Industry executives and experts share their predictions for 2023. Read them in this 15th annual VMblog.com series exclusive.
2023 ERP Predictions and Technology Trends
By Gina Parry, Distribution Sales
Manager, VAI
As 2022 unfolded, we experienced ongoing supply chain
challenges, the continued shift from remote to hybrid work for many businesses,
persistent cybersecurity attacks, labor, and inventory shortages, and more. The
year saw even more companies shore up security defenses and move their
enterprise data to the cloud. As we look ahead to 2023, what can business
leaders expect? The following are a few predictions for companies across all
industries and offer insights into the future ERP marketplace.
Focus on
Cloud Migration
Companies will continue to move from on-premise to
the cloud. Many companies that have on-premise ERP are facing challenges of
end-of-life operating systems, difficulties finding IT staff, remote employees
needing access to systems, and inadequate defenses against ever-evolving
security threats, especially ransomware attacks. Therefore, the cloud market
will need to become even more flexible in 2023. This includes taking holistic
approaches to security and data storage, offering real-time security
monitoring, analytics, and more to help businesses get the most from the cloud.
This becomes even more critical when considering that remote work is here to
stay for many businesses as we head into the future.
The benefits of moving data to the cloud are
numerous. Cloud providers adhere to the latest cybersecurity policies and
protocols, ensuring systems and networks meet regulatory compliance standards.
Additionally, cloud providers monitor your data in real-time and provide 24/7
support.
Cybersecurity
and Data Protection
The most important tech story by far in 2022 has been
cybersecurity. It's no longer just covered in tech media; the major media is
reporting this topic almost daily. Organizations are projected to spend a
collective $188.3 billion on information security and risk management products and services
in 2023, according to Gartner. This is impacting everything from governments
and large corporations to very small businesses and individuals. This can range
from something as severe as ransomware attacks down to daily phishing attempts.
Security first is a practice all businesses should
follow. Without security first, there can be no stability, scalability, and a
highly functioning cloud environment. Businesses cannot operate today without a
security-first model - it's now become imperative.
Cybersecurity will continue to be one of the biggest
and most severe disruptors for businesses, governments, and institutions of all
types across the globe. In 2023 we will see many instances of ensuring secure
operations utilizing advanced AI to detect the ever-changing malware landscape.
Ongoing advancements in tightly securing clouds are also going to continue
cloud adoption.
Mobile
Access is the Road to Success
Mobile tools are now critical for businesses and
provide streamlined and real-time capture of data straight from the source. For
example, sales reps. can place orders immediately and directly from their
mobile device when meeting with a customer, and customers can place orders
immediately while they are checking inventory, at any time. Companies need this
accurate and timely flow of data to make smarter, better-informed business
decisions. The offline capability of mobile enterprise solutions (with data and
processes syncing as soon as the user is back in the Wi-Fi range) will continue
to be increasingly demanded as well.
An ERP solution that offers mobile applications also
gives supply chain managers full observability of the warehouse, allowing them
to quickly patch fixes if something goes wrong.
Evolving
Artificial Intelligence
Artificial Intelligence (AI) is not yet accessible
enough for the average business employee and will continue to evolve in 2023
and beyond. Today, embedded analytics helps users gain some insight, but full
access to AI is still complex and not
yet ready for prime time. However, AI has already affected almost every major
industry, particularly in the past few years, as data collection and analysis
have ramped up considerably because of robust IoT connectivity, the
proliferation of connected devices, and ever-speedier computer processing.
While some sectors are just beginning their AI
journey, others are veteran travelers, and both have a long way to go.
Regardless, the impact AI is having on our present-day lives is hard to ignore.
The next generation of intelligent ERP systems must be accessible to the
average user. In the future, ERP vendors will continue to evolve their
solutions to incorporate AI to help companies streamline business processes and
achieve new levels of efficiency.
Moving into 2023, we'll see businesses continue to
place more emphasis on technology such as cloud, cybersecurity, data
protection, mobile applications adoption, and evolving AI to ensure maximum
business success in the years to come.
##
ABOUT THE AUTHOR
Gina Parry, Sales Manager, VAI
In her current role as Pharmaceutical Sales Manager at VAI, Gina
engages directly with prospective clients in all phases of the sales process,
from initial contact, software product demonstrations and business needs
evaluations, to the closing of the sale. Gina has extensive knowledge of the
VAI S2K Enterprise Software, working closely with the VAI development team to
enhance specific functions and features of the S2K ERP package. As a key
representative, Gina regularly leads webinars, lectures, and speaking
engagements, and serves as a key spokesperson with media.