ERP industry is changing fast as the market is changing at faster rate, ERP software need to provide industry specific solution at more economical prices so that companies in small and medium sector can afford it and are attracted to avail them. Presently ERP industry appears to be focusing on SaaS models to provide economical services for small and medium sized companies all over the world.
Apart from costing, some other changes may be evident very soon like providing functionality and data with the pre-populated ERP software, this change will be focused primarily to attract SMEs as these industries in this sector does not have abundant resources to avail such services. Such an option will save valuable time and money of the purchaser and in many cases ERP software will be able to provide benefit of its option completely and quickly as the time spent in gathering the relevant data before serving out solutions to industry specific issues gets saved.
Market pundits predict or rather have analyzed that there will be a three time larger market for ERP software in SMB category by the next year. CRM application or software industry has also seen an unexpected growth largely due to SMB market and SaaS or ERP on demand model. Initially SaaS model was not supported by ERP industry giants like SAP and Oracle and was seen as threat to their on premise installations but now all the vendors are keen and have been pushed into providing on demand solutions if they want to target small and medium sized industries.
Another big change in the thought process of ERP industry giants and also old and new users from large and SME will guide future ERP market and also industry. This change is that ERP developers may seize to try and provide one single solution or application which may have sufficient depth and functionality to amply service all the departments. Integration has been the biggest advantage of ERP so far but insufficient features which are incapable to provide solutions for every single activity or process of all the important departments of a large organization has made ERP software working very complicated and complex and yet insufficient.
This might get changed as companies now focus on providing a well integrated set of applications interacting with each other and having one common data repository. This change will again bring in more affordable on premise ERP solutions which may not need as bulky IT infrastructure, complex implementation process and specialized IT skills for running and maintaining the software.
Till today ERP software has been very popular in some industries but still there are few industries which have not been very keen in using this due to lack of industry specific solutions in the software. Manufacturing, insurance, hospitality, software and financial companies have been the biggest beneficiaries and benefactors of the ERP software. As ERP market gets more and more competitive other industries will be targeted by the vendors and will come up with more customized product for untouched or less explored industries.