Keys to True ERP Success
Making the decision to invest in any business solution is a huge undertaking. Business solutions such as enterprise resource planning (ERP) are not cheap and often require extensive amounts of time and effort to get up and running; however, the right solution has the potential to completely transform your business processes and spur on financial growth for years to come. Businesses all around the world are using ERP software to streamline their daily tasks, improve efficiency, increase productivity, and improve profitability. Many businesses, however, have difficulty reaching the levels of success they set forth prior to implementing ERP software. While the benefits of ERP can be felt all across the business (in the office, on the manufacturing floor, and even in the sales department), many companies struggle with obtaining true business value.
ERP is worth the investment, as long as you put in the required time and effort to achieve true success. Before you can even begin to measure whether or not your ERP implementation was successful, you have to be able to define what ERP success means for your business. How do you define ERP success? Does true success require you to meet a list of improvements by a certain deadline? Does success mean the finalization of the project? Understanding what success means to your company prior to implementing your ERP solution will not only help you better utilize the software, but it will also help you know what to measure in terms of the return on investment (ROI).
We’ve provided a few tips below to help you define true ERP success for your business:
- Define your ERP goals
Defining your goals for your ERP project prior to implementing the system will better equip you to measure your success. By knowing what you are looking for, you can ensure that you are measuring the right variables and get the right answers to your questions.
- Have a realistic financial return on investment
For the majority of businesses, success is synonymous for profitable return on investment. Write down your financial savings expectations prior to implementing the software and measure your progress as the project unfold. Don’t expect your ERP system to save your company millions of dollars in returns overnight; it won’t happen. Be realistic about your goals and remember that even a few dollars is a substantial amount of savings.
- Acknowledge the benefits of the system
Are your employees less stressed (and dare we say happier) with the new software? Are your operations running more smoothly? Is your efficiency improving? When combined with a significant financial return on investment, all of these things are indicators of ERP’s success.
The meaning of success means something different to every individual and company, so make sure you determine what your measures for success are prior to implementing the system. Keep in mind that the average ERP software implementation takes time, and you won’t see results immediately. Give yourself – and your software – time to get acclimated. Look at the project as a marathon rather than a sprint and treat every step with care. This attention to detail will ensure that your ERP software implementation is a true success for years to come.
If you are in the market for ERP software, give one of our enterprise resource planning experts a call today at (866) 990-3994. We’d be more than happy to discuss your situation and set you up with a solution to help you succeed.
Are you looking to get more out of your ERP investment? Download our whitepaper, “Tips for Maximizing the Return on Your ERP Investment”. It is packed full of tips to help you get the most out of your ERP software, as well as helpful information on defining success for your company.