Whether you’re considering the decision to move to a new ERP system or adopt one for the first time, upgrading your ERP system or migrating your existing system to the cloud will make a world of difference on your business journey.
It will require careful planning, resource and budget allocation before selection and subsequently during adoption and putting it into operation. However, subsequent to its adoption your interventions will be limited to using the solution and all the rest is the responsibility of the solution provider. Even adoption issues and set up times are minimal compared to on-premise systems and the solution could be up and running for your business in a matter of days.
A 2015 Deloitte report cites 10 common barriers to ERP implementation, with the top five concerns being related to change management: resistance to change, inadequate sponsorship, unrealistic expectations, poor project management and lacking a compelling case for making the change.
The following criteria will help create a good change management strategy:
- Consider all stakeholders-both direct and indirect affected by the change: it is important to address learning issues with the new tools and technologies and how internal and external stakeholders can derive advantage and what type of assistance would they need to come on board.
- Leverage the custom capabilities of the solution: It is important to leverage functionalities like context-specific analytics, mobile capabilities, customization dashboards, invoice scanning, collaboration tools etc to generate greater productivity benefits from your business processes. Business process monitoring and control can be modified to use these functionalities.
- Prioritize processes based on volume of transactions rank: Select the most critical ones or the ones with higher volume of transactions for maximum business leverage. A proper changeover strategy has to be made with the solution provider and the stakeholders so that business disruption is minimal.
- Creating the right user experience is critical and has to be taken into account: Before selecting the ERP solution, feedback on key stakeholders on the user friendliness and experience is vital. For the changeover to happen effectively without any hiccups, training both on-site and off-site may be required to create comfort levels with the operability of the solution and its functionalities/tools. A changeover plan could be made prior to adopting the solution, to examine all angles of changeover issues that may crop up. A parallel operation of two systems may be required for a brief period before the changeover is complete.
- After you decide to go digital don’t hum and haw: After you are convinced of the business benefits of the cloud ERP, don’t vacillate on your decision as you will miss out on proven benefits of better ROI generation and lower Total Cost of Ownership (TCO) compared to on-premise systems. If you are making a case to the management for adoption, you must highlight features/functionalities of the solution in relation to the business benefits especially those demonstrated by similar users in your business domain or a comparable one. Forecasts on business advantage must be made that must be accurate and not motivated.
The benefits of moving to a cloud-based ERP solution are:
- Cost-effectiveness (generally 30% less expensive than on-premise)
- Limited IT resources needed for implementation or support; software is always current and supported by the vendor due to automated online updates
- Faster time to deployment, faster time to create business value, and less risk
- Scalable on both features and users with good integration possibilities with other cloud-based products
- Better security and functionality than what small and mid-sized companies can access and what traditional IT solutions can offer for the same price bands (monitoring and meeting the SLA requirements for response time, continuous backups, redundancy, SSAE 16, PCI certifications, etc.)
If you still would still like to stick to your on-premise system, be ready to face these challenges:
- Much higher TCO and obsolescence issues
- Need for specialized knowledge resources in-house or on call that may be difficult to access as the system gets older
- Decreasing and/or more expensive support from the software vendor as old systems approach end-of-life and becomes obsolete
- Risk of catastrophic data loss due to hardware or software failures as all the facilities are in one location including the backup data
- Increased costs or an inability to customize for evolving business needs, which can result in increased manual processes or multiple standalone systems that are unproductive to juggle between
SaaS ERP or cloud ERP implementations provide accurate actionable data for managers. The ease of integration through application programming interfaces (APIs) using universal technology standards, and the growth of embedded BI tools in these solutions allow managers to view combined accounting, sales, and operational information in a single glance with real time report generation. They can see trends as they occur, react to changes in operations or market requirements in real time even proactively make data driven decisions and the most accurate predictions possible.
You don’t have to be stuck with the on-premise ERP that’s exacting a high cost from your organization. It is time for a change, be rest assured that there’s a better fit out there in the cloud that will address your issues in the least disruptive and seamless manner possible. The benefits realized can greatly impact your organization’s ability to leverage growth, diversification and to meet constantly changing threats and opportunities in the fast changing business scenarios of today.
The solution can help you to identify your strengths and weaknesses and eliminate duplication of effort allowing you to optimize business processes that will enable you to reach higher levels of productivity and business competence.
We at VersAccounts have created a secure cloud based one stop comprehensive ERP solution. It has been catered to take care of all the business needs and concerns for operating your business effectively. It addresses key issues of the small business domain in the most effective manner possible. It is affordable and targeted towards SMB’s and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions. Our solution is built to be capable, affordable and easy to use by small and mid-sized businesses.
With the VersAccounts ERP solution, you can integrate project management, inventory management, multi-entity accounting, purchasing & order management, distribution, production, customer relationship management, and e-commerce functionalities into one solution with easy integration across your business functions. There are customization options with easy migration from and compatibility with respect to other systems preexisting or in the business environment.
Built from the ground up on the latest cloud and mobile technology, the VersAccounts Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
To know more, please visit www.versaccounts.com or contact us directly.
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