target audience: TECH BUYER Publication date: May 2024 - Document type: IDC MarketScape - Doc Document number: # US50655223
IDC MarketScape: Worldwide SaaS and Cloud-Enabled Medium-Sized Business ERP Applications 2024 Vendor Assessment
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Abstract
This IDC study provides a thorough assessment of SaaS and cloud-enabled medium-sized ERP applications and discusses the criteria that are most important for companies to consider when selecting a solution.
"The digital world has reshaped the medium-sized businesses' focus on moving to the cloud to improve their speed, scale, agility, market share, and competitive advantage. This requires adapting new ERP technologies that enable speed and scale by reducing process steps and clicks, automating every workflow possible, embedding finance to collect and make payments, and helping improve overall decision velocity," said Mickey North Rizza, group VP, IDC's Enterprise Software. "The ability to improve the employees' experience, uncover and utilize insights quickly, and navigate business issues with reliable, modern, and intelligent ERP systems is a foundational layer the organization needs in the digital world."
"Growing medium-sized businesses are facing new complexities as they mature and inch closer to the enterprise realm," says Katie Evans, research director, IDC's Worldwide Small and Medium Business research. "They have more robust tech stacks, larger budgets, and more employees than their small business counterparts. Oftentimes they also have offices and workers that span many geographic locations. Therefore, it's essential that medium-sized companies invest in ERP systems that will give them a single source of data truth across all locations and departments so employees can make informed decisions and avoid operating in silos. Many medium-sized businesses also are now likely at the point where they have the technology expertise and income to embrace recent and forthcoming advancements in AI, GenAI, and automation. And they should. Investing in a strong ERP system that offers all these capabilities and more is absolutely crucial to medium-sized businesses' success and will set them up for long-term growth and economic storms, but also to help them come out more resilient once those storms pass."