Modern-finance-v08

From ERP 1.0 to ERP 2.0
Wall phones to smartphones
A remarkably rapid transition
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06
07
Overview
Your Complete Guide to Modern ERP
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Smartphones have been a part of modern life for over a decade. These ubiquitous 
devices are indispensable with integrated capabilities to take photos, send 
messages, check social media, follow maps, and occasionally place a call. 
Users quickly adopted this Swiss Army knife approach to portable communications. 
In 2007, the year smartphones arrived, it took 73 days for 1 million purchases. By 
2014, 1 million were sold every 8 hours. Coincidently, 2014 is the same year 
smartphones outsold desktop PCs and surpassed active landline phones.
Consider the similarities: in 2008, 88% of companies did on-premises rather than 
cloud ERP projects; in 2014 the numbers flipped.
Smartphone owners rarely leave their mobile companions behind. It is now hard to 
imagine a future where companies keep on-premises ERP.
The Rapid Transformation from
Wall Phones to Smartphones 
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Chapter 1:
Why Modern Finance is Key
to Your Business Success
The rate and pace of change involving factors such as innovation 
(particularly in technology), regulations, and competition (especially 
those with new and disruptive business models) exceeded the IT 
infrastructure, business processes and resources related to a 
company’s ability to respond. The gap was small at first, but over the 
last decade it dramatically increased. It is now the new normal.
This gap creates its own fundamental problem: it drives company 
leaders to rely on “gut feel” and instinct to make business decisions 
rather than using rapid, real-time access to accurate data. It is a 
terrible outcome as this practice delays decision making and 
introduces errors. The net result erodes operational and management 
confidence as delays and errors compound negative choices, 
negatively impact sales, and hurt employee morale.