Enterprise resource planning (ERP) software plans are becoming an essential tool for companies in so many industries. These cloud-based software plans are growing at a 9.8 percent rate through 2027.
They’re popular because they offer an all-encompassing way to manage your business activities. Several industries have ERPs that are specifically designed to solve the unique problems that are commonplace.
Here’s what you should know about finding the best ERP software available to your industry.
Find Out The Industry Standard In Your Field
Most industries have an ERP or two that are considered standard-bearers. They’ve been used by countless companies within the field, and professionals have a consensus opinion about the ability of the ERP to handle the required tasks.
Ask others in your industry which they use, and compare notes. Professionals in the manufacturing industry use ERPs like Microsoft Dynamics 365 or Oracle ERP Cloud.
If you’re in the construction industry, you might prefer Sage or Epicor. Research the features of each ERP option and learn how they’ll make you more productive.
Study Your Business’ Requirements
Get to know your company’s requirements so that you can choose an ERP with the right specs. The best ERP for metal industry needs will include modules that let you keep inventory and shop for pricing estimates.
Your business might also have compliance issues that the ERP can help with. Form a committee with the heads of your company and different departments and create a shortlist of the essentials.
Shop Based On The Price
The ERP subscription cost is another factor that can help you choose. It’s not uncommon for companies in certain industries to pay $250,000 or more for initial setup costs.
You also have to account for maintenance fees, which will generally cost you 15 to 20% of what you initially paid. Ask the ERP company for an itemized list of their fees so that you know what you’re paying for.
Compare these costs between about three to five different ERPs before making your decision. Come up with a budget that you can stick to and always make provisions to keep your subscription current.
Get An ERP Trial Run
It’s best to try out an ERP before locking yourself into a contract. Eliminate ERPs from your list that don’t have a trial period – and the longer the trial period, the better.
During the trial, leave no stone unturned when trying out different features and testing the flexibility and proficiency of the software. Check in with your managers and employees to find out how they’re adapting to the software, and any challenges they’ve faced.
Going through a trial also gives you time to deal with the learning curve without having to immediately come out of pocket.
Use The Best ERP Software Available
Your company will thrive when you find the best ERP software that your industry uses. Use these tips and start reaching out to companies that specialize in these software plans.
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