The global ERP market is still growing, and it is expected to reach a total market size of $49.5 billion by 2024. And this growth is also affecting the MENA and GCC regions. For example, the need for ERP in the UAE and Kuwait are increasing. ERP will help with digital transformation in MENA.
When we look at the United Arab Emirates, 94 percent of all companies there are SMEs. This infers that Inventory ERP and supply chain ERP in UAE are the most requested modules by these enterprises. And 50 percent of them are soon acquiring and planning to upgrade to ERP systems. This is not without reason. They have identified better functionality as their primary reason for implementing an ERP system.
But the biggest contribution of ERP is the boost in digital transformation. A lot of organizations still use the traditional file system. And each organization uses its own system, which makes it difficult to share and maintain data. Especially in financial data, financial ERP contributes to big improvements.
ERP saves a lot of time and research has shown that GCC companies have achieved big improvements in HR (human resources) with the new system. HR ERP in UAE increased HR activities by the factor of 240. And in overall modules and all tasks, an average improvement of 20-times faster completion was achieved. Another effect of these digitization efforts is creating a “paperless” environment that saves money and helps the environment.