How to achieve ERP benfits?
While selecting an ERP system, companies may see about unlimited possibilities in terms of improvements in their businesses. However, somewhere along, many ERP systems do not reach the expectations and the company suffers.
In experiences, aligning of organizations is not a priority for companies during selecting a software. Moreover, companies are very desperate to find a new ERP system fast so that it addresses their pain points and they lose sight of their business goals.
Staying focused on benefits realization is not easy. Therefore we’ve found many strategies which will help companies realize significant benefits from their ERP projects. These strategies are most effective when implemented before or during the selection process.
- Understand Your Current Status – You can realize many business benefits by knowing your pain points in your current system.
- Outline Expected Benefits and ROI – When embarking on ERP projects with clients, we typically help them clarify their overall business goals, so they can determine how ERP software can support these goals. This leads to a discussion about business benefits.
- Ensure Organizational Alignment – Your company needs clearly defined business goals along with project goals.In addition to this they also need an understanding of how they tie together. Everyone, especially executives in the company needs this understanding.
- Develop A Realistic Project Plan – Unrealistic expectations often is one of the main causes of low benefits realization and ERP failure.
- Focus On Change Management – You cannot realise business benefits if the end-users are not ready to use the new ERP software.
- Think Twice About Changing Your Goals – While changing the ERP system all processes, like customization or scope adjustment must be viewed. Also keeping in mind your project goals is necessary.
- Continually Measure Benefits Realisation – Identify gaps between projected and actual benefits throughout the project. This helps managers to understand what they are doing well and how they can improve.
- Continually Improve – If the company is including, focusing on business process management as a part of your ERP projects, you should understand the importance of continuous improvement.
Some more ways by which an ERP system can help our industry grow :
- They can easily integrate with all our application and business management tools. This provides a single platform for all our operations.
- It effectively manages project planning, scheduling, inter department communication, etc. This optimizes all our industrial processes.
- It provides us with detailed project and market analytics for better sales performances.
- It manages various currency, foreign policies and compliance and finances with ease.