This article will help your business create a strategy to identify the right ERP software for your business needs and core business considerations for selecting an ERP system.
At the center of businesses, we see business data and software solutions that aid in the day-to-day processes and functions. Enterprise Resource Planning (ERP) software digitally transforms your company in order to meet day-to-day goals and long-term business goals. ERP software saves you time and money. This article will help your business create a strategy to identify the right ERP software for your business needs and core business considerations for selecting an ERP system.
Enterprise Resource Planning (ERP) software is an extremely complex and robust software system that touches a high percentage of your business. ERP software systems encompass the majority of a companies operations from commerce, HR, analytics, supply chain, commercial sales, and much more. A true ERP requirement gathering outline is the first step to choosing the right software. The right ERP software can elevate your business processes, create efficiencies, eliminate inefficiencies, streamline internal communication, and ultimately, provide better business outcomes and client relations through enhanced operations. Your ERP system will be the heart of your company and centralize many of your most valuable tools.
An ERP system does not succeed unless you have a strong solution in addition to a strong team. Your requirements begin with the people who have the most at stake- also known as your project stakeholders. The team of people that are evaluating various ERP systems (i.e. Finance or Supply Chain Management) need to be the key drivers in decision-making. It’s essential that your stakeholders are well represented, have strong knowledge of business needs, pain points, how their input is relevant in the decision-making process, and clear direction on how this ERP will come into play in the future. The people selected to make these decisions should consist of an executive stakeholder, but it is also just as important to include subject matter experts and keep in mind those who are going to be utilizing the system daily, also known as system users. These system users will give you clear insight into the feasibility of how that system might integrate into their current work process and what is consumable for them.
Along with ensuring you invite the right subject matter experts and stakeholders to meetings, it’s also vital that your team engages with buy-in and active participation while planning. The people selected will be responsible for participating and actively listening to the issues that system users are calling out. Key requirements must be prioritized by each individual department. As a team, you can chart all requirements that fit everyone’s needs and cross-reference them to create one combined list of must-haves.
These prioritizations should stem from performance initiatives, operational impact, and interoperability. Immediately look at the biggest pain points within your organization. Outline the biggest problems and then get an understanding of how timely those can be solved with that specific ERP solution. Does this impact your prioritization? How could this align with other issues that have been outlined that aren’t considered a large issue?
Once you have a strong understanding of those issues you will be able to easily identify what components of an ERP solution are going to be most beneficial to your business.
In the corporate world, there are many times where employees run from the word automation in fear of layoffs or the ability to replace a human with a machine. In reality – automation allows employees to focus on work that matters. A strong ERP system allows companies to improve business reporting, create efficient customer interactions, eliminate administrative overhead, enhance scheduling/planning, and lastly evolve your company as technology does.
A strong ERP solution will integrate with existing systems, such as your CRM, eCommerce, business intelligence and other business applications. By integrating these systems you are setting up your organization to be more cost-efficient to your organization, have data accuracy, create better workflows, and overall improve the lives of your employees. You can not only meet customer and employee expectations but exceed them through streamlining your departments for cohesive collaboration.
One of the strongest champions of an ERP system is the finance department in a company. ERP systems can save tremendous amounts of time through the improvement of invoicing, budgeting, and payroll processes. These systems enable your organization to manage financial data through automation and reduction of human error and inaccurate finance reporting. An ERP system can also enhance your customer’s experiences through AI recommendations and reporting. Below are some core functions to consider:
Employee data is at the heart of any HR department. Onboarding with a company can make or break an employee’s experience with a company. Through a cohesive system, you enable your HR department to interact with your other business functions through onboarding, management, payroll and compensation, recruiting, and also training. The ERP you select should make HR functions more efficient and interact easily across all core business functions. Below are some core functions to consider:
This system will provide your company visibility into the end-to-end daily processes of manufacturing, customer fulfillment, and resource management. An ERP system can provide insight into your production activity, inventory, purchasing data, and much more. This solution will help you optimize performance and employee resources within your manufacturing operations. Below are some core functions to consider:
ERP’s will create a strong automated process for your procurement, distribution, and resource management. It’s important to factor in the ability to automate tedious tasks and allow for employees to operate at higher productivity levels in an ERP. Is the data entered centrally located and easily accessible? Do you have live data visibility? Can you see supply, manufacturing, and employee output data all in one place? Below are some core functions to consider:
Automated marketing tools allow businesses to manage their websites clicks, hits, and demo requests into one cohesive system. From the moment a customer clicks on your website and enters lead information that data can migrate to your centralized ERP to be further worked and transformed into a customer. An ERP will allow you to streamline your sales process from start to finish and then easily hand that customer off to finance and project management. Below are some core functions to consider:
If your business is looking to grow beyond a legacy ERP system, struggling with systems that are no longer keeping up with growth, or you aren’t meeting your customers where you need an ERP solution needs to be a consideration. As technology changes so should your business, meet the customers where you want, keep your employees happy, and continue to grow your business as you meet your transformational strategies. If your business is considering what is next in your modern workplace, schedule a demo with Avantiico’s team today!
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