Emerging Trends and Game-Changing Innovations: A Recap of the ERP Industry in 2023
As 2023 nears its end, it's time to look back and highlight the most significant developments in the ERP industry. Zillancer brings you an industry round-up of the biggest news and launches that have shaped the ERP landscape this year. From AI-powered sales revolution to groundbreaking innovations, here are some highlights from 2023.
1. Salesforce's AI-Powered Sales Revolution
Salesforce made significant strides in 2023 with AI and data innovations in Sales Cloud. Einstein Copilot is a new, generative-AI powered conversational assistant built into the user experience of every Salesforce application. This assistant is customizable to any organization's specific business needs. This matters because employees can ask the assistant questions about almost anything related to the business, and it will assist them 24/7. This means no more waiting for people to get back to you with product information or legal parameters etc.
2. Microsoft's Copilot and Dynamics 365 Innovations
Microsoft leads innovation with Copilot and demand planning for Dynamics 365 Supply Chain Management. Copilot boosts productivity and collaboration in supply chain teams, while the Siemens Industrial Copilot enhances collaboration between humans and machines in manufacturing. Features like adaptive UI, command prediction, and trustworthy AI assistance provided by Copilot simplifies the learning curve for new engineers. This not only lowers the barriers to entry for new engineers, but also accelerates the adaptation of advanced technologies. For businesses, this means a more efficient onboarding process for new talent and a more user-friendly interface for existing teams.
3. Epicor's Strategic Move in FP&A Solutions
Epicor acquires DSPanel, a global provider of cloud-based Financial planning & Analysis (FP&A) solutions, expanding its financial management portfolio. The acquisition includes Performance Canvas, now Epicor Financial Planner, integrating with Epicor Industry ERP Cloud for a unified solution. With AI and ML capabilities, Epicor Financial Planner automates complex tasks, reducing errors and saving time in critical financial processes such as period-end closings, multi-site consolidations, and financial report management. This automation not only improves accuracy but also frees up resources for more strategic financial initiatives.
4. SAP Partners with Mercedes-AMG PETRONAS F1 Team
SAP has partnered with the Mercedes-AMG PETRONAS F1 Team starting in 2024. This collaboration will utilize SAP S/4HANA Cloud, the private edition, as the technology foundation for the team. By integrating AI and cloud solutions, the partnership aims to optimize resources and future-proof their IT infrastructure, enabling informed decision-making. This partnership highlights the potential of ERP solutions to enhance performance in high-performance industries.
5. Epicor's Groundbreaking Analytics Solutions for Automotive Industry
Epicor announced two industry-first analytics solutions, Predictive Inventory Assistant (PIA) and Predictive Maintenance Assistant (PMA). Leveraging data from over 1 billion part transactions and 140 million repair events annually, Epicor's analytics solutions offer real-time predictive insights. For vehicle service/repair businesses, this translates to informed decision-making at critical points, enhancing efficiency in writing estimates, guiding vehicle inspections, and deploying timely repair reminders.
6. SAP & Qualtrics: Continued Partnership Post-Acquisition
SAP announced on June 28th, 2023, that Silver Lake Management, the global leader in technology investing, and its co-investors along with the Canada Pension Plan Investment Board (CPPIB), have completed the acquisition of all the issued and outstanding shares of Qualtrics, including all shares owned by SAP, at a purchase price of US$18.15 in cash per share. SAP will remain a close go-to-market and technology partner to Qualtrics, servicing joint customers and continuing to contribute to their success.
Peering into 2024: What Lies Ahead?
As we approach 2024, pivotal trends are reshaping the ERP landscape:
· ERP vendors are focusing on artificial intelligence and machine learning.
· Demand for cloud-based ERP is growing.
· ERP vendors are partnering with other software vendors to create integrated solutions.
· ERP vendors are focusing on vertical industries such as healthcare, manufacturing and retail.
· The rise of the Internet of Things (IoT) allows ERP vendors to collect and analyze data from connected devices.
· Adoption of blockchain technology is accelerating for more secure and transparent ERP systems.
· The ERP industry is consolidating with larger vendors acquiring smaller ones, this could mean reduced competition which can either positively or negatively impact pricing and innovation.
Explore these trends and position your business for success. Connect with Zillancer today to guide you through the transformative ERP landscape, ensuring your business thrives in the evolving future.
References
Salesforce Launches AI Innovations and New App
Microsoft launches new Copilot capabilities to enhance brand operations
Siemens and Microsoft partner on industrial copilots - here's why it matters
Epicor Acquires Cloud-Based Financial Planning and Analysis Provider DSPanel
ERP news from the week beginning 20th November 2023
