Three ERP Trends to Keep Your Eye On
When you are in the market for a new ERP solution, it pays to be aware of the latest trends. This may help you future-proof your investment, or simply make you aware of additional functionality. You may also find the below definitions and explanation of industry jargon and buzz words helpful as you seek to distil information relevant to your ERP requirements.
The Cloud vs On-Premises
In 2021 the most common question asked about an ERP implementation is, “can it be hosted in the cloud?” Despite the ubiquity of the cloud, there is still a large amount of confusion about what exactly the cloud is and why you would consider it over traditional on-premise hosting.
The cloud is a deployment option for your ERP. Basically, it means that your ERP software exists and is managed off site in a secure data centre. Cloud deployment is different to the traditional on-premises deployment of ERP. This is because on-premises deployment requires you to purchase and maintain expensive hardware in addition to the ERP software.
The Fourth Industrial Revolution, more commonly known as Industry 4.0, has ramifications for almost every industry globally. It is rapidly changing how businesses operate.
Basically, industry 4.0 is the trend towards automation and data exchange in manufacturing technologies and processes which include cyber-physical systems (CPS), the internet of things (IoT), industrial internet of things (IIOT), cloud computing, cognitive computing and artificial intelligence.
Data Lakes are one element of a wider concept called, Big Data. Big Data is a field that seeks to deal with data sets that are too big or complicated to be handled by traditional data-processing software. The goal of Big Data is to analyse, systematically extract information from these large data sets.
What to Know More?
To help kick-start and simplify your ERP journey we have created the ERP Buyers’ Guide. In the ERP Guide you will be provided with practical advice, tips and the appropriate steps to help your business adopt an ERP solution./
SAP Business One is an affordable Enterprise Resource Planning (ERP) software designed for small to midsize businesses. As a business management solution, SAP B1 streamlines business processes, provides real-time information, and help boost overall business performance. The solution covers finance, sales, customer relationship, purchasing, procurement, inventory and manufacturing in one centralised system, enabling accurate and precise information retrieval that assist in reporting, forecasting and analysis.