Is it Time to Upgrade Your ERP Software?
ERP has quickly evolved in recent years. Once considered a relatively static solution dedicated to managing operations and the supply chain, it now encompasses technologies like artificial intelligence and blockchain. With those capabilities serving as catalysts for digital transformation, some businesses leverage ERP software to enhance the customer experience and drive revenue. As a result, companies of all sizes are wondering whether it’s time to upgrade ERP software.
Making the switch to a new ERP solution can be a significant undertaking. How can you tell when the time is right to upgrade your ERP software? Here are three tips on how to know if you’re ready to update your ERP.
- Get the lay of the land. Begin by evaluating how well your current ERP systems support your company’s top business priorities. ERP solutions designed in a prior era with legacy technology to match may not sufficiently support your current business needs.
- Consider how much control you need. Many businesses accustomed to legacy on-premises solutions will find the prospect of giving up control an adjustment, whether it comes to security or software updates. For others, data sovereignty — the issue of who owns and controls data residing within an ERP — is also an issue. Spend some time thinking about exactly what level of control you must have and how those business requirements will inform your ERP strategy.
- Evaluate staff’s knowledge and abilities. While cloud ERP systems can enable impressive digital transformation, frequent software updates can also pose a burden for IT staff and require new methods of managing applications. For these reasons, consider investing in staff education on new technologies now so that your workforce will be better equipped to realize the value of those technologies and understand how to apply them to your business priorities.
Upgrade ERP software and accomplish your business priorities
Companies that choose to proceed with their current ERP software and a few short-term technology fixes may struggle to improve the customer experience, achieve greater agility, or reduce costs. As a result, they may find that decision ultimately hinders their business success.
It’s best to let your business priorities guide your approach. A company focused on revenue growth, for example, might take a cautious approach to the cloud and instead focus on updating current systems. A business that seeks to improve the customer experience will likely be more incentivized to make technology investments, looking at both the cloud and on-premises ERP with equal interest. Whatever your business priorities may be, you should pursue the ERP strategy to help you accomplish them.
Contact Yeo & Yeo Technology to learn more about our ERP solutions and how they can benefit your business.
Information used in this article was provided by our partners at Sage.