In every business, innovation means forward momentum. It’s a dog-eat-dog world, and if we aren’t moving forward, we’re getting left behind. From greater market penetration to increased efficiencies, technology will bolster any business’ operations, building greater capacity to deliver. Yes, artificial intelligence is the real deal; no, the robots will not take your job.
There are various levels of technological adoption available to any business owner. While there are many reasons not to let your business tech become outdated, Thabiso Hlatshwayo, Enterprise Resource Planning (ERP) Subject Matter Expert at EOH Infor Services, an Infor partner, believes that there are five reasons that make timeous adoption crucial for business success.
rapidly changing customer demands
Modern business software ensures organisations are agile enough to respond to rapidly changing customer demands. “In the chemical industry, for example, technology drives purpose-built capabilities, empowering businesses to solve unique industry challenges; such as co- and by-products, costing, safety and intricate formulae,” states Hlatshwayo. Generic ERP solutions simply aren’t good enough anymore.
achieve a higher level of performance
In the industrial manufacturing industry, the right technology serves to improve global supply chain planning and transparency, meaning the business can achieve a higher level of performance with intelligent solutions, increasing both profits and customer loyalty. “ERP is critical to ensuring a timeous response to dynamic market shifts, global competition and supply chains, cost fluctuations, and accelerated innovation cycles,” says Hlatshwayo.
governance requirements are met
Competition is rife, and for any business to remain viable, it must have at least one unique selling point. “The food and beverage industry is no exception,” adds Hlatshwayo. In this highly regulated market, ensuring governance requirements are met will determine whether or not the business may stay in operation. Automating this process is essential to success. “ERP offers speed and innovation, allowing the business to meet and adapt to compliance requirements. From swiftly updating formulations, specifications, and labels to meeting constantly changing regulations, software provides a reliable solution.”
reporting and analysis
In addition to creating a responsive enterprise that exceeds expectations and is fully compliant, businesses that rely on advanced technology solutions have access to in-depth business reporting and analysis. “With insights into customer behaviour, internal performance and market trends, fact-based decisions can be made,” states Hlatshwayo.
better quality product and service at a lower cost
The last reason why businesses must embrace technology is for the ability to deliver a better-quality product and service at a lower cost (to both the company and the customer). “ERP tools are essential to efficiency, profitability and effective planning,” concludes Hlatshwayo. “Supporting staff goes further than fair remuneration and the right training. They also need the right tools to do the job. Technology offers the best of breed tools to ensure your workforce is delivering what your brand promises – only better.”
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