Enterprise resource planning software has existed for many years, and is crucial for businesses of all sizes to collect and manage their data. It usually takes the form of a set of related and integrated applications, which together form a unified way of business management.

In 2018, Allied Market Research valued the ERP software market at over $35 billion dollars. The market is mainly dominated by four companies: Oracle, SAP, Sage, and Infor. As a result of the coronavirus pandemic, the demand for reliable supply chains across the world has increased: this demand can be met by ERP software, and so its market value is predicted to increase massively in the years to come.

The ERP software market is able to enjoy such success through continual innovation; developers are always coming up with new ways to expediate the process of business management. This innovation, of course, is targeted at the demands of consumers. According to Market Watch, consumers are now looking for increased transparency and efficiency within business processes and help with data-driven decision-making, among other things. There has also been a notable uptick in demand from smaller businesses aiming to make their business processes easier and more transparent.

Oracle, which was founded in 1977, is perhaps the most key player within the market, offering cutting edge technology such as machine learning to businesses. The company’s set of applications helps to automate routine tasks, thereby making business processes faster and easier. AI and machine learning also play a key role in the technologies offered by other big ERP companies, such as SAP, Sage, and Infor, and are expected to continue to do so into 2022 and beyond.

Source: www.selecthub.com