How to know when it’s time to upgrade your company’s enterprise software. Three signs that tell you your software is in need of an upgrade.
Are you missing the signs that it’s time to upgrade your enterprise software? As companies evolve, the software used to manage a business must too. When your enterprise software doesn’t evolve with your company, it can hinder presentation and restrict the financial growth of your business.
Think of it like this, when we purchase a home, we invest in it by maintaining, updating and configuring it to meet our ever-changing needs, right? Enterprise software is no different. It too must be maintained and updated, as a company’s needs change. To ensure your software continues enabling you and not disabling you, it’s important for you to be able to be familiar with the warning signs.
Your enterprise software’s architecture and technology must be agile and adaptable so that you can keep pace with changes in your industry and so that you’re able to respond to today’s challenges. It should include functionality that is powerful enough to extend into other areas of your business, allow you to scale up or down at any time, integrate with your other systems and be able to keep up with new or altering regulations.
When your system lacks flexibility and agility, look for these red flags:
1. You’re unable to meet new regulations
2. You’re unable to diversify your business
3. You’re unable to expand into new territories
Solution: Consider upgrading your system so that you are able to adapt to change and respond to today’s challenges. As Charles Darwin once said:
“It is not the strongest or the most intelligent who will survive but those who can best manage change.”
In addition to managing and automating processes, enterprise software plays a vital role in company decision-making. For your business to make decisions quickly and accurately, your software must provide you with a 360-degree, enterprise-wide, top-to-bottom view of your operations.
When your system isn’t providing the necessary visibility or operational intelligence, look for these red flags:
1. The data you receive from your system is not provided in real-time
2. You’re unable to monitor the performance of your business against your business goals
3. You’re unable to optimize your operational processes
4. The data you’re able to pull from your system isn’t helpful or relevant
5. Your system isn’t mobile and it prevents you from having real-time visibility of your operation
6. Data cannot be displayed visually, preventing you from being able to make decisions quickly
Solution: Consider upgrading your system so that your business is able to make decisions quickly and accurately at any time, from most anywhere. As to why visibility and operational intelligence is important, I think media proprietor, Rupert Murdoch, said it best:
“The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”
With the rate of technological advances increasing, all industries are going through a chaotic and dynamic period of change that’s only expected to accelerate over the next ten years. For businesses to be able to embrace and capitalize on these industry and technology changes, your enterprise software must be able to manage and control change to limit disruption and benefit from it.
If your system is preventing you from embracing and capitalizing on change, look for these red flags:
1. Your system doesn’t integrate or utilize the latest technologies
2. Emerging technology is more disruptive than helpful
3. You feel your organization is losing its competitive edge
Solution: Ask your vendor what new and cutting-edge technologies they have available. New innovations are emerging every day so it’s imperative that you maintain your competitive edge by utilizing the tools available to you.
“Change is not a threat, it’s an opportunity. Survival is not the goal, transformative success is.”