Knowing When Your Present ERP Software Needs an Overhaul

ERP software is neither permanent nor static. It will become obsolete. This is especially considerable given technology’s exponential development curve. The bottom line? You’re going to have to replace it at some point.

Following, a few signs will be explored to help you get an idea whether you need to replace your legacy ERP software:

Unnecessarily High Costs of Operation

Older ERP software will become increasingly expensive over time. Vendors will quit supporting it, requiring specialization for troubleshooting. When half the time you spend with it is eaten up by new installation of modifications, that’s telling.

TCO refers to Total Cost of Ownership. Watch TCO and run some projections. If installing a new ERP software provides you increased functionality and reduced troubleshooting costs, this may mean getting rid of the old and bringing in the new makes sense for your business.

Hardware Changes Facilitating Software Shift

Hardware will become outdated. New software can’t run on old hardware; the old hardware isn’t requisite to the task. And while you can run old software on new hardware, you’re likely limiting potential.

Something else that can happen is that hardware can become so antiquated that only “legacy” IT people know how to deal with it; no new minds can be put to managing things. In any of these cases, you may want to get a new ERP software.

Needs of Your Company Outpacing ERP Functionality

Ideally, your company will scale out given time. The more successful you are, the more you’ll need to expand operational infrastructure. As this happens, legacy ERP systems may not be requisite to handle new operational needs. The larger the “surface area” of your business, the more flexible and swift ERP software will need to be in order to handle it.

If you don’t upgrade, new necessary operational procedures won’t be something you can incorporate into your ERP solution. If you’re operating slower as a result, this will diminish your competitiveness in the market. If the ERP solution you’ve got now was designed to support a business model you no longer operate from, fitting your new business model into it is rather like forcing a round peg into a square hole. It’s better to work with MSP organizations and upgrade.

Acquiring a new ERP software through Michell Consulting Group may be the right move for your business. If you’re losing functionality, upgrading hardware, or experiencing high operation costs, you may want to make the shift. Contact us for more information on ERP solutions and whether you should replace existing options.

How to Choose the Best ERP Software for You

Using an ERP software is one of the best ways to streamline your business and make it run more efficiently. An ERP system essentially puts all of your company’s basic management functions in one place, giving you integrated information. There are many different types of ERP software on the market, so it can be difficult to choose the best one for your needs. Here’s what you should consider when shopping for an ERP program for your company:

Scalability

With ERP software, your employees are going to be able to get much more done on a daily basis. You will also be able to use the information the software provides to create an effective strategy for future growth. Because of this, you need to ensure that the software you choose is one that can scale as your company grows. You should be able to easily establish new locations or sales items within the system without hassle.

Global Financial Management

In today’s global market, most companies are working internationally or plan to grow internationally at some point. Because of this, it’s important to look for an ERP software that will work effectively in a global market. You should be able to look at your sales numbers from each location and altogether, and you should be able to manage multiple currencies and tax procedures, depending on where you are selling. Luckily, most ERP systems today are now designed for use globally.

Customization

To ensure that your company is as productive as possible, you will want a system that you can customize to suit your unique business practices. Look for an ERP software that you can completely customize to fit your needs. Ideally, you should be able to keep the workflows that are benefiting your employees with your ERP system, while making changes to streamline the ones that aren’t. If your business has multiple locations, you should also be able to customize the software for each location.

At Michell Consulting Group, we can help you find the ERP software that is right for you so you can be more productive and grow your business. Our software solutions help companies in many different industries streamline their workflows and achieve their goals. If you are interested in implementing ERP at your company, contact us now to set up a consultation and learn more.

What Exactly is ERP Software?

ERP is a term you hear a lot in business circles. You may have heard it associated with the accounting department, supply chain people, or even the sales force. But, what exactly is it? If you own or manage a growing business, knowing what ERP software is and what it does is critical for your future.

The Power of a Single System

The letters E-R-P stand for enterprise resource planning, a term that is really not all that accurate into what the software does.

What does it take to run a business? Here’s a partial list of common tasks performed by businesses around the globe:

  • Keep inventory accurate
  • Manage orders
  • Handle accounting and bookkeeping
  • Deal with employees
  • Provide customer service
  • Sell products

ERP software integrates the essential functions of a business into one system. It uses a central database to manage all the information for the business. That means that the sales force has the same view into a customer’s account information that the accounting and order departments do.

Another desired feature of ERP systems is centralized reporting and automation. With a single system, there is no need to pull data from disparate sources into a single spreadsheet just for basic reporting.

Plus, automation allows information to be transferred seamlessly between business functions without any manual re-keying required. This reduces the chance of human error and delays in processing.

Many ERP systems offer a centralized dashboard that gives employees the ability to see performance on key metrics, often in near real time.

Where Did ERP Come From?

