From improved operational efficiency to better scalability, there’s a lot more you can achieve from an ERP implementation.
The cloud ERP market is witnessing high growth in sales & marketing due to the increasing number of digital channels and complexities involved in sales channels. As the numbers suggest, the global market growth for ERP is expected to increase at a CAGR of over 8.1% in the next five years.
Is your business having many stand-alone, home-grown IT systems that are highly customizable and do not communicate with each other?
Is your business subject to manual intervention for activities that no longer needs a human support? Well, then it’s time you make a decision to invest in an ERP system.
Cloud deployment in the recent years has opened the door for fast-growing organizations of all sizes, making ERP software available for big and small companies. So, Investing in an ERP system can help you safe costs, increase your efficiencies and improve your deployment timelines by a significant margin.
In this blog, we’ll touch base on 5 steps for a successful ERP Implementation.
- Perform a detailed assessment
The first step you’ll ever have to make in an implementation process is to identify your company needs. Many companies use ERP systems for different purposes, the most common ones being, reduced process time and increased collaboration. So, you can start by documenting key performance indicators you wanted to achieve using the ERP system.
- Choose the right technology partner
The most common challenge businesses usually face in the midst of a transition or implementation is, being bombarded with too many solutions. More often than not, if you are unsure about what you want to achieve through the implementation, you end up paying hefty price for technology that has functionality you may not need.
Note: At DemandDynamics, we eliminate the hassle of having to worry about solutions that are not relevant to your business. Our certified experts perform a thorough assessment of your business needs and suggest you what works best to drive maximum ROI. Also, through our ODS model, you only pay for what you use. (No additional costs)
- Evaluate your ERP solutions
Evaluating the right ERP solution is often overlooked by business which results in below-par experience for businesses post implementation. While there is a lot of investment going into enhancing the business process, it’s crucial to understand which ERP solution fits the business well in the long-run. Whether it is an on-premise solution or a cloud-based solution, it all depends on your business positioning in the industry. You can ask our ERP consultant/expert for advice.
- Cleanse your data
There’s a misconception that implementing an ERP system can improve business conversions in a single go. That’s not true. Remember, the purpose of ERP system is to increase efficiency and productivity. It’s important for you to analyse the data and segregate them for converting them into ERP system.
- Go-live and support beyond
Many service providers/implementation partners consider implementation as the finish line. But, the real puzzle starts post-implementation. Two things a business should keep in mind post implementation is to maintain operational efficiency and application environment efficiency. Most of the business critical problem arises due to lack of understanding of how the system works. So, a detailed run-down of what follows post-implementation has to be communicated to the team.
Here are some of the stats from the manufacturing industry:
According to IDC, around 60% of manufacturing industries will need digital platforms that are estimated to enhance their bottom-line by 30%.
In a 2019 survey of distributors and manufacturers, 67% described their implementations as successful or very successful.
This is just the tip of an ice-berg when it comes to implementing a successful ERP solution for your business. At any point of time in your business, if you have experienced operational inefficiencies but have the urge to scale fast and grow quick, our experts are always available to assist you.