Choosing the right ERP system can be a challenging and complicated endeavor. As is the case with most issues in life and business, there exists no one-size-fits-all solution. There’s only the tool that is properly suited to meet your specific needs.
You’ve likely heard the names—NetSuite, Sage 100cloud, SAP, Epicor, Microsoft Dynamics, Accumatica—and the list goes on, but what differentiates these companies and their products from their competitors?
With dozens of popular options vying for your consideration, it is difficult to decipher which are worthy candidates. This guide will help you in identifying key criteria met by the top ERP solutions on the market.
Maturity of solution
“Here today, gone tomorrow.” Is this a phrase you want associated with your software manufacturer?
In recent years, there have been several new faces entering the business management software space looking to capitalize on increased demand for digital transformation. But are those vendors and their offerings built for longevity?
Mainstays like legacy systems leader SAP and cloud pioneer NetSuite draw from decades of experience helping people streamline and automate business functions under a consolidated system.
A system housing and facilitating critical business transactions needs to be backed by a company with strong infrastructure and a history of successful implementations and client satisfaction, ensuring product support and advancements for years to come.
Flexibility and scalability
Adoption of a new system should address current requirements while helping you prepare for the future.
Is there forecasted growth within your company or future needs for multiple entities or international capabilities? As the market shifts and your business innovates and evolves, your ERP solution must be capable of growing with you.
Increases in the number of companies, users, and transactions may prove challenging to a more rigid on-premise solution, requiring expensive modifications down the line. A flexible and scalable solution allows companies to focus their resources on their businesses rather than on adapting their IT system to their changing demands.
Availability of third-party integration
Integration expands the functionality of your ERP software by seamlessly connecting your existing system with other best-of-breed solutions. However, the portfolio of integrations available varies greatly from one ERP to the next.
A tool that your business relies on heavily may not be capable of easily integrating with a particular system, or it may require extensive and expensive development to implement. It is important to determine whether or not those vital functions and processes can be facilitated by the ERP solution out-of-the-box or if additional work or integration is required.
Product enhancements and developments
Due to rapid technological growth, any product merely adhering to today’s status quo is in danger of becoming obsolete. Choosing an ERP vendor that shows commitment to innovation with a promising product roadmap helps ensure you’re getting the best return on your investment, enhancing your business while giving you the advantage of added features and functionality.