ERP (or Enterprise Resource Planning) is a software used for managing business processes. The software enables a company to access a system of highly integrated application, which manages not only the business but also automates certain back office activities. This software facilitates the integration of resources, business function, supplier, and customer of the organization. The assemblage of utilities and features in an enterprises resource planning system can generally be categorized into front office functions and back office functions. An ERP software supports almost all business system that maintains crucial data for different business functions such as customer relationship managements, manufacturing, human resources, financials, supply chain management, and projects in a single database.
Furthermore, integrated system architecture is a major component of the system as the integration enables an enterprise to access the same system across different demographics.
Based on the type of deployment, the enterprise resource planning segment is further categorized into on-premise deployment and cloud deployment.
Some of the most impressive functions or modules offered by the system includes supply chain, finance, human resource, and others.
The business verticals served by the enterprise resource planning systems majorly consist of manufacturing and services, BFSI, healthcare, retail, government utilities, aerospace & defense, telecom, and others.
The end user segment of ERP software market is classified into large, medium, and small enterprises.
Adoption rate of enterprise resource planning software is high in North America and Europe. In these regions, the application is no longer about financials. Asia-Pacific region is the most lucrative market in terms of growth and is expected to garner nearly $13.2 billion in sales by 2025. Although in LAMEA, the demand for on-premise enterprise resource planning is growing in the region swiftly.
Some prominent vendors including SAP, Microsoft, and Oracle are launching products that are easily accessible via smartphones or other mobile devices. These major market players are putting great efforts to develop software that can be delivered from third-party vendor’s platform. The market is increasingly witnessing a shift towards Software-as-a-Service (SaaS) model.
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Sage Group Plc.
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