Future of ERP: Top ERP Trends for 2024

Looking at ERP of the Future

The ERP software market has seen a lot of growth in the past decade. In 2010, the market for ERP solutions was estimated to be over $21 billion. By 2018, the global ERP software market was valued at $35.81 billion.

A lot of that rapid growth has to do with recent advances in manufacturing and technology. Here are some trends we expect to continue into the new decade and shape the ERP industry.

As we look into the future of ERP applications, it's evident that the landscape is evolving rapidly, driven by the relentless pace of digital transformation. The future of ERP solutions lies in the hands of ERP vendors who are increasingly focusing on making their platforms more user-friendly and aligned with the changing dynamics of business processes.

These advancements are not just about improving operational efficiency; they're about enhancing the overall customer experience. The shift towards more intuitive and intelligent ERP systems reflects a broader trend in the industry, where technology is leveraged not only to streamline processes but also to deepen customer engagement and satisfaction.

As we continue in the 2020s, ERP applications are set to become more integrated and essential components of business strategy, transforming how companies operate and interact with their clients. 

Taking Things to the Cloud

The implementation and dominance of Cloud ERP has been a growing trend for years now, and there are no signs that is going to change.

Cloud-based ERP platforms are becoming faster and easier to deploy. For example, Cre8tive Technology & Design was able to implement a new cloud-based ERP system for a client in under 90 days this year.

Cloud-based systems also make implementing updates easier, while offering better security for your proprietary information.

The shift to Cloud-based ERP systems significantly enhances user experiences, streamlining both internal operations and customer relationship management. These cloud platforms offer a more intuitive interface and greater accessibility, allowing for a smoother interaction between businesses and their clients.

By centralizing data and processes in the cloud, companies can provide more responsive and personalized services, strengthening customer relationships. This move to cloud-based systems is not just a technological upgrade; it's a strategic step towards more connected and customer-centric business models.

Additive Manufacturing Becoming More Prevalent

Additive Manufacturing, also known as 3D printing is becoming more commonplace as the price of technology becomes more affordable.

While additive manufacturing can make producing small parts for customers, it also creates more logistics that you will have to keep track of. You will want to make sure your ERP system can handle the additional ERP data that will be created, and ensure it is secure to prevent a data breach that could expose your business.

Internet of Things and Smarter AI

Just as the Internet of Things (IoT) and artificial intelligence (AI) has become more prevalent in everyday life, expect it to become more integrated into ERP software. Smart sensors can track information and products in real time along the assembly line and automatically record that information into your ERP system, making it easier to track the manufacturing process.

The integration of IoT devices into ERP systems marks a significant leap in the future of ERP systems. As specific industries increasingly adopt IoT technology, AI-powered ERP systems are poised to become more sophisticated and tailored to individual business needs. These systems can process and analyze real-time data from a multitude of sensors and devices, providing insights that were previously unattainable.

IoT also provides the potential of no longer needing to forecast your need for raw materials. Your inventory can be integrated with your ERP platform to automatically order materials or parts that you need, without having to make estimates of what you will need to complete projects.

This fusion of IoT with AI in ERP not only enhances operational efficiency but also paves the way for more proactive and predictive business strategies. Such advancements promise a transformative impact on how industries manage and utilize data, making ERP systems not just tools for management but vital instruments for strategic decision-making and innovation.

Work with Cre8tive Technology & Design this Decade

Get ready for the next decade with a trustworthy ERP provider in Cre8tive Technology & Design. As the Epicor Global Partner of the Year, we have the proven experience necessary for adapting to technological advances in the manufacturing industries. Stay on top of the latest ERP software trends and ERP technologies through CTND. Contact us today to see how we can tailor ERP solutions to your business needs.

Posted in ERP