THE ERP DECISION
Implementing a new or replacement Enterprise Resource Planning (ERP) system is not always an easy decision. Many factors have to be considered, including:
- How ERP will help the business grow
- How ERP will improve business processes and existing technology
- Who in the company will lead the ERP project
- What ERP system is best for the business
- What ERP vendor provides the best solution
- How long the implementation will take
- ROI calculations
THE ROI ON ERP
On average companies that implement ERP see a return of $7+ dollars for every dollar they spend on the project. (Nucleus Research 2014) To see the best return on investment business leaders need to consider the key factors to ERP Project Success. Learn more about these key factors.
A comprehensive ERP system offers reliable insights regarding an organization’s performance. These insights are gleaned from one main company database that is easily accessible. The information available through ERP software helps company leaders identify strengths and weaknesses and make better business decisions. ERP helps business leaders forecast and plan for a better, more profitable future. This is arguably the most valuable aspect of implementing ERP software.
ERP also saves businesses time and money through automation and more efficient processes. When first considering an ERP system it can be difficult to see the potential for increased profit and reduced spending given the price tag associated with an ERP Project.
Mark Jeffery, research director of technology initiatives at the Kellogg School of Management explains the benefits of ERP well: