As the essential component of integrating your business operations and data, an outdated enterprise resource planning (ERP) system with decreases in performance can be holding your company back – creating inefficiencies, causing ineffective decision-making abilities, and increasing company costs. In order to remain competitive in today’s business climate, it is necessary to keep up with new demands and technology with the latest ERP software solutions available for use in your industry.
Here are some of the top signs it is time for ERP software.
Significant Company Growth
If your company is experiencing significant growth including an increase in business transactions, new products, and services, expansion into new markets, or movement into completely new products or services, it may be time to consider a new system. With the new requirements, these additions require, your current solution may be unable to handle the increase in data or tracking. In addition, it is important that the ERP software solution be scalable for future growth as well.
Expensive to Maintain Current System
If your current ERP software solution costs too much to operate, with antiquated hardware, increasingly unreliable technology, and high maintenance costs, it may be time to replace your older system. Despite the perceived high expense of a new system, older systems can often be extremely expensive to operate, especially if the vendor no longer supports the software.
Technology Unsupported by Vendor
A common problem is a company’s dependency on legacy ERP software systems or the underlying IT infrastructure – lacking a vendor to support the solution. There may only be a limited number of employees within the business that know how the software runs and works. Investing in an upgraded ERP solution may prove to be a beneficial and necessary solution to provide ongoing maintenance and support.
Lack of Mobile Functionality
With business becoming increasingly mobile, it is imperative that ERP software today meet the needs of this dynamic workplace by offering on-demand availability, from any location and device. If your current solution does not allow your employees to remain as productive on the go as they are when accessing applications from a desktop PC in their office, it may be time for an upgrade.
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Inefficient Integrations
Integration with other business systems is essential in today’s business climate. If you currently utilize old ERP software that is not integration-friendly, requiring the creation of manual workarounds to make integrations work, a change could be in order. Modern ERP software packages are more open to integration, working in partnership to automatically transfer your data across multiple programs and platforms – ensuring business systems work together seamlessly and efficiently.
Regulatory Concerns
Keeping up with regulatory and compliance changes is important in many process manufacturing businesses and it may be difficult for older ERP software to manage changing regulations, thus leading your company to legal complications and fines. ERP software vendors today have the ability to stay compliant with current regulations and consistently update the software to meet the requirements of new laws – making it a great reason to upgrade your ERP software.