When we talk about ERP, we are talking about an essential term in the business world. It doesn't matter what industry or sector, as it has become indispensable for many businesses. And it will become even more so. Why? Because of its multiple functionalities in any type of company, even more so in an environment that is already fully digital. In terms of electronic invoicing, in particular, the role of this acronym is fundamental and has been for some time. But what developments can we expect to see in ERP systems this year and in the medium term? That is what we will discuss in this article.
Origins of ERP and its evolution to date
The acronym ERP stands for Enterprise Resource Planning and is now a very familiar concept for many companies in various sectors. Mainly for technology companies and organizations with a certain volume of business, these three letters have been part of their daily routine for years. The reason is that it has become the ideal ally in this new digital era. As an example, 65% of Spanish technology companies were already using an ERP system in 2022, according to the consulting firm Devaim.
An ERP system is a digital business management tool that integrates and automates business processes on a single platform. Here we explain what an ERP is in greater detail. However, the purpose of this article is to understand its origin and development in order to understand the functionalities they offer today and how they will evolve.
The origins of ERP systems date back to the 1960s. At that time, companies began to realize the need to integrate their information systems to improve efficiency and resource management. At that time, computer systems were fragmented, and each department had its own management system.
Since then, the evolution of ERP systems has been marked by several milestones:
- The 1960s and 1970s. During this period, the first enterprise resource planning systems emerged, although they were not called ERP. These focused primarily on inventory management and production planning.
- The 1980s. More comprehensive business management systems were consolidated. These covered areas such as accounting, human resources, and inventory management. Without going any further, SAP's first ERP system saw the light of day in this decade.
- 1990s. ERP systems became increasingly popular and became a standard tool for many companies. The integration of the Internet and related technologies began to have a notable impact on the management and use of ERP systems.
- 2000s. At this point, the functionality of ERP systems expanded to cover areas such as CRM (Customer Relationship Management) and SCM (Supply Chain Management). In addition, the trend toward cloud-based ERP began to gain traction.
- 2010s to present. ERP systems have continued to evolve to adapt to changes in technology and business needs. As such, they are increasingly geared toward mobility, artificial intelligence, advanced data analysis, and integration with other emerging technologies.
Currently, ERP systems are essential for the efficient management of companies, from small businesses to large corporations. However, their evolution is expected to continue in the future as technology advances and companies seek ways to further optimize their operations.
Functions and features of current ERPs
Right now, the ERP software market is extremely diverse. Multiple brands compete to design the best system. Likewise, the existing alternatives are very comprehensive and offer multiple functionalities to differentiate themselves and stand out in today's competitive environment.
Specifically, the functions of current ERP systems are used to manage virtually all areas of a business, as we will now show you.
Financial management
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- General accounting.
- Fixed asset management.
- Management of accounts payable and receivable.
- Budgeting and financial planning.
- Tax management.
- Bank reconciliation.
Human resources management
- Payroll administration.
- Personnel management.
- Talent management and recruitment.
- Employee training and development.
- Performance management.
- Labor regulatory compliance.
Inventory and warehouse management
- Inventory control.
- Warehouse management.
- Supply chain optimization.
- Asset tracking.
- Automatic replenishment.
- Order and purchase management.
Supply chain management or SCM
- Demand and production planning.
- Supplier management.
- Tracking shipments and logistics.
- Contract management.
- Transportation management.
Sales management and CRM
- Tracking sales opportunities.
- Marketing automation.
- Campaign management.
- Contract and sales management.
- Activity tracking and sales analysis.
Business Intelligence and data analysis
- Analytical accounting with real-time reports and analysis.
- Customizable dashboards and panels.
- Predictive analytics.
- Blockchain and data mining.
Integration and compatibility
- Integration with other business systems.
- Compatibility with industry standards.
- APIs for custom integration.
- Support for different platforms and devices.
Security and regulatory compliance
- Access control and role management.
- Auditing and monitoring of changes.
- Regulatory compliance in specific sectors (e.g., financial, health, or data privacy regulations).
Depending on the model you choose, you will enjoy different features. However, these are the most common ones you will find in virtually any modern ERP system.
The best ERPs for 2024 in Spain and worldwide
Taking these features into account and based on our experience at easyap working with different models, this is our top 5 best ERPs for 2024, both in Spain and internationally:
1. SAP S/4HANA
SAP is one of the leading providers in the ERP market. S/4HANA is its flagship solution, offering advanced features such as real-time analysis, process automation, and various artificial intelligence capabilities. For all these reasons, it is already widely used in companies of all sizes and in a variety of industries.
2. Oracle ERP Cloud
Oracle offers you a complete suite of cloud applications for your business management, including finance, human resources, supply chain, and more. Its ERP Cloud is highly scalable and designed to adapt to the changing needs of your business.
3. Microsoft Dynamics 365
Dynamics 365 is the ERP and CRM solution marketed by Microsoft. It offers you deep integration with other Microsoft productivity tools, such as Office 365 and Power BI. It is known worldwide for its flexibility and ability to adapt to different industries and company sizes.
4. NetSuite
NetSuite, owned by Oracle, is a cloud-based ERP designed specifically for growing businesses and medium-sized organizations. It also offers a wide range of features, including accounting, CRM, inventory management, and much more on an integrated platform.
5. Sage X3
Finally, Sage is a highly recognized business software provider, and Sage X3 is its scalable ERP solution. This model is suitable for both small and large companies. It also gives you the possibility to enjoy features such as financial management, inventory management, and supply chain management.
When choosing, you must carefully assess your needs. Consider the size of your company, your industry, your available budget, and the capabilities of each option. All of the above are examples of ERP systems that will work wonders in 2024, but the best one for you will be the one that best suits your business and your circumstances.
What does easyap have to do with an ERP system?
In addition, before purchasing an ERP system, it is useful to consult with experts such as easyap, as we have extensive experience working with them. In fact, we design specific solutions that integrate with all types of ERP systems. In this way, we automate and streamline the invoice and payment management process.
The easyap platform complements the functionalities of these ERP systems. It provides you with an efficient way to manage your incoming invoices and your accounts payable process. Specifically, the most typical features of our solution are:
- Integration with ERP. Directly connect the billing program with your ERP to automatically transfer invoice data to the appropriate modules.
- Data capture. Automatically scan and extract key information from your incoming invoices, such as dates, amounts, and more.
- Automated workflow. Route invoices for approval according to predefined rules and the organizational hierarchy you set.
- Monitoring and auditing. Record all your invoice-related operations and activities in detail for auditing and regulatory compliance purposes.
- Reports and analysis. Generate reports on accounts payable process performance and provide other key metrics related to invoice management.
In short, easyap integrates with any ERP system to improve efficiency and accuracy in invoice and payment control. In other words, it optimizes your financial processes. All you have to do is contact us so we can explain much more: other benefits and more features, terms, prices... We look forward to hearing from you.
