
Three Important Advances in ERP for 2021
Many ERP systems incorporate chatbots or digital assistants into their systems, with the capability to answer one's employees' questions using actual customer or order data mined from the system.
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CIO Applications Europe | Tuesday, November 30, 2021

Fremont, CA: According to a recent study, the ERP market will reach nearly $50 billion by 2025. However, with so many major corporations already implementing an ERP solution, how many of them are keeping up with ERP's constant evolution?
The ubiquity and demand for enterprise resource planning (ERP) software has driven several key advances in how enterprise technology is managed, with the hybridization of workforce and supply management in industries ranging from retail to healthcare.
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How much and how frequently does an organization adjust its ERP strategy to meet changing operational needs and capitalize on newly available features? Is one optimizing and accounting for all of one's employees' top workflows, and how do ERP advancements may benefit them? One should examine these three key developments in the ERP world and determine how these changes may affect one's overall approach to ERP management based on one's organization's size, budget, and needs.
ERP providers improve data quality and accessibility.
Chatbot for Self-service
Many ERP systems incorporate chatbots or digital assistants into their systems, with the capability to answer one's employees' questions using actual customer or order data mined from the system. When evaluating the performance of a specific business function, the chatbot interface simplifies the user experience for one's less technical employees by providing them with easier access and better data-driven results.
AI-enabled Visuals and Charts
ERP software has included customizable visuals and charts based on supply chain, HR, billing, and other back-office data for many years. However, with an increased emphasis on AI and multi-cloud interaction, these visuals can now pull data from sources other than the ERP. Front-office data, such as marketing and sales actions, can now more seamlessly inform back-office analytics and future planning thanks to this advancement in ERP infrastructure.
Predictive Analytics
ERPs are utilizing system data to develop predictive analytics that identifies future pain points and needs rather than focusing solely on past analytics. For example, a retailer's ERP system may employ predictive analytics to examine historically high and low-volume sales periods, assisting in determining when inventory should be replenished or when digital advertising should be ramped up in the future.
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