Last week, we took a look at the rewards and risks associated with companies attempting to globalize. We also discussed how ERP software can respond to these and assist in building the foundation needed to be an international business that has success. You can learn more by visiting here. Now that we know that enterprise resource planning (ERP) solutions are foundational to mid-sized global business success not only for your business here in Toronto or within Canada but throughout the world, let’s take a closer look at the factors that lead to this success and can assist you in finding an ERP system that fits the bill. The selection and implementation processes associated with this must be carefully prepared and planned, and these factors can help guide you in those processes.
ERP Success Factor Needed for Successful Company Globalization: Agility
Global competition is tough, and a business must be able to beat out the competition in terms of reaction time and efficiency. In essence, it is all about being agile. Agility can be achieved with ERP software that keeps up with internationalization’s functional and technical demands. Flexibility and simplicity are essential in solutions that can keep up with complex application areas and diverse business processes.
ERP Success Factor Needed for Successful Company Globalization: Suitability
As a mid-sized business in the Greater Toronto Area, you will need to be careful that your ERP system is suitable for the needs you have to become more globalized without being an overly cumbersome and expensive solution that was actually designed for large corporations with unnecessary robust functionalities that are costly to a business your size. A suitable ERP software should be modular meaning it is available in different versions. This will allow all requirements to be accurately met while also being scalable. In addition, the solution should be quick and straightforward in how it is implemented. Standard processes should be pre-configured for ease of use, and these processes should be able to be adjusted quickly and on an individual basis. User operations should be simple, straightforward, and easy to use.
ERP Success Factor Needed for Successful Company Globalization: Incorporation
For mid-sized businesses that want an international presence, they cannot waste time using a variety of separate systems. Instead, their ERP system should integrate all of the company’s management processes in a global database and give users access to this information in one standard systems. Integrating resources, information, and knowledge increases efficiency and allows for speedy reaction to new market trends.
Learn more about out IWI Consulting’s ERP system offerings: Sage ERP X3 here and Sage 300 ERP here. Then, download our whitepaper “Success on an international scale: what an ERP system can offer” for more information about globalizing, what features are needed in your ERP system, and for helpful checklists including an international strategy checklist and steps to finding a suitable solution checklist that can help your business in this process.
Our small and dedicated team specializes in helping small-to-medium size Canadian businesses and non-profits select and adapt Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resource Management (HRMS) and IT services. With IWI’s 15 years in business and 100 plus years of combined experience, IWI has helped hundreds of manufacturing, distribution, and financial service companies gain efficiency, grow, and lower their operating costs.
With the unique combination of industry knowledge and diverse technology expertise, IWI provides cost-effective solutions to help clients gain a competitive edge. As a Sage business partner, servicing the Greater Toronto Area, we support evaluation and implementation of operations and finance systems to optimize technology, ensuring high return on investment with a quick and painless transition to new software.