How to solve your industry’s biggest challenges
The game-changing power of ERP
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Introduction
Challenges & solutions
Research report
Case studies
What's next
Some of your industry’s biggest challenges can be solved with a modern ERP
In today’s fast-paced business environment, staying competitive requires more than just hard work — it demands smart, integrated systems that make your organization easy to do business with. That’s why enterprise resource planning (ERP) systems have become the backbone of successful organizations. By integrating core business processes and providing a single source of truth, ERP solutions empower organizations across industries to streamline operations, mitigate risk, enhance decision-making and drive growth. In this e-book, we explore how ERP solutions can address the top five challenges across key industries, demonstrating the versatility and power of these systems and why they’re a critical component of every organization’s technology ecosystem. Since this e-book is broken up by industry, take our quick quiz to navigate to yours:
Take our quick quiz to navigate to your industry
QUIZ
3. What are your organization's top challenges?
2. What is your role?
1. What is your industry?
Healthcare Construction or real estate Financial services Manufacturing, retail or distribution Nonprofit, government or education Technology Tribal gaming or government
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Healthcare
Construction and real estate
Manufacturing, Retail and distribution
Nonprofit and education
Financial services
Technology
Tribal gaming AND government
3. What is your industry?
1. What is your role?
Executive leadership Finance and accounting Human resources (HR) Operations Information technology (IT) Sales and marketing
Next >
2. What are your organization's top challenges you need to solve this year?
Scalability and growth limitations Inefficiencies and manual processes Lack of real-time visibility and reporting Integration with other business systems Security and compliance risks Slow to close books each period Multi-entity management and consolidation Budgeting and forecasting Supply chain management and order fulfillment Complex billing and reporting requirements
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How ERP solves this challenge
Cloud-based ERP solutions offer comprehensive financial management tools that seamlessly connect budgeting, forecasting and planning. This integration provides healthcare organizations with comprehensive dashboards that display real-time financial insights, enabling more accurate budgeting and resource allocation, informed decision-making and better patient experiences.
Fragmented financial planning
Many healthcare organizations struggle with disconnected financial planning and analysis processes. Their budgeting system is not configured to integrate with the accounting platform for easy access to enterprise data. This disjointed approach leads to inefficient resource allocation; challenges in making informed decisions on investments in technology, staffing and facilities; increased administrative costs; and reduced patient care quality.
ERP systems streamline human capital management by automating connections between payroll and financial systems. This automation allows healthcare organizations to easily estimate staffing needs per grant or allocation, improving overall workforce management.
Time-consuming talent management
Healthcare organizations need to understand and adjust staff allocations based on patient needs and budget considerations. When human capital reporting is separate from the enterprise financial management systems, this leads to manual data integration and a time-consuming struggle to estimate the number of hours needed per grant or staff allocation.
ERP integrates with healthcare supply chain management, automating processes and evaluating material costs within broader financial considerations. It often incorporates features like three-way match, barcode scanning and optical character recognition for more precise supply chain management. These tools help accurately track inventory, forecast needs and mitigate costs over time.
Risky supply chain management
Healthcare organizations need to manage a complex supply chain, track inventory and forecast costs over time, but they often lack reliable mechanisms to do so. This inefficient supply chain leads to financial risk, errors and more staff hours.
Modern ERP systems include robust grant management modules that integrate seamlessly with financial dashboards. This integration allows healthcare organizations to track grant allocations accurately, measure impact and position themselves better for future funding opportunities.
Inefficient grant management
Tracking grant allocation and impact is necessary to plan for future critical funding, especially when grants make up a significant portion of revenue. Challenges arise when current grant reporting does not allow the organization to rapidly and accurately track or seek out grants and funding.
ERP solutions offer APIs and integration tools to connect EHR data with financial records. This integration delivers easy visibility into the clinical, billing and financial data that helps healthcare organizations make decisions and run the business more effectively.
Disconnected EHR and financial systems
When the EHR is disconnected from financial platforms, it’s challenging to make financial decisions that improve patient care and meet the core mission. Healthcare organizations have a harder time calculating service line or provider profitability and utilization.
