ERP Market Size Expected to Exceed $49 Billion by 2020

Enterprise Resource Planning (ERP) is an integrated software solution that allows businesses to improve processes relating to planning, distribution, finance, marketing, human resources and more. With an ERP system in place, businesses can make more effective decisions based on real-time analytics, reduce waste and redundant tasks and improve the efficiency for better results using fewer resources. In short, ERP is a personalized software solution to integrate and streamline all business processes. It’s little wonder that the market is growing at an exponential rate as more companies look to utilize ERP to enhance their operations.

Projected Value of the ERP Market

According to a report by MarketResearchEngine.com, the global ERP market is expected to exceed $49 billion by 2020. The report provides an overview of the ERP and related technology markets, analysis global trends and presents the figure using data and projections.

In a more conservative estimate, ResearchandMarkets.com predict that the ERP market will be worth $41.04 billion by 2020, with a CAGR growth rate of 6.9% from 2015 to 2020. Allied Market Research also offers a similar projection of $41.9 billion, with a 7.2% growth rate.

Even if we take the more conservative estimates of around $41 billion, we can see that the ERP market is currently on the rise in an impressive way. To put the industry value into perspective, the global online gambling sector was worth around $37.91 billion worldwide in 2015 but is projected to be worth $57.79 billion by 2020.

Soon, the ERP market will be worth nearly as much as the online gambling market. So, what is the reason for this exponential increase?

Why is the ERP Market Growing?

The expected market growth is occurring for many reasons. To put it simply, businesses are benefiting from ERP solutions in a big way, saving time and making more money as a result of certain market forces that are responsible for the projected market growth of ERP. They include:

  • A need for more intelligent and streamlined business processes
  • The requirement for businesses to achieve more operational efficiency
  • A growing demand from small, and especially medium-size businesses for ERP solutions that can drive them forward
  • An increasing acceptance of mobile and cloud-based services, opening doors for more flexible, lower investment opportunities for SaaS

Restraining Factors for Market Growth

A decent financial projection looks not only at the reasons for growth but also the restraining factors that could prevent or stunt growth. Every industry has these restraining factors.

Let’s look at the online gambling market again. Of the $57 billion expected by 2020, reports suggest that only around $4 billion of this will come from the USA. This is because the USA has stringent legislation in many states, with New Jersey being one of the exceptions. Sites like 888 Casino offer New Jersey players the chance to play casino games for real money. Nevertheless, the federal laws in operation in the USA are a great example of restraining market forces.

For the enterprise resource planning industry, these restraining factors include the cost of customization of an ERP system for individual businesses, the cost of upgrading an ERP system, the difficulties in integrating several ERP systems into one “master” system and the lack of use of ERP solutions for very small businesses. Despite restraining factors, the ERP market has a promising future. And with all the projections mentioned here, the ERP industry is looking at a global industry worth over $40 billion by 2020.

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Big data: It’s how you use it that counts

With all the chatter about collecting and storing big data, the old adage seems to be true: Size does not matter as much as how you use it.

The head honcho of a global analytics firm last month gave the example of how cities around the world are now billing themselves as “smart”. “If you have a sensor-based city, where you have sensors everywhere, then you have huge amounts of data that have to be analysed and put to use,” SAS co-founder and chief executive Jim Goodnight noted, in a briefing on the sidelines of his firm’s Analytics Experience conference in Amsterdam in the Netherlands.

“There’s no reason to have sensors if you’re not going to analyse the data and make use of it.”

The same principle applies to the business world.

Experts told The Straits Times th

But he adds: “For private-sector companies, especially local ones, we cannot compare with the United States or China.”

He notes that while multinationals may have built analytics hubs here to tap home-grown talent, smaller enterprises “are very reliant on government policy, such as initiatives and funding”.

Assistant professor of marketing Ernst Osinga from the Singapore Management University’s Lee Kong Chian School of Business adds: “A barrier for Singaporean firms is that the local market is relatively small.

“Analytics requires investment. In larger markets, the required investments will be lower relative to a retailer’s revenues.”

Besides urban solutions, banking and finance are also relatively more mature in terms of data analytics.

Mr Paul Cobban, chief data and transformation officer at local lender DBS Bank, told ST: “Banks historically have had, and continue to have, vast amounts of data on their customers and beyond.

“What’s happened over the past few years is, the cost of storing data has been reduced.”

In the past, says Mr Cobban, banks were “all about lockdown and control”, with an emphasis on safeguarding data – but they must now think in a new way, to use that information safely and fruitfully.

But, according to Foodpanda Singapore managing director Luc Andreani, even the new players dubbed “tech disrupters” stand to gain from streamlined processes.

