In the previous chapter, you learned to identify your business needs in order to get the right ERP system for your business. Now in the final chapter of ERP implementation series, we will help you find the right ERP vendor.
There are many ERP vendors out there that offer similar solutions. Thus, you must really take your time to find the perfect fit for your business.
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Factors to Consider When Selecting an ERP Vendor
Comparing ERP vendors will be difficult if you have too many selections. So, you should narrow them down to two or three vendors. After that, you can invite each of them to a meeting and provide them with a list of your business and technical requirements.
Here are a few factors that you must consider when comparing one ERP provider to another.
1. The solutions
When you are looking for an ERP vendor, focus on the solutions you are looking for. For example you are looking for boost your sales team product, you can choose sales management software.
You might want to choose a vendor that has years of experience, whose reputation is very good, whose clients are well-known companies. However, the first thing you have to find out is the solutions they offer.
Here are some questions that you should ask:
- Does their system provide solutions to various issues that my business is facing?
- Does their system consist of the modules my business needs?
- Can their system be integrated with my existing systems (if any)?
- Is their system customizable enough to fit my business requirements?
- How user-friendly is their system for non-technical users?
2. The reputation
When you already shortlisting the potential ERP vendors, now let’s browse further about their profiles. You can go through the reviews about them online through search engines or social media. Or, you can ask them directly during the meeting.
Find out who their clients are. More importantly, you should seek out references from businesses that are similar to yours.
You should reach out to the vendors’ clients to hear about their experiences with their ERP systems. From here, you will be able to find out how the potential vendors treat their clients and how their ERP systems work.
By talking directly to vendors’ clients, you will have the opportunity to evaluate. whether the ERP systems you are considering are suitable for your business and whether you should continue to the next stage with the vendors.
3. The support
After finding at least two vendors that meet your criteria, it’s time to compare the types of support they offer. You must be able to ensure that the ERP vendor you choose will completely help you from the requirement analysis to the implementation. After you find out the reputation of the vendor, you can ensure that vendor by the following questions.
These are some questions to think about:
- How long is the warranty period?
- What kind of training do they provide and how long will it take?
- How fast can they respond to my inquiries related to system usage?
- What are the solutions they offer when the ERP system has issues?
- How long will the implementation take?
- How often does the ERP system get updated?
4. The cost
One of the most important factors you should not miss is the cost of the ERP system itself. Additionally, you must ensure that the cost fits your budget.
Tier I ERP providers like SAP and Oracle may have countless experiences in providing ERP solutions, but if their solutions don’t fit your specific business requirements, then they are not worth the money.
However, you should not choose an ERP system merely based on the low price, because you would not own a cheap ERP system with poor functionalities. Thus, instead of comparing prices, try to compare advantages.
5. The value
If you have trouble comparing one vendor with another, then what you have to do is to find out the value offered by each vendor. The value can be the benefits of each vendor that they offer to you. So, when you find out the problems in comparing the vendors, you probably can check the value of each vendor.
Know what differentiates your prospective ERP provider from others. Does their ERP system provide features that other ERP systems don’t? What makes their services better than their competitors?
HashMicro’s ERP system can be used by as many users as possible without the additional fees charged for each user, while most ERP vendors usually charge customers on a per-named-user basis.
Here are some of the benefits of implementing HashMicro’s ERP system compared to other ERP systems:
- The number of users is unlimited
- Free feature and version updates
- In-house software development makes customization a lot easier
- Localized features (especially for tax & insurance management)
- Analytic reporting tools that provide convenience for users to forecast demand & revenue
- Modern, simple, and easy-to-use interface
Erp system implementation is a serious investment. If it turns out that the ERP system is not in line with expectations, then the company has done a wasteful thing because it has spent a lot of time and costs. Therefore, research and comparison are significant to do as an effort to find the right ERP system for your business.
Research what an ERP system is, the benefits for the organization or company, and what modules are in it. Once you understand the ERP system in detail, find out if your business needs it.
Identify the challenges of your business by engaging your entire team and then figure out the solutions your business needs. After knowing your business needs well, look for an ERP provider that offers the solution closest to your requirements. Hash CORE ERP from HashMicro can be your choice regarding the best ERP vendor Singapore. This system provides full packaged solution and support that you company need to make efficent business. There are also 350+ companies using ERP software from HashMicro, which means it has good reputation.
We hope that our guide can help your journey in choosing ERP software that suits your business needs. Contact us here if you have any questions regarding ERP systems or other automated solutions.