ERP Selection Framework

Is your organisation considering moving to an ERP solution? If so get in touch, we have experience working with a variety of ERPs so are perfectly placed to help.

 

Are inefficient processes making it difficult for your finance team to keep up with your businesses fast paced growth? Does your business operate across numerous currency zones? Have you lost faith in your month end consolidation process?

If you are answering yes to these questions then you should talk to us about the benefits your business will realise from investing in an ERP system. If you believe an ERP will provide sufficient ROI the question is which ERP will be the best fit for your business?

At Coras we have worked with and implemented a variety of finance systems and ERPs making us perfectly placed to advise you on your ERP selection. Some of the ERPs we have experience with include:

  • NetSuite
  • Oracle Fusion
  • Microsoft Dynamics
  • SAP
  • Acumatica

Some of the steps in an ERP selection process are:

 

Assess Business Needs and Requirements

  • Conduct a Needs Analysis: Identify the pain points, inefficiencies, and specific requirements of each department.
  • Define Objectives: Establish clear goals for the ERP implementation, such as improving efficiency, scalability, or integration capabilities.
 

Develop a Requirements Checklist:

  • Create a Detailed RFP (Request for Proposal): Outline the technical, functional, and operational requirements of the ERP system.
  • Prioritise Features: Rank the features based on their importance to the organization.
 
 

Define Current Processes:

  • Process Mapping: It will help develop requirements to fully understand your current processes before implementing an ERP.
  • Process Documentation: Key processes should be fully documented to help select and design a new ERP.
 
 
Request for Proposals (RFPs):
 
  • Send RFPs to Shortlisted Vendors: Provide them with your requirements checklist and ask for detailed proposals.
  • Evaluate Proposals: Assess the proposals based on criteria like functionality, cost, implementation timeline, support, and vendor reputation.

 

Vendor Selection:

  • Select a Vendor: Based on the evaluations, select the vendor that best meets your requirements.
  • Negotiate Terms: Negotiate the contract terms, including pricing, service level agreements, and implementation timelines.

 

We understand that selecting an ERP can be a very difficult task especially if you haven’t it before. It is likely the biggest non staff cost in your finance cost centre and it can underpin the success of your finance team for many years to come. At Coras we know ERPs inside out, so get in touch to speak with one of our consultants who can help with the selection process. If you are an SME looking at an ERP out post comparing Microsoft Dynamics Business Central and NetSuite might help.

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