Why Are Large Enterprises Considering Moving To New Age ERPs ?, IT News, ET CIO

From Dhrumil Dhakan

ERP solutions are accelerating rapidly in this day and age and also offer uniqueness due to innovations through artificial intelligence, data analysis, user experience and automation. These changes will benefit businesses by giving them more transparency and flexibility in terms of resources, and next-generation ERP solutions will also help make the business more efficient.

During a panel discussion on the topic of “Building a sustainable company on modern ERP”, industry leaders gave insights into the biggest trends in modern ERP and how it helps shape the operation of the company.

Abhijit Katkar, Partner, Deloitte India, believes that the definition of ERP deserves a revision today: “In the digital age, the avatar in which companies implement ERP and speak or mean ERP is very different than it used to be. Therefore, I will only share a few trends from my point of view by advising and working with several customers around the world and in all industries. “

Katkar believes that while the basic requirements for improving operational efficiency, providing data for decision making, and so on, will remain the same, the way companies get value from their ERP investments will be fundamentally changing.

“In this context, I want to be very clear about three or four megatrends that I see, the first trend that I see is hyper-connectivity. So today we are building systems not just for our company, but for a broader ecosystem. When we mean ERP today, we mean advanced enterprise ERP for our ecosystem partners and others, and this is only possible because today’s ERPs offer open architecture, APIs, and endless connectivity to IoTs and OTs in the world, ”he said of Today’s Idea is not just implementing ERP for the company, but basically orchestrating a system design with multiple ERP components or solutions that take care of the business needs. ”

The second trend mentioned by Katkar is hyper-automation. He says that in the past ERPs were used to provide data or reporting requirements, today ERPs are used to assist the company with its future needs by providing analytics.

The third trend in the ERP world is continuous improvement. There is an incremental but continuous update and functional functionality that enriches the ERPs. “

Regarding the last trend, he says, “The last trend I want to talk about, which is particularly relevant in the context of the cloud, may have to do with external factors, but there is greater geographic localization of regulation. What I mean by that is that there are new regulations regarding data protection, data residency and data ownership that are in stark contrast to the cloud concept. “

While there have been some significant changes in modern ERP, it is important to see if it can handle the dynamic changes in the business environment. Ashish Desai, VP, IT & CIO, Aditya Birla Group sees the answer in two ways.

Believing that today’s ERP is more focused on the commercial aspects of the business, he adds, “The company’s futuristic demand is how I can use the data in real time.”

“So the need for future business is how we can get everything from ERP in real time? How can I use the data to turn it into real-time analyzes? How can we use this data to provide real-time information or use this data for hyper customer journey mappings? How can we integrate OR systems into the ERP, which can help us improve productivity while providing real-time analysis, ”said Desai.

Dinesh Talniya, Chief Information Officer, APL Apollo Tubes believes that ERPs shouldn’t be run on their own these days. “ERP, you will refer to it as a stand-alone system for internal organization. While the organization has now become an integrated type of organization made up of customers, suppliers, other stakeholders and ERPs and does not work as a common tool for everyone, ERP is used to maintain and manage the business internet is from now on, “said Talniya, while discussing whether the company’s current business priorities match the technology stacks already in place in the company.

Jagdish Kumar, Group President & CFO, Anand Auto shared his thoughts on how the ERP systems are helping the company’s financial transformation and stated, “As a user of the system, there are two aspects of ERP, one is very clear, that ERP alone is limited today and the reason I am saying this is that we have seen multiple implementations over the years and while the world is changing too fast, the ERPs on their own are rigid and out of rigidity to some extent, there is a way Things to do. The moment you say things should be more flexible, you see that the cost of implementation skyrockets. “

The second aspect, according to Kumar, was the existing interfaces. He took this point further, noting that they are being driven more globally. “Things are changing so quickly in the real world, especially in India, given the saturated demands and other things, sometimes it looks like the rigidity is affecting it to work.”

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