The initiation of the concept of Enterprise Resource Planning dates back to the 1940s. The present gen ERP only took shape in the 1970s. The world witnessed the birth of ERP with the kicking off of some cross-enterprise software and various transformations in hardware and software technology. The world witnessed the next generation ERP mainly during the 90s when functions like HR, engineering, finance, and accounting were added as lean-to manufacturing. This was the time when people anticipated something more from the traditional ERP and which it clearly was unable to offer. Still, you can find ERP software in current times that undergo the absence of flexibility. Businesses to be industry & future-ready must realize the key aspects of next generation ERP for staying competitive.

Accomplish bigger agendas with next generation ERP:

• Completely integrated application – A completely integrated next generation ERP offers organizations the complete liberty of gaining control over their choice of functionalities. For instance, a company might require production modules along with modules like human resources, CRMS, financial management, payroll, incorporated in their solution. ERP software of today’s time also lets companies customize as per their needs for which they can cut down on costs. ERP projects can benefit businesses in the near future like never before.
• Social media platform integration – Within the ERP software solutions realm, the integration of social media platforms is something new. This is the time when the business world needs to utilize sound next generation ERP for facilitating seamless integration with all social media platforms. Customers can then experience excellence like never before.
• Embedded business intelligence & analytics – When a company engages in ERP business collaboration for better growth, it must only invest in next-generation ERP software.  Such solutions enable organizations to craft ad-hoc queries & personalized reports whenever they need them. This is beneficial for ERP in the retail industry and ERP in the construction industry. Also, these solutions help in updating data automatically and in real-time. There will be no requirement of syncing manually with next-gen ERP software.
• Mobile access – Organizations are investing much of their time in understanding the attributes of ERP software. But they must choose the one that is completely compatible with mobile. This is especially very important for experts who function across manifold verticals. They need to get hands-on business information while on the field and at any point in time. Also, employee training can be conducted more easily with such systems. Business operations automatically reach the very next level when there is access to web portal & mobile functionality for numerous stakeholders like employees and clients.
• Sharing data across various modules – It has been a long time since the world bid adieu to data entry. It is high time that every small & big organization chooses to implement next generation ERP software. These software solutions are extremely flexible which is why sharing common data across various modules is possible in real-time. This decreases the requirement of typing data repetitively.
• Hosting options – A system as complex as the next-gen ERP system must render a wide range of hosting options. It mainly depends on the requisites of a company. Next generation ERP software is something that offers both cloud models and the on-premise server.

Driving future growth for organizations with next generation ERP software:

• Decision making in real-time – Even today, many organizations within the complex world of business are unable to realize the importance of decision-making in real-time. As per research, 65% of average performing companies believe that the organization’s success depends on the ERP platform while 98% of successful companies realize that ERP is vital for success and growth (Source: https://www.tcs.com/blogs/five-pillars-of-next-gen-erp). It is time that companies shed their dread of data & use it to their complete advantage. Organizations can actually experience a competitive advantage when they employ next generation ERP software. This facilitates making dynamic decisions on a real-time basis. This is required for the purpose of optimizing operations, finance transformation, supply chain, and a lot more. ERP systems largely emphasize data for helping both big & small companies.
• Flexibility & public cloud – Still there are companies currently who are dealing with private cloud enterprise resource planning and on-premise because of compliance and security reasons. But now the world is witnessing the rising popularity of public cloud next generation ERP. Organizations these days think of becoming more agile & adopt more and more innovative technologies like IoT, Artificial Intelligence, and Machine Learning. As per a study, the market of public cloud ERP will grow by more than 20% worldwide between the years 2017 to 2022 (Source: https://www.tcs.com/blogs/five-pillars-of-next-gen-erp). Azure, GCP, and AWS are public cloud providers that are pioneering these days. These providers offer affordable and agile and flexible platforms for driving innovation & growth.
• AI and Automation – One of the most advancing trends currently is AI and Automation. People engaged in today’s business world are anticipating largely the rise of such technologies in the near future. Industries like gas, retail, and manufacturing are rapidly embracing analytics that is AI-powered and smart. The potential that lies with the employment of machine learning & IoT in the manufacturing and aviation industries are humongous. Manual data entry in ERP software is now something that has become completely obsolete and this will pave the path for intelligent automation in the upcoming times. Artificial Intelligence technology helps in making intelligent decisions depending on human inputs. This takes place in a system that carries a huge amount of data.

A promising future for organizations employing next generation ERP:

There is no doubt about the fact that there are innumerable prospects for businesses if they upgrade to the next generation ERP system. However, for implementing and reaping all benefits of sound ERP software, an organization will always require a good strategy & thorough evaluation for a victorious business transformation. Companies will also need to realize their business goals & shortcoming in the present system. A quick SWOT analysis can help companies realize their strengths and weaknesses in front of their competitors. Also, we know that the future is all about the cloud which is why companies now or later will definitely adopt cloud strategies. Last but not the least; companies must prepare the vision for their upcoming future Information technology systems for planning accordingly.

Is your current ERP posing an obstacle for a continuous sales order? This can pose challenges in various ways. High-end next-generation ERP at exactllyERP can help you bid adieu to all your business complexities. If you want to know how to ask for Free Demo you Contact Us today.