Criteria for Selecting an ERP System

Many small businesses in Singapore are using Enterprise Resource Planning today, and if your business is not, it is time to consider purchasing one as it greatly improves the efficiency and operations of your company. While choosing which one is most suitable, there are numerous factors to think of and several considerations to make. What are the key criteria for selecting a good ERP system that should be known to your team and you prior to going ahead with purchasing one? It is imperative that you consider the various criteria before hoping ahead with your decision to purchase and deploy an ERP system across your business. Check out the following key considerations for guiding you while you try to decide on the most appropriate ERP system for your firm.

But firstly, one ERP vendor you should check out is Hitachi ICT Infor ERP. Hitachi ICT offers a wide range of systems and has the expertise to support your system when you require it. You should check them out if you are looking for a software to automate your business processes efficiently and safely.

 

Resources and budgets

ERP software is available at varying prices today. In fact, the most expensive system could be as high as 5 times the cheapest ERP software. Ever thought what you are planning to change could be the reason for such big price variations? The reason is that some businesses require certain advanced functionalities in the system that may shot the price of the software, On the other hand, there are other businesses where the criteria could be less complex and so they can opt for a reasonable prices ERP software, it is not always necessary that a more expensive ERP solution will be superior.

Objectives and goals of the company

One of the most important reasons to migrate to an ERP system to make sure that your corporate goals get the necessary support. Different organizations will have their own unique set of objectives. Here are some such instances:

The speed with respect to market goals: Is it possible to take your product to the market more quickly after complying with all the regulatory needs?

Efficiency goals: Can process and task redundancy be done away with so that multiple tasks are clubbed together and every element occurs only once?

Growth goals: Is it possible to double the size of a business with the available resources?

Future scalability and underlying technology

In the past, the level of technology used by an Enterprise Resource Planning system was not a key consideration. It was the functionality of the software that was the priority when companies first adopted technology into their operations. However in modern times, if you are planning to change your existing ERP system, the cost includes not only the software price but also the cost of lost time, training and business disruption. When you select an ERP system today, choose one that uses newer and more advanced technology, and the software will enjoy longer longevity and will definitely be a better investment for your company.

In conclusion, ERP software is a must-have for any company looking to compete effectively in the modern technological landscape today. However, the level of technology used by the ERP needs to be scalable and easily updatable in order for your investment to be a good one. This is the most important goal for your money to go the extra mile, on top of the relevant reasons such as ERP can benefit your company.