Are you considering implementing an ERP (Enterprise Resource Planning) system for your business? Or perhaps you recently switched over to an ERP system, but are struggling to fully utilize it. By teaming up with an ERP implementation specialist, you can get the most out of your system and maximize your return on investment.
What are some of the key benefits of an ERP system?
ERP systems, such as NetSuite, are cloud-based software systems that connect with every moving part of your company, from manufacturing/logistics to accounting to HR to service to sales. NetSuite and similar systems streamline processes from sales to delivery to invoicing. The same master data is shared across multiple functions, allowing for efficiencies through automation and elimination of redundant tasks such as inputting customer or product information. Systems like Net-Suite allow you to efficiently track and manage what is happening within your organization, enabling more informed decision-making. For instance, you can gain timely insights into which product lines are most profitable or where inventory is lagging behind customer demand. Another benefit is scalability. An ERP system can easily be adapted to accommodate company growth, new products and other changes over time.
What are the challenges with implementing an ERP system?
Many companies hesitate to implement an ERP system because the prospect is so overwhelming. It requires asignificant investment of time, finances and manpower, and its complexity makes it difficult for business leaders who lack experience with this type of system to fully appreciate its capabilities and how it will benefit their company. Further, when implementing a system, issues and unexpected roadblocks can arise when migrating data and integrating your legacy system with the ERP system.
How can you mitigate these issues?
Many ERP concerns can be mitigated by partnering with an ERP expert to customize and implement your ERP system. An ERP specialist, who will liaise between your company and the software development company, will bring extensive knowledge and experience working with various ERP systems to your project. This professional will partner with you to create a strategic plan that aligns with your business goals. Experienced ERP specialists are familiar with various customization options and have the technical expertise to configure ERP modules, workflows and processes to match your unique business requirements.
Further, having an ERP expert on board increases your chances of identifying potential risks with implementation early on and developing mitigation strategies. These experts can collaborate with the development team to troubleshoot problems, minimizing downtime and ensuring the project stays on track.
The ERP specialist will provide you with a roadmap for implementation. This includes tiering your objectives in terms of priority, developing a phased approach to ensure a smoother implementation process and performing tests at various junctures to reduce the risk of errors or misconfigurations.
As you would expect, implementing an ERP system will involve changes in business processes and workflows. ERP experts can guide you through change management strategies, helping employees adapt to the new system smoothly.
What if you have already implemented an ERP system but are struggling to optimize it?
If you have already implemented an ERP system, it’s not too late to engage with an ERP specialist to optimize functionality. For instance, are you having pain points with your financial reporting or with getting timely information in the format you need? Do you find you’re posting the same number of entries at month’s end as before? An ERP specialist can help you get the information you need into the system to streamline your financial reporting, reduce monthly entries and maximize functionality. Further, an ERP specialist can train your teams to make sure they understand what the ERP system can do and what their role is. By leveraging the expertise of an ERP expert, you can maximize the return on investment of your system.
Written by Alanna Abreu. Originally published by Long Island Business News.