When choosing an ERP system one of the key questions you should be asking is whether or not the potential ERP system is adaptable to changing times. Adaptability is a key feature when selecting software to run your business processes. By ensuring that your ERP has the ability to adapt to change safeguards your future business and growth – this requires features that are intelligent, responsive and flexible. At Lorge we have put together a few reasons why adaptable ERP systems are a good business solution.
Risk Management
If your ERP is sufficiently adaptable, then you will effectively be able to manage risk today and tomorrow. This should be an important consideration for any business as, according to the 2016 Mint Jutras Enterprise Solution Study, 88% of businesses perceive that they face some level of risk in their business. This ranges from newer risks such as innovation, new marketing techniques and new business models to more traditional risk concerns like expansion and growth, organizational restructuring and regulatory changes.
With these newer and more traditional risks, the ability of you ERP system to easily innovate, evolve and change is becoming increasingly more important. Increased adaptability and responsiveness are essential risk-mitigating features. This is because they assist in staying competitive in a rapidly changing market.
Reporting
Your ERP system should be able to help you streamline your business processes. This means making data gathering more efficient so that more accurate reports can be generated. Having your data well-managed allows for more robust reporting functionality, as reports within the system get exported, edited, and shared in real-time.
Mobile reporting is not new to ERP systems but with an adaptable system mobile reporting provides your business with opportunities through up-to-the-minute access to information to make timelier and more accurate decisions. With the use of mobile devices your business and employees are granted access to data outside the four walls of the building, ensuring that business activities are no longer restricted to one location.
In order to stay ahead of your competitors and provide the best service possible to your customers, anytime, anywhere access your critical business data is essential. With an adaptable ERP your data gathering, and automated reporting means an improvement all round to your productivity and efficiency, as well as having overall visibility of your business at all times.
Regulatory Compliance
Regulatory compliance is one of the most unpredictable. The rules are ever-changing and goal posts can be shifted at any point. In order to navigate the ever-changing landscape, your ERP system needs to be able to handle new, revised, and complex governmental regulations to ensure your business is meeting compliance regulations at all times.
The Bottom Line
An adaptive ERP system is essential for your businesses ability to grow and succeed. In order to keep up with the fast pace of doing business, your ERP system needs to be adaptable. All that is needed is a fluid system that bends and molds itself according to changing scenarios and new challenges as they occur, and they will occur. It is clear that the future your business is facing is unpredictable. The only situation that your company can be sure of in the business landscape is that change is inevitable. Your business cannot halt or fight this unpredictable change and so, it is best to work with change, when change is the only constant.
Examining your ERP’s ability to handle mobility, mitigate risk and regulatory compliance, is key in choosing an ERP solution for your company that can manage change. At Lorge we offer our in-depth product and industry knowledge to help you find the most adaptable and versatile ERP business management solution to help your business evolve. Get in touch today to find out more.
