ERP stands for enterprise resource planning. Enterprise Resource Planning (ERP) software can be defined as a complete business software solution. The basic purpose and aim of ERP software is to arrange and assimilate all the systems of entering data and processes, as related to business. ERP software is one of the most crucial elements for any business firm which aims to harmonize its business efforts.
Now talking about the scope or the trend of ERP in India, one can clearly make out that today India has emerged as a well known name and a key player in global ERP market. These days every top educational institutes and companies are constantly working towards promoting and expanding the IT market. In this context today ERP actually holds lot of promises both in terms of supply and demand.
As per Frost & Sullivan research analyses conducted in India, it has been found that due to rising competitive pressure many Indian companies are looking forward to equip themselves with modern business processes like ERP solutions that can further provide unlimited access to information and enable them to compete effectively. Some of the factors that are influencing the growth of ERP market in India are higher ROI, Rapid industrialization and ease of integration with legacy systems. Enterprise Resource Planning which was considered to the most critical buzzword in mid-90s has now readily opted by many companies.
ERP is much more than a piece of computer software. It has changed the way businesses were conducted in India and at present, more and more organizations and industries are operating it. Many Indian organizational performances have been greatly improved by the use of software applications like ERP that includes resource planning, management control, and operational control. Today if anyone says that ERP holds a great promise then many of us will certainly agree with this statement. ERP has brought some “core competence theory” into many Indian organizations.
ERP has brought new opportunities for many companies to trade with foreign counter parts in the name of outsourcing, implementation and deployment of the existing ones. It has also contributed in the growth of Indian economy. ERP has brought a new revolution in the thinking process, rules and procedures in the organization.
As Indian software industry is growing at great pace and so the growths of ERP packages promise a strong future. They have greatly contributed to the growth, welfare and dynamism in many companies, and stand out individually on account of its scope and utilities. No doubt this is an industry which has vast scope for development and great prospect in future in both software and non-software sectors.