Leaders share insights on the latest ERP trends and how organisations can successfully transition to next-gen cloud-based ERP technology.

Through 2020, we saw many organisations make the rapid shift to cloud infrastructure and services. The nextgen Cloud ERPs are core to that trend, offering reduced complexity as businesses grow, and flexibility and efficiency to the backend operations to enable profitable growth. But adoption and transitions are not without challenges.

The “Next-Gen Cloud ERP – A Must Have to Support Profitable Growth” webinar explored the benefits and risks of migrating to cloud-based ERP platforms, with a panel of highly accomplished leaders sharing insights, experiences, and advice to help organisations navigate ERP transformations.

Moderated by Grant Wild, Managing Director at Wild Tech, the webinar featured Kamal Prasad, Digital & Technology Advisory Partner at BDO, Richard Ward, Market Intelligence and Competitive Lead at NetSuite, and Newman Holden, Managing Director at Eden Healthcare.

To view the webinar click above, otherwise we explore insights from the discussion below as the panel delved into the latest ERP trends and what they mean for the future of business.

For example, many organisations are simply lifting and shifting their on-premises ERP to the cloud, meaning they’re migrating their problems too.

However, not all clouds are equal. There’s a difference between being built for the cloud and being hosted on cloud-enabled infrastructure. For businesses to be ready for whatever challenges or opportunities the future brings, they need a cloud-first approach.

Another trend discussed in the webinar is the growth of ‘low code and no code’ ERP. Vendors are focusing on empowering non-technical business teams to configure their own ERP, instead of having to rely on developers to deliver every customisation.

The panel also shared plenty of tips to help organisations navigate the future of ERP, including:

  1. Adapt proactively – Don’t wait until problems arise before making the changes you need to become resilient
  2. Design for tomorrow – Don’t focus on addressing today’s needs because they’ll constantly shift
  3. Adopt in stages – Unlike traditional ERP systems, cloud-based platforms are flexible are scalable, so they work well with incremental adoption
  4. Manage change strategically – Technology has little value without buy-in from people, so you need a plan for getting everyone on board
  5. Continuously optimise – You need to continually improve your ERP platforms and processes for efficiency

For organisations ready to begin the search for their next-gen ERP solution, the panellists recommended entering the process with a future-focused mindset. Rather than going into the evaluation with only features, function, and price in mind, businesses also have to consider the long-term impact of the decision.

When ‘all vendors look the same’ – a commonly shared sentiment among organisations looking to transform their ERP – the panel also suggested going beyond the Google search engine and getting insights on vendors from technology research firms, like Gartner and IDC. These firms evaluate vendors based on a range of factors, including customer satisfaction and product reach.

Other points should also be considered, like how the vendor invests in improving its products, as well as the scalability of its solutions to ensure the business doesn’t outgrow its ERP. The speed, adaptability, and level of automation offered by ERP products are important technical factors to take into account as well.

The move to next-gen cloud-based ERP systems can be daunting, but the right platform can unlock new revenue streams, increase efficiency, create adaptive workplaces, and much more.

Watch the webinar for more valuable insights and advice.

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