Growing your business requires taking advantage of new opportunities as they arise. If your current systems hold you back from pursuing deals, forming partnerships, and acquisition strategies, you need to consider implementing a modern, flexible enterprise system. Choosing one that integrates CRM, ERP, and PSM will allow your business to make the best decisions in support of long-term profitability and success.
Flexible Systems Help Both Acquisitions and Partnerships
According to a 2016 study, Impact of Enterprise Systems on Mergers and Acquisitions, if your company is planning to make an acquisition, internal coordination costs should be a primary decision factor.
There are two aspects of coordination costs:
- A one-time cost of integrating the acquisition
- A change in the recurring cost of operating the combined entity.
Having a flexible enterprise system that incorporates project management, CRM, and ERP reduces internal coordination costs, both at initial acquisition and during ongoing operations. In the initial stages, such flexibly integrated architecture allows your business to adopt the best-practice processes and workflows from both your company and the one you’re acquiring. You can implement the most effective processes and tailor the system meet your needs; this way, employees from both organizations can see the improvements resulting from the acquisition, which is important for maintaining high employee morale and focusing on profitability.
In fact, a recent study by Ernst & Young found that adopting enterprise systems to replace legacy systems and custom-built applications increased the level of standardization and reduced the cost and complexity of post-merger integrations.
Having a Single PSM-CRM-ERP Paves Your Way Forward
On their own, neither CRM, ERP, or PSM can position your business to take advantage of the array of opportunities that may come your way. Combined, however, they give the process the breadth, depth, and flexibility necessary to optimize partnerships and make acquisitions run smoothly.
The TimeLinx PSM system integrates with Sage and Infor CRM and ERP systems and provides pre-built integration capabilities to connect with virtually any other ERP system. Leveraging TimeLinx, you can close the loop on all your enterprise processes, positioning your company to optimize operations under any scenario.
To learn more about unifying your core business processes and systems and gaining process flexibility that targets business growth, contact us today.
