How To Choose The Right ERP Solution In 2021
With hundreds and thousands of ERP Solutions flooding the market, enterprises are often prompted with the most complex question- Which ERP to opt for?
After carefully studying market trends and figuring out underlying loopholes, we bring to you this blog that is the shortest complete guide for making the perfect decision in 2021. Are you ready to pat yourself on your back for taking an excellent decision? Let’s begin
Why do businesses need an ERP Solution?
ERP streamlines and automates processes across all departments and interconnects them. The chief functionality of ERP is to incorporate business processes and cycles into an integrated unified platform across multiple departments.
Statistics on ERP return on investment (ROI) highlight the benefits of the technology.
- The top three business goals(opens in a new tab) cited for implementation are achieving cost savings (46%), improving performance metrics (46%), and improved efficiencies in business transactions (40%).
- When asked to select areas where ERP produced ROI(opens in a new tab), the top three answers were reduced IT costs (40%), reduced inventory levels (38%), and reduced cycle time (35%).
- For midsize companies—revenue under $1 billion—the cost of owning an ERP system is approximately 3-5% of annual revenue(
- ERP implementation led to business process improvement for 95% of businesses
- Manufacturing companies are the No. 1 user of ERP software
An expertly curated guide for choosing ERP in 2021:
Thoroughly analyze all various departments of your company and note down your requirements.
Your workforce defines the success of your company, so make sure to consider their opinions. While department heads can help you, you must also ask end-users what they need. Budgeting is very, very important, especially for technology staff.
Decide whether your business needs an on-premise ERP or a cloud-based ERP Solution.
Compare the pros and cons and then you will understand what suits your business the best. Including an industry-specific solution is the best thing you can do for your business.
Give enough time to your implementation team to learn and implement the solution.
Your implementation team has to get comfortable, and you must guide them. Communication among all departments is the key ingredient. Only when you communicate will you understand what changes need to be made.
Keep your maintenance plan ready.
A good maintenance plan will ensure a smooth workflow and will save your business from process constraints.
Note: Customization is the key! Only a customizable ERP Solution can adapt to your business needs and optimize objectives. Pay maximum attention to understanding your business needs. Take into consideration suggestions from all departments and all workforce. Only when you know your exact needs can you select an ERP solution that fits into your business and help you grow.
RexoERP- 2021’s most flexible, scalable and customizable software
RexoERP efficiently enables business transformation through maximised organizational agility. As it caters specifically to the business needs, it helps small and mid-sized businesses to track and tap the scope of growth.
Its robust architecture and framework allow high-level customization, thus helping reduce operational and admin costs by approx. 23% and accelerate business processes by 95%. It also helps companies utilize resources better and elevate customer satisfaction.
It offers innovative solutions to enable and empower business growth in several ways. Businesses can gain a competitive advantage through technology in terms of increased growth and revenue.
Not only does it help businesses attain efficiency in various ways, but it also drives businesses towards crucial decision-making trends and AI-based data-driven approaches.
Click here to learn how RexoERP can take your organization to the next level. Know about how to manage your business with Rexo ERP!