The global market and trends of ERP software
Enterprise resource planning (ERP) software is a tool used by companies all around the globe. The diversity of features and resourcefulness of ERP software is proven to the world. Over time, the global market of ERP software is evolving and expanding. Every day, tens of businesses are moving towards ERP implementation.
The global ERP market was $39 billion as of 2019 and is expected to grow by $86 billion by 2027.
The observers of the ERP software market, say that the market will be in the rapid expansion phase, the market size is expected to be $49 billion by 2025. All these stats show that the ERP software market is appreciated and accepted by enterprises around the globe.
ERP software implementation:
For businesses, ERP software implementation is a matter of concern. The market stats show that ERP software implementation is getting efficient over time.
Only 12% of respondents experienced poor quality of implementation process. Moreover, ERP software providers are working to make this process efficient and easy for companies.
A report published in 2020 shows that 93% of businesses describe their ERP software as a success. Businesses consider ERP software as a resourceful tool for their organizational management.
The global market ERP software :
As discussed above, the ERP software market is a booming market. Organizations are diluting their activities with new technologies and advancements, ERP software is one of those technological advancements business wants to embrace.
The massive growth potential is attracting new investors. New ERP software providers are introducing their products. With the increase in the size of the ERP software market, competition in the industry is increasing day by day, which brings efficiency and advancements in products.
A report shows that around 50% of the businesses are planning to use an ERP system. With a compound annual growth rate (CAGR) of around 9% between 2020 and 2027, this industry is on a ride to the moon.
The market trends of ERP software:
With new investors and ERP software providers getting into the ERP software market, new and improved versions of the ERP software are offered.
Trends in the ERP software market are based on business demand and featured resources.
Following are some trends in the ERP software market:
- Cloud-based ERP software
- Customized ERP solutions
- Advance integration
Cloud-based ERP software:
ERP software was first developed on on-premises systems. Enterprises can access them through the systems installed on their premises. Companies face difficulties in using ERP systems because of their immobility.
Today, businesses demand cloud-based ERP software or Saas ERP. This advanced version of ERP software can be easily accessed remotely. It has cloud-based databases, which increases the security and functionality of ERP software and the company’s data.
Moreover, updates are also easy to install on cloud-based ERP software. This trend in the ERP software market is followed by ERP software providers around the globe.
CISERP is a cloud-based ERP software in Pakistan. Offer fast implementation and featureful resources.
Customized ERP solutions:
Every business has its own needs. The resources and tools required to run and manage a business are different for every industry and business type. Because of that reason, how can the ERP software be identically the same for every business?
Although the basic organizational management like:
- Human resource management
- Custom relationship management
- Financial resource management
Are the same for every business but there are other modules, which are required as per the demand of the business.
These modules include:
- Supply chain management
- Procurement and logistics management
- Scheduling and appointment management
Above are some additional integrations that businesses ask for from their ERP software provider.
Businesses are growing and exploring new ventures & opportunities. Because of the rapid expansion of business space, the need for advanced integrations in ERP software is necessary.
ERP software providers around the globe are developing frameworks for ERP software that can easily integrate advanced integrations.
Some ERP software providers are specializing in different integrations. Other than that plugins or separate integrations are offered by some ERP software developers.
CISERP offers ERP software with advanced integrations. To have CISERP as your ERP software Now.