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Strategies to Best Leverage your ERP Solution

By Nisha Sharma - October 24, 2022 4 Mins Read

Organization-wide management processes are unified by a comprehensive ERP solution, providing business leaders with visibility and understanding of all facets of the company.

 The growing availability of advanced technology services in the industry makes implementation of the appropriate Enterprise Resource Planning (ERP) solutions a very complex process. There are some strategies that companies should employ in order to make the most of the their ERP solutions:

Determining the business case for the best fit ERP

Having in-depth knowledge about the current business processes including pain points and strengths is the right way to analyze the business requirements. Researching and defining the business process to determine business goals will help the business to invest in the right ERP solutions and corresponding business needs. These processes and requirements should eventually be as a requirement marker for the best fit ERP solutions available. Businesses need to have an open discussion with the vendors before selecting any ERP solution, to derive the best value.

Also Read: Cultivating an Innovation Culture in IT

Analyzation & technical fit

Besides the fact that ERP must be a business and not a technology initiative, CIOs must understand how potential ERP solution will align with their current business infrastructure. This alignment of ERP tools with business infrastructure needs buy-in from all the key stakeholders. Ensuring this involvement for selection of the right ERP solution, enhances better delivery and more effective adoption of the platform.

Comparing different ERP functionalities and features is the best way to get a better idea of the return on investment (ROI), that businesses will receive from each alternative.

This process helps businesses to break down the capabilities of the solutions and how they will be helpful for business growth.

Budget Alignment

Businesses must choose the modules according to the organization’s business needs, to optimize the budget. Regardless of whether they are installed initially or after a few months, the modules need to be a part of the initial planning and costing as well. Enterprises with changing long term goals and purposes, however, must definitely select an ERP that can meet both their current and long-term requirements. As part of the complex process of choosing and implementing an ERP solution, businesses must recognize all associated costs, including the total system cost, implementation costs, and the cost of any additional resources needed. Businesses must weigh value vs cost while making decisions. Adopting expensive, feature-rich solutions that are not necessary for the operation of the business will be an unnecessary drain.

Also Read: How CIOs Can Assess the Impact of Their IT Strategic Plan

Implementation

It is important for businesses to build a comprehensive project plan which includes an entire range of the activities that are required to install the solution and most importantly, ensure that the ERPs solution is fully functional, tested, and accepted by end-users. This helps businesses give a virtual yet practical experience of the ERP solution before actually buying it.

Future Consideration

Any new platform will need ongoing support, so organizations need to be rational and think practically, planning for the budgets and resources based on the frequency of software upgrades and the challenges of integrating the selected ERP with potential new hardware and software. As the company will grow, the ERP solution will also need to scale, to offer comprehensive support constantly.

Following the above-mentioned recommendations when deploying the ideal ERP solution for the company, will definitely result in the best performance, thus creating the most effective, automated, profitable, and user-friendly ERP solution that results in future business growth.

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AUTHOR

Nisha Sharma

Nisha Sharma is working with OnDot Media as a Tech Journalist. She has done Post graduation in Journalism & Mass Communication. Her prior experience was in B2B as a Content Writer. This is her first stint with a technology publication and she is on the high curve of learning about the IT sector, it's challenges, and the trends that move it forward.

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