Deciding when your company needs new ERP software is a challenging task. Of course, incorporating new technology will impact your business processes and operational cost as well. But experts believe that it is a sensible decision to move along with technology and keep your business armed with emerging technologies for experiencing improvement in business efficiency, productivity, and agility.
Assorted below are a few situations that clearly point out that your business needs to discard old and inefficient ERP software and is in the dire need of a new one.
1. IT Plays a Restrictive Role: A successful business should always create business processes to the best of its efficiency rather than based on existing IT systems and software. So, the possibility of meeting ever-growing future demands will go down in drain if your present ERP software is unable to manage your current business operations effectively. Thus, this will be the first indication that you need new ERP software to scale your business as per your capabilities.
2. Ineffective Insights: When your company is using disparate IT solutions, it becomes difficult to draw meaningful and impactful insights and decisions. To create strategic business decisions, you need integrated information available in one place. Therefore, if you need time to integrate your data in one place despite using an ERP software system, this is really an alarming bell.
3. Complicated Processes: It is surprising to hear that all employees of the company are using the ERP software but with varying levels of competency. Moreover, many are unable to operate it accurately due to the complexities involved. So, keep your employees engaged and on one platform by introducing feature-rich and easy-to-use ERP software.
4. Software becomes Obsolete: The technology and business requirements change at a fast pace. Based on these changes, you need to upgrade your software to meet current and future business demands. If your business software finds it hard to upgrade or collaborate with other software purposes, it will defeat its overall purpose of integrating information in one place. Thus, it has become obsolete, and the time has come to discard it.
5. Start Demanding Too Much Cost: If you find updating your software or customizing it as per ongoing business requirements an expensive proposition, shift to a new system. It will dig a big hole in your pocket initially but in the long run, it will prove as a cost-effective business decision.
6. Security of systems is at Stake: The ERP software will deliver the best results for your business only when it is scalable, feature-rich, and secure also. At any point in time, if you feel that the security of the system is compromised, there is no point in continuing with it. The reason is ERP contains useful and sensitive business information and if any employee shares this information with your business competitor (due to easy access to ERP software), your business will face huge losses. To add more, it will tarnish the business reputation as well.
7. Inaccessible Information: A business does not work only within four boundaries of a wall. Due to this reason, a business should keep its applications as well as data mobile so that employees can access it from anywhere at any point in time. A cloud ERP solution gives freedom to employees to use the software anywhere- in a cab, in a client’s conference room, or in a seminar. So, using the cloud ERP software ensures that your employees will not miss any business opportunity due to the unavailability of data.