What are enterprise applications?
To elevate the organization’s efficiency, channelize the operations, and provide a better service to the customers, the company needs to intensify their business strategies. This can be done by developing customized applications that streamline all the processes. Enterprise applications are built considering all the requirements.
A staggering 67 per cent of CIOs believe that implementing enterprise mobility will take their business to next level. And in today’s age, when everything is going digital, enterprise applications have become a priority more so than ever. Companies use enterprise applications for various reasons. A large number of companies use it just because it offers 35 per cent ROI, while others believe that 47 per cent of their internal communication is enhanced courtesy of such applications.
Top 7 reasons why companies should invest in enterprise application
- In any organization, information comes from myriad divisions. Enterprise application channelizes this data and conveys the right information to the concerned person. It ensures a smooth transfer of the data.
- Such applications increase employees’ sense of belonging towards the organization. As per a study, corporations that have implemented enterprise applications have seen a 21 percent increase in employee’s loyalty. This further benefits the company.
- Implementation of enterprise applications unifies all its branches and divisions at the various location into one single entity. This increases the productivity of the organization whilst giving easy access of essential data to its employees.
- One of the fastest-growing sectors, this segment has witnessed a growth of 10 per cent each year. This is possible owing to its virtue of simplifying the IT processes.
- Employees seem to enjoy these applications because it smoothens the business processes. A study reveals that organizations have seen a 23 percent increase in employee satisfaction and the credit goes to the enterprise applications. It even adds to the overall efficiency of the employees, in turn, benefiting the organization at large.
- Integrating enterprise applications provides better control to the companies, fastens their performance, improves functionality, and promotes transparency.
- One of the crucial benefits of implementing these applications is that it increases and fastens the ROI.
Categories of enterprise application development
Here are some of the sub-types of enterprise applications:
- Customer Relationship Management (CRM)
CRM involves support, sales, marketing, and procurement. This strategy gives the company a complete view of the customer’s perspective, evaluates all the scenarios, and add to the efficiency. CRM software allows communication through email, social media, mobile app, and chats. By the end of 2025, the CRM sector is expected to be worth $80 billion.
- Supply Chain Management (SCM)
SCM connects the different branches of the organization, streamlines the flow of data, and helps in getting to the root of any given problem. In 2020, the sector valued at almost $16 billion. And owing to its importance, it is subjected to reach more than $ 30 billion by 2026.
- Business Intelligence (BI)
BI gives an advantage to a company during decision making. It offers a vantage view of all the available data which helps in the growth of the business. During COVID, more than 53 percent of the companies were of the view that cloud-based BI gave their business a much-needed relief.
- Human Resource Management (HRM)
Managing the lifecycle of employees is one of the crucial processes for any organization. HRM software handles this process right from scouting the perfect candidate to the hiring process till the exit interview stage. By 2025, the HRM sector is predicted to cross $ 30 billion. No wonder, over the years, HRM software has become an integral tool of any organization.
Within no time, Salesforce has become one of the leading cloud-based software providers. Since 2000, its revenue has grown at the CAGR of 51.22 percent. It guides the organization in the direction of the right opportunity, helps in analyzing the customer data, and acts as a catalyst for smooth communication. Today more than 150,000 businesses use Salesforce software
Modern practices of enterprise development
Digitization has been taking the world by storm for ages. To stay ahead of the times, companies ought to assimilate the latest trends to boost their business. Here are some of the latest practices:
- Companies’ AI-first approach is helping them bring in unimaginable reforms. It is formulated that by 2025, almost 90 percent of the organizations will have integrated AI in their enterprise applications.
- Cloud technology comes as a relief for companies who are looking to build cost-effective and flexible enterprise applications. This technology has seen a surge since the outbreak of COVID-19. It is used for storing, backing up the data, and a lot of other things.
- Integrating distributed ledger technology while creating enterprise applications can save a great deal of money for organizations. Blockchain technology brings in transparency, trust, reduces cost, and speeds up communication.
- The enterprise application segment is expected to reach $ 22.69 billion by end of 2026. And other latest technologies such as Big Data and IoT, help in making business processes a piece of cake.
Implementation of enterprise application simples business processes, connects the organization in one entity, smoothens communication, reduces overall cost, is time effective, opens doors to new opportunities, in short, the perks of such applications are endless. App Scoop understands the importance of this technology. Look no further if you wish to integrate enterprise applications in your organization. Being one of the finest solution-provides, App Scoop will be more than happy to be a part of your business development strategy.
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