If you’re still on the fence about upgrading your ERP, consider this: ERP upgrades are necessary to keep pace with the latest ERP products on the market.
Upgrades ensure you have access to all the latest features, functionality and technology from the most innovative vendors in the industry.
It’s obvious that running your business or organization on an outdated ERP system is not the best option, but it’s also not uncommon. We’ve seen many organizations operating with outdated technology and we understand that it can feel overwhelming to consider upgrading.
As a business owner, you’ve made significant investments to ensure your organization has the systems it needs to run efficiently and effectively. However, with the fast pace of technology change, without proper maintenance that investment can become obsolete quickly. As this happens, you will see a decline in productivity, efficiency and possibly even sales.
Unfortunately, too many businesses stick with an old ERP system simply because they don’t know what else to do. They’re afraid of the time and money it will take to implement a new ERP system, or they just don’t have the expertise to manage an upgrade.
If your current ERP or CRM software is more than 3 years old and/or hasn’t been upgraded in that time frame, now is the time to look at upgrading your software. Here are some reasons why.
Why upgrade your ERP system?
Upgrading your ERP is a great way to improve your business processes and efficiency. Rather than having to reinvent the wheel each time you face a new challenge, you can leverage your existing data assets with an upgraded application that can help you work faster and smarter.
When you upgrade from an outdated system, you can: Save hours each week by eliminating unnecessary manual data entry. Increase your computer and smartphone productivity. Eliminate errors and make more accurate financial decisions. Improve quality control and boost the efficiency of your business processes. Keep you on track for regulatory compliance, meet your goals and stay competitive in today’s global economy.
What are the benefits of upgrading your ERP system?
The 5 biggest benefits of upgrading your ERP system can save you time, keep you from making costly mistakes, protect your business and business reputation, enhance the quality of your data and most importantly, increase your profitability.
1. You’ll save time
It’s easy to get stuck in a rut with an outdated ERP system. You may think you’re saving time by not learning a new system, but continually working with an old ERP system ends up costing you in the long run. Upgrading to a modern ERP system allows you to spend less time on administrative tasks and more time on growing your business.
2. You’ll avoid costly mistakes
When you upgrade your ERP system, you’ll be able to take advantage of built-in features that are designed to prevent mistakes, such as duplicate entry errors and incorrect calculations. These are easy to miss when you’re using an old ERP system. By avoiding costly mistakes made by not upgrading your ERP system, you avoid penalties such as fines and lost revenue due to fraudulent activity or errors in your customer data.
3. You’ll protect your business and business reputation
Upgrading your ERP system is one of the best ways to protect your business from cyberattacks because it will include the latest security and encryption capabilities. An updated ERP system can also help prevent data loss through bugs or glitches in the software, which will protect both your reputation and your bottom line. Upgrading to a modern ERP system offers greater security for your company’s most valuable assets—customers and employees. In addition, it safeguards the integrity of your business’ data which is essential for the ongoing success of your company.
4. You’ll improve the quality of your data
When compared with manual data entry, an upgraded ERP system helps reduce errors by eliminating the possibility of human error. As a result, it facilitates accurate reports that help you make better decisions based on accurate information. The data in your ERP system is only as good as the system itself, so if you’re using an old one, you could be missing out on valuable information that could help you improve efficiency and profitability.
5. You’ll become more profitable
When properly implemented, an upgraded ERP system boosts profits because it provides solutions that can be customized to fit your business processes and needs. This can include everything from streamlining inventory management, to reducing the number of errors and mistakes made in order inputting and processing. Not only does this mean there is less waste and higher productivity, but also fewer errors means greater customer satisfaction and retention.
It’s obvious that running your business or organization on an outdated ERP system is not the best option, but it’s also not uncommon. We’ve seen many organizations operating with outdated technology and we understand that it can feel overwhelming to consider upgrading.
Additional benefits include:
1. Improved customer service –
Efficient operations lead to quicker response times for customer inquiries and faster order fulfilment.
2. Competitive advantage–
If you aren’t using the latest technologies to run your business, you won’t be able to compete with those who are.
3. New functionality–
Upgrading allows you to take advantage of functionality and features that didn’t exist when your current system was released.
4. Improved employee productivity–
Inefficient operations waste employee time and lower productivity. With an upgraded system, employees can work more efficiently, resulting in cost savings and greater productivity overall.
ERP software has come quite a long way in the last few decades, and as such, it’s a great option for companies large and small. An upgraded ERP system can help you work faster, smarter, and more efficiently. It’s also important to note that upgrading your ERP is a lot easier to do than it used to be.
In the end, an upgrade is a great deal for almost any business. You shouldn’t think of it as an expense, but rather as an investment. The benefits that you reap from a newer and better system will keep paying off throughout its entire lifecycle, and even after your business has outgrown it.
We live in a world of constant improvement, and to be successful today, you must be ready to roll out new solutions at a moment’s notice. Upgrade your ERP system today to make yourself more efficient tomorrow.
There are many different ERP systems available on the market today, but SAP Business One is proven to be both the most efficient and user-friendly option. To learn more about SAP Business One and its wide array of benefits for your business, be sure to check out our free solution brief.
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