Smart Manufacturing Market Size, Share & Trends Analysis Report By Component, By Technology (Product Lifecycle Management, 3D Printing, Enterprise Resource Planning, Discrete Control Systems), By End Use, And Segment Forecasts, 2021 – 2028
San Francisco, March 07, 2022 (GLOBE NEWSWIRE) — The global smart manufacturing market size is estimated to reach USD 589.98 billion by 2028, registering a CAGR of 12.4% from 2021 to 2028, according to a new study by Grand View Research, Inc. Increasing adoption of technologies, including big data analytics, smart robots, and industrial IoT, in manufacturing facilities is a key factor propelling the market growth. Additionally, small and medium enterprises are increasingly integrating plant asset management, Manufacturing Execution Systems (MES), and 3D printing solutions, accelerating the market growth.
Key Insights & Findings from the report:
A shift from operational technologies to effective artificial intelligence and data analytics is expected to emerge as a major market trend.
Internet of things has gained popularity in the global manufacturing sector owing to benefits such as reduced operational costs and increased efficiency and productivity.
The integration of hardware and software is expected to be the prime focus of solution providers. Unified design architecture and cyber-physical systems are expected to witness high demand in the market.
Developed economies are supporting digitalization to reintroduce industrialization into their turf while developing countries are making investments in smart technologies to comply with international manufacturing standards and trends.
Get Free Sample of this market research report, “Smart Manufacturing Market Size, Share & Trends Analysis Report By Component, By Technology (Product Lifecycle Management, 3D Printing, Enterprise Resource Planning, Discrete Control Systems), By End Use, And Segment Forecasts, 2021 – 2028”, published by Grand View Research.
Smart Manufacturing Market Growth & Trends
Governments across the globe are increasingly investing and promoting smart manufacturing initiatives. Both developed and developing economies are aggressively embracing this avenue, contributing to market growth. For instance, under the Made in China 2025 program, the government of China is reportedly investing approximately USD 3 billion. Similarly, the Indian government is promoting smart manufacturing with the SAMARTH – Udyog Bharat 4.0 initiative to transform the manufacturing sector.
Automotive and aerospace and defence are the leading revenue-generating end-use verticals while oil and gas and industrial equipment are anticipated to scale up the digitization efforts rapidly. The advent of 3D printing, modeling, and simulation in the manufacturing process has significantly propelled the market growth. Furthermore, the market participants are entering into strategic partnerships to offer improved end products. For instance, General Motors (GM), an automobile manufacturer, partnered with Autodesk Inc. to manufacture lighter vehicle parts using 3D printing technology.
Smart Manufacturing Market Segmentation
Grand View Research has segmented the global smart manufacturing market based on component, technology, end use, and region:
Smart Manufacturing Component Outlook (Revenue, USD Billion, 2016 – 2028)
Hardware
Software
Services
Smart Manufacturing Technology Outlook (Revenue, USD Billion, 2016 – 2028)
Machine Execution Systems
Programmable Logic Controller
Enterprise Resource Planning
SCADA
Discrete Control Systems
Human Machine Interface
Machine Vision
3D Printing
Product Lifecycle Management
Plant Asset Management
Smart Manufacturing End-use Outlook (Revenue, USD Billion, 2016 – 2028)
Automotive
Aerospace & Defense
Chemicals & Materials
Healthcare
Industrial Equipment
Electronics
Food & Agriculture
Oil & Gas
Others
Smart Manufacturing Regional Outlook (Revenue, USD Billion, 2016 – 2028)
North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
MEA
List of Key Players of the Smart Manufacturing Market
Siemens
General Electric
Rockwell Automation, Inc.
Schneider Electric
Honeywell International Inc.
Emerson Electric
Fanuc
Check out more related studies published by Grand View Research:
3D Printing Market – The global 3D printing market size is estimated to reach USD 62.79 billion by 2028, according to the new report by Grand View Research, Inc. The market is expected to witness a CAGR of 21.0% from 2021 to 2028. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.
Product Lifecycle Management Market – The global product lifecycle management market size is expected to reach USD 43.64 billion by 2028, registering a CAGR of 7.2% from 2021 to 2028, according to a new study by Grand View Research, Inc. The growing need to support complex functionalities, the unabated establishment of smart factories and rollout of smart value chains, and the continued integration of the Internet of Things (IoT) with PLM solutions are some of the main drivers that are expected to drive the growth of the market over the forecast period. Advances in the latest technologies, such as cloud computing and IoT, and the continued rollout of high-speed data networks are expected to contribute to the growth of the market. The aggressive investments being made by the market players in product innovation to deliver the next generation of interoperability and integration capabilities also bode well for the growth of the market.
North America Digital Transformation in Manufacturing Market – The North America digital transformation in manufacturing market size is expected to reach USD 25.70 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 17.2% during the forecast period. The manufacturing industry is inclined towards deploying digital manufacturing solutions that offer greater efficiency and productivity and minimize manufacturing costs.
Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
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Open source has become a major force in the world of IT, and today a startup that has built a profitable operation by developing business management software on the principle is announcing a sizable secondary investment on the back of that growth.
Odoo — a Belgium-based provider of open-source-based business software that ranges from inventory management and ERP to human resources and CRM software, marketing tools and more, some 30,000 in all — has received $215 million from Summit Partners.
This is a secondary investment, meaning Summit is buying shares from existing investors (specifically Sofinnova Partners and XAnge). Odoo is profitable and has been so for years, CEO and founder Fabien Pinckaers explained in an interview earlier, and so it didn’t need to raise more cash by giving away more equity. He added that this investment values the startup at over €2 billion (or over $2.3 billion at current rates), making Odoo the first unicorn out of Wallonia, the region in Belgium where it is based. That in itself is notable; it’s a sign of the evolving decentralization of the tech world beyond Silicon Valley.
This is the second time Summit, which was one of Odoo’s earliest (equity) backers, has snapped up secondary shares. The firm made a similar investment of $90 million in 2019.
With 7 million users on its platform, Odoo is a prime example of the strong payoffs to be had from economies of scale in the most successful open-source projects, but it’s also doing so with a twist.
On the open-source front, Odoo provides a version of its services that is “open source” and free, which Pinckaers said contains about 80% of all of its features. It then offers a paid, proprietary version of the product with the remaining 20% of features (full details on pricing here).
About 90% of Odoo’s customer base takes the free tier, he said, with only 10% taking the paid, proprietary tier. But with 7 million users, that is enough to run the business at a profit big enough that it can continue investing in growth without giving away more equity.
What is also notable is how Odoo pitches itself. While a lot of open source has been seen as the domain of developers and others in the technical community, Odoo designs software on its platform that is actually aimed at others in the workplace, not engineers.
“We are one of the only exceptions of open source built for nontechnical users,” Pinckaers said.
It targets users both directly via its SaaS platform and via an extensive channel partner operation, where channel partners will host the services themselves. Its traction with these partners is strong, he added, because of the free nature of Odoo (which is not only a contrast to the SAPs, Microsofts and Oracles of the world, but at times a much easier sell around which a channel partner can provide other paid services). There are nearly 4,000 partners now, he added, with another 90,000 individual community members contributing software on the Odoo platform.
The company has been growing revenues and customers at a rate of 50% over the last 10 years (and 63% over the past 15 — it’s been around since 2005), and it now has 1,700 employees with plans to add another 1,000 this year. Billings are expected to be €160 million in 2021. Pinckaers said that Odoo’s next steps will be to continue growing the software that it provides to users on its platform. Specifically, it is focusing on e-commerce and website development, he said, two areas that he feels could benefit from more nontechnical, user-friendly open-source tools.
“We are thrilled to support the Odoo team for this next phase of growth,” Han Sikkens, managing director and head of Europe at Summit Partners, said in a statement. “We believe the future is bright, and Odoo clearly has the potential to disrupt the market led by software giants like SAP, MS Dynamics and Oracle.” Sikkens is joining the board with this round.

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Odoo raised $90 million, but for what? –  Enterprise Times
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DUBAI, UAE, April 20, 2021 /PRNewswire/ — Odoo, a leader in open source all-in-one business software, announced that they have grown their Middle East office exponentially in the past year, despite the pandemic. In fall of 2018, two people from Odoo’s headquarter team in Belgium landed in Dubai as part of their commitment to expand in the region, and grow the company’s presence in the Middle East. Fast forward to today, Odoo Middle East DMCC celebrates reaching their 140th employee mark, further supporting the brand’s rapid product development pace and continued regional expansion, with plans to reach 200+ employees in their office by the end of 2021.
When Covid-19 hit the world in the beginning of 2020, many organizations and employees braced themselves during the unprecedented times. Odoo, leaning on its own software, continued to run their business, grasping market opportunities, and assisting their regional clients and partners to grow their own businesses. Optimal strategies taken up by Odoo, allowed the office to grow both in number of staff as well as clients. Currently supporting 600,000+ users in the Middle East with its business applications, including renowned companies such as PepsiCo, KFC, Geely Auto Group, MoTeC Middle East, STRATA, and Morgan International. Odoo’s unique value proposition is for its Apps to be user-friendly and fully integrated. Working with their expanding partner network, that despite the challenges posed by the pandemic grew by over 40% to 430+ partners in the region, has helped form new streams of revenue for companies hit by COVID-19. 
With more than 5 million users worldwide, Odoo’s solutions are designed to support businesses of all sizes, with a flexible suite of Apps to run and manage all aspects of a business. Odoo’s functionality encompasses traditional ERP, including accounting, stock, and CRM, as well as broader business needs such as project management, marketing, human resources, website, eCommerce, and more. With a modular approach, Odoo provides affordable and easy-to-use software that scales with business needs as a company grows.
Odoo operates with an open core business model, a model based on community, knowledge sharing, and transparency. While traditional ERP is expensive and frequently fails to adapt to the unique needs of a business, Odoo focused on listening to the companies they help serve. Providing solutions that fit the businesses in the Middle East, helping them bridge the gap between different departments.
With revenue growth consistently above 50% over the last ten years, Odoo is a leading technology success story, operating international offices in Belgium, Luxembourg, USA, India, Mexico, Hong Kong, and Dubai, simplifying the way businesses operate globally. With its flexible suite of applications and a relentless focus on product, Odoo is ideally positioned to capture a compelling market opportunity, recruit top talent for their regional headquarter, and provide the necessary tools for regional companies to run their businesses successfully.
About Odoo
Odoo is a leading provider of all-in-one open source business software for companies worldwide ranging from startups (1 user) to large enterprises (300,000+ users). Founded in 2005, Odoo thrives in a unique and fully open ecosystem combining the resources of its community and partners to deliver a full range of easy-to-use, integrated, and scalable business applications. The software is available online on www.odoo.com
SOURCE Odoo Middle East DMCC
https://www.odoo.com/

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How to install the Odoo ERP/CRM platform on Ubuntu Server 20.04
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Adding an ERP/CRM solution to your company workflow can make a huge difference in productivity. Jack Wallen shows you how to deploy the open-source Odoo system to fill this void.
Odoo was once known as Open ERP and TinyERP and served as a complete Enterprise Resource Planning and Customer Relationship Management solution in one powerful, open-source package. Odoo includes all of the features you require for ERP/CRM, such as:
Odoo can be used for retail, services, operations, finance, marketing, development, and more and is scalable and extendable (with thousands of installable apps).
I want to walk you through the installation of Odoo on my go-to server of choice, Ubuntu Server 20.04.
SEE: 40+ open source and Linux terms you need to know (TechRepublic Premium)
The only things you’ll need to make this work are a running instance of Ubuntu Server 20.04 and a user with sudo privileges. That’s it, let’s get to work.
The first thing we’re going to do is install the necessary dependencies. Log into your server and install these packages with:
sudo apt-get install git python3-pip build-essential wget python3-dev python3-venv python3-wheel libxslt-dev libzip-dev libldap2-dev libsasl2-dev python3-setuptools node-less postgresql -y
We need to create a Linux user and a PostgreSQL user. First, create the Linux user with the command:
sudo useradd -m -d /opt/odoo -U -r -s /bin/bash odoo
Next, create the PostgreSQL user with:
sudo su - postgres -c "createuser -s odoo"
We’re now ready to install the system itself. Change to the odoo user with the command:
sudo su - odoo
Next, use git to clone the latest branch of Odoo (at the time of this writing, it’s 15):
git clone https://www.github.com/odoo/odoo --depth 1 --branch 15.0 /opt/odoo/odoo15
Change into the newly created directory with:
cd /opt/odoo
Create a new virtual Python environment with:
python3 -m venv odoo15-venv
Activate the new environment with the command:
source odoo15-venv/bin/activate
Install the required Python modules with the following commands:
pip3 install wheel
pip3 install -r odoo15/requirements.txt
The second command above will take anywhere from 5-10 minutes to complete, so either watch the output fly by or go take care of another admin task. Once the commands are finished, deactivate the environment and exit from the odoo user with:
deactivate
exit
To enable the Odoo add-on system, we need to create a directory to house the downloaded files. Create the directory and give it the necessary permissions with:
sudo mkdir /opt/odoo/odoo15-custom-addons
sudo chown odoo: /opt/odoo/odoo15-custom-addons
Copy the default configuration file into /etc with the command:
sudo cp /opt/odoo/odoo15/debian/odoo.conf /etc/odoo15.conf
Open the config file for editing with:
sudo nano /etc/odoo15.conf
Edit that file so it looks like the following:
[options]
; This is the password that allows database operations:
admin_passwd = PASSWORD
db_host = False
db_port = False
db_user = odoo
db_password = False
addons_path = /opt/odoo/odoo15/addons
Where PASSWORD is a strong/unique password.
Save and close the file.
We now must create a systemd service file with:
sudo nano /etc/systemd/system/odoo15.service
 </codeIn that file, paste the following:
[Unit]
Description=Odoo15
Requires=postgresql.service
After=network.target postgresql.service
 
[Service]
Type=simple
SyslogIdentifier=odoo15
PermissionsStartOnly=true
User=odoo
Group=odoo
ExecStart=/opt/odoo/odoo15-venv/bin/python3 /opt/odoo/odoo15/odoo-bin -c /etc/odoo15.conf
StandardOutput=journal+console
 
[Install]
WantedBy=multi-user.target
Save and close the file. Reload the systemd daemon with:
sudo systemctl daemon-reload
Start and enable the Odoo service with:
sudo systemctl enable --now odoo15
Odoo is now installed and running on your server. Open a web browser and point it to http://SERVER:8069 (Where SERVER is either the IP address or domain of the hosting server). You will be prompted to fill out information for the creation of a new database (Figure A).
Figure A
Make sure you copy down the random password generated for the database (or opt to use your own password). You might want to also check the box for Demo data (especially if this is your first time using Odoo).
Click Create database and the installation will complete. When it’s finished, you’ll find yourself on the Odoo Apps page (Figure B), where you can begin selecting the apps you want to install to complete your new CRM/ERP solution.
Figure B
One of the first things you’ll want to do is edit the default admin user, which is listed as Mitchel Admin and includes a random photo. To do this, click on the four squares icon in the top left and click Settings. In the resulting window (Figure C), click Manage users.
Figure C
Click on the Mitchel Admin listing and then click Edit. You can now change the name of the admin user, add a photo, and manage the access rights, preferences, and security for the account (Figure D).
Figure D
Congratulations, you have a running CRM/ERP tool that can be expanded to fill many roles for your company.
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How to install the Odoo ERP/CRM platform on Ubuntu Server 20.04
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SaaS ERP software appeals to many companies because of the perceived reduction in support costs. However, some organizations considering SaaS ERP may find a system isn’t a perfect fit and begin looking into customization. Company leaders should be aware of customization’s advantages and disadvantages before embarking on it.
One of SaaS ERP software’s biggest benefits is that it’s generally ready for use once an organization selects it. Some software may require some basic configurations up front, but organizations can generally use it out of the box, and it can support companies that specialize in manufacturing, retail, accounting and other areas. However, some organizations may opt to customize their platform to add needed support for additional data elements and automations. 
Here’s what to consider when deciding on SaaS ERP customization vs. out of the box.
Organizations looking to minimize their ERP costs should likely use SaaS ERP out of the box. Doing so can also increase platform adoption speed, as the company won’t need to wait for the system customization.
In addition, the organization can use the SaaS ERP vendor’s training material and videos without needing to modify them, since the company is adopting the system as is. That will also improve turnaround time for adoption and user training.
However, the lack of customization means companies may need to redesign their unique business processes around their SaaS ERP.
Some companies decide that the out-of-the-box SaaS ERP system is insufficient for their business needs and move forward with customization. Customization involves developing additional integrations, tools and reports or making some system changes. For example, a manufacturer may decide to customize some of their SaaS ERP inventory forms to provide support for additional custom fields that track specific items such as allergens, unit of measure or expiration date.
However, one disadvantage of customizing SaaS ERP is the process length. In addition, when the ERP vendor releases new updates, the updates may conflict with a company’s custom code. When ERP vendors release new software versions, third-party integrators must often scramble to test their code and functionality with the newer versions. While this usually happens over a long period of time, allowing users and vendors to test and upgrade their code, application errors and crashes can occur due to unsupported code.
