Everything You Need to Know When Selecting an ERP System

In this competitive era, companies need a progressive mindset to choose the right technology that can help them unleash their full potential and steer ahead of the competition. ERP is the answer to your growth needs.

Choosing the right ERP system that suits your business model and needs is not an easy job. Especially since the technology keeps on evolving as per the market and consumer demands. In fact, the market is flooded with various options that you need to filter out based on your ERP implementation requirements.

No matter if you are looking for a new ERP software for small business or large enterprise, an ERP selection guide to understand the ERP selection process, or just starting your digital transformation journey, we have you covered.

The Need for ERP for Driving Success for Your Business

A growing business that wants to scale higher and fight the disruption must beat the following business challenges to stay ahead:

1. Gap Between Field and Office
2. Data Siloes and Manual Errors
3. Limited Financial and Operational Visibility
4. Under Utilization of Resources
5. High Operational Cost
6. Rising Personalized Consumer Demands
7. Poor Inventory Tracking and Control
8. Accounting and Regulatory Compliance

A dynamic, robust ERP system can help you address all the above concerns, and more!

ERP, or Enterprise Resource Planning, is a comprehensive business management solution that connects your departments to help you gain more in less. Having a cloud-based ERP is the need of the hour to make your business more modern, intelligent, and agile. Let us help you understand the functional requirements for an ERP system by taking the example of Microsoft Dynamic 365 Business Central implementation to learns how businesses across the globe use the ERP to make it count.

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How ERP Can Make a Difference: Major ERP Uses

ERP solutions consist of multiple modules to support all major functions required to elevate your business operations. Let us help you with the major uses of a popular ERP like Microsoft Dynamics 365 Business Central that helps companies enhance their growth and success.

• Business Finance & Accounting Operations
• Bidding, Sales, Invoice and Order Management
• Demand Control and Inventory Management
• Sourcing, Procurement and Purchase Operations
• Customer Relationship and Service Management
• Project Tracking and Resource Management
• Manufacturing Production Planning & Control

We understand every business has its unique business requirements, specific cash flow and finance model, customized workflow, and systems to meet their needs. Having any random ERP would not serve the purpose. Let us take you through the ERP buyers guide to make it easier for you.

How to Choose the Right ERP: ERP Selection Process

Before we go deep into the ERP selection process steps, analyze your growth needs by asking a few basic questions.

• What is wrong with your legacy and outdated system?
• Are you looking for a technology upgrade?
• Can you identify the areas that are tying your hands?
• Which existing systems are working fine and need to be integrated with the ERP?

Once you have answers to these questions, follow the ERP selection criteria checklist given below:

1. Determine if the ERP Suits Your Business Needs
   The first and major talking point when it comes to the ERP selection process is whether the ERP is a perfect fit for your business. The success of the ERP majorly depends on how far it meets your industry-oriented business needs. Talk to our consultants to share your unique business requirements and get a customized ERP software.

2. Develop an RFP to Define Your ERP Requirements
   Create an RFP (Request for Proposal) document to define your ERP requirements. It is important to ensure that you clearly propose your demands in writing. This helps the ERP implementation team or vendors to analyze the scope of the project and plan the next course of action.

3. Check If Your Current System Integrates with the ERP
   If your existing systems or platforms are generating results for your business and you are planning to continue using them in the future, go for an ERP that can easily integrate with them. Although the majority of the ERP options available do provide you with the app integration with add-on solutions, it is always best to check if your specific system is on that list.

4. Identify Project Implementation Time, Licensing Cost, and Budget
   ERP software investment depends on the type of user license as per your business requirements. Your functional requirements and future goals would call for the respective ERP modules adding up to the software cost. Another important factor that shapes the budget is the deployment model i.e. on-premises or cloud model chosen by you. This helps your vendor to add the licensing, data conversion, transfer costs, hardware maintenance, customization costs, etc. and ultimately devise a detailed project implementation plan and schedule accordingly.

5. Select the Right ERP Implementation Partner
   A great ERP solution alone is not enough. Having a reliable implementation partner is equally important. We understand that it is a rigorous process but having a dedicated ERP implementation partner with a successful track record would help you in ensuring a hassle-free implementation, including the required user training and support to help you make the most of your investment.

Why Choosing the Right ERP System is important?

Do not fall for the marketing gimmicks. Any random ERP is not the solution to your problem. It is not easy to choose which ERP is the right fit for your industry and company alike. Consult the experts who know the nerve of your industry to help you make a wise decision. Go for the system health review to analyze your growth areas and choose the ERP that suits you the best.

Microsoft Dynamics Business Central: The Most Reliable and Scalable ERP

Whether you are looking to meet emerging demands or finding answers to your limited business growth due to high operating costs, low productivity, lack of automation and financial visibility., Business Central from the house of Microsoft is the one-stop business solution for all your growth needs. It comes with the trust and power of Microsoft technology that would help elevate your business. Talk to an expert Microsoft Dynamics 365 consultant to discuss your requirements and get an ERP system customized to your needs.

Conclusion

If you are a business and looking for answers related to ERP implementation, ERP selection process, ERP system customization, and more, our ERP buyers guide above has you covered. Forget all your implementation woes. Leave your ERP problems to us and focus on other things to make the most of your investments and grow more.

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