The third-party food delivery marketplace, which was acquired last year by Delivery Hero, can now count on a centralised data warehouse in Berlin, Germany, and common analytics tools across all operations worldwide.

at the savvy use of data has been patchy here, with the public services more often than not taking the lead in the industry.

Associate Professor James Pang, co-director of the National University of Singapore’s Business Analytics Centre, says healthcare and transport are areas that have benefited.”The Government did put in a lot of effort, so from the public-sector perspective, we are in very good shape.”

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Article Credit: Straits Times

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IoT projects need to deliver revenue quickly

Customers deploying Internet of Things (IoT) projects neither have the time or the budget to be experimental and are looking to the industry to help deliver results quickly.

Despite all the buzz about the growth in the IoT customers in vertical markets are not awash with spare cash to fund the development and roll out of technology.

The industrialised IoT market is starting to gather pace and examples of health, agriculture and manufacturing are emerging as sectors where some projects have been successfully deployed.

“You have to reduce time to revenue and time to market,” is the view from Alex Hollingsworth, senior director EMEA sales at Lantronix.

The firm has recently launched its own software platform, Mach10, to make it easier for those OEMs developing IoT solutions.

Customers are calling for suppliers to create a business case and the Lantronix platform should help OEMs create the value to show users.

“We are helping OEMs to build incremental value to disrupt the market and generate incremental revenue,” Hollingworth added that more of the industry was coming under pressure to adopt the technology.

“If people don’t accelerate IoT efforts they can’t afford to sit on the fence anymore,” he added.

Although it remains early days for the traditional reseller channel in regards to IoT there are signs that some specialists are emerging. Lantronix views its role to encourage the development of ecosystems that support those trying to meet customer needs.

“Specialised resellers will evolve around IoT. Many companies try to do it all themselves but find that they can’t do it all. There is more and more understanding that to be successful they have to partner,” said EE Wang, director of corporate marketing at Lantronix.

Others in the IoT channel have also expressed the view that next year should see more activity in the market.

Earlier this month, David Fearne, technical director at Arrow ECS, said that it was optimistic about what was coming.

“We have seen a lot of interesting conversations about it this year and next year we expect those to turn into opportunities,” he added “We are seeing proof of concept put into place in some industries that are using terabytes of data and there is a huge opportunity for Arrow ECS to put into place data solutions to deal with these opportunities.

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Article Credit: Computer Weekly

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Friendly Technologies Simplifies IoT

Today Friendly Technologies published the white paper, “What is IoT? Understanding IoT Protocols, Clients, and Servers.”

“IoT” is a broad and somewhat unspecific term, and everyone seems to have a different notion of what it is. This paper’s purpose is to put some basic IoT and Device Management concepts and terms in order.

The paper also discusses technologies available in the world of IoT and defines when each protocol should be used, providing an overview of the advantages and disadvantages of each one from the perspective of Device Management and IoT.

After reading this paper, you should have a deeper understanding of what IoT is, have a greater grasp of standard IoT protocols and clients, and be able to choose the appropriate type of client for specific IoT scenarios.

This paper should provide an added value to the following types of companies: device manufacturers (OEMs), carriers, CSPs, IoT companies and system integrators, and IoT platform providers.

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Article Credit: Prnewswire

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The rise of IoT-based Hivenets

Over the past few years, we have seen the development of predictive software using artificial intelligence techniques. The latest advances in these sorts of tools employ swarm technology to use massive databases of expert knowledge, comprised of billions of constantly updated bits of data, to make accurate predictions. Such systems can be used to offer advice, make medical diagnoses or increase trading profitability on the stock exchange. This sort of predictive analysis represents an entirely new paradigm for how computing resources will be used to transform our world.

So, what does this have to do with IoT? Over the past year, we have seen the development and deployment of massive IoT-based botnets, such as Mirai or the currently emerging Reaper system, built around millions of compromised IoT devices. These weaponized botnets have been used as blunt force tools to knock out devices, networks or even huge segments of the internet.

Based on developments we are seeing in places like the dark web, we predict that cybercriminals will begin to upgrade IoT-based botnets with swarm-based technology to create more effective attacks. If you think about it, traditional botnets are mindless slaves — they wait for commands from the bot herder (master) in order to execute an attack. But what if these nodes were able to make autonomous decisions with minimal supervision, use their collective intelligence to solve problems, or simultaneously target multiple vulnerability points in a network using a variety of penetration and exploit techniques?

