Enterprise resource planning (ERP) software automates the processes of the business into a single more easily managed system. With so many cloud-based applications now on the market, selecting the right one for your business is no simple task.
Five steps for choosing the right ERP system for your business.
#1 Define your business vision
Establishing the specific needs of your business accurately is essential to determine the requirements of your new ERP system. Define a clear list of all functions, efficiencies, reports, and technologies that need to be incorporated in your new system. These requirements form the starting point for your business growth plan.
#2 Understand the total cost of ownership
Don’t let a sales rep downplay the costs and risks associated with purchasing their software. It’s a lot easier to accept the potential cost early in the process, rather than after the solution has been committed to. Be sure to uncover hidden costs associated with ERP systems, including implementation costs, hardware upgrades, backfilling your project team resources and software maintenance fees.
#3 Objective and independent advice
With so many product review sites, content creators, and online articles, be sure to take advantage of the global community in order to seek out independent reviews of an ERP.
#4 Select an agile ERP system
Your new ERP system should adapt to new technologies and sectors like Industry 4.0. It’s via important that your ERP system is compatible with today and tomorrow’s technology. Seek out software that has a history of rapidly evolving with business technology standards, and that is backed by a strong enough investment and a solid ecosystem of supporting software applications.
#5 Calculate the ROI
If you don’t measure it, you’re not likely to achieve it. ERP projects are no different. Chances are your organisation is looking at ERP as a way to reduce costs, increase revenue, or scale for growth. And you should estimate and measure benefits against these metrics if you’re going to realise the full potential of an ERP. At Liberate I.T., we leverage our experience of over 130 Oracle NetSuite implementations across Australia and New Zealand, to help businesses expand with increased visibility and scalability. For a free assessment of your current business systems, get in contact with our team today.