A successful business requires skillful management of time, finances and information. Various business information and resource management systems (CRM, ERP, etc.) help implement it, significantly speeding up daily processes, such as inventory accounting, sales, service management, accounting and many other functions. However, their implementation is not a one-time process. The development of both the business environment and technology is so rapid that existing tools may not fully meet the needs of the business after several years, so market research and evaluations of the latest technology applications need to be conducted on a regular basis.
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Modern enterprise resource planning systems can enable innovation and ensure continued competitiveness, efficiency improvements and business growth. On the other hand, if they are out of date, they create various restrictions for business development, for example if they are not suitable for working remotely or no longer meet the latest security and data protection requirements. The more automation tools are introduced, the greater the possible saving of time and financial resources will be, but how can we not go wrong today with a choice whose consequences will be felt for several years to come?
When deciding to purchase a new software solution, it is important to evaluate the manufacturer’s strategy and investment in product research and development, as well as the reviews of the manufacturer’s representative in the local market. In addition, the amount of innovation offered by the specific manufacturer, the breadth of the product ecosystem and the adaptability to specific business processes are also important.
I recommend comparing the budget allocated for research and product development (R&D) of the major software producers: “SAP AG” invests in research and development every quarter approximately 1.6 billion US dollars“Oracle Corporation” – 2.1 billion US dollars“Microsoft Society” – 6.85 billion US dollars. Larger investments over a longer period of time guarantee leadership: they allow you to create more multifunctional and sustainable products, as well as allow you to experiment with completely crazy ideas, which over time can become a unique product or service that changes our daily life .
It should be noted that there are also a number of smaller and specialized companies offering highly customized and innovative solutions for specific sectors, such as manufacturing, supplying specific services, etc. Startups also tend to provide innovative and possibly very competitive solutions in terms of price, however, the sustainability of these products should be evaluated very carefully, especially if the company has only recently started the business and only a small number of customers use the product.
The scale of the ecosystem is also important: how many companies and how they collaborate in implementing solutions, creating innovations and developing products for specific requirements, because not all needs can be met with the help of software manufacturer standard. Third-party solutions, which are born as supplements to the platforms of the major manufacturers, play an increasingly important role. This allows you to quickly obtain solutions created in a completely different part of the world, adapted to the business processes of a perhaps very small sector, without the need to reinvent the wheel.
The most successful technology companies pay special attention to partner ecosystem development and joint product development, such as “Microsoft”, “Salesforce” or “ServiceNow” offer thousands of ready-made business adaptations developed by partners in their businesses ” application stores, the purchase of which allows customers to quickly obtain a solution adapted to a specific industry or process. If such a custom solution is not already available, the organization must choose a local manufacturing partner who will be able to both understand the specific requirements of the organization and be able to adapt the standard software to its needs.
For the reasons mentioned above, in choosing a modern enterprise resource planning system, I recommend combining the innovations of the world’s leading manufacturers with the experience, stability and availability of local partners.
