With more cloud infrastructure and powerful data-driven processes incorporated in modern software, high-performance ERP systems cater to nearly every business, industry, and requirement these days.
Gartner predicts that by 2023, 65% of organisations will use ERP applications to optimise business operations and improve customer service using analytics and intelligent decision-making. Smart and strategic ERP platforms will prevail.
This is a game-changer for the mid-market business sector. Previously, small and medium sized businesses had to raise investments to compete with large enterprises for speed, reliability or efficiency. The latest advancements in cloud ERP finally level the playing field.
Integrated cloud ERP solutions draw on all the necessary resources and power (thanks to the cloud) to automate and improve operations, e.g. update remaining stock, quote and invoice customers, record sales transactions or analyse customer data.
As Gartner explains, the need to create, manage and understand data is paramount to the business ecosystem, customers, suppliers, partners, competitors and stakeholders. Modern ERP systems rely on robust data management and analytics.
Here are five ways ERP systems are changing the way businesses operate: