Business operations are getting smarter by the day, with enterprise application software (EAS) integrating various processes in a systematic and efficient manner. Procurement specialists at Technavio have found that buyers prefer EAS that provides them with customized solutions for their businesses. With increased adoption of cloud services, along with the popularity of automation of back-office functions, the demand for EAS has grown substantially.
What is driving the EAS market?
- Modernizing the existing enterprise systems
Buyers are looking for ways in which they can improve existing company applications. Reduction in maintenance costs is the main reason behind this trend. EAS helps businesses to adopt advanced technologies to improve their overall performance and gives them an edge over their competitors.
- Demand for data centralization
With high volumes of data, the need for centralized data systems that can enable data integrity, single point of access, real-time transparency, and provide better insights into organizations’ overall function has emerged. And as EAS facilitates the flow of real-time data and information at the overall enterprise level, its market has gotten a further boost.
- Adaptive security
Another major driver of the global EAS market is the need for a network security model that helps in averting attacks, detects threats at the preventive level, and also identifies possible threats through network monitoring.
Leading suppliers of EAS
Oracle is known for its brand of database management systems (DMS). A major supplier of Cloud engineered systems, enterprise software products, and database technology. Enterprise performance management, supply chain management, human capital management, business process and enterprise resource planning are some its primary applications. Recently, the company signed an agreement to acquire LogFire, a provider of cloud-based warehouse management applications. It also acquired Palerra to extend Oracle Identity cloud service with an innovative CASB.
A leading platform and productivity company, Microsoft is a major player in the IBM PC-compatible OS market and the office software suite market. In October this year, the company released its service, Azure Information Protection, which helps enterprises protect data when it moves between servers and devices.
A major software manufacturer, last month SAP introduced its SAP HANA Cloud platform IoT service to help customers and partners develop IoT solutions in an efficient manner. Supply chain management, enterprise management, customer relationship management and product lifecycle management are some of SAP’s key application areas.
A major research organization, IBM offers hosting and consulting services in areas ranging from mainframe computers to nanotechnology. Customer experience analytics, Watson supply chain, enterprise performance management along with marketing cloud are some of the company’s chief product offerings.
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