Top 6 Strategies for Choosing the Best ERP for Your Organization
DISCLAIMER: This blog is highly intended for the general audience having basic/beginner level knowledge of ERP
As globalization and liberalization are squeezing markets and 4.0 industries with competition and convergence of advanced technology, hordes of organizations are opting for ERP solutions to keep their competitive boats sailing in the deep ocean. Enterprise Resource Planning, often abbreviated as ERP, is a cross-functional software that acts as the most robust, comprehensive, and significant data management solution tool for all businesses to keep their competitive edge elevated. It acts as a key element for centralizing and integrating the database of daily insight, analytics, thereby monitoring, reporting, tracking the procedure, productivity, and profits. It meticulously and accurately monitors every activity that is happening in the enterprise by efficaciously minimizing cost, the unidentified errors, unwanted flow of resources, unnoticed activities that may further lead to the threat or risk for the organizations. ERP acts as a proficient solution tool for all enterprises who are craving growth and success with minimum struggle, expenditure, and attention to high-priority tasks.
ERP acts as a prominent solution tool for all companies because of its automated and integrated system nature. Since every organization craves and visions booming growth and development, the mainstream market is flooded with buckets of ERP software that will help you to streamline your business on the best track. However, most of the clients are fall prey to a few widely publicized products by the vendors that may garner failures, unproductivity with tedious customization and configuration, obsolete innovation, and what not!
Choosing the correct ERP is highly challenging in today’s date due to the increasing availability of highly advanced technology services in the pool with high merits but high cost too! Hence, choosing the best fitting ERP for your organization is no lesser than differentiating the sound of bell and whistle. ERP has different modules such as finance, procurement, human resource, work force management, marketing automation, manufacturing, project management and many more.
Manufacturing sector, where ERP solution tool is not introduced newly, sometimes fails to choose the correct ERP. Hence, the right decision and extensive field study about your enterprise is extremely crucial.
This sector is highly required to focus on functionalities like supplier/vendor listing, analyzing vendor, supplier & item linking, recording & sending quotation request to vendors, preparing and tracking purchase orders, updating stocks & multiple piles of reports. In conjunction with SCM (Supply Chain Management) and CRM (Customer Relationship Management), ERP manufacturing tools heighten an organization’s ability to manage and automate major inventory planning and forecasting decisions. Thus, evaluating, selecting, and implementing a new ERP solution is a long-term strategic decision for the growth of your organization and hence, it must be chosen wisely.
Following things must be noted well before choosing the correct and most ideal ERP software for your organization:
⦁ Organization wide Buy-in: The most important procedure before choosing the ERP for your organization is an open discussion with the representatives of different departments. Many organizations tend to keep the details undercover which eventually leads to unsatisfied ERP solution tool purchase. One representative from each department must put forth its departments’ requirements and then eventually pick the suitable ERP tool.
⦁ Review and Analyzation: The next business initiative for any organization that visions growth is more productivity with a minimum usage of resources. Hence, one must first define and document your current business processes by keeping a note of the strengths and enterprise goals. The analysis helps to understand how a potential software solution will align with your current infrastructure alongside leading to strongly satisfy corresponding business requirements.
⦁ Align a budget and pick the desired module: Since the ERP tools come with a suite, you must pick the modules according to the current requirement of an organization to reduce the cost. The modules are integrated when deploy them irrespective of initial installation or several months later. However, organizations having multiple visions and requirements must certainly choose the ERP that will satisfy their present as well as future needs.
⦁ Truthfulness of the Vendor: In the pool where numerous vendors are publicizing their products, the buyer must proceed with the purchase only after verifying the reviews and reputation of the vendor. Ask your potential vendors to demonstrate the functionality and the ability to scale up and a few implementations where their systems have been used in order to get a better idea of your decision.
⦁ Flexibility, easy customization, and configuration details: the ERP system you buy must be a highly flexible, easily customizable, and configurable toolkit. Successful customizations require extensive knowledge both of the ERP system, as well as the business, need to understand how to best customize a solution or configure a system’s many available features to develop optimal solutions for the subsequent and diverse need of the business.
⦁ Compare the specifications of ERPs and plan its implementation: Comparing the different ERP systems available in the market helps to know what you are missing. It’s important to develop a comprehensive project plan that includes entire range of the activities required to install the software, and most importantly, ensure that the solution is fully functional, tested and accepted by end-users. This will give a virtual yet practical experience of the ERP system without buying it.
THE TAKEAWAY: Evaluating and analyzing and discussion plays a pivotal role in choosing the best ERP for your enterprise. Adhering to the mentioned procedures and choosing the correct ERP system will certainly give the optimum performance therefore developing the most efficient, automated, user-friendly and profitable ERP solution that will garner the subsequent growth for your organization.