In today’s world of Artificial Intelligence (“AI”), Machine Learning (“ML”), Software as a Service, and technology applications (“tech apps”), there are numerous resisters for the need for Enterprise Resource Planning systems (“ERP”).
Questions arise about the applicability of ERPs, in today’s technology landscape.
People ask if they are keeping up with QuickBooks Online “QBOs” and Xero’s numerous plug-and-play tech apps.
They ask if ERPs will be replaced with AI and ML options. Or, if they are modernizing fast enough with AI and ML.
There are questions about the applicability of “Enterprise” all-in-one systems when there are so many user-friendly “best in class” software that operations or sales favour, such as Salesforce.
These are just some of the barriers we hear about, and we want to address them head-on.
The ERP market is experiencing growth. We will explore how tech apps do not meet the needs of businesses with complex growth. And how our partners at Acumatica and NetSuite are staying on top of AI and the latest automation. We will show you how growing businesses need to plan for an ERP, even in today’s ever-changing technological landscape.
ERP Market Data
The ERP market is indeed growing, with specific numbers indicating a positive trend:
– Market Size: The global ERP software market was valued at $50.57 billion in 2021 and is expected to reach $123.41 billion by 2030, with a compound annual growth rate of 10.7% from 2022 to 2030.
– Startups: While exact numbers of startups using ERP systems are not readily available, it’s known that a significant portion of startups, especially those experiencing rapid growth and complexity, are adopting ERP solutions to streamline their operations.
– IPOs: In 2020, 1,415* companies had IPOs worldwide. While not all these companies may be on an ERP system, it’s common for companies preparing for an IPO to implement ERP systems to ensure robust financial reporting and business process management.
– Forbes 100: A study has shown that about 90 percent* of Fortune 500 companies use an enterprise resource planning system.
These figures underscore the increasing reliance on ERP systems across various stages of business growth and the expanding market for ERP solutions.
The trend toward digital transformation, the need for integrated business processes, and the demand for data-driven decision-making drive the adoption of ERP systems globally.
Those who plan to stay off ERPs are going to be left behind.
Those that hold off will face more complex implementations and, therefore, more expensive than if they had invested in their strategy and foundation earlier.
Where Does AmplifyTech’s Emerging ERPs Land?
Why Acumatica?
Acumatica has been recognized for leading the ERP market in customer and analyst ratings, outperforming other vendors in critical metrics like quality, performance, and usability. The company has also been commended for its usability and functionality, further solidifying its position as an industry leader.
Acumatica, the only ERP born in this century, was founded by business technology experts with ERP in their DNA. Since its inception in 2008, Acumatica has made three bold bets to revolutionize the ERP landscape:
- Focused on SMBs: Acumatica is dedicated to addressing the unique needs of small and midsized businesses, building capabilities, and driving innovations that help organizations scale and grow.
- Channel Model: By relying on partners with specialized expertise for sales and deployment, Acumatica frees up resources to continually invest in product development, ensuring the ERP stays ahead of market demands.
- Cloud-Native: As a pioneer of ‘modern ERP’, Acumatica was born in the cloud, disrupting the market to meet today’s challenges with a future-ready solution.
Acumatica’s commitment to innovation and partner collaboration makes it the ideal ERP solution for businesses looking to thrive in the modern era.
Why NetSuite?
NetSuite continues to be a strong contender in the ERP market, especially for businesses aiming for substantial growth or those operating globally. Its comprehensive range of features and deep industry expertise provide a solid foundation for companies seeking to leverage ERP for strategic advantages.
- Scale with Ease: Gain the agility, flexibility, and scalability your business needs to drive innovation and growth.
- Immediate Value Delivery: Our pre-configured solution includes a unique set of processes, activities, and systems designed to deliver immediate value.
Key Features:
- Industry Expertise: Over 3,000 hours of industry-leading best practices already built into the system.
- Pre-defined Roles: Jump-start your business activation with pre-configured roles.
- Tailored KPIs: Dedicated process flows and KPIs customized for your business.
- True Cloud ERP: Experience the benefits of the first true cloud ERP.
Leverage NetSuite‘s comprehensive and integrated solution to enhance your business operations, ensuring efficiency, scalability, and growth.
Questions about the need for ERPs in today’s ever-changing market and options are worth discussing.
We are going to tackle them in detail. Here’s our discussions:
- Dinosaurs of Tech – Is That Where ERPs Are Heading?
- Xero and QBO Users Shocked: The ERP Features They’re Missing Out On!
https://amplifytech.ca/are-erps-keeping-up-with-qbo-xero-and-tech-stacks/ - Compliance Chaos: Do Xero and QBO Stand Up to ERPs?
https://amplifytech.ca/compliance-chaos-how-xero-and-qbo-stand-up-to-erps/ - ERPs in Crisis? Shocking Revelations About AI Takeover!
https://amplifytech.ca/erps-in-crisis-shocking-revelations-about-ai-takeover/ - Data Disasters: How Poor Management Can Derail AI Dreams!
https://amplifytech.ca/data-disasters-how-poor-management-can-derail-ai-dreams/ - From Cloud to AI: How NetSuite and Acumatica Are Pioneering the Next Tech Wave!
https://amplifytech.ca/from-cloud-to-ai-how-netsuite-and-acumatica-are-pioneering-the-next-tech-wave/ - Salesforce and “Best-in-Class”: Are They Killing the All-in-One Enterprise Dream?
https://amplifytech.ca/salesforce-and-best-in-class-are-they-killing-the-all-in-one-enterprise-dream/
Sources:
- Acumatica Leads ERP Market in Latest Customer and Analyst Ratings
- NetSuite vs Acumatica: The Ultimate ERP Guide for Businesses
- ERP Growth Creates Exciting Opportunities for Tech Consultants
- Why Businesses Are Switching From NetSuite to Acumatica
- ERP Market Share, Size, and Trends Report for 2023
- ERP Software Market Size, Share & Growth Report, 2030
- Number of IPOs in the U.S
