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Essay On ERP

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Selecting and implementing a new ERP solution has traditionally been a long and painful process that most CFOs would prefer never to do again. At the same time much has changed over the years, and things that were painful 10 years ago, may not have the same relevance today. We are in the midst of a technology change to configurable and cloud based solutions, and away from customized on-premise ERP.
Most ERP projects are undertaken in order to reduce costs, improve efficiency of daily operations, improve access to financial information, and move away from outdated, inefficient systems with a lot of manual processes, double entries and cumbersome approval processes.
First, let’s start with a few common pitfalls when selecting and
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Equally essential is to take a structured approach to the selection process. First a method of gathering requirements needs to be developed. In order to ensure an objective decision-making process the criteria and scoring system must be agreed in advance, and a format of the demos and solution presentations need to be decided. It is important to involve relevant stakeholders, and those who will be affected by the project, early in the process. This could mean participating in developing the requirements list and attending vendor demos. Lack of participation by, and input from key stakeholders in the evaluation stage can lead to poor acceptance and user adoption. While it is important to consider the needs of all the stakeholders, one should be weary of getting bogged down with a single individual’s or group’s needs.
2. Technology research
The ERP landscape is rapidly changing. First step in any ERP selection process should be to assess what’s available in the market, and to gain understanding of how technology has changed. Schedule time with vendors especially those who have a reputation for being forward looking and innovative. Take the time to do some demos in order to identify new opportunities for efficiency improvement. The shift away from customization towards configuration is one example of technology changes that you risk losing out, if you think traditionally. Configurable standardized solutions are emerging as
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