The result would be a Hivenet instead of a botnet. Such a tool can use peer-based self-learning to effectively target vulnerable systems on an unprecedented scale. Hivenets will be able to use swarms of compromised devices, or swarmbots, to simultaneously identify and tackle different attack vectors. Hivenets are especially dangerous because, unlike traditional botnet zombies, individual swarmbots are smart. They are able to of talk to each other, take action based on shared local intelligence, use swarm intelligence to act on commands without the botnet herder instructing them to do so, and recruit and train new members of the hive. As a result, as a Hivenet identifies and compromises more devices it will be able to grow exponentially and thereby widen its ability to simultaneously attack multiple victims.

While IoT-based attacks such as Mirai or Reaper are not using swarm technology yet, they already have the footprint necessary. Reaper is especially concerning because it uses a Lua engine with additional Lua scripts. Lua is an embedded programming language designed to enable scripts to run, enabling an attacker to switch from one attack to another fairly easily. Upgrading this sort of code to use emerging swarm behaviours and AI would have devastating consequences.

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Article Credit: TechTarget

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IoT needs to be secured by the network

Everyone who has a stake in the internet of things, from device manufacturers to network service providers to implementers to customers themselves, makes important contributions to the security or lack thereof in enterprise IoT, attendees at Security of Things World were told.

“The key to all [IoT devices] is that they are networked,” Jamison Utter, senior business development manager at Palo Alto Networks told a group at the conference. “It’s not just a single thing sitting on the counter like my toaster, it participates in the network because it provides value back to business.”

“I think the media focuses a lot on the consumer, because people reading their articles and watching the news … think about it, but they’re not thinking about the impact of the factory that built that consumer device, that has 10,000 or 20,000 robots and sensors that are all IoT and made this happen.”

The fact that IoT has security issues is well-known – Utter likens it to the case of Windows 95, which suffered from infamous security problems in large part because it wasn’t designed from the ground up to be secure.

Is your business ERP ready for Industry 4.0?

IN A business environment of increasing competition, growing markets and rising customer expectation, it’s not going to be enough for manufacturers to simply maintain the status quo.

To survive and thrive, manufacturers must focus on growth, meaning they must embrace Industry 4.0 technologies.

Industry 4.0 encompasses the current trend of automation and data exchange in manufacturing technologies, including IoT, cloud computing and cognitive computing.

Enterprise resource planning (ERP) vendors and resellers are developing solutions that are Industry 4.0 ready. This follows an expectation of a boom in Industry 4.0 technologies as well as an increase in manufacturing processes that embrace the principles of the fourth industrial revolution.

So what makes Industry 4.0 so crucial in relation to ERP systems? Through the digitization of products and the processes that create them, a production environment that’s far superior, far more connected, and increasingly more efficient can be developed.

Despite most ERP manufacturers being aware of the anticipated Industry 4.0, according to a report by foresight, only 30 percent have begun to invest and utilize modern technologies in their processes. However, research has shown that those businesses who have jumped the digital bandwagon have experienced growth at above-average rates in the last three years.

According to Terri Hiskey, vice president of portfolio marketing-manufacturing at Epicor software, in order to best prepare for Industry 4.0, businesses need to analyse existing IT systems to see if their current ERP will be able to cope with the changing demands.

Hiskey suggests the following considerations as a good place to start:

What does your current ERP software architecture look like?

According to Hiskey, auditing and assesses your current software is crucial in order to see how “future-ready” it is. In a fast-moving Industry 4.0 world, ERP software acts as a central management platform for those along the supply chain which is subject to continuous requirements in terms of scalability, data management, and connectivity with third-party systems.

If frequent changes are costly and burdensome for your business, then your ERP systems may not be well suited to Industry 4.0.

How do your systems currently talk to each other?

Secondly, you should consider how different departments in your business relate and communicate with one another as well as what kind of data they share. In order to see the benefits of Industry 4.0, all departments should be able to have access to the same real-time production data on an ERP system.

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Article Credit: Techwireasia

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What KPIs can assess demand-driven MRP when using SAP ERP?

Setting up demand-driven metrics and using analytics to monitor them can provide benefits such as helping to reduce working capital commitments and improving service levels

Assessing the impact of implementing demand-driven materials resource planning requires defining important key performance indicators, then using analytics to monitor them.

SAP now offers demand-driven MRP — also known as DDMRP or a replenishment solution — for SAP S/4HANA Cloud and on-premises editions. SAP will be offering the same capabilities in SAP ERP Central Component (ECC) in early 2018. For now, only third-party add-ons are available to handle the analytics function for S/4HANA Cloud, On-premises, ECC, Advance Planning and Optimization and Integrated Business Planning.

Before delving into the three key performance indicators (KPIs) a company can monitor to evaluate the impact of its demand-driven MRP initiatives, it’s important to first gain a quick understanding of how demand-driven materials planning actually works.

