If you’re wondering whether it’s ever the right time to update your old ERP system, then you’re not alone. There’s a good chance that your old system is outdated, and it may be hurting your business’s efficiency. ERP updates are a pain point for many business owners, and as a result, old systems are still in effect while the perks of a newer version never get a chance to shine. Changing such a large system within an organization can be an ominous endeavor as it touches every part of your operation, but there are a great many benefits to updating your old ERP system.
Industry Regulations Are Calling
Staying up-to-date with regulations is imperative for keeping your business running. Industry compliance regulations and tax rules change frequently, and non-compliance can bite your business hard. If for no other reason, updating your system is an important part of maintaining compliance within your industry and managing the financial health of your business. ERP updates help keep you in compliance so that you can dodge costly fines.
Your Business Is Growing
The great thing about ERP solutions — especially cloud ERP systems — is that they are highly scalable. With a growing company, there comes a time when you are stretching your technology too thin. If you are ramping up your staff, taking on new processes, or drumming up more business, there’s a good chance that your ERP system needs fortification to ensure your technology can keep up. If you find yourself managing processes outside of the system simply because you are avoiding an update, you may want to take a look at what it is costing you.
The ability to adequately serve customers as you scale up is one of the major growing pains of an evolving company. If your customers cannot gain direct access to pertinent information, or if you are losing the ability to accurately track customer interactions, then it’s probably the right time to update. Updates can help you limit unnecessary support calls and emails, and most importantly, they can also keep your reputation intact. Newer ERP systems tend to be more customer service oriented and can help you stay on track with your most important asset — the patrons of your business.
Your Workflow is Changing
A few small inefficiencies can be easy to miss, but if you start noticing them cropping up everywhere, it may be time to take a second look at that update. Every small inefficiency costs you a sliver of money, and bundled together, those slivers can add up to quite a bit. Newer ERP versions come with new tech, and new tech comes with new opportunities to streamline not only new processes, but existing ones. The latest ERP system can offer more mobility, providing easier access to data from anywhere you, your employees, or your customers may be located.
If you think you don’t have the time, money, manpower, or the ability to handle such a disruption yourself, there’s good news. Third-party ERP consultants have literally made it their business to help you. By limiting the amount of time and energy you’ll have to expend in order to make the switch, you are freed up to focus on the bigger aspects of your business. You can simply soak in the benefits of your update and experience greater capability, newer technology, a refreshed design, better customer service, greater mobility and access to data, adherence to new regulations, and peace of mind in knowing you’ve given your business all of the tools it needs to thrive.