ERP business software

What are the critical factors for selecting an ERP Business Software?

What are the critical factors for selecting an ERP Business Software?

The background

An ERP Business Software is an integrated suite of applications. It automate an organization’s business processes throughout the entire order-to-payment-to-delivery cycle. They provide the end-to-end functionality that is required to operate effectively in any business scenario. Companies that use an ERP Business Software can improve efficiency, effectiveness, grow and enhance their profits.

Why the Cloud ERP Business Software

The cloud takes the ERP system to a whole new level with the ability to do business anytime, anywhere.

The cloud is already the preferred choice for ERP Business Software due to its affordability, easy & anytime/anywhere access, lower financial & investment entry barriers as well as minimal set up times.

The Cloud Revolution

The Aberdeen Group found those implementing a cloud ERP business software saw an over 20% profit jump. In an on-premise system ERP implementation, there was a less than 10% jump in profits.

We are in the midst of a technology revolution, with a majority of adults now constantly connected via a variety of devices that are constantly generating data and we need access to data for vital decision making and transactions. The right cloud ERP solution needs to take into account BYOD diversity. It must allow staff in the field to have the flexibility and connectivity they need to keep pace with business needs in real time. This is especially true for SMB’s. SMB’s can increase their productivity significantly when they implement a mobile friendly ERP business strategy.

The Critical Factors for Selection

The critical factors for ERP selection are:

  • Define what you are looking for: Identify the problems you want to address and the features and functionality that you want in the solution. Brainstorm with cross functional teams and leaders and arrive at a definition of what you want, your price band, and the functionality before looking for a solution provider.
  • Cost: A solution that can generate a good ROI is the feasible one. Also the price and payment models offered by the solution vendor must be flexible, customizable and scalable.
  • Involving your IT team is important: It’s is very important that your ERP selection team includes all process stakeholder representatives as well as your IT department. Those in leadership positions of company’s critical functions need to play a key role in the selection process.
  • Evaluate key criteria like quality of support, implementation time, security conformance to standards, competence of cloud environment provider, contingency protocol and the level of your involvement required.
  • Ask for referral information, product tours and live demonstrations before you make up your mind. Also it is a good idea to research the firm and the solution on the internet especially feedback from experts, users etc.

Why VersAccounts

We at VersAccounts have created a secure cloud based comprehensive multi-award winning ERP Business Software.

Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions. The VersAccounts ERP is built to be capable, affordable and easy to use.

To know more, please visit www.versaccounts.com or contact us directly.

We’d love to hear from you.

Reference:

https://selecthub.com/enterprise-resource-planning/erp-advantages-and-disadvantages/

 

 

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