Companies considering SaaS ERP customization should also look into the costs of code changes. Code changes generally require integration vendors that develop and support the customization.
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Vodafone, the U.K.’s telcommunications giant, has upgraded its recruiting tech with automation that will analyze resumes and CVs …
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For decades, traditional ERP systems have enabled enterprises to run core business processes on a single platform that delivered stability, reliability, and dependability. But the monolithic, on-premises ERP has since become an outdated approach.
Today, companies embracing digital transformation seek the flexibility, agility, speed, and remote access to applications that comes with cloud-based systems. And they are looking ahead to what Gartner calls “composable” ERP, an approach based on the concept of running apps on highly configurable, interoperable, and flexible software platforms.
In putting together our list of the 10 most powerful ERP vendors, we took the size of the vendor into account, but also evaluated vendors on their cloud strategy and how their vision for the future of ERP is shaping the market. The inclusion of vendors not traditionally thought of as ERP powerhouses underscores how the cloud and evolving digital strategies are blurring traditional enterprise software category lines and reshaping the battle for enterprise dollars.
Why they’re here: Oracle sits at No. 2 in market share but is aggressively coming after market leader SAP with two cloud-native offerings. Oracle NetSuite ERP, the result of Oracle’s purchase of NetSuite in 2016, is targeted mostly at midrange businesses. Oracle Fusion Cloud ERP, built by Oracle from the ground up, is a broad platform that can accommodate the largest global enterprise. Gartner puts Fusion Cloud ERP in the top leadership position in its latest Magic Quadrant for product-centric ERP.
Power moves: In late 2021, Oracle announced its biggest acquisition ever, the $28.3 billion purchase of electronic healthcare records company Cerner Corp. The move gives Oracle a major foothold in the fast-growing healthcare industry.
By the numbers: Oracle’s annual cloud ERP revenue is roughly $5 billion. Chairman and CTO Larry Ellison predicts it could hit $20 billion in five years.
Outlook: Oracle’s ERP business is a bright spot for the company. When earnings were announced in December, CEO Safra Catz said, “We now have 8,500 Fusion ERP customers with revenue growing 35% and 28,400 NetSuite ERP customers with revenue growing 29%.” Ellison noted that Oracle is not only winning new customers but still has a captive audience of 6,500 on-prem legacy ERP customers (from its acquisitions of JD Edwards and PeopleSoft) that it plans to transition to the cloud.
Why they’re here: German juggernaut SAP is the runaway market leader with annual revenue approaching $30 billion. But most of SAP’s massive installed base is still running on-premises ERP. The challenge facing SAP is how to compete against the upstart cloud-only ERP vendors and convince S4/HANA customers not to jump ship, but to jump to the SAP cloud.
Power moves: In late January, SAP bought a majority stake in privately held US fintech firm Taulia. The move will help SAP expand its presence in supply chain financing.
By the numbers: 74: The number of acquisitions SAP has made over the years.  
Outlook: Says Nucleus Research analyst Trevor White, “While slower than others to embrace the cloud, SAP has now committed to the cloud’s future, providing a clear and modern roadmap for enterprise clients.” SAP recently launched a program called Rise, which helps customers with their cloud migration and digital transformation efforts. Those efforts seem to be paying off. SAP’s cloud revenue rose around 25% and CEO Christian Klein predicts that by 2025, SAP will have $25 billion in cloud revenue.
Why they’re here: Microsoft has become an ERP powerhouse with its broad line of Dynamics products targeted mostly at small to midsize businesses, and available in on-prem or cloud iterations. The obvious advantage that Microsoft has is its ability to integrate ERP business processes with other productivity tools in the Microsoft arsenal, such as Office, Teams, Outlook, Power BI, the SQL Server database, and, of course, the powerful analytics available in the Azure cloud.
Power moves: Microsoft recently purchased Orions Systems, a leader in the real-time analysis of video and image content. The technology enables Microsoft to expand the capabilities of Dynamics 365 for brick-and-mortar retailers.
By the numbers: Dynamics revenue grew 29% year-over-year, while Dynamics 365 (cloud-based) revenue jumped 45%, according to the company’s latest earnings report.
