Perhaps most important of all, the midmarket needs software that's quick and cheap to implement compared to big on-premise ERP systems. Mid-size organizations need software that makes good use of AI to drive automation and natural language digital assistants to help users through their working day. Just because they're middle-sized doesn't mean our heroes of economic recovery should have to manage without the advanced features large enterprises enjoy. To be easily accessible to home workers, solutions also need to be cloud based and mobile friendly. It should be possible for in-house superusers to set up and change the software themselves, working from templates and menus. They should be tailored to the company's particular sector - with pre-configured industry standard modules ready to go out of the box - but easy to customize as well.Ĭustomization shouldn't have to be done by outside consultants writing code - that's too expensive and takes too long. Mid-size organizations need systems that are not so big as to be unwieldy, but capable of scaling up as they grow. Right in terms of size, customization, deployment, features and, critically, time and cost to implement. Like Goldilocks' taste in porridge, mid-size businesses need solutions that are "just right" for them. Right-size technology could make all the difference Not a recipe for agility and rapid growth. Vendors and systems integrators can customize these systems for you, but this typically takes 18 months and leaves you dependent on their services if you want to change anything in future. Traditional ERP systems were originally designed for manufacturing industry, so if you happen to be in a service or technology sector, their default design and configuration probably won't suit your operation. These systems are usually installed on premise rather than in the cloud, so they're not easy to access from home and they don't work well on mobile devices. The implementation process can cost nearly four times as much. If you choose to invest in a traditional ERP system you could easily end up spending five figures for a single license. Software selection specialist, SelectHub, advises that traditional enterprise software is expensive to buy, slow to install and complex to use: They're either making do with basic tools they've outgrown, or they're being persuaded by vendors to use systems designed for much larger enterprises. Many mid-size firms are not using the kind of business technology that would help them grow quickly. In most cases, the answer is unfortunately, no. So, have our mid-size saviors got access to the growth-enabling technologies they need? Wrong-size technology is holding them back The European Union's SME Strategy, for example, helps medium-sized companies address things like sustainability, digitalization and improved access to finance.īut, as McKinsey has noted, what mid-size enterprises really need to fulfil their growth potential and power our economic recovery is "the ability to access foreign markets, increase operational efficiency and adopt growth-enabling technologies". According to the World Trade Organization, small and medium-sized enterprises (SMEs) make up the bulk of the economy, representing over 90% of the business population, 60-70% of employment and 55% of GDP in developed economies.įor a start, there's plenty of help around for mid-size enterprises in the form of government incentives, tax breaks, loans, business advice and coaching schemes. COVID-19 has hit all sectors of the economy, but there's good reason to think that mid-size enterprises will be the key to recovery.
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