What can a modern ERP system do for you?
In today’s dynamic business environment, implementing software to streamline operational processes can make the difference between a business struggling to stay afloat and one that’s flourishing. Increasing competition, a changing regulatory environment, globalization and the constant need to expand revenue while minimizing costs are among the many factors impacting businesses today.
If your existing back-office software systems are out of date and unable to handle the requirements of your business, you may have contemplated moving to a modern ERP system that can better serve your business enabling it to adapt to the ever changing business environment. If it feels like you spend more time working around or against your current systems, it’s definitely time to consider making a change.
There are many indicators that a change to a modern ERP system may be the right move for your business if you are experiencing any of the following:
- Access to data and insights to support decision-making involves manual processes and workarounds or consolidation from multiple stand-alone systems.
- Data access is too time-consuming to support smart, timely decisions.
- Your current accounting or ERP software is too inflexible or complex to support business expansion or organizational change.
- Insight into operations is limited because of loosely integrated management tools.
- Meeting compliance requirements is becoming more time-consuming and difficult.
- Your business is experiencing rapid growth, diversification, geographical expansion or organizational change driving requirements that can’t be met by your current system.
In fact, you may have recognized that your current “solutions” are increasing inefficiencies that undermine your profits and growth potential. You need the speed, flexibility, and agility that a more modern enterprise management solution can provide. We’ve outlined several compelling reasons to adopt a modern ERP system.
GAIN THE CAPACITY AND FLEXIBILITY TO GROW YOUR BUSINESS.
Every company’s mandate to grow is of paramount importance. This means keeping up with evolving market conditions by ensuring that your business is agile, responsive, and connected. Today’s enterprise management solutions integrate and streamline your departments, networks, people, devices, and business processes—enabling you to unlock the potential of the digital economy, innovate and deliver new experiences and value to customers.
The capacity for growth and innovation require business management solutions that:
- Deliver business agility, providing the flexibility to take advantage of new technologies, data sources, and business models.
- Facilitate increases in capacity, implement new processes, and support additional sites and business units.
- Provide flexible, customizable configuration specific to the unique needs of your industry and business.
- Support financial reporting and compliance needs in an ever-changing regulatory climate.
- Are flexible and extensible enough to take advantage of new technologies: IoT, machine learning, blockchain, artificial intelligence, and whatever tomorrow will bring.
DRIVE OPERATIONAL EFFICIENCIES
One significant characteristic of a modern ERP system is that it integrates both processes and data. A second characteristic is the result of the first – because processes are connected, substantially greater automation is possible.
When management tools are not integrated across business functions, both processes and data are siloed. This results in a lack of coordination and insight into your operations which has numerous negative impacts:
- Handoffs between people and processes can be disjointed
- Data access requires manual intervention and workarounds
- Collaboration across geographically distributed teams, both internally and with business partners is impeded
- Delivering a great customer experience is challenging
- Opportunities for automation are minimal
Modern ERP delivers a single system that connects all those people, processes, and data allows you to:
- Streamline your operations with end-to-end integration of your business processes
- Automate processes to gain efficiencies and its corollary, minimize manual processes which can lead to costly errors, delays and frustrate customer and trading partners
- Easily access real-time information from one consolidated source
- Manage core business processes from one place
- Accelerate collaboration among locations
MAKE BETTER-INFORMED DECISIONS
It’s absolutely critical to have your decision-making supported by relevant and timely data and actionable insights. The right enterprise management solution provides real-time business intelligence reporting for executives, managers, and leaders to see what’s going on across their businesses. Built-in analytics provide deeper insight into operations while accelerating communications and decision-making. Your solution should include:
- Integration across all departments, providing data that is a single source of truth.
- Real-time monitoring of performance and costs, order and inventory status and other key business indicators.
- Actionable data intelligence for forecasting and decision-support.
- Robust reporting capabilities with the flexibility to deliver customizations when needed.
REDUCE IT COMPLEXITY AND COSTS
Modern enterprise management solutions were built to provide functionality, security, and scalability at a fraction of the cost and complexity of legacy ERP systems. And with the benefits of both native and hybrid cloud computing, managing the infrastructure required to support these systems, both today and in the future, is easier than ever.
Another important benefit is automated data management. There is no longer a need to fear previously cumbersome and time-consuming heavy lifting to consolidate or migrate data. The right vendor with the right enterprise management solution will provide the tools and services to move data seamlessly, and since business functions are well-integrated, the requirement to migrate data is significantly reduced.
Subscription pricing for modern ERP gives business leaders more flexibility. A pricing model that matches costs to actual consumption can eliminate the need to purchase for anticipated need rather than today’s requirements, and most certainly gives finance leaders greater ability to manage the balance sheet as costs shift from CapEx to OpEx.
Finally, a modern ERP with a high degree of configurability and a robust partner ecosystem minimizes the need for custom development, and speeding time to solution. As additional capabilities are required, gaining that feature can be as simple as flipping a switch or making a simple configuration change. In other cases, ISV capabilities can be activated quickly and easily through cloud connectivity.
In short, reducing IT complexity reduces costs and frees up resources, enabling businesses to focus on higher value and more strategic activities.
ARE YOU READY TO ENJOY THE BENEFITS OF MODERN ERP?
Businesses of all sizes prefer to implement modern ERP systems because they need improvement in internal business processes and overall business performance. They want systems that will support innovation and growth. They also want to reduce labor costs, IT expenses, and improve interactions between staff and companies. Now is the time to consider a move to a modern ERP System – contact us to get started.