There is widespread adoption of enterprise resource planning (ERP) systems among many businesses today. The Aberdeen Group estimates that 96% of growing companies who excel in their respective industries rely on an ERP system.
Want to know why? It’s simple. Increased productivity.
ERP systems, cloud-based ones especially, enable business owners to streamline their business and financial functions, increase the productivity of their accounting staff, and gain a competitive edge over their competitors. These are just some of the benefits that compel more and more companies to go digital.
With a vast array of solutions in the market, how should SME owners decide which ERP solution is right for them? There is no correct answer to this question. If you find yourself overwhelmed by all the choices available, temporarily hold off on procurement until you have the answers to the following questions:
What specific functions do I require from an ERP?
Before reaching out to prospective vendors, seek clarity on what you require from the ideal ERP software. If you are looking to automate your business accounting functions, gather input from your accounting team. Helping them identify their needs and having them communicate clearly with you is a necessary step to understanding your company’s specific accounting requirements.
Can the ERP software I am considering integrate with the other systems I am using?
When your IT team tells you that your ERP accounting software needs to integrate seamlessly with your current system structure, believe them. Digital transformation requires the alignment of efforts across several departments like tech, sales, and finance. Such alignment means your ERP software has to be compatible across different systems and platforms that your business currently uses. Conduct due diligence to identify widely used systems as they are less likely to cause integration issues than their counterparts.
Does my potential ERP software provider offer onboarding training?
To smoothly transition into the use of the ERP software, choose a vendor that offers comprehensive user training. The more specific their training modules are, the more significant the impact it will have on helping your employees understand the real benefits of the software.
Is my potential ERP software provider open to embracing new technologies?
Make sure your business, and your ERP software, can quickly adapt to new technological breakthroughs. Does your software provider have a mobile app? Are they beginning to embrace new technologies? The answers to these questions should help you determine your provider’s capability and willingness to improve their ERP product in the long run.
How much am I willing to pay for an ERP software?
Your ERP procurement budget plays a vital role in your software selection process. Here are some key areas that require your attention:
- The contractual fine print – ascertain whether what you’re paying is a one-time fee that includes all the features you want, or requires subsequent add-on payments.
- Onboarding and training sessions – clarify if your contract includes onboarding and training, and the exact number of sessions if it does. Make sure you are agreeable to your solution provider’s proposed package.
- Negotiate where you can – some providers remain open to flexible negotiation processes and are willing to arrive at a training and onboarding package that serves your needs and budget best.
As the right ERP software for your company might not necessarily be the cheapest, consider the above carefully as you would not want to break the bank when purchasing it.
What are the other customers saying about the software?
Gathering customer feedback can help you finalize your purchasing decisions. Find out what previous customers are saying about the ERP software and their reviews about the provider. Visit their website, look them up on social media, and read customer reviews — social proof of how effective and potentially useful the software is.
Getting the right ERP accounting software can make or break a company’s transitioning process from an on-premise to an on-cloud platform. You should also stay up to date with the latest digital trends to help you make smarter business decisions. Deskera promotes automation and modernization to streamline business processes and help SMEs grow and scale.
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