Deep Dive 11 minutes PremiumRetailTech: ERP Software—the Nervous System of Modern Enterprises Coresight Research October 23, 2019 Executive SummaryFrom its origins in manufacturing, enterprise resource planning (ERP) software has evolved to become critical to almost every aspect of running a business – and offers key functions for retail. ERP software is the central nervous system of an enterprise, interconnecting supply chain, commerce, inventory, warehousing, fulfillment, analytics and finance. Initially focused on manufacturing, ERP has added additional functions to address nearly every aspect of business, including human resource management and customer-relationship management (CRM). Sector leaders are global enterprise companies such as Microsoft, Oracle and SAP, though there are several niche ERP software providers. Salesforce is the leading provider of CRM software. The US ERP market is estimated at $16.4 billion in 2019 and is projected to grow at a CAGR of 4.2% during 2016-2021, according to Statista. The US CRM market is slightly larger and growing faster. ERP is an essential tool for retailers to become more efficient, flexible and innovative to combat the steady encroachment of e-commerce and a volatile consumer landscape characterized by a dramatic increase in the number of available distribution channels and rapidly changing consumer preferences. The ERP sector is experiencing renewed activity, as ERP software providers and enterprises move IT functions to the cloud, which offers lower cost, the ability to innovate, to develop new functions and launch new offerings rapidly. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Insights Video: Shoptalk 2023 HighlightsLuxury Clothing and Footwear Sector To Gain Share of the Total US Apparel Market in 2023 and BeyondMarch 2023 US Retail Sales: Growth Decelerates from February3Q23 US Retail Inventory Insights: Positive Factors Pave the Way for Better Inventory Turnover in the Holiday Quarter