There comes a stage in every business’s life cycle, where things can get slightly…. out of control. Sudden exponential growth may leave your processes a little overwhelmed and your team, unsure how to proceed. We’re not saying that switching to a new ERP solution will magically solve all your business conundrums. But it will definitely allow your employees to find a better footing and streamline processes.
Let’s discuss six signs that it’s time to use a new Enterprise Resource Planning software. But first, a quick introduction:
What is an ERP Solution Exactly?
ERP stands for Enterprise Resource Planning. It is a system designed to do exactly what the name suggests: plan your enterprise’s resources in an efficient manner. It’s an effective system that allows businesses to deal with the problem of ‘resource misallocation’ and avoid a situation where they are rapidly bleeding cash. A good ERP solution will put a band-aid on the wound, stop the bleeding, and help you identify underlying problems with the business.
In practice, an ERP solution is an platform or software that will let you streamline business processes by allowing you to store information in a centralized location and share it across the organization. That’s pretty much the gist of things, but some ERP solutions are more feature-rich than others. For example, Sage 300 provides business intelligence analytics, a full-fledged CRM (saving you lots of money in the long run), accounts payable automation, and our favorite, warehouse inventory control, so you don’t have to micromanage every single thing.
And now, let’s go over the tell-tale signs your business may need a new ERP solution.
It Takes Forever to Access Business Data
Going through thousands of files manually is inefficient and time-consuming. This will plummet your productivity across all departments. It becomes even more of a problem if you’re working on multiple spreadsheets. Instead of spending hours finding information, you can switch to an ERP solution that can generate information in real-time, on the go.
Many businesses have multiple access points for information. This can be a problem because accessing some of this information may not be possible on mobile phones. And even if you could access it on your phone, you’re forced to search through the data manually. This can be a time-consuming task for you and may frustrate your customers. It can be particularly embarrassing if you’re in a meeting.
A good ERP solution will provide your business with a uniform point of access to all your data on the go, in real-time, and from anywhere in the world. You get access to a Single Source of Truth (SSOT) that increases data visibility, accuracy, and control.
Lack of Integration
If the ERP’s technology has been outdated and integrating with new systems becomes difficult – or almost impossible – it’s time to upgrade. Older ERP solutions are so clunky and inefficient that many businesses are forced to reinvent their internal processes to make things more compatible. This may work in the short run, but it will become untenable in the long run as your processes become a mess of hotfixes designed to compensate for an outdated ERP solution.
If this is you right now, then it’s time to upgrade to a new ERP solution.
Lack of Support
ERP systems are not always straightforward and self-explanatory, you’ll need help here and there. You might also need the occasional software update to ward off malware attacks. This becomes a problem if the company that installed your ERP has been merged, acquired, or simply gone out of business. This is a possible data breach (and PR disaster) just waiting to happen.
It’s time to find a new ERP solution that will promptly rectify this and provide your business access to the best tools in the business.
Accounting is too Complex and Time-Consuming
One of the biggest downsides to relying on an outdated ERP solution is inefficient accounting processes. If your team uses paper-based invoices and is forced to spend hours with manually entering the information, you are wasting time and money.
The same applies to accounting – if it takes too long to compile financial information across your systems and through spreadsheets, consider upgrading to a new ERP solution. With all your financial data in a single database, your accountants will be more productive, freeing them to deliver important reports without any delays.
Your Employees are Complaining about the Slow and Clunky System
If you’re getting a lot of complaints from your employees, and more importantly, your customers, then it is a sign that your current ERP solution is needlessly difficult and time-consuming.
Outdated processes can adversely impact your customer experience. For example, your salespeople will find it difficult to remember each and every detail related to a customer since there is no consolidated database maintained to provide them with instant information. If customers get the slightest hint that their needs are being neglected, they will take their business elsewhere. This can be damaging to your bottom line.
Consider upgrading to an ERP solution like Sage 300 with a CRM in place. This will provide your salespeople with all the relevant information they need at their fingertips. They will know who the customer is, what products they are interested in, their past interactions, and more. A good ERP solution will enable your employees to serve customers in a more personalized manner.
Your IT Systems are Lagging Behind
If your IT systems are too sluggish, this could have a major impact on your business and lead to higher costs. High-end ERP solutions can reduce the burden on your IT department. This means fewer security threats, updates, and being able to keep up with the requirements of the business as a whole.
ERP solutions are used for optimizing business resources, and the fact is that they can achieve so much more, like consolidating data, saving your time and efforts on tasks, and improving communication. An ERP solution can become an asset to your copay. With the appropriate tool, like Sage 300, you can improve productivity, enhance client relationships, and boost revenue.
Have a discussion with your employees about your business requirements. Understand their pain points and what processes can be fixed with a new ERP solution.
Finally, make a list of your requirements and try to get the most suitable ERP for your business. Get ready to install an ERP solution that is best for your business.