Are you already a user of an ERP solution? You will know that an ERP system is the heartbeat of your entire company. However, an ERP solution for SMEs might get outdated. The average lifespan of an ERP solution is around ten years. So, if you have gone beyond that timeline, chances are that you are being left behind. This might hamper your entire company’s functionality.
Top tips for ERP upgrade success in 2024
Are you considering a legacy ERP system upgrade plan? Here, we can help you out with our handpicked tips. We can also provide you guidance on what to look forward to in your new ERP upgrade. Let’s look at them one by one.
Advanced forecasting
You should look out for sophisticated demand forecasting algorithms that can factor in seasonality, promotional campaigns, supplier schedules and other parameters. This will minimise your reliance on historical data alone. Moreover, this will also reduce all kinds of inventory planning errors.
Higher automation levels
During an ERP selection process, you should always opt for systems that are capable of generating and adjusting thousands of orders daily with minimal human interventions. This will ensure efficient inventory management. These will also, in turn, reduce all the risks associated with a manual adjustment.
Problem prevention
You should also select ERP vendors that actually focus on preventing issues including overstocks, lost sales, and disposal losses. In other words, your system must be equipped to handle continuous KPI monitoring.
In-depth analytics
You should opt for a modern ERP system that can offer comprehensive analytics. This can provide you with a holistic view of core business operations. This can let you conduct detailed performance analysis, change management if required and conduct strategic planning. Your new system should be able to read a wide range of indicators.
Flexibility and customisation
Your new ERP system should be capable enough to accommodate specific stock replenishment and logistics processes. This way, they can allow you to custom modifications and settings to meet different business requirements efficiently.
Cost savings and the implementation timeline
You should give priority to the vendors who can assure you a swift ERP implementation and immediate operational improvements. If the new system focuses on tangible results such as optimised inventory levels, enhanced order fulfillment rates and so on, it will facilitate your cost savings in the longer run.
Our ERP solutions for SMEs satisfy all these requirements. Are you looking to upgrade your system? Contact BizERP, and we will help you with your ERP update every step of the way.