So much has changed in the past decade with enterprise software. As enterprise software vendors strive to keep pace with current trends and technological developments, they are adding new features and functionality that reflect the evolving business needs of manufacturing organizations everywhere. Following is a short list of the ERP trends that we expect will continue throughout 2017.
The future is bright for embedded analytics
Embedded analytics refers to the use of reporting and analytic capabilities in transactional business applications, providing users with relevant information so they can work smarter and more efficiently in the applications they use every day (without having to leave that system). Many manufacturing companies are seeing the value in this -- and the desire to have this ability continues to rise in importance in 2017.
A recent article from CIO.com further supports this trend, citing a quote from Vice President & General Manager of OpenEdge, Progress, Colleen Smith: “In 2017, ERP applications will provide an embedded analytics engine to address the heavy lifting required to manage operational data. These engines must be able to parse data, present it clearly and include data from a multitude of sources.” Smith also concedes, “Many companies will need to add an embedded analytics engine to their existing infrastructure, as the ERP apps they’re using were likely built over a decade ago.”
One of the ways that this can be supported is through embedding modern query/reporting tools into exit points in your applications. By leveraging those tools, organizations can create reports that drive decisions across several key business areas. For example, such reports might provide critical insights on inventory (dead-stock or last-in, first-out), customer sales (dashboards/back-end data), various financials (credit/debit and cash batch reports) and so on.
Data visualization follows a similar track
In simple terms, data visualization refers to producing user analytics through graphical representation. This feature, which also provides strategic insights for manufacturing organizations, is increasingly important this year. According to Monica Georgieff, head of marketing at Kanbanize, “Visualization is becoming a more significant feature, as large ERP providers acquire or develop external hardware-software integrated systems that can visualize team analytics on dashboards.”
A growing need for ERP security
A range of factors – rising security threats, increasingly connected ERP platforms, increased regulations – are driving the explosive demand for application security in 2017. Security threats, to both customer data and intellectual property, have increased in both volume, complexity and sophistication.
Again citing CIO.com, KPMG Partner in IT Governance, Risk and Compliance Tony Torchia states, “’The cost and complexity of managing the internal control environment is also on the rise," which is due “in part to the highly manual and inefficient internal controls that continue to be used. Because of this risk and the trend toward more breaches, a focus on better ERP security is badly needed.” Alongside these rising security threats is the growing awareness among organizations for better ERP security, with many incidents of breaches having been recently highlighted in news headlines.
Why partner with PSGi?
PSGi offers a unique approach to today’s technology trends. With in-depth knowledge and expertise in analytics software solutions and their underlying business systems, we understand what manufacturing companies are looking for. Because of our industry expertise in the manufacturing environment, we drive results quickly and more accurately than many of our competitors. On top of analytics solutions, PSGi can provide a comprehensive security audit and assessment of your IBM i environment you have ensure your business has the best-fit security solution in place.
Source: Lonoff Schiff, Jennifer. (2017, January). What 2017 Holds for ERP Software. Retreived from https://www.CIO.com.