If you have finally decided to incorporate Enterprise Resource Planning (ERP) into your business, this is for you.
We’ll assume you recognize how ERP stands to take your business to the next level, and the amount of value it portends to both your staff and larger stakeholders in terms of streamlining processes.
So, what remains is the question: “Which ERP Software is the best for my business?” Of course, the ERP systems market is flooded with solutions providers. For this reason, you have to really consider the ERP vendors before you can settle on the right one.
As you evaluate these vendors, these are some of the key areas to compare when choosing the best ERP for your business.
- Vendor Reputation
You may need to start from the individual vendors before you even delve into the nitty-gritty of the software component. You should conduct an incisive research about the software vendors to ensure they are experienced enough to respond to customer needs. Similarly, you may need to find out if the company is planning to launch an updated version of the ERP to ensure you are not stuck up with old software you do not need.
Take a particular interest in the vendor’s future endeavors. The least you want to do is purchase an ERP software from a company that abandons the business midway.
- What technology does it offer?
This is conceivably the most fundamental aspect to consider while choosing the right ERP system for you. You may want to know if the ERP software is customizable or turnkey. Here you may want to dwell a little more. If the vendor provides industry-specific ERP software, they may score a point for that, but still is the system scalable?
Equally important in the ERP vendor selection criteria is whether the software supports multi-company operations for businesses that may involve more than one company. In all these, the technology should make it easy for your staff to learn and use it. It should also be fast enough and efficient so as to provide value to its users.
- How much does it cost?
Investing in an ERP system requires much thought before you make the final move. Knowing you will have to get it right and you will incur additional expenses in case you change your mind only adds to the pain of arriving at the right ERP system.
However, with this ERP selection criteria checklist, you will do just fine to find the right solution for your business. Here, consider if the cost of the ERP is commensurate to the value it offers. Similarly, establish whether there are any additional costs or it is a one-off purchase. You may also want to consider the maintenance costs and that of software upgrades. From your analysis, you should determine whether the software provides Returns on Investment in the long run.
- Functionality, Ease of use and support services
Most people often recognize the challenges of the ERP software once they make the purchase. For you, this should come in mind even before you pay. The vendor should be in a position to demonstrate to you and members of your staff how the ERP software is used, provide training to your staff, and offer support services throughout the lifetime of the software.
ERP vendor selection criteria isn’t a walk in the park, but when you put all these factors into consideration, you are sure to get the right software that not only solves your problems but also is loved by your staff.