Growing businesses often outgrow their basic accounting software because it was unable to keep up with increased inventory and transactions, lacks integration with other line-of-business systems, and has reporting limitations. Customers using legacy ERP systems feel the pain around scalability and mobility. So how do you know if you have outgrown your ERP system and what impact it has on your organization?
Do you recognize any of these warning signs:
- Reporting is complicated and provides insufficient information?
- Duplicate data entry into multiple systems is a daily routine?
- Does accounting occur in Excel, not your financial system?
- Systems are disconnected, and the information is siloed?
- Lack of secure workflows and audit trails increase risk?
If any of this sound familiar it is time to make a change. I know, deciding to overhaul your accounting software or business management systems may seem like a daunting task. But what is the real cost of trying to maintain a system that is no longer keeping up with demands? Whether the result is lost sales, customer dissatisfaction, or compliance risks, failing to update your technology can be a costly decision.
So, the signs are clear; you have answered YES to the questions I posed earlier, NOW WHAT? There are lots of options out there, and you need to be looking for these characteristics in your ERP platform:
- Complete Integration – Find one solution that can not only manage your financials but also CRM, sales, service, and operations and can easily connect to other applications like payroll, banking and other custom API’s. You want an ERP application that will pull all your systems and processes together, so your staff does not have to!
- Provides Business Insights – Data is centralized so that you have access to accurate reports and can produce ad hoc reports and analyze data quickly. You want to have custom dashboards so you can view real-time data and can spot trends quickly.
- Proven – You want to select a system that has been developed by a trusted technology leader. A system that has a proven security infrastructure and can easily grow as you grow.
- Mobile – We all work differently today. The days of sitting at your desk and working on one computer from 9 to 5 are gone. You and your team must view data and do our job at anytime, anywhere and on any device.
- Easy to learn – user adoption is critical and selecting a system that is easy-to-learn and has a familiar user interface is a must.
I hope this information helps you spot the signs if your organization has outgrown it’s ERP System. If the signs are there, it’s time for you to take the next steps for your business. There has never been a better time for SMB’s to update their ERP Systems and update their capabilities, create greater efficiency and mobility and to be prepared for growth and changing business conditions. So if you answered YES to any of these questions, please contact me at firstname.lastname@example.org, and we will take the next steps together for your business.
STEPHEN REID | Account Executive
Stephen Reid is a business development representative at KTL Solutions, a full technology consulting firm. Steve will work with new and existing clients to identify areas where they can better utilize technology to improve processes and increase efficiencies in their organizations.
As a consistently top-performing sales executive, Steve has built a successful career around his ability to assess and anticipate customer needs, identify unique alternatives, and develop and implement long-term solutions. Throughout his more than 25 years of B2B strategic sales and marketing leadership, Steve maintains a genuine commitment to ongoing client service and satisfaction which has allowed him to grow strong, sustainable partnerships.