Enterprise resource planning (ERP) has been around for decades, helping businesses and entities in various sectors manage their day-to-day operations. Over the years, as technology has been advancing, higher performing ERP systems and softwares have been developed, and with it came quantum technology which is touted for more deployment in 2024.
Quantum computing is a futuristic approach to calculation that uses the principles of fundamental physics to solve extremely complex problems faster than on classical computers.
With ERPs, Quantum technology delivers a user-centric, multilingual platform that can be accessed across mobile devices, simplifying how companies submit, track, approve and report on their core business areas. It increases visibility of end-to-end processes, improves data integration, and strengthens reporting and risk management capabilities. A cloud-based quantum solution comes with the flexibility to adapt and expand the platform to meet future organizational priorities.
The introduction of quantum computing led to a massive shift to cloud-based ERP applications, which not only enhanced the security of data housed in these systems, but also greatly reduced the initial investment required for implementation.
First, this year, quantum injection will transform ERP systems from merely operational use to a deeper analytical deployment. While the current applications are widely used to manage and maintain operations in entities, the quantum aspect will give the software more analytical capabilities.
Given that ERP systems already store large amounts of data, and crucial for that matter, having them analyze this data at a deeper level, with automation, will prove to be priceless. Businesses will be able to transform data into insights on the go, therefore reaping the benefits such as offering data driven products, overcoming production bottlenecks, addressing supply chain issues, making business decisions with greater accuracy, and edging competitors since with insights, they will be more knowledgeable of the market.
Secondly, while many ERP applications support only one default language, the quantum ERP supports multiple languages. This is not only making it the go-for solution, but also addressing the adoption challenge with ERPs. Regional demographics and more so language, has been a great challenge in the global ERP adoption, since most of these systems are developed in the world’s most popular languages such as English, discouraging their adoption in some regions.
By supporting multiple languages, the quantum ERP will enhance collaboration not only within an entity but also with others from outside, such as suppliers and business partners. For instance, a global or multinational conglomerate will easily collaborate with its subsidiaries across different regions with different languages. Also, this will enhance data sharing across systems.
Thirdly, with quantum ERP, comes greater and easy customization. One of the reasons for slow ERPs uptake is the difficulty in their customization, which means the system does not adequately address the very challenges it was sought to mitigate. The use of one size fits all applications leaves many businesses disappointed, and explains why many fail to maintain their software for long after implementation.
But thanks to quantum ERPs, this challenge is sorted as they are not only easy to customize but also to a greater extent. Businesses will therefore be able to tweak their system to satisfy their specific needs. For instance, companies with bulk storage and multi-size products will be able to adjust their ERP system to address these company-specific aspects.
The Quantum ERP is also offering enhanced visibility of both the internal and external environment. Internally, real time monitoring and control of processes ensures bottlenecks and disruptions are identified in a timely manner, giving room for early mitigation. Also, as data is organized, analyzed and stored in a centralized system, management can have a greater visibility of all departmental functions, ensuring company goals are being achieved.
Externally, with the systems enhanced analytics, the company can easily monitor its performance at the market, how its rivals are faring, get knowledgeable of emerging trends, thus keeping up-to-date.
While legacy ERP applications have been faced with the integration challenge, the new software has a higher integration capability, ensuring even the complex applications can be integrated. Previously, the challenge was that many of the software systems were developed with traditional approaches, making it difficult to integrate with modern technologies.
With more integrations, businesses will unify their integral systems and applications, avoid data duplication, and support collaboration. The integration is also simplified, saving more time and resources that can be committed elsewhere.
The quantum ERP is intelligent. It can send auto-generated messages and alerts in real time to effectively manage workflows. It is also upgrading predictive maintenance through intelligent equipment monitoring and diagnosis, thus preventing unplanned downtimes which could lead to costly disruptions.
This new development in the ERP sector is poised to accelerate the growth of Industry 4.0 by ensuring businesses have more control of both the internal and external environment, offer data driven products and services, enhance visibility and optimize processes and operations.
2024 is the year for the quantum leap. The technology is set to deliver a powerful, scalable, and robust functionality that touches on almost all the aspects of a business, in a cost-effective manner. It is simply ushering businesses into the future, the smart way of doing business this year.
Mr Wessels is the professional services manager at SYSPRO Africa.