Enterprise Resource Planning (ERP) is how small to medium sized businesses are staying ahead of the curve in today’s business landscape. We’ve mentioned before how an ERP solution can improve your company’s efficiency and reduce costs, yet many company’s are using outdated or convoluted legacy ERP systems which could be doing just the opposite.
So we decided to use our 15+ years of experience with ERP systems to tell you exactly why you should implement a modern ERP solution!
WHY USE ERP?
Reliable Data: To make the right business decisions, you need access to the right information at the right time. With an ERP solution configured to your specific needs, you can rest assured that you are receiving accurate data to make smart decisions. Even if you already have an ERP solution in place, years of minor tweaking and connecting with disparate systems may have turned it into a convoluted mess of obscure information. With a new ERP solution, your business can put its trust in an up to date and reliable system.
Transparency: A huge boon to business is being able to identify which products and departments are saving/providing money and which are falling behind. With an ERP solution in place you can pin point exactly which areas need to be addressed accordingly. By being able to quickly decipher where your company’s strengths and weaknesses are, you can improve profitability before losing it.
Reduce Total Cost of Ownership (TCO): While it may seem like a large investment at the time, the cost-saving benefits of an ERP solution will out-weigh the initial expenditure on the solution. Even if your business already has a legacy system in place, maintaining an outdated ERP solution can cost an indefinite amount of time and resources as well as limit new opportunities. An ERP solution needs to be looked at in terms of eventual return on investment, not it’s immediate cost.
Integration with new technologies: With the rise in use of the internet and technology for business, it would severely inhibit a company’s ability to advance and grow if their systems did not stay up to date with current tools and trends. Mobile technology and social media is heavily influencing enterprise resource planning these days, so even businesses that already have an ERP system in place will lose out if their solution is unable to integrate with modern applications. Speed and accuracy are always being improved, so being able to update your ERP system to meet these demands is tantamount to staying ahead of your competition.
Increase user interaction: One of the big benefits of a modern ERP solution is that they are designed to be used by everyone involved in the implementation. Most legacy ERP systems have been put in place by a specific set of people, which can cause drastic communication issues when other users need access or upgrades. By having a fully integrated modern ERP solution, your business will benefit from company wide interaction and smooth upgrades to newest releases of the software.
Those are some of the most important reasons to implement/update an ERP solution for your business. Stick with us for more blogs designed to help you understand the world of ERP and CRM, and contact an ECI representative today to find out more about our ERP solutions!