Keeping focus – meaningful and sustainable investing.
Source: Äri-IT Sügis 2024
Author: Erko Tamuri, Board Member of BCS Itera
How can investments help companies remain competitive and achieve sustainable growth, even when focused on tax issues?
In the current turbulent environment, where the public space is filled with calls for a “tax festival” and all the steam in the daily work of entrepreneurs and politicians has gone to the discussion of possible taxes, the focus has mainly been lost – how to remain competitive in both domestic and foreign markets.
For 16 seasons in a row, we have focused in our Business IT magazine on the most important thing, namely how to meaningfully and sustainably invest in business software solutions that help organizations and entrepreneurs stay competitive and manage business sustainably.
Having actively advised companies on the implementation of ERP solutions for the last 25 years, and having done so relying on the experience of one of the world’s best ERP solutions (Business Central, according to Forbes Advisor), we can also provide readers with some starting points for 2025.
ERP Trends in 2025
The dominance of cloud-based ERP solutions: More and more organizations are moving to cloud-based ERP solutions to ensure scalability, flexibility, and cost-effectiveness. At the same time, hybrid ERP models are also being implemented, which include the integration of on-premises and cloud solutions.
AI and automation: Artificial intelligence (AI) and machine learning (ML) are becoming an integral part of ERP systems, enabling predictive analytics, process automation, and faster decision-making.
Industry-specific solutions: There is a growing demand for ERP systems tailored to specific industries (so-called vertical solutions), which offer special functions and ready-made know-how, taking into account the specifics of a particular industry.
These trends reflect the movement towards smarter, more flexible, and user-friendly ERP systems that support businesses in a rapidly changing environment.
Managing Investments in ERP Systems
Aligning with strategic goals: It is essential to ensure that investing in ERP systems is in line with the company’s long-term strategic goals. The clearer it is what you want to achieve with the ERP system (e.g., increasing efficiency, scalability, smart workplaces, improved reporting), the more purposeful the implementation of the change in the company.
Evaluating current processes: It is necessary to analyze the current business processes, identify inefficiencies and areas where the ERP system could create value. It is also important to involve different departments to understand their specific needs and challenges. This ensures that the ERP system meets the requirements of the entire organization.
Creating a realistic budget, including total cost of ownership (TCO) calculation: In addition to the initial purchase or subscription costs, ongoing costs must also be considered, such as continuous customizations and optimizations, as well as training, version upgrades, and the introduction of new business functions.
Key benefits of investing in ERP systems
Improved efficiency and productivity: ERP systems automate and streamline business processes across departments, reducing manual tasks and errors. This leads to faster operations and more efficient use of company resources.
Real-time access to data: ERP systems provide real-time data and analytics, allowing decision-makers and members of the entire organization to quickly access accurate information. This supports more informed and meaningful business decisions.
Increased competitive advantage: Better access to data and the availability of data quality create an opportunity for the company to react faster to market changes, customer demands, and new business opportunities. This makes the company more agile and competitive both in Estonia and in foreign markets.
In order for you to successfully invest in ERP, HRM, CRM, and BI systems in the coming years, we wish you courage and good luck!