Outlook: The immediate effects of the pandemic — the shift to remote work, the migration of business apps to the cloud, the increased need for collaboration tools — played right into Microsoft’s strengths. The longer-term impact of the pandemic has been for organizations to rethink their business processes, which again plays into Microsoft’s ability to take basic ERP and add collaboration, data visualization, and AI.
Why they’re here: Workday started out as a SaaS-based Human Capital Management (HCM) application, but the company has filled out its portfolio to include financial management and enterprise planning primarily for service-based rather than product-based organizations. Workday execs like to talk about killing off the term “ERP” altogether and replacing it with “enterprise management cloud.”
Power moves: In 2021, Workday bought VNDLY, a company that helps organizations manage contractors and other third parties.
By the numbers: $510 million: The amount Workday spent to buy VINDLY.
Outlook: Workday doesn’t have the broad, industry-specific sets of ERP modules that the legacy vendors can offer, particularly in areas such as supply chain and manufacturing. But it has positioned itself as a powerful challenger looking to shake up the staid world of ERP with a cloud-only, best-of-breed alternative in the areas of financials, HR, payroll, and planning. Workday’s revenue has been growing at a steady 25% clip and annual revenue tops $4 billion.
Why they’re here: Sometimes viewed as the low-cost alternative to Oracle and SAP, the Sage Group is hoping to kickstart revenue growth after treading water at around $2.5 billion over the past few years. The company has built out its own cloud platform and is expanding its product lines beyond accounting and payroll for small businesses, where Gartner rates Sage Intacct a visionary. Under the Sage X3 brand, the company is moving to supply chain management, manufacturing, and sales.
Power moves: In late 2021, Sage bought Brightpearl, which features both ERP and CRM software specifically for retailers.
By the numbers: $300 million. The amount Sage paid for Brightpearl.
Outlook: Sage is taking an aggressive approach to growth. CEO Steve Hare says, “Having re-shaped and invested significantly in the group over the last three years, we are now focused on growing the business in absolute terms, both organically and through acquisitions.”
Why they’re here: With annual revenue north of $3 billion and a market share in the 5-6% range, Infor is in the top tier of ERP vendors. It offers the full breadth of ERP offerings across industries and, as a legacy vendor, has made the transition to cloud. Infor differentiates itself with industry-specific ERP modules and a multi-tenant cloud platform hosted on AWS. Infor’s CloudSuites is rated as a leader by Gartner in the category of ERP for product-centric enterprises.
Power moves: In 2020, Infor was purchased by Koch Industries, and is now a subsidiary of the $110 billion conglomerate.
By the numbers: $13 billion: The amount of money Koch Industries paid for Infor.
Outlook: Koch Industries was both a customer of Infor and an investor prior to the acquisition. The assumption is that Koch was impressed with what it saw and believed that with an infusion of capital, it could push Infor to new heights. Koch Executive Vice President and CEO of Enterprises Jim Hannan put it this way, “Koch has the resources, knowledge, and relationships to help Infor continue to expand its transformative capabilities.”
Why they’re here: Epicor’s Kinetic cloud ERP platform is listed as a visionary in Gartner’s latest evaluation of ERP vendors. Gartner says Kinetic “delivers a solid operational ERP solution for midmarket manufacturing and distribution companies, along with adjacent capabilities for demand planning, inventory and warehouse management.”
Power moves: In January, Epicor bought JMO Business Systems, a leader in warehouse management and enterprise mobility solutions for the automotive industry.
By the numbers: $4.8 billion: The amount that Clayton, Dubilier & Rice (CD&R) paid to acquire Epicor in 2020.
Outlook: Somewhat similar to Infor, Epicor’s acquisition by a large, private equity firm is expected to bring an infusion of funds for acquisitions, as well as drive the transition from on-prem to a SaaS model for its longstanding customer base. At a recent event, company officials painted a bullish picture, with revenue approaching $1 billion on double-digit growth, and SaaS delivering half of recurring revenue.
Why they’re here: Cloud-based IT services leader ServiceNow is not a traditional ERP vendor and certainly doesn’t have the deep industry-specific knowledge of the legacy players. But ServiceNow comes at ERP from a different perspective; its Now Platform enables companies to connect digital workflows and optimize business processes across IT, employees, customers, and application creators. Gartner rates ServiceNow as a leader in cloud-native, low-code application platforms.
Power moves: Bought ERP migration company Gekkobrain. The move will help organizations identify and understand the custom code in their ERP apps and automate the modernization of ERP apps and resulting workflows.
