Choosing the right ERP system from the zillions available in the market can be confusing. Here are four aspects that you should consider to find the perfect match of ERP system for your organisation.
1. Determine: You understand your business better than anyone. An ERP solution should be able to address the organization’s needs across all parts of the business like marketing, finance and HR- whether it is reaching out to the target audience, big data and analytics and end-to-end employee intranet for employee communication. The same should help you integration of multiple software for easier business intelligence.
2. Evaluate: While many companies choose a solution based on brand name it is always advisable to choose a solution on the basis of your organization’s needs and technical capabilities. Also, evaluate the cost of changing to a new ERP software from the previous method in place. While selecting the ERP, the technology requirement must be looked at in a 60/30/10 format – 60% of what is needed today, 30% for near future and 10% for long-term. While investing in the right ERP software can reduce the future costs of human error, it is essential to evaluate the total costs. Beware of the hidden costs.
3. Develop: It is important to develop a realistic implementation plan to include all the activities from installing the software to ensuring that it is functional, tested and accepted by the users.
4. Measure: Adopting a new ERP software is a way to reduce costs, increase revenue, or scale for growth and hence you should estimate and measure benefits against these metrics to realize the potential benefits. It should also be relevant to the latest trends in technology as well as the organization’s short-term and long-term strategy.