Hot New Technologies to Watch – and How They May Impact ERP

ERP (enterprise resource planning) continues to evolve and grow. Sage ERP offers many features, and new technologies on the horizon may someday be included among the features in your business’ ERP system.

Sage launched its first chatbot, “Peggy”, in 2016.  Peggy could respond to simple questions like “How many parts are left in stock?” and “How much does Company XYZ owe us this month?” The concept behind Peggy is to create a smart assistant, a voice-activated computerized assistant similar to Amazon’s Alexa and other artificial intelligence systems that can respond to simple commands.

Since Peg entered the world of Sage, she’s been joined by other innovations. She’s just one of many technologies to watch in the coming year.

Tech Takes a Giant Leap Forward: Areas to Watch

To stay competitive, Sage keeps a close eye on the world of technology, not just the tech they need for their own products, but other ideas too. You never know where the next great idea will come from. This list reflects Sage’s ideas about new technology to watch, but you may have your own to add to it.

If you think this list is far-fetched for your business, think again. Ten years ago, no one could have predicted the ubiquity of smartphones, tablets, even watch-sized gadgets that track your fitness and alert you to incoming emails. We live in a time of rapid technological advancement and change. New ideas today could become commonplace tomorrow.

  1. Chatbots and autonomous interfaces. Most of us have used a chatbot without realizing it. Companies deploy them as part of their helpdesks. Those customer service agents named Richard, Gina, Kevin, and Sam may be nothing more than a chatbot routing your questions through a sophisticated set of logic rules to arrive at a suggestion. The same may be available for our business software someday, routing queries to the right part of the system with ease.
  2. Artificial & collective intelligence. Data collection through the internet of things has made it imperative that systems be able to handle large volumes of data individually and collectively. Such big batches of data require computing power to glean insights from them. Systems must also be able to look across data streams to find commonalities and draw conclusions.
  3. Blockchain technology: Perhaps nothing is more disruptive than blockchain technology. Originally used to create, mine, and trade digital currencies such as bitcoin, blockchain is poised to take off as a secure data transfer method with applications beyond the banking and finance world. Industries that act as an intermediary between two parties should watch the world of blockchain carefully. Companies are exploring its use and application in finance, banking, insurance, medicine, and many other sectors.
  4. Money transfers: New digital technologies have helped online-only banks open their virtual doors to customers. With lower overhead and infrastructure, they can afford to pay higher interest. Automatic bill pays, e-checks, and other forms of electronic money transfers are all new technologies that have changed how companies conduct business. One-click invoice payments may be on the horizon for many small businesses who currently can’t offer the same secure one-click payments as the bigger companies can offer.

Despite these changes, nothing can replace the human touch in the customer service interaction. Companies will still need people to handle unusual queries and “think outside the box” with questions that cannot be handled by artificial intelligence.

Still, it’s amazing to see where technology is headed. One hundred years ago, many offices didn’t even have the typewriter, and the photocopier had yet to be invented. The telephone was still seen as a revolutionary new device. Today we can share documents instantly on the same device we use for communications. Who knows what tomorrow will bring?

Enterprise Resource Planning and More from Emerald TC

Emerald TC understands how businesses use enterprise resource planning and how ERP can transform your business. New ideas are making the world of ERP exciting. Sage 100 ERP, Acumatica ERP, and additional cloud-based ERP systems offer enormous potential to transform your business for the better. Contact us today and we will help you choose great solutions for your business.

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