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To stay relevant and competitive in an ever-changing landscape, companies are increasingly relying on ERP systems to manage their operations. Today, more than ever, businesses are being asked to rapidly adapt the way they manage their entire business operations. Next, we analyze the latest trends in ERP.
Focus on integration
With the increasing adoption of cloud/SaaS ERP, integration using standard APIs is commonplace. Customizable ERP solutions offer access to APIs and provide the ability to integrate specialized third-party solutions that allow businesses to easily add or remove features to their ERP solutions and have greater control over both deployment and implementation. Leading ERP providers are embracing this trend by incorporating these innovative technologies into their products, and IT executives are doing the same.
Cloud-First approach
Cloud-ERP continues to be one of the most revolutionary trends. Cloud computing has introduced a new world to ERP, enabling SaaS options that lead to more efficient work practices, save time, reduce total cost of ownership, and help companies change the way they work.
Many businesses that are still using on-premise ERP are beginning to understand how and why this is becoming unprofitable. The pandemic and operational constraints have forced many to operate remotely, finding on-premises solutions obsolete. As a result, the cloud computing market size is expected to reach USD 791.48 billion by 2028, growing at a CAGR of 17.9%.
Mobile ERP
ERP “on the go” is a growing trend as today’s workforce is increasingly mobile. So, it is no surprise that one of the biggest trends in ERP for 2024 is an increased focus on mobile management solutions. An increasing number of businesses are introducing mobile ERP, which is quickly becoming an indispensable business tool. These solutions drive system visibility and accessibility across the company, accelerate business processes, enhance productivity, and save time, resources, and costs.
Machine Learning and AI
In 2024 there will be a further transition to the era of automation and the adoption of machine learning and AI in ERP. In a business world dominated by the logic of immediacy, process automation tips the scales in favor of those who use it to “do more with less”.
Artificial intelligence technologies, including machine learning, are helping businesses to derive additional value from the ever-increasing volume of collected data. AI continues to enable companies to gather new, actionable insights, improve their business processes and leverage the volume of their business data.