The healthcare industry faces a myriad of challenges across financial, operational and technological areas. ERP solutions and their ability to act as a single source of truth are transforming patient care, increasing operational efficiency, improving financial planning and more.
Healthcare’s top 5 challenges
Healthcare’s top five challenges
Cloud-based ERP solutions offer comprehensive financial management tools that seamlessly connect budgeting, forecasting and planning. This integration provides healthcare organizations with comprehensive dashboards that display real-time financial insights, enabling more accurate budgeting and resource allocation, informed decision making and better patient experiences.
Healthcare organizations need to manage a complex supply chain, track inventory, and forecast costs over time, but they often lack reliable mechanisms to do so. This inefficient supply chain leads to financial risk, errors and more staff hours.
Modern ERP systems include robust grant management modules that integrate seamlessly with financial dashboards. This integration allows healthcare organizations to track grant allocations accurately, measure impact, and position themselves better for future funding opportunities.
41%
of respondents said financial concerns/ reimbursements are a significant challenge
22%
have used technology to improve clinical workflows
35%
say their staff needs training on data analytics
Wipfli surveyed 75 leaders from rural healthcare organizations on their top concerns, staff needs, technology stack and more. Here are three key findings:
Key findings from our latest rural healthcare research report
of respondents said financial concerns/reimbursements are a significant challenge.
have used technology to improve clinical workflows.
say their staff needs training on data analytics.
Read the full report
of respondents said financial concerns/reimbursements are a significant challenge
St. Croix had a lean staff and a suite of technology that wasn’t designed for the healthcare industry. They needed to greatly increase efficiencies, tech integration and the ease and quality of reporting so their staff could focus on core duties. Here’s how they did it with Wipfli:
Case study: St. Croix Regional Medical Center
Read the full case study
Case study
St. Croix had a lean staff and a suite of technology that wasn’t designed for the healthcare industry. They needed to greatly increase efficiencies, integrate disparate systems and improve the timeliness and quality of reporting so their staff could focus on core duties. Here’s how they did it with Wipfli:
St. Croix Regional Medical Center
LEARN MORE
Whether you’re looking to solve organizational challenges and connect your tech ecosystem by implementing an ERP or you’re looking to upgrade or optimize your existing system to a modern, cloud-based solution, Wipfli can help. We understand the healthcare industry and what you need to succeed. That’s why we’ve put together additional resources (including an ERP buyer’s guide), information on different systems, case studies and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
What's next?
WHAT'S NEXT?
Whether you’re looking to solve operational challenges and connect your tech ecosystem by implementing an ERP, or you’re looking to upgrade or optimize your existing system to align with evolving technology like Industry 4.0, Wipfli can help. We understand the manufacturing and distribution industries and what you need to succeed. That’s why we’ve put together additional resources, information on different systems, case studies and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
ERP solutions offer real-time inventory tracking and use predictive analytics to optimize stock levels, which reduces carrying costs and waste, helps ensure product availability and increases cash flow. For manufacturers, ERP systems can track raw materials, work in progress and finished goods across multiple locations for smooth production flow. Distributors benefit from enhanced warehouse management features, including efficient picking and packing processes. Overall, by automating inventory-related tasks such as reorder point calculations and purchase order generation, ERPs save time and minimize human error.
Inefficient inventory management
Many manufacturers and distributors struggle with poor inventory visibility. Overstocking increases carrying costs and potential obsolescence of goods, while understocking causes production delays and missed sales opportunities, damaging customer relationships and market share. Inefficient processes lead to inaccurate forecasting, making it challenging to anticipate demand and optimize production schedules. This causes cash flow problems, supply chain delays, increased transportation costs and reduced overall productivity.
Modern ERP systems offer comprehensive supply chain management. These features provide real-time visibility into every stage of the supply chain, from raw material procurement to final product delivery, enabling manufacturers and distributors to anticipate and mitigate potential disruptions.
