When organisations experience a period of rapid growth there are many important issues that are front of mind. However, organisations rarely consider whether their outdated systems are equipped to handle the expanse of their business. Like a well-worn pair of shoes, your outdated systems are comfortable and familiar – but become limited and strained as the business continues to grow. These limitations include:
- Difficulty locating information across multiple systems
- An inability to meet increasing demand due to slower systems processes; and
- Increased time reconciling incorrect data across multiple platforms.
How do you know when it is time to update your system?While business leaders may not be considering the size of their business systems during a period of rapid growth, they are almost always aware of the frustrations caused by system inefficiencies. Unfortunately, most business leaders fail to act on these inefficiencies until they reach a breaking point. This can manifest in levels of the extreme; such as the loss of an important client due to incorrect invoicing. However, it can also be a moment of realisation, where a business leader finds themselves asking “Why am I spending so much time working on this system instead of doing my job?” Do any of these statements ring true for you and your staff?
- Your outdated system cannot handle new business requirements;
- You need to use multiple systems to locate data for reports;
- Your month end processes take longer than necessary to complete;
- Your monthly reports often display inaccurate data, and
- Cash flow errors are difficult to pick up on until it’s too late.
Upgrading to a business system that grows with youMigrating your entire organisation to a new system can seem like a daunting challenge. For organisations experiencing continuous, fast growth, merely moving to the next size up is not a valuable solution. Organisations need a business system that grows with the company, and can expand – or contract – as needed. Fortunately, now you can. By migrating to a modern, cloud-based ERP solution, you can run, manage and monitor all your business processes on a single system that supports the continuous growth of your organisation – no matter how rapid. The benefits of a cloud-based ERP solution include:
- Reduced time to complete month end processes;
- Faster access to data;
- Generate more accurate and timely results, and
- 360 degree view of the business with real time analytics.