The need to consistently adapt and upgrade your ERP software business solutions is vital in staying competitive within your market and essential to the longevity of your business. This may often be overlooked due to high initial costs or long installation times, however doing nothing and avoiding an upgrade can prove even more costly in the long run.
Reap the rewards of new technology
New technology and functionality within ERP software is constantly progressing at a faster rate than ever before. With any ERP system, the capabilities will eventually become outdated in the sense that the functionality which was once fit for purpose may no longer fulfil your needs as a business. Staying at the forefront of your industry is vital to ensure success, which is why new technology is a key consideration when choosing whether to upgrade or not.
In today’s business environment, time is money… so you could conclude that the more time you have the more money you are able to generate, but this also works the other way. Errors, systems running incorrectly and compatibility issues can result in wasted time, which can ultimately add up and result in lost revenue across the board. Companies must recognise the need to adapt to new technology to enhance their customer experiences, particularly against their competitors.
Being able to remain competitive within your market is essential in staying successful and meeting the needs of your business and customers. If competition within the market takes advantage of new capabilities, this could see your business fall behind in terms of ability to offer customers what they want, which ultimately can result in loss of revenue.
New opportunities in Cloud ERP
With the emergence of Cloud ERP solutions, many smaller businesses can now take advantage of the benefits traditional ERP has to offer, at a fraction of the cost. Subscription based services enable SME’s to adopt ERP solutions while still remaining within their yearly budgets and allowances for IT and improvement.
With this being the case, many smaller businesses which may not have been able to compete on a larger scale could now become prominent players, which outlines the need for businesses to constantly adapt their current ERP or consider using one if they do not already.
Businesses that continue to operate on disparate systems, making do with what you have so to speak, will only inhibit your growth and scalability as the business tries to expand. For many smaller businesses that may feel the costs incurred from an ERP solution are just too high, Cloud ERP can be an affordable way to improve efficiency, lower your operating costs and allow growth.
The true cost of your legacy ERP system
Choosing to scrap your old legacy systems and starting a fresh may be a daunting idea at first, with new systems, training, support and other services needed it may be easier to just brush the idea of an upgrade under the carpet. Although once you have considered the true cost of your legacy systems, it might not seem like such a bad idea after all.
The older an IT system gets, usually vulnerabilities will begin to form, this could for example be security issues. With technology advancing at such a rate, the capabilities of hackers and cyber criminals also follows suit, with them being able to manipulate vulnerabilities within a system more easily. This can be a serious cost to any business in rectifying the issues in the event of data loss or a complete system being shut down.
Legacy systems also tend to be slow and require large amounts of maintenance to ensure the vulnerabilities within the system are not compromised, this also incurs high costs while also taking a significant time to implement these changes. All of this results in a decrease of productivity/efficiency amongst your employees through further downtime and errors within the system.
Do you think it’s time for an upgrade?
Do you think it’s time for an upgrade, but not sure where you need improvements? At Syscom, we can provide your business with a complete system review to identify where your existing software, or support, could be improved or upgraded. Find out more now
Are you experiencing any issues with your Microsoft Dynamics ERP software? Are you considering upgrading? It's also worth remembering that issues could be coming from your support partner, rather than the system itself.... learn about our Dynamics Medic Service.