Supply chain disruptions
Without visibility into their entire supply chain, manufacturers and distributors are vulnerable to disruptions that cause production delays and increase costs. Manufacturers also face shortages of raw materials or components, forcing them to slow or halt production lines. This, in turn, causes distributors to struggle to meet customer demand, potentially losing market share to competitors.
ERPs provide sophisticated production planning tools that integrate sales forecasts, inventory levels and production capacity to create optimal production schedules, improving efficiency and lead times and reducing waste. ERP also automates routine tasks, minimizing human error and freeing up staff to focus on strategic initiatives. Its advanced analytics tools provide valuable insights for optimizing production processes, identifying bottlenecks and improving overall efficiency.
Production planning issues
Difficulties in balancing production schedules, resource allocation and demand forecasting can lead to increased operational costs and reduced efficiency. Manufacturers grappling with fluctuating raw material availability may face production delays, while distributors may struggle with inventory management due to unpredictable lead times. The increasing need for customization and shorter product life cycles adds another layer of complexity, forcing companies to constantly adapt their planning strategies.
ERP solutions include quality management modules that integrate with production processes. These tools detect patterns and trends, help enforce quality standards, track non-conformances and manage corrective actions to enable consistent product quality. ERP systems also streamline compliance with industry standards and regulations by automating documentation and enabling consistent adherence to quality protocols. This not only reduces the risk of costly recalls but also enhances customer satisfaction and brand reputation.
Quality control issues
Maintaining consistent product quality across production runs can be difficult. When products fail to meet established standards, manufacturers face increased production costs due to rework, waste and potential recalls. Distributors face inventory management challenges, customer dissatisfaction and potential legal liabilities. More rigorous inspection processes can slow down operations and increase overhead costs, but poor quality control can damage brand perception for manufacturers and distributors alike, eroding customer trust and loyalty and diminishing market share.
ERP systems streamline the order fulfillment process through automation. From order entry to picking, packing and shipping, these solutions reduce manual errors, speed up processing times and improve customer satisfaction through timely and accurate deliveries.
Inefficient order fulfillment
Manual order processing can lead to errors, delays, increased labor costs, inventory discrepancies, warehouse inefficiencies and delayed shipments. It also ties up working capital in excess inventory, reducing cash flow and limiting the ability to invest in growth opportunities. Strain on resources also leads to employee burnout and higher turnover rates.
Manufacturing, retail and distribution companies face significant challenges in supply chain resilience, with global disruptions highlighting the vulnerability of traditional supply networks. Other challenges are operational, slowing down efficiency and preventing growth.
Manufacturing, retail and distribution’s top 5 challenges
Manufacturing, retail and distribution
We surveyed over 330 manufacturers to determine their biggest challenges, their outlook on the economy and what they’re seeing success with. Here are five key findings:
Key findings from our latest manufacturing research report
of manufacturers use an ERP
59%
plan to invest in an ERP in the next 12 months
34%
said high costs and lack of expertise were key ERP barriers
50%+
are very or extremely concerned about supply chain issues
65%
faced supply chain disruptions in the last year
Podcast
Explore how to better manage and optimize your business processes and financial operations for real-time insights, improved decision-making and increased operational efficiency.
The Sound of Automation podcast: Harnessing outsourced accounting and the power of ERP
Whether you’re looking to solve operational challenges and connect your tech ecosystem by implementing an ERP, or you’re looking to upgrade or optimize your existing system to align with evolving technology like Industry 4.0, Wipfli can help. We understand the manufacturing, retail and distribution industries and what you need to succeed. That’s why we’ve put together additional resources, information on different systems, case studies and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
ERP systems offer robust cost management features. These tools provide real-time cost tracking, allowing project managers to identify and address potential overruns before they become significant issues. They also deliver more accurate estimates, bids and job costing. Overall, an ERP can help construction and real estate firms safeguard their financial health and maintain a competitive edge in the market.
