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If you’re relying on an outdated platform, you’re not only sacrificing efficiency but also your organization’s ability to compete in a truly digital world. Basically, it will cost you more in the long run to stay where you are.

Here are five signs that it’s time to replace your ERP:

1. It can’t deliver real-time data

When your competitive advantage relies on speed-to-market or strategic decisions, every minute counts. Time is money. You don’t want to spend it digging through data.

Modern ERPs give your users access to the reports they need at the click of a button. Cloud and mobility features allow those in the field (e.g., sales, remote employees, technicians, etc.) to stay connected while the ERP continues collecting data. Ultimately, leaders can use real-time data to make faster business decisions.

2. It lacks critical features

Is everyone in your organization comfortable using your ERP system? Have they created workarounds to do things that your ERP software should be able to handle?

ERP products today are equipped with intuitive interfaces. They deliver customizable reporting tools accessible from anywhere, making them easy to learn and use, and they include modern features critical to doing business today. Reputable ERP providers also provide training and support as part of their ERP implementation. They can help you gain employee buy-in and adoption.

3. It relies on multiple platforms

ERP systems are designed to create efficiencies. When individuals and departments use multiple systems or add-on tools that aren’t integrated into your ERP system, it’s a recipe for disaster.

Modern ERP systems unite different departments with a single technology solution. No more silos. But if you do need to use outside systems, newer ERP technologies can integrate seamlessly with many existing platforms.

4. It doesn’t automate everything you need it to

It’s amazing how many organizations still rely on manual business processes. Sales may send orders through interoffice mail. Finance may run manual month-end reconciliation reports. And approvals likely get stuck sitting on someone’s desk.

ERP technology is intended to automate labor-intensive processes and keep workflows running smoothly. When your ERP fails to achieve these most basic functions, it’s time to look at an upgraded system.

5. It requires more and more support

As legacy systems age, they require more support from the vendor. Eventually, their computing power simply can’t keep up with the mountains of data generated in today’s business climate. This leads to slower performance, increased downtime and cyberattack vulnerability. This is a big sign you need to replace your ERP.