In several instances, investing in a new Enterprise Resource Planning (ERP) solution or upgrading the current ERP solution ends up on the lower spectrum of prioritization. A recent study showed the top reasons why. In several instances, investing in a new Enterprise Resource Planning (ERP) solution or upgrading the current ERP solution ends up on the lower spectrum of prioritization. A recent study showed the top reasons why.
- We are too small
- We have been able to function effectively without it
- he cost is not justifiable
If these justifications seem reasonable to you, consider what these statements truly mean. Either the business does not intend to grow or you are unaware of how your current technology is holding the business back. Businesses that don’t implement an ERP solution reported challenges they face such as redundant data, lack of collaboration capabilities, current systems not tracking business processes and inaccurate data. If data is not accurate, decisions made based on that data will also be inaccurate.
The report states that businesses on the latest version of an ERP solution performed better in days sales outstanding, complete and on-time delivery, internal schedule compliance, inventory accuracy, customer satisfaction and the ability to make informed decisions and act more efficiently.
“Inaction is not an option. Whether you have not yet implemented ERP, or are running an outdated and inadequate version, the short-term benefits are far outweighed by the long-term consequences of waiting to upgrade. Through the support of new best practices, functionality, and emerging technology, Best-in-Class organizations make sure to continuously upgrade and optimize their solutions, to stay ahead of the competition.”
The Aberdeen Group