Global ERP market set for boom

funny-cat-running-21-desktop-wallpaper-352x260Beancounters at Allied Market Research are predicting that it will be a boom time for the global ERP software market.

It has just released a study which shows the ERP market will reach at $41.69 billion by 2020 registering a CAGR of 7.2 percent.

The market owes it massive spurt in revenue to sectors such as healthcare, manufacturing services, BFSI, aerospace and defence, and telecom. The report gives a comprehensive analysis key market segments, top winning segments, lucrative investment pockets.

The medical centre and healthcare spend massive sums of money on critical medicines and machines to ensure a patient gets the best care. To track their supply chain management of thousands of medicines can be a nightmare. Many hospitals are still stuck on to outdated methods.

One of the outfits hoping to make a bob or two is Oracle which is building a new system to track supply chain management that will let¬†¬†customers create an “intelligent customer-centric approach”, whatever that marketing doo doo means.

Oracle brought about new cloud applications such as Oracle Supply Chain Management (SCM) Cloud, Oracle Customer Care Experience Cloud (CX) Suite, Oracle Enterprise Resource Planning (ERP) Cloud, And Oracle Human Capital Management(HCM) Cloud. The SCM cloud offers end-to-end visibility, insights, operation planning, demand management, supply planning and collaboration, and a host of other services that are comprehensive yet upgraded to hasten complex processes.

Retail and manufacturing sectors also need to look at resolving complex manually-daunting processes. Retail and manufacturers deal with bulk orders daily, sometimes individually or in collaboration.