You’ve probably outgrown your basic accounting software and you’re now looking for a large-scale business solution that can help you handle your day-to-day tasks. However, choosing which technology you should invest in can be a little tricky. While we all want to achieve growth, innovation and success, we also don’t want to put our business at risk. Selecting an enterprise resource planning (ERP) software, for instance, is one of the most critical decisions you will ever make for your company. The upfront cost of deploying an ERP system can be expensive, not to mention, require an ample amount of time and resources to be fully optimised. As such, understanding how to choose the best ERP for your business is a must.
Understanding ERP
In the simplest form, ERP helps organisations to manage day-to-day operations by automating routine tasks from accounting, payroll, invoicing, inventory to business compliance. ERP software allows businesses to optimise their operations, giving employees more time to focus on high-impact sales activities.
Why do you need to choose the best ERP for your business? Every business regardless of size and industry has various functions and processes such as customer service, financial management and human resources. With different departments responsible for different processes, finding a solution to keep them working together in a single integrated platform is necessary. Fortunately, ERP software can make that happen. It provides organisations with a centralised location where information can be stored and can be accessed by all departments.
Choosing the Best ERP for Your Business
If you’re currently wondering how to choose the right ERP software for your business, you’re in the right place. Here are 5 essential tips you might need to consider to find the best ERP for your business.
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Evaluate your company’s needs
Before looking at options, you need to evaluate the needs of your business first. You can start by defining the scope of your project. Identify specific business processes and company requirements. From this list, you can then begin to look for an industry-specific ERP system that can offer tools made specifically to address your company’s needs.
Fortunately, you can now choose from a lot of software options available in the market today. Each ERP software is designed with unique features, providing specific purposes for every organisation. Creating a list of requirements can help you choose the best ERP software suitable for your business.
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Integrations with existing software
When looking for ERP software for your business, one important thing you need to consider is how well it will work along with your company’s existing software. Make sure to choose ERP software that can efficiently send, process and receive data to and from other software. After all, data integration is one of the most common reasons why organisations are looking for new and more effective business management solutions.
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Consider your budget
Deploying ERP software comes with associated costs. In most cases, these include the cost for the system itself, the cost of implementation and other additional costs required.
When weighing options, make sure to consider cost vs. value. Keep in mind that a hefty price tag doesn’t always guarantee excellent value. In most cases, expensive ERP software comes with numerous features, making it look like a sound investment. However, there are likely functionalities you won’t be able to use. Thus, making it a less valuable investment for your business.
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Accessibility on mobile devices
Have you thought about implementing BYOD policy in your company? Well, you might soon. With millennials and new-age employees becoming more and more demanding of their workplace flexibility, implementing BYOD policy can be an excellent solution to address this concern. Mobile ERP software can be of great help in this matter. With mobile ERP, employees can easily and safely access data straight from their mobile devices
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Choose the right ERP vendor
When looking for the right ERP software for your business, you also have to check the ERP company’s reputation. Does the company have a strong reputation in its field? Do they have industry knowledge and experience to help your business? The answers to these questions can make a huge impact on your decision.
Another aspect to look at when choosing an ERP software vendor is their website, specifically their online reviews. There’s no better way to learn more about a service provider than finding out what other clients have to say about them.