When Does Your MSP Business Need ERP Software to Scale?
As your company expands globally, a reliable enterprise resource planning (ERP) system allows managed service providers (MSPs) to standardize business procedures and maintain visibility enabling stakeholders to collaborate and work from anywhere.
The trouble is that many businesses still leverage a whole lineup of software apps to manage different functions, lines, and departments. Using these legacy systems can hinder growth and keep your business from scaling the way you want it to.
While enterprises and MSPs have different needs and factors to consider, there are some common signs that your company needs to take the leap towards an ERP solution.
That’s why if your organization is ready to improve its productivity while minimizing costs, it’s time to implement a robust ERP system. MSPs will find Dynamics 365 Business Central ERPs very effective at helping improve decisions and advance productivity as determined by organization data.
So, what are the signs that your business should take the next step in enterprise resource planning (ERP)? Let’s find out.
Three Signs your business needs an ERP system
As your need for software solutions grows, your results and business activities must expand as well. Therefore, it is now time to invest in more comprehensive tools and resources to keep up with the advancements.
This is where an ERP with Dynamics 365 comes in. It can assist you with your everyday tasks and help your company’s long-term growth.
For growing organizations, it’s less of a question of if you’ll require an ERP and more a question of when you’ll need it
Here are three indicators that now might be the right time to replace your legacy system and deploy new software:
1. Growth cap: Can your current system keep up with your processes as you scale operations and add more clients, staff, and departments or expand into a new market? An ERP software solution allows your organization to grow while maintaining your business’s routine operations.
2. Costly legacy system: Existing software solutions are so deeply ingrained into your current processes that it seems impossible to update them. But that is all the more reason to replace your legacy systems.
They hold you back from progress and advancement. And factor in the high subscription and management fees you pay for them, it becomes apparent why your business is better off with a modern resource.
You get to choose from cloud, on-premises, or hosted ERP solutions and free your profitability from the shackles of a legacy system. It might be time to take a closer look at these solutions to gauge if your business needs.
Is it time to keep data on-premises, move to the cloud, or invest in a combination of both?
3. Lack of insights: Although ERP software offers transparency, visibility, and valuable insights into the industry landscape, most organizations still use legacy software that works independently from other systems. As a result, it can’t provide timely and relevant analytics.
This, in turn, can lead to multiple sections working in silos, which can hamper productivity. A Dynamics 365 Business Central ERP solution ties all your distinct systems together. Also, it offers business insights, and data analytics which makes it a win-win for driving growth, productivity, and maintaining a competitive edge.
Many companies believe they need to do a thorough ERP overhaul of their current system, however that’s not the case. Instead, work with a reliable service provider to make migration and implementation of a more modern ERP system convenient for all your stakeholders.
How does ERP software help?
As a robust software solution, ERPs store massive amounts of information across various business processes and operations. So, there is no doubt that meeting the customers’ expectations is at the forefront of the ERP-related decision-making process.
Satisfied customers make a loyal base, and MSPs prepared to meet their needs don’t have to look for more reasons to migrate to ERP from Dynamics 365. However, as newer ERP applications and features are developed, it is imperative to investigate how these can help your organization. In addition, this competitive landscape necessitates companies to update their ERP systems to stay relevant.
Essentially, an ERP software solution allows your company to leverage a system of integrated apps to help you manage and assimilate your business’s supply chain, financials, reporting, operations, human resources and manufacturing activities.
Here is how ERP software can help your business:
1. Save on redundant costs: ERP software solutions can help create efficiencies, making your business leaner as it scales. Moreover, it enables your company to expand without incurring additional IT or staff costs. The implementation costs of an ERP system are effortlessly covered by the ROI of a fully optimized, more efficient business environment.
Specifically, an ERP with Dynamics 365 provides more affordable pricing options. This is of course dependent on various factors, such as the features you require, the size and nature of your business, and where your information is hosted.
Your chosen Dynamics 365 Business Central ERP solution can offer you pricing alternatives while also considering your total cost of ownership (TCO). Moreover, it negotiates all fees with your tech partner to ensure that you get the best possible deal on the services.
A feature-rich ERP system is the one that meets your expected requirements at present and in the long term — but it might not be necessarily the cheapest option.
Even though implementing an ERP system is a significant investment, it can improve efficacy and amalgamate with your IT costs, making it a cost-effective option.
For example, you can concentrate all such expenses into a single ERP software. As opposed to spending resources on various systems that need dedicated support teams, staff, licenses, support teams and infrastructure.
In addition, spending more on diverse systems than on a centralized ERP can also save on overall IT costs. Leveraging a unified system also minimizes training requirements for the users, as they are only required to learn about a single system instead of interacting with multiple individual applications.
With Dynamics 365, you also enjoy flexibility and compatibility. The ERP software solution is efficient and adaptable enough to download on a server, in a cloud solution or on-premises, and viewable on organization devices such as phones and tablets.
Choose a solution that enhances your business processes, providing more flexibility and smoother operations.
2. Security and Privacy: Security and privacy are the speciality and utmost priority for Dynamics 365. And a software solution that has the ability to meet the guiding compliance requirements as per your respective industry. An ERP facilitated with Dynamics 365 allows your firm to transform and drive growth digitally.
If you consider moving to the cloud, check for the one specializing in data and network security. It’s also imperative that your chosen solution enables you to meet the regulatory compliance needs of your industry.
A cloud-based ERP offers enterprise-grade security, as well as reduced ownership cost, configuration flexibility, and ease of use that your enterprise systems just can’t provide. Moreover, it presents you with real-time visibility and access to your business data through your phone or other mobile devices, regardless of wherever you are in the world.
Data security is one of the significant advantages of an ERP software solution. After all, data is at the heart of the Dynamics 365 Business Central ERP systems. Exchanging data across functional silos like sales, customer service, business development, and marketing improve collaboration throughout an organization. In addition to data security, widespread data access controls who can edit and view information.
In fact, an ERP solution has intrinsic controls to guarantee the protection of your data.
Dynamics 365 Business Central ERP platforms help you maintain a high level of security in a single input system. Merging data from various systems often leads to conflicts between different sources. But when you run a single data repository, it helps improve the consistency, accuracy, and safety of your company’s data.
Dynamics 365 Business Central offers you advantages from cost reductions to future mobility, reliability, and scalability. Contact us to learn more about how Business Central can help your business and how to take advantage of Sherweb’s extended network of expert Dynamics partners.