Enterprise Resource Planning Software (ERP) is a system that uses a centralized database to better integrate business data and processes into a single system that connects operational execution with financial processes and ultimately creates positive outcomes for customers by accelerating value delivery.
There are two general types of ERP solutions, operational ERP which includes manufacturing and operations software and enterprise asset management (EAM) software, and there is administrative ERP which includes financial management system (FMS) software and human capital management (HCM) software. ERP solutions can be delivered on premises, as a SaaS, or as a hybrid of both public cloud and on-premises operating models.
The ERP market size in Qatar is currently US$46.6 million, and is expected to grow by 5% annually to reach US$55.8 million in 2022.
Growth will be steady over the coming years, driven by growing adoption of the technology and overall growth of Qatar’s economy. Qatar’s increasing digital maturity will fuel general demand for ERP systems, as organizations and consumers become increasingly sophisticated in their requirements and demands.
There is a major opportunity for investment as only 1 in 5 companies currently use ERP. Government plans to drive adoption will contribute to growing demand from this base.
The limited use of digital technology to enhance internal business processes is tied to the low availability of vendors. However, strong awareness of ERP and the lack of market competition create an attractive opportunity for new entrants.