Five Probable Trends that will Shape ERP in Future
Like every other sector that technology has changed, business is one of them. In fact, the modern trends of business is evolving around the most recent innovations of technology. Without such a boom in recent innovations, business wouldn’t have become so fruitful. Not just the consumer end, technology has affected how business is managed these days. IT departments are now more connected to every department of a company, and the owners and employees get to see the data instantly on a central network feed on a need-to-know basis. The tool that makes the management of an enterprise so effective is named Enterprise Resource Planning, mostly known as ERP.
How is ERP going to shape things in future? Even ERP is being affected by the major revamp in technology.
1.Internet of Things
Internet usable only on a complete computer setup – those days are long gone. Now even electronic appliances like television, fridge, and car center console etc. can access internet and transfer data between users and networks. ERP is a complete information setup that records sales, purchase, shipment, generated revenue profit etc. and records the data to every accounting books or other records automatically. Internet of Things could be very helpful in recording such cash flows. For example, a company car’s center console that’s connected to the internet can record a car’s mileage, fuel expense etc. and record those to the operational costs without the financial manager having to manually record it.
2.Wearable Technology
ERP is all about connectivity and so are wearable technologies. These technologies are about to hit a milestone of $10bn market worth by 2016, as predicted by technology experts at the CES 2014 show and Gartner. Even though the core focus of wearable technologies has been shifted to fitness tracking, yet there are sensors that can generate information required by the ERP programs. Tracking employee movement would be made easier using wearables; or advanced presentations using VR helmets could be an option.
3.Assortment of Data
Technology has made assortment of data much easier. The employees can see whatever data they require and they are allowed to see on a need-to-know basis. An ERP software will determine for which pay-grade a specific data will be available; hence the concern of privacy and data confidentiality remains intact as well.
4.Data Analysis
The best part of ERP is, it takes all data into calculation and provides real time ‘big picture’ of a company’s status. For example, an executive could know the targeted sales projection for a specific month on his or her department. For a higher level employee, they may be able to see the sales margin the company currently goes by in real time, using visuals inside a central interface. In future, data analysis will play even bigger roles.
5.Incorporating new Technology into Business
In future, lots of business will adapt newer innovations into active procedures of their business. From accounting department to logistics tracking, everything could be done in easier ways using latest technology, and everything will be incorporated with ERP software and erp provider India. In future, this trend of incorporation will really bring changes to ERP and business.
How is ERP going to shape things in future? Even ERP is being affected by the major revamp in technology.
1.Internet of Things
Internet usable only on a complete computer setup – those days are long gone. Now even electronic appliances like television, fridge, and car center console etc. can access internet and transfer data between users and networks. ERP is a complete information setup that records sales, purchase, shipment, generated revenue profit etc. and records the data to every accounting books or other records automatically. Internet of Things could be very helpful in recording such cash flows. For example, a company car’s center console that’s connected to the internet can record a car’s mileage, fuel expense etc. and record those to the operational costs without the financial manager having to manually record it.
2.Wearable Technology
ERP is all about connectivity and so are wearable technologies. These technologies are about to hit a milestone of $10bn market worth by 2016, as predicted by technology experts at the CES 2014 show and Gartner. Even though the core focus of wearable technologies has been shifted to fitness tracking, yet there are sensors that can generate information required by the ERP programs. Tracking employee movement would be made easier using wearables; or advanced presentations using VR helmets could be an option.
3.Assortment of Data
Technology has made assortment of data much easier. The employees can see whatever data they require and they are allowed to see on a need-to-know basis. An ERP software will determine for which pay-grade a specific data will be available; hence the concern of privacy and data confidentiality remains intact as well.
4.Data Analysis
The best part of ERP is, it takes all data into calculation and provides real time ‘big picture’ of a company’s status. For example, an executive could know the targeted sales projection for a specific month on his or her department. For a higher level employee, they may be able to see the sales margin the company currently goes by in real time, using visuals inside a central interface. In future, data analysis will play even bigger roles.
5.Incorporating new Technology into Business
In future, lots of business will adapt newer innovations into active procedures of their business. From accounting department to logistics tracking, everything could be done in easier ways using latest technology, and everything will be incorporated with ERP software and erp provider India. In future, this trend of incorporation will really bring changes to ERP and business.
Advertise on APSense
This advertising space is available.
Post Your Ad Here
Post Your Ad Here
Comments