ERP Investments in the US:
A survey of Chief Information Officers (CIOs) carried out in 2006 in the US has revealed certain high priority areas for investments. The three significant areas were found to be that of hardware upgradation, optimization of ERP systems, and improvement of security and reliability. Figure indicates the number of companies that have opted for various areas of investments.
The investments in the area of ERP can be studied under three heads - industry specific extensions, business intelligence, and general ERP upgradations. These are discussed here.
Industry-specific Extensions
A majority of companies in the US whose annual revenues exceed US$ 1 billion are already through with the process of implementing the basic elements of ERP software. The basic form of ERP implementation helps organizations in general to manage materials, key operating processes and generate finance-related details. The focus now is on working on extensions to these systems as they will enhance the productivity of the operating processes. Retailers are making a considerable investment in these ERP extensions. They are investing in applications that will aid managers in increasing sales by providing information as to when and by how much to mark down prices.
Business Intelligence
By and large, most companies have also invested in business intelligence tools. In 2006, Gartner Inc., commissioned a survey of 1400 CIOs across the globe. The survey found that Business Intelligence (BI) software was the number one technology priority. The CIOs expected BI investments to increase by an average of 4.8 % in 2006. ERP investments occupy a significant portion of the IT budget. These transactional systems help in managing daily routine activities efficiently. The use of BI software specifically designed for use in tandem with transactional systems would prove highly beneficial. Such software can be grouped under Application BI tools. These tools help the organizations in data extraction, maintaining up-to date information, and increase ease in usage by the business users.
Data extraction: One of the biggest advantages that application BI tools provide is the extraction of data from transactional systems like ERP and CRM. Contrary to a general BI suite data schema, application programming interfaces, security mechanisms, and the business logic of the transactional systems are all preconfigured in the Application BI suite. Such a configuration helps in enhancing the speed of data extraction from transactional systems.
Maintenance of up-to-date information: Application BI tools also guarantee that information is up-to-date. Changes in the transactional systems are automatically identified by the Application BI tools and conveyed to the BI metadata and reports.
Simplicity for business users: Going through data from various relational databases demands technical skill. Also the time spent in the process is an issue of concern for the business user. Addressing this problem are the preconfigured report templates and self-service capabilities. These ensure satisfaction among users. Some of the well-known Application BI tools vendors are Oracle, SAP, Siebel, and PeopleSoft.
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