How to select the right ERP Software?

Every Company spends huge amount in automating their business processes. In general, Companies choose ERP solutions based on their budgets rather than their requirements. In most of the cases, the buying decision is based on brand name or because their competitors/Friends are using that particular ERP solutions. Evaluating software on the above mentioned criteria will not serve the purpose. This is why companies fail to implement ERP solution effectively. As a result they end up following the old process and the basic purpose of an ERP solution is defeated. In some cases, because they have spent lot of money in software they will continue using it without the desired result. Now let us see the basic steps to select the right ERP solutions

Compare the best ERP Solutions for your Business:

Step-by-Step Procedure to Choose the Best ERP Solution for your Business:

• As a company, you need to understand the main objective behind automating your business. One may want to track their expenses; one may want to measure their sales performance and so on. So each organization should define their objective well before automating their business.
• Next thing you have to consider is the learning capacity of your employees. If you think, your employees will be difficult to adapt to the new technology then you can think about providing sufficient training on the ERP solutions. If you still feel the existing employees will not be able to use it efficiently, you can think about bringing in additional employees.
• Next step to consider is the technological changes that are required for the new system. There is ERP solutions which can work with servers some without servers. Generally ERP solutions which requires a server will involve more investment. Similarly system configuration, internet facilities will also be a requirement in few cases. After looking into this you need to choose whichever is suitable for you.
• The next step you have to do is compare the available ERP solutions in the market. By comparing different ERP solutions you will know each software pros and cons.
• Then you will have to read reviews about short listed ERP solutions in the internet. By reading reviews about software you will get a fair idea about the feedback of the customers.
• The last step but the most important step is to finalize on the budget you would like to spend on the ERP software to achieve your desired results.

To get a proper analysis of an ERP solutions you can read more about it here.

Bhavana Nagendra

I am a Chartered Accountant with 5 years of experience in both Consulting (KPMG) and Industry (Tapzo).

I am currently assisting various Organizations in understanding the impact of GST on their businesses to help them with a smooth transition.

Key areas of experience include:
– GST
– Developing SOPs and Process Implementation
– Identifying and Implementing Internal Controls as required by the ICFR Framework
– Training and Development of staff in various Finance/ Audit functions
– Statutory Audits