Cloud ERP Software in Dubai and Middle East MarketBy Rizwan Rauf on
The Middle East cloud applications market is broadly segmented by types: Customer Relationship Management (CRM), content management and collaboration, ecommerce, Human capital management (HCM), Enterprise Resource Planning (ERP), Business Intelligence (BI), Supply Chain Management (SCM), and Other industry specific application; By vertical: Banking, Financial Services, and Insurance (BFSI), retail and wholesale, telecommunication & IT, healthcare & life sciences, government, manufacturing, resource and utilities, travel and hospitality, and others; By country: Kingdom of Saudi Arabia (KSA), Unites Arab Emirates (UAE), Qatar.
The Middle East cloud applications market is expected to grow from $887.5 Million in 2015 to $2404.5 Million by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 22.1% from 2015 to 2020.
Another massive wave of adoption will be ERP in the cloud as finance and supply chain lines of business start to not only see the immediate value of the cloud - such as faster innovation - but also that cloud offers a truly secure business environment.
The simplicity of the cloud can help organisations to easily digitize and improve core business processes and operations. In addition, as we move to a post-oil economy, deploying the latest cloud innovations can accelerate development of new business models, processes and decisions.
The more I think about it, the more I believe that cloud is the perfect fit for a fast-changing world. It is the only consumption model that offers such a level of flexibility combined with quick innovation cycles.
Companies today have even more applicable software alternatives and devices than they had in the past years. With the arrival of 2017, companies have many new, different ERP systems to choose from. Aside from the new technologies used such as mobility and cloud, the IoT — Internet of Things will also open new doors and increase the potential of companies. A network of connected devices will let customers gain an insight into their products and problems and with the help of sensors and devices, all connected together, companies will be aware of a possible malfunction and collect data. Moreover, IoT will also help companies to learn about customer behavior by collecting data from products.
Following are the reasons for a company to move on to Cloud ERP system in Middle East.
- Minimized initial investment: On-site ERP solutions require large investment and SMEs do not usually have such a budget for investment. Hence, cloud- based ERP is like a breather for the small and medium enterprises as Cloud ERP solution does not require a substantial initial investment.
- Minimized technical staff implication: Cloud- based ERP solution eliminates the cost of installing and integrating an additional hardware to support the ERP, thereby enterprises don’t have to hire additional technical staff to support the application on an ongoing basis.
- Subscription benefits: Since all SaaS (Software-as-a-Service) services are offered on a subscription basis, there are no unexpected costs. Thereby, the enterprise can keep a check on the expenses on a monthly basis.
- Better security: Cloud vendors typically provide a higher level of security. In the cloud, essential integration between enterprise applications and supported data, processes, and user interfaces isn’t an issue.
- Low maintenance cost: The cost for running the SaaS system is very low.
- Easy integration: Cloud ERP solutions can easily be implemented and integrated faster into the enterprise’s day-to-day activity.
- Easily scalable: Cloud services are typically virtualized allowing for dynamic resource availability. Thus resources are scalable on demand. This allows companies to pay for the amount of usage that they need as it fluctuates with their demand.
- Fast and agile operations: The marketplace is increasingly unpredictable. Through cloud-based ERP solutions, business owners and stakeholders can respond to the dynamic needs of their clients more quickly, giving them the edge to outmaneuver the competition.
- Flexibility and Accessibility: Cloud ERP enables mobility, allowing access from pretty much any device, anywhere, anytime. It reduces barriers to innovation by allowing new classes of applications and services to be delivered that were not possible before.
- Increases productivity: With Cloud ERP the customers do not have to worry about problems related to implication, software, etc, as all of it is taken care by the vendor. Hence, there is ample time for the user to focus on innovation to enhance their core business.
- Easily expandable: Additional users can easily be added into the SaaS system without implementing any additional technology.
- Automatic upgrades: Cloud vendors can upgrade their systems economically because of the single source codes and multi-tenancy features. This increases an organization’s capabilities as the upgrades are done automatically by the vendors.
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