New trends in ERP systems and their impacts in the market

Enterprise Resource Planning (ERP) software which is a part of enterprise information systems, integrates all the branches of organizations and the external liaisons like suppliers, business partners and customers and facilitates the business processes, gathering data and managing all these data through one business software tool that provides interoperability, transparency, collaboration, reduced time to perform business processes and operations, cost savings, systematic management thinking, real-time decision-making system, better performance and efficient results. ERP system is the IT backbone of enterprises all around the world. It connects manufacturing, warehousing, finance, human resource, sales etc. in order to run analytics, materials planning, customer service and more critical operations, achieve the optimal allocation of resources within the enterprise and to improve production efficiency and market responsiveness. ERP solutions have been developed with operational excellence (ERP), innovation (ERP ii), and customer focus (ERP iii) in time. The aim of this work is to research what are the latest ERP trends and how they influence the ERP solutions, organizations, suppliers, business parents, customers and the ERP market