The year 2018 is very exciting for enterprises in more than one way. ERP vendors are bringing newer technologies and offerings to market, CIOs
The year 2018 is very exciting for enterprises in more than one way. ERP vendors are bringing newer technologies and offerings to market, CIOs are unsure about the maturity of these technologies as there are not many success stories and market dynamics are forcing enterprises to embrace these technologies for riding the wave of digital transformation.
Below are trends that our team of researchers, business analysts, and technologists that work closely with customers have been sensing and hope that will define 2018.
Investments in digital transformation initiatives will go northward
Companies are reaching the end of life for their traditional systems and are due for replacements. Decision makers of enterprises are now looking for more modern systems that make it possible to benefit from technologies such as cloud, enterprise mobility, and IoT. As global economic outlook is improving now these organizations have the capital to be invested in such initiatives.
Hybrid nature of businesses will create high dependence on ERPs
Today businesses operate in offline and online mode simultaneously. Need for omnichannel retails, global operations, reliable information for better sales and management is demanding up-to-date and real-time data reservoir. The right information at the right time has become a critical ingredient in success formula. Only modern ERPs can offer real-time information, scalability demanded by global teams and robustness required against the high load of information requests.
Cloud ERPs will reach a threshold
Cloud ERPs are gaining some momentum over past few years. All major ERP players have got their own cloud version. But the acceptance has been moderate so far. In the year 2018, we believe there’s a great chance that these cloud ERPs will reach a threshold point.
Automation will be in demand
There’s only a little that enterprises can achieve with manual operations. CXOs will look for automation to scale up operations. ERPs that are automation friendly by offering automation through built-in functionality or by third-party integration will boost enterprises’ productivity. Intuitive workflow management will make it easy to reap the benefits of automation. Such ERPs would see more traction in 2018.
Demand for ERPs for project-based and asset-heavy industries will soar
Traditionally, ERPs are built for product-based industries. However, over last few years industries that offer services over the contractual period and that deploy asset to get work done have been trying to structure their operations for higher efficiency. There will be customized ERPs being built for such industries starting from 2018 or there will be modules being made available for existing ERPs that serve the purpose.
We have seen many enterprises committed to bringing about digital transformation by 2020. If they have to fulfill their dream then 2018 will be their stepping stone where they start consolidating technologies, invest in future integrated systems.