Choosing the right ERP software for your business can be a complex task. But you cannot overlook the evaluation procedure at first to maintain business resilience and continuity for years. The only way to adopt this digital transformation is to use effective requirements gathering practices to know everything about what ERP offers.
ERP is a modern, fully integrated software to streamline and automate business processes, which in turn provides better efficiency and responsiveness. As your business will rely on an ERP system to manage all facets, it is necessary to map out your requirements in advance to implement the best solution.
Overview of ERP System
Enterprise Resource Planning (ERP) system uses a seamless user interface and a single version of the truth to align core functions of a business. It supports inventory management, accounting, human resource, order processing, and other processes. It comes with advanced reporting, dashboards, and BI tools that ensure real-time coordination across the organisation.
There are generally two types of deployment choices for ERP software:
On-premises: This traditional deployment option is installed and run on in-house servers. Users are required to pay a license fee and ongoing maintenance charges rather than a subscription.
Cloud-based: Cloud ERP is accessible through the internet and usually provided on a subscription basis, also known as Software-as-a-Service (SaaS). This option has low upfront costs and also automatically updates the system with new releases.
Why Choose Acumatica ERP Software?
Three Ps for ERP Requirements Gathering and Selection
Gathering and shortlisting ERP requirements in advance help you make a rational decision and save you from all the hassle down the road. To select the right ERP for your business needs, take these three Ps into consideration:
People: The primary and important step is to involve the right people to gather ERP requirements. This means select the staff who are future-centric, innovative, and can maintain work-life balance, such as sales and marketing team, supply chain, IT staff, compliance specialists, and customer service.
Processes: The process of ERP implementation should be simpler and more efficient. That’s why it is ideal to navigate best practices and cases to integrate industry-specific solutions to meet your business needs.
Priorities: It is essential to prioritise which modules and features you require in the ERP system to stay focused on your business objectives. Once the team has set the priorities, you will have a clear picture of its desired state.
Acumatica Customer Success Stories
ERP Functional Requirements
This ERP system checklist will help you identify which ERP features and modules are needed to support your business processes. It includes:
Accounting and Financials: This module supports accounting and compliance operations, including general ledger, reporting, AR and AP automation, billing, revenue recognition, and budgeting.
Manufacturing and Distribution: It supports all aspects of manufacturing processes with features like distribution scheduling, quality analysis, and warehouse management.
Human Resource: This module manages all human resource operations for HR staff, employees, and managers, such as onboarding, payroll, taxes, productivity, and more.
Inventory and Order Management: It offers functionality to handle inventory, reduce risk of stockouts, warehouse on different locations, pricing, order entry, and returns.
Supply Chain Management: It includes features like demand forecasting, shipping management, purchase order, and warranty management.
Customer Relationship Management (CRM): It tracks and handles all contacts and customer interactions. It can help capture customer order history, automate marketing campaigns, handle leads, and drive sales quotes.
Business Intelligence and Reporting: This additional layer offers customised dashboards and analytical tools that can help gain valuable insights into overall business performance.
Key Features of Acumatica Cloud ERP
Other Considerations for ERP Selection
Besides modules and features, there are certain requirements to support specific business functions. These include:
Industry Expertise: Does the ERP vendor understand your business requirements and does it deal with similar customers?
Integration: How well does ERP software integrate other applications?
Deployment: Which deployment option makes good sense for your business? Either on-premises or cloud, keeping your resources, budget, and needs in mind.
Training: What training and digital adoption support are available with the software?
Support: How much support does the system need? How much support staff is available for assistance?
Platform and Customisation: How easier is it to customise and develop an up-to-date system?
Ecosystem: Does the ERP vendor have a specialised team to offer implementation and consultation?
Clearly, selecting the right ERP system comes down to understanding what your business requires. At Netsense, we support businesses of all sectors to determine their ERP requirements and help them implement an innovative system that satisfies their needs for today and in the future.
If you require any further assistance for ERP selection and implementation, feel free to contact our experts!