A new report by IDC revealed the market for enterprise resource management (ERM) applications is forecast to experience steady growth over the coming years after expanding by nearly 12 percent in 2011 compared to 2010.
IDC analysts believe 2012 and the years beyond will see conservative but steady growth, increasing by single digits annually.
“In a global economy that continues to offer hopeful signs mixed with uncertainties and elevated downside risk, companies will continue to have a greater need for software and services that help drive down costs, manage risk, improve productivity and identify new opportunities for growth,” IDC research director Scott Guinn said.
The research firm also revealed the heightened consumer awareness will drive the demand to converge ERM software with other customer-facing solutions, especially as social media, mobility and other innovative customer engagement mediums grow in popularity.
As more traditional businesses introduce subscription commerce business models for their online offerings, subscription billing and management platforms will play an increasingly important role and will need to be easy to integrate with their existing ERM systems.