Struggling with inaccurate inventory numbers, reporting/tracking?
Having a hard time with month-end close?
Working with a legacy system that’s slowing you and your team down?
Sounds like you need a new Enterprise Resource Planning System (ERP).
But going through the vendor selection process can seem like a monumental challenge. It’s hard to know what questions to ask, who should have a say in the platform you pick, what features you might need to implement, and even who you should get to install the software.
Luckily, we have a few tips for evaluating an enterprise resource planning system that can help guide your decision and ensure a successful implementation. Read on to learn why ERP selection is critical and how to make an informed choice for your business.
Think of your ERP as the Nervous System of your company. How the nervous system transmits signals between the brain and the rest of the body is similar to how your ERP system can allow you to operate your company in real time through your entire organization.
If your ERP is not being utilized efficiently or to its maximum potential, it can greatly affect how your company does business. A lagging ERP can disrupt supply chain operations, distribution, inventory, or even how data or reports are being used across the company. Eventually, these issues pile up and begin to negatively impact the customer experience, as well as the bottom line and efficiency of your organization. And at some point, you’ll start losing revenue.
But a great ERP makes everything run smoothly, centralizing your data, and updating it in real time.
With a sound ERP, your operations team can better understand to optimize their workflows and ensure that your data and company are fully integrated to their max potential. Your finance team will have access to reports that can uncover revenue-generation or cost-reduction opportunities, in addition to the real-time costs of goods and to the minute forecasting. Having a fully integrated ERP will also ensure that your IT team can be utilized to fully support the organization and users in a more efficient way.
Basically, the more integrated and automated an ERP is to your company, the more efficiently you can operate across the board.
To reap all the benefits of an ERP, you must make your decision based on which ERP is the right fit for your day-to-day operations. Here are a few of the most critical things to consider during the procurement process:
Staffing firms like Planet Technology can help companies source and recruit the right talent — not only to implement ERPs like Epicor, IFS, Infor, JD Edwards, NetSuite, and Workday, but also to train ERP users, run effective change management, and offer long-term support and upgrade help.
Write down these requirements on paper and score each platform immediately after your demos. This exercise will help you narrow down your list, and soon, one or two leaders will start to emerge. Companies also give free demos where you can ask specifics about each ERP and how it would be best utilized within your organization.
If you still can’t decide, consider reaching out to similar companies that have previously installed the ERP you’re looking at. Colleague reviews are always a good way to decipher how it would benefit your company specifically.
Choosing an ERP system is no light decision, but waiting to update or change your ERP could be even more costly financially, and for your business. If you are in the process of deciding to update, upgrade or implement a new ERP system, the price of waiting could be even more costly than a new implementation.
If you would like more information on a specific ERP, or find yourself in need of niche talent to implement an ERP or provide support to your existing environment, reach out to us at Planet Technology. We have experience placing Contract and Permanent professionals who’ve drastically transformed our clients’ ERP environments.
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