Over the last decade, the ability of businesses to collect and analyse data has grown exponentially.
And as new tools – most notably AI and machine learning became available – ERP (Enterprise Resource Planning) could be expanded to offer analytical insights enterprises could use for innovation.
Looking at the quote from Michael Larner, Principal Analyst at ABI Research, I see business leaders actively re-organising their supply chains. How they manage these shifts requires a new approach to ERP:
Insights and actions
The power of cloud-based ERP is the overview it can give business leaders. So many of the conversations I have with businesses are about their lack of insight and inability to use the information they have to make tangible decisions about their enterprises. Cloud ERP systems have the capability to take large complex datasets and look at the granular needs of specific business processes. This is where insight becomes strategic and actionable innovation.
Cloud ERP is on the move
Also, legacy ERP was difficult to configure and personalise to the precise needs of the business using the service.
Today, the low-code movement shows how companies don't have to bend these systems to their requirement but can easily modify them to deliver real-world benefits to their users. And these users are not just at high-level management but can also be individual workers. This granular approach is a clear trend across post-pandemic business process management.
Cloud ERP services are also opening the possibilities that predictive analytics offers to enterprises. Every business is looking at how they can increase their resilience in the face of any future global event. When ERP is connected to machine learning AI’s this opens a wealth of opportunities to identify system and process weaknesses which can then be addressed.
And cloud ERP is on the move. As businesses shift to permanent remote mass working, an ERP solution that can support every user no matter their needs or location is a core business case for cloud ERP. Businesses will also make ERP their own by focusing on the precise needs of teams and individuals to ensure the ERP they use delivers the services they need when they need them.