LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global ERP software market and the market is poised to experience spend growth of more than USD 20 billion between 2019-2024 at a CAGR of over 9% during the forecast period. Request Free Sample Pages.
Read the 123-page research report with TOC and LOE on "The Global ERP Software Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
BFSI, IT, manufacturing, and automotive sectors are facing a pressing requirement of implementing ERP software to address the growing complexities in their procurement departments. These complexities are arising due to the generation of a huge number of invoices that is a result of the organizations’ partnerships with multiple suppliers. This requirement is driving the spend momentum in the global ERP software market.
The ERP software market in North America is witnessing a large-scale adoption of cloud-based and social ERP solutions owing to the availability of a sound cloud infrastructure and the required expertise. The growth of end-user industries such as retail, BFSI, and telecom in APAC is favoring the demand of ERP software to handle information systems.
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The Top ERP Software Suppliers Enlisted in this Report:
Innovations and technological strides are the constant requirements for ERP software suppliers to survive and compete in the market. Such pressing requirements are resulting in substantial increases in their technology expenses which are propelling their OPEX. To compensate for this, they will increase their service charge which will have an inflationary impact on the overall price structure in the global ERP software market. However, strategic cost-control initiatives, price forecasting techniques, and adequate technology adoption will aid ERP software suppliers to sustain their profit margins. Such service providers will have the liberty to offer service to buyers at competitive rates without hurting their profit margins. On this note, this report has listed the top ERP software suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market. Insights into some of the suppliers’ portfolio are given below:
SAP SE- It is known to engage in horizontal integration strategies by acquiring and collaborating with other regional and global suppliers to get access to the latest technologies, improve capabilities, and expand its service portfolio. Last year, SAP acquired Qualtrics International, a leading supplier of experience management software that enables organizations to deliver exceptional customer, brand, and product experiences.
Microsoft- Upgrading the existing systems for large buyers with multiple operating facilities is expensive and this increases their implementation costs. In addition, installing the required data security framework into buyers’ existing systems is tedious and often increases their complexities. Engaging with Microsoft that specializes in cloud-based ERP solutions will enable buyers to minimize their procurement costs as cloud-based ERP solutions can run through a web browser to ensure data security and do not require upgrading.
SYSPRO Proprietary Ltd- The ERP software market is dynamic as new solutions are being launched in the market by suppliers on a regular basis. Purchasing new solutions can be expensive for buyers and migrating from an existing platform to a new solution is challenging and increases buyers' cost. These challenges make it imperative for buyers to negotiate contract renewals alongside new purchases or upgrades with this supplier who can aid the former to reduce up to 5% of the cost on new purchases or upgrades.
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Some of the key topics covered in this report are:
- ERP software market spend segmentation by region
- ERP software supply market analysis
- Regional spend opportunity for ERP software suppliers
- ERP software suppliers cost structure
- Total cost of ownership analysis in the ERP software market
- ERP software pricing models analysis
- Category management objectives
- Cost saving opportunities in the ERP software market
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