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How To Select the Right ERP System Project for Your Company

Year 2014
April 2014
How To Select the Right ERP System Project for Your Company
29 Apr 2014

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The process of selecting an ERP system project involves navigating through a sea of options, considering diverse features, and aligning intricate technical solutions with the unique needs of your organization. Join us on a comprehensive exploration as we delve into the essential steps and considerations that pave the way to finding the perfect ERP system for your company’s growth and success

The Importance of ERP Systems Project in Business Operations

An ERP system is a centralised platform that integrates various facets of a business, from finance and human resources to supply chain management and customer service. As an essential part of every business, it’s necessary to know the importance of an ERP system project. 

Streamline Business Operations

The most fundamental aspect of an ERP system is its ability to streamline operations. By centralising data and processes, it eradicates the inefficiencies and redundancies often seen in disparate systems. Imagine a scenario where information seamlessly travels across departments, optimising everything from inventory management to order processing – this is the power of ERP systems at work. 

Real-time Decision Making

In a fast-paced business environment, the need for real-time data is paramount. ERP systems provide precisely this by offering up-to-the-minute insights into various operations. It allows managers to make informed decisions swiftly, contributing to more agile and responsive business strategies. 

Enhance Collaboration and Communication 

Communication breakdowns and silo mentalities can be detrimental to a company’s growth. ERP systems bridge these gaps by fostering improved communication and collaboration among different departments. When information is accessible across the organisation, it fosters a more cohesive and efficient work environment. 

A Holistic View of Business Performance 

Having a comprehensive overview of business performance is invaluable. ERP systems generate reports and analytics that provide a bird’s eye view of the company’s operations. This data-driven approach aids in identifying strengths, weaknesses, and areas for improvement, facilitating strategic decision-making. 

Scalability and Adaptability 

Businesses are dynamic entities, constantly evolving to meet market demands. ERP systems are designed to be scalable, catering to the growing needs of a company. Whether it’s expansion, diversification, or process refinement, these systems can adapt, ensuring that the business remains agile and competitive. 

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Steps to Select the Right ERP System Project for your Business 

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Very often, SME does not have an in-house IT staff to assist the Management in the selection of ERP software. Sometimes, an IT staff may also not be well equipped with the right knowledge and selection consideration. Here are some suggestions on how you can do so: 

1. Choose an ERP System Project based on critical must have functions, not the good to have features

Some software may look very impressive in terms of interface, and it may wow the audience in the demonstration. But careful assessment may reveal a lack of functionalities within the software. Interface impression is subjective, and software can be very nice to look at but if you do not look into the ease of use (not to be confused with a nice interface!) and the extensiveness of features, you will face more problems during the ERP system rollout and cause the ERP system rollout to fail. Of course, the most ideal is that the ERP software has both functions and user friendly interface. 

2. Ensure that the ERP Software vendor can show mockup demo based on your actual sample data 

Such exercise no doubt will spend more time on your users’ side, but the effort spent will help to ensure a minimum expectation gap during the ERP system project implementation which will be far cheaper than a failed software investment. Data given to the ERP system vendor should cover from the start of your entire workflow down to finance accounting. If the demo cannot be simulated, chances are there are some missing workflows from that ERP Software. Do bear in mind that NOT all ERP system vendors can customise the software to your needs, especially when the ERP software is not sold directly by the principal developer. 

3. Avoid reliance on people who have no actual knowledge on your business workflow and challenges

Some SMEs may think since they have no in-house expertise to assess an ERP software, they outsourced the selection to a 3rd party agent. However very often these freelancers have no or limited knowledge in your company actual SOP and thus, their assessment may even be less accurate than your internal department staffs.

4. Use ONLY ERP system project cost to eliminate vendors in 1st round

Every company definitely has a limited software budget to work with. However, using the ERP budget as the 1st round shortlisting may or may not be ideal (unless upright the budget is very far off from your original intention say your budget is $50,000 but the other software cost you $150,000 for example).  For discussion purposes, let’s say your budget is $50,000 with vendor A quoting you $80,000 while another vendor B quoted you $50,000. But does that really mean the $50,000 software can handle all features you need while the $80,000 vendor is “over-quoting” you?  Carefully detailed requirements assessment may give you a surprise as who knows after in-depth assessment, the $50,000 vendor B could end up quoting you $150,000 while the $80,000 vendor A may have more features, less optimised and end up quoting lesser? Well again the best situation is to find the most comprehensive software with the lowest budget possible but let’s face it, no matter which product or service, there is always a reason why certain product is priced at certain level. If that particular ERP Software is not able to provide that number of extensive functions, definitely it cannot command the price it asked for.

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The role of ERP systems in modern business is beyond just technological integration; it’s a strategic investment. From small enterprises to multinational corporations, the benefits these systems offer are undeniable. They not only enhance operational efficiency but also lay the groundwork for sustained growth and innovation. Move forward in enhancing your ERP system project with Synergix Technologies’ premier ERP software. Reach out to us today to discover the potential and revolutionise your operations. 

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