Once upon a time, a young couple was living in a busy town. As they settled in, they decided to purchase their own house. They instantly purchased a tiny apartment.
As their kids grew up, the space was not enough, so they rented an extra room within the same building. It was a hassle for kids to study, so they rented another room to study. They soon realised that living in a tiny apartment and two rented rooms was impossible. The couple struggles to know what the kids are doing. Similarly, the kids had no direction from their parents too.
With the lack of visibility and communication challenges, they moved to one bigger house. This time they took the opportunity to know their requirements and bought a place that meets their family’s needs.
The moral of the story: Before making any considerable investment, take time to understand your needs. Research what is available and don’t rush your decision.
Unfortunately, many Small and Medium Enterprises make the same mistake. They initially buy random Finance software. Then, as the business grows, they invest in other bespoke and commercial off-the-shelf software. Before they know it, the digital landscape becomes complicated and expensive to manage.
If you are an SME executive or owner, you must know what ERP can offer to your business. Being ignorant about ERP is not okay!