Your ERP solution is essential to the performance of your business. It can save you time, reduce the need for manual processes, and help create efficiencies throughout your organisation. But from one ERP project to another, these benefits are not always supported to their full potential.
In fact, 60% of ERP projects fail the first time round, whilst only 53% of ERP customers are satisfied with their current system. Often, the reason behind such failures is easy to spot. A few tweaks to the planning process, proper training, and post-launch support can make all the difference to maximising your ERP potential.
So, in this article, we cover expert tips to help you get the most from your ERP and avoid a wasted investment.
1. Choose an ERP that best suits your business’s needs
ERP is a major investment of time and money, so be sure to create a comprehensive list of business (and industry) requirements to maximise your return.
Defining your company’s needs is a key part in ERP success. What functions do you need to operate smoothly as a business? What are your business goals, right now and 5 years down the line? And what are the pain points of your current system? These are just a few questions to ask your stakeholders and wider team.
The point is, you must seriously consider your ERP options and choose the one that supports your business the most. Of course, there are options for customisation, but a solid starting point will give you what’s needed to see value right after deployment.
It’s also important to note that customisation doesn’t have to be done all at once. With NetSuite, you can go live with certain modules respective of what the business needs at that particular moment in time. But as you grow and require further functionality, additional modules can be purchased along the way.
2. Explore the total cost of ownership (TCO)
When deciding on an ERP system, don’t just assess the initial costs for getting things up and running. Comparing the total cost of ownership to the ERP functions will give you a more realistic number to how much value you’re receiving from the investment.
As you compare the costs for different ERP solutions, don’t forget about hardware, consultancy fees, use of internal resources and future upgrade costs that may be attached.
What we’re saying is – don’t make the mistake of choosing an ERP based on its initial costs. You don’t want the hassle of having to double the size of your IT department just to keep things running. That ‘bargain’ may come back to hurt you in the long run.
3. Vet ERP integration partners carefully
Choosing the right ERP partner for your project is worth its weight in gold. They can help give estimates on TCO and the ROI you can expect for your business, helping you create a clear picture of potential ERP value.
Make sure your chosen ERP partner has the necessary experience to deliver on your expectations, with specific knowledge on the industry you operate in. Partnering with a company that has worked alongside similar organisations to yours means that they are likely to have a good understanding of the software needed for a smooth implementation. They can also support you with custom industry features that your business may find extremely beneficial.
Learn more about the importance of your ERP partner in another recent article of ours.
4. Put effort into training and onboarding
When it comes to maximising ERP value, there’s only so much the system can do to support the business by itself. The majority of value comes from is how it’s used by employees on a day-to-day basis. Because of this, you cannot overlook the importance of proper training and onboarding company wide.
If employees are undertrained, they will often fail to take full advantage of what the system has to offer. This leads to system abandonments, resulting in manual workarounds that drain time and resources.
A training programme that’s appropriate to each user’s role within the company will avoid this from happening.
Maximise ERP value with Nolan Business Solutions
At Nolan Business Solutions, we’re committed to providing long term ERP solutions tailored to our customers’ needs. We’re the experts in providing NetSuite and Microsoft Dynamics solutions that help businesses looking to grow.
Our team of accredited ERP experts will develop, deploy and support your implementation from beginning to end, and after. So, if you’re looking to start your ERP implementation journey, we’d love to support you. Contact our team today for more information.