As a whole, the world consists of big and small companies. The big companies ate the small ones more or less every seven years, only to split them out again in the next wave. However, in the current economy, this pattern seems to have become outdated. Instead, today there are fast and slow companies. The fast companies win, while the slow companies can’t keep up.
Many companies struggle with their information provision. And often this can be retraced to the IT architecture. Who uses many partial solutions will have to work hard and take a lot of time to get a complete picture of how the company is doing. But by the time this is done, in fact all you have is a glance into the past.
Amongst stock-quoted funds, for example, great differences can be observed with regard to the presentation of the annual results. Where one company has them ready within weeks, other companies take months. Sometimes this even results in signalling a lower prospective profit even after the financial year has already been closed! These are surprises to which the stock market is allergic. A dive in share price is the consequence. While investing in better provision of information often only costs a fraction of such a decrease in worth!
In your own company, it is interesting to observe how long it takes to get a monthly report. For companies with a well-organised integral system, this should take little effort. For companies with a high amount of isolated partial solutions, however, it will take a lot of time and energy. But what does the available information really mean if it means that on the 25th of May you see the ‘current’ status of your company at the 30th of April? You are doing nothing more than looking in the rear-view mirror. And who drives a car guided only by the rear-view mirror, soon ends up at the side of the road. Who manages his company in the same way will end up in a similar manner. Moreover, you will notice possible opportunities too late.
To which category does your company belong? If you are part of the ‘slow’ it is time to change your outlook. Because before you know it, you will be trampled by the faster competition. And only a system such as Dynamics NAV (for example…) could change that
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If you need an insight to how other companies have “kept up” by using Dynamics NAV under our guidance – click here