What Are Modern ERP Systems?
On-premise ERP
On-premise ERP systems can only be operated from one location, that being the workplace. It cannot be accessed via the internet and, as the name suggests, cannot be connected to a device outside of your workspace. The most significant advantage of this type of system is that it lets companies fully control their infrastructure by storing it in one place. Some also regard this are a more secure ERP system to manage all departments, employees and processors in the organisation. However, on-premise ERP systems are more costly as they require each employee controlling the ERP system to be licensed and may incur expenses in purchasing business servers for additional storage.
Web-based ERP
A web-based ERP system is an ERP solution delivered over the Internet, which can be accessed within a web browser. It allows the company to set up the web application and database on-premise or reside in a third-party data centre. A web-based ERP system can be sold using an on-premise licensing model or a cloud-based subscription. Its installation is fast and is easily compatible with any device. As it can be merged with both on-premise and cloud-based systems, this is one of the most flexible and user-friendly ERP systems.
Cloud-based ERP
Cloud-based are commonly regarded as SaaS or Software-as-a-Service. This means that all data in a company is in one inter-connected platform that can be accessed through a Remote Desktop Protocol (RDP). It requires a Remote Desktop Connection to be installed into the device that will hold your ERP system. Cloud-based ERP systems are a much cheaper alternative to an on-premise ERP system for many reasons. This includes its ability to be easily upgraded without drastically impacting existing data or the company’s customised features. It additionally allows managers to assess real-time data and does not require the company to implement hardware every time it expands its business. Whether a company is small or mid-sized, a cloud-based ERP system can be implemented according to one’s budget and hence, is not a feature only accessible to large corporations.
Three ERP Trends in 2022
While almost all companies that have adopted ERP systems today are cloud-based, not everyone may have implemented the most suitable type of ERP system. As the business industry evolves rapidly, a good ERP’s features should constantly upgrade and adapt to the market. According to a report by Markets and Markets, a total cloud-based market will reach around USD 832.1 billion by 2025. Therefore, to stay among leading industrialists, managers should be aware of the emerging trends in 2022.
Here are three trends you should not miss out on before it is too late:
Two-tier ERP and Personalised Solutions
Companies tend to believe that having one ERP system for a large organisation that has subsidiaries is the most efficient. While this may be the case for a small-scale company, it is not the best way to optimise operations for a company with regional subsidiaries across different parts of the world. Subsidiaries have specialised tasks, so infusing them into one general platform may not be the most feasible solution. Extending a primary ERP system to control various business units or subsidiaries that vary in reporting and compliance structures may complicate things more.
On the other hand, as implied by its name, a two-tier ERP holds two systems to address the needs of one large business. Accordingly, one tier of ERP is exclusively customised according to the requirements of the headquartered company, whereas the second tier is customised according to the needs of its subsidiaries. Both these are nevertheless interconnected as they do run simultaneously. Therefore, adopting a two-tier ERP system has been a trending solution for enterprises that require a powerful ERP system at the corporate level while having a more focused ERP system that meets the necessities of subsidiaries in other regions. The fact that each tier can be customised gives a personalised feel to each company, making it more accessible.
Powerful Analytical Tools
As automation unlocks a company’s potential, one significant trend in ERP systems in 2022 is merging advanced analytical tools in ERP systems. By assessing operational and consumer data, the predictive analytics tool can feed on enormous amounts of real-time information in seconds and offer updates on market changes in the relevant industry. Predictive analytics can further warn manufacturers of any machine breakdowns, giving ample time to fix issues before they occur and not suddenly halt operations. Additionally, incorporating advanaced system integration helps companies adopt a consumer-centric approach through sensors. Logistics and warehouses particularly find this useful as parcels can be tracked by the company and the consumer wherever it is in the world. Experts have estimated that businesses will use IoT more frequently in the coming years. Consequently, companies will now expect ERP systems to have smart digital technology infused solutions.
Access It From Wherever You Are
At one point, society believed that work could only be done at the company premises, which meant that employees had to be present in person to access all work files. However, since the pandemic occurred and web-based ERP systems became more popular, remote work is now regarded as equally productive. Hence, by providing access to employees to log in to the ERP system through other applications, such as their mobile phones, anyone can keep track of all projects at any time. This also allows managers to review, approve or make decisions from home during an emergency. It also significantly helps directors and shareholders in global corporations to access files in their regional firms more efficiently, regardless of the time difference. Those with a cloud-based ERP system can also connect to another device by connecting the RDP to the internet. It should be noted that a VPN will be required to gain access to the cloud.
Tigernix ERP System: A Fit-To-All Industry ERP Software Solution
- Web-based accounting software with general ledger, account payable, and account receivable modules
- Conform with Singapore GST taxes
- Suitable for small business accounting
- Web inventory management software
- Web-based quotation and sales management
- Web-based purchase request and purchase management
- Web-based manufacturing management (MRP)
- Web-based project management software
Stay Up to Date on the Latest Trends to Be an Industrial Leader
As each year passes, trends in ERP are meant only to help you as a business to carry out operations reliably whilst saving your overall finances and resources. Not only does implementing a new upgraded ERP system help you organise your in-house processors, but it also increases your productivity. Therefore, it is pivotal that you keep up with the latest trends in ERP systems and integrate them to be an industrial leader.
