Since its introduction in the ‘90s, ERP (Enterprise Resource Planning) software has become a multibillion-dollar business and is now considered a necessary management tool. However, along with its growth and increase in popularity, various and recurring misconceptions about ERP systems have also evolved. Computime Software, sole distributors of Acumatica Cloud ERP in Malta, debunk 3 common myths about ERP.
1. Customisation is difficult
ERP is all about change and adaptability. Modern systems not only record but analyse operations to allow for customising after implementation. It is actually necessary to customise your ERP system to meet your business needs. The trick is to limit the customisations to a minimum.
2. ERP systems are expensive
What actually drives the price up is inadequate preparation when setting up business requirements or choosing a system which includes unnecessary functionality. Setting a scope that is too broad or requiring changes along the way run up costs. In reality, however, it may turn out to be more expensive to continue to run your business using a legacy system or Excel spreadsheets rather than employing an integrated solution across your firm. It is therefore imperative for buyers to inform themselves about ERP systems and to be cautious about relying on faulty information when making purchasing decisions.
3. ERP systems only suit larger companies
As is often the case with new technology, it was indeed larger organisations that embraced ERP. However, current designs work just as effectively for smaller firms. Regardless of a company’s size, most businesses require a purchasing function, an accounting function, CRM as well as specific business-vertical requirements. A main feature of ERP systems is that all of these functions are integrated, and that is a universal organisational need.
A robust ERP system will optimise operations, promote closer relationships between business functions, and provide business insights that will increase profitability through data transparency. ERP systems facilitate the decision-making processes and its transactional database is viewed through functional dashboards. At Computime Software, we are successful when implementing Acumatica Cloud ERP as it supports the unique needs of various industries through its integrated solutions – such as financial management, project accounting, distribution management, and customer management.
There are a number of factors you’ll need to consider before embarking on your ERP implementation, and our seasoned consultants at Computime Software are more than happy to guide you. As a leading provider in business solutions, we are knowledgeable and fully-equipped to provide you with relevant information on the measures required to help your business grow.