Many businesses in Singapore adopt ERP systems like Oracle ERP to improve efficiency and gain a competitive edge. These platforms integrate departments into one system, providing visibility into resources while optimizing processes, enhancing productivity, and supporting informed decision-making.
Implementing Oracle ERP, however, is not simple. Success depends less on the software itself and more on careful planning, proven best practices, and strong execution. In this article, I’ll walk you through the best practices businesses should follow when implementing Oracle ERP.
Key Takeaways
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What is Oracle ERP?
First of all, Oracle is an abbreviation for Operator and Cloud-based software. Oracle ERP is a type of software system that can effectively integrate different departments and functions of a business into one centralized platform. This system provides a comprehensive view of the resources, allowing businesses to enhance their operations, decision-making processes, and overall efficiency.
Oracle ERP is utilized by businesses of all sizes in multiple industries as it is a crucial tool in managing inventory, supply chain, financial, human resource processes, and more. However, implementing one in your business is not an easy feat. For that, you need to know the tips and tricks when implementing the ERP system for your business.
Oracle ERP Best Practices
Implementing an Oracle ERP system is a complex and time-consuming process that requires careful planning and execution. Therefore to ensure the success of the implementation, it is essential to understand and follow these best practices that have been developed over time by industry experts and practitioners.
Forming a project team
Forming a robust project team is crucial to ensure the successful implementation of Oracle ERP. This project team should consist of representatives from critical business units who possess a thorough understanding of business procedures and strong interpersonal skills, who are esteemed by senior management. Other than that, the team should establish the overall objectives, specifications, and performance indicators for the business project.
Clearing KPI requirements
It is important for a business to have a well-defined objective for the Oracle ERP implementation. This involves setting clear and specific requirements that are in line with the business objectives. You need to evaluate how each business process can be enhanced to achieve your goals. Once you have a comprehensive understanding, identify particular KPIs (Key Performance Indicators) that will help you monitor and evaluate the progress and success of your ERP implementation.
Selecting the right Oracle ERP provider
Carefully selecting the right Oracle ERP system implementation partner is critical in achieving a successful implementation of your system. This involves in-depth researching and selecting a partner. This provider partner should both possess relevant industry expertise and experience and share your business’s values and goals. For that, it is recommended to utilize HashMicro’s Oracle ERP system as it has expertise and experience in various industries.
Collecting feedback
In order to ensure a seamless implementation process, it is important to gather feedback from end-users at every stage. Doing so will provide insight into how employees in your business work, interact, and overcome daily challenges early on. Additionally, the feedback can inform the Oracle ERP implementation process to ensure that the system meets the real needs of users.
Ensuring data safety
It is crucial to begin assessing the accuracy of your business data early on to guarantee its safety. After all, the precision and thoroughness of your central data have a significant impact on the success of your business, including end-user training and testing throughout all stages of the implementation. In addition, you should establish consistent definitions and formats for your data and ensure uniformity in data practices across all departments before transferring data.
Planning change management
By devising an efficient change management plan, a business can adjust to the Oracle ERP system swiftly and more successfully. This efficient change management plan includes formulating a strategy for communicating with stakeholders and conveying the impending changes along with persuasive justifications. However, to achieve this, it is crucial to establish realistic expectations early on in the implementation phase.
Asking for training and support
Implementing an Oracle ERP system requires a robust training and support system for your business’s employees. It is crucial to have reliable support as employees may encounter difficulties and need assistance. A continuous training program designed based on the roles of the employees is also important to equip them with the necessary skills and knowledge. This is why when implementing the system, you should ask for training and support.
One of the Oracle ERP systems that provide training programs and support systems is HashMicro’s ERP system, Hash CORE ERP. HashMicro’s team consists of both business and technology experts who are available to provide complete support to our clients. This team will be pleased to offer their assistance in any way possible.
The Right Oracle ERP to Choose
With Hash CORE ERP, achieving million-dollar sales is not impossible for businesses, as the system can streamline business processes efficiently. Businesses can also keep track of their sales performance and make data-driven decisions to improve their marketing strategies. In addition, businesses can also manage their finances effectively. This is done by saving time and generating accurate financial statements with the centralized system Hash CORE ERP.
Conclusion
Oracle ERP is a popular system in Singapore that businesses use to increase efficiency and gain an advantage in a competitive market. However, implementation of this system requires careful planning and execution. As such, following the best practices above can definitely help you. Choosing the best ERP software is as important as choosing the best practices.
HashMicro’s Hash CORE ERP is well-known and trusted in Singapore as it offers solutions and helps businesses achieve success. Most importantly, it has affordable prices and you can claim a Productivity Solutions Grant with the right qualifications. For more information along with a free demo of the system, you can kindly contact us here. Get started today – Try the free demo for yourself now!
FAQ about Oracle ERP
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Is Oracle EBS ERP or CRM?
Oracle E-Business Suite (EBS) is primarily an ERP system, but it also includes CRM components. This makes it a comprehensive suite covering finance, supply chain, HR, and customer relationship management in one platform.
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What is the difference between SAP and ERP?
SAP is a company that develops ERP systems, while ERP is the broader concept of software that integrates business processes. In other words, SAP is a vendor, and ERP is the type of system they provide.
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Who uses Oracle ERP?
Oracle ERP is used by businesses across industries, from manufacturing and retail to finance and education. It is especially common in larger enterprises that need complex, global operations managed in a centralized system.
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What are Oracle ERP modules?
Oracle ERP offers modules for financial management, procurement, project management, risk management, supply chain, and more. Companies can choose the modules that fit their needs and integrate them for a full business solution.
