The Future of ERP

Welcome!!!!

Enterprise Resource Planning(ERP) is going to change the analytics domain. But How??

Okay, let's talk about the basic idea of ERP. Say, you are managing an organization whose core model is logistics and Supply chain. Here, if you need to know how much new equipment is needed to meet the upcoming orders. You may reach the accounting team aka finance team to know the available budgets and Goods Maintenance team for existing goods and materials which are in stock. Generally, all the departments will maintain their records and it is a little difficult task to search the required information on multiple records. So, how it could be when there is a tool that integrates all of these into one common platform?

Yes, it's nothing but an ERP

How it is going to change the Analytics field?

What could be done with the data?

As we know, Data is a new fuel that is driving the organization. Analytics is been there for a long but we got introduced to multiple tools.

It is all about getting some insights from the relevant data that could help to make better decisions!!

If an organization wants to re-engineer its strategy, it is a must to look back at the organization's data. Getting a sales prediction from sales data, Spotting the weak point in revenue through accounting data, Getting employee's mindset from the internal review data...the list goes on!

So far, Companies used to hire a Data Analyst, Data Scientist, Business Analyst to get the Analytics part done. Employees may need to have Data Skills such as Python, SQL, Machine Learning, Cloud Deployment, Data Analysis, Data Visualization to get insights from the Data.

Extracting Data from an ERP tool and using different Analytics techniques to derive the decision. But how it could be when an ERP tool itself provides Analytics Module?

Analytics in ERP

There are many ERP leaders in the market like SAP, Salesforce, Workday, etc...

Even in ERP, it is further classified into 2

1- On-Premise

2 - Cloud

If you know the functionality of the cloud, then you will relate to On-premise since it is exactly the opposite of the Cloud.

The majority of the ERP providers have moved to the cloud, all the companies using these ERPs are slowly moving to the cloud as well. Since there was a high demand for Analytics professionals, all the ERP providers have introduced the Data Analytics, Machine Learning module that got integrated with the Existing ERP tools.

SAP's Built-In intelligence

Workday's Machine Learning component

Salesforce's Einstein tool

All of these implementations come with the idea of capturing the Analytics field to make it user-friendly and easy to access across the industry.

What impact will it make?

In the end, all the Machine Learning models are going to be clubbed with the data pipeline for easy use of Analytics to the end-users. Now, the ERP tool itself makes it an easy job, So it will create a separate market and reasonable demand for professionals who can handle both ERP and Analytics along with the cloud. The future job requirement would include lots of must-have skills. A person should have a basic idea about the cloud, ERP, Analytics, and Reporting. Near future, we may not need software developers instead, the UX/UI designers and an ERP consultant with Analytics knowledge would be in demand.

Conclusion

Observing the ever-changing technologies and keep developing ourselves with proper adoption is what leads us to long-term success. For sure, the future job market will be completely different from what we experience now. We must be sensing the trends to grow along with society.

In the next blog, I would like to discuss No code/less code developers.

-Sree