India is emerging as global and key player in ERP market, the rapidly growing economy has been largely due to many organizations performing efficiently in international markets and has earn a brand value and name for themselves. These organizations have given ERP the reputation of an effective tool in India, ERP was previously considered as critical buzzword, but now it is recognized as an essential tool to bring in core competence in organizational operations.
The features of ERP are vast and it has capability to immensely enhance organizational working and efficiency. Many Indian companies have outgrown national boundaries and have become international players which urged them to have their organizational infrastructure agile, flexible and vibrant to cope up with different requirements. ERP has helped such organizations in managing their internal working and lifting their working standard to the level where they can match up with any big and established player of the global market. Requirement to have global approach for reaching out customers in any country, suppliers, professionals and to have working locations at different corners of the world for convenient functioning was made possible largely due to ERP. This has set a trend in Indian industry, medium size organizations with a vision are now opting ERP more readily, this has given ERP industry a very favorable ground to grow.
The growth of IT industry has helped and is helping in growing ERP market in India. ERP software were there to be purchased even before but software of such magnitude cannot run smoothly and ERP companies cannot provide their best services unless and until they get basic infrastructure, support and professionals at local level. Today in India internet is available at almost every corner of the country, IT professionals are skilled and updated and market provides sufficient growth prospects which has allowed big ERP companies to establish their offices in India and market their product aggressively. This approach of ERP companies has boosted the confidence of local organizations to migrate from their slow and obsolete systems to latest, flexible and fast technology and avail its benefits.
India has second largest trained and skilled work force in the world which has allowed many service based industries to flourish in the country which are raring to move towards international market. These organizations are small in size but their scope of work and their profits has been as good as any medium sized company. Service based industry has immense scope for ERP as ERP has specific features to enhance and automate processes of such companies and also give them knowledge of standard processes and latest working ways to launch themselves at international platform.
SaaS and hosted ERP models has made Indian ERP market even more vibrant as these models are in reach of some small but flourishing companies. Software companies operating as development centers for many US, UK, Canada and Europe based companies and clients are also eyeing ERP available in such models. Banking, Insurance, Infrastructure and Distribution and wholesale are other industries which can give huge business and growth prospects to ERP market in India.