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Massive Technological Improvements to the Global ERP Software Market Will Be Seen by 2020

Allied Market Research recently conducted a study on the Enterprise Resource Planning ((ERP) software market for the forecast period 2013-2020. According to results, the market will reach at $41.69 billion by 2020 registering a compound annual growth rate (CAGR) of 7.2%.

The market owes it massive spurt in revenue to sectors such as healthcare, manufacturing services, banking, financial services and insurance (BFSI), aerospace and defense, and telecom. The report gives a comprehensive analysis key market segments, top winning segments, lucrative investment pockets.

Medical and healthcare centers spend huge amounts of money on critical medicines and machines in order to ensure the best care to patients. Trying to track their supply chain management (SCM) of thousands of medicines can be an absolute nightmare, and unfortunately, many hospitals are still stick on outdated methods.

To combat this, Oracle, a leading enterprise computer technology vendor, brought about new cloud applications such as:

  • Oracle Supply Chain Management (SCM) Cloud
  • Oracle Customer Care Experience Cloud (CX) Suite
  • Oracle Enterprise Resource Planning (ERP) Cloud
  • Oracle Human Capital Management(HCM) Cloud

The SCM cloud offers end-to-end visibility, insights, operation planning, demand management, supply planning and collaboration, and a host of other services that are comprehensive yet upgraded to hasten complex processes.

Retail and manufacturing sectors also need to look at resolving complex manually-daunting processes. They deal with bulk orders daily, sometimes individually or in collaboration. The Oracle ERP Cloud facilitates organizations and business by reducing IT complexities. The ERP cloud service includes financial, procurements, project portfolio management, and comes with a feature called Dynamic Discounting and Multi-Funding.

The research done on ERP software by Allied Market Research will give extensive insights on the global players, their strategies and financial hold. The qualitative and quantitative examination will enable key players to formulate crucial plans and strategies that will help boost the overall business.

Read the full report here.

Looking for more information about ERP systems? Download our free buyers guide, where you can find the top ERP software vendors, snippets about their highest ranking ERP solutions and products, plus the top 10 questions and tips to ask yourself and software vendor before purchasing!

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