How to choose the right ERP Software for your company
Though business owners have realized the benefits of implementing ERP system for their organization, it is important to realize the wrong choice on ERP system can actually waste a lot of time and resources. As choosing the right ERP can improve your business performance and accelerate your growth, a wrong choice has the potential to slow you down.
What to consider while choosing an ERP Software:
There are multiple types of software solutions to choose from when it comes to the ERP solution. But you need to analyze and study which one is best for your business not only as per current needs and requirements but also considering future scalability. A perfect fit will enhance the profits and productivity while the other software may result in errors and failures of the business. As it is rightly said, "Nothing worth having comes easy", similarly there will be challenges of ERP implementation. Below are some tips that can help you to decide wisely.
All of the work that goes into development is not adding value until the software is in the hands of the customer. - Mary Poppendieck
Steps to choose the right ERP Software for your company
Prioritize your requirements: challenges to solve shortcomings of your current system (if any), Review your list, and prioritize the list.
List down the vendors: Identify and list down vendors who provide solutions in your industry within your budget
Discuss your needs: Share your prioritized feature, selection process, timeline, expectations from vendors.
Take software demonstrations: Prepare brief demo scripts, demo each software system, and gather feedback.
Study ERP software features: Check ERP software functionality, software capabilities, efficiency.
Compare price quotes: Detailed price quote, Compare all quotes, Ensure quotes are complete, choose the right price.
Verify the References: Ask for two references, talk to them, verify working style and timely delivery of solutions by the vendor.
Make the right choice: Choose the right software after all the factors and use it to full extend to derive value you envisioned at start.
A company may employ the most sophisticated software in the world, but unless information is managed, timely, accurate, and complete, the system serves little purpose. - Wayne L. Staley.
Implementing an ERP software is not an easy task but a step by step procedure involving time, high costs and a longer value attached with it. A wrong decision can lead to loss of time and money and can also leads to negative results of the business. So it is very important to analyze all the possible factors carefully and then make a right decision. Appropriate time spent on choosing the perfect fit for your company and following the correct ERP implementation steps will save the time being spent on maintenance or rectifying the errors in future.
MD, Finbyz Tech Pvt Ltd