Project cost overruns
Construction and real estate projects often face budget overruns due to manual cost tracking and management. When vital financial data isn’t available or is difficult to access, the business can go over budget and miss out on valuable opportunities. Overruns cause delays in project completion as firms scramble to secure additional funding or renegotiate contracts, potentially damaging client relationships and future business prospects.
ERP solutions tailored to the construction industry include sophisticated resource planning modules. These tools enable efficient allocation of labor, equipment and materials across multiple projects, maximizing resource utilization and productivity.
Inefficient job scheduling
Without a centralized system, allocating resources across multiple projects can be challenging. Inefficient job scheduling leads to work stoppages and quality issues, overtime, cost overruns and resource misallocation. It can also impact the firm’s ability to secure future contracts.
With an ERP, real estate firms can streamline workflows across all properties and entities, reduce the likelihood of errors and compliance issues, easily integrate new properties and gain real-time insights into financial performance so leaders can spot trends and opportunities.
Difficult multi-entity and property management
Real estate firms need to track and manage payables and financial reporting across portfolios so they can make informed decisions in real time and scale easily as they grow.
ERP solutions offer powerful financial management that includes cash flow forecasting, budget management and financial reporting features that provide a clear picture of the organization’s financial health. ERP enhances revenue forecasting and the ability to optimize margins. Plus, connectors are available that integrate ERPs with other systems, such as SAP Concur.
Inaccurate cash flow forecasting
Without accurate cash flow forecasting, firms can’t determine whether a project is financially viable or fully understand how to allocate resources, mitigate risk and make strategic decisions. When projections fail to align with reality, companies may find themselves ill-prepared for upcoming expenses or unable to capitalize on investment opportunities, leading to project delays.
Modern ERP systems are cloud-based and easily integrate with tenant experience tools, simplify and centralize document storage and pull in real-time financial data to create accurate and timely reporting across the entire enterprise.
Lack of a single source of truth
Real estate firms waste a lot of time and risk errors when they don’t have a single hub that manages tenant maintenance requests and communication; stores critical documents like contracts, permits and construction draws; and centralizes data to enable financial and investor reporting.
The construction and real estate industries often grapple with project complexities, resource allocation and financial management. With an ERP solution, these businesses can build a solid foundation for growth and profitability.
Construction and real estates’s top 5 challenges
Manufacturing and distribution companies face significant challenges in supply chain resilience, with global disruptions highlighting the vulnerability of traditional supply networks. Other challenges are operational, slowing down efficiency and preventing growth. Learn how ERP can solve manufacturing and distribution’s biggest challenges:
Manufacturing and distribution’s top five challenges
Many manufacturers and distributors struggle with poor inventory visibility. Overstocking increases carrying costs and potential obsolescence of goods, while understocking causes production delays and missed sales opportunities, damaging customer relationships and market share. Inefficient processes lead to inaccurate forecasting, making it challenging to anticipate demand and optimize production schedules. This causes cash flow problems, supply chain delays, increased transportation costs, and reduced overall productivity.
Production planning complexities
Difficulties in balancing production schedules, resource allocation and demand forecasting can lead to increased operational costs and reduced efficiency. Manufacturers grappling with fluctuating raw material availability may face production delays, while distributors may struggle with inventory management due to unpredictable lead times. The increasing need for customization and shorter product lifecycles adds another layer of complexity, forcing companies to constantly adapt their planning strategies.
