As this year begins, the pandemic has eased, but many of the challenges related to business disruption and adaptations remain. Businesses have started to explore opportunities and leverage technology—with minimal investment—aiming to create a balance between reducing costs and increasing business resilience. In recent years, companies across several industries began
To help you reach and remain at the forefront of tech advancements, we include six game-changing ERP trends that will set industry standards in 2023.
Widespread adoption of ERP
In 2023, the ERP market is likely to expand across several business verticals. It will include more than SMEs and large-scale businesses. Several new industries, such as healthcare, retail, and construction, also seek to adopt and leverage the
- Personalized and user-friendly interface
There are several ERP solutions in the market, but some are easy to use, while others are cumbersome and complicated. With changing demands, users look for a personalized and simple interface. To meet these requirements, top-level vendors will sell ERP solutions with a user-friendly and customized interface, a trend that will continue throughout 2023.
- Increased focus on analytics and business intelligence
New analytical tools such as Business Intelligence and AI have replaced legacy ERP functionalities—and their limitations—with powerful new analytic tools for significantly greater data insights. In 2023, a renewed emphasis on analytics and real-time data is expected as it helps businesses make better decisions.
- Leverage cloud-based solutions
The current work culture calls for mobile and cloud-based solutions that can be used anywhere, untethered. In addition, cloud-based solutions are also more affordable than on-premise systems, and they promise enhanced cyber security and compliance that enables seamless team collaboration. Microsoft's latest cloud initiative provides better protection and industry-specific cloud services.
- Enhanced integration with social media platforms
Social media platforms such as
- Rising demand for low-code or no-code development tools
You don’t necessarily have to be a programmer to build a customized business application. Modern ERP solutions, such as the Microsoft Power Platform, provide various benefits, such as lower development costs and improved flexibility and agility.
- Improved flexibility with mobile apps
The current workforce primarily runs on mobile devices such as laptops, phones, and tablets. Mobile apps help you look up contacts, share details, respond to inquiries, and provide real-time access to company information and customer communications. For example,
- The emergence of XaaS (anything as a service)
In 2023, the subscription economy will spread across several business verticals and software markets. Through the past couple of years, Software-as-a-service (
Companies can sell ERP products over the Internet through subscriptions when they become subscription-based, reducing upfront costs, eliminating maintenance fees, improving customer support, and simplifying IT deployment. In addition, XaaS works on a no-commitment basis and facilitates businesses allowing them to precisely pay for what they need.
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