How new thinking on ERP is igniting intelligent growth for midsize businesses
ERP software comes with an endless array of formats, environments, interfaces, and capabilities. However, knowing which offering to implement is still a challenge. As operations grow and expand into new locations, midsize businesses can quickly outgrow existing technology.
But this reality shouldn’t keep midsize businesses from adopting an ERP system. Instead, they should upgrade their understanding of the potential their ERP investments offer, scaled to the context of current and future business requirements.
“Today's organizations need frictionless transactions, instantaneous ordering capabilities, and higher levels of engagement while focusing externally on meeting the customer's requirements in real time, anywhere and anytime,” IDC’s Ray Boggs, vice president of Small and Midsize Business Research, and Mickey North Rizza, vice president of ERP and Digital Commerce Research, stated in an IDC Analyst Connection interview. “Utilizing a modern ERP system moves a business beyond internal-facing processes to a view that includes suppliers and customers.”
Navigating the way toward a smart ERP investment
So how do you choose the right ERP technology that will scale with your business operations and help you get ready for the future? It’s all about flexibility, speed, agility, and focus.
“The goal, in keeping with digital transformation, is to become a proactive, insightful business that makes decisions in real time, positively impacting profitability and future revenue,” shares Boggs and Rizza. “ERP software provides comprehensive capabilities that support that goal.”
Take, for example, the adoption of an intelligent, cloud-enabled ERP platform, which helps provide capabilities such as real-time data processing, advanced analytics, automation, and machine learning. Midsize companies can then use these innovations to simplify routine tasks, eliminate human errors, and share insights across the business. In return, processes and decision-making become more impactful and data-driven, time to value is realized faster, cash flow improves, and growth becomes more efficient and profitable.
More importantly, the ERP system can scale to the business’s evolving digital maturity. This opportunity opens up enormous potential for exploring new intelligent innovations. With the help of a business and technology partner, companies can find new ways to further augment human abilities, take on competitors with disruptive power, and respond to market and industry shifts faster.
Resetting the digital mindset of growing companies with intelligence
Every business reaches a point of truth where spreadsheets,basic accounting and management capabilities become silo’d and harder to sustain. Pockets of line-of-business insight begin to emerge. Problem-solving eventually becomes more complex, and finding a competitive edge calls for cross-functional transparency to enable proactive planning and action for powerful outcomes.
With the right investment in intelligent ERP technology, midsize businesses can enhance their ability to keep up with these changes in ways that strengthen their competitive position and offer long-term flexibility.
Editor’s note: Find out the answers to five common questions that small and midsize companies ask about ERP systems. Read the IDC Analyst Connection brief, “Small and Midsize Businesses Put ERP at the Center of Digital Transformation Strategies,” featuring IDC’s Ray Boggs, vice president of Small and Midsize Business Research, and Mickey North Rizza, vice president of ERP and Digital Commerce Research.
Interested in hearing industry leaders discuss subjects like this and sharing their use-cases? Attend the co-located IoT Tech Expo, Blockchain Expo, AI & Big Data Expo and Cyber Security & Cloud Expo World Series with upcoming events in Silicon Valley, London and Amsterdam and explore the future of enterprise technology.
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