The more sophisticated technologies become, the more tempting it is to attach “intelligent” in front of everything. From products and services, employees and customers, and supply chains and finance, every aspect of business operations is directly tied to data.
Having lots of data, however, doesn’t define intelligence. Intelligence is more than brainpower, IQ, and ingrained knowledge. Intelligence, especially as it relates to business software, means the ability to adapt to change with:
- Understanding: Insight into what is changing and how
- Responsiveness: Flexibility and speed to adapt
- Connectedness: Awareness of and the ability to impact other processes and systems
Intelligent ERP presents outsized opportunities for midsize firms. But as a growing number of our midsize businesses are discovering, legacy ERP solutions lack the data model, real-time speed, and integration to support these capabilities. Instead, growing companies are adopting modern ERP systems that can help them take on emerging opportunities for growth before their competitors – large and small – do. Here are two stories that illustrate how midsize companies have benefitted from intelligent ERP.
Pacha Group: Expanding worldwide with an agile, responsive foundation
Known for its epic nightlife experience, Pacha Group is transforming itself from a family-run business with limited systems. Fifty years after the first resort opened in Ibiza, Spain, its workforce of over 220 employees serves the needs of a passionate global community comprising the rich and famous as well as the adventurous traveler.
The secret to its success? Harmonized data, real-time insight, and operational agility enabled by a centralized ERP suite that includes a range of customer experience solutions.
In a matter of months, Pacha Group revolutionized how it operates – down to the core. The lifestyle brand is, for example, making more precise, faster decisions that are significantly shrinking manual workloads, sustaining international expansion, and evolving products and services at the same pace that customer preferences change.
Ryan Specialty Group: Setting up for growth as a connected, fast-growing ecosystem
Not unlike many growing companies, Ryan Specialty Group (RSG) is fueling rapid growth with a series of acquisitions and brand-new formations. But it is equally critical to the international specialty insurance organization that its operations remain efficient and transparent for its 1,700 employees as well as clients, investors, and lenders.
To unify data and streamline processes across finance, procurement, and HR, RSG deployed a next-generation ERP suite in the cloud. Acquiring such a nimble and integrated foundational technology allows the insurer to turn around data as quickly as possible. From financial reporting to employee support, the burden of manual efforts, disparate processes and systems, and high administrative overhead has been replaced by a single source of truth, automation, and 24×7 mobile and self-service access to workflows.
ERP reinvented: Redefining “intelligent” to energize growth
Along with the steady evolution of technology, growing companies such as Pacha Group and RSG are embracing a significant shift in how they derive insights, run business processes, and make decisions. Now, the entire business is becoming intelligent – from decisions and tasks to the end-to-end customer experience.
Learn more about the importance of a modern ERP solution for your business. Read the IDC Analyst Connection brief, “Small and Midsize Businesses Put ERP at the Center of Digital Transformation Strategies,” featuring IDC’s Ray Boggs, vice president of Small and Midsize Business Research, and Mickey North Rizza, vice president of ERP and Digital Commerce Research.