Erp – facts, statistics, and trends in 2017

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The content on the following slides are excerpts from the article
http://bit.ly/erp-trends-facts-statistics-2017-18
( ERP – Facts, Statistics, and Trends in 2017 )
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ERP – Facts, Statistics, and Trends in 2017
With a change in technology and market, there is a corresponding change in
Enterprise Resource Planning (ERP). After a careful observation of ERP and
software industry, this article covers all the latest trends, stats, and facts
revolving around ERP in 2017, so let’s begin.

ERP Facts
ERP for All: ERP today is designed to help small to medium size companies
to grow and expand.
ERP can take over most of the organization works: Present days ERP
systems are so advanced that they can take care of almost all processes.
Cloud-based ERP solutions are more flexible: Selecting cloud-based ERP
can provide small, growing companies with affordable access to world-
class tools, even if they don’t have the internal infrastructure for a better
ERP implementation.
continued….

Cloud-based ERP is more secure: Almost 94% businesses believe their
security is better due to cloud services, including ERP. Moreover, for many
small organizations, the cloud is the only possible way to meet compliance
requirements such as Health Insurance Portability and Accountability Act
(HIPAA).
Cloud-based ERP requires little Investment: The cloud offers unique
flexibility in terms of small business investments, particularly to small IT
teams. Studies have also shown that most of the 22% of the companies that
go for cloud-based ERP solutions appreciate cost savings as a result.
ERP is not helpful to senior management only: One of the important benefits
of ERP system is automation of business processes and functions across all
levels throughout the company – it is helpful to senior management along
with other employees while benefiting the entire company.

ERP Stats
According to Panorma’s Report on ERP Systems and Enterprise Software:
• 81% of organizations are either in the process of implementing ERP
software or have completed implementation.
• 14% of organizations are in the process of selecting software.
• 5% are in the process of upgrading software.
• 16% -The most common reason for implementing ERP was to replace old
ERP or legacy systems.
continued….

Reasons for Implementing ERP:
• 49% - to replace out-of-date ERP software
• 16% - to replace home grown systems
• 15% - to replace accounting software
• 20% - to replace non-ERP systems / had no true system
• 35% reported implementation costs of 1- to 3-percent of their organization’s
annual revenue
• 20% reported implementation costs of 3- to 5-percent of their organization’s
annual revenue.
• On average, organizations spend 6.5-percent of their annual revenue on their
ERP project

ERP Trends in 2017
Rise in Cloud ERP Solutions: As compared to traditional ERP, contemporary
ERP systems are more comprehensive and cover all functions of enterprise
and not just specific to back-office processes. Cloud-based ERP has a
more modular setup. Several enterprises are even licensing software as
they would for an on-premises use and running it in a public /private
cloud.
One of the most important benefits of Cloud ERP is the lack of
infrastructure required to run them, no software/hardware is required, and
they are scalable for growth – you pay for what you use, so your return on
investment is faster. To stay updated in such a highly competitive
marketplace, traditional ERP providers are looking for ways to switch to
cloud products- either by integrating cloud products with their ERP
systems or developing their own cloud-based specialized solutions.
continued….

Internet of Things (IoT): As IoT is described as ‘The third wave of Internet’, it
has plenty of potential for application in the ERP Industry too. IoT connects
devices such as everyday consumer objects & industrial equipment onto the
network, allowing information gathering and management of these devices
through software. This results in opportunities for increased efficiency and
introduction of new services along with other benefits.
As more and more devices and products become connected to the internet,
more data can be funnelled into the ERP system. As a result, manufacturers
will be able to keep track of each and every product, advise the customer
and provide additional services. ERP will be able to connect data, processes,
and people, paving the way for new business models and glean important
insights from massive amounts of data.
continued….

Integrating Social Media: With a tremendous increase in social media users
globally, there is a need for social Media functionality within ERP systems.
As most ERP systems contain sales and business functions, many staff are
already using it indirectly in conjunction with applications.
Microsoft offers Social Engagement App that allows companies to track
multiple social media platforms, obtain data and push further engagement.
Different forms of social media, such as discussion forums and instant
messaging, have long been a part of certain ERP systems. Moreover, the
purchase of LinkedIn by Microsoft will also contribute in enhancing the
performance via ERP systems.
It seems inevitable that ERP would move towards integrating most of the
social media platforms.
continued….

Better ERP Security: With an increase in cyber attack, more strictness in
regulations and an increasingly connected corporate ecosystem, a great
emphasis on security is required by ERP vendors.
Cloud ERP solutions offer top-notch data protection with sophisticated
security features and committed ERP solution providers. Company access to
central admin panels and 24/7 support from ERP solution providers allow
any issue to be resolved quicker than with traditional ERP solutions.
Multi-layered security and predictive deterrence, based on entity behavior
analytics are set to become the norm in the coming years.

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Erp – facts, statistics, and trends in 2017

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