15 Tell-Tale Signs Why You Should Replace Your ERP Accounting Software
SHOULD YOU REPLACE YOUR ERP ACCOUNTING SOFTWARE?
We’ve been around more than quarter of a century and we’ve seen thousands of companies struggle with technology seeking their next strategic business system. We’ve seen companies pick the right product and we’ve seen them make huge mistakes leaving them with a tangled mess, bad data, and crippling debt only to have to go through the process again. Replacing your business software isn’t easy. It can (and should) take many months to evaluate vendors and products and to eventually select a business system. And it’ll take you at least another couple months to implement the basic system which is where most companies stop and become complacent – never returning to setup the advanced features available to them in their application. It’s no wonder why most companies keep their business software for at least 10 years (about 12-15 years for mid-market companies).
In her July 18, 2017 story, “The Real Cost of Aging IT Systems” on Excella.com, Stephanie Vineyard writes, “Data creation is exploding, but legacy systems remain ubiquitous and continue to power the business world. It is estimated that close to $3 trillion in daily commerce continues to run through 60-plus year old COBOL systems. Just two years ago, it was reported that the banking and insurance industries spend close to 75% of IT budgets maintaining workhorse systems, such as these COBOL systems.” This is just one of hundreds of accounts showing how reliant businesses are on technology and how difficult it can be to move to new platforms.
The big question is this: When is the right time to switch software and what are the tell-tale signs that the time is now and not later? This white paper is based on our years of experience working with thousands of companies that were faced with this same question. Our goal is to help you and your team to understand what to look for and to put some hard data to the inefficiencies caused by staying with the wrong software for too long.
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