The year 2020, yes one of the disastrous years of the world. Although the year has ended, the devastating situation of the pandemic is still prevailing all across the world. We were not prepared for this and there was no action plan and strategy. It all started suddenly and began spreading all across the world just by a fraction of days and weeks. Today no continent in the world is battling towards curing this deadly ours. During the last year, we did not have much to raise our glasses however, the business establishments had adapted to new methodologies of operations making them able to function in this era of new normal.
Most of the establishments have taken up the strategy of desperate times desperate measures since they need to survive in this and push through the days without affecting the companies with more burden and mortgage. Furthermore, more and more business establishments have been moving towards enterprise and resource planning solutions as they helped to run their business efficiently, through andy strategies, remotely, online, and even with smart and advanced tools of functioning. A stud on the ERP implementation conducted during the last year depicted that on the earlier day of the last year they were at the peak and it was reduced gradually due to the effect of the pandemic. Further, there has been a gradual increase in the second half of the last year and now its scale can be measured above a moderate average level.
As for the ERP implementation history reaching over the last 30+ years of existence in this world, it can be said that there will be numerous implementations to come in the upcoming years. There are various ERP solutions available today which are categorized based on various parameters such as the scale of operations, application-specific ones, open-source or non-open-source, cloud-based ones and on-premise hosted ones, and many more which you can choose from based on your company operational requirement. Odoo ERP is one of the ERP solutions that have been exhibiting imminent functionality traits to its uses in all aspects of business management.
This blog will provide an insight into the status trends of the ERP of the upcoming years to come and a description of ERP implementation statistics.
Some statistics into the future of ERPs.
Although it's not able to predict the future or go forward in time and obtain one million possibilities of the outcome as done by Doctor Strange in the Infinity War. However, Stephen stage did and deduced the possibilities based on the calculated guess and analysis here in the case of the ERP and its future the same can be done. Moreover, an insight into the historical data will provide a clear picture of what to expect in the ERP business of the future. From the initial analysis of the data, it's pretty clear that the future of ERP solutions and their uses seems brighter and will be beneficial in the long run. Here is some statistical insight into the ERP business:
- A study on the ERP uses across the globe depicted that 23% of them are willing to upgrade their ERP solution to the latest one and meet the trends in the business environment.
13% of them depicted that the will be changing their ERP partner to the tier 1 service providers (indicating the best in the business)
- The application software's global revenue is to reach more than 300 million USD by 2023. Of which ERP solutions are a part of.
- By 2022 the global ERP market is to rise to 47 billion USD in revenue
- During the last year, the ERP solution starting the medium and small scale installations were grown by more than 7% which is expected to be doubled up in the upcoming years.
- The aerospace and defense industries are about to have more than 8% of ERP software implementation growth rate
- The Asia pacific ERP market is to give above 9 billion USD in recent years.
- Additionally, the cloud-based ERP solution is to reach more than 400 billion USD in the coming years.
These are some of the basic statistics level data available considering the future of ERP solutions. Now let's move on to creating aspects that will improve the uses in the ERP solutions as well as the functionality of it.
ERP Implementation Statistics.
The ERP solutions are advanced operating systems that will improve the business operations of the company and make the functioning to be done at a higher level. The ERP implementation will provide advanced business operations and company functioning to run with high efficiency and reliability. Here are some of the implementation of statistics concerning ERP implementation:
- ERP enhances the current business by more than 64%
- Provides an overall company growth of more than 55%
- A reduction in the current working capacity by more than 50%
- The ERP implementation has an operational improving rate of more than 90% in all the successful ERP implementations.
- Although the ERP implementation budget may vary in almost 30% of successful ones, however, the users have depicted that they are acceptable and more than satisfied with the operations.
These are some of the aspects with will provide quantitative insight into the ERP implementation aspects in a company.
Today, considering the applicability as well as the operational capabilities of an ERP in a company, the Odoo ERP tops the charts with its cost-effective, user-friendly, and reliable aspects of company operations. The Odoo ERP is one of the advanced and effective new generation ERP solutions loaded with features and capable tools to run your business on your terms as well as strategies of management. Moreover, the complement management solution Odoo can only be customized and well developed by an Expert developer having abundant experience in the field.
Cybrosys Technologies offers Odoo implementation services at a steady rate along with reliable solutions. Consult us by dropping a mail to info@cybrosys.com to enquire about your queries and to avail of our Odoo related services.