Future of Enterprise Resource Planning:

Globally Small and medium enterprises (SMEs) are a big Count. This big count holds the power to decide the fate of major economical actions and reactions, thus SMEs are widely believed to be the backbone of any economy. Now that we have understood the power of SMEs, we also need to accept the fact that the size of a business doesn’t predict its ability to succeed & sustain, what really matters is its capability to innovate and stay unique. SMEs are well known for excelling at innovation.

We come to know thru many business journals, white papers, and case studies of huge corporations, which set aside a small budget to solve all of their critical problem which in turn adds up to their profit, but on the other hand, SMEs never have any budgets like the big corporation and are known to overcome obstacles on a shoe string investment.Their inability to afford big budgets leads them to acquire info and products which can solve the problems with an entirely new approach.

Some countries have understood the potential of the SMEs and have built an ecosystem to nurture this potential, which in turn will drive their economy. Germany has notability been one country which has build a strong ecosystem to nurture and sustain manufacturing innovation by linking universities, government funded agencies and SME manufacturing units. This ecosystem ensures that the SMEs compete globally to increases revenue and growth .US has been working on similar programs, there are currently three such institutions dedicated for the cause and well funded, the plan in the US is to create 45 such institutions in another 7 years time.

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This innovation and renewed recognitions in SMEs will drive the usage of IT systems and tools that is very much required to support the growth & profitability. ERP is one such Key IT System/tool which is primarily required by any industry with a need to grow and sustain growth.

Along with this renaissance in SMEs there is certainly going to be an increased demand for ERP system specifically designed and developed for SMEs which are easy to learn, operate and integrate. Innovation in SMEs is the key for their success and good for ERP ecosystem and the future of ERP very much lies with SMEs. SAP Business One is a product which has been developed specifically with SMEs in mind and has the capability to solve many issues of the SMEs.