ERP is used across multiple industries such as manufacturing, health care, education, agriculture, non-profit, hospitality, and so many more. The global enterprise resource planning software market was forecast to grow at a five-year CAGR of 7% to reach $44 billion in 2022.
Markets and Markets predict the total cloud-based market could reach $832.1 billion by 2025.
ERP is not going away; however, it will evolve, and cloud-based software is considered a better choice for businesses looking for an ERP system. If you’re looking to stay updated with an ERP, open-source is the answer now and will continue to be the answer as the technology progresses. Here are five good reasons to implement an open-source ERP in 2022.
Your Company is Unique
Suppose every business and every function within that business is unique, and that level of variation is now and will continue to be the norm. How can a standard ERP be beneficial to any business? It can’t. Business is not one size fits all. Most places have to change the standard ERP once they’ve been onboarded. Open-source ERP can be altered to suit the unique demands of your business. And those changes can continue as your business grows and evolves.
Open-source means you’ll have full access to the source code, which you can then adjust to suit your specific needs and growth without restrictions. That’s an important phrase, growth without restrictions. A significant restriction you’ll face with a standard ERP is time. The time to rework the system, the time to contact the provider and hash out the specifications that you need to be changed in the ERP to suit your business. With open-source, you have the code, and you make the adjustments you need on your timeline without any restrictions.
With open-source, you can change, modify, and innovate with ease. To be a contender, every system your business uses has got to be tailor-fitted. It has to function for your unique business and fit your specific needs. This particular function happens with an open-source ERP. As your business grows and evolves, your ERP will keep up and evolve along with it. There’s no need for a new ERP system, new software, or more money; an open-source ERP innovates with your needs.
You’ll get real support and insight from the open-source community. With a standard ERP, you can spend hours, even days, trying to get tech support to help you, and even when they do, their knowledge is often general, almost theoretical. With the open-source community, you deal with developers who are using the ERP in the real world and have practical experience across a wide range of industries who can address an expansive list of questions and problems. The ERP community forums are a font of information and ideas. These forums provide discussions, feedback, industry news on ERP technologies, and much more. The support of the open-source ERP community is priceless.
This may seem repetitious, but it’s so important that it bears repeating. A true open-source ERP will help your company grow, and it will grow with you. As your company’s requirements grow and evolve, an open-source ERP can increase capacity in all areas of your business. This allows you to start integrating it with other platforms, include more complex features, run advanced reports, and so much more. This type of growth potential, flexibility, and scalability are vital to any business looking to stay on top of its game now and into the future.
Just the Beginning
That’s five, just enough to whet your appetite and get you seriously thinking about adopting an open-source ERP for your company. There are more reasons, such as the cost, which is much lower than adopting a standard ERP system.
Also, a benefit of the open-source ERP is you’re not going to have to deal with vendor lock-in. With a standard, commercial ERP, if you decide you need to switch vendors, you can’t do that on your own; the vendor must be involved every step of the way. With an open-source ERP, you can move your data when you want and how you want. The freedom of that is worth the price of admission.
Now is the Time
When you consider an open-source ERP, HotWax Systems and the Apache OFBiz community are among the industry’s most knowledgeable and experienced communities. They have become the standard for open source due to their years of experience. Their community over code tenet makes them unique, informative, and genuinely open to working to help all companies get the most out of the open-source code.
Tech analysts are singing the praises of the open-source ERP and saying you might want to think about it for your company, see if it could work, might fit, and so on. That kind of tentative language belies the strength and opportunities you have with an open-source ERP. There is no ‘might” or ‘maybe’ involved; the open-source community will be the standard, and getting on board now for 2022, is the best choice you can make for your company in the new year.
An open-source ERP is just what your company needs to stay competitive and on top in 2022. Here are five reasons an open-source like Apache OFBiz is the answer.