New AI Regulations, Top ERP Systems for 2024, Panel Discussion Among Leading ERP Vendors
Nov 22, 2023
auto_awesome
Guests from leading ERP vendors discuss new AI regulations, top ERP systems for 2024, and the balance between off-the-shelf and customization. They explore the impact of AI regulations, vendor competition, cloud services, AI integration, and future trends in ERP systems. The panel also shares insights on digital transformation, vendor relationships, and strategies for successful ERP implementations.
SAP targeting mid-market signals a strategic shift for broader customer base.
NetSuite expanding into upper mid-market aims to compete with SAP.
ERP vendors moving towards platform-focused solutions for customization and integration.
Cloud ERP solutions offer scalability but raise concerns over ongoing costs.
AI integration in ERP enhances user experience and automation for efficiency.
Future systems emphasize interoperability for seamless data flow and connectivity.
Deep dives
SAP Moves Downmarket with the Announcement of Grow: The Industry's Response
With SAP's move to target the mid-market with platforms like Grow, it signals a significant shift in their strategy to capture a new customer base. This move is a response to the changing demands and preferences of customers in the market, signaling a shift in focus towards more streamlined and tailored solutions for the mid-market segment. While the success of this strategy remains to be seen, it is a bold move that could disrupt the industry dynamics.
NetSuite's Expansion Upscale and Competition with SAP
NetSuite's expansion into the more complex upper mid-market space signifies a shift towards capturing a broader range of customers beyond their traditional small business base. As NetSuite moves upmarket, they may start competing more directly with established players like SAP, creating a new dynamic in the ERP market. By targeting larger and more diverse customers, NetSuite aims to solidify its position and offer more comprehensive solutions.
The Rise of Platform-Oriented ERP Solutions: A Shift Towards Composable ERP
A key trend emerging in the ERP space is the rise of platform-focused solutions that embrace the concept of composable ERP. Vendors are moving towards building platforms that allow for greater customization and integration with third-party apps, enabling a more tailored and flexible approach to ERP implementation. By evolving into platform-oriented offerings, vendors aim to simplify and enhance the ERP experience for customers across industries.
Navigating the Cloud Hype: Real Value vs Revenue Generation for ERP Vendors
The growing emphasis on cloud ERP solutions raises questions around the actual value they offer to customers versus the revenue generation potential for ERP vendors. While cloud platforms provide scalability, responsiveness, and reduced customization, they also present challenges in terms of ongoing costs and vendor lock-in. Customers must carefully evaluate the benefits and risks of adopting cloud solutions, balancing the promise of agility with the potential drawbacks of long-term financial commitments.
Evolution of Emerging Technologies in ERP Solutions
The panel discussed the impact of emerging technologies like AI and how they are seamlessly integrating into ERP solutions to enhance user experience and drive efficiency. They highlighted the importance of AI in providing insights and automating tasks to free up users' time for more strategic activities. The focus is on making technology consumption easier and more intuitive for users.
Implementing Emerging Technologies
When implementing emerging technologies like AI, the key considerations include automating repetitive tasks, providing data-driven insights to users, and ensuring a user-friendly and productive interface. The discussion emphasized the importance of enabling users to perform their roles efficiently and intuitively without requiring extensive training on the technology.
Customer-Centric Business Strategy Evolution
The evolution towards a more customer-centric business strategy involves moving from implementation-focused approaches to activation and consumption-centric models. The emphasis is on delivering a frictionless journey to value, where functionalities are activated easily, enabling users to swiftly realize the benefits of the software without complex configurations.
Interoperability and Digital Enterprise Operations
Interoperability plays a crucial role in the future of systems, as software vendors aim to promote seamless data flow and connectivity across multiple systems. The panel discussed the importance of APIs, access to data, and security in driving digital transformation initiatives. They highlighted the need for software to play well with others, support best-of-breed solutions, and enhance the overall user experience.
Activation and Integration Services for Interoperability
Enhancing interoperability involves providing integration services, open APIs, and data streaming technologies for seamless data flow between systems. The focus is on enabling easy and efficient data exchange, deploying integration platforms as a service, and ensuring secure connectivity across various applications. The panel underscored the significance of creating a good digital citizen culture to facilitate connectivity and drive innovation.
Facilitating a Frictionless Value Journey
Facilitating a frictionless journey to value includes leveraging open API integration platforms and streamlining data access to drive business transformation effectively. The discussion emphasized the role of APIs, secure data access, and seamless system integration in enhancing user experiences and unlocking operational efficiencies for organizations.
Enhancing Integration Capabilities for Seamless Data Flow
Improving integration capabilities involves fostering a good digital citizen culture, promoting connectivity between systems, and ensuring secure and efficient data exchange. The panel highlighted the importance of open APIs, data accessibility, and security measures for driving digital transformation initiatives and accelerating value realization for businesses.
Efficient Implementation Strategies
Implementations can be shortened by focusing on delivering the most impactful value quickly, known as 'land and expand.' Prioritizing value, phasing approaches, and aligning with industry best practices can streamline implementation and drive quick wins.
Data Quality Challenges and Timelines
Addressing data quality issues is crucial before setting implementation timelines. The impact of poor data quality can affect project timelines and outcomes significantly, highlighting the importance of data collection readiness before committing to project schedules.
Vendor Partnership and Continuous Value
Maintaining an ongoing partnership with vendors ensures continuous value realization. Regular interactions, such as value exchange workshops, facilitate discussions on business outcomes, challenges, and future roadmap alignment, supporting a collaborative approach to optimization and value creation.
The Transformation Ground Control podcast covers a number of topics important to digital and business transformation. This episode covers the following topics and interviews:
New AI Regulations, Q&A (Kyler Cheatham, Third Stage Consulting)
Top ERP Systems for 2024 (Adam Cheatham, Third Stage Consulting)
ERP Vendor Panel Discussion (Soma Somasundaram, Infor; Paul Farrell, Oracle NetSuite; Kerrie Jordan, Epicor; Kevin Miller, IFS)
We also cover a number of other relevant topics related to digital and business transformation throughout the show.
This weekly podcast series premiers live on YouTube every Wednesday at 8am New York/1pm London/9pm Hong Kong. You can also subscribe to the podcast on Apple, Google, Spotify, Pandora, or your favorite podcast platform.
Register here👇 to be notified regarding new podcast episodes every Wednesday:
