Before we begin telling you about the 5 key factors to consider during ERP selection, let’s first get our basics clear. So, what is an ERP? It is a software tool that consists of technologies and systems that are used by various companies to manage and integrate their core business processes.
The fact is that we all use it and it has now become the heart of all businesses to achieve their company goals. This is why selecting the right ERP solution for a business is one of the most important decisions a company is expected to make today.
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To make it easy for you, we’re jotting down some very important ERP system selection criteria that you should consider during your selection process.
1. Your Business Requirements
Your business must first develop a clear and comprehensive list of your requirements for an ERP system. Make sure that you use every resource that is available to make this list and that you talk to your production workers and your purchasing managers before coming to any conclusions. What is important is that you have to listen to your executive management, your customers and your suppliers.
Once all your thoughts are is written, prioritize the entire list. Reach to a firm consensus about all your “must have” requirements. Don’t forget to review and revise this list 2 to 3 times before jumping onto a decision.
2. Successful ERP Implementation
The second most important thing for businesses selecting ERPs is that they must assure that their ERP supplier has a lot of knowledge and experience and also has the capability to adhere to project management best practices from the outset, with all controls and governance activities strictly managed to ensure that all objectives and expectations are met on time and correctly! You can ask to see testimonials from other customers within your industry to ensure that your potential ERP supplier delivers on what they promise.
3. Post-Implementation Support, Education and Training
To maximize the benefits of your ERP investment, it’s imperative to provide your teams with adequate support and training. That’s something a lot of companies forget! With over three generations working for a company, it is important to note that every generation has a varied degree of technological comfort and rates of learning. This is why this becomes one of the most important considerations.
4. Long-Term Continuity
The fact is that a strong track record of success speaks for itself. Apart from the reasonable expectation of robust industry-proven software and great customer service, you can safely assume that a well-established ERP provider is here for the long haul, and has a vested interest in your current and future success.
5. Your Budget and Resources
The amount of money that you can spill out of your pocket always needs to be controlled with a set budget. And because ERP systems are a long-term consideration and will be used for a decade or longer, it is important for you to consider the ongoing maintenance and support cost along with the infrastructure cost.
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