Figuring out the right time to invest in technology upgrades is a daunting task and there is no silver bullet answer.
An obvious one is the fact that your business technology (hardware and software) is reaching the end of its lifecycle
It’s not a decision you want to make in a rush or under pressure…so don’t leave it until your last notice that an application is no longer supported or a major piece of hardware fails!
Perhaps your business growth is being encumbered by multiple competing technologies? (Spreadsheets, local hard drives, email inboxes, departmental applications…paper)
Granted, hardware and software upgrades are a significant cost and time investment to your business that needs to be considered carefully.
But what is the opportunity cost to your business not investing in technology?
- Competitive advantage?
- Market growth opportunities?
The technology landscape has evolved to the point where standard ERP software (accounting, manufacturing and distribution) is no longer enough.
Mid-sized businesses are moving to Enterprise Software solutions that include
- Customer relationship management (CRM)
- Document management / knowledge management
- Project management
- Human resources management (HRM)
- Workflows and automation to tie everything together
From a tactical standpoint, this means:
- Eliminating those extra spreadsheets
- Minimizing the use of individual software applications specific to each department
- Reducing reliance on email
- Improving access to information – one source, accessible to all staff
Almost every training session we’ve run sees the project team identify at least three spreadsheets that can easily be replaced simply with a few structured workflows. By the end of the day, they do just that.
Things have changed – your staff are far more tech savvy than they were years ago during your first implementation.
So are software vendors. Their experience means faster implementations, better business understanding and more training, support documentation and videos.
Not only that, your choices have opened up significantly with a variety of technology options and software applications specific to your industry or requirements. The opportunities are endless, it’s up to you to decide what’s best for your business.
There’s always help available if you need it. A trusted partner will go a long way towards helping you implement the best solution for your business.