What all can you order through the internet today? Or to make your answer simpler and shorter let me ask what can you NOT order through the internet today? Ranging from groceries to spectacles, food to electronics, the power of internet has entered each and every aspect of our lives. This is know as the Internet of Things, the fact that internet has the power to merge with so many things and provides services in so many categories. Internet of Things has made waves since its upsurge into the tech-driven business world, since the day its real power was realized by a few companies and entrepreneurs. With the endless opportunities that it provides, almost every other industry is looking for potential ways to reap its promising benefits by either providing better services or better products. Incorporating this into the legacy Enterprise Resource Planning systems will greatly help in making them more efficient, more integrated, more dynamic and more secure if it can use the IoT to its advantage.
ERP solutions are known to bring augmented efficiency, improve customer service support and reporting for organisations of all sizes and volumes, irrespective of location or category. These functions can become more beneficial for the organisation when integrated and paired with the power and efficiency of IoT. Hence, expecting a great impact on ERP, here we provide an overview on how ERP and IoT integration will play a big role in productivity enhancement for businesses.
IoT has been Evolving Conventional Business Models
This technology is rapidly changing the legacy business processes thereby, making them more structured than ever before. It is true that every other organisation is trying hard to tap the benefits, however, not every one of them has succeeded in deploying it effectively.
This typically requires a shift from the fundamental architecture across all the business layers starting from data collection to work culture. This paradigm shift is certainly not going to come overnight. It needs situation analysis, planning and proper preparation. Thus, on an advisable note, you can build a long-term plan for all phases of your business to make it IoT compatible. The real benefit of IoT can be realized only when all levels and layers of the organisation adapt to this change and inculcate it in their day to day functioning.
Areas That will Enjoy Maximum Benefits of IoT and ERP Integration
The major goal of an ERP software is to deliver relevant information to the strategy makers of a company. However, accurate data collection is quite daunting and complex. On the contrary, IoT has immense potential to expand data availability, reduce data collection time, organize collected data and improve efficiency. This, in turn, will help entrepreneurs in business intelligence, customer service, inventory management and forecasting to improve their services, reduce time and hence reduce cost, in turn optimizing the process.
Considerations for IoT Integration
Apart from discussing the impact of IoT on ERP, here we also discuss some of the major considerations to make an organisation’s legacy ERP system compatible enough for successful IoT Integration.
- Processing Power: The platform must have the ability to deal with the crucial information provided by IoT sensors along with the already processed data. As the load on the platform is expected to increase owing to greater speed of functioning, the platform needs to be capable of withstanding the pressure and still functioning ceaselessly.
- Data Security: Businesses need end-to-end safeguarding for supporting data-driven decisions and protection issues, especially during data transfers between different systems. As the internet is involved, the data is at a greater risk. Hence more complex and secure data safety softwares are needed to ensure no data is compromised.
- Integration to cope with Industry Demands: Depending on the industry flow and individual product and service offerings, the company must choose the most efficient IoT system for boosting ERP productivity.
Before integrating your ERP system with IoT, it is advisable to opt for expert advice of skilled software developers who have experience in developing ERP solutions for small businesses. This will not only help you to plan the most efficient integration strategy for your business but also get long-term success and gain the real benefit of IoT in the efficiency of ERP.