Implementing a new ERP system is often a long-term project that can slow down or even interrupt your operations. For these reasons, firms sometimes decide to wait a few months or even years before implementing a new ERP. However, the reality is that growing businesses will not have more time later!
Moreover, a firm looking for a new business management system is generally experiencing frustrations, most often related to management and accounting. By postponing your ERP implementation, you risk encountering or even worsening the following situations:
Increased employee workloads
Your various teams will only get busier, while they could benefit from tools facilitating their tasks. This is even more important with the current labour shortage, which can make it difficult to hire new employees.
Lack of visibility on key data such as project profitability
By having a detailed view in real time on project activities and tasks, you can have a better idea of your project profitability. If you wait, you might instead increase the risk of errors, delays, and cost overruns.
Difficulty obtaining the reports needed
An ERP system such as Microsoft Dynamics 365 Business Central can quickly provide the reports you need. Otherwise, managers and might have to wait a long time before obtaining the reports they want, and data may not even be up to date by then.
Time-consuming, complex invoicing
An ERP can automate and accelerate your invoicing cycle, so postponing its implementation can delay follow-ups and slow down your cash flows. As a result, the risk of write-offs and bad debts may be higher as well.
The result is that firms don’t have all the tools and data they need to make informed decisions and complete their projects. The longer you delay your ERP implementation project, the higher your risks of losing money and even employees.
Of course, an ERP implementation project is an important investment for your firm. However, financial aid and tax credits are available to help businesses in Quebec and Canada to update their IT systems and avoid these situations. To learn more, read our article Move forward with your ERP/CRM project thanks to financial aid or contact JOVACO.
