People sometimes look at an expense and an investment as one in the same, but they can be very different, and a company’s philosophy towards each says a lot about its ability to manage business ups and downs over the long run.
Triple Helix participated today in a panel discussion hosted by the CT Center for Advanced Technology (East Hartford, CT). The panel was titled “The Intersection of Manufacturing & Technology”. Its focus was to highlight areas of opportunity for CT manufacturers to leverage technologies such as social media, data analytics, mobile and cloud computing for growth and competitive advantage, while mitigating the risk.
A company's ERP system typically represents years of development and investment. Its original focus was efficiently processing transactions and handling data entry, which many of the older packages still do adequately. Where they aren't especially strong is in important ancillary areas like data extraction, data analysis, generating useful reports, and user interfaces that match well with a company's unique workflows.