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When a start-up entrepreneur, or any business owner for that matter, dives into the nitty-gritty of his or her operations, then he or she becomes well-aware of the intricacies involved in the processes. Managing processes and transactions can be helped greatly with today’s technology.

Focus on the Foundations of Success: Efficiency is Key

Optimizing operations towards efficiency can positively impact any type of business.  Is it not true that for any business, the combination of experience and wisdom is a formidable asset to have? The presence of these two things is a critical aspect that roots itself in the growth of many business ventures. This often means investing in your business in ways that make sense for future stability and growth.

With technology and the internet as necessary components for business success due to their sheer significance – both as a platform and resource – competition has become fiercer than ever. While many an organization may have access to these two, the businesses built for success are backed by the foresight. One of the ways towards progress and development is to be transformative.

In practice, many businesses begin with basic tools like QuickBooks and Excel but eventually outgrow them or they start to become less efficient. Selecting and investing in a more robust ERP system can be a long-term strategy. The intelligent CIO knows that there is no “one software” fit for all types of businesses. For example; a financial organization will have requisites that differ from a building contractor. It is advisable that a business first seek consultation with tried and tested ERP consultants, most familiar with the current types of ERP software available. Like any technology, ERP software changes and updates frequently.

Some ERP Preparation Basics

An organization that aims to be more than statistic is interested in continuous improvement. This almost always points to the use of technology. To ensure that a business is on the right path, below are some of areas to consider in the ERP selection process:

  1. Revisit the business’ processes (are they still relevant)
  2. Study the workplace environment (are your workers productive and happy)
  3. Identify business requirements (not just today’s requirements, but your future state as well)
  4. Consider financial limitations (budget and ROI)
  5. Evaluate your existing ERP system or lack thereof (what are your pain points and workarounds)
  6. Prepare for changes and developments (organizational change management)
  7. Determine quantifiable benefits (how will technology help grow your business)

If this seems like a lot to consider, it is. Independent consultants such as Panorama Consulting Solutions have the expertise, and are well-versed, in ERP software selection and all the nuances that must looked at for a successful transition to a new ERP system.[vc_custom_heading text=”Welcome to the Future: A Case Study on Modernizing a Business” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”]Take, for instance, how a consumer services company in Denver grew exponentially. However, they were still relying on paper-based and manual operations. The company’s primary problem was that it coursed all its processes through a single employee who served as the primary architect of the operations. Should something happen to this person, the possibility of the organization being crippled was very real.

Through a meticulous evaluation of available ERP software options, redefinition of business processes, as well as management of its ERP implementation, the Denver-based company streamlined and automated its operations. This success, as forecasted, was measurable through business results – the company yielded a 60 percent ROI and 2-year payback period, among other gains.

Business owners, information officers, and project managers should consider the ongoing and ever-changing need for technology. An organization’s ERP system affects budget, timeframe, and operations. If an ERP project is not executed flawlessly it can very well result in the failure. However, an organization with well-matched current ERP software and a solid implementation plan sets itself for an upward trajectory. This is what industry leaders do, utilizing accessible knowledge and tools to support and propel an organization’s goals.

Read Panorama’s 2018 ERP Report

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