1. ERP selection: Strategic objective of the company
- This is by far the most important criteria to consider. Acquiring an ERP is a decision that can impact companies for many years and sometimes a few decades.
- Are you a 7-figures earning company who wants to become a billion dollar one?
- Do you want to go to market faster? Do you want to double your annual production output?
2. Industry best-practices
If you want to stay ahead of the competition in your industry, there is no denying that you need to stay current with the best-practices tools that ensure that you keep a competitive edge.
3. ERP maintenance and update cost
Given that acquiring an ERP is a long-term business decision, please consider the following:
- the cost of keeping the ERP running
- do you want to maintain it in-house or outsource
- the cost of implementing new releases of the software
4. ERP implementation budget
Implementation and license costs can vary greatly. You need to know if there is a threshold that you do not want to exceed. However, do not forget that this is a strategic, multi-year decision that you take. Therefore, price is a very important criteria but should neither be the first nor the only one to take into account.
5. ERP implementation partners
It is very important to choose the right implementation partners for your ERP. The composition of the ERP implementation team is very flexible. You can choose one or many value-added resellers which are recognized by the company owning the ERP (SAP, Oracle, Microsoft,etc). You can also team up with independent experts of the technology.
The important factors to think about are mainly the following:
- experience of the implementation team with the ERP
- knowledge of the ERP implementation team
- existing client references within your industry or your geography