Top 10 Reasons to Upgrade Your ERP (and Top 6 Reasons to Be Concerned If You Don't)

WHY UPGRADE TO AI-POWERED ERP:

Upgrading from a legacy on-premises ERP solution to a modern, AI-driven ERP like Dynamics 365 offers numerous benefits, especially when considering the power of Microsoft Copilot. Here are the top 10 reasons to consider this upgrade:

1. Cost Efficiency: Reduce the cost of maintaining hardware and infrastructure. By moving to the cloud, you can save on utility costs, maintenance, and major software and hardware updates. Additionally, leveraging Generative AI and Microsoft Copilot can optimize resource allocation and reduce operational expenses.

2. Scalability and Flexibility: Modern ERPs like Dynamics 365 offer scalable solutions that can grow with your business. You can easily add or remove components as your needs evolve. Generative AI can help predict future needs and optimize scalability, while Microsoft Copilot can assist in managing these changes seamlessly.

3. Real-Time Data and Analytics: Gain access to real-time data and advanced analytics, enabling better decision-making and improved efficiency. Generative AI can analyze vast amounts of data to provide insights and trends, while Microsoft Copilot can assist in interpreting these analytics for actionable strategies.

4. Enhanced Security and Compliance: Benefit from robust security features and compliance support, ensuring your data is protected and regulatory requirements are met. Generative AI can identify potential security threats and vulnerabilities, while Microsoft Copilot can help ensure compliance with industry standards.

5. Integration and Collaboration: Seamlessly integrate with other applications and systems, enhancing collaboration across departments and ensuring a smooth data flow. Microsoft Copilot can facilitate integration processes and improve collaboration by providing intelligent suggestions and automating routine tasks.

6. Agility and Innovation: Support continuous business model innovation and adapt to changing market conditions quickly. Modern ERPs enable businesses to respond to new opportunities and challenges.

7. Improved User Experience: Enjoy intuitive interfaces and user-friendly features, making it easier for employees to use the system effectively. Generative AI can personalize user experiences based on individual preferences.

8. Lower IT Costs and Maintenance: Leverage cloud technology to reduce the need for extensive on-premises infrastructure, leading to lower IT costs and easier maintenance. Generative AI can optimize IT resource management, while Microsoft Copilot can assist in maintaining and troubleshooting systems.

9. Business Continuity and Disaster Recovery: Ensure business continuity with built-in disaster recovery and high availability features. Generative AI can predict potential disruptions and suggest preventive measures, while Microsoft Copilot can assist in executing disaster recovery plans.

10. Competitive Advantage: Stay ahead of the competition by leveraging the latest technologies, such as AI, automation, and analytics, to optimize your finance and supply chain processes. Generative AI can provide insights into market trends and competitor strategies, while Microsoft Copilot can help implement these insights to gain a competitive edge.

To be successful, it's important to lean on a partner who has deep experience with Microsoft Dynamics. By upgrading to Dynamics 365, a CFO can drive growth, improve efficiency, and ensure the company remains competitive in a rapidly changing environment. Ps Hummingbird can show you how.

WHAT IF THEY ARE ON AN UNSUPPORTED LEGACY ERP:

Here are the top six reasons why a company should be concerned about continuing to use an unsupported legacy ERP system and consider upgrading to Dynamics 365:

1. Security Vulnerabilities: Unsupported ERP systems are highly susceptible to security breaches. Without regular updates and patches, these systems can become easy targets for cyberattacks, putting sensitive company and customer data at risk.

2. Compliance Issues: Legacy systems often fail to meet current regulatory requirements. This can lead to non-compliance with industry standards and legal regulations, resulting in potential fines and legal complications.

3. Operational Inefficiencies: Unsupported ERPs can lead to significant operational inefficiencies. These systems may lack the ability to integrate with modern applications, resulting in data silos and manual processes that slow down business operations.

4. High Maintenance Costs: Maintaining an outdated ERP system can be costly. Companies may need to invest in expensive customizations and integrations to keep the system running, and finding skilled personnel to support these systems can be challenging.

5. Business Continuity Risks: Unsupported ERP systems are prone to failures and downtime. This can disrupt business operations, leading to lost productivity and revenue. Additionally, the lack of disaster recovery and high availability features can jeopardize business continuity.

6. Lack of Innovation and Native AI Capabilities: Legacy ERP systems often lack the latest technological advancements, including AI and automation. This limits the company's ability to innovate and leverage data-driven insights for strategic decision-making.

By upgrading to Dynamics 365, companies can mitigate these risks and benefit from enhanced security, compliance, operational efficiency, business continuity, and innovation. Ps Hummingbird can show you how.