Future-proof your business: Take Advantage of Market Growth
It’s time to take advantage. With ERP and EDI markets both set to grow, now is the perfect time to embark on an ERP-Supply Chain partnership. In this short article, we explore both the ERP and EDI markets and the opportunity that is available to you as an ERP business.
ERP Market Growth
The pandemic has caused a surge in the ERP market due to the need for remote working as well as to become agile to overcome disruptions. As an ERP business, I’m sure you will already have been experiencing this surge in demand for these exact reasons.
Suggested reading: To find out more take a look at the article Post-Pandemic Supply Chain Challenges Increase the Pressure
‘The global cloud ERP market size is expected to grow from USD 45.3 billion in 2020 to USD 101.1 billion by 2025’ ¹
With the ERP market expected to grow, both acquisitions and product launches would offer lucrative opportunities for market players within the next five years.¹ Therefore, looking into the different ways you can expand, is definitely something to consider. To ensure you keep your competitive edge moving forward, this type of explorative research is key to success.
For example, one way to expand could be into a new market. ERP growth is expected to take place across multiple verticals including; Manufacturing, Retail, BFSI, IT & Telecom, Aerospace & Defence and Education.² Many of these verticals are involved in supply chains, and as such would require an ERP system, as a result, they could be your potential customers. So, worth investigating right?
To add to this, the market will also grow across both Large Enterprises and SME’s.² So if your customer base contains either or both, it’s time to start exploring your options.
ERP market for Supply Chain
The majority of ERP platforms include modules for inventory control and supply chain management which has begun to address the growing demand among enterprises to improve operational efficiency and streamline business processes.¹ However, there is a long way to go and this is where EDI comes in.
With an increase in demand for data-driven decision-making ², now more than ever it is crucial to strive for data integration and a simplified view.
Suggested Reading: Consumer Expectations cause Demand for Integrated Data
EDI Market Growth
EDI is used widely in many industries, particularly Healthcare, Retail, Automotive, Manufacturing and Logistics. It is often the case that the use of EDI is mandated when a business is required to trade within some of these industries. Therefore, it is highly likely that some of your ERP users will already know of or be using EDI. In some cases, your customers could have already been mandated to use EDI to ensure they can continue to do business with various entities.
‘The electronic data interchange (EDI) market demand was estimated at USD 26 billion in 2020. The market is further expected to grow at a CAGR of 12% in the forecast period for 2022-2027.’ ³
With this predicted growth of both EDI and ERP markets alongside the strong link between their users, it is clear that partnering would offer a lucrative opportunity as mentioned earlier.
In addition, within the EDI market, there is a similar trend to that within ERP. The transformation of enterprises from traditional to a digital model as well as a growing demand to reduce operating costs and enhance efficiency.³ These compelling similarities between EDI and ERP users solidify the suggestion that exploring an ERP-Supply Chain partnership is something worth considering.
A modern approach
Our approach to EDI offers complete supply chain visibility and agile supplier relationships alongside efficiencies and opportunities for re-investment. This agile approach is achieved through our EDI-as-a-Service offering.
We’ve refined our EDI solution to really provide what supply chain businesses need in these trying times. With our ERP-Supply Chain partnership options, you’re able to offer EDI-as-a-Service to your clients and take away their pain.
Suggested Reading: Find out more about EDI-as-a-Service on our webpage.
ERP-Supply Chain partnership
The benefits of a partnership to you:
- Expand portfolio
- Offer end-to-end solution
- Retain & grow clients
- Attract new clients
Suggested Viewing: Take a look at this Gartner Magic Quadrant partner case study video
The benefits to your clients:
- Increased visibility
- Real-time data
- Improved reporting
- Improved decision making
- Simplified tech-stack
Explore our case studies to find out more about how EDI can benefit your ERP customers.
¹Market and Markets: Cloud ERP Market by Component (Solution and Services), Business Function (Accounting and Finance, Sales and Marketing, and Inventory and Order Management), Industry Vertical, Organization Size, and Region - Global Forecast to 2025 ²Market Research Future: Global ERP Software Market ³EMR: Global Electronic Data Interchange (EDI) Market Outlook