Complete Guide to Finding the Best ERP for Your Business, Part Two: ERP Evaluation

Thanks for joining us for the second post in our series where we will cover some of the most frequent questions we’ve heard over the last 27 years about the ERP selection process. If you are just beginning your ERP journey, you will want to go and look at our last post before moving on to this one. In it, we answer your questions about the research needed to lay the groundwork for a successful ERP implementation project.

Now onto the topic for today, ERP evaluation. At this stage, it is time to get your team together, draw up a list of your requirements and then compare your ERP options side-by-side to see which one is the best fit.

Just like ERP research, ERP evaluation is a very big topic. So, as I did last time, to keep this blog from getting too long, I will give a high-level answer to each question and then follow it up with additional resources where you can find more information.

 

Question One: What tips do you have for choosing a new ERP system?

Looking at vendor websites can be confusing because, of course, they’re all going to tout the benefits of their own products and solutions. Making sense of this information requires having a strong understanding of your requirements and your deal breakers. Focusing on that will keep you from being distracted by bells and whistles that may look cool, but not be important to your business.

For more information, read “10 tips for smarter ERP system selection.”

 

Question Two: What questions should we be asking ourselves or vendors to decide which system best fits our needs?

Again, choosing the right ERP system is a major decision, one that you cannot take lightly. Because it is likely to affect your business for many years to come. Making the right selection depends on doing your homework upfront, giving yourself and your entire ERP selection team a complete picture of what it is you expect from your ERP system.

For more information, read “the business management system evaluation checklist”

 

Question Three: My finance department is not yet on board with the purchase of a new ERP system. How do I justify investments to them?

You may be surprised to know that businesses who move to a modern cloud ERP system are seeing a 42% increase in ROI, as well as a 50% decrease in spending on support when compared to traditional ERP systems.

For more information, read the nucleus research report, “cloud ERP gets 43% faster payback”

 

Question Four: I’ve heard a lot about cloud ERP solutions, but I’m not sure what all the fuss is about. Why are they so popular?

Less than a decade ago, 80% of medium-size companies wanted an ERP solution installed on their own servers (on premise). But, over the last decade there has been a dramatic shift towards cloud solutions. The major drivers behind this are increased security, lower total cost of ownership and improved ease-of-use.

For more information, read the e-book, “why is the cloud, the future for ERP implementations?”

 

Question Five: Should I be looking for an ERP that is easy to customize and offers a wide variety of add-ons?

The answer to this question depends on how you will be using your ERP system. If you’re using it simply for finance and accounting, customizations and add-ons may not be very important. But, if you are selling to customers and want to use the system to manage customer records, projects, or other aspects of your business, having this flexibility becomes more important.

For more information, read this article about the benefits of having a flexible ERP platform.

 

Question Six: My finance/accounting department has asked that we prove the value of the ERP system to the business before they will fund the purchase. What’s the best way to do this?

This can be done by calculating the total cost of ownership, which is the difference between the total system cost and the return on investment.

For more information about calculating the return on investment of an ERP system, read the guide “return on investment analysis for ERP replacement” or calculate your ROI with this handy tool.

 

Question Seven: once we have a short list of the ERP solutions we like, is it possible to get a free trial to test each and see which one we like best?

Absolutely! We understand that being able to get your hands on the software is a very important part of making a final decision about whether an ERP is going to work for your business. So, at Intelligent Technologies, Inc. we offer free trials of many of the solutions we offer, including Acumatica and Microsoft Dynamics GP.

For more information or to sign up, visit this webpage.

 

Final Thoughts

There you go, here is a brief explanation of the most common questions we get from prospective clients regarding their ERP evaluation process. We hope you will use this information to guide you in choosing the best ERP solution for your business.

Want to explore other factors to consider during the ERP evaluation stage? Visit this information packed webpage, by Acumatica, a leader in the cloud ERP market.

 

Still have unanswered questions? Need advice tailored to your specific situation? Contact us. We will be happy to help. With over 25 years’ experience helping small and medium-sized businesses just like yours find the right software solutions to fit their needs, there isn’t much our experts haven’t already seen or done.

By: Laura Schomaker, Intelligent Technologies, Inc., a North Carolina Acumatica and Microsoft partner

www.inteltech.com