9 Steps to Finding Your Perfect ERP Today
In our previous blog, Tips for Business Growth in 2023: Highlighting the importance of Cloud ERP System, we’ve highlighted the importance of cloud ERP system for your business. However, finding the right ERP solution for your business is a daunting task and is critical for your business success. If you’re someone looking for a cloud ERP solution for your business but confused how to get it right, this blog is for you. Here, we’ll showcase 9 steps that will help you find the perfect ERP for your business.
9 Steps to Finding Your Perfect ERP
- Define your business requirements: Understand your business requirements and identify areas where an ERP can add value. Identifying gaps will help you address issues that act as a bottleneck in growth.
- Identify potential vendors: Research and identify ERP vendors that meet your requirements. There are several ERP vendors offering their products. It is always good to reach out to vendors to understand the cost and licensing model. This will also help you finalize the budget.
- Implementation: ERP implementation is a devil in detail. So, it’s better to understand the implementation approach. It’s not always easy to onboard inhouse IT resources due to high costs or skill gaps.
- Timelines: As it has already been stated above that ERPs have a bad reputation for timelines overruns. Always opt for an ERP solution that not only offers you the option of customization but also of the standardization as configuration takes less time in implementation.
- User-friendliness: Always opt for an ERP solution that can be operated easily by business users. The interface should be easy to use and in case, if you need training, it would be available readily.
- Consider cost and ROI: Evaluate the cost of the ERP system and the expected ROI to ensure it is a sound investment.
- Analyze security and compliance: Evaluate the security and compliance features of the ERP system to ensure it meets your company's needs.
- Evaluate scalability and flexibility: Consider the scalability and flexibility of the ERP system to ensure it can grow and adapt with your company.
- System updates: In this highly competitive world, customer expectations are rising exponentially. It is recommended to opt for an ERP that is designed on the principle of continuous innovation.
Since you’re now aware about different steps for finding an ERP solution, let’s recommend Oracle NetSuite. And, we’ve reasons for that:
- Configurability: Based on Oracle's 20+ years of industry leading practices and experience, SuiteSuccess comes with pre-built reports and pre-configured roles with dashboards and business intelligence metrics to be used by people in roles like yours.
- Timelines: As SuiteSuccess comes with 95+ pre-built reports and pre-configured roles, it can be implemented in 100 -140 days. Compared to it, traditional frameworks take closer to an average of nine months to implement.
- Implementation via partners: NetSuite has a world-wide network of implementation partners. In case you don’t have IT specialization, rather than onboarding a inhouse team, you get the opportunity to collaborate with a NetSuite implementation partner for the implementation process.
- Pricing: NetSuite SuiteSuccess is designed to help small and rapidly growing companies manage all aspects of their business in a single system. NetSuite SuiteSuccess Starter Edition will have you up and running quickly with pre-configured KPIs, workflows, reminders, reports and value-driven dashboards for daily and strategic needs.
- Security Compliance: NetSuite is built to support both global standards and country-specific audit, tax and data security requirements.
- Updates: Oracle rolls out continuous updates that consist of new features and functionalities to help owners handle their business more efficiently.
Hope, you’ve now understood what you should look for in an ERP and why NetSuite is a perfect ERP for your business.