5 Key Considerations When Choosing an ERP
You’re on the hunt for an Enterprise Resource Planning (ERP) solution because you have outgrown your current software. A new ERP will help boost sales, enhance customer service, increase productivity and reduce inefficiencies while streamlining your processes. With so many ERP systems on the market, how can you determine which solution is best for your unique needs?
Here are 5 things to consider when choosing your ERP:
1. Functionality – Does the software functionality align with your business needs and vision for today and tomorrow? Is the provider able to integrate the ERP with your current systems and processes? What kind of support and training can you expect during the implementation and integration process? What on-going support and training is available? An excellent ERP vendor will clearly define the scope of work required, allowing you to determine if they are the right solution for your business.
2. Analytics and Reporting Tools – Staying ahead of the competition starts with the ability to identify and measure your key performance indicators (KPIs). Your ERP software should offer reporting and analytics that clearly identify key inventory, sales, purchasing, and financial issues. Imagine the ability to track and analyze profit and loss while improving your processes at the same time.
3. Mobility – In today’s tech-driven workplace, mobility is key – and this capability should be a given when it comes to any ERP solution. Your ERP should come equipped with a mobile-friendly dashboard that allows employees to access relevant information and data when and wherever they need it. In addition to minimizing errors, mobile solutions will boost operational productivity and efficiency.
4. Proven Track Record – Check the ERP provider’s references with at least three other organizations. Learning about their experiences, reading their testimonials and determining their satisfaction level will assist you in the decision-making process. Important factors to consider from the references are software functionality, implementation and integration, customer provided support and vendor responsiveness.
5. Quality vs Cost – Most importantly, the decision to invest in an ERP is a decision to invest in the future of your business. Choosing a vendor based on upfront affordability often results in higher costs and disappointment in the long run. Lower cost is often paired with poor client support or service, complex upgrades, lack of functionality, etc. A provider’s services may appear less expensive; however, they may not deliver the functionality, longevity or flexibility your business will require as it grows and develops.
With so many ERP systems available, it’s difficult to know where to begin. If you keep the above in mind when considering ERP solutions for your business, you’re sure to find the right partner and relationship for your unique needs.