Exploring The Functionalities of Metaverse Ready Cloud ERP
Posted By : Priyansha Singh | 19-Aug-2022
Metaverse-Ready Cloud ERP
Enterprises are dreaming big –irrespective of their size, industry, and potential – all thanks to the emergence of intuitive metaverse solutions. However, in order to take metaverse innovations to the mainstream, businesses are looking for a new approach to digital infrastructure.
The inception of the metaverse goes back decades but the buzz around it has never been soaring than today. In this reference, Facebook got the ball rolling when it announced its rebranding as ‘Meta’, prominently signaling it will base the company’s future on the foundations of the metaverse.
Since the metaverse is tomorrow’s technology, it can not be realized to its full potential using yesterday’s IT infrastructure. So to break the shackles of traditional approaches to IT and materialize the true promise of the metaverse, enterprises will be inevitably required to replace their modernized, secure, and distributed digital infrastructure.
The pace at which the IT infrastructure has advanced in the past two decades leaves no doubt that businesses will be ready to handle the comprehensive workload – but it comes to enterprise resource planning and custom enterprise management software, not all systems that are currently operational will be ready to monetize the opportunities.
So, how can ERP systems evolve to handle it all and adapt to the swiftly changing metaverse ecosystems? In this blog, we will be talking about the fundamentals and functionalities of ERP software systems that are metaverse-ready.
What is the role of Cloud ERP in the metaverse?
Cloud ERP systems can prove to be the commercial backbone of an organization. It enables them to foray into the metaverse – if they have the scalability and flexibility to embrace and evolve along with the metaverse itself. They can incessantly succeed where legacy on-premises services either entirely block the path or necessitate expensive extensions as well as integration projects to inculcate core and vital functionalities.
Here, we have listed some of the pressing capabilities that metaverse-ready ERP systems will have to include in the subsequent projects:
- Performance and scalability: The metaverse represents a scale that essentially a small number of organizations worldwide can achieve at the present time. Any ERP software development solution would have to be capable of handling colossal transaction values in real-time, without undergoing any possible delay or lag.
- Flexibility: A monolithic ERP system that is updated on a yearly cadence will not suffice for the accelerated changes and digital transformation that the metaverse will bring along. Therefore, it is crucial that organizations must be open to innovate without stressing that their financial systems will not be able to keep up. Any related solution will need the ability to inculcate new capabilities swiftly as the requirement arises. In addition to this, the early stages are likely to witness a great deal of M&A activities. The best and most preferred ERP systems will be those that can seamlessly connect with and amalgamate disparate systems as smoothly as easily as possible.
- NFTs and digital assets in the metaverse: It has now become exceedingly transparent and discernable that NFTs, as well as related blockchain technologies, will become ubiquitous in the metaverse. Therefore, any ERP system that is capable of supporting commerce should also be capable of supporting these next-gen technologies.
- Subscription support: For recurring revenue, subscriptions furnish huge opportunities, but they also create distinct administrative challenges. We recommend that your ERP management system should be well-equipped with intuitive technologies and should be able to manage subscription-based billing at scale without facing any errors or difficulties. Moreover, it should also account for the revenue recognition guidelines that relate and apply to the recurring revenue.
- Security: In general, greater scalability and complexity mean greater risk. The privacy and security of a comprehensive ERP management system will be of foremost concern and importance, especially when it comes to creating and maintaining trust with potential customers with an unfamiliar or emerging technology.
All in all, the metaverse may be virtual, however, the colossal business opportunities that it furnishes are very much real. Enterprises of all shapes and sizes need a highly scalable and flexible ERP backbone to fuel groundbreaking innovations as they stake their claim and concrete dominance in the latest technological frontier.
The power of technology and people
When technology meets human ingenuity, deployment is one of the most classic instances that can happen as an end result. This is not about embracing and adapting to any new technology and expecting a magic transformation. Rather the entire process is extremely streamlined and collaborative.
In terms of metaverse-ready cloud ERP solutions, it is critical to look at the entire business processes and workflows first and make sure that they are optimized, enhanced, and upgraded in accordance with the foundational aspect of the transformation.
The result is a truly empowered workforce, an engaged user base, and improved business operations. Apart from the metaverse and ERP, cloud technologies also ensure that your stack is current and consistently updated. Not just that, implementing additional solutions is much simpler and straightforward, not to mention when utilizing cloud services, the possibilities of add-ons and tech integrations are unlimited.
Looking For Custom ERP Services That Are Metaverse-Ready?
At Oodles Technologies, we provide custom metaverse-ready ERP software development services to startups and enterprises, helping them to scale their business workflows and achieve more. As an established ERP development company, we fulfill various productivity and efficiency requirements and enable businesses to perform better. Our team also implements intuitive metaverse and cloud computing solutions in ERP systems, ensuring that all software development demands are rightfully met. Our ERP experts build and furnish custom solutions that offer mobility and flexibility to scale up existing ERP management applications and allow on-the-go access. If you are looking for robust ERP software development solutions that are equipped with next-gen metaverse and cloud computing capabilities, feel free to drop us a line. Our professionals will get back to you within 24 hours.