Rapid growth for modern businesses brings a spectrum of unforeseen obstacles and complexities that can sneak into operating and financial systems, slowing productivity and workflow as a result.
A CEO understands that because each company grows at their own pace, for their ERP software to retain efficiency while also accommodating growth, a static, on-premises ERP solution doesn’t work.
To succeed in a local or global market, growing businesses need an enterprise resource planning solution that fits their growing operations for today, and tomorrow. That kind of requirement demands scalability.
Blog: A Guide to Understanding, Choosing, & Implementing an ERP System.
Integration
Forward-thinking companies typically operate with efficiency by using multiple software systems to meet varying departmental needs. However, as they grow, they quickly find that to retain data integrity and accuracy as information travels through the necessary channels, they need to choose an ERP solution that integrates with their other software already in place.
For an ERP system to speed workflow rather than hinder it, system integration is key.
When the CEO chooses an ERP solution that integrates with their other solutions, it means a faster quote-to-cash process. Sales data travels effortlessly along the pipeline, freeing up time for teams to adapt to fluctuating workloads and new tasks. Effective integration also means new product lines or company modifications can happen more efficiently and with less system errors.
Adaptability
CFOs and CEOs find that as businesses expand, metrics change, and decisions need to be made on the fly to keep the company afloat. However, it can be difficult, if not impossible to make informed decisions by pulling numbers out of the air, or worse, by delaying action altogether because they don’t have the data they need when they need it.
Decision-makers need increased visibility and real-time data to drill down into their metrics to make quick, well-informed decisions. Data needs to be accurate, and deeply transparent, and at-hand whenever they need it.
Expanding businesses also need ERP software that offers flexibility in all the right places. Financial systems must bend and flex to manage large transaction volumes, new entity set-ups and global consolidations with multiple currencies. This means growing companies can adhere to critical compliance and auditing requirements while managing growth.
Security
Everything becomes more complex with expansion. More data means more heightened security, and more potential for compromised data. Regular security adjustments need to accommodate increased transaction volume, client data, new users and user permissions.
In the earlier days of their business, where a CEO found a great fit from small-scale security, they now find a weakness. As a company expands, the likelihood of potential threats, security breaches and permissions flaws expands too.
However, when those companies move to the cloud, their cloud ERP software solution takes on the security burden. Updates happen on-time and behind the scenes and IT tasks are all handled within the cloud. These companies get lock-tight security without the added expense and burden of taking on more employees or setting up a new IT department.
Limitations in ERP means limitations with how you grow, but with a best-in-class ERP cloud solution like Intacct, integration, adaptability and security means the growth possibilities are right-sized and endless.
- Customizable reporting and expert integration options mesh with other best-in-class solutions to deliver critical data and information to everyone who needs it - from sales teams to financial teams, down the line.
- Real-time deep visibility delivers CFOs and CEOs key performance indicators at a glance from Intacct’s Dashboard for expert decision-making, and defining financial and operational targets.
- Customizable permissions and security options, along with safeguarded data centers, with IT experts work 24/7 to keep data accessible and in the right hands, everywhere in the world.
When your business expands, finding a scalable ERP solution is a no longer a luxury but a necessity. Let our experts show you the right ERP fit that adapts in lockstep alongside your business now, and in the years ahead.