Firms vary widely in how they define and deploy ERP and the outcomes they achieve. Despite most firms increasing their ERP budgets, this growth is a false indicator of success. Cloud momentum is tempered by technical debt, and soaring total cost of ownership could be due to investing in innovation or spending to manage complexity. Tech execs must move beyond high-level satisfaction ratings and the illusion of cloud readiness to lock their scope, stage modernization, and rigorously pressure-test AI promises before committing. This report provides the definitive analysis and actionable guidance for tech leaders to navigate the ERP market’s new realities and seize a competitive advantage.