The giant global research and advisory firm, Gartner Inc., recently release their “Hype Cycle for Postmodern ERP, 2018” report. The Gartner report evaluates Enterprise Resource Planning (ERP)-related solutions in terms of their business impact, adoption rate and maturity, to help IT leaders decide where and when to invest.
Gartner writes, “disruptive technologies are making significant impacts on postmodern ERP. CIOs must begin to incorporate these emerging technologies into their postmodern ERP strategies. As they develop and mature, these disruptors will change the way we do business and alter the way we think about ERP itself.
ERP software helps enterprises to use integrated solutions for business management and to automate certain department processes of an organization, like Human Resources. Towards the beginning, when ERP software first came into the market, it was primarily designed for inventory management. Today, ERP systems have evolved to encompass a lot of other back and front-office operations.
In order to fully understand ERP, it helps to take a step back and consider all the processes required to manage a business – which is a lot. These processes include anything from Customer Relationship Management (CRM), order management, inventory management, labor management, HR, accounting and finance, etc.
ERP systems tie together and define a plethora of these business processes, and enable the flow of data between them. By collecting an organization’s shared transactional data from multiple sources, ERP systems eliminate data duplication and provide data integrity with a “single source of truth.” Today, ERP systems are critical for managing thousands of businesses of all sizes and in all industries.
According to the report, cloud-related technologies and services are emerging and maturing as demand for ’all things cloud’ continues unabated. Some of the advantages of cloud ERP potentially include lower cost of implementation, faster time to benefit, reduced cost of upgrades, and lower capital expenditure. Cloud ERP also provides the benefits of standardized processes and state-of-the-art user experience (UX), better analytics, and financial transparency — important concerns for profit-oriented companies.
The 2018 Hype Cycle for Postmodern ERP report provides an analysis of what you need to know, the hype cycle, the priority matrix, what technologies are on the rise within the ERP space, and which ERP environments are at their peak. For instance, technologies such as blockchain, Artificial Intelligence (AI) and cloud are all maturing technologies within the ERP space this year. Cloud ERP for manufacturing, hybrid integration, and IoT-enabled ERP are some of the business environments on the rise in postmodern ERP.
For more information, download the “Hype Cycle for Postmodern ERP, 2018” report.
Looking for more? Download our ERP buyers guide for free and compare the top-24 products available on the market with full page vendor profiles. The guide includes four key capabilities to look for in an ERP solution, plus five questions to ask yourself and five questions to ask the software provider before purchasing. It’s the perfect resource for anyone looking to find right ERP for their business/organization.
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