For small and medium-sized enterprises (SMEs), it can be costly and inefficient to purchase a bespoke enterprise resource planning (ERP) system. Particularly when it comes to finance and accounting functions, SMEs are better served by working with a qualified external provider.
Implementing a new ERP system requires a significant financial commitment which may only deliver ROI for large, disparate organizations. Beyond the initial software purchase, companies must also budget for annual maintenance and support as well as annual upgrades. While large companies recoup this investment through efficiencies at scale, the ROI can be less impactful for smaller firms.