Latin America will be among the key regions in terms of enterprise resource management (ERM) applications this year, US consultancy firm IDC said in a statement.
Every region is forecast to grow above the market average this year, except for the US and Japan, IDC said. Brazilian firms are expected to be among the top ERM investors this year.
Globally, companies are forecast to spend a total of US$37.9bn on ERM during 2011, said Wilvin Chee, associate VP, at IDC's Worldwide Software Trackers. "In terms of functional markets, three out of eight are expected to perform the best. They are: financial performance and strategy management, order management, and project and portfolio management," the executive said.
Global revenues from ERM services are expected to expand 10% this year, IDC said.