ERP tools provides a consolidated view of key business metrics from operations across the business and also aid organizations in decision making through real-time data analytics.Basically ERP software is a business management solution which enables the organizations to integrate all of their business operations which includes product planning and development, manufacturing processes, inventory control and distribution for optimal management. In larger enterprises, it becomes very difficult to maintain databases of all the departments as well as to consolidate them for report generation.
ERP tools help business overcome these problems by providing an integrated platform for all the processes, resulting in a quick and easy access to the information within each department and at the same time maintaining the uniqueness.
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Increased adoption of ERP solutions for better management is the major driver for this market. Other drivers are requirement of real time data analytics and the need of consistent data availability across the business for faster decision making.
Integrating several existing systems into one legacy system along with the difficulties faced in customization according to business needs are the major restraints faced by this market. Another constraint faced by the market is the cost incurred during implementation of the system across the business.
The market for Global Enterprise Resource Planning is primarily divided by four categories, they are
1) By Deployment
2) By Type
3) By Industry
Military & Defence
Transport & Logistics
Research and Education
4) By End Users
Currently North America is the highest revenue-generating region because of the large number of industries and companies based in USA. However, Asia-Pacific region would be the leading market by the forecast period. Ongoing development and entry of global level companies in this region would open-up numerous opportunities during the forecast period.
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There are a large number of companies that are involved in this market. Some of them are mentioned below
Epicor, Infor, IQMS, Microsoft, Netsuite, Oracle, SAP, Syspro, Concur, Cornerstone OnDemand, Kronos, Totvs, UNIT4, Ventyx, Workday Inc., Work Force Software
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