When we think about who needs an enterprise resource planning (ERP) system, it could be any company seeking to create more efficiency, drive return on investment, and increase profits.
An organization can be facing a wide array of business challenges, but the real-time data that a cloud-based ERP solution brings to the plate can be a true game changer. Let’s look at some of the reasons a company should implement a new ERP system.
1. Expiring an Outdated Legacy System
Time packs a punch, and when it comes to technology, this is more the case than ever. Dated systems are no longer supported by the best and brightest of industry vendors, but instead have state-of-the-art engineering. Welcome to the age of cloud-based solutions!
With top-notch functionality and the latest tech developments at the forefront, today’s ERP solutions provide businesses with data-driven insights that can impact both performance and growth. Costly ERP solutions that fail to identify key indicators can prove costly to a company.
There’s another solid reason to look elsewhere — once the best possible solution has been determined — is the overall cost of maintaining a legacy site over investing in a state-of-the-art solution.
2. Assessing Growth Limitations
Any legacy system is stretched to provide the tools needed to grow a company. With a cloud-based ERP there’s the chance to curtail obstacles and improve business processes. Moving beyond functional limitations with the implementation of modern technology enables an organization to better compete with competition.
Many companies struggle with outdated technology that has been weighed down by acquisitions, the addition of new products and services, or changes in a vendor’s technical requirements. It’s essential that companies keep up with current advancements that can address a robust point of sale (POS), warehouse management system (WMS), and e-commerce or mobile solutions.
3. Real-time Advancements
Inadequate software and hardware can bring slow response time and even downtime. When a company is determining whether it wants to make the jump to a modern cloud-based ERP system, its leadership should look to the future — if growing to scale or increasing business is an objective, bringing updated technology into the mix is essential.
Today’s ERP solutions offer an array of sufficient out-of-the-box capabilities. Regardless of industry, look for a vendor that clearly understand the unique needs of the business; it’s even better if they have successfully implemented migrations for companies that face the same challenges and operate in like ways. Leading solutions should integrate with apps, providing the company with the tools it needs to succeed. Custom build outs are now frowned upon, as they make upgrading to new software releases more difficult.
4. Consider Customer Experience
Business leaders may be surprised that an ERP system can drastically improve the customer experience. This is not the case for outdated legacy solutions. In fact, migrating to the cloud and implementing modern-day technology can help businesses by offering a better service model.
Modern ERPs provide accurate and up-to-date insight into shipping status, which can better meet the needs of both online and brick-and-mortar merchants; reduce the risk of losing sales due to time-consuming processes around past order history and pricing; and enable customers with a user-friendly system that allows them to manage accounts, as well as review order and shipping details.
5. Easy-to-digest Dashboards
Each function of the business should have visibility into real-time data that reflects strengths and challenges the company is facing. Whether it is the C-Suite, finance department, or warehouse staff, the latest and greatest advancements can make a world of difference when it comes to efficiency and capabilities.
With key performance indicators (KPIs) addressed in easy-to-absorb graphic presentation, all staff members will be able to track progress and, ideally, have the tools before them to minimize and even eliminate risk. Having information available at the touch of a button helps to reduce the amount of busy work for employees who have historically been expected to put together Excel spreadsheets — which can take more time that a company often has.
Ready to Join the Cloud?
Acumatica makes it easy to implement a single solution that ties in every aspect of business. With a highly advanced system, customers are able to take advantage of the many beneficial aspects a cloud-based ERP system includes.
Flexible, powerful, and born in the cloud, Acumatica is a single solution that ties in every element of your business including consolidated financials, tracked orders and costs, workflow, document storage and customer relationship management, to name a few.
With a long running history of partnering in software excellence, we look forward to the opportunity to take clients into the future with cutting-edge software technology that delivers results. Contact us to learn more!