Cloud, integrations top ERP trends in 2024
In this new year, enterprise resource planning (ERP) will continue to run as the powerhouse system for a business. While the common environment will tend to be on-premise, the cloud migration of ERP is fast becoming the new norm. Coupled with the integration of technologies such as generative artificial intelligence (AI) into ERP systems, the ERP landscape is full of many opportunities this year and beyond. Jim O’Donnell, ERP expert and news writer for TechTarget Editorial, shares an article featuring new ERP, cloud and integrations we will see this year.
Cloud ERP momentum continues. “The movement toward cloud ERP will continue in 2024, according to experts. Much of this will be driven by a desire to access cutting-edge features such as AI and the need to modernize business processes. The overarching ERP vendor strategy is also centered around moving customers to the cloud, and technology development is centered on cloud applications, said Isaac Gould, research manager at Nucleus Research.”
Useful generative AI will appear slowly. “Transformational GenAI applications are still a few years away, but generative AI chatbots will prove to be useful productivity improvement tools, Gould said. He states that a lot of this is around helping people query their data. The idea is that these copilots allow you to ask questions on your own data, essentially helping you generate and pull reports very quickly. GenAI is overhyped right now, and it will take time to see actual use cases showing up inside ERP applications, said Greg Leiter, a research director at Gartner.”
ERP expands to include more functionality. “ERP platforms will expand to include more functionality that has been in standalone applications, and new capabilities will be integrated more outside the core ERP systems, according to the experts. Large ERP vendors such as IFS, Infor, Microsoft, Oracle and SAP are looking to extend their systems to make them “stickier” by giving customers more options to consolidate functionality, Gould said.”
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