The Growing Fear of Disruption and how it Relates to ERPs
Disruption is a fear for members of any industry. It entails the upheaval of the status quo, and if you’re sitting pretty, that’s not what you want. The last two decades have seen a rapid rise of digital technologies, which in many cases, have acted as the catalyst for disruption.
Retail stores have been hit by online shopping agencies, while Uber has carved out a massive amount of revenue hitherto earmarked for taxi drivers. These are but two of many examples.
For an established business, the prospect of a new competitor, or a change to the common method of doing things, can be terrifying. Can we react to a new innovation in time? Can we take advantage of it? Can we survive using old practices when a more efficient method has arrived?
These are questions companies are forced to ask themselves, and often, answer hesitantly. Being able to adapt quickly is key, and traditional infrastructure is not built to turn on a dime.
In a white paper commissioned Mint Jutras (sign up required), 88% of businesses say they feel at risk of disruption. While there may be a multitude of factors that determine a company’s confidence in its ability to react, one of those factors is the flexibility of business management software.
ERPs are trending toward flexibility, but some companies remain entrenched in the old method, relying on a legacy solution that would take months, and thousands of dollars, to upgrade.
The findings of this white paper demonstrate the value of a flexible and configurable ERP system that can move to accommodate new demands. Coupled with superior functionality, the investment in a high-quality business management solution can wind up saving lots of money – and maybe a whole business – in the long run.