5 steps for selecting the right ERP system for your business

First, companies need to evaluate their greatest needs for selecting an ERP system. Organization leaders should balance present pain points with future needs.

Some questions leaders can ask to reveal pain points within their organization include:

• Financial reporting. How will we gain reliable financial reporting that is both accurate and timely?
• Analytics and data. How much visibility will we have in terms of sales, production, and procurement processes?
• Automation. What process automations are needed? Can we use the software to automate job costing, sales orders, and supply chain management? What other processes would be advantageous to automate?
• User experience. How intuitive will the software be? How will it affect the productivity of our employees? What is the direct cost benefit to the organization?
• Mobile accessibility. How accessible will the software be for mobile users who need real-time access in the field? Which users will need mobile accessibility?

Decision-makers can also consider the places within the organization that need to be updated, such as finance, sales, or operations, and then take a moment to determine what they don’t know. It might also be time to look to others to learn what challenges they’re facing daily.

Leaders should also encourage ownership and get buy-in from key stakeholders and influencers by appointing an internal sponsor from each area that might be affected by an ERP investment.

Departments to consider include:

• Accounting
• Inventory
• Order management
• Human resources
• Sales

The internal sponsors should be aligned with big-picture business goals, favor digital innovation, and be willing to be held accountable for adoption within their departments. Each business area will provide a unique angle on their pain points, essential needs, and future needs. Considering the needs of your teams can take time early on in the process, but it can save time, resources, and frustrations in the long term.

There’s no shortage of ERP software options, and it can be overwhelming trying to focus on the top two or three. Leaders don’t have time to wade through a sea of online brochures and endless phone calls. Fortunately, key questions can help leaders narrow the field, saving time and headaches.

• Industry experience. What ERP vendors are widely used in our industry? What degree of expertise do they have specific to our industry?
• Customizations and applications. Does the ERP platform allow for the development of additional applications so we can customize it for our specific organizational needs?
• Flexibility. How flexible do we need the ERP software to be now and in the future? What degree of customization is needed to work in our industry?
• Reporting. How will the ERP software support industry-specific compliance requirements and reporting?

Among the various available ERP systems, NetSuite ERP is an ideal solution for many businesses. It is a cloud-based software that streamlines and automates business operations for better efficiency. Instead of relying on several different applications for business departments and functions, everything can be managed in one place. The results are cost savings, the ability to make better decisions faster, and the capacity to grow without having to slow down to upgrade technology.

Once leaders have narrowed the field to the top two or three vendors, the next step is to secure a vendor that provides an effective and efficient implementation process with continuing support. While many vendors can offer a quick launch time frame, it’s important to consider all phases of the implementation process, from pre-launch and post-launch to ongoing support.

Some important factors to consider when selecting an ERP vendor include:

• Industry acumen. What level of industry insight will be provided? Does the vendor have a deep bench of industry specialists who understand the specific needs and goals of our business?
• Customization abilities. What level of customization will be provided? Will the ERP vendor have the knowledge to customize and add applications to meet our organizational needs, or will it be a cookie-cutter experience?
• Implementation know-how. What is the launch time being offered? Is the launch time frame more about hitting a date or providing world-class service?
• Training offerings. What pre- and post-launch training is offered? What additional resources will be provided to help our employees enjoy a smooth user experience?
• Support services. What does ongoing support and collaboration look like? Will it be the same consistent team who knows our organization, nuances, and history?

Once leaders have done due diligence to prioritize their company’s needs, determine who within the organization will help, and identify which systems and vendors are best to meet business goals, it’s time to decide.

However, there is one more key area to consider:

• Is the vendor and its solution reputable? What level of experience does the ERP vendor have? Will it be able to anticipate problems before they happen? How long has the vendor supported the selected ERP system? Are there client testimonials from peers or competitors that attest to the vendor's success? Are there case studies on the selected ERP solution we can use to better understand its real-world applications?

Selecting the right ERP system lays the groundwork, but there are many more decisions to come as you pursue the implementation. If you have questions about ERP software, please don’t hesitate to contact our team of ERP specialists.

Reach out to our team today.