As a business grows and evolves, the enterprise software it uses ought to evolve as well. But how do you know it is time to upgrade your enterprise software for good? This is one critical question where most of the business leaders and tech experts find themselves in.
Simply put, if your enterprise management software fails to keep up with your business’ pace, it can hamper your company’s operational efficiency, performance and most importantly, growth.
Putting it in a layperson language, think of a business solution as a personal computer or laptop, you invest your time and money to maintain, configure and update it in order to keep it up and help run at its optimum best. Similarly, enterprise management system or enterprise resource planning solution also referred to as ERP software is no exception since you need to maintain and upgrade the same on a timely basis in order to keep up with your growing business.
Now for this, it is advisable to watch out for all those flashing signs that reflect the need to reboot or upgrade your enterprise software for good. Here are three telltale signs it’s time to upgrade your enterprise software this year.
Lack of Business Intelligence and Analytics
Enterprise software plays a pivotal role when it comes to decision making besides helping to manage as well as streamline critical business processes. In today’s cutthroat business competition, it is essential for enterprise software to deliver intelligent insights into key business processes along with providing a 360-degree view of all the processes. Here are few alarming sights your enterprise solution is simply failing to offer the much-needed visibility thus, failing at delivering business intelligence at your disposal leading to flawed business decisions.
- Lack of real-time business intelligence/analytics
- Lack of insights into operational efficiency and performance
- Lack of control over operational processes
- Lack of relevant data
- Lack of flexibility
- Lack of data accuracy
Lack of Mobility, Flexibility, and Agility
With the business ecosystem becoming increasingly mobile and remote, your ERP solution ought to adapt to this change by enabling users to access certain key features on their smartphones on the run irrespective of the location.
By facilitating the users to access and work on the fly, next-gen ERP software paves way for agility and efficiency in business operations.
Failing to comply with new and evolving regulations/rules? Failing to expand into new geographies? If yes, then it is time to relook at your system’s abilities and architecture to ascertain whether it is agile and adaptable to keep up with evolving business needs and challenges.
Your enterprise software should offer advanced features to help monitor several business areas and processes thus, facilitating you to scale up minus bottlenecks. Most importantly, it should be integrated easily with various other business solutions that you might be using.
Lack of Versatility
The recent technological turmoil is causing the business landscape to experience a sea change, which is predicted to surge with time. Thereby, for a business to capitalize on these panoramic changes, enterprise systems ought to be updated. If your existing enterprise software is preventing you to embrace these changes and capitalize on the same, then it is time to think now before you lose that competitive edge.
Many legacy and standalone enterprise solutions lack clarity and involve several outdated processes and functionalities thus, preventing a business leap ahead. Further, it takes a lot of time to master a legacy application or solution. With the business ecosystem developing at lightning speed, even the minutest of changes can leave a huge impact on a business, which is why it is advisable to lookout for the aforementioned signs.
Anwar Shaikh writes about business intelligence, cloud computing, and enterprise technology solutions including CRM and ERP software. A self-made writer and Digital Marketing Manager, Anwar writes for Sage Software Pvt. Ltd., a leading provider of cost-effective and user-friendly enterprise management systems to small and mid-sized businesses in India.