Signs for an ERP ugrade for your project-based company

Ever heard of the business game-changer, Enterprise Resource Planning (ERP)? It’s like the system to manage all things company-related.  Back in 1990, Gartner coined the term to help traditional distribution and manufacturing setups. But, guess what? Today we’re diving into the challenges surrounding an ERP upgrade for project-centric companies.

The evolution of ERP to cater for project-driven companies

Back in the 80’s, a new type of service-based businesses emerged requiring advanced functionality not found in traditional product-based ERPs. Specific applications incorporating project accounting, revenue recognition, and project management functions appeared on the market. Nonetheless, project-based companies continued to use a bunch of stand-alone systems making it almost impossible to gain full control over the overall business.

Since the project life cycle is complex, these stand-alone systems grew into an unmanageable clutter of separate systems relying on the use of  spreadsheets to solve the functionalities that were not supported.

Fortunately for you, modern cloud-based ERP solutions cover it all: from quote to revenue recognition, providing real-time business insights.

Is it time for your company to level up with an ERP upgrade?

Now, take a look at your current ERP system. Is it giving projects the spotlight they deserve? If not, you might be missing out on crucial project insights.

What about decision making? When relying on manual processes, project managers usually have to wait for data to crawl in. Limited and outdated information spread across a multitude of different laptops and systems.

Things to consider before an ERP upgrade

  • Consider your strategy

  • Think about your current processes.

  • Identify gaps in your current strategy

  • Compare the current system with a potential future one. Do not attempt to recreate your old system into the new one by replicating old processes.

  • Evaluate the value of an upgrade.

The cost of sticking to an outdated legacy system

Every moment you resist the inevitable ERP upgrade, you might be accumulating a substancious bill. The expense goes beyond the money spent on maintaining outdated technology. It extends into missed opportunities, and inefficiencies. It comes with hidden costs. It’s not just about the cost of an upgrade; it’s an investment in staying relevant, and competitive.

On the other hand, a legacy system, with its outdated interfaces and limited functionalities, can act as a productivity anchor, slowing down your team and holding back innovation. Frustrated employees working with outdated tools may find their motivation fading away.

Built on Microsoft Business Central, Advanced Projects was crafted to cater to the intricate needs of project-based businesses such as project accounting, project management, project resource management, and project reporting.

Advanced Projects was built by professional service industry experts who understand the complex requirements of project-based companies. It supports remote work environments and is available 24/7 via the cloud.

How to avoid ERP project fatigue?

Too often ignored as part of an ERP implementation process, ERP project fatigue can jeopardise the quality and timeliness of deliverables. Several postponements of the go-live can harm the attention and motivation of the employees selected for implementing a new ERP.

To avoid ERP project fatigue, make it an opportunity to transform your business, not just a tool. Brand the ERP upgrade project with merchandising to make it fun and exciting. And most importantly, keep end users engaged and informed.

Combine traditional training with training videos for lighter users.

Interested in learning more? Check out our ERP guide for project-centric businesses. 👇

  • project accounting

What is project accounting?

Project accounting enables precise monitoring of the project strategy, expenses, implementation, and budgeting, facilitating efficient resource management, and ensuring accurate invoicing and accounting. All this integrated with finance, inventory [...]