Updating your ERP
For SMBs and enterprise-level businesses, implementing an ERP (enterprise resource planning) is a worthwhile 
investment. ERPs are an excellent tool for business management and encompass the functionality for inventory management, marketing and sales, manufacturing, payroll and more. Once implemented, your ERP system should last around 15-20 years. However, to make the most of your system, periodic updates are necessary. When should you upgrade? Read on to find out.
Just because an update is released, it does not mean you need to update immediately. It is recommended that you evaluate your ERP package roughly every five years to ensure you are receiving the best return on your investment. Since technology is always rapidly evolving, it is important to stay with it so you don’t fall behind. Cloud-based ERP packages are increasingly popular and allow employees to access information virtually anywhere. Also, as businesses evolve so do some of their modules. Updating your system ensures you have the technology to stay competitive and eliminate older, unused modules. However, updates can initially be a bit buggy, so it can pay off if you hold off on upgrading.
The older your ERP version is, the more difficult it becomes to obtain the necessary support. When issues arise, your IT team can be tied up for longer than necessary. By leveraging a more recent version of your ERP, you are likely to have an easier time with support from both the publisher and VAR’s.
Updating your ERP can be a costly and a bit of a pain, but can help your business if your ERP is teetering on the edge of being outdated. If after performing an evaluation of your system and its determined you need to update make sure your company can handle it effectively. Set aside the appropriate resources and ensure you have the capacity to update. Even if your ERP is cloud-based and will not require physical installation, your team will still need time to adjust to the new functionality and features.
