ERP will be a business boon in 2018

The Global cloud Enterprise resource Planning (ERP) use is expected to grow by 8.3% for the next five years to 2022. According to industry experts, there will be more demand as the small and medium enterprises (SMEs) continue to adopt the cloud ERP solutions. According to report by market research “Global Cloud ERP Market: Trends, Opportunities and Forecasts (2016-2021)”, the demand for the Global cloud ERP is expected to grow significantly art Compound Annual Growth Rate (CAGR) of 8.3% for the period 2016-2021 up from 6.38% growth for the period 2011-2015.

The growth is expected to be driven by continuous increase in adoption of the cloud ERP by SMEs as well as SMBs in health, education and retail sectors. The growth is expected to be high in Australia, Japan and Asia Pacific region. The investment of various governments in the Global Cloud Enterprise Planning in health and education id expected to propel its growth even faster in the next five years. ERP(Enterprise Resource Planning) enables all departments in an institution to execute, plan and schedule events and activities easily.

Sharing of information by the authorized users become very easy especially when the software is centralized. All the processes in a busiess or instituton are automated hence simplifying transactions such as data entry.ERP’s main concern is automation of processes, billing, transaction accounting and transaction entry among others. It uses integrated ways to automate human resources, services and technologically related back office activities.With ERP, a manufacturer integrates and manages the crucial parts of the business.

An ERP management information system integrates departments such as sales, marketing, purchasing, inventory, human resource, finance etc. MIS(Management Information Systems) is where large number of end users put data in to the system while in ERP, only a few users do the same. Its function is to produce reports important to a certain level in an organization. When a user shares information, it is only the person concerned who access it. The recipient is only allowed to view the information or print the way it is without editing it. Its main focus is to provide effectiveness and efficiency in decision making through proper management of information systems.

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