Selection of an ERP system

While implementing a major software such as ERP to the company’s process, we do realize that, a lot of research and time needs to be invested.
Implementing an ERP starts with installation of a software followed by migrating your financial data to the new system, user and process configuration and training users for the new software.
But, before we start the implementation, it’s necessary to first select the right ERP system partner, which is as important task as the whole implementation process.
Once the right software is chosen, it will be quite overwhelming to implement ERP, providing you the best solution.

Learn the selection of right ERP system to increase the chances of achieving your business goals

The right ERP system is expected to provide effective results by infusing simplified operation, easy-to-use functionality, real-time insights of the business along with complete security and adaptability to changes as per company needs.
Before we get to the selection process let us see the type of industry.
There are three types of companies in the industry depending on the size of the organization.

1. Small EnterpriseStart-ups are small sized enterprises that are accumulating resources and executing plans to grow into an proper enterprise.They have many complex processes which are same as the enterprises larger than their size and also their margin of error is much less.It’s generally a business with not more than 50 or 100 employees. So their requirements differ quite massively from mid and large sized enterprises.

1. Medium EnterpriseMedium size enterprise can be considered as the upgraded version of a start-up company.It’s generally a business that comprises about 100 to 500 employees.It’s process
  Is more complex than the start-up ones but less complex than the mega sized enterprise.

Small and Medium enterprises are collectively known as SMEs.

Large size EnterpriseLarge size associations have a number of departments, workers and along with these much more complexity.Mega sized enterprises generally comprises about more than 500 employees.

These 3 different types of enterprises have different requirements of ERP, so their parameters for selection differ from one another.

“Whether you are a SME or a mega size enterprise, with growing advancements in technology, competition in the market is getting tougher and tougher every day for every organization irrespective of its size.”

Every ERP project is a unique one therefore needs a predetermined approach. Many do not find this of much significance till they have already implemented the system.
We at ChiefEx are experienced to serve the above mentioned industries.
We practise the following major steps to meet our customers requirements and must be implied by every industry before the implementation of ERP.
Process of selection
As we stay focussed and alert with the major projects, let us proceed further similarly one step at a time. This will reduce the chances of any ERP failures in the organization.

1. Discover scope and end objectives.
  - - Determine the goals along with the vision and scope revolving around the goals.
  - - Evaluate the possible risks associated with the objectives.
  - - Address the major problems associated with the end outcome.
  - - If you are not clear about the goals and objectives you want to achieve then you will face a tough time in acquiring the required result.So make a complete chart of what you wanna achieve with the implementation.
2. Selection of ERP system.
  - - After all the calculative measures are over the most important part is the selection of the right ERP system.
  - - Do not blindly opt for your competitors ERP system just because they have seen a good growth with the system. It might or might not work for your organization. Do a proper analysis.
  - - Organizations also need to make decisions whether they need to opt for Cloud ERP or On-premise ERP system.
  - - They also need to select the type of cloud for the organization that is Private cloud or Public cloud depending on the requirements.
  - Study your organization objectives and take the decision accordingly.

According to panorama ERP study, 21% of the business do not achieve the required result as expected.
Selection of the ERP system without proper knowledge is one of the reasons that enterprises are not able to meet their required goals.

Planning and monitoring.
- - Plan every aspect of the implementation process along with developing a strategy to complete the work smoothly.
- - Monitor your work and if needed make necessary changes accordingly.
- - This needs to be followed at every stage of the ERP selection process.
Implementing strategy.
- - After building the strategy the next step is to implement it to the process.
- - Ensuring that it meets the clients expectations and is ready for deployment.
Deployment process.
- - This is the part where all the required tests are to be performed to ensure the ERP is ready for deployment.
- - The tests cover technical, functional aspects and also ensures the acceptance of the user.
- - Once the acceptance of the user is received migration of data is initiated and then the software is ready for the final step.
Making it live.
- - As we are done with the deployment process, it’s time to take all your data online.
- - This provides you access to the entire project details in real-time from any platform anywhere and anytime.

ChiefEx does complete research of the enterprise structure and their goals , providing the solution accordingly based on the researched data report.