Why slow business is a good time to implement ERP
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When business is slow, your first inclination may not be to purchase new business software. However, times of slow business can be good opportunities to implement a new enterprise resource planning (ERP) solution or upgrade to the latest version. Still not convinced? Here’s six reasons why.
- Work is slow: This may seem obvious, but when business is slow, the workloads for some of your employees are likely lighter. Having the right people on your team for an ERP selection and implementation is almost as important as choosing the right technology. When these employees have less on their plate, they can shift more of their focus to the ERP project.
- Evaluate your processes: A major advantage to running your business with an ERP system is the automation of manual processes. However, sometimes identifying these processes takes time and effort. When the economy is booming and work is flowing in, finding time to evaluate what can be done more efficiently seems like an insurmountable task. No business is perfect – take advantage of the down time to figure out where you can improve.
- Consider your priorities: What are your organization’s priorities? This is a big question to answer when determining your ERP selection criteria. There are a number of solutions on the market, but not all of them will be right for your business. Understand what is important to you and is necessary for your ERP system to address.
- Trial and error: Thinking of making some changes to how your business operates, but don’t want to negatively impact sales? When business is slow, use that time as an opportunity to explore new ideas without major disruption. Do some competitive research – how are your closest competitors performing? Take stock of their strengths and test them out.
- Prepare for better times: If your organization is experiencing slow business now, it likely won’t be that way forever. Look to the future by identifying how you want to grow your business. Not only will you have a roadmap for the future, but it will also inform your decision on the types of ERP systems that are right for you.
- Leverage opportunities: Businesses tend to cut marketing funds early when business is slow. However, this is not the time to stop communicating with current and potential customers. Many ERP solutions, such as NetSuite, include sales and marketing tools and modules as part of their core services. Implementing an ERP system during slow business can increase marketing and sales efforts while contributing to an overall strategy for when business picks up again.
It goes without saying that organizations would rather not experience slow business, but the reality is that demand will go through cycles. Maximizing slow times by considering the future of your company and implementing an ERP system to facilitate that progress will ensure that when sales pick up again, you’ll be poised for success.