The challenge isn’t finding innovative enterprise resource planning (ERP) software; it's narrowing your options down to a modern solution that effectively streamlines everyday work processes, follows regulatory standards, and scales with your growing business.
If you’re feeling a little overwhelmed on which ERP solution you should or shouldn’t implement, here are a few tips and tools to help you with your search.
Finding then implementing the right ERP software solution can be a daunting task, but a little preparation can go a long way. Here are three steps to get you started:
While it’s always good to start with a serious investigation of your business requirements, it’s also important to be honest with yourself and ask: “What processes do we do well and what do we need help with?” Once you’ve done an internal review, you can expand your research, see what the competition is doing, and what your customers expect.
When you’ve got a good grasp on your requirements and what processes you want to start with, you can delve into the ERP technology that’s meets your needs. Not only should you look at where you are now, project where you want to be in the future, then find the ERP solution that will help you get there.
The right technology partner can help you easily deploy the software you need, from financial management to manufacturing and supply chain management. . The best way to gage the value and working relationship with your future partner will be to schedule a demo to see if they have the skills, industry expertise, and technology to help you achieve your goals.
You may be ready for an ERP solution, but how about the rest of your staff? Make sure that everyone from users to IT managers are involved in the selection process on some level.
With all the ERP applications out there, it’s important to remember two things: ERP software should help you with your everyday tasks but also have the ability to assist in your company’s long-term growth. It needs to have capabilities to help with different financial and operational processes, it needs to be adaptable to your business needs, and it should also be built on a modern technology platform that gives you business process automation, insights, security, and scalability. Here are other benefits a modern ERP solution can offer you.
The solution you choose needs to offer pricing alternatives that work for you based on multiple factors, including the size of your business, the features you need, and where your data is hosted. Keeping your total cost of ownership (TCO) in mind, you should be willing to negotiate any and all costs with your technology partner.
Choose software that works with and improves on the business processes you’re using now. Efficient ERP should be adaptable enough to install on a server, on premise, or in a cloud solution and viewable on company devices, like tablets and phones.
An effective solution should easily integrate with other software and services you’re using today, with the potential to scale with your business locally and globally. This means identifying new business opportunities and expanding lines of business with the ability to transfer between multiple systems.
If you’re considering a move to the cloud, look for ERP systems that specialize in network and data security. It’s also important that the solution you choose helps you meet the regulatory compliance needs your industry requires.
Speaking of moving to the cloud, implementation can be the trickiest part of integrating new ERP software. Investigate your deployment options, including on-premises and automated, cloud-based solutions. We’ll break down the advantages of having ERP in the cloud later.
Here are some other benefits of having ERP in the cloud:
Discover how the Renault Sport Formula One Team successfully implemented traditional ERP functions and used data to make rapid changes for an even faster race car.
We’ve offered you an overview of the business benefits of a modern ERP solution, tips and tools on finding the right ERP software for your business and invite you to continue your search. Discover the ways that Microsoft Dynamics 365 for Finance and Operations can help you drive growth, make real-time, data driven decisions at global scale, and digitally transform your business.