Uniconta South Africa CEO Keith Mullan says businesses must adapt quickly as ageing business systems (ERPs) fail to meet today’s business demands. And to survive, he says, leaders need to modernise and find more effective ways to run their businesses.
The global ERP market is expected to grow at a compound annual growth rate (CAGR) of 7.45% to US$49 billion by 2023. Market Research Future says this massive adoption of ERP software is largely due to increased transparency and operational efficiencies expected from organisations.
There is also a high adoption rate for affordable cloud-based deployment models, which is currently driving the growth of ERP software market. Cloud ERP software offers more flexibility to businesses and is designed to help customers streamline their business processes, accelerate their growth and connect all aspects of their business.
Uniconta is a Cloud ERP system for small and medium size businesses, specifically developed to help companies work more efficiently, faster and achieve their business goals easier. It is designed for businesses that need fast access and security.
Mullan says modern Cloud ERP solutions enable management to obtain a complete real-time view of their business anytime, anywhere.
“These systems can also be easily accessed via mobile devices like smartphones and tablet,” he said. “This alone provides a huge competitive edge; it enables efficient and smooth functioning of the business.
“Many companies are still running costly legacy ERP systems and they urgently need to review the cloud subscription-based services. Cloud ERP requires minimal or no hardware and also no services associated with the maintenance of these costly systems.”
ERP is no longer an IT or accounting decision, it’s a business decision that affects the entire organisation. All stakeholders need to be part of the decision-making process, especially if they want to improve revenue, reduce costs and mitigate risk.
To remain competitive, it is crucial to implement tools that integrate business systems and provide visibility across the full scope of the business. The right tools will ensure increased collaboration and enable smart, fast decision-making.
Cloud ERP software can save businesses a huge amount of money. However, Mullan says that business leaders need to ensure the new system is a good fit for all and very often these decisions are made at senior level, with end users not being consulted.
“There is no doubt that Cloud ERP is changing the way businesses operate,” he said.
“The only question that needs to be answered is when the right time is to move to the cloud. While there are many traditional businesses that still have reservations in converting to the cloud and security remains the biggest concern for them, those businesses that adopt the cloud will be streaks ahead of their competitors.”