ERP implementation projects require significant investment in terms of both time and resource. This blog lists some of the benefits commonly cited by organisations when contemplating an ERP implementation project. In addition to financial benefits, we discuss some of the other benefits that may be realised.
The ERP application portfolio is becoming increasingly complex, driving the need for businesses to rethink their application integration strategies. Without addressing the integration concerns in a strategic manner, cost and complexity will begin to spiral out of control and any benefit will be quickly eroded. It is estimated that more than half of all ERP projects globally fail to meet their full objectives. Sometimes the technology is to blame, but most often, it is a question of human factors.
With the rapid pace of change in the market and most companies trying to make changes just as quickly to keep up, it’s prudent to think strategically and look for ERP solutions that can continue to support your business as it grows or diversifies. Finding the right system for your organisation means not only addressing the functionality you need today but assessing the functionality for the medium to long term as well.
Upgrading or acquiring a new ERP system undeniably takes a lot of time and money, and the selection phase takes up a significant part of that. The enterprise’s ERP system affects, and therefore needs to cater to, the entire business. There is naturally a considerable amount of pressure on the project team to get it right.
The time to upgrade the ERP system is often a trigger for the business to take a fresh look at how things are done. There’s an obvious benefit to taking advantage of the moment, but the costs and effort involved can be a significant deterrent.
The idea of ERP as a one-stop shop with everything you need in a cost-effective seamless solution is an attractive prospect. But does it really provide everything you need? Or are there other systems out there that could be more valuable to your business?