Making the Migration to ERP a Priority
Although ERP systems have been around since the 1990s, the technology has evolved to such an extent that the “old” ERP systems are barely recognizable compared to their modern-day, “new” counterparts. We anticipate seeing more and more companies making it a priority in 2023 to upgrade to a more modern, cloud-based ERP environment in order to accelerate their digital transformation and remain competitive. Data migration is an essential and extremely beneficial phase of this upgrade process, involving extensive data cleansing, enrichment, optimization, and harmonization. By taking a targeted approach to migration and separating historical and operational data at the data layer, the new system can go live with a radically smaller volume of high-quality operational data. Word is getting out there that the volume of operational data that is actually needed in the new ERP landscape can even be reduced by 90% by deploying JiVS, the Information Management Platform from DMI. We are already noticing a considerable increase in demand for 2023 as companies are on the look-out for a solution that not only helps with application retirement but also takes care of the overall data migration aspect. The JiVS One-Click Transformation approach will enable them to run a new ERP system – SAP, JD Edwards, Oracle, Navision, or similar – that is lean and will continue to stay lean.
Continued Optimization of IT Costs
Throughout 2022, companies had to deal with one challenge after another triggered by geopolitical tensions and macroenvironmental pressures. Rising inflation rates, weak consumer confidence, spiraling energy costs, and supply chain disruption are just some of the factors that made businesses urgently look at where they could reduce their operating expenditure. We expect that this scenario will continue well into 2023 and beyond, with the optimization of IT costs sitting somewhere near the top of the list. By analyzing all aspects of IT – including infrastructure, software, system maintenance and upgrades, data storage, and more – unnecessary costs and wasteful spending can be eliminated. With effective IT cost optimization, savings can be rediverted and invested in areas such as automation technologies that will not only make your business operate more efficiently but also allow you to make further savings in the long term.
Increased Data Storage in the Cloud and a Smaller Data Footprint
One particular area of IT where companies can optimize costs while reducing their data footprint and environmental impact is data storage. The true cost of data storage is a topic that we touched upon in a previous blog and will be increasingly relevant throughout 2023 as more data moves to the cloud. A lot of businesses have hesitated in adopting cloud computing due to security concerns, but this fear is fast being dispelled by the many advanced cloud security tools and technologies that are available today to keep data secure. As a result, more companies are now realizing the benefits of managing data in the cloud: greater flexibility, better collaboration, faster time to market, cost savings, and so on.
The latter point brings us onto legacy systems – although they hold important company data, they are costly to run, generate a huge data footprint, and come with security risks. By shutting down their legacy systems and transferring data from on-premise legacy systems to a cloud-based Information Management Platform such as JiVS, companies can massively reduce their operating and data storage costs. The data is also massively compressed, so the data footprint is much smaller – which is great for the business and the environment. As data storage spend inevitably rises in line with data generation, showing that you have taken steps to minimize data storage costs and reduce the data footprint within your organization will earn you points with both your Finance and your ESG department.
Greater compliance With Data Governance and Regulations
Data governance and data regulations will be another major topic in 2023. Following in the footsteps of the EU GDPR and Canadian PIPEDA, other governments are likely to introduce data privacy laws to regulate the use and protection of data. Analysts at Gartner predicted that by 2023, 65% of the world’s population will have its personal data covered by modern privacy regulations. Besides the costs of non-compliance with data governance and regulations, the reputational risks can be catastrophic. Partnering with organizations whose solutions fully comply with the legislation in your country should therefore be a fundamental element of your data management strategy. Data privacy laws such as the EU GDPR do not differentiate between productive systems and legacy systems, which clearly highlights the need to make sure your historical data is kept safely under lock and key in secure, robust systems. In addition to storing data for the statutory retention periods and making sure it is available for auditing purposes, if a customer asks you to delete their personal data, you must be able to identify the precise location of all the individual data records at the touch of a button.
Your Data Matters to DMI
So what better way to begin a new year than with good news! As a key component of your data management strategy, JiVS Information Management Platform from DMI can help you with all your data migration needs, the move to the cloud, and shutting down legacy systems, all while optimizing your IT costs and reducing your data footprint – and fully satisfying the requirements of the EU GDPR. We know how much your data matters. Get in touch now and make JiVS part of your 2023 data management strategy.
Author: Tobias Eberle, Group Chief Revenue Officer