As the years advance quickly on us, so does the way technology works. Not only does it enable us with more features and better processes, but it also ultimately changes the way in which our businesses operate – and NEED to operate.
Where do we see Cloud ERP fitting in for 2020’s technological trends?
Here are some of the top trends that Jon Roskill, CEO of Acumatica, foresees coming our way for the year:
- AI (Artificial Intelligence) will be growing in popularity, especially by the financial industry.
Even though AI has been around for a while, constantly adapting and becoming more powerful, it has become even more of an asset to use in this economy when combined with the modern cloud-based ERP solutions (working with dashboards and data tools). With the use of AI, financial companies will see a cost reduction of almost 20%! Machine learning and artificial intelligence allow financial teams to work quickly and efficiently, as well as enabling them to produce real time predictions and forecasts. ERP vendors, such as Acumatica, who have integrated AI features into their solution puts their customer first with a better experience and better results with the use of this technology.
- There will be a focus on EULA/data ownership rights within a cloud ERP solution.
Cloud based ERP allows people, technology and processes to be brought together in one space – ensuring that your business is fully connected and has a holistic view. It gives you the best tools and resources to operate efficiently and profitably in today’s economy. That’s why you need to make sure you’re choosing the right ERP solution that is created with your best interest at heart. This year, we suspect that businesses (especially in Europe and the United States) will assess if their cloud ERP vendor has the best vendor practices, an End-User License Agreement (EULA), has the customer as its priority and a solution that allows the business to be able to access their data at any given point. You can read more on what your vendor should be providing you here. If South Africa would like to keep up with this worldly progression, then our businesses need to start paying attention to this sooner rather than later.
- Cloud ERP will be growing substantially again this year.
As businesses realise the importance of data and technologies to their end success, so will the investment in cloud based ERP solutions. IDC, in a recent Forbes article believe that “By 2020, 70% of enterprises will integrate cloud management – across their public and private clouds – by deploying unified hybrid/multicloud management technologies, tools, and processes.” Using a Cloud ERP software enables your business to be easily adaptable, automated, collaborative and insightful – in real time and with access at any time, anywhere.
Again, we reiterate that you need to ensure that you’re choosing the right ERP solution for you – that is seamlessly integrated, that incorporates the latest technology and is easy to use! There are many cloud based solutions out there, and your success depends on the most reliable and accurate of them.
If you want to hear more about Acumatica’s cloud based ERP solution, then let’s chat! Click here…
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