5 Strategic Reasons for Replacing Your ERP
If you’re thinking of replacing your Enterprise Resource Planning (ERP) solution, you probably have very good reasons for doing so because it’s a big commitment. But with that big commitment comes big benefits. If you’re holding back, consider these five strategic advantages of a modern ERP solution, from mobility and security to maintenance costs and scalability.
Reason #1: Elevate and Streamline Your Technology Efficiently
Implementing an ERP system has historically been a nightmare, requiring months for development, implementation, testing, and training–and downtime, as well. Modern, cloud-based ERP solutions don’t require an extensive installation, and workloads typically can be migrated very quickly, reducing or even eliminating downtime.
Reason #2: Decrease Security Risks
ERP software handles sensitive, business-critical information, data that you must keep secure. Modern, cloud-based ERP solutions offer security that protects your data throughout, from internal and external threats. If you are breached and data is lost or corrupted, your data is safe in the cloud.
Reason #3: Minimize Maintenance and Support Costs
Legacy, on-premises ERP solutions can cost you big. Not only do you have to purchase the software and updates, but you also have to keep the hardware that supports it up to date. You also need an IT team that can install and maintain it. Modern, cloud-based ERP solutions typically require a flat, monthly fee, so the total cost of ownership is lower from the start. You can also save money on IT resources by having your partner manage the solution for you. And finally, you can sign up for a support plan that will take care of future updates. All this means lower expenses across the board.
Reason #4: Improve Your Business’s Ability to Grow, Expand, and Scale
On-premises ERP solutions can be very costly to adapt to growth or change. If you are growing or poised for growth, considering entering into new lines of business, making changes to how you do business, or you have a business that has natural ebbs and flows (seasonal, for example), be prepared for a major development undertaking. With a modern cloud ERP, scaling is much easier because of the nature of cloud applications. You simply scale up or back depending on need, and that’s what you pay for, and the structure of modern ERPs is more like app development, making changes much less time-consuming and costly.
Reason #5: Support Merger and Acquisition Initiatives
With a single, centralized ERP instance, which cloud-based ERP solutions offer, you can quickly merge operations, eliminate uncertainty, and realize the value associated with M&A. The absence of a single system brings complexity, which not only increases costs and hinders agility, but also prolongs the M&A integration timeline. You can simplify processes and standardized on a corporate system, saving dollars, increasing employee productivity, continuously innovate based on customers’ needs, and rapidly integrate acquisitions.
Want more reasons to switch? Read our blog, 5 Practical Reasons for Replacing Your ERP.
To learn more about ERP software selection, read our comprehensive article, Selecting the Best ERP System: What You Need to Know to Make the Right Decision.
Contact ArcherPoint to discuss your goals for a new ERP solution and get a free assessment!