ERP stands for Enterprise Resource Planning and it’s the process whereby an enterprise manages and integrates vital business aspects. If you would like to manage data and integrate an assortment of essential business functions, including HR, inventory, sales, planning, purchasing, and finance, an ERP system can do that for you. With an ERP system, you will be able to streamline processes, track and share data, and boost profitability. Following is a list of practical tips that will make it easy for you to select an ERP system that delivers premium ROI.
Define Your Company’s Goals
Before you start shopping around for an ERP system, you should consider the best ways for your company to meet its business targets. In other words, you should have a sense of how it’s going to get your company where it needs to go.
Analyze the short-term goals of your company, then give some thought to long-term goals. One example of a short-term goal is reducing downtime and a long-term goal might be large-scale expansion. Chances are good that your company’s goals are already mapped out. If they aren’t, they should be, and well ahead of the actual ERP system purchase.
In any case, you should have a list of all your company’s goals so you can find an ERP system that will help your company to achieve them all.
Think About System Integration
When looking for an ERP system, smooth and seamless integration should be one of your key goals. An ERP system should be able to integrate with the software systems that you’re already using, like existing CRM software and other office-essential software.
Now, if the software that you’re already running at your company cannot integrate with an ERP, you should think about retiring that software. Without integration, the process of getting an ERP up and running will be more laborious than it should be.
When integration is possible, that enables data sharing over a host of applications. Also, the ERP system will ensure that business processes are automated into one stream that’s simple to manage.
Consider the Training Process
ERP systems are also user-friendly and intuitive, but training is important when it comes to getting optimal value from the system. You’ll need to get up to speed on a new ERP system and so will your team. Make sure that you have a clear understanding of what training will entail and how much training will cost. Systems that provide a lot of training resources are generally good investments.
Now, before you make your purchase, understand what your ERP system can do. Some ERP vendors offer software demos to help you make your decision. Genius software demo by Genius ERP is one such example. Trying before you buy will be a smart strategy.
An ERP system needs to fit more than your company budget. It also needs to fit your goals, your existing systems, and your training style. Great ERP systems boost growth, speed up throughput, and increase profitability. That is because these systems give business owners the power to track and analyze data across multiple platforms and different areas of business.