Should we upgrade our ERP system? That’s one loaded question, right? However, your ERP system might be out of date and too complex to handle your industry’s challenges. Should you upgrade to an enterprise management solution?
Globalization, increasing competition, the constant need to expand revenue bases while cutting costs are among the many changes significantly impacting industries such as distribution and manufacturing. It’s tougher than ever to be competitive, and as a result, too many businesses are saying, “We just cannot!” when it comes to accessing the data and real-time operational insights they need to make smart, timely decisions, collaborating effectively across departments and partners or monitoring, reporting, and complying with financial regulations.
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Those are some really vital operational functions to not be doing!
Today’s manufacturers and distributors ideally would like to evolve and grow quickly and confidently, leveraging digital technologies to automate processes and control costs. If that’s also true of your business, then it may be that your old-school accounting or ERP solution is too inflexible, complex, and outdated to promote future success. Instead of making you more agile in the face of rapid changes in your market, these legacy systems are actually increasing inefficiencies that undermine organizational profit margins and growth.
If you recognize you’re not working faster, simpler, and more flexibly than you need to, then you’re ready to incorporate a more modern enterprise management solution. If you’re still not sure whether you need a new way to manage your business, here are three strong reasons to upgrade your ERP system – sooner than later!
Grow your business with confidence: Your mandate to grow is always a priority. That means you need to keep up with evolving market conditions by ensuring that your business is agile, responsive, and connected. Today’s enterprise management solutions integrate and streamline your departments.
Real-time business decisions: The right enterprise management solution provides real-time reporting business intelligence for executives, managers, and leaders who need to see what’s going on across their businesses. It also provides built-in analytics, delivering deeper insight into their operations while accelerating reporting, communications, and decision-making. Your solution should include: real-time monitoring of performance and costs; actionable data intelligence for accelerated reporting and communication and integration across all departments with a single view.
Reduce IT costs: Modern enterprise management solutions were built to provide the functionality, security, and scalability at a fraction of the cost and complexity of legacy ERP systems. They also simplify the management of international trade across suppliers, contractors, partners, and customers and can manage a global business from one common installed instance – global compliance, multi-legislation, multi-ledger). In short, reducing IT complexity frees up resources, enabling businesses to focus on more important projects.