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Decision making may be one of life’s hardest skills to master. So many of us excessively ponder the pros and cons to the point we can’t decide either way. While such overthinking, or “analysis paralysis,” mostly centers on the cost of making the wrong decision, we rarely consider how much it costs us to do nothing at all. In other words, the cost of inaction often doesn’t show up on the company ledger.
There are plenty of examples of small or mid-sized businesses (SMBs) that have faltered or have not achieved their growth potential because they have failed to make a decision and have not acted. They’ve chosen to sit on the sidelines as their competitors boldly and decisively transform their operations. More often than not, these digital transformations include implementing a modern, cloud-based Enterprise Resource Planning (ERP) solution that connects their systems, processes, and data onto a centralized platform, delivering increased efficiency, collaboration, and profitability.
The SMB that does nothing (e.g., continues to rely on their tired, disconnected systems) may do so for several reasons. They may believe they’re too small to need one or fear moving to the cloud. They may also count the cost and time of a digital transformation as too high. Though understandable, their “analysis paralysis” is costing them.
Today, we’ll examine how SMBs like yours are wasting opportunities through indecision and not fully realizing their growth potential without a cloud ERP solution.
How You’re Wasting Growth Opportunities—and Your Potential—Without a Cloud ERP
Here are four ways your outdated technology is costing you.
1. Time
Time—like money—is a limited commodity, especially as an SMB struggling with ongoing labor shortages. With only so many hours in a day and fewer workers at your disposal, you need your employees to work efficiently, but requiring them to log onto separate systems to fulfill their tasks and to collaborate with other team members is time consuming, labor intensive, and expensive.
2. Data
The time it takes to switch between disconnected applications is exacerbated by the fact that each application may house the same data. Such redundant data clutters up the database and can make reconciliation challenging. On the flip side, if the data is not shared with the other applications, employees are required to laboriously transfer data from one platform to another.
3. Errors
Human error is—for the most part—inevitable. Relying on outdated, unintegrated technology that requires manual input increases the chance for mistakes to occur. It also increases the chance that these mistakes will go unnoticed, resulting in potentially expensive consequences down the road.
4. Decisions
The best decisions are those based on trustworthy data that’s accessed quickly and easily. Unfortunately, limited efficiency, disconnected data, and human errors severely hamper your ability to access this vital information, thus hindering your ability to make fast, strategic business decisions.
Ultimately, when these issues work together, the results can be costly, including such damaging outcomes as decreased sales output, slower delivery times, and customer dissatisfaction.
Why You Should Invest in Acumatica Cloud ERP
If it’s true that you’re wasting growth opportunities—and your potential—without a cloud ERP solution, then the opposite must be true: you can create growth and save money with a cloud ERP solution. But there’s a catch. You must make a decision and select the right solution. Fortunately, based on real-life customer and industry analyst reviews, that decision is easy. Acumatica is that solution.
Nucleus Research, a global provider of ROI-focused technology research and advisory services, recognized Acumatica as a leader in its June 2023 SMB ERP Value Matrix report, which notes:
Acumatica’s cloud ERP solution is engineered to be easy to deploy, with a large ecosystem of ISVs to meet the needs of the mid-market. Its ERP platform includes accounting, sales, inventory, warehouse management, project management, customer management, and shopfloor applications, built on an open and secure cloud architecture. This provides users with constant availability, seamless remote collaboration, and enterprise-grade security.
With Acumatica, you can quickly cease your money-wasting ways. Our modern, cloud ERP saves you money and enhances your potential in many ways, including:
- Boosting efficiency by storing all data within a centralized database, making it easy to access updated, accurate information.
- Automating tasks, including manual data entry and reporting, which will reduce human error and streamline business processes.
- Reducing labor costs by eliminating unnecessary roles and by providing a single, intuitive system that’s easy to learn and to use.
- Providing accurate and accessible data to make better and more business-enhancing decisions based on real-time data.
Says Acumatica customer Edward Cohen, CEO of Boca Terry, “If someone is dealing with two to three or four different applications all day long, Acumatica is the way to go,” Acumatica is a no brainer.”
He adds, “Acumatica is allowing us to run the company better. We’re much more efficient, we have answers quicker, and it gives us confidence in what we’re doing on a daily basis. We have accurate information at our fingertips and can make decisions quickly.”
Stop Leaving Your Money on the Table
If you’re interested in learning more about the many cloud ERP benefits provided by Acumatica, start by calculating your potential ROI by using our interactive calculation tool, which is based on a Forrester Consulting study, The Total Impact™ of Acumatica Cloud ERP. The study, which was commissioned by Acumatica, found that businesses that implemented Acumatica enhanced their operational efficiency by 45%, improved their gross margin by 15%, and increased their sales volume by 15%.
It’s time to stop leaving your money—and powerful cloud ERP benefits—on the table. Contact our experts today.
