Debating whether you should upgrade your ERP system? Here’s a list of the key signs that your business is being held back by its current version.
Businesses often spend considerable time internally debating whether or not they should update their ERP system to the latest version, with many unsure just how they can tell whether the time is right or not to sanction an upgrade.
While some businesses may be sceptical of the upheaval that is associated with upgrading, often the disruption and cost are dwarfed by the benefits to profits and efficiencies that come with being on the latest update of an ERP system.
To help you better gauge whether the time is right for your business to upgrade their ERP system or not then, we have compiled a list of the key signs that your business is being held back by their current ERP system version.
1. No mobile functionality
With business in general becoming increasingly remote and about working on the move, your ERP system should complement this change in culture by allowing you to access certain features of the system on your mobile phone, regardless of your location.
While for the time being at least, mobile apps are not going to offer the same level of insight and features that you would get from your desktop, applications such as Unit4’s Travel and Expenses, which allows you to capture and enter expenses on the go, is an example of how mobile technology can make a huge difference to ERP system efficiencies.
By allowing you to work on the go, Unit4’s Travel and Expenses mobile app prevents the traditional backlog of expense claims, with it allowing you to make use of you time travelling to keep-up-to-date, preventing a mundane and time-consuming month-end task.
2. Lack of standard features
As time progresses, features that may have been considered not essential, or a luxury when you first implemented your current version, are likely to now be fairly standard practice within your industry and/or a modern ERP system.
Regardless of whether it is a system feature, such as integrated analytics/intelligence, or a functionality that is specific to your industry, not being able to utilise recent technology puts your business at risk of being left behind, especially if your competitors have access to the functionality.
Ideally, your businesses should be looking to make the most of not only standard features, but emerging, cutting-edge technology to ensure you possess a competitive advantage.
3. No vendor support
As with any software provider, there is only so long they will commit to supporting and updating an outdated version of their software, with them justifiability keen to spend their time developing and supporting the most recent version, and in most instances, the preceding version.
If you find yourself on an unsupported and outdated version of your ERP system, you may be tempted to stay on it until it eventually becomes inadequate.
While this may save money in the very short-term, leaving it too long to upgrade your ERP system means you will have to jump several versions in one upgrade, leaving your business having to tackle a substantial upgrade project. Your users are also likely to be faced with a whole host of new features and a different interface, leading to a more time-consuming and costly transition.