Top 10 Reasons To Replace Your Current ERP Software

While you are already used to your present ERP system, it can be a daunting task to shift to an updated enterprise resource planning system. However, if your business is witnessing the following scenarios, you have to transition to a new and updated ERP solution, whether you like it or not.

Having a reliable IT software partner or an ERP service provider to help you through finding and implementing the right ERP relieves the burden.

Here are the top 10 reasons for implementing an updated or new ERP system:

1. Current ERP Offers Ineffective Insights

When you have implemented various IT solutions to take care of different business operations, it’s difficult to expect actionable and impactful insights from the collected data. This is a dreadful situation as every strategic decision you would make using this data would be imperfect and ineffective. As companies rely on credible ERP systems to integrate all of the business data under one easy-to-access environment, having an updated ERP will allow you to clearly see the benefits/disadvantages that can have an impact on your company’s future.

2. When Your ERP Is No Longer Able To Handle Your Business Needs

One of the reasons you have ever bought ERP for your business was to be able to handle growing business needs efficiently. You expect your ERP system to help you manage a growing business and demands. However, if your current ERP is costing you a lot in terms of maintenance fees and license fees and is failing to manage the increasing team and operational load, you must change it.

3. Failing To Address To Customer Needs

Irrespective of the sector in which your enterprise works, your customers, distributors, suppliers, and other stakeholders always want access to the business data such as shipping, billing, and inventory. They do not want to complete the long process of requesting access to the data of their mean.

This is exactly where the modern cloud-based ERP systems offer instant help. They allow quick data access anytime from anywhere. Enterprises across the world consider onboarding new ERP systems for the same reason.

4. The ERP Can’t Fulfill The Updated Regulatory Requirements.

It is important for any business management system to meet the regulatory requirements of the region/country in which it operates. If your existing ERP solution is not adherent to the regulatory requirements of the country in which your business operates you must look for a new ERP system that is adherent to the regulatory requirements. These regulations tend to get updated regularly, and you must choose an ERP system that is flexible to comply with new guidelines and make the business process smooth and hassle-free. Typically, the traditional legacy ERP solutions fail to meet the evolving regulatory needs, and thus, businesses prefer an updated cloud-based ERP solution.

5. Expensive IT Infra That Does Not Yield Big Performance Gain

Many companies tend to spend a lot of resources and money on creating dedicated or separate IT infrastructure for each business department, adding to cost overheads and causing performance-drop and lack of positive results. This is exactly when a business should go for an integrated ERP solution backed by cloud service. Having a single integrated system in the business can help you deal with critical business needs.

6. Need For An Improved Inventory Management

Disconnected business departments are never going to help in the maintenance and management of inventory. Each department has to be in sync with the inventory collectively. If you run a business where each department is connected separately to the inventories, calculating the inventory precisely and timely becomes difficult. On the other hand, having a comprehensive and integrated ERP system will help you manage the entire inventory effectively through a single software.

7. Safety of Sensitive Data

Cybersecurity threats are common now. Staying updated with the latest competitive technologies comes with a risk of exposure to hacking attempts and security threats. Hence, a business must look for an ERP system that is robust enough to offer data security. This is something no business can compromise with. An ERP solution with cutting-edge security features mitigates the security risks and vulnerabilities to a great extent.

8. Rise In Maintenance Cost

Mitigating the maintenance cost is important for improving the business and boosting its competitiveness. In case your business has to pay a hefty amount to manage an on-premises hosting service, you must consider installing a cloud-based alternative that can offer you other features at a pay-per-usage scheme. An integrated cloud-based ERP solution in Dubai will offer you the benefits of an efficient system at a lesser cost as compared to your existing on-premise system.

9. You Are Done With Server Downtime

It is of huge importance to keep the reputation and consistent business growth in any business. Customers never like to wait to get their problems to get sorted out. They seek a quick resolution of their issues. Hence, a smart business ensures a faster resolution, great performance, and complete zero downtime in its digital interactions. Cloud ERP systems help businesses in achieving a complete makeover when it comes to performance.

10. There’s no transparency across the business

Updated ERP is needed when you don’t have access to important data that is required to make crucial business decisions. Traditional ERP systems are usually siloed and hence fail to offer a unified source of enterprise-wide data.

Conclusion

Businesses do not have to suffer from any pain to make an ERP solution worthy of their investments. Businesses have to analyze their own performance and business process and decide if their next months would be better if they continue with the existing ERP.