Top 10 ERP Trends in 2023: Know how the Industry is evolving

February 16, 2023

In 2023, the enterprise resource planning (ERP) landscape is poised to undergo significant transformation, driven by the increasing adoption of cloud-based technologies, advancements in artificial intelligence (AI), and changing customer demands. Enterprise Resource Planning (ERP) has undergone a significant transformation over the years. In the past, ERP systems were typically on-premise solutions that required significant investment in hardware and software. Many businesses are shifting to cloud-based ERP solutions that offer greater flexibility, scalability, and accessibility.

With the rise of mobile devices, ERP systems developed by top-ranking ERP software companies in India are becoming more mobile-friendly, with many vendors offering mobile applications that enable employees to access ERP data on the go. In the past, ERP systems were often criticized for being complex and difficult to use. Vendors are placing a greater emphasis on user experience, with more intuitive interfaces and personalized features that cater to individual user needs.

As businesses rely on many applications and tools, ERP systems are becoming more integrated with other systems, enabling greater data visibility and streamlining operations. ERP systems increasingly incorporate advanced technologies such as artificial intelligence, machine learning, and blockchain to enable more efficient and intelligent decision-making.

Here are the top 10 ERP trends that are likely to shape the industry in 2023:

1. Cloud-based ERP systems will become the norm:

With the growing popularity of cloud computing, cloud-based ERP systems are becoming more prevalent and are expected to become the norm in the coming years. Cloud-based ERP systems offer many benefits, such as accessibility, scalability, and cost-effectiveness, which make them an attractive option for businesses of all sizes.

2. AI-powered ERP will gain traction:

ERP systems incorporating AI and machine learning (ML) will continue gaining momentum in 2023, helping organizations automate routine tasks, make more informed decisions, and enhance customer experiences. AI-powered ERP systems are expected to gain significant traction in the future. By incorporating AI and machine learning, ERP systems can automate routine tasks, enhance decision-making capabilities, and improve customer experiences. AI can help businesses analyze vast amounts of data, identify patterns, and provide insights that can drive business growth and success. As AI technology advances, we can expect ERP systems to become even more intelligent and valuable in helping organizations achieve their goals.

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3. Increased emphasis on security:

With the rise of cyberattacks, ERP vendors will focus on enhancing their security measures to protect customer data and prevent unauthorized access. With the growing number of cyber threats and the increasing amount of sensitive data being stored on ERP systems, businesses are becoming more concerned about the security of their ERP systems. ERP vendors are responding to this concern by improving their security measures, such as using advanced encryption techniques, implementing multi-factor authentication, and providing continuous security updates. In the future, we can expect ERP systems to be even more secure, with stronger security protocols and more robust defences against cyber threats.

4. Adoption of blockchain technology:

Blockchain technology has the potential to revolutionize the way businesses operate, and in 2023, more ERP vendors will incorporate blockchain into their systems to improve transparency, security, and efficiency. ERP vendors are exploring ways to incorporate blockchain into their systems to improve supply chain transparency, enhance data security, and enable more efficient and cost-effective transactions. As blockchain technology continues to mature, we can expect more businesses to adopt blockchain-enabled ERP systems in the future.

5. Rise of low-code ERP systems:

Low-code ERP systems allow users to build applications and workflows with little or no coding experience, making it easier and faster to develop custom solutions that meet their specific business needs. This can help businesses reduce development costs, increase speed to market, and improve agility in response to changing business requirements. In the future, we can expect more ERP vendors to offer low-code solutions, empowering businesses to build and customize their ERP systems with greater ease and flexibility.

6. Focus on interoperability:

As businesses increasingly rely on a diverse range of applications and tools, they need ERP systems that can integrate with other systems to streamline operations and improve data visibility. ERP vendors are responding to this demand by creating more flexible and interoperable systems that can easily connect with other enterprise applications and third-party tools. In the future, we can expect ERP systems to become even more interoperable, with more seamless integrations that enable businesses to optimize their operations and drive growth.

7. Personalization of ERP systems:

With more businesses recognizing the importance of delivering a personalized customer experience, ERP software providers in India are focusing on developing more personalized and user-friendly ERP systems. This can include customizing the user interface to meet the specific needs of different users, offering more intuitive navigation, and incorporating more artificial intelligence to provide more personalized recommendations and insights. In the future, we can expect ERP systems to become even more tailored to individual user needs, providing a more intuitive and efficient user experience.

8. Shift towards mobile ERP:

As more employees work remotely or need to access ERP data while on the go, there is a growing demand for mobile ERP solutions. ERP vendors respond to this demand by developing mobile ERP applications that provide real-time access to key data and functionality. Mobile ERP can provide greater flexibility and accessibility for employees, enabling them to work more efficiently and make better decisions, regardless of location. In the future, we can expect mobile ERP to become even more prevalent, with more businesses adopting mobile-first strategies and relying on mobile ERP solutions to drive growth and success.

9. Emphasis on sustainability:

As more businesses recognize the importance of sustainable practices, ERP vendors focus on developing more sustainable solutions that can help businesses reduce their environmental footprint and drive greater social responsibility. This can include features that enable businesses to track their carbon footprint, optimize energy usage, reduce waste, and promote responsible sourcing. In the future, we can expect ERP systems to become even more focused on sustainability, with more features and capabilities that enable businesses to promote environmental and social responsibility throughout their operations.

10. Greater adoption of ERP in small and mid-sized businesses:

As ERP systems become more accessible and cost-effective, smaller businesses increasingly recognise the benefits of implementing an ERP solution to streamline operations and improve decision-making capabilities. ERP vendors are responding to this trend by developing more affordable and scalable solutions to meet smaller businesses' unique needs. In the future, we can expect to see even greater adoption of ERP in small and mid-sized businesses, with more customized solutions that enable them to compete more effectively and achieve greater success.

Final Thoughts:

The ERP landscape in 2023 will be defined by cloud-based technologies, AI, blockchain, and the increasing focus on security, interoperability, personalization, mobility, sustainability, and accessibility. Businesses that embrace these trends and invest in modern ERP solutions developed by an excellent ERP software company in India - Shanti Technologies (STERP), will be better positioned to compete and thrive in a rapidly changing marketplace. Contact Shanti Technologies (STERP) today to fulfil all your ERP software needs.