Enterprise resource planning is a collective set of computer programs with shared business applications that cater to the needs of an entire organization rather than an individual user. It provides services such as automated billing system, human resource management, customer relationship management, finance, supply chain, and others. Over the past few years, the cloud-based deployment model for enterprise resource planning software has gained a significant momentum owing to cost-effective advantages of cloud platform and easy deployment. In addition, the role of cloud enterprise resource planning has changed from a back-office management to business process enhancement, which urged companies to modify their internal processes. This changing dynamic has significantly increased the demand for cloud enterprise resource planning solution among large- and small- & medium-sized organizations worldwide.
Low cost and limited expenditure on hardware or software drive the market growth. In addition, the need for process automation, growth toward price-sensitive cloud deployments, and rise in need of regulatory compliances for data sovereignty also boost the market. Further, rapid changes in business models and developments in cloud trend are expected to offer considerable growth opportunities for the cloud enterprise resource planning market.
Major Key Players of the Cloud-based Enterprise Resource Planning (ERP) Market are:Oracle, IBM, Microsoft, SAP SE, Sage Group Plc., Aptean, Epicor Software Corp., Infor, Syspro, Unit4, and others.
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