MRD
We asked 198 real estate firm leaders what their technology ecosystem looks like. Outside of ERP, here’s what technology they use for themselves and their properties:
Key findings from our real estate outlook research report
Property management software
CRM or marketing automation
Investor management portal
AP automation software
Deal modeling software
Business intelligence dashboards
64%
55%
40%
38%
32%
31%
Cybersecurity monitoring platform
Gain instant insights into your financial performance, regulatory compliance and customer behavior with a modern, cloud-based ERP. Whether you’re looking to implement an ERP for the first time, or you’re looking to upgrade or optimize your existing system, Wipfli can help. We understand the financial services industry and what you need to succeed. That’s why we’ve put together additional resources, information on different systems and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
Whether you’re looking to solve organizational challenges and connect your tech ecosystem by implementing an ERP or you’re looking to upgrade or optimize your existing system to a modern, cloud-based solution, Wipfli can help. We understand the construction and real estate industries and what you need to succeed. That’s why we’ve put together additional resources, information on different systems and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
ERP systems provide a centralized platform for tracking, monitoring and reporting on regulatory obligations. They enhance data accuracy and transparency, facilitating easier audits and regulatory examinations. By streamlining compliance processes and offering comprehensive audit trails, ERP solutions not only mitigate compliance risks and reduce human error but also free up valuable resources, allowing firms to focus on core business activities while maintaining regulatory integrity.
Regulatory compliance complexities
As the regulatory landscape continues to evolve, firms face an intricate web of rules and requirements from multiple jurisdictions and oversight bodies. This complexity manifests in increased costs, as firms must invest in and maintain compliance technology, personnel and training to keep pace with changing regulations. The risk of noncompliance carries severe penalties.
ERP solutions provide a single, secure repository for sensitive information, reducing the risk of data breaches. These systems offer robust access controls and user authentication mechanisms so that only authorized personnel can view or modify critical data. ERP platforms often come equipped with built-in compliance features, helping firms adhere to GDPR, SOX and other regulatory requirements. Ultimately, ERPs empower firms to enhance their data security posture while streamlining operations and improving overall efficiency.
Data security concerns
The increasing frequency and sophistication of cyberattacks — along with stringent regulatory compliance requirements — have forced firms to significantly bolster their information security measures. Financial services firms are now allocating substantial resources to implement robust information security tools and processes, including employee training, encryption protocols, multifactor authentication systems and advanced threat detection technologies.
ERP solutions offer integrated CRM functionality, providing a 360-degree view of customer interactions across all departments. This integration enables firms to craft personalized communication, deliver efficient customer service and identify cross-selling opportunities.
Inefficient customer service
When customers encounter slow response times, inadequate problem resolution or a lack of personalized attention, their trust in the firm erodes, which can lead to decreased loyalty and increased churn. Firms that fail to prioritize efficient customer service risk losing market share to more customer-centric competitors.
ERPs provide a comprehensive view of an organization’s financial health, enabling real-time risk assessment and mitigation. These systems offer robust reporting and analytics capabilities, allowing firms to identify potential risks early and make data-driven decisions. Plus, connectors are available that integrate ERPs with other systems, such as SAP Concur.
Risk management difficulties
When firms struggle to effectively identify, assess and mitigate risks, they become vulnerable to financial losses and regulatory scrutiny. Inadequate risk management can result in unexpected market volatility impacts, credit defaults or operational failures, potentially eroding shareholder value and customer trust.
ERP solutions automate the financial reporting process, pulling data from across the organization to generate accurate, timely reports. This automation not only saves time but also reduces the risk of errors in critical financial statements. It also improves decision-making, giving firms an advantage in a fast-paced market.
Reporting inefficiencies
Often stemming from outdated systems or fragmented data processes, reporting inefficiencies can lead to increased operational costs as firms allocate more resources to manual data reconciliation and error correction. Inaccurate or delayed reporting also exposes firms to regulatory risks and hampers decision-making.
Technological disruption, evolving customer expectations and regulatory compliance remain a moving target for financial services firms — compelling financial services firms to transform digitally and take a good look at their tech stack and the benefits of ERP.
Financial services’s top 5 challenges
Construction and real estates’s top five challenges
ERP solutions tailored to the construction industry include sophisticated resource planning modules. These tools enable efficient allocation of labor, equipment, and materials across multiple projects, maximizing resource utilization and productivity.
With an ERP, real estate firms can streamline workflows across all properties and entities, reduce the likelihood of errors and compliance issues, easily integrate new properties, and gain real-time insights into financial performance so leaders can spot trends and opportunities.
Modern ERP systems are cloud-based and easily integrate with tenant experience tools, simplify and centralize document storage, and pull in real-time financial data to create accurate and timely reporting across the entire enterprise.
