According to Gartner research reports, Indian industrial market is expected to touch USD 7.1 billion in 2018. This signals the growth opportunities for various business that can soon be seen. Organizations, which are ready to plunge in such pool of opportunity, will be able to acquire the crest of success. However, it is inevitable that every new scope, brings a level of glitch associated to it.
Scale is not restricted to just size, it can occur up, across & out. Upward scaling presents the scope of gaining efficiencies. Horizontal scaling helps apply the capabilities acquired from one organization to another, while outward scaling interconnects internal & external platforms along with ecosystems.
Let’s take a quick look at some factors that fuel scalability-
- Vision- Companies often do not initially focus on the need for scalability, but as their business grows, their requirements for managing information evolves. It is important to keep a long term growth vision in mind. Growth often does not always come as planned for, sometimes sudden increase in sales, increased product momentum, dynamic regulatory changes etc. may result in unplanned growth. To address this situation, a business must ensure the investments made in technology & solutions are such that ensures, company has room to grow in a multi-faceted way.
- Embracing the digital wave- The digital arena is a continuous state of flux, in the current scenario, technology is updating/upgrading at a rapid pace. To successfully operate in this dynamic digital world, organizations need people who embrace the new changes deftly.
- Network effect technologies- This unique set of technologies, creates virtuous patterns of growth, where waves of disruption build upon each other, exponentially. 3 network effect technologies to focus in 2018 include: The Internet of Things (IoT), application programming interfaces (APIs), & artificial intelligence (AI). With IoT, more products & devices are connecting to the internet making it possible to funnel more data automatically into an ERP system. The entire system, provides a clear view of processes like shipping details, supply chains, appliance performance, etc. Harnessing the power of this data funnel, could be invaluable for businesses across all industries.
- Industry 4.0- Or Smart Factory, is driven by a combination of emerging technologies like data volumes, digitization, Internet of Things (IoT), business analytics, artificial intelligence, simulation, advanced robotics, additive manufacturing, sensor based technologies & cyber- physical systems. Industry 4.0 would mean, the convergence of real & virtual worlds - the next phase in bringing together conventional & modern technologies in manufacturing.
Scalability, is the primary concern of the organizations that are expanding their base presence & operations. It is the ability of a system to accommodate growth. The ability, to handle huge volume of data & increased number of users with uninterrupted business processes is critical. This is where the role of an ERP solution comes to play.
Scalability, is an important feature of an ERP software. The solution should be such that is able to accommodate the growth of your business & not act as a roadblock to this growth.
You may have started out with multiple solutions, to manage different processes. However as your business grows & expands, the rationale to have a comprehensive integrated solution arises. This is where an ERP can significantly contribute. Growth, if not handled efficiently can lead to your downfall & result in losses.
The above has made several businesses, to opt for new age ERP systems that help in attaining process efficiency & scale up as per the business requirements. Another interesting statistic from Gartner to note is, the amount of spending’s on ERP software in India, is set to increase by 15.3 % in 2018. This forecast highlights that companies are now getting more aware of the impact of technology solutions on their growth.
Savvy ERP buyers understand, that the ability to protect the investment in the future, is critical in the process of researching an ERP software. ERP upgrades & your growth should be seamless, & you should not have to suffer significant downtime, or have to install new software, just to cope with additional manpower, introduction of new product lines or expanding your presence in different countries.
A scalable ERP solution can help with the below:
- Increased productivity: A scalable ERP solution should be able to handle, huge volume of data & help in increasing productivity by providing different type of analytics & reports as per your requirement. It should be based on the real time data inputs. Employees should feel empowered & empowered employees are the most productive.
- Mobility: Quick decision making abilities on the move, can help you take decisions leading to growth efficiently. Your ERP should be available for access through any device, be it a desktop, laptop, mobile etc.
- Better visibility: As a business grows, the scale of operations increase, this may challenge the data visibility & flow of information. A scalable ERP, should be able to address smooth data-flow across departments & provide accurate insights.
- Cross-platform competencies: If your ERP software can be used in multiple platforms- cloud, on-premise or hybrid, it can prove be a highly scalable solution.
- Customer service: As your company grows, so will your client & partner base. A system that tracks the complete record of your customers, can help you to take proactive decisions in improving customer service, experience & manage/run loyalty programs effectively.
- Easy to use: A scalable ERP solution should be easy to configure & operate. To scale efficiently, time is of prime importance, if users have to spend days to understand & operate the solution, it will result in loss of productive man hours, which if traded off can lead to inefficiencies.
- Data security: One of the top reasons driving new ERP purchases is that lack of functionality has caused users to not be able to access and analyze data with the tools available within their system. Having multiple tools, to manage business critical data can increase the chances of exposure to data theft. One of the advantages, of having an ERP is, to have all the information consolidated at one place, instead of managing multiple systems. ERP systems will develop tighter controls to help protect business data.
In today’s data driven world, businesses require fast & secure transactions, quick business insights, ability to take decisions, while on the move etc. There are several new age ERP solutions that help in optimizing the business operations. However, it is necessary to select an ERP solution that integrates different processes & scales itself with regulatory requirements, while supporting growth of your organization.
EPPS ERP solutions understands the importance of growth for your business.
It is our aim to provide efficiency in your operational processes & help you run your business without any interruptions. Innovative, technology-driven & user-friendly solutions will meet your business requisites & contribute to the pace of growth.
We are committed to provide solutions best suited for SME’s, empowering your journey towards growth & making business simple.
Move your business to the next level, focus on what’s important & let EPPS ERP solutions do the rest! Click here for scalable ERP solutions.