October 12, 2023 HR Analytics, Implementation Support

How enterprise resource planning and managed services can drive operational efficiency

Improving operational efficiency is a necessity in today’s business climate. As we approach 2024, it might be helpful to consider two critical tools that have emerged as transformative solutions for businesses: enterprise resource planning (ERP) and managed services. 

Below, learn how ERP and managed services can reshape your business in the coming year by optimizing efficiency and facilitating business continuity.

ERP benefits

In navigating the gauntlet of shifting customer expectations, changing worker trends and intensified competition, companies must think ahead and remain nimble to succeed. 2024 will bring both expected and unexpected challenges, but ERP systems are increasingly embraced as powerful, efficiency-driving tools that can address several key challenges.

ERP is a software system that helps efficiently manage core business processes in an integrated system. These systems have long been recognized as essential to modern business operations, offering several benefits, including:

  • Serving as a unified hub for business data
  • Ensuring consistency and accuracy across departments by eliminating data silos
  • Delivering analytics for better decision making and strategic planning
  • Providing automation of routine tasks
  • Reducing human errors
  • Freeing up employees to focus on higher-value activities

With smart, strategic implementation, a cloud-based ERP system can offer real-time visibility across departments into business processes that can be invaluable for forecasting, demand planning, project management, accounting and risk management, as well as supply chain and inventory management. This new perspective drastically improves decision making and efficiency in key functions across your organization. 

Selecting the right ERP system for your organization

Many factors can influence selecting the right ERP system for your organization, including which human capital management (HCM) system you use, business goals, needs for scalability and customization, user experience and ERP platform innovation. With high stakes around maximizing value to the organization, the importance of choosing the right tools cannot be overlooked.

Our team has deep experience with middle market companies in diverse industries. We work to understand your people, processes and existing technology to support selection and optimal implementation of the most appropriate ERP software for your business. This approach aligns ERP with your specific organizational needs and goals, ensuring that your technology investments remain relevant over the long term.

Exploring the selection process might make sense for organizations wondering which ERP platform will best support their business goals and integrate with current systems, including HCM software. 

Contact our digital transformation team today to get started with gaining efficiencies and insights with the right cloud-based ERP capabilities for your business.

Cost-effective managed services

With recent marketplace shifts and worker trends hindering staffing reliability, it’s no wonder the concept of outsourcing key functions has become more attractive. Certain processes and functions need to remain firmly reliable, evolving and scaling as a company grows to achieve business continuity. Outsourcing information technology (IT), finance and accounting, payroll, human resource information system (HRIS) administration, human resources (HR) or other functions to experienced, reliable, secure and compliant teams has many benefits. Working with a managed service provider not only allows your organization to offload tasks to experienced professionals but also enables you to form a valuable strategic partnership that helps you manage risks, reduce costs, stay modernized and streamline processes—driving faster, more cost-effective growth over the long term.

As an example, cybersecurity is one of the fastest-growing trends in IT outsourcing and managed security services at middle market companies, driven by the increased complexity and variety of, and reliance on, IT systems. A constantly evolving and increasingly sophisticated threat landscape has led to a shortage of IT and security professionals, which creates more security gaps and greater risk for companies. However, managing IT infrastructure and systems can be complex and resource-intensive. Managed services offers an effective solution by providing several key advantages, including:

  • Providing predictable IT expenditures 
  • Heightening system stability and reliability
  • Minimizing regulatory and compliance risks
  • Strengthening continuity and system recovery

One of the main benefits of outsourcing IT management through managed services is the ability to reduce operational costs significantly. You can leverage state-of-the-art technology without taking on a substantial upfront investment. 

Additionally, managed services providers monitor your IT infrastructure continuously, identifying and resolving issues proactively to minimize downtime and enhance productivity. While cybersecurity threats are ever-evolving and pose a significant risk to businesses, managed services providers implement advanced security measures to safeguard your data and systems, giving you invaluable peace of mind. 

For more information regarding managed services, look at our guide to the advantages of outsourcing

Strategic importance of ERP and managed services

Enterprise resource planning (ERP) and managed services are not just tools but strategic assets that can redefine your approach to business operations. This was the case when we helped Demitri’s Gourmet Mixes optimize NetSuite’s ERP capabilities. When Demitri’s approached RSM, it needed some assistance with its existing NetSuite enterprise resource planning (ERP) implementation. In addition, the company was planning for a migration from Magento to SuiteCommerce Advanced for its ongoing e-commerce needs. RSM jumped in and assisted Demitri’s with all of its NetSuite requirements, including some ERP optimization initiatives as well as building a comprehensive, new, fully responsive e-commerce webstore.

We can advise you on leveraging ERP’s insights and managed services’ efficiency so that your business can gain a substantial operational advantage. While competitors grapple with data management challenges and information technology (IT) issues, you can make data-driven decisions and adapt swiftly to changing market conditions.

Reach out to RSM to transform your business with ERP and managed services

ERP and managed services offer transformative solutions that streamline operations, enhance efficiency and provide a competitive edge. These strategic assets empower businesses to adapt, grow and succeed in the digital age. 

Our experienced consultants are ready to help examine your organizational requirements and set you up for success. Talk to a Wise consultant today about how ERP and managed services can change the game for your organization. Call +1 800 654 4550 or email us at HCMhelp@wiseconsulting.com to get in touch with a member of our team.

This document contains general information, may be based on authorities that are subject to change, and is not a substitute for professional advice or services. This document does not constitute audit, tax, consulting, business, financial, investment, legal or other professional advice, and you should consult a qualified professional advisor before taking any action based on the information herein. Wise Consulting Associates, LLC, its affiliates and related entities are not responsible for any loss resulting from or relating to reliance on this document by any person. Internal Revenue Service rules require us to inform you that this communication may be deemed a solicitation to provide tax services. This communication is being sent to individuals who have subscribed to receive it or who we believe would have an interest in the topics discussed.

Wise Consulting Associates, LLC, is a wholly-owned independent operating subsidiary of RSM US LLP. Wise provides system and operations expertise in human capital management, workforce management and payroll management technology and compliance.

©2023 Wise Consulting Associates, LLC. All rights reserved.

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