By: Steve Cox, Vice President, Oracle Accelerate for Midsize Companies
Signs of the resurging economy continue to sprout, with green shoots rising across different sectors and industries. With the economy on the rebound, businesses are increasing their investment in technology to keep up with growth and evolving demands; as proof, Gartner recently increased its worldwide IT spending forecast for 2012 to $3.6 trillion, anticipating a 3 percent increase from 2011 spending.
One of the segments most reliant on technology to catapult growth is midsize companies – established businesses leveraging every competitive efficiency and advantage to compete with much larger enterprises. We find that to compete against the big guys, they need to create an internal technology infrastructure to fuel that growth. Goodbye, spreadsheets and hello modern ERP.
While many businesses postponed upgrading or replacing financial and HR management systems during the recession, now some have started dusting off RFPs and revisiting technology options. Years ago, midsize organizations used spreadsheet-based systems and processes to manage employees, customers, partners, products and revenue. We’ve found that as companies scale up, they are apt to avoid heavily customizing their existing systems, and instead are more prone to standardize on a modern, enterprise-class ERP system.
Modern ERP platforms enable growing companies to immediately address the most pressing challenges – accounting, talent management, customer retention, et. al. Midsize companies implement these systems and processes to help them earn more, go public or expand globally.
And today, choice is a primary factor when selecting an ERP solution. Businesses have more deployment options now than ever before, depending on their unique structures and needs. Whether the preference is on demand, cloud, hosted or on premise, a modular, scalable deployment is available to meet the need.
With modern ERP systems, business that once struggled to do more with fewer resources have access to the same quality tools as larger competitors. By adopting top tier ERP systems tailored to individual business needs, midsize companies can support business operations while creating an enterprise system that seamlessly scales up to fuel future growth. Meaning that the ERP decision that your company makes today, will have legs to serve your business for years to come.