Business management systems are constantly evolving and adapting to the changing needs of companies and their competitive environment. ERPs continue to mature and expand their features to support as many business management demands as possible by incorporating new technologies and ways of using and presenting information in fields as diverse as sales, purchasing, inventory and production.

The following are some of the key features that are likely to be trendsetting in 2024 in the ERP field.

ERP in the cloud

Although in recent years more and more companies have migrated their ERP systems to the cloud, it is expected that more reluctant companies in this paradigm will take the final step given that cloud management systems have proven to be fully functional and reliable. In fact, the mutitenant software model (multitenant is a software architecture that allows a single software instance to serve many customers) is expected to become the standard decision for companies.

Indeed, companies continue to embrace cloud ERPs because of the many indisputable advantages they offer: easier implementation, lower costs, more flexible solutions, access from any device and location, new functionalities, easily adaptable to the growth of the company.

In reference to the data managed by the ERP, there are also enough reasons for companies to switch to cloud management systems. For example, there is a gain in factors such as:
  • Scalability: scale to capacity of storage and processing systems in a flexible manner.
  • Security and trust: the cloud offers levels of security and data protection that are improving in the face of possible threats.
  • Collaboration and productivity: access from anywhere, anytime. Always-available systems on which teams can easily share and collaborate.
On the other hand, the Software as a Service (SaaS) model characteristic of ERP systems in the cloud is a format without high costs and monthly fees, adaptable to changes in the volume of users or licenses contracted, automatic updates model (and not updates in each and every one of the desktop computers that required the previous model of 'office') In short, much more flexible and adaptable to changes in the needs of organizations.

Increased emphasis on integration with AI and data analytics

The enormous amount of data that ERP systems store and the continuous creation of more and more data will lead to the incorporation of new elements in business management systems, including some related to AI in order to achieve greater automation of processes and more accurate data analysis to assist in more intelligent decision making. In this last aspect, it should be noted that integration with BI (Business Intelligence) tools continues to be a trend.

These improvements will help the different companies, in a market as competitive as the present one, to:
  • Identify growth opportunities
  • Enhance the strategic vision of organizations.
  • Predictive analytics: demand forecasting, production organization, inventory management, etc.
Customization of ERP solutions

In 2024, ERP software vendors are expected to continue the trend, already started in a major way in 2023, of customizing the behavior of ERP solutions to the specific needs of each company. Improvements in the traditional interface, process acceleration and automation of routine tasks will be objectives to strive for.

On the other hand, the nature of ERP management systems in the cloud is focused on interoperability and collaboration with other software tools since the Internet is oriented to the exchange of information and services between different solutions, which undoubtedly brings great power in all aspects to these systems.

In short, ERP systems and the technologies that support them will continue to evolve in 2024, and human factors will become increasingly important and set the path for their evolution. Cutting-edge technologies and a customer-focused perspective will combine to increase productivity and value for businesses.

To take advantage of these benefits, it will be essential for the company to have a multitenant software that is adaptable to its characteristics and hosted in the cloud.

OnERP, the best ERP for your company.

From OnERP we invite you to try our online management software. We are prepared to offer optimal results in the management of your company. We can give you a free online session. If you come from another management program, we will import the data to the OnERP system free of charge.