If you are an expanding small business, chances are you’ve faced a dilemma on deciding how to invest for the greatest return. As time progresses and you transition out of startup mode, you’ll notice that ad-hoc reporting does not produce the same results it once did. Similarly, chances are you will experience hindered growth and profitability. The solution to these business challenges lies in Enterprise Resource Planning (ERP). Chances are you’re stumbling along working off of a combination of spreadsheets and disparate systems to store your data. You’re probably thinking to yourself, “ERP is too complicated and how can we afford it?” when the real question you should be asking yourself is, “Can we afford not to invest in ERP?”
Neglecting to invest in appropriate enterprise business systems can significantly hinder the progression of your business in the right direction. Some warning signs that you need to invest in ERP include:
Ultimately, you want to be able to manage complexity, increase cash flow, and forecast to achieve a competitive advantage. As complexity increases, so do your requirements and regulations. The table stakes increase with growth and the global economy is making it more challenging to maintain a competitive advantage. In a performance-based culture like ours, it’s crucial to have strong processes, audit trails and relatable data that is immediately accessible. Neither spreadsheets nor non-integrated, outdated applications can compete with the added value an integrated ERP system can bring to the table.
The overall goal of ERP is cost savings, but you need to spend money in order to save money. Stay tuned for next week’s blog post where I will go into further detail on the benefits of ERP and why now is the time to act on it. Contact Third Wave and find out how to position your organization for future growth!