What to know when selecting an ERP system

March 29, 2021 - Research V62

Selecting an ERP system is no small feat. Businesses incur substantial risks when deploying an ERP solution, given the project’s scope and complexity that only increases exponentially with the company’s size. Common issues include cost overruns, delayed implementations stretching into years, and even failed deployments. The benefits of modernizing one’s ERP system still outweigh the costs because of its keystone status within the IT ecosystem. We found, on average, organizations recoup their ERP investments within 16 months. (Nucleus Research t172 – ERP pays for itself—fast – December 2019) There are quite a few considerations a company needs to make during its ERP selection process. We identified four key factors for companies to aid in an ERP decision: business model compatibility, integration capabilities, cloud technology, and overall functionality.