The key to thriving in a competitive marketplace is moving with the technological demands of your company, and whilst it is tempting to stick with legacy solutions due to upgrade costs, the cost of restricting business growth can be far higher.
When it comes to ERP solutions, it is true that not one size fits all and we’re passionate about that here at Pegasus. As a business grows, its needs change and a solution that once worked well may no longer be meeting the needs of the business.
How do you know that you have outgrown your existing software? Below we will examine some of the factors to take into consideration:
To stay competitive a business doesn’t just need good reporting, it needs reporting that is the best of the best. Are you spending too much time searching for data and making decisions on old or incomplete data? Successful businesses need flexible reporting that provides real-time data ready for extraction to ensure you don’t miss opportunities and reporting views that can be customised to meet your business needs.
If you are using multiple systems throughout your business to manage different functions, then it is time to consolidate these into one solution that can be fully integrated. This will make for greater efficiency and data sharing so that all departments can work together productively to better meet business goals. It will also make life much easier for your employees!
As your business has grown, the number of routine tasks such as data entry, invoicing and payroll will have increased too. Whilst these could have been manageable before, as your business has grown, they may have become too time consuming and arduous to manage which is a good problem to face! Most modern ERP solutions allow you to automate regular tasks to save time and enable employees to focus on more pressing matters.
If your legacy solution is not flexible or scalable it’s a big red flag. As your business grows you need a solution that can grow with you and allow you to add additional users, new functionality and expand to areas such as cloud technology. If your solution cannot be upgraded for five years then it simply will not work – the key to growth is flexibility and software which allows you to easily add users, new features and utilise mobile and cloud features so you can run your business from anywhere is critical.
If you are making decisions based on what your current software can do, then it is time to upgrade. For example, if you’re legacy solution won’t let you add new warehouses to your SCM management, which is stopping you from expanding your business then you need new software. Or if you need to recruit new starters but are put off because your payroll software only allows you to have a certain number of employees on it, then you should be looking to upgrade. Your software should work with your business, not against it.
Regulations and compliance requirements are constantly changing and keeping on top of these can be a monumental task and put your business at risk. Any modern ERP solution is equipped to manage your auditory requirements and regulations, so you don’t need to worry about missing anything.
An ERP system has become the lifeblood of many businesses and if you are paying to maintain a legacy solution which is hindering your business growth then it is time to invest in a newer system. Moving to a newer solution is a lot easier and cheaper than you would imagine, and will bring efficiency savings and increased productivity.
If you resonate with the circumstances above and would like to discuss our award-winning Opera 3 ERP solution, then get in touch to arrange a demo.
Posted On: June 30, 2022
