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During past economic slowdowns, many companies cut too much from their IT budgets. In an attempt to save money and maintain their status in the market, they did not plan ahead to safeguard their ability to grow profitably. While the current economic downturn highlights a need for SMMs to reduce costs, many are also pursuing growth. These companies are responding to market pressures such as customer demand, regulatory compliance, global competition, and rising costs by targeting IT solutions like industry-specific ERP, which can deliver significant benefits and set the stage for future growth. Given that ERP implementation involves a significant investment in time and resources, it may be tempting to place ERP projects on hold until the economy improves.
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