CRE
Wipfli surveyed 345 C-level executives of financial institutions across the U.S. to understand their growth strategies, priorities and concerns. Here are five key findings:
Key findings from our banking research report
said improving digital customer engagement is their most important strategy.
said digital customer engagement most closely defines digital transformation to them.
67%
said cybersecurity is their top concern.
48%
have seen three to five instances of unauthorized access to networks and data in the past 12 months.
37%
have invested in cyber tech in the past 12 months to help ensure the security of their networks and data.
60%
podcast
ERP is just one critical aspect of a financial services firm’s tech stack. In this podcast, we explore the rise of AI in the financial sector, with a focus on delivering seamless client interactions while maintaining data security.
Bank on Wipfli podcast: The digital customer experience, security concerns and AI
ERP solutions provide real-time financial reporting for better budget management, data-driven resource allocation to help maximize resource use, and even grant management and compliance reporting to help ensure every dollar goes toward supporting the organization’s mission. Plus, connectors are available that integrate ERPs with other systems, such as SAP Concur.
Limited resource management
Nonprofits and educational institutions often struggle with budget and resource constraints, which lead to staff burnout and attrition, inefficient operations, reduced services and programs, increased class sizes and diminished learning experiences.
With robust fund accounting capabilities, ERP solutions help manage multiple funding sources, provide transparent tracking of restricted funds and maintain compliance with accounting standards specific to nonprofit organizations and educational institutions.
Complex fund accounting
Nonprofits and educational institutions must track restricted funds and ensure compliance. This is often complex and overwhelming and leads to misallocation of resources, potential noncompliance with regulations, and difficulty making informed financial decisions and securing additional funding.
For nonprofits, an ERP personalizes donor engagement by tracking giving history and preferences; simplifies volunteer management through automated scheduling and skill matching; reduces repetitive, manual data entry; and enables better communication. For education, ERPs facilitate seamless student life-cycle management, provide real-time insights into student performance to allow for personalized support, and provide integrated portals and messaging.
Inefficient relationship management
Inefficient donor management leads to decreased engagement, retention and donations. Ineffective volunteer coordination leads to underutilization of valuable human resources, reducing the capacity to deliver services. Poor constituent management results in misaligned programs that fail to address community needs. And the struggle with student engagement leads to decreased satisfaction, lower retention rates and diminished educational outcomes.
ERP systems come with automated reporting tools but can also be customized even further to the nonprofit and education industries’ compliance and reporting needs. ERPs collect and visualize data from multiple sources into a single source of truth, streamlining the process of generating required reports for funders, government agencies and other stakeholders, and helping ensure timely and accurate compliance.
Complex compliance and reporting requirements
Both the nonprofit and education industries face unique — and increasingly complex — compliance and reporting obligations. Stringent regulations place a heavy burden on staff, often requiring days of manual work to put together reports. This leads to increased operational costs and burnout, as staff cannot focus on other critical duties.
ERP solutions offer advanced analytics and reporting tools to measure program effectiveness. These features enable nonprofits to track key performance indicators, analyze outcomes and demonstrate impact to stakeholders and funders. Plus, compliance reporting is much easier and faster.
Inability to measure program effectiveness
When nonprofits can’t accurately measure the impact of their programs and initiatives, they misallocate resources, erode donor confidence, impair their ability to attract further funding and miss opportunities to optimize and innovate operations.
Limited resource managment
The nonprofit and education industries face unique challenges in funding, talent retention and evolving constituent demands. They also struggle to keep pace with rapidly evolving digital tools and platforms to enhance their operations and demonstrate measurable impact.
Nonprofit and educations’s top 5 challenges
Financial service’s top five challenges
The increasing frequency and sophistication of cyberattacks — along with stringent regulatory compliance requirements — have forced firms to significantly bolster their information security measures. Financial services firms are now allocating substantial resources to implement robust information security tools and processes, including employee training, encryption protocols, multi-factor authentication systems and advanced threat detection technologies.
