ERP market has grown and reached small industries. Some of the attractive trends of ERPs are that the companies are not ready to spend heavily on expensive packages instead companies are looking for low cost packages which does not take long time for implementation.
Latest Trends in ERP Market
Availability of many packages as per the need of the client: Today the companies can select from a number of vendors and get ERPs as per the requirements. Earlier the big companies such as Microsoft, SAP and Oracle did not provide cheap packages to suit the requirements of small and midsized companies but now a number of packages are available in market and even the leading companies are providing low cost solutions to meet the needs of small companies. The license fee has reduced by more than 50%, and the implementation cost and annual maintenance cost has also reduced.
Companies aim to provide solution on time: The ERP providers are now trying to reduce expenses by delivering the solution on time, although, the companies have not fully succeeded in reducing the average time of implementation but the expense on implementation has reduced.
Vendors are providing incentives to attract buyers: The new ERP does not need excess resources on implementation and the vendors are providing lucrative incentives to the buyers. Some of the incentives include providing additional training, reducing the annual maintenance cost and providing consultancy before implementation.
Easy negotiation: The new trends in the market include getting a number of provisions for negotiations. Earlier the companies did not get enough options for negotiation because designing an ERP solution takes in a lot of resources and newly designed solutions based on the developing technology required a team of technical and functional experts. The cost of maintenance of technical experts is very high.
Earlier the technology was not developed to provide a number of provisions with ease but now the hardware cost is reduced and a number of choices are available for technology. The improvement in the technology has reduced efforts and therefore, the companies can afford to reduce the cost of solution.
Module wise provisions: The companies can go for single module which can provide accurate solution. Generally, ERP implementation process could not come to a conclusion and goes on and on without ending, but companies do not want to spend resources on such unproductive processes and wish to get accurate solution which can be implemented in less time and can be used without much training. The new software is designed in such a way to provide exact solution.
Wireless technologies, ecommerce and open source: The new technologies integrated to the systems are wireless technology which enables the marketing executives to update information by accessing internet through mobile phones from any part of the world. Ecommerce is designed for easing the process of online transaction where the stakeholders can access the information from anywhere and marketing executives can provide easy customer care. Open source technology provides solution can be integrated to any platform without disturbing the existing flow of work.