Your Enterprise Resource Planning (ERP) solution is the backbone of your business. An ERP solution provides visibility to decision-makers, and encourages efficiency and collaboration. According to Aberdeen, The Fear of Being Left Out, December 2015, organizations that do not upgrade their ERP may miss out on new technology that could significantly improve their business because the system they have in place today may not be meeting their needs, or may not be able to support the growth and innovation that is key to the organization’s future success. An outdated ERP solution can thwart a company’s success, and ultimately lead to organizational failure.
Following are three signs to look for when considering an ERP System upgrade.
Your ERP System Is Not Cloud-Based
With today’s increased technology integrations, and an upsurge in mobile, analytics, big data, and social collaboration, it makes sense that companies are looking to further strengthen their ERP investments by migrating to the cloud. Cloud-based ERP systems can safeguard and routinely back up critical data and also eliminate hardware and server investments, thereby reducing costs associated with software updates, data storage, and management. According to Aberdeen, Cloud ERP’s Time Has Come, data shows that cloud ERP has finally surpassed on-premise solutions in the minds of many organizations. Cloud ERP empowers users to access data to improve employee productivity and increase customer service.
Your Software Lacks Features That Are Becoming Industry Standard
Many organizations fall into a rut and continue using ERP software that is outdated and inefficient, in part because employees are comfortable and familiar with their existing technology. However, this guarantees that these organizations are missing out on cutting-edge features and new levels of functionally that will help grow the business. Further, some existing enterprise systems may not be designed to support today’s newer technologies such as Mobile and Analytics. As ERP solutions continue to evolve, organizations look to modern business applications that can help them drive growth and agility while adapting to rapidly changing business models based on customer success and revenue. (IDC, Worldwide Enterprise Applications Market Shares, Christine Dover)
Your ERP System Lacks Overall Integration
An ERP system is most effective when it seamlessly integrates across all applications. If your ERP system does not effectively communicate with other systems or provide end-to-end capabilities, it can create an ineffective work flow. The benefits of seamless cloud integration for example, come down to helping enterprises accomplish fundamental objectives, such as: better access to critical information, and streamlined business processes. A fully integrated ERP solution gives employees access to the information they need, exactly when they need it.
Organizations rely upon their ERP solution to completely support all business needs. An ERP solution can have long lifecycles within organizations, but businesses, and the technology that supports them, change over time. Staying ahead of the technology curve with an up-do-date, automated and integrated ERP solution ensures that your business can stay on the upgrade path to success.