A company may consider the idea of purchasing a new Enterprise Resource Management (ERP) or CRM system for several reasons such as their current software being outdated or not being able to manage the growing requirements of the enterprise. Some systems may also be replaced due to their incompatibility with third party software.
As technology keeps on advancing, it’s no wonder that newer and better ways of doing business are being introduced. Despite the fact that conforming to innovations could be difficult for a few, organizations that use the most recent patterns and developments in information technology (IT) will gain an edge over their rivals. Currently, the software market is experiencing a major shift to alternatives that are much more efficient and secure - cloud computing.
Inventory management may not sound sexy, but the ability to track goods or materials is essential to the health of any business. Accurate information about inventory helps managers reduce waste, meet customers' expectations, and anticipate future demand. It's a critical part of maximizing profit for your company.
Almost all reasonable size organizations use some software system to integrate and control various business operations. And as businesses expand through M&A activity, JVs, etc., they tend to start dealing with a myriad of systems because these systems were already in place. The challenge of course is integrating these systems or the data from these systems with the headquarters operating system. While manually integrating two or three such systems to create a single overview of the business is not an insurmountable task, it becomes increasingly complex, time consuming and expensive to do so as the business expands further and the number of such “local” tools proliferates. And if expansion of your business leads to setting up subsidiaries in multiple countries with different legal, taxation and accounting standards, the task of integrating these tools becomes far more complicated.
Every high-growth business grapples with decisions around the best business system to manage its expanding operations. Proper planning of an integrated business management software system often takes a back seat to short-term revenue acceleration goals. As a consequence, various disparate applications are installed at different points in time in various functional areas, resulting in business process inefficiencies and software integration challenges. But how did these problems arise in the first place, and how can they be avoided?