An “enterprise application” is combination of two words “enterprise” and “application”. The term “enterprise” was supposed to appeared in English language in the early fifteenth century which means “an undertaking”. An enterprise application is the phrase used to describe applications (or software) that a business would use to assist the organization in solving enterprise problems. When the word “enterprise” is combined with “application,” it usually refers to a software platform that is too large and too complex for individual or small business use.
The enterprise application is the software application that helps business organization in solving enterprise problems. So, what could be enterprise problems. It can be business uncertainty in future, financial management, performance monitoring of organization or business, regulation and compliance, recruitment of talents, maintaining reputation, knowing when to embrace changes.
Enterprise Applications (EA) are a software solution that provide business logic and tools to model entire business processes for organizations to improve productivity and efficiency. Examples include billing systems, customer relationship management systems and supplier relationship management systems.
On the basis of business function enterprise applications can be categorized as follows:
- Business Intelligence (BI)
- Business Process Management (BPM)
- Content Management System (CMS)
- Customer Relationship Management (CRM)
- Database Management System (DBMS) — Master Data Management (MDM) and Data Warehousing (DW, DWH or EDW)
- Enterprise Resource Planning (ERP) — Accounting, Human Resource, Corporate performance and governance, Customer Services, Sales, Procurement, Production, Distribution
- Enterprise Asset Management (EAM)
- Human Resource Management (HRM)
- Knowledge Management (KM)
- Low-code Development Platforms (LCDP)
- Product Data Management (PDM)
- Product Information Management (PIM)
- Product Lifecycle Management (PLM)
- Supply Chain Management (SCM)
- Software Configuration Management (SCM)
- Networking and Information Security
Industry Insights
The global enterprise application market size was pegged at USD 164.46 billion in 2016 and is expected to develop at a CAGR of 7.8% over the forecast period.
Product Insights
Enterprise resource planning (ERP) and Customer relationship management (CRM) accounted significant share in the overall market, contributing a large chunk to the total revenue. In 2014, the customer relationship management segment accounted for 15.0% of the global market revenue. Benefits of automated back office operations such as inventory control, order management, production, and accounting offer accurate and real-time flow of information.
The Content management system (CMS) segment is predicted to expand at a 13.0% CAGR over the forecast period owing to growing need for website content management. CMS solutions offer several benefits by converting unstructured data into structured data.
Business Intelligence (BI) solutions help provide improved efficiency, up-selling opportunities, and identify cross-selling and customer behavior insights. In 2014, the BI segment was valued at USD 15.91 billion and it is anticipated to expand significantly at a CAGR of 8.0% over the forecast period.
End-use Insights
The enterprise application market has been divided on the basis of end use into telecom and information technology (IT), government, banking financial services, and insurance (BFSI), manufacturing services, retail, healthcare, aerospace and defense, travels, chemicals, oil and gas, and media and entertainment.
The healthcare segment is expected to exhibit a CAGR of 8.0% over the forecast period. Rapid adoption of enterprise applications in this sector can be attributed to increasing demand for real-time data transparency, which provides patient-centric healthcare solutions and systems with changing business models. Software vendors such as Infor, Oracle, and SAP provide solutions that improve overall performance, cost efficiency, patient safety, and quality of care.
Deployment Insights
The market for enterprise applications is segmented on the basis of deployment into on-premise and cloud. In 2014, on-premise solutions accounted for a majority of the overall revenue and is likely to continue dominating the global market.
However, cloud-based solutions are becoming increasingly popular among small-scale companies owing to budget constraints and the several benefits this platform offers. The cloud-based solution segment accounted for an estimated 31.0% of the market in 2014 and is estimated to gain substantial traction over the forecast period.
Regional Insights
North America accounted for a major share in the global market and is predicted to retain its dominance throughout the forecast period. Substantial growth in the regional market can be attributed changing business models with a more customer-centric approach and organizations concentrating on decreasing operational costs. Evolving organizational structures also present immense new growth opportunities for use of enterprise applications, thereby driving the regional market.
The Europe market for enterprise applications is estimated to exhibit an estimated CAGR of 6.0% over the course of the forecast period. Asia Pacific is anticipated to record considerable growth owing to increasing demand for cloud-based solutions, stemming primarily from rising number of start-ups and SMEs.
Enterprise Application Market Share Insights
Some of the key market players including Oracle, Microsoft Corporation, Hewlett Packard (HP), IBM Corporation, QAD Inc., SAP, IFS AB, Infor and Epicor Software Corp.
For delivering a reliable customer experience, Oracle launched a series of innovations in 2015, under the banner of Oracle Marketing cloud. The company acquired Front Porch Digital in 2014, to strengthen its portfolio of content storage management solutions. IBM Corporation acquired 18 companies by investing over USD 8 billion to enhance its offerings of cloud-based solutions.
How to Develop a Successful Enterprise Application?
No doubt, Software system solves complex business processes. It has been challenge to fulfill all the business task. So, a lot of business owners, stakeholders, businessman prefer tailored enterprise applications in order to complete all the enterprise or business goal & objectives. That’s why there is payroll System in companies, billing systems in grocery and shops, ticketing systems, reservation systems, hospital systems, educational systems, ecommerce(B2B, B2C, C2C), etc.
There can be curiosity how can we build enterprise applications and use in our business. Enterprise application development is evolving to become more agile and collaborative where IT works to build applications both with internal business teams and agencies external to the company — better understanding and incorporating the end user’s needs. This is primarily enabled by the rapid adoption of cloud technologies.
In past days, enterprise application development involves large teams with in-house resources, follows rigid waterfall process. As technology evolved powerful languages like Java, .NET, Python, C, C++, etc. are used with rapid iteration and more agile.
Things to be considered for Enterprise application Development:
- Powerful and faster application development tools.
- Database, Data Server
- Security
- Scalability
- Ecosystem that accelerates innovation
The enterprise software applications definitions and it is beneficial for organization and business. So, By utilizing enterprise software, you can definitely increase your productivity levels and make your operations run smoothly and cohesively.
Have a nice day !!!…… Thank you for reading…