If your business is beginning to expand, or you have developed a strategy to grow your business globally in the future, you’ll soon need a new ERP system that is flexible, agile, and efficient.
From data analysis, reporting, tracking and automation, ERP’s will provide your organization with the data needed to grow successfully.
In this article, we explore how your choice of ERP system can support your globalization aspirations.
Globalization is the process in which businesses start to develop international influence or start operating on an international scale.
Due to globalization, a company that was once a successful national firm, might go on to become a multi-national business with subsidiaries in countries across the globe.
When discussing globalization, it’s important to understand the difference between a global company vs a multi-national company.
A global company considers the world as one, singular market. They’ll offer the same products in different countries; this is known as a standardization strategy. The assumption is that one product can meet the needs of people across the world.
A multi-national company adopts an adaptation strategy, which focuses on adaptation of their products in different countries based on local needs, taste, and culture. An adaptation strategy works particularly well for companies that export their products, as it ensures that the product will meet cultural and regulatory requirements in different countries.
Of course, the type of strategy your organization needs depends entirely on the type of product or service you offer.
Once you know whether your business model uses a standardization or adaptation strategy, you’ll know exactly what features you’ll need from your ERP system.
Implementing a global ERP system is a great method to encourage improved digital collaboration, from anywhere in the world. For businesses aspiring to become global, implementing a new ERP is worth the investment. Here’s why.
ERP implementation is a must for most small-to-medium sized businesses, but it is absolutely essential for organizations looking to develop global influence.
Interested in learning more about how your ERP can support your globalization aspirations? Looking for an ERP partner to take your business to the next level? Contact our expert team today - we’re always happy to help.