You’ve now decided that it’s time to deploy a new ERP system for your company after considering your options, current trends, and the overall demands of your industry. Yet, picking one is not easy because there is no clear definition of the “best” solution.
You must decide between on-premise and SaaS, up-and-coming brands or well-known suppliers, industry-specific bundles, or broader solutions. With so many questions, it’s expected that businesses typically need help when selecting an ERP system, and because of this, finding a reliable implementation partner is crucial. Several of these companies will have tried-and-true procedures for recommending strategies that would be a suitable fit because they have worked with numerous organizations to help translate business needs into a successful ERP deployment. To assist you in choosing the best ERP software for your needs, let us, as specialists in this particular industry, break down the ERP selection process.
Step 1: Investigation
You have one essential question to address before doing anything else: what functional tasks must your new ERP system complete? Are you in need of an improved order processing system? Are gains and losses on foreign exchange a top concern? How about optimizing different account functions?
Make a list of all the functional possibilities possible with the ERP system of your dreams as part of your due diligence. All the teams and departments using the new system must collaboratively contribute to this process. Your list will undoubtedly grow in length as you learn about new cross-departmental functions, so take the time necessary to make sure this process analyzes all the essential needs and includes everyone who should be involved.
- Conduct individual and group interviews.
- Examine the present accounting regulations.
- Get familiar with how reporting packages are currently used.
- Analyze the data flows that support the current processes.
- Think about your future goals and the need for scalability.
Recognize that the most crucial stage in the ERP selection process is discovery. The significance of involving the appropriate parties at this stage cannot be overstated. Doing so will allow you to define your firm’s whole spectrum of needs precisely. The more checkboxes your ERP software will check once launched, the more meticulous you are at this stage.
It is wise to assemble an implementation team of diverse employees from your company who will see the job through to completion. Our article, Creating an ERP Implementation Team, contains more information on the makeup of this team.
Step 2: The Business Requirements Document
You will have gathered a sizable amount of data from all business areas once Step 1’s study is complete. The next step is to put everything in a business requirements document. Along with all your non-functional goals, mention all the crucial functions you identified in the previous stage.
Have you looked into vendors to determine their financial standing? Do you know which providers have a good reputation for providing excellent service? Although these factors have nothing to do with the features and operations of the ERP, it is wise to properly document them because of their unquestionable relevance to your decision process.
Once the document has been created, review it with the essential stakeholders to prioritize each topic. This step will be helpful when you get to the stage of comparing two or more products that appear comparable on the surface. You can distinguish between distinct packages by identifying the functionalities that are higher on your list of priorities.
Step 3: Making the initial choice.
You are now prepared to create a list of workable solutions once your internal demands have been identified. You must undertake significant exploratory research, which could take a few weeks or longer. Setting up calls or in-person meetings to discuss information and look into the issues you identified as high priorities during this time may be helpful.
Now, your list of ERP objectives should serve as a compass. Using it will help you weed out vendors who merely fail to supply what you require. This step aims to select the vendors you want to learn more about.
Step 4: Product demonstrations
You are prepared to delve deep into product demos once you have narrowed the field of vendors to a manageable number. These performances often last two to three hours. Before a demonstration, vendors often work with your company to highlight the business functions you are most interested in learning more about. A well-run demo should be centered on your company and its sector to give you a clear idea of what the program could do for your everyday operations.
After the demo, talk about and evaluate it with your team. Do you see any potential problems with the software? Does it sufficiently address your primary concerns? What features would you like to see back? Most people recommend giving a second demo to make sure you address any questions or problems that still need to be solved. A second demo clarifies things when just two vendors are being considered.
At this time, be careful to check your references. Most vendors will provide these, but you should also conduct independent research.
Step 5: Making a choice
When you complete this stage, give yourself a high five. You have put in the most effort during the ERP selection process, and your exhaustive study is finally complete. Creating a scorecard for the team with line-item business criteria like those outlined in Step 2 can help with any residual doubt.
Conclusion
Taking Your Business to the next step can only become a reality if you have the right expertise to deliver outstanding solutions. At Seibert Consulting Group, we specialize in delivering modern solutions to businesses that aim at taking full advantage of the eCommerce platform. We always customize our solutions to align with Your Business’ requirements and goals. Let’s start talking about your project and find out how we can help Your Business grow. Get in touch with us via our chatbot or email at hello@seibertconsulting.com and via our direct line at 760-205-5440.
