ERP: 11 stats, facts, and data you need to know
In this blog, we will explore some of the key ERP fact, stats and data you need to know.
The truth is that business in the 21st century is heavily supported by technology. It must be, to keep up with the competition and to better serve the customer. One of the pillars of any successful business is ERP software. The use of this delivers three main things: efficiency, oversight and control – all of which make it easier for management and employees to perform their tasks without hindering overall production or spending time on monotonous yet important tasks like double-entry bookkeeping. What is more, ERP solutions can provide a much-needed boost to your bottom line.
Here the top 11 ERP Facts, stats and data you should know;
Fact 1 – Reduce product loss by increasing the visibility of your inventory with ERP. You know how fast your products are moving through your entire operations. As such, you can make the necessary adjustments to improve efficiency.
Fact 2 – The global enterprise resource planning (ERP) software market is expected to reach $95.37 billion in 2021 up by an estimated 1%. Analysts suggest the growing adoption of ERP software by SMEs could be a major growth driver of this market.
Fact 3 – Over 40% of ERP software is used in the manufacturing sector, making it the largest consumer of ERP and that number is growing.
Fact 4 – 40% of market leaders are looking for new technologies in an ERP system.
Fact 5 – 95% of SMEs that implement ERP will improve some or all of their business processes over time.
Fact 6 – Most solutions are designed to allow users to generate insights without having specific data analytics or IT skills.
Fact 7 – ERP software reduces operational costs on average by 23% and administration costs by 22%.
Fact 8 – SAP reports that 92% of Ford Global 2,000 companies, along with 98% of the 100 most valued brands, use SAP solutions.
Fact 9 – Companies can see what orders are being created at any moment. They can use that to anticipate what their customers want.
Fact 10 – 88% of organizations that implemented ERP systems consider them important to their success.
Fact 11 – 14% of enterprises are planning to shift from an older ERP system to a new advanced system.
Which ERP fact did you not know?
Signum Solutions specialises in SAP Business One, an all-in-one ERP package for the SME market. With over 10 years’ experience and specialist packages for Food & Beverage, Manufacturing, Wholesale and Chemicals, we have got your business covered.
Want to learn more about how SAP Business One can revolutionise your business? Download our free SAP Business One Infopack today.
ERP facts: Sources
Join our LinkedIn community for the latest industry trends and SAP news! Connect with professionals, access exclusive content, and stay updated on dynamic business and technology realms. Elevate your knowledge by joining us on LinkedIn and be the first to access thought-provoking articles and exciting updates!