Demand-driven materials planning requires setting up inventory buffers at strategic points in the supply chain — known as inventory positioning — so as to independently plan, schedule and execute materials supply based on actual demand. Not only is the inventory position critical, but so is how much inventory is placed, known as sizing, so as to bring harmony between materials’ demand and supply.

Effective inventory positioning and sizing immediately lead to business benefits such as reduction in working capital, storage costs and expedited material costs, all while increasing production efficiencies through effective machine capacity and resource utilization. Analytics can play an important role in a closed-loop approach to materials planning; supply order management; the regular, timely feedback on information and material flows; and in identifying areas for improvement.

Here are three demand-driven KPIs or metrics to monitor with analytics.

Signal integrity

Signal integrity in the supply chain monitors if there’s a complete, correct and timely communication of requisite data and information to ensure replenishment. This replenishment should not only be timely but should also meet the recommended quantity using the demand-driven approach.

A delayed placement of a replenishment order or a quantity mismatch can contribute to supply chain disruptions. Analytics can help look into the root causes of these disruptions, so as to improve the information flow and maintain signal integrity.

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Article Credit: Search SAP. Tech Target

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How we grow from breaks in our CV – Women in IT

I feel I need to start by giving some context. Firstly, my advice below applies to any industry and any gender. Secondly regardless of role, we are all leaders. Servant leaders, line leaders and most importantly, leaders of our own lives. I am however going to frame this in regards to women in technology. We are making great strives to focus much needed attention in encouraging young girls into STEM subjects, future talent is critical. But what about today’s workforce? The pipeline into management roles and those already in leadership positions? There is a known decline in the number of women in IT post a certain age range. We can only surmise as to the various reasons but what practical guidance can we give to buck this trend?

A break from the traditional work CV can be born from many situations. A sabbatical, maternity leave and in my case breast cancer. Yes, it’s been brutal and I wouldn’t wish it upon my worst enemy but with any life event these are learning opportunities, whether you want it or not! During this turbulent road -apart from the physical, psychological and emotional hurdles -I wrote and published a book of cancer poems encouraging others to write when it is difficult to talk (@bewithmeitsc). I had and still have the privilege of being a Trustee for seAp advocacy advising on IT, Change & Transformation. seAp’s advocates are real hero’s as they provideessential support and a voice for those in need.

Whatever your life event, our behaviours, values and responses are tested more intensely than in many work situations. So how do we portray this when we emerge and look to return to the workplace?

Advice for candidates –

You will have grown in yourself during this work break and now offer fresh perspective and thinking. Perhaps you discovered some hidden talents you never knew existed or found yourself to be in such demand that multi-tasking is now plain sailing. Whether it’s time management, negotiation, problem solving, delegating, empowering, innovating, financial management, dealing with risk, resilience, patience, creativity, determination… I can go on… what behaviours, skills and perhaps value challenges have you embraced? When providing interview responses pick a previous relevant work example. Once shared, expand on how you would tackle this situation in future incorporating your recent personal development. Would you change your approach at all or are you more confident in your actions? Are you more of a risk taker or do you now apply different logic to your decision making? Have you learnt about a new culture or language since then? Have you recently encouraged a group of extremely reluctant people to come together for a common purpose? Did you deal with a different kind of politics? Perhaps you negotiated a path through a series of demands upon your time? Remember we get tested in our daily lives, your responsibility is to explain how this naturally transfers to the workplace.

Advice for recruiting manager –

I am skipping past the obvious in that I have assumed competence in the job and previous experience that demonstrate core skill set. Depending on the duration away from the workplace this could simply require a quick dusting off the cobwebs, perhaps with an initial work buddy (to assist with the odd question) or a bit more with training. Once competency is established the essential question is; do you think she is capable of doing the job? Will she fit with your culture and team? What behaviours has she demonstrated that will drive value for the organisation? If you like her style and feel she is capable but apprehensive about the ‘time off’ in comparison to other candidates, then I’d encourage you to play a small part in ending the disappearance of women in technology post a certain age. You have this responsibility. Rather than wonder why, act on it. If she can prove her capabilities and confidence in handling situations,then she will be a strong addition to your team.

A last word of encouragement to any women looking to return to work or indeed move on –

Remember, if you can do everything listed in the job spec you’d be bored within a few months. It just means you can do it all and will have no opportunity to grow. To be frank, anyone ticking every box in a job specis over qualified as this is a dream list.

So…

  1. Have faith in yourself
  2. Get your life experience lessonsto enhance your old work examples polished. Then,
  3. Go and demonstrate how you can make a difference.

You are an invaluable member of the team.

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