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How Favourable is ERP Market?

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Sujith Vasudevan, Managing Editor

Over the last 20 months, the business realm has witnessed more digital transformation than the entire previous decade. The evolution of Enterprise resource planning (ERP) solutions has been one of the major driving factors. ERP solutions today have matured and extended their capability to support almost every business function ­ at scale, ranging from back-end departments like accounting, HR, procurement, and manufacturing to front office

functions like sales force & marketing automation.

Let alone enterprises, even the MSMEs and startups find it easier to bank on ERP due to data-driven technologies and the dire competition prevailing in the segment. The traits like scalability and affordability help them cut costs by eliminating dispensable processes, automating mundane tasks, and providing employees actionable information that will help them make better decisions much faster than ever before.

The future looks bright as a day. With cloud being the new normal, digital transformation being inevitable for businesses across the spectrum, and the 5G network expected to bring the network latency down, it's the best time to be in the ERP software industry. The whales still run the show in the global market, including SAP, Oracle, Microsoft, Epicor, and Infor. According to markets and markets.com, the global cloud ERP market is expected to grow to $101.1 billion by 2025 at a CAGR of 17.4 percent. This can be interpreted as huge opportunities for autonomous and solution partners of any size. The key to success in both cases revolves around meticulously understanding the local businesses, knowing the latest technologies, and finding the right formula to build ERP solutions that solve challenges for customers and enhance their business outcomes.
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