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ERP Trends to Watch in 2024

There’s no question that ERPs are a crucial part of integrating and centralizing resources, data, and operations across an organization. While still considered to be a back office tool, ERPs do power multiple front-end functions and most organizations would consider them an indispensable part of doing business. Several trends will characterize ERPs in 2024, trends that you might want to take a look at to ensure your ERP stays on the leading edge—and your business does, too.

It’s an exciting time in the ERP world: The global ERP market has grown 8% since 2022, according to research from HG Insights. In 2024, as many as 1.4 million companies are expected to spend $183 billion on ERP software. And that’s not because ERP software has stayed the same. Rather, it’s because the solution—perhaps previously seen as a stalwart, unchanging part of doing business—is leaning further into new developments and improvements. Read on and you’ll see that ERP trends for 2024 are shifting to meet the influence of new technology. Here are some to be on the lookout for as you plan your ERP journey this year. 

Moving ERP to the Cloud

Cloud-based ERPs continue to grow in popularity, fast out-pacing on-premises solutions. Why? Cloud is convenient and accessible, for one. In fact, many vendors are planning to discontinue support for older, on-premises solutions in the next few years. Not to mention, cloud-based ERPs offer greater scalability, flexibility, and compatibility. 

Cloud-based ERPs are also advantageous for smaller businesses looking to implement their first ERP because they also reduce the need for in-house IT. In 2024, expect to see SMBs increasingly adopting cloud for the majority of their applications, including ERP. 

The Push to Incorporate AI

AI has been a hot—and hotly debated—topic for the past year, but incorporating types of AI and machine learning into software isn’t new. So it comes as no surprise that AI integration is a likely ERP trend for 2024. The how? ERPs are integrating AI and machine learning for forecasting, predictive analytics, task automation, and even intelligent decision-making. AI can also enhance inventory management, demand, and supply planning, even personalize user experiences. Expect that a major ERP trend will be for developers to continue adding more AI functionalities. 

Renewed Focus on User Experience and Accessibility

One trend we definitely find exciting for 2024 is that users are no longer a secondary consideration in ERP design. Since user experience and accessibility is a major factor in ERP adoption, ERP developers are focusing on creating more user-friendly interfaces that are compatible with mobile apps as well. With mobile apps, organizations can build better control of business processes since users can create, access, and share data directly from their mobile devices rather than needing to be plugged into a computer. Expect ERP solutions to prioritize UX in 2024 so that users at all levels can better interact with and get value from their ERP. 

More and More Integrations

Integration continues to grow as an ERP trend for 2024. The biggest trend you can expect to see is integration with the Internet of Things (IoT). ERPs that are starting to integrate with IoT devices are capturing important data from the physical world, providing real-time asset monitoring, predictive maintenance, and even a more comprehensive view of supply chain operations. 

But it’s not just IoT integrations that improve the ability of an ERP to move into a new era of connectivity. Integration across platforms can help consolidate functionality to improve business overall. Predrag Jakovljevic, principal industry analyst at Technology Evaluation Centers, offers this thought: “An emerging concept suggests that while an ERP acts as the system of record, a connected workforce solution serves as the system of action. It’s expected that there will be integrations between connected workforce solutions, quality management systems, and manufacturing execution systems.” 

Organizations need more than just an ERP; thus, integration solutions help connect ERPs to other systems and platforms. While ERP integrations are not new for 2024, more and deeper integrations are a trend you should look for this year as businesses work to synchronize across different systems and create a unified ecosystem that helps them operate more efficiently and effectively. 

Stay Trendy with the Help of CloudExtend ERP Integrations

All these trends point to some pretty significant advancements in ERPs within the next 12 months. Businesses will have plenty of opportunities to enhance efficiency and stay competitive. Looking at these trends, it’s also easy to start seeing the shift in how companies are looking at ERP software and the capabilities it has to improve business processes and efficiency. 

And at CloudExtend, we’re proud to be on the leading edge of process improvements and efficiencies with our own NetSuite ERP integration solution. After all, we’ve been making innovation trendy for several years now, with a dedicated focus on improving business processes and driving efficiency. That’s why we build integrations between NetSuite and Excel that empower users to pull the right data for analysis through saved searches, work with it directly in Excel, and refresh it automatically or on demand—even upload data back into NetSuite via Excel, bypassing the CSV upload process for even more efficiency. (If you’ve ever had to run a CSV upload, you know what we’re talking about!) 

We built CloudExtend apps so you can be more efficient with your ERP data analytics, and more successful in your business. And if that makes us pretty trendy in 2024, we won’t argue with that. 

Want to get a jump on ERP trends this year? Integrate your NetSuite ERP with Excel for FREE for fourteen days. Give it a try now.