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Cloud ERP Market to Grow by USD 19.98 Billion (2024-2028), Digital Transformation Boosts Revenue, AI’s Impact on Market Trends – Technavio

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NEW YORK, Nov. 29, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global cloud ERP market size is estimated to grow by USD 19.98 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 11.53% during the forecast period. Growing focus on digital transformation in business organizations is driving market growth, with a trend towards integration of advanced technologies in ERP solutions. However, increasing number of cyberattacks on cloud erp software poses a challenge. Key market players include Acumatica Inc., Certinia Inc., Dassault Systemes SE, Deacom Inc., ECI Software Solutions Inc., Epicor Software Corp., Infor Inc., Microsoft Corp., Oracle Corp., Productoo, QAD Inc., Ramco Systems Ltd., Rockwell Automation Inc., Rootstock Software, Sage Group Plc, SAP SE, SYSPRO Pty. Ltd., Unit4 Group Holding B.V., Workday Inc., and Xledger.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Solutions and Services), End-user (BFSI, Manufacturing and services, Government, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled           

Acumatica Inc., Certinia Inc., Dassault Systemes SE, Deacom Inc., ECI Software Solutions Inc., Epicor Software Corp., Infor Inc., Microsoft Corp., Oracle Corp., Productoo, QAD Inc., Ramco Systems Ltd., Rockwell Automation Inc., Rootstock Software, Sage Group Plc, SAP SE, SYSPRO Pty. Ltd., Unit4 Group Holding B.V., Workday Inc., and Xledger

Key Market Trends Fueling Growth

Cloud ERP market is thriving with trends such as customer relationship management, ecommerce platforms, and analytics tools. Operational efficiency is a key focus, with Data Bridge, biometric technology, and consumer electronics enhancing identification and authentication processes. Pestle analysis reveals impacts from trade regulations, geographical coverage, and organization size on strategic decisions. Expert analysis of sectors like aerospace and defense, public administration, banking, financial and insurance, and consumer preferences highlight biometric authentication for identification purposes. Technology enhancements include AI-driven biometric, encryption, and cyber threats mitigation. Cloud ERP solutions offer planning tools for manufacturing, sales processes, and supply chain management across public, private, and hybrid clouds. Human capital management and enterprise performance are crucial for construction, healthcare, IT and telecom industries. Revenue generation, investment, and system integrators complete the cloud ERP landscape. 

The cloud ERP market is experiencing substantial growth due to the integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and machine learning. AI automates routine tasks, offers intelligent insights, and enables predictive analytics, allowing businesses to make informed decisions. IoT provides real-time data from connected devices, enhancing asset management, optimizing supply chains, and improving operational efficiency. Machine learning algorithms identify patterns and anomalies in large datasets, enabling demand forecasting, risk management, and personalized customer experiences. Major players in the cloud ERP market are integrating AI into their solutions to stay competitive. 

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Market Challenges

Cloud ERP systems have become essential for businesses looking to streamline their operations and improve customer relationships. However, implementing these systems comes with challenges. One major challenge is integrating cloud ERP with ecommerce platforms and analytics tools for optimal performance. Operational efficiency can be enhanced through cloud-based platforms, but geographical coverage and expert analysis are crucial for businesses expanding globally. Biometric technology, such as AI-driven biometric authentication, is essential for consumer electronics and identification purposes. However, safety and security, including encryption and cyber threats, are significant concerns. Trade regulations and import/export analysis also impact cloud ERP adoption. System Integrators play a vital role in implementing ERP solutions, including BO, AP, and AR processes. Machine Learning, Artificial Intelligence, and Generative AI technologies are enhancing cloud ERP capabilities. Businesses of all sizes must consider strategic decisions related to cloud ERP investments, including public, private, or hybrid cloud solutions, and the impact on human capital and enterprise performance in sectors like aerospace and defense, public administration, banking, financial and insurance, construction, healthcare, IT and telecom, and more.Cloud ERP software plays a vital role in connecting various business functions within an organization. Unfortunately, this makes ERP systems a prime target for cybercriminals seeking to disrupt operations and gain access to sensitive information. Hackers can exploit vulnerabilities in ERP systems through methods such as distributed denial-of-service (DDoS) attacks. These attacks can cause significant downtime and impact production efficiency. ERP systems store crucial business data, making them an attractive target. Additionally, the prevalence of default and shared passwords within organizations complicates password management and monitoring. This lack of proper IT security infrastructure increases the risk of cyberattacks, potentially causing significant damage to businesses.

