April 18, 2018
WELLESLEY, Mass., April 18, 2018–Growing demand for cloud-based deployments among small and medium-sized businesses, plus the use of real time data control for better decision making, are helping to drive the global enterprise resource planning technologies market forward, according to a report by BCC Research.
The industry is expected to see a compound annual growth rate (CAGR) of 7.5% through 2022, when it could be worth $55.7 billion, according to the report Enterprise Resource Planning Technologies: Global Markets to 2022.
Enterprise solutions can enhance the overall operations within industries ranging from accounting to finance management, supplying chain and business analytics.
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“If there anything organizations care about, it is money,” the report noted. “Investors, partners and stakeholders are always concerned about the flow of cash into the company. From purchase to delivery, every phase has its own calculation of profit and cost. The accounting and finance management ERP module is the solution that helps gather and generate financial data in ledgers, consolidated balance sheets, quarterly financial reports, forecasted financial models and other account-related insights.”
High Cost and Complexity Seen as a Potential Market Restraint
The high cost of initial investment and the difficulty of implementing on premise systems is seen as a potential factor restraining growth, the market notes. On-premise systems in may require a data center, server room, storage and networking components, as well as an in-house IT team to maintain it all. Meanwhile, a lack of awareness is hindering growth in underdeveloped nations such as in Africa and Latin America, where advanced IT infrastructure and network readiness are lingering issues.
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Enterprise Resource Planning (ERP) Technologies: Global Markets to 2022( IFT158A )
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