More enterprises now understand how technologies can help them manage their businesses, but not all know how to use them to increase their productivity. Choosing the right software for your business is essential. Cloud accounting and HRIS are all great at managing companies’ activities, but most of them run to a halt when they encounter difficulty integrating these technologies. This is where the ERP system becomes useful.
ERP System: what is it?
Enterprise Resource Planning (ERP) system is a management software for businesses that enables companies to integrate their automated processes and manage them from one handle. It comes with many suite-like modules that suit a company’s various needs to prevent them from installing various software for their functions. However, the issue now lies with companies knowing the most suitable set of modules for their desired output.
To better understand the ERP system and choose the best module, one needs to know what ERP is all about. An ERP system is a complete integrated system that manages the affairs of businesses dealing with production or distribution and helps them manage their finances, supply chain, human resource, and accounting aspects.
How to select an ERP system
The following questions will reveal some of your company’s strengths and weaknesses, thereby allowing you to ascertain where and how an ERP system can help you if you need it. Use the SWOT approach to answer these questions.
What is the size of your company, and what options do you seek from an ERP system?
Is it challenging to meet up some industry-specific requirements?
Do your company lack key information and business intelligence?
Are you still using spreadsheets, double-entry, and other manual processes?
Is it taking forever to come out with your financial statement? How erroneous are they?
Answering yes to these questions and more proves that you will find an ERP system’s services useful, and you should get one immediately.
Consider the following factors
Some people step back at a view of the price of getting an ERP system, among other factors. However, getting this software for your business is an investment that will increase your productivity and savings.
Consider answering the following questions before choosing an ERP:
How much will it cost to own an ERP system? Consider the cost of implementation, customization, training, maintenance, support, updates, etc. and determine these costs’ possible projection in five years.
Will your potential solution thrive on an in-house server or through the web?
What are your most needed functions, and which would you prefer as a bonus?
Are the features and functions easy to use and understand?
Is it location-based, or can it be used anywhere?
What level of training and implementation will you need for the new server?
Where can you find the most capable vendor?
Pick your match and contact the provider
From your answers to the questions above, you should pinpoint some options that match your needs. Contacting the vendor is the next thing to do.