Different industries rely on their ERP software for quite different reasons, however. According to G2, “The global ERP software market is projected to reach US$78.40 billion by 2026, growing at a CAGR of 10.2% from 2019 to 2026.”īusinesses in every industry – from automotive to wholesale distribution – need accurate, real-time information and effective business processes to compete and thrive. The importance of ERP software to businesses is illustrated by the growing adoption rate. And banks and shareholders require accurate financial records, so they count on reliable data and analysis made possible by the ERP system. Management needs instant visibility into the company’s performance to make timely decisions. Accounts payable needs ERP to pay suppliers correctly and on time. Logistics relies on well-running ERP software to deliver the right products and services to customers on time. Sales needs ERP to manage all customer orders. Most or all of an organization’s data should reside in the ERP system to provide a single source of truth across the business.įinance requires an ERP to quickly close the books. Sometimes described as “the central nervous system of an enterprise,” an ERP software system provides the automation, integration, and intelligence that is essential to efficiently run all day-to-day business operations.
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