By the numbers: ServiceNow reported 30% growth in 2021, with total revenue approaching $6 billion.
Outlook: Industry analyst Josh Bersin says ServiceNow is tapping into a market that goes beyond traditional ERP into what he calls content creator platforms. “Every HR team, every manager, and every IT department wants to build a new workflow or design a new process.” He adds, “They’re going to ServiceNow to do so.”
Why they’re here: Gartner ranks QAD as a visionary in the category of manufacturing and supply chain management for midsize manufacturers with its cloud-based QAD Adaptive ERP suite. QAD is another company that’s blurring the lines between ERP and CRM. It recently purchased WebJaguar, a digital commerce platform, with the goal of creating an omnichannel customer management solution for both B2B and B2C.
Power moves: QAD was taken private by Thoma Bravo in 2021.
By the numbers: $2 billion. The amount Thoma Bravo paid for QAD.
Outlook: Thoma Bravo has a long and successful history of acquiring software companies, injecting capital and providing management expertise. QAD founder and president Pamela Lopker says, “Through this partnership, we will be even better positioned to build on our strong foundation.”
Why they’re here: Salesforce is the unquestioned power player in CRM. And it has invaded the ERP market with a unique strategy. Salesforce built a powerful cloud platform on which to run CRM applications (SaaS) and to write applications (PaaS). Then, it opened up its platform to enable third-party companies offer ERP solutions. Rootstock offers manufacturing, distribution, and supply chain ERP on the Salesforce Cloud. And FinancialForce delivers finance and accounting on the Salesforce platform.
Power moves: Salesforce snapped up the popular collaboration tool Slack in 2021.
By the numbers: $27.7 billion: What Salesforce paid for Slack.
Outlook: Salesforce is a force to be reckoned with. It is making the very persuasive pitch that since a company’s core business data is already stored on the Salesforce cloud, it only makes sense to run integrated ERP apps on that same platform.
Neal Weinberg is a freelance technology writer and editor. He can be reached at neal@misterwrite.net.
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Commercial Bank of Ethiopia (CBE) adopted International Financial Reporting Standards (IFRS). The bank managed to do this a year ahead of the time period National Bank of Ethiopia set for the banks.
The bank’s President, Bekalu Zeleke, took delivery of the report conducted by KPMG, a foreign consulting firm. Brian D’souza, a partner at KPMG for East Africa, delivered the report at the Bank`s headquarters on Churchill Road, in the presence of Atkilit Kidanemariam, vice president for Finance & Accounting at CBE.
It took the consulting company almost a year to complete the task and delivery the report.
It was back in 2014 that the legislature adopted a financial proclamation which was followed by the establishment of Accounting & Audit Board of Ethiopia (AABE). The Board, comprising of 12 members under the chairmanship of Abraham Tekeste (PhD), minister of Finance & Economic Cooperation (MoFEC), is mandated to transform the financial reporting system in the nation`s firms.
Source: Fortune
© 2009-2013 2merkato.com.

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CIOs should expect to see nimbler, more flexible, more open ERP systems in 2022.
Industry experts also expect ERP trends to include more best-of-breed applications and less monolithic ERP systems, with customers having more ability to pick and choose the applications in the ERP landscape.
Major ERP vendors — SAP, Oracle, Microsoft, Infor and IFS — will continue to dominate the market for large enterprises, but smaller, nimbler ERP vendors, particularly those that are cloud-native, will offer innovation and industry-specific applications.
Traditional vendors will likely to struggle to maintain traction with the current customer landscape, while vendors that offer flexible and with open architectures are poised to excel in 2022, according to Eric Kimberling, CEO and founder of Third Stage Consulting, an independent ERP industry consulting firm in Lone Tree, Colo.
Open source systems like Odoo, which offer flexible customization at a lower cost than ERP giants, best-of-breed applications like Workday and Salesforce, and open cloud architectures like Oracle and Microsoft are going to thrive, Kimberling said.
“Bigger and more cumbersome [systems] like SAP S/4HANA may find it difficult to resonate in this new reality, while vendors focused on the SMB space, like [Oracle] NetSuite, will likely benefit in the post-pandemic world,” he said.
Industry specificity is an ERP trend that will continue into 2022, driven by industry heavyweights like SAP, Oracle, Infor and IFS, as well as smaller vendors like Acumatica and Unit4, according to Joshua Greenbaum, principal at Enterprise Applications Consulting, an ERP industry analysis firm in Berkeley, Calif.
