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How Do I Choose the Best ERP for My Business?

Did you know that the global enterprise resource planning software market was worth $42.16 billion in 2021 and is expected to grow to $63.03 billion in 2028? 

Key benefits of ERP software include better customer service, more cost savings, improved inventory costs, and better supply chain management. That doesn’t mean, though, that one ERP solution is necessarily as good as another.

If you don’t have ERP software, you’re missing out. But how do you find the best ERP software for your company? 

Keep reading to learn how to find the right ERP solution for your business.

Consider the Functional Fit for Your Business

You must find an ERP application that is a good functional fit for your business. That means considering different types of ERP software.

You’ll want to consider business requirements, internal processes, other systems that might need to be integrated with your ERP software, and more.

Get a conversation going within your organization to receive feedback from employees, managers, and executives. Whoever will be using the ERP should provide input so that you choose one that’s a good fit for your company.

Consider the Cost

When considering different types of ERP, you’ll need to weigh the costs. They’re available at various price points, so you’re sure to find something within your budget. But one mistake you’ll want to avoid is choosing solely based on cost. 

For instance, if you need ERP for Manufacturing, you’ll want a solution that helps with the manufacturing process. A cheaper, generalized solution will lack the features your business needs. Saving upfront might cost you later.

Getting the right tool means achieving a return on investment — something you might not attain if you find a one-size-fits-all sort of application.

Consider Scalability

As a small business owner, you need to consider your needs now and in the future. So, it’s important to find an ERP solution that can grow along with you.

It should fit your business needs now and include capabilities and features to meet your needs going forward. Not all solutions offer this sort of scalability. Ask questions so you can make an intelligent management decision.

Consider Underlying Technology

You’ll also want to consider the underlying technology of the ERP software you buy. For instance, it’s critical to consider if it can integrate with other systems, if you can customize it if it has built-in security, and if it’s easy to use

Consider Vendor’s Standing

When considering different ERP applications, you’ll also want to research the vendors behind the various solutions. Get answers for questions like:

  • How long has the vendor been in business?
  • How highly regarded are the vendor’s ERP solutions?
  • What’s the size of the customer base?
  • Is the vendor doing well financially?

The last thing you’ll want is to end up with an ERP solution from a vendor that fails to remain a going concern. Your business ownership group needs to do the necessary due diligence to find the right vendor.

Get the Best ERP Software for Your Business

Getting the best ERP software isn’t rocket science. If you follow the abovementioned tips, you’ll be well on your way towards getting the right tool.

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