Offering a better system for managing business applications and processes, Enterprise Resource planning solutions are helping business enterprises in climbing up the ladder of success. Although the results are mixed regarding the success of ERP implementations, respondents are satisfied. Came into action in 1990, according to Gartner there are three groups that enjoyed the benefits of ERP. Businesses have boosted their productivity, software vendors have earned plenty of money, but the consultancies that implemented and later customized ERP systems emerged as the real profit maker surpassing all.
Observing the popularity of Enterprise resource planning systems, everyone is keen to know about the future of ERP. Recently, an online survey was conducted by Panorama Consulting Solutions from September 2012 through January 2013 (which involved 172 respondents) to learn the breadth and depth of ERP solutions across concerning areas including the implementation cost, project duration and benefits. As per that, almost 53 percent of ERP projects exceeded their budget limit, 61 percent of projects crossed their planned time limit and 60 percent of projects got less than half of their targeted benefit. Also, when discussed about the ERP success and customer satisfaction, 10 percent of respondents voted against its success rate, and the status of customer-satisfaction also remained low.
Interestingly, the cloud ERP is trying to redeem that loss by offering more agile, responsive, pay-as-you-go, and always up IT network solution for real-time collaboration and informed decision making. According to IDC, an astounding 130% increase in cloud computing is expected by 2016. Mimecast, a company that offers Software as a Service solution has also predicted that 7 out of 10 companies using cloud services will move new applications to the cloud, gradually coming out of the myths pertaining to cloud ERP.
Let’s have a look on the following benefits of cloud based ERP systems:
Noticing this change that cloud technology has brought to ERP solutions, it can be said that future of ERP is being influenced by the consumerization of technology. Cloud-based ERP systems have become the prime requirement of businesses today and in order to manage different business processes like planning, development, human resource, order, delivery and finance, every business enterprise has to adopt this technology very soon.
Date: February 10, 2014