As is well known, digitization in India is proceeding slowly, and there are still few companies that have really understood its importance and are actively investing in business management software. Part of the blame for this delay is to be attributed precisely to the structure of Indian entrepreneurship, made up of companies that are often small, and very often even family-run.
The paradox is that companies are also constantly looking for an increase in the customer experience, to emphasize it to build loyalty. In the various management solutions, elements such as artificial intelligence, cloud, mobility are becoming increasingly popular. The market evolves, and the management systems for companies follow the same parallel path. But what are the 5 biggest trends of 2021? Let’s find out together in the next few lines.
Business Management Software: The Importance Of Planning
The last period was certainly particular for many points of view, and the economic upheaval due to the global pandemic has affected almost every sector and type of company. Unfortunately, many companies did not hold up, and in all probability, many others will not be able to do so shortly. Many other realities, on the other hand, were decidedly lucky to pass this period unscathed.
The only way to preserve this fortune, however, and make it a stable situation, is to proactively look to the future. For this reason, companies are determined to reinvent the business model.
In other words, we speak of being completely transformed from top to bottom by renewing internal processes. But it was precisely this situation of general uncertainty that allowed many organizations to take the first step, which is to become aware and recognize the importance of management software.
Traditional supply chains have been disrupted, there has been a sudden shift from traditional in-store to online sales, and how many workers work in companies has also changed. In such a scenario, therefore, planning has become even more essential.
Management Software For Companies: The Cloud
In the current state of things, not all companies have yet implemented a business management system, and this is more valid for small businesses. Those who have not done so are becoming aware of how this lack will cause a lot of problems in their businesses. The real risk is that they may lag and exit the market, or in any case, worsen the quality of the business.
Precisely for these reasons, many companies are finally starting the transformation process, while many others are updating their business management software by equipping them with cutting-edge features. One of these concerns the cloud. Many say that an ” on-premise management system ” will no longer be enough. The forecasts are all unanimous, and see the use of cloud platforms as predominant in the future.
The reasons behind these considerations are many, and concern the infinite advantages of cloud systems over others. Among the main ones, we can mention speed, resilience, agility, and the infinite possibilities of innovation. These are all factors of objective criticality, which allow companies to improve their position on the market. Therefore, it is essential to reinvent the processes to fully exploit the aforementioned advantages.
Artificial Intelligence And Mobility
Artificial intelligence is moving from the phase of simple hypotheses to being used in the field in many realities. AI has already made it possible to identify fraud in banking and financial services, the reduction of errors in business processes, the detection of anomalies within company contracts, and many other situations. As explained above, the pandemic has abruptly disrupted the traditional supply chain.
Artificial intelligence systems are therefore increasingly implemented to allow companies to overcome the fluctuating situation due to delays and shortages of supplies. AI systems allow companies to carry out simulations to develop emergency plans. Thanks to the assumptions of unlimited scenarios, organizations can find life-saving alternatives.
Developing mobile applications is of paramount importance for modern businesses. Organizations must take the data obtained from ERP systems to make them subsequently accessible to collaborators, and regardless of the place and time in which they work.
Wanting to give a concrete example, companies desire to have as few people as possible in the factory. However, employees who are not in the workplace need to monitor workflows and solve a series of problems related to ERP processes. It is therefore a function that must also be performed remotely, through applications on the preferred mobile device capable of communicating with the ERPs.
Business Management: Why It Is Important To Customize It
Unfortunately, in the current state of affairs, not all companies have the time, experience, and financial resources to customize business management software and related applications. This difficulty is encountered above all by the smaller entrepreneurial realities, and for these reasons, they tend to prefer plug-and-play solutions. Larger organizations, on the other hand, are focusing on the implementation of new ERP modules.
The ERP software houses have clearly understood the new needs, and have been able to standardize their offers so as not to make significant customization steps necessary. In addition to this, they are also releasing industry-specific versions, which once again reduces the need for customization.
There are some aspects, however, that necessarily require some customizations, especially when they are able to provide differentiation or in any case a business value. From this situation arises the tendency to transfer the power to intervene to non-technical business users, allowing them a light configuration of the ERP systems. This trend is rapidly gaining momentum.
Customer Experience And Attention To Employees
We have said that improving the customer experience is one of the greatest needs of modern businesses. For this reason, business management systems are increasingly adding new features in this sense, such as automated voice assistants, or live chats managed by bots to provide interactions in real-time. All of these systems are linked to ERPs to provide a truly personalized customer experience.
You should also think of customer and employee experience from a less conventional perspective. How can you improve the way your team works and reduce the time they spend on administrative tasks? Businesses ought to be looking at business management tools like contract automation software, and HR software, for example. These types of software automate time-consuming tasks that would otherwise need to be completed manually, and introduce a more efficient workflow for all areas of the business, from the way you capture revenue to the way you bill clients and track job applicants.
For the best results, you should identify your company’s pain points and look for software that addresses these directly.
In addition to this, the most advanced ERPs can provide customers with omnichannel experiences, to allow them to interact with any device available. But also on the part of the employees, the attention is increasing, and some elements are introduced in this direction. From virtual reality to gesture activation, these systems allow for a series of hands-free activities.
Business Management Software: The Thoughts For 2021
As we look positively to 2021 and the future in general despite a current situation of uncertainty, cloud, mobility, and artificial intelligence are increasingly invading the ERP landscape. The ultimate goal for companies is to reduce the complexities and criticalities, consequently trying to increase the speed of innovation. Of course, a lot of work is still needed.
There is still a long way to go from the point of view of ERP implementation. Suffice it to say that at the moment only one in 5 companies is equipped with an ERP system in our country, and one in three has a CRM. Digitizing the Indian entrepreneurial fabric is therefore a long process to be completed, in a scenario made of lights and shadows that sees the introduction of these systems more as a cost than an investment.