Manufacturing enterprises, pharma companies and food processing brands have specific ERP requirements. It is just about identifying the best software.
There’s absolutely no doubt that enterprise resource planning software are in great demand today. Industry analysts at Allied Market Research are predicting growth rates more than 25 percent for the next six years. As per the research carried out on the ERP software market, corporate growth is believed to be the key driving factor for the adoption of this software amongst senior management. Important elements such as need for efficient customer services, improved distribution system and lower operation costs are also persuading the top management to deploy the solutions. Majority of top managers have the same view when it comes to gaining a competitive edge.
Factors Influencing the Popularity of ERP Software Market
There a various reason that has increased the popularity of ERP software market. The software backs business growth requisitions via advanced product lines. Apart from this it serves business needs through new customers and global requisitions such as multiple currencies and foreign languages. Features including flexibility, improved responsiveness and real -time decision making assistance across business verticals has also kept the future of this sector robust. The key takeaway here is that the software eliminates many limitations posed by the legacy systems. These mainly include fragmentation of process, lack of flexibility and insupportable technologies. Moreover, this software makes the most of the untapped mid-size organization.
ERP Software Market Capabilities for Business Verticals
Introduction of cGMP compliant software, by companies like eresource the sector now has a highly regulated solution for pharmaceutical industry. The software helps pharma companies to manage their business more efficiently. Besides this, use of this software in the manufacturing segment has now put to rest challenges posed by customer requirements, compliance mandates and supplier management among others.
Apart from this the modules integrated in the chemical industry helps business owners manage their data flow. From managing different formulas to production and shipping orders that meet regulatory requirements the software addresses major pitfalls. Furthermore, it manages both excise as well as outsourcing process with greater efficiency.
Demand for companies offering “ERP on Demand” has also increased over the past five years. Owing to its capabilities such as affordability as well as ability to eliminate upfront capital expense has eliminated the requirement for in-house information technology resources. It has further eliminated the need for additional infrastructure. Here, customers are expected to pay per module on a monthly basis.
Allied Market Research’s independent titled “World ERP SOFTWARE Market - Opportunities and Forecasts, 2013 – 2020” present statistics derived from recent implications. This enables business owners to identify the market share and size, demand, trends, growth and adoption rate among others. As per the study the sectors will garner $ 41.69 in sales by 2020.