Keep it Simple, Manage Risk, Maintain Control
Every company has aspirations to grow. Growth is exciting, yet it can also be challenging, especially for those companies that have already transitioned from small to mid-size. While that transition may not necessarily have been easy, all the low hanging fruit has been picked and the clear and easy paths to growth have already been traveled. Operations are more complicated now and new paths to growth are riskier. It is no longer easy to keep your business simple and the Enterprise Resource Planning (ERP) solution that got you to your current size may not be sufficient to power you through to the next level of growth.
You need to start thinking and acting like a big company long before you have the budget or the staff of a large enterprise. In order to maintain good governance and control, provide a high level of business consistency and efficiency, and speed decisions that minimize risk, you need to arm yourself with the right enterprise applications and technology. A next generation business solution running in the cloud may just be your ticket to scale your business. You need cloud ERP.
In some ways, the more things change, the more they stay the same. Growth aspirations aren’t new. Companies have always looked for opportunities to expand and grow either organically or through mergers and acquisition (M&A). And let’s face it; there are only so many different ways your company can grow. You either add new products (or product lines) or sell more of the products you already offer. That may sound simple enough, but most often it is anything but simple. While on the surface little seems to have changed, in reality a lot has changed.
Historically expansion into new territories still kept you within established economies. Today completely new markets are opening up in emerging economies. Not only does this result in increasingly remote and distributed environments, but added risk and new challenges in maintaining governance and control.
Innovation, advanced technology and the Internet have combined to open doors to opportunities all around the world. New consumer middle classes have sprung up in countries that were hardly industrialized a short decade ago, creating unprecedented growth opportunity even for small to medium-sized enterprises (SMEs). But in tapping into these opportunities, SMEs venture into uncharted territory. Not only is the demand for product and services untested, but also there is no rich pool of local talent well versed in business and technology. Mid-size companies in particular will find governance and control even more challenging. At the same time expectations are accelerated: consumers, shareholders and Wall Street all expect everything to happen more quickly.
To capitalize on this opportunity, mid-size companies will need to take some chances and be willing to fail, but fail (or succeed) rapidly in order to move on to the next opportunity. They will need to leverage technology in order to simplify, manage, control and reduce risk, but they will also need to move quickly. They will not have the deep pockets or the time needed to build out infrastructure. They can’t afford to take years to implement solutions to run the business.
Cloud ERP to the rescue. No capital expenditure required; no need to build out a data center, or even put hardware or a huge information technology (IT) staff in country. And Mint Jutras research shows that solutions delivered as software as a service (SaaS) reach their first go-live milestone 14% faster.
The access any time, from anywhere nature of a cloud solution is conducive to supporting distributed users and bringing up remote sites rapidly and easily. While cyber-security is an understandable concern to all today, SaaS solution providers not only deliver added security, but also the peace of mind of business continuity in the event of a disaster, either natural or man-made.
If you are interested in exploring the people challenge, the risk, the value proposition by persona and learning more about maintaining governance and control through the growth process, Click here to read the full report.