06 Dec
How to Build a Business Case For a New ERP Solution?
ERP software is a must-have for any company in today's marketplace with its vast range of functionalities and benefits. But a survey found that around 10% of businesses are not using dedicated software to run their business.
In some cases, the reason for not using an ERP solution can be the small size of the firm, but in most cases, it is the lack of a business case.
Here’s how you can build a business case for a new ERP solution.
Point Out Current Issues
The first step in building a case is identifying the areas where your business is lacking. Include the potential benefits that solving the issues can bring to the operation. Ensure that these shortcomings should be ones that introducing ERP software can help solve directly or indirectly.
Highlight the Gains From an ERP System
This is where you shine a light on the capabilities of an ERP solution. Matching each functionality of the software to an issue in the business will add that extra persuasive push to your business case. At the same time, mention the additional services that can help strengthen and expand your business.
Compare Available Options
After displaying the ability and charm of ERP software, it is time to scour the market for possible vendors. Forming a pool of potential candidates based on the characteristics of your business is a critical step. Comparing the available options and recording their pros and cons helps develop a consensus about which vendor to choose.
Estimate Costs and Analyze the ROI
Implementing an ERP system is a capital-intensive task. Having an accurate and detailed estimate of this investment can help manage the finances of your company. At the same time, an ROI analysis will help smooth the pains of this spending by showing the benefits of the system.
Detail the Risks Involved
Any new business undertaking is risky, and implementing a new ERP software naturally has its share of risks. Do not hesitate in recording small and large risks as missing even one can lead to enormous repercussions for the company down the line.
Follow these steps in building your business case for ERP software implementation and create a surefire proposal that can help your business take the next step.
ERP software is a must-have for any company in today's marketplace with its vast range of functionalities and benefits. But a survey found that around 10% of businesses are not using dedicated software to run their business.
In some cases, the reason for not using an ERP solution can be the small size of the firm, but in most cases, it is the lack of a business case.
Here’s how you can build a business case for a new ERP solution.
Point Out Current Issues
The first step in building a case is identifying the areas where your business is lacking. Include the potential benefits that solving the issues can bring to the operation. Ensure that these shortcomings should be ones that introducing ERP software can help solve directly or indirectly.
Highlight the Gains From an ERP System
This is where you shine a light on the capabilities of an ERP solution. Matching each functionality of the software to an issue in the business will add that extra persuasive push to your business case. At the same time, mention the additional services that can help strengthen and expand your business.
Compare Available Options
After displaying the ability and charm of ERP software, it is time to scour the market for possible vendors. Forming a pool of potential candidates based on the characteristics of your business is a critical step. Comparing the available options and recording their pros and cons helps develop a consensus about which vendor to choose.
Estimate Costs and Analyze the ROI
Implementing an ERP system is a capital-intensive task. Having an accurate and detailed estimate of this investment can help manage the finances of your company. At the same time, an ROI analysis will help smooth the pains of this spending by showing the benefits of the system.
Detail the Risks Involved
Any new business undertaking is risky, and implementing a new ERP software naturally has its share of risks. Do not hesitate in recording small and large risks as missing even one can lead to enormous repercussions for the company down the line.
Follow these steps in building your business case for ERP software implementation and create a surefire proposal that can help your business take the next step.
ERP software is a must-have for any company in today's marketplace with its vast range of functionalities and benefits. But a survey found that around 10% of businesses are not using dedicated software to run their business.
