If you're using an ERP system in your business, eventually, the time will come when you must create a vital decision: do you upgrade your existing ERP system or ditch it for a totally new one?

Why Create Changes To Your ERP System?

Time marches onward, and with it come new innovations and methods for getting things done. Whether you purchase a whole new ERP system or upgrade your existing one, there will be necessary changes to the way your system helps you do business.

  • You require to stay current with the newest technology. Not only will your business practices keep up with those of your competitors when you're plugged into the latest technology, but your customers will also know they're receiving the highest quality service you can offer. Additionally, your employees will have the latest tools to help them succeed in reaching their goals.
  • A newer version know how to improve functionality and efficiency. Whether it's an upgrade or a new system, going with the latest version typically increases productivity and efficiency. It will offer compatibility with the latest hardware, including tablets and smart phones. Upgrades also fix known bugs and include enhancements that can be beneficial.
  • An upgrade makes sure your vendor continues to support your version. When newer versions hit the market, previous versions tend to fall to the wayside. Periodic updates to the software may no longer be available if you stay with your current version. This could leave you open to security risks.

What New Features Are Available?

Features available in upgrades of existing ERP software and those offered by new ERP systems vary across the spectrum of business types. While there is no specific list of must-have ERP features, there are some that most businesses consider crucial to their continued success. With that in mind, this generalized list of features provides compelling reasons to either upgrade your existing ERP system or scrap it for a new one.

  • Sharing and integrating data across the board. An ERP that makes it easier to work with business partners, interact with customers and schmooze with regulatory bodies is a bonus to your business.
  • Collaborating with other users in real time. When this ERP feature is available, you can collaborate with others via social platforms or in real-time interactions. This improves the ability to share reports and ideas with other departments.
  • Self-service is the way to go. Your ERP needs to be flexible. Upgraded software should encourage employees to tailor reports and offer solutions that reflect the changes that are inevitable as every business grows.
  • Incorporation of latest technology. Up-to-date software - either upgraded or purchased new - makes certain your business takes advantage of the latest technology. This may include ERP access to mobile devices, integration of e-commerce and social media streams, business analytics and intelligence.
  • Reduced administrative and operational costs. The latest versions of ERP software can help your business reduce its operational and administrative costs.
  • Improved database and data warehouse management. The newer ERP software should include the best in information management tools. It doesn't matter whether the database or repository is a single centralized one or multiples with automatic data from sharing between databases. The point is that you want your data moving seamlessly.

The Decision Is Yours

An ERP software suite is a complex framework that can be difficult to implement. Selecting and installing an ERP system usually requires a dedicated vendor. Whether upgrading or installing a new system, be sure to do a proper assessment in the initial stages to make certain you're partnering with vendors who have the expertise your business needs.