Best Practices in ERP Optimization
In today's competitive world, companies are employing advanced technologies and techniques to keep themselves ahead. The ability to adapt to change as well as planning, management, and operation are some crucial factors that separate winners from the losers. So, organizations are looking for systems that seamlessly connect customers, manufacturing, financials, and suppliers. The company leaders need systems that create strong bond across the value chain to achieve excellence in all areas of the business. ERP or Enterprise Resource Planning is a technological tool that synchronizes & connected isolated systems in the company, streamline business processes and workflows to bring efficiency.
However, ERP implementation is complex and most of you must have heard about failed installations, unresponsive vendors, and wasted investments. While working closely with the vendor, you can configure and customize the ERP solution to cater to your business needs. Through this blog, we are providing best practices in ERP optimization.
Addressing Business Needs - In order to optimize ERP externally, first of all, you need to understand and identify what your current business and operational objectives. You also need to name future objectives supported by measurable outcomes.
Evaluate Your Existing ERP - In the evaluation process, you need to document the modules placed in your existing ERP. You need to recognize which modules fall short of expectations. During the evaluation, you need to find out the answers of the following questions:-
Is the deficiency about client data security?
Is it about compliance?
Is there protected data involved?
Does the disbursement/ test result/ product change require signatures from stakeholders?
Is there an audit requirement?
Evaluate Add-ons - Add-ons are the supplement to your existing system. You need to check whether add-ons are solving the purpose for which they are intended.
Identify a baseline - Identify precisely the functioning of your business while collecting proper metrics for a reliable comparison later.
Prioritize Objectives - After identifying your goals, you need to prioritize them. The plan and carry out your objectives based on the value given to targets.
The companies which valued their ERP systems make the investment of time and money to transform their ERP systems into a strategic tool that streamlines applications and business processes seamlessly. Though ERP is not a magic tool that transforms everything overnight, yet over time, it enables organizations to become more agile and responsive to customer’s needs.