ERP Software in DubaiBy Rizwan Rauf on
New ERP Trend in Dubai and Middle East
With new technologies on the horizon, enterprise resource planning (ERP) software is swiftly moving into a more advanced stage of development. Its next-generation model promises to offer high-tech features such as expanded, more-powerful cloud platforms and innovative, high-performance artificial intelligence (AI) applications.
Here are five of the newest (and best) ERP features and trends to look for in 2017 and beyond.
1. SaaS Applications
According to a 2017 report by Forrester Research, over the next three years, software as a service (SaaS) -- or subscription-based software -- will become the "preferred deployment option" for many different types of businesses. By subscribing to software platforms, businesses can try them out, then continue to use them on a sort of rental basis by subscription, similar to renting a car. Likewise, SaaS solutions can be used to enhance your existing ERP system, while eliminating the need for investing in additional, expensive hardware. For example, if you want to add CRM capabilities or features such as document management to your ERP tools, you can plug SaaS modules onto your existing ERP system. SaaS programs offer a wide variety of features that can transform your ERP platform into an even bigger powerhouse of resources.
2. Cloud Expansion
Companies are discovering that cloud solutions can significantly expand the capabilities of their existing ERP systems. Cloud-based applications, when merged with ERP platforms, can effectively streamline areas such as CRM, expense and finance management, inventory control and human capital management. When incorporated with ERP solutions in these crucial areas, cloud computing can eliminate the need for businesses to purchase extra server/storage hardware. Thanks to its limitless possibilities, ERP/cloud computing can also help companies cut down on staff/infrastructure costs, and enable employees to immediately access vital information from any internet port.
3. AI Applications
Artificial intelligence (AI) is revolutionizing the way humans do things -- from driving a car to manufacturing complex machinery. When merged with ERP systems, AI applications can streamline, through automation, just about every link in the chain of business operations. Imagine this scenario: A sales rep calls in an order to an ERP system, which immediately generates and sends an invoice to the customer, while simultaneously generating and sending a purchase order telling procurement to replenish stock on that item. The merging of AI and ERP automates the entire process -- and delivers results instantly. AI, when used with ERP, can likewise be used to collect valuable analytics and streamline email marketing campaigns. By automating routine tasks with an AI-enhanced ERP system, business can reduce operational costs and spend more money on design and development.
4. Greater Interconnectedness
Thanks to new trends such as merging cloud solutions and SaaS applications into existing ERP systems, business operations can be run on a single, end-to-end platform, eliminating the need for disparate systems. This creates greater interconnectedness between different departments -- generating instant departmental communication and faster response times for even the largest companies. Enhanced connectedness means swifter operations, which can significantly boost production and revenues.
5. The Internet of Things
The vast ecosystem known as the Internet of Things (IoT) is creating an unimaginable global connectivity, as all kinds of objects -- ranging from watches, cars and domestic appliances to industrial machinery -- are increasingly being embedded with software. IoT technology, when incorporated with existing ERP systems, can diminish the need for humans to interact with machinery and data, allowing businesses to become more automated in every facet of manufacturing, marketing, sales and distribution.
ERP software has already established a proven track record for effectiveness in the business community, and the ERP software market is projected to reach $41.69 billion in sales by 2020, representing a growth of 7.2 percent since 2014. With the incorporation of new innovations such as cloud, AI and SaaS applications, this next generation of enhanced ERP software promises to take high-performance, streamlined business operations to a whole new level.