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What’s next? Three trends that could affect ERP systems in 2023

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The world of enterprise resource planning is constantly evolving. With market changes, changing customer needs and resource constraints, it is essential that businesses stay up-to-date with software updates for the present and the future. Knowing where the trends are in your industry makes it easier, faster and more efficient to make responsible business strategy decisions. As we approach the end of 2022, it’s time to look to the future and see what the world of ERP software and enterprise technology has in store for 2023.

We have reached the stage where cloud technology is no longer the privilige of large corporations, but is easily accessible to small businesses too. Yes, you can even get full access to the entire business from your mobile device. By introducing a mobile-friendly interface, staff proactivity can also be increased.

Artificial intelligence can take on more and more tasks in analytics, from data collection to processing and evaluation.

More industry-specific features and services are expected to be added to ERP systems in the future, allowing customisation to be carried out in a time- and cost-efficient way. The construction industry could be one of the latest areas to be conquered by ERP.

 

 

ERP
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How can ERP help in a recession?

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The much talked about recession has arrived, and though we don’t know exactly how long stays with us, all market players, regardless of industry or size, better be prepared to deal with it. But by taking conscious actions, we can ensure that our company can weather the period in the best possible way. The success of our crisis management will also depend on what extent we dare to rely on the opportunities offered by technology.

Since cloud enterprise resource planning (ERP) stores real-time information about every department in the company, and provides continuous access to data anytime, anywhere, it is a powerful tool for analyzing our operations, forecasting and preparing for challenging times. In our article we showcase how cloud ERP can help us identify the most valuable areas of our business, help us in inventory management or monitor debts and incoming payments anywhere, anytime, thus keeping our company resilient in challenging economic environment as well.

Dynago Team
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The possibility of having an impact on each other “in person” seems to disappear

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There have been a lot of changes in the past challenging 2 years that have had a significant impact on all aspects of our lives, and naturally, our recruitment processes have also changed significantly as a result of these covid-heavy years. Just to mention a few, face-to-face interviews have completely disappeared, and we meet with candidates in our virtual Teams office.

Besides its negative factors there are positive benefits too, including the fact that it is much easier to find an interview appointment, the virtual space connects us anywhere and anytime – summarizes the learnings and pros and cons our HR Business Partner, Dóra Bíróné Szabó, who talks about the impact of these economic circumstances and all the changes related to nowadays recruitment processes.

 

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Why SaaS is increasingly popular?

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Software as a Service, also known as SaaS or on-demand software, is a way of delivering software applications to the end-user over the internet. SaaS can provide great advantages for most businesses, primarily in costs and flexibility.  No hardware costs upfront, no software to install, and the application is ready to use in a few hours: SaaS can be a more cost-effective solution than on premise version, while it can easily be scaled and integrated with other SaaS services. No wonder that more and more companies choose to switch to Software as a service solution. In our article, we list all the relevant benefits that can help your company to consider the upsides.

It does not mean however, that everyone should say goodbye to on-premise software versions. For some large companies, where the IT structure is really complex and was specifically tailor-made because of highly sensitive data, it might be a considerable choice to stick to keeping the data on the company’s premises. Though data protection can also be ensured in the cloud without any problem, especially if you choose a trusted service provider and it is accompanied with a responsible user behaviour (for more details on how to keep data secure in the cloud, see our previous summary). Concurrently, SaaS solution is becoming increasingly popular among enterprises for its simplicity, user accessibility and agility. In recent times it has been popular due to the benefits it offers to the small scale businesses. Especially businesses who operate in the cloud, much prefer to use Software as a service.

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ERP system: when it is time to upgrade?

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Keeping your ERP system up to date is one of the most important prerequisites for a fully functioning and efficient ERP system. Upgrading a system can seem daunting to many, and there is even the question of how you even know that you need to upgrade your system. Besides, we might also ask: is it enough to upgrade, or is implementing a new system a better option?

To decide whether it is time to upgrade your system, you should consider the following aspects:

Is your current system meeting your business needs, everything running smoothly, efficiently and with minimal manual operations? If there is a sign of hesitation, it’s probably time to take the first step towards the system upgrade. What changes is the company going through? Can the current ERP system support your business growth? This aspect should especially be considered when a company is expanding, when it enters new markets or start selling new products. The following aspect is the competitive environment, whether the company can keep up with its competitors regarding how developed their system is. It is also important to know whether the vendor still supports the version of the current software the company uses.

All in all, the question whether to decide on an upgrade or a replacement is perhaps best determined by considering that an upgrade contains improvements of the current software features or add-ons, while a new ERP is justified when a company needs new functions that complete the existing ones or different, yet specific functions that the current one doesn’t have.

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Using cloud technology is no longer an industry issue

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The way cloud systems are used and integrated may vary from industry to industry, but it doesn’t mean that some companies should dismiss cloud. In fact, more and more companies are recognising and integrating cloud technology into their daily operations. Some companies offer even their services in the cloud. Among them, the fifty most successful cloud technology providers in Hungary were also listed by Forbes. E-commerce, finance, agriculture, health and IT companies, from start-ups to large companies are all represented on the list, which also reflects the wide range of use of cloud services.

Below is a brief overview of the benefits of using the cloud in different industries.

 One of the industries that can benefit the most of cloud technology is the automotive industry where cloud technology can be used to improve analytics, maximise uptime, improve quality and optimise machine productivity. Then, health industry is also a key user. With IoT, the cloud enables a more efficient management of changing networks and usage patterns thanks to data collected from predictive analytics. In addition, banking institutions often use cloud computing to provide automated credit risk analysis and to increase the efficiency of credit or other transactional processes. For retailers a cloud system can provide valuable insights into customer behaviour, including customers’ buying habits, that empowers retailers to provide a personalised shopping experience to customers that can positively impact sales results. In addition, with cloud solutions, supply chain management companies and construction companies can provide access to the system to users in different locations, working from different devices that which can be particularly important for logistics and construction companies, but might be an asset also in any other industry.

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