Today’s innovation and development rates require companies to anticipate market needs, optimize their business processes, and streamline strategic decision-making. Here’s what ERP software needs to include to drive your business growth.
The arrival of a new generation of ERP or Entreprise Resource Planning solutions is starting to mark a before and after in enterprise resource management. Automating and simplifying the different ERP modules – from buying and selling, to operations, accounting or inventory management – are some of the differential values of these new systems.
We now see the four main ingredients that ERP must include to become the software of the future:
The most modern ERP enters the world of machine learning to incorporate all the advantages of this branch of artificial intelligence into the management of the company. The goal is to teach information systems to analyse the evolution of our business by using logarithm that work with historical ERP data.
With machine learning we achieve, for example, to make calculations and predictions of cash flow forecasting functionality. This serves to know the financial solvency of the company and the fulfillment of its obligations in this area. It also allows you to manage inventory and predict potential sales based on your business history to plan for procurement and avoid stock breaks.
Business analytics tools are another big leg of new ERP software. Until now, many systems have integrated independent business intelligence (BI) solutions. However, what is really new is to embed these applications within the ERP itself.
This system improves connectivity by establishing a BI solution shortcut to data stored within the ERP. This optimizes the potential of the BI tool to create and visualize both a built-in dashboard and data-driven reports that have previously been configured.
Integration and accessibility
For years, companies have carried out digitization processes in which new tools have been progressively incorporated. The multiplication of independent systems creates great chaos for the user, who has to deal with various platforms when introducing, querying or managing information.
Therefore, one of the maxims of the ERP of the future will be to enhance integration with all kinds of professional applications. This facilitates process automation and speeds up tasks execution like never before. For example, when ERP interacts with Office 365, you can create offers in the appropriate format and incorporate them into the database, access customer cards from an appointment registered in the mail, or synchronize contacts.
This integration can be applied to many types of tasks, such as payment services (e.g. PayPal) to make it easier for customers to manage customers directly from the ERP. In addition, the incorporation of other functionalities, such as the OCR reader,allows you to automate processes. In this case, speed up invoice review before sending them or optimizing document data extraction.
Working with increasingly complex tools and massive data volumes,usability becomes a key issue. Therefore, when designing the ERP software of the future it is necessary to introduce improvements at the user level and new functionalities that simplify its use.
To take the user experience to a new level, initiatives such as accessing the ERP system from mobile devices or developing an interface that allows smoother navigation through the platform are being launched. Other improvements include the ease of consulting questions in user wizards or configuring connectors and extensions.
Above are the four ingredients that your ERP software should look like to you, what should it include to help you optimize your business processes?
If you want to know how to improve the usability of the interface or harness the potential of machine learning and business intelligence, click here to arrange a call with us or call the our UK office now on 0161 705 6000.