How to know when it’s time to upgrade your company’s enterprise software. Three signs that tell you your software is in need of an upgrade.
Are you missing the signs that it’s time to upgrade your enterprise software? As companies evolve, the software used to manage a business must too. When your enterprise software doesn’t evolve with your company, it can hinder performance and restrict the financial growth of your business.
Think of it like this, when we purchase a home, we invest in it by maintaining, updating and configuring it to meet our ever-changing needs, right? Enterprise software is no different. It too must be maintained and updated, as a company’s needs change. To ensure your software continues enabling you and not disabling you, it’s important for you to be able to recognize the warning signs.
Three signs that it’s time to upgrade
Your system’s architecture and technology lack adaptability and agility.
Your enterprise software’s architecture and technology must be agile and adaptable so that you can keep pace with changes in your industry and so that you’re able to respond to today’s challenges. It should include functionality that is powerful enough to extend into other areas of your business, allow you to scale up or down at any time, integrate with your other systems and be able to keep up with new or changing regulations.
When your system lacks adaptability and agility, look for these red flags:
- You’re unable to meet new regulations
- You’re unable to diversify your business
- You’re unable to expand into new territories
Solution: Consider upgrading your system so that you are able to adapt to change and respond to today’s challenges. As Charles Darwin once said:
“It is not the strongest or the most intelligent who will survive but those who can best manage change.”
There’s a lack of visibility or operational intelligence.
In addition to managing and automating processes, enterprise software plays a vital role in company decision-making. For your business to make decisions quickly and accurately, your software must provide you with a 360-degree, enterprise-wide, top-to-bottom view of your operations.
When your system isn’t providing the necessary visibility or operational intelligence, look for these red flags:
- The data you receive from your system is not provided in real-time
- You’re unable to monitor the performance of your business against your business goals
- You’re unable to optimize your operational processes
- The data you’re able to pull from your system isn’t helpful or relevant
- Your system isn’t mobile and it prevents you from having real-time visibility of your operation
- Data cannot be displayed visually, preventing you from being able to make decisions quickly
Solution: Consider upgrading your system so that your business is able to make decisions quickly and accurately at any time, from most anywhere. As to why visibility and operational intelligence is important, I think media proprietor, Rupert Murdoch, said it best:
“The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”
You’re unable to embrace and capitalize on industry and technology changes.
With the rate of technological advances increasing, all industries are going through a chaotic and dynamic period of change that’s only expected to accelerate over the next ten years. For businesses to be able to embrace and capitalize on these industry and technology changes, your enterprise software must be able to manage and control change to limit disruption and benefit from it.
If your system is preventing you from embracing and capitalizing on change, look for these red flags:
- Your system doesn’t integrate or utilize the latest technologies
- Emerging technology is more disruptive than helpful
- You feel your organization is losing its competitive edge
Solution: Ask your vendor what new and cutting-edge technologies they have available. New innovations are emerging every day so it’s imperative that you maintain your competitive edge by utilizing the tools available to you. I’ll leave you with these final words of inspiration from author, Seth Godin:
“Change is not a threat, it’s an opportunity. Survival is not the goal, transformative success is.”
If it’s time for you to upgrade, consider attending IFS World Conference 2016
Having to upgrade your enterprise software doesn’t mean it’s no longer a valuable tool for your company. It simply means your software hasn’t evolved with your company and it needs your help to do so. By maintaining and upgrading your system when needed, you will ensure that your once perfect-fit solution continues to be a perfect fit for your business. If the signs are telling you it’s time for an upgrade, here’s what you need to do next:
1. Meet with your team and make a list
Before you reach out to your vendor, meet with your team and make a list. Ask the daily users of your enterprise software to elaborate on the pain points they’re experiencing as well as the features and functions they desire. Once you gather this information, make a prioritized list that you can share with your vendor.
2. Meet with your vendor
With your prioritized list in hand, meet with your vendor to discuss available upgrades. If your vendor is IFS you’re in luck because the IFS World Conference 2016 just around the corner. IFS World Conference is the best way to meet with your vendor and discuss your options because everything you need to know is presented, demonstrated and available for discussion on-site, October 25-27 in Gothenburg, Sweden.
The event offers three action-packed days of keynote speakers, break-out sessions, advanced training, product demos and networking opportunities with peers and industry experts from around the world. More importantly, there’s a break-out session focused specifically on upgrades as well as a variety of sessions that address each of the three signs listed above.
3. Review your options
After meeting with your vendor, the next step is to review the options available to you. As you review your upgrade options, ask yourself the following questions:
- Will this help future-proof the business?
- Is it easy to implement and extend?
- Will it help the company to see clearer and move faster so that you can make quick and accurate decisions?
- Do you have complete visibility of your business?
- Can it help you turn new technologies into new opportunities?
With the business landscape developing at rapid pace, even the smallest changes can have a huge impact on your organization and I highly recommend attending the IFS World Conference 2016. This is the best place to learn more about upgrades and how your business can transform change into a competitive advantage — whether you’re an IFS customer or not. Visit our event website for complete details and registration and follow us on social media for the latest event updates, blog posts, news and resources. We’re happy to answer any questions you may have about upgrades or the IFS World Conference. Just leave us a message using the comment box below.