Enterprise resource planning (ERP) refers to a category of software that is designed to help manage and automate a wide range of business operations, from internal processes, such as accounting and human resources (HR), to back-end processes, including inventory management and logistics, and outward-facing processes, including sales and marketing functions. The goal of ERP software is to centralize critical business processes, providing enhanced visibility and control, which should lead to increased operational efficiency, cost savings, improved decision making, and the ability to nimbly respond to changes in the market.
Today’s ERP systems incorporate a wide range of features and capabilities and are often embedded with advanced automation, AI, and the ability to integrate other systems and data. Although functionality has increased, many enterprise and mid-market companies might struggle with the selection of an appropriate ERP system due to the wide variety of choices in the market. Perhaps the most basic question facing decision makers revolves around choosing between ERP solutions that are designed to appeal to all types of organizations and use cases versus a more specialized ERP solution.
The most basic market delineation can be made by segmenting it into two categories of ERP software: generic versus specialized. Many large ERP vendors will offer multiple solutions or may offer modules or add-on components to convert a generic solution into an ERP solution with industry or use-case specific features. However, there are also a large number of vendors that offer ERP solutions that target discrete industries and use cases and whose architecture, workflows, and data connections are solely focused on supporting the processes and data used within a specific industry.
In our latest report, Market Insight Report: Breaking Down Generic versus Specialized ERP Software, we provide a comparison of generic ERP software versus specialized solutions, detail factors that should be considered when evaluating an ERP solution and provide a representative sample of several specific ERP vendors’ solutions, describing their target customers, features, and positioning.
In this report, you will learn:
- The size of the ERP global software market in terms of value and number of market participants
- The key factors that differentiate generic, one-size-fits-all ERP solutions from industry-specific ERP solutions
- Advantages and limitations of generic and industry-specific ERP solutions
- Specific factors to consider when evaluation ERP software
- Key features from several representative generic and industry-specific ERP solutions
The goal of ERP software is to centralize critical business processes, providing enhanced visibility and control, which should lead to increased operational efficiency, cost savings, improved decision-making, and the ability to nimbly respond to changes in the market. Selecting the right type of ERP solution is critical to ensuring that an enterprise can achieve this goal. To learn more about generic versus specialized ERP software, download Market Insight Report: Breaking Down Generic versus Specialized ERP Software today.
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Author Information
Keith Kirkpatrick is VP & Research Director, Enterprise Software & Digital Workflows for The Futurum Group. Keith has over 25 years of experience in research, marketing, and consulting-based fields.
He has authored in-depth reports and market forecast studies covering artificial intelligence, biometrics, data analytics, robotics, high performance computing, and quantum computing, with a specific focus on the use of these technologies within large enterprise organizations and SMBs. He has also established strong working relationships with the international technology vendor community and is a frequent speaker at industry conferences and events.
In his career as a financial and technology journalist he has written for national and trade publications, including BusinessWeek, CNBC.com, Investment Dealers’ Digest, The Red Herring, The Communications of the ACM, and Mobile Computing & Communications, among others.
He is a member of the Association of Independent Information Professionals (AIIP).
Keith holds dual Bachelor of Arts degrees in Magazine Journalism and Sociology from Syracuse University.
