There comes a time in a business life cycle when it is time to evaluate current systems and processes to determine if you are conducting business as efficiently and as frugally as possible. Your accounting software is one of the most important technologies your company uses daily, and should be treated as such. We put together a few clues for you to evaluate your current system and decide if it is the right time for a change. Take a look.
Age of System – Accounting software and ERP systems are usually good for 7 – 10 years, depending on the scope and product. According to a 2011 Aberdeen Report, your ERP system hits its stride in terms of administrative costs, time to decision, reduced waste, and utilization of resources between 2 – 7 years from implementation. Systems past this 7 year threshold tend to lag behind in the benefits in these specific areas, signaling the time for change.
Connectivity to other systems – Project-driven businesses need access to finances, HR, and project reports as quickly and efficiently as possible. If your ERP system can’t integrate well with say, your CRM, it might be time to consider a switch or upgrade. Chances are you have updated one or more of your other systems since you implemented your ERP or accounting system, so why not take time to evaluate this now? The advances in technology and in integration between systems advance exponentially year after year. So, if you’re 10 years out from implementation, you could be missing out on benefits of which you are not even aware.
Accessibility – The workplace on the whole is becoming more and more flexible. Telecommuters and remote offices are taking the place of one giant corporate headquarters where the entire workforce clocks in and out. People want access to their data and information from anywhere, at any time. Many of the new ERP systems, like Dynamics GP, have web access, giving you the freedom to use a web browser to access your information from Starbucks or the Library, if you so choose.
Reforming your current ERP solution can help you to get a leg up on your competition and even increase efficiency and reduce operating expenses. Deciding which software or system is the right fit for you is incredibly important, but so is choosing the right partner. BroadPoint, the Mid-Atlantic’s largest Gold Certified ERP partner, has worked with many Professional Services firms modernize their ERP systems, molded to fit their direct needs. Call us today to discuss which option is right for you.