05 May 2023
Investing in Enterprise Resource Planning (ERP) systems is not cheap, so it’s understandable that most companies want to keep the system running as long as possible. However, as businesses grow, the system may get out-of-date, making it more difficult for your firm to fulfill new goals. There are a couple of signs that indicate it is time to upgrade your ERP system. We have compiled a list of the main indicators that your company is being held back by its current software.
Table of Contents
Signs Your ERP System Needs an Upgrade
When Your Business Is Growing Fast
One of the most popular and motivating factors for deciding on an ERP system upgrade is your business development. When your company expands, you should examine all of your software systems to ensure they can meet your current & future needs.
Growth indicators are diverse, but here are some examples. First, there are more and more transactions, and the old system cannot track all of them effectively. Second, your company launches new products/services or sets foot into new markets. These activities may come up with new company requirements such as new tax rules, languages, data formatting patterns, and so on. Your present ERP system may be incapable of scaling to adapt to your needs, and it is time to upgrade/replace it.
When You Do Not Have Cloud Compatibility
Cloud computing can have a huge impact on the way organisations function. Many enterprises that use cloud-based ERP solutions have saved a lot of costs. If you are currently using an on-premises platform, and your vendor can offer the cloud one, it may be the time to have an ERP system upgrade. Synergix ERP system is a cloud-based or on-premises solution, giving you the freedom to switch if your business plan changes. It also prioritises the user experience, allowing you to work everywhere just via Internet-connected devices.
When Your Software Is Out of Date
Many businesses are still using the software that they have adopted for more than a decade. But as time flies, there are features or capabilities in today’s ERP software that the old ones do not have. Without them, employees may be required to undertake more tedious tasks such as processing data, printing hard copies for records, or spending additional time completing activities that the latest ERP software is capable of handling. For instance, Synergix ERP system is able to automatically generate invoices before the due date approaches, using E-Invoicing with InvoiceNow.
When Your Data Is Not Synchronised
Storing and managing data with several separate systems is not only inefficient but also detrimental to the business. Because many of those systems are unable to communicate and share information, your data may be lost or misinterpreted, requiring someone to correct the error and re-enter the data. This may jeopardise the data’s reliability, as well as waste man-hours and money. Integrating your disparate systems will provide you with a complete picture of your organisation and allow you to make more informed decisions.
Benefits of ERP System Upgrades
Enhanced Functionality: A Strategic Leap Forward
Upgrading your ERP system unlocks a myriad of benefits, with improved functionality taking center stage. Embrace the latest features and advancements to streamline your business processes, foster operational efficiency, and gain a competitive edge within your industry. From automated workflows to advanced reporting tools, the upgraded ERP system propels your business into a new realm of capabilities.
Fortified Security Measures: Safeguarding Your Data
One of the paramount advantages of ERP system upgrades is the bolstering of security measures. With the latest updates, businesses can fortify their defenses against evolving cyber threats, ensuring the confidentiality and integrity of sensitive data. Stay ahead of potential risks and compliance requirements by investing in an upgraded ERP system that prioritises data security in an increasingly digital landscape.
An upgraded ERP system brings not just technical enhancements but also a revamped user interface, making the software more intuitive and user-friendly. Experience a seamless navigation process that empowers your team to maximise productivity. The upgraded interface contributes to increased user adoption, minimising training requirements, and ensuring a smooth transition for all stakeholders.
Conclusion
If you’re considering where to begin your ERP system upgrade, Synergix’s support team can help. We are experts in guiding firms through the process of leveraging business performance.
Besides, Synergix Technologies is a top ERP vendor in Singapore. We are pleased to become a great partner on your growth journey. Our fully integrated and customised ERP software will undoubtedly be the most effective tool for increasing your company’s productivity.
Government Grants
The Singapore Government has offered several government grants, with the most generous funding of up to 50% of the qualifying costs when adopting Synergix ERP System.
If you are considering upgrading your software, our consultants will be happy to assist you. Contact us today!