All ERP vendors are facing the complex task of threading the needle between the fit-to-standard characteristics of SaaS ERP systems and simultaneously providing deep functionality for specific industries, Greenbaum said.
“This is something that customers really want and that’s why all these vendors have their industry clouds and companies like Unit4 are focusing on their core customer offerings in their core industries,” he said. “It’s becoming a real important part of the maturation of enterprise software in the cloud.”
Multi-tenant SaaS ERP vendors with strong industry vertical focus will do well in 2022, said Predrag Jakovljevic, principal industry analyst at Technology Evaluation Centers, an enterprise computing analysis firm in Longueuil, Quebec.
That list includes both cloud-native ERP vendors like Oracle NetSuite, Acumatica and Rootstock, as well as vendors that have redeployed their legacy systems for the cloud, like Microsoft with Microsoft Dynamics, Epicor, IFS, QAD, Unit4, Syspro and Sage Intacct.
ERP vendors that have specialized functionality should do well, Jakovljevic said. He pointed to IFS with its asset and field service management and QAD, which added sourcing and e-commerce functionality into its manufacturing-oriented ERP systems.
“The ones who will struggle are those with no vertical savvy and no easy migrations from legacy to the cloud,” he said.
ERP systems will also continue to move away from a monolithic structure to one where customers can pick and choose what they want to include, according to Greenbaum.
Sometimes referred to as composable ERP, the plug-and-play approach includes elements of edge computing. It is attractive to customers caught between wanting to accelerate a digital transformation of their ERP core and needing to upgrade the on-premises back-end ERP, Greenbaum said.
“More customers are demanding — and more vendors are providing — a blending of the two, so you can actually [modernize] pieces of the ERP… and use that to provide better user experiences on the front end,” he said. “Composability is absolutely breaking these big monoliths down a little bit, so you can get the things you want without having to upgrade the entire supertanker.”
Composable ERP and industry specificity are two markers of an increasing trend toward the cloud and digital transformation, said Mickey North Rizza, program vice president for enterprise applications and digital commerce at IDC.
Most large enterprises with monolithic ERP systems are slowly untangling the web of customizations to understand what they need from more modern and intelligent ERP systems, Rizza said.
These organizations are looking to future-proof their enterprise systems by bringing in more insights to processes across finance, HR, procurement, manufacturing and supply chain, she said.
“These organizations understand they need simple, easy-to-use standardized products that can be configured to meet their needs,” Rizza said. “They know they need their employees to be able use the systems anywhere, anytime and in any place. “
The sheer number of ERP applications available today combined with the high availability of investment capital will likely lead to more consolidation of the ERP market, said Shawn Windle, founder and managing principal of ERP Advisors Group, an enterprise industry consulting firm in Lakewood, Colo.
Although it’s difficult to say which ERP vendors will be buyers and which will be targets, Windle expects that small to midsize vendors with good name recognition and growing market share will be likely targets for acquisition.
“There are simply too many competitors for the same dollars,” Windle said. “And with work-from-home in place for the foreseeable future, employees can easily be transitioned.”
Jakovljevic agreed that ERP acquisitions will be a 2022 trend; the bigger question is how. For example, Infor may continue to be active after divesting its enterprise asset management (EAM) business to Hexagon and acquiring management execution systems (MES) vendor Lighthouse Systems in 2021. Other vendors have hinted that they will be active in the acquisition game.
“Epicor and Unit4 said that they plan to acquire more [companies], and ECi Software Solutions and Aptean keep on buying niche ERP players,” he said.
ERP vendors will continue to compete fiercely for business with small to midsize companies, he said, both from ERP heavyweights and newer cloud-first competitors who specifically target that market.
“We expect Acumatica to continue to win more deals, as its pricing and features continue to be very attractive,” Windle said. Large-scale ERP vendors such as SAP continue to gain traction and close more deals with SMBs.
However, the ERP vendor sprint to the cloud may result in “a major reckoning for enterprise application cybersecurity attacks,” Windle said.
“With so many vendors moving their solutions to the cloud as quickly as they could, there will be vulnerabilities that vendors must proactively handle before they experience major outages,” he said, adding that he expects all major ERP vendors will take measures to address security issues.
Jim O’Donnell is a TechTarget news writer who covers ERP and other enterprise applications for SearchSAP and SearchERP.
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