A major impediment for businesses in the present day and age is an information silo. A business suffers immensely if it is difficult for information to flow freely within different departments. ERP, with its vast integration capabilities, offers a solution to this problem. Moreover, in recent years its functional capabilities have only increased as it now encompasses Human Resource Management, Business Intelligence, Financial Statistics and much more in its ambit.
Here are 4 essential things that you must definitely check before implementing ERP software in your business.
ERP software should be scalable
Your company will sooner or later expand. This means your employee strength will increase, your customer database will grow, and your business requirements will change. One important thing to note is that no matter which industry you are operating in, the business landscape will transform drastically in the next 5-6 years. A mantra that perfectly justifies the perennially altering world of business is “Change is the only constant”. It fits well with your ERP software as well. One of the most important things to look before deciding to go with ERP software is whether it can adapt to changing business needs and embrace emerging technologies. If your ERP is not agile, if it’s not able to keep up with the pace of your business, then it’s worth looking somewhere else. Why? Because an inflexible ERP, on the contrary, can hinder your growth.
ERP software should be customizable and add value to your business
ERP software can perform an array of functions, some of which may not be aligned to your business goals. But you need to be a little careful or you will end paying a huge upfront fee for purchasing functions that you don’t require. Thus, it is imperative that you have full clarity about your business processes so that you opt for only those functionalities that provide your business with a competitive edge. If the ERP software that you are planning to implement in your business doesn’t allow a high degree of customization, it is better to let go of it. It is also important to keep in mind that ERP software should provide value to your business. This can be in terms of cost-cutting, better asset utilization, risk mitigation, revenue enhancement, increased throughput, and decreased downtime.
ERP software should support mobile devices
Businesses across industries are focusing heavily on increasing the mobility of their workforce. This ensures that their employees can work from anywhere and at any time, thereby boosting the productivity of the business. Thus, one of the most critical things to consider before choosing ERP software is to know whether it is mobile-friendly or not. Consider a sales rep who has no other option than to refuse to update a client’s agreement without being present in the office. No wonder, you would lose the customer. With the introduction of Bring Your Own Devices (BYOD), a sales rep can update information from the client’s site itself and access important data with just the press of a button. Thus, having ERP software that supports mobile devices is of utmost importance.
ERP software should be Cloud-enabled
With the introduction of cloud technology, businesses can virtually get rid of the need to purchase and maintain expensive storage hardware. Cloud makes your business database go on-air and decreases your operational expenditures. It provides tailor-made solutions as per the needs of your business plus it is completely managed by the third-party vendor. Also, it minimizes downtime, reduces redundancies, and it is easy on the pocket. According to research, 73% of companies have at least one application already in the cloud.
Conclusion
There is no denying the fact that ERP software is growing by around 10%-20% on a YOY basis. Owing to its high degree of utility and real-time capabilities, businesses are implementing ERP at a rapid pace, but they should keep other things in their mind as well. ERP software is not just limited to the IT department, it has a multi-faceted impact on the business such as process, people, and culture. Being said that, it is equally important to understand what it takes to find the right ERP software for your business.
