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Getting on top of ERP could be the key to modernising your business

ERP
(Image credit: Image Credit: Rimini Street)

Businesses are looking to gain market advantage by going for Composable Enterprise Resource Planning (ERP) strategies, a new report from Boomi is saying. 

Polling 1,675 CTOs and enterprise architects for the report, Boomi found that 94 percent are looking to rid themselves of the limitations brought upon them by legacy applications.

A flexible platform helps businesses reconcile modern and legacy applications, Boomi states, claiming that it’s still a “monumental challenge”. Legacy integration requires custom development and coding (something 76 percent of survey respondents invested in), which are both expensive and time-consuming. 

“The typical enterprise has, on average, 850 applications, of which only 30 percent are connected,” said Chris McNabb, CEO of Boomi. “The biggest challenge every business faces today is unifying their increasingly fragmented digital ecosystem so they can create the integrated experiences expected by customers, employees, and partners. Organizations that remove friction through fast, intelligent data discovery and cataloging, pervasive connectivity, process integration, and automating human workflows are the ones best positioned to thrive as we move beyond the pandemic.”

Almost half of the respondents (47 percent) said their current integration solutions can’t meet the demand, with another 42 percent adding that the maintenance costs were simply too high. Another 38 percent said they couldn’t cope with the complex hybrid technology environment.

Despite the challenges, businesses are still moving forward with Composable ERP due to its “vast potential”, including improved customer experience. 

Gartner is also saying integrations are critical for business success, Boomi added. “ERP vendors will have to provide or partner with integration platforms in order to meet customers’ demands for increased integration capabilities,” Gartner wrote. “This is because ERP customers will empower business users to bring together applications and data to build business capabilities for their enterprise. Customers will engage multiple vendors, clouds and services to compose capabilities.”