Here are the Five Signs You Must Check
August 09, 2024 | Blog
When do you know when it’s time to move on with the usual? In business, you will always know it when you hit the wall. Wall means stagnant growth, no process changes, and some traditional operational processes. Some leaders stick to what they do and perhaps help them to maintain what is and usually working. However, for some leaders, changes –process-wise or not— should always be welcome.
Invest or not to invest? Upgrade or not upgrade? Most companies significantly encounter these push-and-pull business decisions when they are growing or when software and systems can’t keep up and scale with the business operations.
Here are the Five Signs You Must Check
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Business is Growing
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Apt Solution
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Manual Tasks
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Cost-effective, Security, Compliance
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Right Solution Partner
When is The Best Time to Invest and Upgrade?
Time is important in business. It indicates when to invest and how to upgrade. But what are the signs that you need to venture into technologies and upgrade your business process? According to Finding the speed to innovate report of McKinsey & Company, “Few executives would argue that speed and innovation are critical success factors in today’s digital world. Being able to innovate quickly and cheaply, test digital products and services in the market, refine them, and release them on a regular basis has become a competitive advantage,” they said. Although technologies are rapidly changing, like come-and-go, you should choose tech that fits and is reliable for your business needs. This should be the rule of thumb and a priority when choosing one.
Business is Growing
One of the most exciting times when doing business is when it starts to grow. There are seasons where business growth is steady, controllable, and doesn’t need much change on its original processes. However, there will be a time —assuming business continuously growing—when your processes and software could no longer scale up to your business needs. At a small-medium enterprise level, jumping from one scale to another will force your business to adjust quickly. Let’s say you have a soap business. A modest amount of growth happens every year.
Also read: Do’s and Don’ts When Your Business Starts to Expand
The next year, it changed. You suddenly find your business turning from medium to enterprise level and ready to have your business take global and regional markets. Legacy technology couldn’t handle a sudden burst of orders, customer inquiries, and supply of demand for your business. Oracle NetSuite, for example, offers the #1 Cloud ERP that suits businesses that want visibility of their end-to-end processes, from accounting and business operations to customer management through CRM.
Apt Solution
When researching apt solutions and software for your business needs, it is important to understand that not all trending, overly-hyped, and latest technologies should take precedence over what your business actually needs. This is important because, regardless of how advanced your technology is, if it’s apt solutions, your tech assets become liabilities instead. Sure is, the return on investment is slow and possibly stagnant. “Not every new technology will be right for your organization: There may be fundamental differences in business models or hidden issues with implementation. This can make deciding what tech should be integrated into your business difficult to get right,” Forbes Technology Council said.
Also read: IT Group, Inc. Celebrates 21st Anniversary in the Tech Industry
The key to having an apt solution? Have a reliable and trusted IT Solution Partner. IT Group, Inc. (ITG) has been the leading IT Solution Partner in the Philippines and ASEAN region. ITG is a business tech expert that offers business consulting, service delivery, certification, and training, plus subscriptions and licenses to help you and your business get the apt solution for your digital transformation journey.
Manual Tasks
Manual and repetitive tasks can be time-consuming and less efficient, especially when your business grows and you have many products and services to fulfill; this is one of the signs of investing in solutions and software that can automate and integrate your processes. Aside from Oracle NetSuite, ITG partnered with some of the world’s most renowned tech partners. Workato, ITG’s partner, is known for rallying over automation and integration. Workato’s the best features of the so-called recipe—an automated workflow that connects your apps with no code needed. It helps lessen manual tasks like approval or connecting with other apps or software like Oracle NetSuite.
Also read: Fast Delivery: Domino’s Pizza Philippines Enhances Operations with IT Group, Inc. and Workato
Like the #1 Cloud ERP, NetSuite offers automation, especially regarding its accounting processes. As everyone moves to digital processes–even government—NetSuite and ITG help change your manual accounting to modern and computerized accounting. Meanwhile, suppose you’re more of a company concerned with managing and securing data daily. In that case, EBD will help you automate your manual data collection and ensure you assist in master data management- monitoring, tuning, disaster recovery, high availability, and replication needs.
Cost-effective, Security, Compliance
So, another best time to invest or upgrade for your next digital venture is when you have a great deal of money and resources to implement the change. Key leaders look after three things: cost, security, and compliance. These three pillars are essential to consider when you are about to invest and upgrade your system. One. Does your current system cost you more yearly with its subscription and licenses? Does it ever drag the opex and capex of your business? Is the software you have been using for years can no longer adhere to mandatory compliance in your region? It may give your organization a weary feel and make you question how strong the security of your old system is.
Also read: World Data Privacy Day and the Importance of Securing Your Data (Part I)
If yes, then a business meeting should be scheduled. Align with one goal: are we ready to invest and upgrade now? ITG has various solutions that match and fit your business needs regarding cost, security, and compliance. For IT management and cybersecurity, ManageEngine provides multiple IT services, such as Privileged Access Management, Identity Access Management, and Endpoint Security, to name a few. On the other hand, if you’re looking for IT infrastructure investment, Red Hat, the leading provider of enterprise open-source software solutions, can help your organization harvest and maximize the benefits of open-source technologies. Last but not least, Oracle Netsuite. For companies looking to invest in software that values compliance like tax, NetSuite is your go-to as it offers the #1 Cloud ERP solution.
Right Solution Partner
IT Group, Inc. has been the leading IT Solution Partner in the Philippines and ASEAN Region, with regional offices located in the Philippines, Indonesia, Malaysia, and Singapore, helping 200+ clients across the ASEAN region on their digital transformation journey and has a solid portfolio of 250+ successful projects. ITG is an ISO 9001:2015 Certified company, the leading technology partner for system-wide innovative solutions that deliver seamless integrations and processes, from Business Management Solutions, IT Management, Integration & Automation, and Enterprise Data Management to IT Infrastructure.
Also read: Business Mindset B2B and B2C Experience: Importance and Difference
For over 20 years, ITG has grown with its business partners, clients, and dear customers (new and existing). The power of having the right solution partner who can understand your business and goals is the most essential key sign to upgrade and invest properly. The key is to co-create and co-own an innovative approach and solution that is made out of venturing together. In this competitive market, ITG provides innovative solutions to help you achieve your business goals and excellent customer experience through digital transformation.
Let’s Venture Together today.
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