Manufacturers are constantly searching for ways to activate growth while remaining cost-efficient. This has led to piecemealed applications across the organization.

What results from this process is limited visibility and a lack of integrated capabilities, which restricts manufacturers from being optimally efficient and agile.

Manufacturers must target solutions that enable integration, visibility, and flexibility. Implementing a digital-first approach and aligning business systems can elevate manufacturers and kickstart growth.

Common Signs Your Business is Ready for Change

A study by IBM found that only 28% of manufacturers use data from equipment, processes, and systems to improve operations. In a rapidly changing environment, manufacturers need an agile and flexible operational management system to move forward.

Here are common signs your business is ready to make that change.

• Cost concerns
• Data security concerns
• Lack of resources
• Manual process delays

How to Drive Significant Growth

Adopting a new business management system isn’t always a straightforward process.

Here are some of the most effective best practices for manufacturers looking to unify operations:

• Take time to recognize your business needs — By understanding your business needs, you can save time and money by investing in the right solution.
• Consider a suite of products — Adopting an integrated product suite can make the transition to the cloud more manageable and efficient.
• Adopt customized solutions — Choosing a customized solution allows your business needs to be directly met.
• Leverage a partner — The right partner will help your business migrate data and perform checks and balances on the new system before going live.

Remember to Consider More Than Just the Technology

According to the PLEX 2022 State of Manufacturing, 75% of organizations think technology is highly helpful in addressing workforce challenges. And while technology can solve critical business needs, if implemented in a silo, even the best technology won’t be able to help your operation grow.

When implementing new technology, it’s imperative to look at the full business ecosystem. An understanding of people, processes, and technologies will help you chart the best path forward. Starting with business outcomes and having a plan for change management before moving forward is critical to a successful digital journey.

Technology may solve individual business challenges, but without an overarching strategy that centers on business goals, it will fail to meet your true business needs.

Modern Manufacturers Rely on Modern Business Management Solutions

As manufacturers make strategic business decisions in the current market environment, it’s important to have the right information. From the rising cost of raw materials to supply chain constraints, you can’t afford to have inaccurate data or be held back by dated technology solutions. A robust, agile business management system can reduce costs, meet customer demand, and drive future growth.

Secure your business and get ahead of change with manufacturing consulting services designed to conquer your unique challenges. Eide Bailly’s trusted advisors can help you make the right investments for greater security and growth.

If you’re ready for a strategy that keeps you one step ahead, we can help.

Eide Bailly is a nationally recognized certified public accounting and business advisory firm committed to helping clients grow, thrive, and embrace opportunities for innovation. With over 3,300 dedicated staff members, including CPAs and business advisors, the firm helps clients gain a new perspective of what’s possible and make that vision a reality through inspired ideas and solutions.