It’s always an interesting exercise to take a look at what’s ahead for the next year within our organisations. We’ve taken this opportunity to collate some facts, figures and predicted trends from industry and business experts and reflect on how they might impact the way we work in 2015 and beyond.
- By 2015, the BRIC (Brazil, Russia, India and China) economies’ share of global GDP will be 17%, nearly double what it was in 2000.
- China will surpass the US to become the world’s biggest economy by 2018, when measured by purchasing power parity.
- Companies from the emerging world are increasingly becoming major players in global markets—the BRICs now account for 75 of the Fortune 500, compared with just 29 in 2005.
- Consumers in advanced economies can no longer rely on credit to fund their spending, and are likely to be hit by higher taxes. As a result, consumers have become more value-conscious when they shop, according to 80% of executives surveyed.
- Consumers are more informed than ever before. Technology has provided customers with a wealth of data that allows them to compare prices, research products and connect with others to leverage their buying power.
- ABI research, for example, expects the global market for mobile commerce to reach $163bn by 2015.
Enabling employees to work remotely on a variety of devices will soon become the norm. Apart from the technological challenges of such measures, the biggest hurdles to overcome will be organisational and cultural change as well as putting in place governance frameworks that meet everyone’s needs.
Take your business into near-real-time.
Whilst speed has always been important in creating a competitive business, the expectations of customers is still on the rise. The connected customer will judge you on quality, experience as well as speed, and this trend shows no signs of slowing.
Organisations can no longer hide or fluff their way through the marketing sphere; the hyper connected customer means they have more access than ever before to industry information where they can research, compare and ask for community input. They will also share their good and bad experiences about your organisation online, so make sure what they’re saying is what you want them to!
According to Gartner, enterprises will need to reassess their current competencies and skills to effectively manage the increase of Big Data.
Investing in technology
Gartner claims that most enterprises and their trusted management vendors are not yet prepared for the change to Windows 8, and says enterprises will want to wait for more stability before proceeding. While Microsoft as a technology company can make these changes at a more advanced pace, the market will take time to mature, and most enterprises will sit on the sideline for now.
40 per cent of the Global 1000 organisations will use gamification as the primary mechanism to transform business operations. Gamification addresses engagement, transparency of work, and connecting employees’ actions to business outcomes. Gartner predicts that the worldwide market will grow from $242 million in 2012 to $2.8 billion in 2016, with enterprise gamification eclipsing consumer gamification in 2013.
Making it easier to implement and use an ERP
Simpler screens and a less complicated implementation process will be key for SAP vendors. Companies are ready to invest in technology to help them become more efficient but choosing the right system and partner can be challenging.
SMEs driving more choice
Hyper connected customers also mean that in the ERP space they expect to understand exactly how the system can benefit their organisation at all levels and this includes SMEs.
Mobile and cloud ERP product development
According to SAP experts, we’ll also be seeing more web, mobile and cloud functions to existing ERP products. This will deliver a greater return to businesses who are trying to maximize their efficiencies.
Internet of Things and analytics
Collating all your organizational assets will enable you to assess what’s needed and what isn’t moving forward. The Internet of Things (IoT) can help to transfer data into an ERP that can then provide valuable insights and analysis in real time. Throughout 2015, we will see more effective Big Data analytics tools to help companies make the best use of their organisational data.
Using data intelligently
Next year, and beyond, we will see companies not only gather more data in their Big Data plans but also make better use out of it through ERP workflow management automation. Their ERP will become not only a transactional tool but also an analytical one that can help to drive boardroom decisions in real time.