ERP Solutions

ERP Software Solutions

Enterprise Resource Planning (ERP) software is what allows businesses to automate their financial accounting, supply chain, manufacturing, and other critical functions. Those businesses that implement ERP software solutions are able to capture, process, and report on business transactions in the way that makes the best sense.

Most companies know that enterprise resource planning will benefit the way they do business.  However not every company knows how to evaluate the plethora of products on the market in order to choose the one that best fits their needs nor when to upgrade ERP software solutions. This is due, in part, because companies are not up to date with the latest features of ERP software and shifting market trends. It is this confusion and lack of knowledge that prevents companies from initiating an ERP project.

Recently, Forrester Research studied ERP software solution expenditures across industries.  Their findings show that budgets for ERP are shrinking and spending worldwide is set to drop this year. This finding comes at a time when ERP vendors are reporting increased profit in 2010.

Notwithstanding the availability of new options in ERP software solutions, customers are hesitant to upgrade to new systems, even though the newer solutions are more flexible and able to better predict the long-term costs of ownership. Almost seventy-five percent of companies presently using ERP software solutions reported they do not foresee upgrading or making additional investments to their present ERP systems within the near future. What these numbers reveal is a thirty percent drop from the number of businesses that chose to upgrade in 2010.

Surprisingly, the research firm Gartner just released findings that suggest the ERP software solutions market is about to explode.  According to their report, software solution revenue will pass the two-hundred and fifty billion dollar mark this year.

So, which research is right? Industry leader Microsoft, which is known to use their IT development and design teams to nurture customer satisfaction, clearly believes the Gartner people are correct because they have announced plans to release a new version of their ERP Software solutions, Dynamics AX ERP sometime in the spring. This version encompasses four new technologies, according to the Microsoft people who also stated they already have customers preparing their business operations in order to be ready to integrate the new AX. The Corporation also made known that February 1 is when the new Dynamics AX for retail will be ready for purchase in more than fifty countries.

Written by :

tracey boxer