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Segment Overview 

This cloud erp market report extensively covers market segmentation by

Component 1.1 Solutions1.2 ServicesEnd-user 2.1 BFSI2.2 Manufacturing and services2.3 Government2.4 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Solutions- The cloud ERP market’s solutions segment primarily focuses on the software employed by businesses for ERP implementation. Cloud ERP necessitates software platforms for efficient ERP execution. Major industries, such as BFSI, manufacturing, and services, utilize cloud ERP for managing large orders in a timely manner. Pre-configured software solutions are integral to cloud ERP, integrating pricing models, data processing speed, and quantity management. Customization to suit end-user needs, swift processing of voluminous data, dependability, affordability, and installation guidance are key features of cloud ERP software solutions. The market’s growth is driven by the increasing digitization and widespread adoption of cloud ERP solutions.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Cloud ERP (Enterprise Resource Planning) is a business solution that integrates customer relationship management (CRM), ecommerce platforms, analytics tools, and operational efficiency in a single, cloud-based system. Data Bridge Market Research provides expert analysis on the global cloud ERP market, covering geographical coverage, planning, manufacturing, sales processes, and various industries such as aerospace and defense, consumer electronics, and epassport. The market is driven by the need for safety and security, encryption, and biometric technology for authentication. However, cyber threats and trade regulations pose challenges. Revenue is generated through strategic decisions to expand organization size and geographic coverage. Cloud ERP also offers import-export analysis, encryption, and planning tools for manufacturing and sales processes. Investment in cloud ERP is expected to increase due to its ability to enhance operational efficiency and facilitate strategic business decisions.

Market Research Overview

Cloud ERP (Enterprise Resource Planning) is a business solution that integrates customer relationship management (CRM), ecommerce platforms, analytics tools, and operational efficiency on cloud-based platforms. Data Bridge Market Research provides expert analysis on the global cloud ERP market, covering geographical coverage, consumer preferences, and trade regulations. The market is driven by technology enhancements, such as biometric authentication for identification purposes using AI-driven biometric technology and encryption for safety and security. Cloud ERP caters to various industries, including manufacturing, sales processes, aerospace and defense, public administration, banking, financial and insurance, construction, healthcare, IT and telecom, and more. The market is expected to grow due to geographic expansions, organization size, strategic decisions, and the need for increased efficiency and revenue generation. System Integrators play a crucial role in implementing cloud ERP solutions, which include ERP, BO (Business Objects), AP (Accounts Payable), AR (Accounts Receivable), Machine Learning, Artificial Intelligence, and Generative AI. Cloud ERP also offers supply chain management, public and private cloud options, and human capital management for enterprises’ performance enhancement. However, cyber threats and encryption concerns may pose challenges to the market’s growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionsServicesEnd-userBFSIManufacturing And ServicesGovernmentOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

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Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally 

LONDON, Dec. 3, 2024 /PRNewswire/ — IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses. 

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services. 

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements. 

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience. 

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.” 

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.  

Media contact:   
IRIS Software Group  
news@irisglobal.com  

About IRIS Software Group 
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on Facebook, TwitterInstagram and LinkedIn. More information on its award-winning software solutions can be found here.    

About Dext
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

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SOURCE IRIS Software Group

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AC Health makes critical HIV care more accessible to Filipinos with USAID support

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MANILA, Philippines, Dec. 3, 2024 /PRNewswire/ — Ayala Healthcare Holdings, Inc. (AC Health), in partnership with the U.S. Agency for International Development (USAID), is leading the private sector’s efforts to fight the HIV epidemic in the Philippines by improving access to stigma-free care and lifesaving services.

The partnership was sealed in time for World AIDS Day, whose theme “Collective Action: Sustain and Accelerate HIV Progress,” underscores the importance of collaboration to overcome this health challenge.

AC Health will leverage its unique ecosystem to develop, test, and scale approaches to improving and expanding HIV care and prevention services in the Philippines. AC Health will onboard qualified health service providers on the KonsultaMD platform and expand HIV awareness and screening services beyond health facilities. It will also import essential medicines and other lifesaving technologies through units IE Medica and MedEthix and make these commercially available through Generika Drugstore.

An important ally in the Philippines’ fight against HIV, USAID will support community engagement, provide technical assistance to Healthway Medical Network, and introduce private sector models for HIV service delivery. USAID will also train healthcare providers, share research, expand telehealth access through KonsultaMD, and coordinate with partners to provide free HIV self-testing kits.

“Our mission at AC Health is to make quality and affordable healthcare accessible to more Filipinos. Through our partnership with USAID, our dedicated teams at Healthway Medical Network, KonsultaMD, and Generika Drugstore have been equipped with specialized training to serve key populations affected by HIV. This collaboration brings us closer to bridging gaps in HIV prevention and testing, ensuring these critical services reach more communities nationwide,” said AC Health Chairman Fernando Zobel de Ayala.

