Growing businesses know it’s imperative to upgrade to a modern ERP cloud solution from their legacy system. But such a significant investment of time and money should be researched thoroughly and probably will require evidence of the return on investment. Acumatica’s whitepaper “ROI Analysis of Replacement ERP” provides the tools for doing that. The paper discusses how to measure ERP cost savings.
As a complete, cutting-edge solution for business needs, Acumatica’s cloud ERP platform allows small- to mid-sized businesses to integrate their business management systems (Financials, Distribution, Manufacturing, Project Accounting, and CRM) and access their information anywhere at any time through an all-inclusive user-licensing model. Legacy systems operate the opposite of this, yet many organizations still use these systems while competing in an increasingly complex technological and economic arena.
Because Acumatica administers an adaptable, easy-to-use, and scalable ERP system built for and run in the cloud, we are confident that businesses that run on legacy systems will profit from upgrading to a modern cloud solution.
Cloud ERP solutions provide the best ERP return on investment (ROI), which is an important consideration, and one that the CIO and application leaders making the decision to upgrade need to evaluate thoroughly. Part of the evaluation includes putting together an ERP cost-benefit analysis to see if the benefits outweigh the investment.
To assist in the decision-making, Acumatica has put together a whitepaper “Return on Investment (ROI) Analysis for ERP Replacement.” Download your free copy here. Before we go further, let’s first discuss legacy systems.
The scoop on legacy systems
The business management systems that you have been using for more than 7 years are the legacy systems. At the time of purchase, they may have been very good systems. However, things have changed, technology has advanced, and ERP systems have gotten better. With your legacy system, you must maintain old hardware and buy more licenses to add users. Plus, if it is that old, you most likely have difficulty integrating to other business systems, getting up-to-date custom reports, and accessing the data remotely.
Upgrading your ERP solution to a modern, cloud system can save on average more than 20% in IT spending and have been found to deliver 2.1x times the relative return on investment (ROI) of on-premise ones.
These drawbacks hinder your growth and you risk getting left behind, instead of staying on top of paradigm shifts in the software industry. As your competitors replace their systems, you lose the competitive advantage.
Upgrading your ERP to a modern cloud solution can save on average more than 20% in IT spending and have been found to deliver 2.1x times the relative return on investment (ROI) of on-premise ones. Clearly, upgrading legacy systems produces benefits for your company but there’s more to calculating ERP ROI and it can be complicated.
To help clarify the process, Acumatica’s free whitepaper breaks down your ERP cost savings and shows you how to:
- Choose the right method of ROI calculation.
- Include people costs in your projections.
- Identify the direct and indirect benefits of your ERP project.
- Account for both first year and ongoing costs.
- Predict and measure your future business success.
Download this free, business-transforming whitepaper for yourself today.
Upgrading to a modern ERP: Is it worth it?
Crestwood Associates recently helped Firewire Surfboards upgrade to a modern-day Acumatica ERP solution, from their legacy system of the past 12 years. While still a startup company, Firewire Surfboards purchased a low-cost ERP and used it for basic transaction processing and as a company database. As the eco-friendly company grew, CFO, Tex Vertongen, and Controller, Franklin Shiraki, lacked visibility into the firm’s European distribution entity and the finances of the company’s weekly production operations.
Shiraki also spent a large amount of time recreating financial reports that could have easily been automated with a more robust system. The finance team wanted a modern ERP with an open platform aligning with the company’s ambitions towards innovation. Firewire invested in Acumatica’s low-latency, high performing Cloud ERP (which beat out SAP) and gained an affordable, flexible ERP that will help Firewire maintain its competitive edge and remain a market leader in high-performance, sustainable surfboards.
What’s holding you back?
Acknowledging the need to move to a modern, flexible, and easy-to-use ERP solution, researching the many options available and implementing your ERP of choice is a straining but necessary process. Take a moment and read the whitepaper about how to perform an ERP cost benefit analysis; it’s essential for calculating ERP cost savings that lead to success and growth.
No one understands the incredibly challenging task of upgrading a legacy system more than the team at Crestwood Associates. We helped Firewire Surfboards and can help you too as you make this critical and forward-thinking decision. We want to assist in your business’ growth as you look to the future. Contact Crestwood at email@example.com and we’ll start the process that will change your organization forever.