What is ERP?
Enterprise resource planning (ERP) systems integrate internal and external management information across an entire organization, embracing finance/accounting, manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application. The purpose of ERP is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.
ERP systems include the following characteristics:
- An integrated system that operates in real time, without relying on periodic updates.
- A common database, which supports all applications.
- A consistent look and feel throughout each module.
- Installation of the system without elaborate application/data integration
How to Pick the Right ERP Software?
- Develop a list of selection criteria.
- List a comprehensive set of requirements before you start evaluating different ERP software vendors and ERP implementation partners.
- Take the time to do a proper due diligence by asking each of the ERP software vendors how their ERP systems match up with your company's requirements.
- Determine whether your company needs an on-premise, hosted, private cloud, public cloud deployment mode.
- Pay attention to which ERP software can meet most of the needs that your company has via least customization.
- Ask the ERP software vendor and the ERP implementation partner questions regarding their support coverage.
- Figure out what price point meets your budget.
- Find out the long-term ERP software product road map. Also, conduct your research whether any of these ERP software vendors might be an acquisition target in the long run.
- Ask each of the ERP software vendors to provide a product demo to your internal stakeholders.
- Before you start ERP implementation, establish an internal project team who can work closely with the ERP implementation partner.
- Make your decision and stick with it even if there is vendor, partner, employee turnover.
If you have additional questions, please contact us. We can help you select the right ERP software.
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Acumatica Cloud ERP