ERP Market Report Overview 2021

NEW YORK - Oct. 25, 2021 - PRLog -- Enterprise resource planning software is one of the most popular business tools. Since first appearing in the late 90s, they have gone through dozens of upgrades and improvements. ERP systems are still in demand, and bring more value for business than ever. So what actually happening in the ERP market? GBKSOFT, a top software development company, shares the most important insight on this topic.

The Market is Predicted to Evolve Further

ERPs won't lose their relevance in the next years; moreover, the market will only be growing and expanding. According to MarketWatch ERP 2021 research, the market is going to reach 63,600 million by 2027 with a 5.6% CAGR.

Custom-Developed ERPs

Ready-made solutions like SAP, Microsoft Dynamics or Oracle, are dominating the market. However, more and more companies choose to initiate custom enterprise resource planning system development. Custom ERP solutions grant more flexibility and are usually designed to accommodate the real needs and requirements of the company. In the end, custom ERP will be easier in implementation, and it won't demand additional efforts for its customization. It also will be much simpler to make any further improvements your company may need over time (e.g., you are growing and ERP should react accordingly to these changes).

Integration with Other Technologies

ERP is a global application that connects your whole company in one system. But with the help of advanced technologies, you can achieve more, for example, establish a high level of automation or generate precise insights into your processes.

Internet of Things and artificial intelligence are the most popular technologies to integrate with ERP systems. IoT may help to automatically track assets, goods, shipments, as well as monitor the state of equipment on the shop floor. AI may be implemented in the form of advanced analytics, which will provide you with predictions of demand levels, material needs, and even staff turnover.

Switch to Cloud Services

Cloud computing is the biggest trend right now, and it's also applicable for ERPs. More and more companies prefer cloud software for its agility and suitability for remote work. It also relieves companies from hardware pressure: there is no need to maintain cumbersome servers when there is a cost-efficient and convenient cloud option.

In Conclusion

ERP market prospers and develops. So, for companies, it is the question of finding suitable partner. We wish you luck in your journey with ERP!

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Tags:Erp, Enterprise, Enterprise Resource Planning, Overview
Industry:Information technology, Software, Computers
Location:New York City - New York - United States
Subject:Reports
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