53% businesses count on ERP as a priority investment. According to market reports, the global market for ERP programs is estimated to garner $47 billion USD in revenue by 2022 with 7% CAGR. ERP software programs make business management easier by integrating all major business functions into one suite. From accounting to manufacturing data to financials to supply chain management- an ERP program stores all this data in one single database to enable all departments of a company to operate with the same information. this data could be analyzed, organized as well as presented into reports. 64% of businesses root for ERP for enhanced business performance, while 57% trust it to lessen working capital and reinforce business growth.
Problems with existing ERP
While ERP is no doubt significant for businesses today, there is a catch. The traditional ERP scene seems to be rigid and closed. In fact, it’s expensive for the user-businesses since the current ERP scene is mostly dominated by the monopoly of some big companies like SAP, Microsoft NAV, and Salesforce.
As per market stats, 75% ERP projects tend to fail. Failure with implementation creates dissatisfaction and a state of the constant quarrel between ERP providers and user-businesses. In fact, in most cases, it has been seen that an ERP implementation needs certain adjustments and alterations. And as mentioned previously, given the monopoly of top guns existing in conventional ERP a user-business is forced to seek help from one specific provider only. It naturally becomes an expensive affair for the user-business as it does not get the opportunity to check out other providers.
Besides, ERP companies/providers and implementers are often under this misconception that they don’t receive sufficient payment for their job. It aggravates their conflict further with user-businesses. Such a situation calls for a mediator to settle the dispute between two parties. This mediator usually charges a handsome fee and that altogether hikes up the overall ERP cost for the user-business.
Current ERP issues also affect clients of user-businesses
The problems in the existing ERP scene also stretch to customers of user-businesses opting for ERP programs. ERP systems are a favorite of illicit hackers. Why? It’s because these programs contain many important personal and financial data of customers that hackers long to get their hands on to realize their fraudulent antics. The existing ERP systems harbor a centralized approach that makes the job easier for hackers. A centralized database carries a centralized storage solution which carries all the data. It means a hacker here would just have to wage an attack on one central point to gain access to all the stored customer data inside the ERP.
Besides, recent studies have found out easy exploit opportunities in a leading ERP system which have raised hacking risks for over 50,000 businesses. In fact, these exploits do not call any advanced knowledge which means the current ERP systems can be hacked with basic hacking know-how only. Just imagine the mammoth security risk the existing ERP systems pose to the customers of the user-businesses!
Our mission- shift to a decentralized ERP system
As a dynamic and sensible ERP company, Zygot puts emphasis on the introduction of a decentralized ERP system in the current marketplace. We believe it’s a decentralized system that will be able to reduce conflicts and misunderstandings between ERP providers, implementers, and the user businesses. Moreover, a decentralized ERP system will also offer the needed data security to the customers of ERP user-businesses.
Introducing ZERP
ZERP comes to the scene to relieve the current ERP scene of its typical problems which are causing issues for the providers, implementers, user-business and their end-user. Developed by Zygot, ZERP is a community-based, decentralized, marketplace-facilitated futuristic ERP solution-powered by the blockchain EOS. The ZERP engine is powered by the Zygot token.
A leading name across the ERP scene, Vertex (Zygot’s parent organization) has been developing enterprise-grade ERP solutions for more than 25 years now. The company’s unrivaled experience in the field as well as premier domain-specific knowledge, render it the power to redefine the ERP landscape worldwide with new-age technologies like decentralization, smart contracts, and blockchain. Zygot already has an existent ERP software built by Vertex which has been adopted by 4,000 clients across 350+ companies.
With ZERP, Zygot aims to transcend the current centralized ERP scene to a decentralized blockchain-powered global solution that can cater to all business sizes, industries, domains, and ecosystems. It stands for an exclusive community-improved, sustainable and an affordable ERP solution.
As ZERP will have a modular structure, it’s user-businesses will have the liberty to spend money on only the parts and modules they actually need. Such facilities are never possible with the conventional rigid ERP systems. Thanks to its modular structure, ZERP will help its user-businesses with handy savings on ERP budget as well.
Why are we building ZERP?
In simple words, we are building ZERP to get rid of the problems dominant in the current ERP scene today. ZERP is strategically designed to relieve companies of faulty ERP implementation, high ERP costs and data security that pose a huge threat to their end-users.
Fair marketplace competition to cut down the monopoly
ZERP is a decentralized open-source ERP program that can be maintained and updated by independent software & implementation teams. User-businesses will get a dashboard to post their needs regarding adjustments or maintenance of their ERP. They can also specify the sum of tokens to be rewarded to the right implementer team for doing the job successfully. Based on the dashboard post, various independent teams will vie for the job. This way, a user-business easily gets to choose from a number of providers and implementers.
The implementer teams (that do the job) will have to freeze a certain amount of tokens before they set out for the job. These teams will be rated based on their performance. If any team gets negative marking, it will be removed from the ZERP ecosystem. Also, it won’t have access to the frozen coins. ZERP is extremely strict about these rules to ensure commitment from developing/implementing teams and to ensure a fair affordable ERP scene for users.
Data security through blockchain
ZERP’s EOS-based blockchain enables it to ensure data security on ERP. Unlike traditional centralized options, the blockchain-based program follows a decentralized module that makes the job complicated for hackers. It comes with a peer-to-peer network and utilizes solid encryption to safeguard the ERP database built in it. Also, the data stored in the blockchain is actually indestructible.