2020 ERP Market Trends, Data and Analysis

By: | Category: ERP

An enterprise resource planning (ERP) system is the key to integrating different business functions across an organization. The widespread growth of ERP system adoption illustrates the importance of ERP to successful businesses.

Why have ERP systems gained such popularity? Because a shared database of information for employees and decision-makers is a direct path to peak levels of business performance.

ERP Market Statistics

ERP is a core system for businesses, driven by market characteristics such as widespread digital adoption, thriving global trade and vast amounts of data that need to be tracked, maintained and analyzed. ERP market statistics show the move towards increased usage and global demand.

ERP Implementation Statistics

To execute a successful ERP implementation, companies must have a clear vision of new system requirements to create alignment throughout the organization. Choosing the right vendor and assigning an internal implementation team increases the chance of project success.

Although ERP implementations can be challenging, data and statistics show many companies exceeding and even surpassing implementation efficiency expectations.

ERP ROI Statistics

Organizations use ERP to become more efficient and save costs. Statistics on ERP return on investment (ROI) highlight the benefits of the technology.

ERP Usage Statistics

ERP adoption by industry varies, and organizations often use ERP systems for different reasons. Recent ERP usage statistics provide some insight into current usage trends.

Cloud Technology Statistics

Adoption of cloud technology continues to increase worldwide as businesses move from on-premises technology to achieve business efficiencies, on-demand service, network elasticity and expanded network access. Statistics on the increase of cloud technology show the dramatic growth of cloud applications as they relate to the ERP market.

ERP Trends

As business needs become more complex, ERP software is advancing to meet the demand for more customizable features and broader social integrations. Current ERP trends illustrate a shift towards greater cloud adoption and intelligent systems that streamline and automate processes.

  • By 2022, Gartner predicts that artificial intelligence (AI) will be integrated into ERP systems by 65% of CIOs.
  • 53% of UK CIO’sare looking for more intelligent ERP systems that include technology like machine learning, AI and automation.
  • CIO’s listed predictive analytics and deep learningas the most critical ERP technologies to gain a competitive advantage.
  • Fifteen percent of organizationsplan to increase their Internet of Things (IoT) budget.
  • A broader move to more personalization across ERP systems leads 82% of UK CIO’sto choose ERP systems with some customization or use UI overlays.

ERP Challenges

Common ERP challenges include poor project management, inability to manage implementation costs and duration, internal resistance to new systems, software integration issues and poor data quality. These problems stem from unclear ERP implementation goals, choosing the wrong ERP vendor and purchasing software that’s not right for your company.

An ERP system can supercharge your business, but you must choose the right platform and implementation team to avoid becoming another unfortunate ERP statistic.

How to Succeed with ERP/Choosing the Right ERP Partner

The best ERP partners will offer a suite of services that cover enterprise basics like accounting and human resources—but they also offer applications spanning CRM (customer relationship management), human capital management (HCM), product lifecycle management (PLM), supply chain management (SCM), warehouse management systems (WMS), and more.

Cloud-native ERP systems with advanced technologies suit forward-thinking organizations who want access to ERP benefits such as increased efficiencies, cost savings and quick deployment times. Cloud deployment has opened the door for fast-growing organizations of all sizes, making ERP software available for big and small companies.

Article Attribution: This article was originally posted on the on NetSuite.com and was written by Justin Biel | Trends Editor, Grow Wire.