3 Things to Keep in Mind When Choosing an ERP Solution
If you want to upgrade your current ERP system, there are various factors to keep in mind and decisions to carry out. Among the challenges you will encounter is how to begin the whole process. You should know the primary selection criteria that you and your team should follow to find the right ERP system.
Keep the three tips below in mind when choosing an ERP solution.
What Are Your Goals and Objectives?
When looking for a new ERP solution, choosing one that will support your business goals is critical. Your company has unique business goals. For instance, one of your goals may be to grow the business in the short term. Make sure your business has the resources to support your goal for growth.
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Improving efficiency may be another goal you want. In this case, look for an ERP solution that can process redundant activities once to free your employees’ time. If you want to enter the market fast, look for a system that will ensure your products satisfy all market regulations.
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What Features Does the ERP Have?
In all companies, there are some general operations that have to be undertaken. Among the operations are marketing and accounting. However, when evaluating the different features available in a software, the operations of your industry should guide you in the selection process. To know which features will be ideal to have in an ERP system, consider both your current and future needs.
As you are evaluating the features, consider the daily functions that have to be done in your business. Review all the functions, including those that may be handled by other third party systems. At this stage, you want to have a granular overview of all the specific activities that have to be done in your business.
Technology and Scalability
A few decades ago, the technology that an ERP system used was not really an issue. During those days, most companies considered features but paid little attention to technology. However, given the way technology changes fast today, it cannot be ignored when choosing an ERP solution. When choosing a new ERP solution, there is much more to be considered than simply price. Examples of other non-monetary costs you will incur include lost time, training and disruption of your business.
Make sure the ERP solution you choose is built with modern technology. This is important as you want to get value for your money. You should consult all stakeholders in your organization to know what features will be critical to have in the ERP solution you would like to select.
When looking for a new ERP solution, keep the three factors above in mind.