In Episode 48 of the CXO2 Minute, Wayne pleas for CFOs to “stop the madness” as he has seen that companies are paying for multiple ERP systems that all do the same thing.
This episode of the CXO2 Minute is sponsored by Community Summit North America, the largest independent gathering of the Microsoft Business Applications ecosystem taking place October 10-13 at the Gaylord Palms in Orlando, Florida. With 500+ Dynamics 365 & Power Platform sessions and over 300 speakers, this event is a must-attend for Microsoft customers. Go to summitna.com for more details.
Highlights
01:11 — After talking with people who have multiple ERP systems in relatively small companies, Wayne advises CFOs to tell the IT executive to “stop the madness.” Additionally, if you don’t put in the features, then you’re subjecting the system to an attack and you’re not getting the full benefits of the features you pay for.
02:51 — Upgrading the systems to modern versions from the existing vendors might just enable you to gain a tremendous amount of value. You can add features that you love and work on the various areas of the ERP system over time, focusing first on areas with the biggest risk reduction or opportunity enhancement.
03:23 — Some companies simply pick the wrong partner. You could be paying premium prices for a company that might not have the expertise for the size of your company. Consider re-evaluating your partners so you can do projects at scale.
04:09 — Companies can implement badly. You need someone on your team that understands your industry, company, and goals as well as has a pipeline to the top executives and understands strategy. Also, they need to keep the vendors, the software company, and the implementation partners honest.
04:46 — CFOs, why are you letting your IT costs run down the drain? Take advantage of your budget and find the right partners so you don’t pay for multiple ERP systems that do the same thing.
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