Businesses Are Prioritising Composable ERP Strategy As Pandemic Accelerates Cloud Migration
Boomi Global ERP Report Finds Organisations Achieve Agility and Growth Through Modernising Legacy Applications
Boomi™, a leading provider of cloud-based integration platform as a service (iPaaS), today announced the findings from a new global survey that reveals while 93 per cent of Australian organisations are implementing a composable Enterprise Resource Planning (ERP) strategy, more than a third don’t have the integration capabilities to drive this modernisation.
The independent survey of 1,675 CTOs and enterprise architects, commissioned with Coleman Parks, shows companies are keenly aware that their legacy ERP systems, the backbone of every organisation, are struggling to keep pace with business demands. This has fuelled interest in composable ERP strategies, with nine out of ten Australian organisations embracing a flexible platform to bridge the gap between legacy and modern applications while meeting business demands in today’s fast, competitive market.
Despite the flexibility composable ERP provides, integrating all applications to work collaboratively and share data is still a challenge. Boomi’s findings suggest implementing an integration strategy to support composable ERP systems is a top concern, with 37 per cent of Australian organisations stipulating their current integration solutions struggle to meet business challenges. Meanwhile, 41 per cent indicate that there is too high a cost to maintain these solutions, followed by 35 per cent finding that they can’t cope with their complex hybrid technology environment.
In addition, as traditional integration solutions require expensive, time-consuming custom development coding, optimisation and automation is a high priority for IT teams. Results show 62 per cent of Australian companies are investing in standardisation and consolidation of applications, while 74 per cent are pursuing application cloud migration.
“When a new digital platform doesn’t deliver what IT promised, it validates any initial scepticism and sinks future projects before they start, and can hamper entire digital transformation projects,” said David Irecki, Director Solutions Consulting Asia-Pacific and Japan at Boomi.
“Organisations across Australia are thirsty to modernise operations, transform user experience and embed agility. But to meet these goals and deliver value, companies need the right technologies that bridge the gap between legacy and best-of-breed applications, and therefore securely share data for improved business intelligence.”
While behind the global average of 83 per cent, 65 per cent of Australian companies affirm that the motivation behind adopting integration technology is to provide the best possible experience for customers and employees.
“The typical enterprise has, on average, 850 applications, of which only 30 per cent are connected,” said Chris McNabb, CEO of Boomi. “The biggest challenge every business faces today is unifying their increasingly fragmented digital ecosystem so they can create the integrated experiences expected by customers, employees, and partners. Organisations that remove friction through fast, intelligent data discovery and cataloguing, pervasive connectivity, process integration, and automating human workflows are the ones best positioned to thrive as we move beyond the pandemic.”
Other key findings from Australia include:
- By moving their ERP suites to the cloud, Australian organisations are improving business efficiency (39 per cent), increasing IT agility (28 per cent), and driving business growth (33 per cent).
- With Australian companies now committed to migrating ERP suites to the cloud, 64 per cent predict that their ERP system will no longer be fully on-premises by 2022.
- Compared to the global average of 38 per cent, Australian businesses are global leaders in adopting a Hybrid Integration Platform (HIP) strategy, with more than half (52 per cent) already leveraging the technology to gain the flexibility to integrate applications and data wherever needed.
- However, some obstacles hindering modernisation are budget constraints, with the public sector (45 per cent) and healthcare industry (41 per cent) naming it a top challenge. In addition, complex hybrid IT environments are a significant hurdle in the retail (41 per cent) and manufacturing (46 per cent) industries.
“After a year of coping with incredible change, businesses recognise that modernization is critical to survival,” McNabb added. “As organisations ramp up efforts with composable ERP, open iPaaS platforms are essential to making it a success.”
- Get a free copy of the “The Innovators Shift to Composable ERP” eBook
- Check out “The Innovators Shift to Composable ERP” Infographic
- Download the Gartner report “The Future of ERP is Composable”
- Explore the Boomiverse Community
- Follow Boomi on Twitter, LinkedIn, and YouTube
Boomi instantly connects everyone to everything with our cloud-native, unified, open, and intelligent platform. Boomi’s integration platform as a service (iPaaS) is trusted by more than 15,000 customers globally for its speed, ease-of-use, and lower total cost of ownership. As the pioneer at fueling intelligent use of data, Boomi’s vision is to make it quick and easy for customers and partners to discover, manage, and orchestrate data, while you connect applications, processes, and people for better, faster outcomes.
For more information, visit http://www.boomi.com.
© 2021 Boomi Inc. Dell, Dell Technologies, Boomi, the ‘B’ logo, Atom, Boomiverse, AtomSphere, Molecule, and Dell Boomi are trademarks of Dell Inc., or its subsidiaries. All rights reserved. Other names or marks may be the trademarks of their respective owners.