Enterprise Resource Planning (ERP) systems like Netsuite are invaluable products if one aims at running an efficient and well-organised business. Before purchasing such a solution, it is more than recommended that extensive research should be carried out. But if you strive to make a well-informed decision, you should examine ERP’s pros and cons strictly in reference to your business. ERPs have a highly customisable, modular structure, which makes them far more flexible in terms of what organisations can use them. Despite that, you should still go through our checklist and attempt to answer the questions below to find out whether your company needs an ERP now, and what to expect from its implementation.
What are your perspectives on growth?
ERP is a salient management tool regardless of the size of the organisation. Still, one should bear in mind that implementing such a system in a small company, where there is little data to be stored and business software to be unified is a step that is preliminarily a preparation for future development. However, if you are expecting growth, ERP will help you to take advantage of it in every way you can. This means fewer missed opportunities and elimination of growing pains, which can often bitter the taste of success.
Most ERPs, Netsuite included, have a modular structure. This means that you can select features you wish to purchase and match them not only with your company’s current urges but also with its perspectives for the future. Be sure to share those plans with the ERP vendor before configuring the final product. Then, the software will be bespoke and address the business’ issues, and them exclusively.
Do you have to lower the costs?
This one seems a little tricky. ERP is, after all, a major investment. A high price tag is always a scare. Remember, though, that it all comes down to the return on investment. In the case of NetSuite, or any quality ERP, such return is terrific.
Therefore, savings are brought into the company two-fold: First, by increasing efficiency and generating profit, which occurs due to ERP streamlining business processes. Because of the improved connectivity and common database, many tasks are automated, a tremendous amount of information is available at-hand and across departments, all of which frees users to perform directly profit-orientated tasks and allows executives to make faster and better-informed decisions.
Furthermore, after implementing ERP IT costs go down drastically. This happens because the business software is unified. You don’t need teams dedicated to operating on one software, simply because they are unable to use any other. Now each one of your employees can operate in many fields, which improves collaboration and allows for the flow of the workforce. Not only is the staff more versatile- the amount of time and money that is
being saved as you only have to organise one staff training, not one for each business software, is also significant.
What functionalities will you use?
As you may know by now, ERP should allow you to choose features of the system you want to utilise in your business. A system that lacks some of the applications you might need is a pointless investment. Moreover, purchasing software that exceeds the needs of the organisation is essentially a waste of resources and its costs could outweigh the ROI.
That is why, first of all, you will be far better off by selecting a customisable software (among other Netsuite). Then, it is time to consider which apps are going to be of value in your company- whether it is only one, or all of those offered by vendors. Again, thinking in perspective is pivotal: it is not about your needs at present, but about what they might evolve to be if the development of your enterprises goes as anticipated.
What problems will implementing ERP help you solve?
ERP is meant to be a solution to certain issues troubling your business. Therefore, to find how urgently you need such a system all burning issues and spaces for improvement have to be identified. Here are a few most common areas in which ERP proves irreplaceable: First, mechanical tasks like completing and searching through spreadsheets. Probably the biggest nightmare among white-collar workers, spreadsheet tasks like monitoring inventory levels or entering information are not only extremely time-consuming. They also drain the creative energy employees could use on profit-generating activities. Automation of the mentioned process also eliminates human error, which is an easy way for improving efficiency. This feature of the ERPs plays a particularly big role if a business is dealing with a tremendous amount of data.
If you have a feeling that your company could use “new blood”, and that current staff creative output is not satisfying anymore, ERP could be a solution. It seems unlikely, (creativity is one of few things in which humans still beat machines) but a common database allows for more extensive collaboration between departments. As virtually everyone can have access to all necessary data at once, there are no more isolated silos of workers, and insights about a particular issue can come from all branches of the business.
What is the level of your customer service?
If a company is struggling with providing top-notch customer service, it should consider investing in an ERP. The software most often includes CRM: Customer Relations Management. It is invaluable if you want to address your clients' needs most effectively. One of its most useful features is that it helps you compile an all-round profile of the given customer, with their purchase history and other relevant information. This allows your representatives to better understand the other party’s expectations. Additionally, an easily accessible database that stores all of the customer information in one place makes grounds for quick and satisfactory problem-solving. Your client will appreciate the haste with which you responded to their issue.
Automation of time-consuming tasks across departments allows employees to focus on establishing and nurturing relationships with partners. Remember that by taking care of a client you take care of yourself even more. While for them, you are just one of the possible vendors, their opinion about your work means a lot for the prosperity of your company.
