in: Acumatica, Enterprise Resource Planning (ERP), Company News
Why is your business waiting to implement a new ERP solution? Are you expecting a better package to come along, or are you hoping the cost will go down? Or do you think you don’t need it?
A new white paper from the Aberdeen Group, The Cost of Doing Nothing: Why You Can’t Afford to Sit on an ERP Software Decision, provides detailed information on the potential impacts of waiting to initiate an enterprise resource planning system in your business.
Waiting to upgrade to the cloud or waiting to install new ERP packages is often costlier than you think. Every month you delay or decline to make your decision could be hampering the efficiency of your business and hurting your bottom line. This is what Aberdeen Group—a technology and services company that helps tech sales and marketing executives distill smart data science into actionable moments—concluded in their new white paper.
Download your free copy for more in-depth insights into why business’ who want to grow and remain competitive in our ever-evolving technological field should move forward with the decision to implement a cloud ERP.
You Can’t Afford to Wait: Implementing ERP Now a Business “Must”
It doesn’t seem like moving to a cloud ERP should be a hard decision. But deciding on the correct system that provides the best functionality, technology, and usability can be a challenge.
According to Aberdeen, the thought of committing to a new ERP system can cause companies to hesitate. Buying a new ERP system is a major investment; tearing out an existing system and replacing it with a new one is an expensive decision.
A surprising number of small-but-growing companies do business without an ERP system in place. For these companies to develop, they’ll need to move beyond spreadsheets–but many still hesitate to pull the trigger.
In a recent survey, Aberdeen found that 49% of these companies believe they’re too small to justify an ERP system. Some 26% believe they’ve functioned well without ERP in the past, and 23% think they’ll function well without it in the foreseeable future. (Respondents could choose more than one answer.)
However, Aberdeen also found that the lack of ERP is holding these companies back in many ways. In the same survey, 35% of respondents said that having no ERP caused redundant data in their organizations. One-third also said their business systems can’t interact with one another, and 28% admitted that their system can’t track their company’s business processes.
Once your company reaches a certain size, you’ll need to implement an ERP system, such as Acumatica ERP, to reach your full potential. There’s no reason to wait.
Business Performance Enhanced by ERP
Aberdeen notes that many companies that do use ERP systems aren’t achieving full value from their solutions. Among those that want to replace their current ERP systems, the top reasons cited are obsolete technology and a lack of features.
New England Tile is a company who needed to replace their existing ERP system. The company provides thousands of tile and stone options for interior and exterior home projects; owner Pat Mobilio decided to do an ERP upgrade due to the demise of their server and the lack of options from their current ERP solution. In 2013, they chose Acumatica.
“To have the kind of a system that does accounting, inventory and sales is a huge plus. To have all that functionality integrated together just makes our job a whole lot easier,” says Mobilio. “Acumatica makes us professional, modern—on the cutting edge of ERP software.”
Read more about how New England Tile’s decision to embrace a new ERP provided impressive benefits including improved connectivity, productivity, peace-of-mind due to a cloud-based ERP, and ongoing monthly savings.
Many companies are happy with their current ERP but choose to update it anyway. In the Aberdeen survey, the top reason, by far, was a desire to take advantage of new functionality. For companies like these, the light is “on.” They know that implementing a modern ERP and staying abreast of the latest version is an important part of growing their business.
Making the big decision to move to a new ERP platform has a measurable positive impact on your business performance. According to Aberdeen, implementing a new enterprise resource planning system does indeed have a major positive impact on a business.
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