Global ERP for Modern Businesses
In 2014 , a research study was done by Epicor Software based on interviews conducted with more than 1,500 business professionals in 10 countries. In the study the users of a wide range of Global ERP solutions were surveyed . About 50% of the respondents worked in the manufacturing industry. One-third of them worked in distribution and logistics companies. The remaining 20 percent worked in service sector companies. Over 20 percent of them worked in organizations with up to 250 employees. About 40% of them were from organizations with more than 250 employees, but less than 1,000 employees. Around 40 % respondents worked in organizations with more than 1,000 employees.
The key findings of the study on global ERP usage were:
- The biggest driver for future ERP investments among those surveyed was the need for improved organizational responsiveness. Almost 30 percent felt that faster response times was the No. 1 desired outcome for ERP investments.
- Time to value or ROI is a key criteria that was taken into account in Nucleus Research’s first half 2014 Technology Value Matrix for ERP evaluation. To quote Rebecca Wettemann, VP-Research at Nucleus Research: Customers want predictable time to value and lower ongoing costs, making cloud solutions and those with limited customization requirements much more attractive. Deep industry functionality and usability investments are driving competitive advantage in the market.
- A key driver for future ERP investments cited by respondents was a desire for ERP to be user friendly. 35 percent of respondents complained that it took a lot of time to get the required information. 48 % of them wanted the ERP to make it easier to use . Less than 10% of respondents said that they felt that their current ERP was user friendly. Over 20 percent of them felt that using an ERP is a complex task even after familiarization. About 4 percent respondents said that it was so complex to use that they preferred to avoid using it if they could.
Global ERP platforms and the future
- Mobile devices are enabling businesses to put global ERP data and functionality in the hands of remote workers on the go and in real time. This makes companies more agile and responsive to both customers and partners. 65 percent of study respondents perceived mobility functionalities as critical. Only 1 in 2 have remote access to their global ERP system. Only 25 percent could access their ERP via their mobile device. Mobility integration topped the wish list of ERP functionality needs for users in the future. In the future, most users especially in the small business domain will ask for the functionality to access the ERP via their mobile devices.
- One of the most exciting ERP trends is the incorporation of social collaboration into workflows to connect internal and external stakeholders. Most respondents surveyed did recognize the value of enterprise social networking. They felt that their organizations are not able to leverage the full value of integration between social media and ERP. Only 10 percent of global respondents said they believe their ERP systems exploited social media to a satisfactory level. This space is still evolving as we speak with security solutions being integrated to support secure use without threats.
What is happening in the Global ERP space
Organizations in China demonstrate the greatest commitment to technology as a driver of corporate performance. Up to 90 percent of those surveyed in China revealed that they had made key investments in business systems improvement in the period 2012-2014. Compare this to the figure of only 60 percent of survey of global respondents. Chinese businesses led the way in adoption of mobile technology to support business activities. 80 percent of Chinese businesses surveyed had mobile ERP access to the ERP. The next highest mobile ERP access rate was 70 percent in UK businesses.
According to Forbes, Price Waterhouse Coopers(PwC) had predicted that by the end of 2016, investments in SaaS solutions will more than double. Investments in traditional on premise ERP systems were expected to decline by over 30%. 2015 data shows that net new license revenues for traditional on-premise ERP systems have been declining since 2013. They had already been surpassed by global revenues from cloud-based SaaS ERP solutions. PwC also said that enterprises prefer to opt for cloud based ERP applications that can scale across a maximum number of business functions.
IT expert Louis Columbus states in Forbes.com that 78% of small businesses in the US will adopt the cloud by 2020 which double the figures of 2015. As per frevvo.com, almost 60 % of US SMB’s using cloud solutions reported productivity benefits which is double the figure of SMB’s not using the cloud. 85% of cloud users were confident about security of data on the cloud. 82% of users reported significant savings after cloud adoption. IDC also reported that over 80% of mid size US companies with over 100 employees are also actively looking to use cloud solutions.
The impact of cloud computing on the global ERP space
Cloud computing has created a tremendous impact on the ERP market. Only 20 % of study respondents surveyed indicated a desire to continue to invest in on-premise solutions.
The cloud takes ERP to a whole new level with the ability to do business anytime, anywhere, and from any device with internet access. The data and solutions can be accessed through the internet via a web browser and are parked on secure servers in remote locations.
The cloud ERP is the new buzzword in ERP solutions due to its affordability, easy of use, high functionality and fast setup times.
VersAccounts is truly a Global ERP
We at VersAccounts have created a secure cloud based comprehensive ERP solution. The VersAccounts Small Business Cloud ERP system is accessible anytime, and on just about any smart mobile device.
With the VersAccounts ERP solution, you can have top of the line and comprehensive business functionality built into one solution to control all your business functions. You have the ability and access to customization options on the dashboard with inbuilt functional compatibility with other leading solutions.
We will help you to migrate your data seamlessly from your current ERP solution.
“Mobile, social, cloud and ERP- Is your business ready for what’s next” by Epicor