Upcoming Trends in ERP & Its Benefits to Educational Institutions
The systems once developed to accurately determine the number of items to be purchased for the next inventory cycle, namely MRP (Material Requirements Planning) tools have come a long way from just assisting the manufacturing industries. They underwent a transition through MRPII systems and have finally evolved into a much more structured and versatile tool named ERP, which can handle all tasks related to management for almost any organization in an efficient manner with minimal effort. Yet, improvement is a continuous and unending process and ERP systems are no exception. Below is the list of upcoming trends observed in the sector:
- Cloud ERP
Integration of ERP systems with cloud computing has made the ERP systems to be available as SaaS (Software as a Service). The availability and accessibility of precise data across the supply chain have helped the process to become much more transparent and has reduced human effort.
- Data Analytics
The advent of big data analytics has assisted in evident predictions for future events. This has been instrumental for the ERP systems since a lot of activities depend on the forecast. The advancements in analytics have increased the efficiency of the systems.
- Adoption by mid-size Industries
With the popularization of ERP systems, a lot of people have recognized its potential and have stepped out of their mainstream philosophy of ‘old is gold’ and have accepted it as their ultimate management tool.
- Enhanced Security
The major concern for all the people in the world from different industries including education, intelligence, medical, financial, etc… revolves around security of information. The integration of internet with software’s poses a risk to the data held by organizations, but the continual improvement has been seen on accounts of security embedded in the ERP systems so that the users can be sure their information stays secure.
- Social Media Integration
The sudden outbreak of social media has not only acquainted the average people with technology but has also improved communication systems. In today’s world, social media is one of the most important tools in connecting diverse people with similar interest.
The ERP systems nowadays contact the non-employees by the means of social media. Many organization globally uses social media to enhance collaboration internally with the employees as well as externally for clients.
Acceptance of mobile internet has been the phenomenon for quite some time and it is only fair to assume that they will take over bulky computers and laptops for complex systems like ERPs. Some companies offer mobile services at present, but their use has been observed to be limited.
The above-mentioned advancements specifically help the implementation of ERP systems in the education industry. Be it the availability of systems as SaaS, or the accessibility of students’ data to the parents through a combinatorial effect of social media, mobile technology, and cloud computing, the changes favor an increase in acceptance of the tools.