4 Selection Criteria for the Right ERP Solution

One of our previous postsindicated a more strategic point of view on identifying the key reasonswhy an organization should invest in an ERP solution. Now, lets evaluate the key options or selection criteriabased on which your company could select the right ERP Solution and which would best fit your needs.

Following are key considerations or criteria that the top management, along with the business heads, should evaluate, to find the Right ERP Solution. There are numerous options out in the market, from top tier solutions, to mid tier options, custom solutions, locally developed low key solutions. However, teams would remain confused about the right ERP Solution unless the following clarity is available:

What is the key goal behind using an ERP Solution?

More often than not, the organization fails to identify the key objective which they want to achieve through the implementation of an enterprise application. Change management failureresults when the management does not identify itsvision. With a clear objective and vision, finding the right ERP solution becomes easier.

For example, better customer management, and better process controls will result in two extraordinarily different ERP choices.

What are the key processes that warrant an ERP Solution?

The right ERP Solution will bring about a significant change within the organization. For that, it is important to identify the key processes that require an ERP Solution. This is well tied with the key goals as well. Goals will guide you tothe major processes that need changes; based on whichyou would find the right fit in the several ERP solutions available in the market. While each business unit head would come up with their own list of requirements that they want fulfilled, key goals and processes should be a good benchmark for the extent of requirements and changes required.

What are the key Functional Requirements required from theERP Solution?

While processes and goals indicate the key requirements from the major functionality of the ERPSolution; functional requirements would indicate the primary specifications from this solution. Any requirements that are specific to your company, such as reports or print formats, any taxation specific elements (in case of an off the shelf solution), any process or workflow related requirements, all become key to the selection of the right ERP Solution.

What are the current trends and scalability options within the ERP Solutions Market?

Within the market, it is important to observe the key trends to find the right ERP solution. Current trends and focused research would help to identify where the market is going, and whichsolutions are performing well. Since this is going to be a major investment in an intangible asset, it is important to find out options that are scalable and which would work for the long term, for the organization.