The origins of ERP go back to manufacturing in the 1960s and 1970s. Programmers had the challenge of creating software that monitored inventory, tracked manufacturing, schedule production, and reported status. By the 1980s, these systems grew to incorporate many other manufacturing-related functions and eventually started handling back-office functions like accounting and HR.

It was 1990 when Gartner coined the term enterprise resource planning for these highly integrated systems. These systems formed the basis for modern ERP solutions.

The Value of ERP

With ERP, there are essentially no barriers between departments or business functions. Everyone is working off the same information no matter what function they are performing.

An ERP system offers real-time data reporting, which allows companies to get ahead of problems and make rapid improvements. It helps businesses comply with regulatory requirements while also reducing financial risk. It automates key business operations such as moving customer orders to the fulfillment team and moving procurement orders to the accounts payable team.

Are you ready to learn more about how ERP software could help your business? Contact us now at Michell Consulting Group.

How CPQ and ERP Software Integration Is Benefitting Businesses

Today, many businesses are realizing how crucial it is to incorporate ERP software as a sales and marketing strategy. Any tool to help ease out the burden on configuring promotions and offers, giving quotes to prospective customers and even coming up with optimum prices is much sought after. This is where the CPQ (Configure, Price, and Quote) comes in as part of ERP. CPQ eliminates the natural shortcomings in any sales process by the provision of a single working hub.

Businesses that rely on manual data manipulation and guesswork end up wasting so much time, which they could otherwise have dedicated to tasks that are more important. In addition, relying on these outdated procedures makes it even hard to tell the progress that the marketing staff is doing in terms of efficiency and driving revenue.

CPQ software addresses the confusion and natural inefficiencies in the sales process through the provision of a single hub. Salespeople can now easily access useful information, which can be manipulated to create prices and quotes for potential clients. This is what your business needs to make a productive and efficient sales team.

What Are the Major Advantages of CPQ Software?

ERP software plays a role in configuring complex solutions. To be specific, without CPQ software, businesses will always struggle with long lead times and difficulties in the management of drawings, emails, and communications taking place before manufacture. CPQ allows stakeholders to communicate their needs and create bills of CAD drawings and proper pricing, all of which reduce lead times, streamlining the manufacturing process.

Apart from the configuration benefits, there is the ability to visualize user configuration. With the 2D and 3D automation, users can see the effect of their choices as they respond to questions concerning the products they are building. A picture is worth a thousand words, and in this case, it deepens your experience and you can then create exactly what you needed.

If you have a CPQ solution in place, you stand a better chance in the marketplace because your brand will always stand out. A trustworthy company is one that can easily configure, price, and quote a product, and this is what sets you off from the rest who have not yet discovered the importance of CPQ solutions.

Everything said it all starts with ERP software, narrowing down to CPQ which will help increase the sales by knowing the right product at a given time with the right price and also making your business stand out from the rest. Contact us at Michelle Consulting Group to learn more about ERP and ways to benefit from CPQ solutions.

Benefits of Using ERP Software and POS Integration for Your Business

Technology solutions play an important role in facilitating the smooth operations in modern-day businesses. There are many IT solutions that have been developed and tailored to help businesses achieve their bottom line. Two such solutions are:

  • Enterprise Resource Planning (ERP) software
  • Point of Sale (POS) system

ERP software is a business process management software, meaning that it is tailored to help business owners to manage and automate most of their back-office functions, especially those that are tied to services, technology, and human resources. A POS system is used to manage business transactions. Traditionally, these two solutions were used as standalone solutions. Innovations in the technology space have made it possible for the integration of these two solutions.

Key Benefits of Implementing ERP and POS Integration

  • Data integrity – Data used in one system can easily be used in the other, thereby helping you to determine whether the data used is reliable or not.
  • Maintenance of ledger balance – When you use an integrated system, you will be able to identify ledger balances and determine the cash flow for your business with ease.
  • Reduction in risk – When you integrate your ERP software with a POS system, you can ensure that your data is secured, and this ensures that the data keyed into the two systems is accurate, thereby reducing any chances of mismatch of data in the two systems.
  • Forecasting – ERP and POS integration will enable you to get an overall visibility of your business since you will be able to determine the sales, stock, and revenue levels; and with these, you can accurately forecast your inventory and stock up before you run out of stock.

Types of ERP and POS Integration You Can Choose for Your Business

Here are two main ERP and POS Integration

  • Real-time integration – This type of integration will allow you access to the system so that you can read the data directly.
  • Scheduler Base Integration – Data is first stored in readable formats such as text or Excel, then you can schedule the system to generate entries from the files at a specific time.

If you need ERP and technology solutions for your business, look no further than Michell Consulting Group. We can help you leverage the benefits of using ERP software in your business. Contact us today and let us discuss how we can partner for the benefit of your business.