09 Dec 2021
Adopting an ERP system is a long-run investment, so it is important to carefully map out your ERP requirements in advance to find the right solution. But how to identify what you need from ERP solutions? In fact, choosing the wrong system can be a costly and time-consuming mistake. So, in this article, we would like to build a checklist of the requirements for ERP software gathering process.
Survey Your Team’s Needs
When gathering requirements for ERP solutions, you must include the appropriate individuals from different departments. Speak with your employees to see how a company management solution might assist them in improving their department’s productivity. Inquire about the process gaps, the challenges they confront and identify manual processes that waste time and prevent them from achieving their goals.
It is vital that representatives from all of the departments attend this discussion. It can range from managers, directors, or supervisors who want system information to IT managers and technicians who are responsible for administering and supporting the solution.
List Out The Best-fit Functionalities
It is critical to identify which functionalities are the most suitable for your business. Observe and analyze each department’s performance then compare them with the organisation’s targets to determine which operations are underperforming. Since then, you can easily choose the best-fit functionalities for your enterprise.
Let’s take service firms as an example. Service firms usually have problems in understanding & fulfilling customers’ requirements. So it is difficult to attract more new customers and retain the current ones. In this case, a CRM module can be an effective solution. The solution provides a centralised place which records all key customer data such as their preferences or purchase history. So employees can easily follow up with customers, gain a better understanding of their main concerns to fulfill customers’ requirements.
Besides, looking into the company’s difficulties in detail assists you in figuring out whether you require customisation or additional functionalities to your ERP requirements.
Consider Cloud or On-Premise Hosting
There are 2 main types of choosing an ERP system’s server: cloud-based and on-premise. Each type has its own benefits and also drawbacks. So you can base on your business type, your business’s requirements, and goals to choose the right one.
As for the on-premise ERP system, the organisation can directly configure and manage the computing infrastructure and data. This allows them to automate organisational processes with complete control over the system. However, it usually comes at a hefty price and takes a long time to deploy since you need to have your own IT experts to take care of your own server.
A cloud ERP system is the best option if you desire faster deployment time and lower expenses. Users can access and update data via a web browser or a mobile application with real-time synchronisation. This allows them to concentrate on their core business operations without having to worry about IT infrastructure, system maintenance, or other associated issues.
You can also read our article: Cloud-based or On-premise ERP System? for more information.
Figure Out Integration With Existing Systems
During the requirement analysis process, do not forget to list out and consider the current programs or hardware that you want to continue using alongside your ERP. The ERP software you adopt must be able to simply integrate with these platforms.
It’s crucial to spend time thinking about the integrations you’ll require, as sometimes, companies will neglect or undervalue this stage. Investing time in learning about the integration process while evaluating ERP suppliers will help you save time.
Defining a realistic budget for an ERP system is a critical requirement for ERP system implementation. You must ensure that your company has sufficient funds to adopt an ERP system that adapts all your specific requirements.
The budget of implementing an ERP system for each company is different, depending on the company size, the number of users, and their own business requirements. However, normally, a company has to pay for software licensing fees, server fees and network hardware, data migration, training, upgrade & maintenance fees, consultancy support post-implementation.
Set A Realistic Budget
Defining a realistic budget is a critical requirement for ERP implementation. You must ensure that your company has sufficient funds to adopt an ERP system that adapts all specific requirements.
The budget for implementing an ERP system for each company is different. It depends on the company’s size, number of users, and their own requirements. Normally, the total budget should include software licensing fees, server fees and network hardware, data migration, training, upgrade & maintenance fees, and consultancy support post-implementation.
Shortlist Potential ERP Vendors
After considering all the ERP requirements above, it is time to shortlist several potential ERP vendors who can fulfill those requirements. The vendor must understand your industry, your business and have specialised knowledge in converting your needs into a practical solution. Depending on your needs, they will suggest the best-fit modules for your business, any customisation needed, and the ability to integrate with your current platforms. Then the vendor will also provide you with a demo to demonstrate how the solution would perform in a real-world scenario.
Conclusion
If you want to adopt an ERP system to boost your company’s growth, the above ERP requirements are a suggested checklist that you should consider in advance. Having said that, no matter what sort of ERP solution you choose, make sure that it fits the organisation.
Being a fully-integrated, customisable, and cloud-based ERP system, Synergix ERP software will absolutely satisfy your own unique ERP requirements.
Grants
To encourage Singapore companies to implement advanced technologies, the government has provided Productivity Solution Grant (PSG) and Enterprise Development Grant (EDG). These grants offer maximum funding support of up to 50% of the qualifying cost. Do not miss out on this opportunity to digitise your business.
Contact us now for more information.
