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Singapore Mid Market ERP Software Market
Frost & Sullivan, July 2004
Small Businesses Rejuvenate Demand for ERP Software
The enterprise resource planning (ERP) software market in Singapore is on a comeback trail as small- and medium-sized businesses (SMBs) step up deployment of mid-market ERP (MERP) solutions, specifically designed to suit their functional requirements. The market has returned to growth mode after a brief lull caused by the demand saturation for traditional ERP software among large organizations. However, marketing MERP software to SMBs is a difficult task, as they are extremely cost-conscious and reluctant to invest in incremental projects that would yield long-term benefits. To overcome this challenge and cash in on the huge business potential, vendors are explicitly redesigning their products to deliver comprehensive solutions.
Frost & Sullivan’s recent research examines the emerging opportunities for MERP and its impact on the total ERP market in Singapore. The study focuses on five key segments in ERP, namely, financial management, manufacturing, sales and distribution, human resources and payroll, and hosted ERP. It provides an in-depth discussion about various vendor issues, prevailing market challenges, and strategic recommendations to overcome them.
Greater Demand for MERP Drives Overall Growth of the ERP Market
Demand for MERP software is steadily increasing among SMBs that are always innovating and customizing their products and services to meet the changing business requirements. The inherent need to provide sophisticated solutions that are capable of reducing complexities in back-end operations has intensified the competition between Tier I and Tier II ERP vendors. This is only likely to benefit SMBs, as they will have better products at competitive prices to choose from.
Enterprises are keen to reduce costs and increase revenue, leading to efficacious business management. The escalating competitive pressure is forcing companies to equip themselves with modern business processes that will provide unlimited access to information and enable them to compete effectively in the emerging global market, says the analyst. These developments are giving a fresh impetus to the ERP market.
MERP Software Market Holds Huge Untapped Revenue Potential
Apart from catering to the SMB segment, vendors are also focusing on expanding their product offerings and providing solutions to specific verticals. Industry specific functionality is gaining importance as companies look for meaningful solutions with appropriate differentiation tailored to match their diverse requirements, says the analyst. This is an exciting development, which holds immense revenue potential.
Additionally, application service provider (ASP) initiatives are increasing in Singapore with SMBs realizing the benefits of outsourcing the management of their financials and operational systems through an ASP model. This is likely to reduce costs and eliminate the dependence on limited internal IT resources. However, market success will only favor those vendors that swiftly implement MERP software at a reasonable cost besides facilitating a quicker ROI and expansion of customer base. To execute this, vendors should identify the right channel partners and value-added resellers (VARs) and continuously help customers to derive value from their investments.
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