New releases of ERP and accounting software used to be a game of wait-and-see-what-new-features-are-in-this-release. Usually, there were major things like bank reconciliation or lot numbers that customers needed. Today, most software has these business requirement features; even QuickBooks is catching up with the required feature list.
So what’s next? Once the software provides most of the features needed to run a business, what then?
New ERP Software Developments
The current generation of accounting software is increasingly adding features that allow even the smallest businesses to analyze and work with the ERP data that is collected. These tools answer questions like: What is selling now? Has there been a change from last month? Last quarter? Last year? Where are our most profitable customers coming from?
These features have been around for a while, but the cost has come down dramatically and some publishers are building them into their base ERP products.
What’s Next for ERP Software?
If I had to guess, I’d guess that the next couple of years our customers will be increasingly concerned with (a) how to use the data they have, and (b) how to collect more customer data to increase sales and profitability.
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