Enterprise Resource Planning (ERP) systems are at a crossroads, facing challenges from two directions: the unbundling of ERP functions and the rise of industry-specific platforms. Unbundling, or the disintegration of ERP into standalone apps, is driven by the changing needs of businesses and the increasing sophistication of apps. Many companies now prefer to use a suite of best-in-class apps for different functions, rather than a single, monolithic ERP system.
On another front, vertical-specific platforms are emerging, offering tailored solutions for specific industries. These platforms integrate ERP functions with industry-specific software, providing a more comprehensive solution. As a result, traditional ERP providers are forced to compete on two fronts: against standalone apps and vertical-specific platforms.
To survive, ERP providers must adapt by creating more flexible, modular systems that can integrate with other apps and platforms. They must also develop industry-specific solutions to meet the unique needs of different sectors. This transformation will not be easy, but it is necessary for ERP providers to stay relevant in the rapidly evolving business landscape.
Go to source article: https://medium.com/@brendanbaker/erp-at-the-precipice-unbundling-north-to-south-and-east-to-west-dc40328cc8ac