The partnership is a key initiative to support the Philippines in addressing one of the fastest-growing HIV epidemics in Southeast Asia. AC Health’s participation also highlights its growing role in responding to public health challenges in the country.

AC Health, in partnership with Publicis Groupe Philippines and the People Management Association of the Philippines, is also leading the “Working with Cancer Pledge” in the country. This initiative is a global movement to raise awareness and support for people struggling with cancer in the workplace. Since its launch in 2023, hundreds of companies globally have been transformed into inclusive workplaces for employees dealing with cancer. 

AC Health, a wholly-owned subsidiary of Ayala Corporation, aims to provide every Filipino accessible, affordable, and quality healthcare. Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies; St. Joseph Drug, a leading retail drugstore chain in North Luzon; IE Medica and MedEthix, a major pharmaceutical importer and distributor; Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers, and full-service hospitals; and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery, and clinic and diagnostic booking. Through its three pillars—pharma, hospitals and clinics, and digital health—AC Health creates a seamless and integrated healthcare ecosystem for the Filipino patient.

About Ayala Corporation

For 190 years, Ayala Corporation has been building businesses that enable people to thrive.

Ayala, currently one of the largest conglomerates in the Philippines, has meaningful presence in real estate, banking, digital solutions, and renewable energy. It likewise has a growing presence in healthcare, mobility, and logistics as well as investments in industrial technologies, education, and other ventures. Ayala manages its corporate social responsibility initiatives through Ayala Foundation.

Visit our website at https://ayala.com and by follow us on LinkedIn to learn more about the company.  

 

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SOURCE Ayala Healthcare Holdings, Inc.

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CLAIRE’S CONTINUES MOMENTUM IN BEAUTY WITH THE INTRODUCTION OF C BY CLAIRE’S

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The exclusive, new collection of luxurious body care and fragrances is inspired by and tailored to Gen Zalpha’s everyday lifestyles

HOFFMAN ESTATES, Ill., Dec. 3, 2024 /PRNewswire/ — Global fashion brand Claire’s is continuing its evolution within the beauty category with the launch of C by Claire’s, an exclusive line of fragrances and body care products designed to help Gen Zalpha feel their most confident. Building on the success of Claire’s existing body care product collection, the new line gives consumers even more bespoke scents to love and furthers Claire’s impact in the category.

The new collection features luxurious foaming moisturisers, bath and body scrubs, fragrances, hair and body mists, and more, meeting consumers’ demands for beauty products that help them feel empowered in the same way that the brand’s signature fashion accessories have for over 50 years. C by Claire’s is crafted with high-quality ingredients in delightful, original scents like Cherry Bliss, Cloudberry Fizz, Watermelon Kiss, and Salted Caramel, with many catering to the growing gourmand scent trend. Each product is presented in vibrant packaging that reflects the bold, expressive spirit of Claire’s and its consumers.

A marquee of this collection, Claire’s is introducing an all-new signature fragrance, aptly titled “Be The Most” in a nod to the brand’s platform rooted in self-expression. The fragrance boasts a delicate blend of pistachio, vanilla musk, silky sandalwood, and Italian citrus, ideal for both everyday wear and special occasions.

“At Claire’s, we continually seek innovative ways to engage with our consumers and provide the products, categories, and experiences that excite them,” said Meghan Hurley, VP of Marketing at Claire’s. “We know beauty is a space that our Gen Zalpha consumers are passionate about, and we’re thrilled to give them another avenue to express themselves through this new collection.”

Supporting the collection is Claire’s CGI-centric Christmas campaign which comes to life across the brand’s retail, digital and social channels spotlighting Claire’s as the ultimate destination for the gift-giving season across jewellery, toys, tech and more. In time for the festive season, the line also includes gift sets and a “7 Days of Claire’s” advent calendar with daily surprises that are sure to delight.

C by Claire’s is the latest launch in Claire’s evolution into a full-fledged Gen Zalpha lifestyle brand. Priced from £12.00 to £25.00, C by Claire’s is now available in stores and online at Claires.com and will further expand with new products to love, offering even more reasons to shop at Claire’s. Follow along @Clairesstores to stay in the know on the latest collections, style tips, and more.

About Claire’s Holdings LLC
Claire’s Holdings LLC is a fully integrated, global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences. For over 50 years, Claire’s has been a destination for the curious, creative and influential and an industry-leader in ear piercing services, delivering a trendsetting assortment of fashion products and accessories that help young people worldwide style and define themselves. Through its global brands, Claire’s® and Icing®, the company delivers an immersive, omnichannel shopping experience with owned and concession stores throughout North America and Europe as well as franchise stores in the Middle East and South Africa. More information regarding Claire’s is available at corporate.claires.com.

MEDIA CONTACTS
Katie Settle, Katie.Settle@claires.com

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