Financial service
When a nonprofit needed a new intake process fast, Wipfli answered the call, using ERP to build a digital workflow in less than three weeks so the agency could distribute $16 million in CARES Act funds and help more people. Here’s how:
Community Action Partnership of Kern
By adopting an ERP, nonprofits and educational institutions can enhance operational efficiency, improve the satisfaction of those they serve and ultimately amplify their social impact. Let us help you get there. Wipfli understands the nonprofit and education industries and what you need to succeed. That’s why we’ve put together additional resources, information on different systems, case studies and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
ERP systems provide project management tools to streamline development processes. These tools support agile methodologies, enabling tech companies to manage rapid product development cycles more effectively and bring innovations to market faster with less stress on development teams.
Rapid product development cycles
Tech companies need to bring products to market quickly, but rapid product development cycles can result in quality control issues, increased customer expectations for more frequent updates and improvements, and intensified competition as firms strive to be first to market — all of which put intense pressure on development teams.
Modern ERP systems offer sophisticated billing and revenue management capabilities. These features support complex pricing models — including subscriptions, usage-based billing and hybrid models — which helps ensure accurate and timely revenue recognition.
Complex billing models, revenue recognition and reporting
Subscription-based and usage-based billing models can be challenging for tech firms to implement and manage. They require sophisticated software solutions and dedicated teams to handle billing intricacies, including revenue recognition. For customers, complex billing can lead to confusion and frustration, potentially impacting satisfaction and loyalty.
ERP solutions provide comprehensive supply chain management tools. These features help manage global logistics, track international compliance requirements and optimize supply chain operations across multiple geographies.
Global supply chain management issues
Global supply chain management difficulties have exposed vulnerabilities in just-in-time inventory systems and led to shortages of critical components like semiconductors. The push for sustainability and ethical sourcing has added another layer of complexity.
By centralizing employee data and integrating with payroll and other HR systems, ERP systems enable HR teams to make better decisions, identify skill gaps and implement targeted retention strategies. Real-time analytics empower leaders to forecast talent needs, optimize resource allocation and adapt quickly to market changes. Ultimately, ERP systems are instrumental in helping technology firms attract, develop and retain top talent in an increasingly competitive landscape.
Talent shortage
Fierce competition for skilled professionals has led to prolonged vacancies in critical roles, slowing down project timelines and hampering technological advancements. High turnover rates lead to knowledge gaps and disrupt team dynamics, ultimately affecting product quality and customer satisfaction. This talent crunch drives up labor costs, which squeezes profit margins and limits investments in R&D.
ERP systems offer advanced analytics and business intelligence tools that enable more informed decision-making. These tools centralize data and provide real-time insights into all aspects of the business, enabling data-driven decision-making and fostering innovation.
Subpar reporting
Tech companies rely on data to guide their strategies but are challenged by data quality, interpretation and implementation. They often struggle with information overload, finding it difficult to extract meaningful insights from vast data sets. This can lead to delayed product launches, misaligned marketing efforts and inefficient resource allocation.
Complex billing models and reporting
In a fast-paced, competitive landscape, tech companies need to manage rapid growth, protect intellectual property and stay ahead of competitors. With an ERP system, they gain the agility and insight needed to innovate faster and scale more efficiently.
Technology’s top 5 challenges
Code42 needed to automate accounts payable and integrate their ERP with Concur to lower processing costs, increase compliance and make employees happier. Here’s how they did it with Wipfli:
Code42
By streamlining operations, enhancing data visibility and facilitating scalability, ERP systems empower technology firms to respond swiftly to market changes, optimize resource allocation and drive sustainable growth in an intensely competitive landscape. Whether you’re looking to implement an ERP for the first time or upgrade or optimize your current system, Wipfli can help. We understand the technology industry and what you need to succeed. That’s why we’ve put together additional resources, information on different systems and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
ERP solutions for tribal gaming and government include robust compliance management features. These tools help tribes navigate the complex regulatory landscape and ensure adherence to tribal, state and federal regulations while maintaining transparency.
