ERP software is unmistakably one of the most useful platforms that a company can invest in. However, it is important to note that there are many factors that can make your ERP implementation succeed or fail. One of these is having a clear picture of the industry and trends that are shaping and influencing ERP software as technology, business and product, all of which impact on how you maximize ERP for greater efficiency.
Don’t worry, you need not read scores of studies or articles. To help you out, we have gathered 39 key ERP statistics that are important for you in 2019. From general ERP charts to research on emerging ERP tech, this compilation should give you a better idea of what’s new in enterprise resource planning and how other companies are utilizing these tools for their operations.
The global ERP market has grown significantly over the years, and it does not appear to be stopping any time soon. This can be attributed to the growing number of businesses that are discovering the versatility of this platform. In recent years, ERP systems have expanded to cover a wide range of business processes that go beyond manufacturing. With this said, companies from various industries will be able to make use of these tools.
Proper software implementation can spell the difference between the success and failure of an ERP system. This is why it is crucial for you to not only know how to roll out your ERP platform but also be prepared for any challenges that you might encounter along the way. Here, we have compiled a few statistics covering the benefits of implementing these tools, what other users are looking for in these systems, as well as how they are using these solutions for their company.
To improve business performance%
To reinforce company growth%
To reduce working capital%
To improve customer service%
To simplify workload%
Source: 2018 Panorama Consulting SolutionsDesigned by
With the rise of SaaS, ERP programs have become more affordable, easier to implement, and simpler to maintain. This makes it simpler for small businesses to get their share of the benefits that these tools have to offer. In fact, there is now a whole bunch of solutions catering to this segment, as reflected by these 12 best ERP software for small business.
Cloud-based software has gained traction over the years because of the operational efficiencies that it has to offer. Whether you are looking to centralize your business process information or simply want to simplify your IT infrastructure, cloud ERP systems are certainly game changers in the industry.
Source: 2018 Panorama Consulting SolutionsDesigned by
ERP software solutions have reached a level of maturity that made developers more hard-pressed to find room for further improvement. So much so, that in the past few years, the only significant change to ERP systems is the increase in cloud adoption and the integration of early-stage technologies like AI.
While ERP systems have become more sophisticated over the years, they are still not without shortcomings. From kinks in implementation to difficulties in maintenance, there are still reports of some potential problems you might encounter while using these software solutions.
of the time, budgets go over because of modifcations for usability. Companies realized this late.
(approximately half) of ERP implementations fail the first time
more time is spent on implementation than expected
Source: Technology Evaluation CentersDesigned by
In recent years, these ERP platforms have gradually expanded to accommodate not only large enterprises but also small businesses. This paves the way for more scalable and easy-to-implement solutions that don’t require technical expertise. But of course, this is not to say that ERP systems are becoming more simplistic in the coming years.
On the contrary, with the fourth industrial revolution in full throttle, ERP platforms have increasingly incorporated new technologies as part of their system. After all, cloud computing, artificial intelligence, and the Internet of Things can open up new opportunities not just for the users but for software providers as well.
The question now is what do these data have to do with you and your business? For starters, a PwC study reveals that remaining innovative is a major factor for business success. So, the first step you can take is to keep abreast about current trends in the industry. By doing so you can remain one step ahead of the competition despite any changes in the industry.
If you still don’t have an ERP system, you can get a better idea of what ERP can do if you check out our guide to what is ERP software. Or, if you’re looking for one, this is a good starting point to speed up your research: 20 best ERP software tools of 2019.
The numbers don’t lie: ERP platforms are indispensable tools in the modern business landscape. They offer a number of advantages in terms of centralizing business processes as well as lowering operational costs not just for large enterprises but for small businesses as well. Furthermore, these tools are continually evolving to keep up with cutting-edge developments such as cloud computing, AI, and IoT so you don’t have to worry about getting left behind in the new industrial era.
However, like with any other type of technology, ERP systems come with its own setbacks. This is why you must put in extra effort to learn more about these potential problems and figure out how you can address them or prevent them from affecting your business.
If you don’t already have an ERP software at your disposal or are looking to replace the one you are currently using, a good lead is to compare these 3 top ERP software systems. This should give you a detailed rundown of the key ERP features and how they are packaged and priced on the market.
Enterprise Resource Planning (ERP) solutions have certainly come a long way. Starting out as simple inventory management systems for the manufacturing sector, they have now evolved into fully-integrated networks that consolidate multiple business processes.
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