There’s no doubt that enterprise resource planning (ERP) systems are becoming an increasingly important part of business operations. But just how important are they? Well, according to recent studies, ERP systems are responsible for billions of dollars in savings every year. In this blog post, we’ll take a closer look at ERP statistics and explore some of the benefits these systems can provide. So if you’re looking for ways to improve your business operations, read on! You might be surprised at just how much ERP systems can help.
The implementation of ERP software is becoming increasingly popular in businesses all over the world. This growth can be attributed to ERP’s multiple benefits, such as improved efficiency and productivity.
Up to 53% of IT executives included ERP on the list of priorities next to CRM implementation, and 50% of organizations are already on their way to buying, upgrading, or planning to update their existing ERP systems.
(EPC Group, Oracle Netsuite)
According to recent statistics, the ERP market size is expected to be valued at $96.04 billion in 2022. ERP usage statistics meanwhile point to an increased global growth with a CAGR of over 8% over the next five years. The ERP market share in North America already exceeds $10 billion.
The ERP market is highly competitive, with a large number of vendors offering a wide range of products and services. However, the market is expected to consolidate in the coming years as larger vendors acquire smaller ones.
(Oracle Netsuite, EPC Group)
According to ERP market statistics, this represents a slight rise of 0.69% from $94.05 billion in 2019. Some reports go over $100 billion in their predictions, and so ERP rates at Reportlikner predict a rebound at a CAGR of 8% from 2021 and potential growth of up to $181.5 billion in 2023.
The rest of the top consumers of ERP software include the following industries:
ERP stats show that most organizations turn to ERP consultants to help with their projects. The most common types of help are as follows:
(Finances Online, Panorama)
A Deloitte study found that even though most businesses are able to meet or exceed their goals, ERP projects often fail. ERP failure statistics show the percentage is anywhere between 55% and 75% depending on what type of ERP analysis you do with your data.
To get ahead, companies using ERP systems need to understand the barriers and how they can be overcome. In 65% of cases, unrealistic expectations are what hold people back from achieving success, while insufficient backing causes frustration for that 72% who strive in an endeavor with little support available. Failed ERP implementation statistics show that resistance to new solutions is the main reason for missing out.
As for administrative costs, the savings go up to 22%, according to ERP data. As many as 95% of companies meanwhile see major improvements after implementing ERP software which improves process times, boosts collaboration, and centralizes data. ERP ROI assessment further shows that 28% of companies using this type of software achieved positive ROI within a year, 58% did so within two years, and 15% needed more than three years.
The rise of digitalization and global trade has created an overwhelming need for ERP software, which helps them analyze data from across the organization to make better business decisions more efficiently. Statistics on ERP implementation show that this trend is unlikely to let up anytime soon. Most large businesses use some kind of ERP system, but it can be expensive to implement and maintain. Small businesses may not need all the features of an ERP system, so they may want to consider other options like CRM software.
ERP stands for enterprise resource planning, and it’s a type of software that helps businesses manage their resources. ERP systems can track things like inventory levels, sales data, and customer information. According to ERP stats, such systems can help streamline processes, improve communication, increase synergies across departments and, as a result, boost productivity in companies that use ERP.
The future of business is here and it’s all cloud-based. A recent survey showed that 64% percent or more companies are using SaaS, 21% use an on-premises system, and just 15% still maintain physical servers at their company headquarters. As for inside use, 26% of employees use the company’s ERP software.
ERP implementation failure statistics show that the ERP failure rate is 55% to 75%, which means well over half of all ERP projects fail. The most common reason for project failure is poor system selection. This can be caused by consultants not understanding what technology will work best with the company’s needs, as well as business leaders who make decisions without considering all aspects of their ERP implementation plan from key employee participation to office politics within an organization’s culture, ERP statistics reveal.