Tribes face a multifaceted regulatory landscape, navigating federal, state and tribal laws that can sometimes conflict or overlap. Compliance with financial regulations, particularly in tribal gaming operations, requires substantial resources and expertise to meet stringent reporting and auditing requirements. These complexities can slow economic growth, increase operational costs and potentially deter investment in tribal enterprises.
Modern ERP systems offer sophisticated financial management capabilities. These features enable tribal governments and enterprises to effectively manage diverse revenue streams, providing a clear financial picture across all activities. This enhances decision-making and further economic opportunity that betters the lives of tribal members. Plus, connectors are available that integrate ERPs with other systems, such as SAP Concur.
Ineffective revenue management
Managing diverse revenue streams from gaming and other tribal enterprises can be complex. Ineffective management can lead to financial instability and budget shortfalls that force tribes to cut back on critical programs and rely more on federal assistance. It can also hinder economic growth opportunities, as tribes may lack the resources to invest in new businesses or attract outside investment.
Automating AP and procurement can significantly reduce manual errors and processing time and ensure more efficient financial management. The revenue audit and budget processes become seamless with ERP integration and provide greater accuracy and compliance. ERP also delivers real-time reporting capabilities, empowering leaders with instant access to crucial data. This comprehensive approach enhances operational efficiency, provides a competitive edge and improves resource allocation and transparency.
Lack of real-time reporting and automation
The inability to access and analyze data in real-time hampers the ability to respond swiftly to changing market conditions, regulatory requirements and community needs. The absence of automated AP, procurement, budget and revenue audit processes can hinder operational efficiency and financial oversight. A lack of automation not only strains resources but also impedes strategic decision-making and can compromise compliance efforts.
By integrating departments and functions into a single, cohesive system, ERP systems empower tribal leaders to make data-driven decisions. They enable real-time tracking of resources that help community members receive the support they need, when they need it most. Wait times for critical services are slashed, and quality of care improves. By fostering transparency and accountability, these systems build trust between tribal governments and their constituents, creating a stronger, more united community.
Community service delivery obstacles
Many tribal communities face obstacles in accessing essential services like healthcare, education and transportation infrastructure, which directly affect economic growth and quality of life. Plus, limited broadband access impedes the ability of tribal businesses to compete in an increasingly digital economy.
ERP solutions offer project management, real-time data analysis, improved inventory management and enhanced financial controls that support tribal economic development initiatives. These features enable tribes to plan, execute and monitor development projects, fostering economic growth. They also facilitate compliance with complex regulatory requirements, reducing legal risks and administrative burdens. Tribes equipped with an ERP are better positioned to attract investments, create jobs and foster sustainable economic development.
Economic development challenges
When it comes to economic development, many tribal communities face limited access to capital, inadequate infrastructure and geographic isolation that impede the growth and sustainability of tribal enterprises. This leads to reduced revenue streams, fewer job opportunities and increased likelihood of younger generations migrating out of the community.
Regulatory compliance complexitites
As challenges around economic diversification, tribal sovereignty, cultural heritage preservation, climate change and more converge, tribal leaders must develop innovative strategies to ensure sustainable growth and cultural resilience in the years ahead.
Tribal gaming and government’s top 5 challenges
Tribal gaming and goverment
Cliff Castle Casino and Hotel needed a modern ERP to system to eliminate manual processes and paper-intensive recordkeeping. Outdated technology and processes were delaying audits and slowing down decision-making. Here’s how they did it with Wipfli:
Cliff Castle Casino and Hotel
ERP adoption represents a strategic investment in the future of tribal nations, fostering economic growth and preserving cultural heritage through efficient, transparent governance. Whether you’re looking to implement an ERP for the first time or upgrade or optimize your current system, Wipfli can help. We understand tribal government and gaming and what you need to succeed. That’s why we’ve put together additional resources, information on different systems, case studies and more to guide you. You can also schedule a discovery session with us to walk through your specific needs.
