- 12 October 2016
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There’s a lot of talk about the tipping point in the business world; the moment when that hard push to succeed gives way and a company reaches the point of critical mass in its evolution. Where sustainable achievement is no longer a dream, but a reality. In order to grow, a business must first go through many changes. However, it’s important to recognize that there’s a difference between a single change, and a true transformation. A good business needs a transformation to occur at one point or another in order to reach that true tipping point. Let’s look at how an ERP system can be the catalyst a business needs to overcome those final hurdles, tip toward success, and transform into a market leader.
Making Lasting Transformations
Change is good, but only as long as the effects of those changes are perpetuated. An ERP system can help leaders make significant changes within individual businesses that are necessary to create continued success, and that will ultimately ensure those changes become part of the organization’s overall foundation. One benefit of the conscious move to an ERP system is that in order for an implementation to be successful, the business must first turn an eye toward itself and re-evaluate each and every one of its current processes. An ERP implementation requires strategic planning and full team engagement. This type of self-analysis will oftentimes reveal the bottlenecks, inefficiencies, and redundancy that may be holding a business back from achieving its maximum potential.
Tying Up Loose Ends
Growing companies have growing pains, and a budding business without a central, unified system can find itself at a completely avoidable disadvantage. As companies grow, belts get tighter, resources max out, systems get sloppy, and the rough edges of the business begin to show through. That lost invoice, product shortage, missing payment collection, or suboptimal vendor can start to take a measurable toll. An ERP system can give back the control necessary to right the ship and navigate steadily ahead.
Implementing Digital Agility
When a business is not fully digital, extra time is necessary to hunt down papers and manually perform all customer interactions. Digitizing aspects of the business can help lower the toll on human resources, reduce inefficiencies, and effortlessly implement best practices into every aspect of operations. Digital transformations can bring modern conveniences not only to the business owner but to the customer as well. Automated customer interactions keep customers from waiting; inventory levels can be reviewed, ordered, and communicated reliably, accounting can quickly and effectively bill and receive payments, and reports can be generated at the click of a button.
Weathering the Storms
One of the tragedies that often befalls a budding company is its inability to weather changing market conditions. An ERP system can help a business remain profitable during times of strain. Without an ERP system in place, information can be lost in translation between varying reporting structures, communication between rarely overlapping departments can falter, and stakeholders can miss the message, resulting in an overall failure to respond to changing conditions. By combining all basic functions of a company into a single system, a slowdown in production or increase in demand can be immediately communicated to all departments and allow a company the visibility it needs to turn on a dime and take the most expedient and financially savvy plan of action.
If your business is on the fast track towards success, an ERP system can provide your company with a digital jetpack and the final push it needs to set off that chain reaction to reach success and help your brand spread like wildfire.