If we’ve learned anything over the past few years, it’s to never know what to expect. The almost overnight redesign of our world from the pandemic, stressed the need for businesses to be quick and flexible. Now, business leaders everywhere are faced with many issues to keep their businesses competitive and growing.
- Fast-changing customer demands
- Inventory surplus of deficit
- A fast pace of keeping up with competitors
- Expanding products and markets
- Acquisitions
Anything is possible and you have to quickly adjust.
What technologies do you use to keep your business future-proofed? What does that really mean and how can you take advantage of the benefits too?
The main goal of any company is financial stability. Creating a multifaceted future-proofing strategy will increase your chances as your business works to establish the foundation for ongoing success. By doing so, you’ll be able to tackle problems in the future from various perspectives and have the highest chance of succeeding.
Many businesses also implement cutting-edge structural elements and procedures, such as a modern ERP solution to run their business on. You have a better chance of succeeding if you have protocols ready to address different scenarios and spend money on formal evaluations of your processes as your business prepares for the future to understand your strengths and limitations. By investing in a true ERP solution, like Acumatica, you can strengthen your processes, automate procedures, and then focus on your weaker areas.
It’s all about how Acumatica listens to you and how quickly they respond. They really do want to hear from users to understand our business processes so they can incorporate new features and enhancements to make things even easier. It’s just amazing!
Kelly Burns, ERP Developer & former Chief Operating Officer , M3 Technology Group
When discussing future-proofing ideas, keep these 5 things in mind.
1. Comprehensive features
Top ERP solutions provide all-encompassing answers to your business problems. From planning, budgeting, purchasing, to financial operations, you have all the information you need in a structure that will meet every demand. Don’t outgrow your new ERP solution. Make sure it meets your evolving needs without expensive upgrade, fees, and integrations.
2. Structural changes
Future-proof your business by making sure you don’t create huge IT projects if your company undergoes structural changes. For example, you may decide it’s better to run your warehouse as a separate corporate entity, or that the branch office in another state should be a wholly owned LLC. Acumatica offers flexible, multi-entity accounting functions that make structural changes simple.
Alternatively, internal organizational changes are common, but without the right tools, they can be disruptive. A full ERP solution can ease the transition and help automate things like, approvals over expenditures, contracts, and so forth. With Acumatica, you can modify user roles to reflect reporting relationships and approval authorities.
3. Evolving processes
Businesses are constantly improving and changing their processes. Whether to adjust to economic impacts or internal variables, but this should not trigger a major software update. Choosing a modern ERP solution, gives you the ability to modify automated workflows—including being able to integrate with separate systems. Using standards-based APIs, you can connect to external partners easily.
4. Reporting is the key to success
Choosing an ERP solution to provide you endless, flexible analytics seems like a no-brainer. But the problem is, you probably have no idea what you will need in the future. Many systems have key reporting tools and visual dashboards, but you want to invest in a product that is putting development into this area as well. This way you are assured that you can make and remake your reports and dashboards as they change over time.
5. Changes in IT
Legacy ERP systems are notorious for creating obsolete software/hardware environments. Even when the core functionality is still relevant to the business, the underlying infrastructure can become slow and costly to maintain. It can be very expensive to upgrade. Acumatica solves this problem by being cloud-based and cloud-native. You never have to worry about outgrowing your systems. It scales elastically on demand.
The future may be hard to predict, but Galeforce Consulting Partners can help future-proof your business, starting with an ERP solution. With Acumatica, the cloud ERP, upcoming changes are easy to handle and ensure a smooth transition to unknown future states. Contact us to discuss your business needs.
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