Six signs that it’s time for an ERP system

Taking on – or updating – an ERP system takes time, staff and budget. Many business owners say they just can’t find the resources to implement one.

While updating or implementing an ERP system can look like an intimidating and expensive project, the gains from increased efficiency and improved operations are a good long-term investment.

Changing your core software affects your whole business – and the people in it. How do you know that the time, training and disruption involved will be worth it? Here are six reasons for making the leap to an ERP system.

1. Small inefficiencies are adding up

Chances are that there are more efficient ways to accomplish many of your business tasks. Tech moves fast, and the loss of efficient processes is a hidden cost, especially for non-cloud software.

If you have an outdated ERP system, it redirects resources into maintenance instead of allowing you to focus that money and energy on solving real problems.

READ THIS NEXT: 14 ERP system benefits to consider in the selection process

2. Business needs are outgrowing capability

An ERP system can help business owners manage a growing company. If your current systems aren’t integrating well, or incrementally increasing maintenance fees and limited-user license fees are adding up as the team’s headcount grows, you may be dealing with business systems that don’t scale well. ERP software will support and streamline your team’s growth – not hinder it or generate more work.

3. Customer needs aren’t being met

Customers, suppliers and partners expect direct access to billing, shipping and inventory data. They don’t want to call someone to get this information and business owners don’t want to generate unnecessary customer service calls.

Older systems sometimes aren’t designed for multiple user access and may be less customer-service oriented. An ERP solution can provide instant, anywhere access with real-time information. If you’re not providing that business value, your competitors might have an edge on you.

4. Your workplace dynamics are changing

Today’s business owners are often working with employees or whole branches in remote locations, due to telecommuting or hiring offsite contractors. Operating with a business model that depends on a centralised office is simply not practicable anymore.

5. Employees are mobile and information needs to be, too

Leveraging the potential of this decentralised world, more and more of the workforce is doing work from mobile devices on the road, using tablets, laptops and phones. A cloud-based ERP solution turns this mobility into a clear business advantage by providing a seamless transition experience from the office, to home, to mobile, and back. The cloud empowers scalability as you add employees – anywhere in the world.

READ THIS NEXT: 9 step ERP implementation plan for business operators

6. You don’t have access to real-time information

If you have to dig for up-to-date information, it slows critical decision-making and impairs problem-solving capacity. With the business intelligence capabilities available in today’s data-driven business environment, it’s going to be critical to add the value of interpretation and curation to that information. You need to know what parts of your business are working and what aren’t – and you need to know fast.

If you’re a business owner looking for a way to really make an impact in your overheads, scalability and growth potential, consider the leap to ERP software. With the time and efficiency gains you’ll almost immediately see, you’ll be able to sharpen your focus and shift your budget to mission-critical growth goals.

For more about MYOB’s ERP solutions – for all types of businesses – visit the website.