Research organization IDC surveyed 167 business executives and found that the average annual cost of maintaining and updating ERP systems is upwards of US$1.2 million and can exceed US$4.1 million in extreme cases.
Research organization IDC surveyed 167 business executives to gain insights into their companies' use and ongoing maintenance of ERP systems. Among other findings, it discovered that 15% of the enterprises surveyed were forced to reimplement the entire ERP system, after most of them spent over US$2.5 million on the solution.
Like it or not, uniquely identifiable watches, eBook readers and other gadgets with their own unique IP address are here to stay. Companies have no choice but to adjust business models, strategies, and finance and other business processes to respond to the rise of the "Internet of Things" (IoT) and the Machine-to-Machine (M2M) solutions that enable this new reality.