How to Pick ERP Software: The Complete Guide for Businesses

Are you exploring the option of outsourcing your operations? A common place to look at is picking out ERP software. By outsourcing your operations, you’ll find a business solution. You’ll also free up your in-house resources to do more complicated projects.

In this guide, we’ll explore what ERP software is and how to pick ERP software for your business.

Be sure to read on to learn more!

Evaluate Your Business’s Needs

Evaluating your business needs is the first step in determining which ERP software is best to meet your business needs. Before beginning this process, it is important to create a list of the goals and objectives you wish to achieve with an ERP software provider.

Identifying the specific features that your organization requires such as manufacturing, procurement, financials, customer relationship management, supply chain visibility, and analytics should be deliberated. 

Compare the Options

Comparing the different options involves looking at the different prices, features, and systems available.

Compare the software costs, and any necessary extra services such as customization, training, and support costs, and look into the integration capabilities of the software.

Select an Implementation Partner

An experienced, qualified partner can help guide a business through the configuration and deployment process, advise on best value, and support the business and its end users during testing and beyond.

When choosing a partner, it is important to take factors like the track record, commitment to ERP systems, and installation processes into account. Research the industry, product, and individual partners to ensure the business and its needs are properly matched.

Businesses can also ensure that any potential partners are up to date with the latest technologies, compliant with any data security regulations, and aware of local, state, and federal tax policies pertaining to ERP software features. 

Check out the benefits of SAP Business One and see if it is the right software for you!

Understand the Cost Structure

There are typically two pricing structures for ERP systems: one-time licensing fees and subscription fees.

One-Time Fees

One-time fees will cover the initial purchase of the ERP system and must be taken into account when determining the total lifecycle cost of the ERP system.

Subscription Fees

Subscription fees are typically charged on a per-user basis and are often highly customizable to better fit the needs of the business.

Understanding the cost structure of the ERP system can offer insight into the long-term value of the system.

Purchasing a one-time-fee system may offer more long-term value if the business needs extend beyond the term of the subscription, while subscription-based systems may be more suitable for businesses with temporary, or limited needs.

Develop a System for Monitoring Progress

When you pick ERP software, it is critical to also develop a system for monitoring progress. This could involve setting goals and implementing reporting tools to measure progress against those goals.

Be sure to choose a software system that includes customizable reports, so they can be tailored to suit the needs of the business. Also, look for real-time dashboards that will provide up-to-date information on the performance of the system. 

Learn How to Pick ERP Software Now

By following the guide on how to pick ERP software, businesses can now make the right decision on the right platform for their organization. Try out a demo today and take control of your business processes with an integrated, customized ERP system.

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