Technology in every type of business ranges from an asset, to a necessity. One type of technology, ERP software may help your company with accounting, inventory tracking, production, or just inter-department collaboration. In another company, ERP software can be so integral; the business could not survive without it. Functions like eCommerce, EDI, EFT, require a level of automation and integration; they are the price of admission if you want for example, to sell to a big box chain. So what technology will enable you to compete in your industry, how can you keep up with it and stay on course?
Technology Solutions Strategy
Most SME (Small Medium Enterprise) companies do not have a technology solutions strategy. They fix things when they break and they react to user or customer problems as they arise. Alternatively, consider a well thought out technology solutions strategy. This will act as a guide to keep you on track and proactive with upgrading or implementing new solutions. Here are a few helpful steps to get you started:
- Determine Your Needs: Not every cutting edge technology is going to be the right solution for your industry or company. Consider first and foremost the positive business impact sought. Perhaps you need a formal ROI, perhaps not. But it’s important to get a clear picture of impact. Working with an experienced team like Acuity Consulting Group can confirm the right solutions to fulfill your company’s ERP needs.
- Researching With Resources: With needs defined, it’s also important to research what’s new in ERP solutions and what applies to your business. Internet research can help you understand what’s available, what’s useful, where it’s deployed and who’s using it. Gather data, develop criteria, rank products and determine if they fit your budget and business plan. Most importantly, know who stands behind the product including their experience and reputation
- Budgeting: While finding the right technology solutions is important, understanding the cost outlay and ROI is equally essential. Perhaps older technology that still fulfills your needs, may not need near term replacement. It’s important to spend your resources and time wisely. A solution strategy shows a longer term picture - more like a marathon than a sprint. Remember also there are other costs related beyond licensing and hardware, such as training and conversion that need to be considered.
So develop a strategy, because if you don’t, your competition may. And work with professionals who can help you make the right decisions and help you implement them at the right time. To find out where your company can upgrade to newer ERP technology solutions contact Acuity Consulting Group today: 877-361-6534.