Enterprise Resource Management (ERP) software has found its use in diverse business ventures. The wide spread use of ERP software is because of its versatile applicability in fields that cover marketing to shipping and management of inventory. For a product that is known for its applicability, choosing the right one to fit the needs of your company is crucial. Four questions to ask before you choose the ERP software are:
1. What is the cost? Cost is an important deciding variable. There is a price range for ERP software that often exhibits disparity. The overall cost of the software is determined by the nature of industry, software installation and implementation, the number of people who have access to it, and third party add in’s. While estimating the cost of the ERP software these factors must be included to get a true value. There are software’s available that fit every budget. Once the budget is narrowed down, further comparison of the choices available in the given price range must be made.
2. Can it be customized? With this software the concept of ‘one-size-fits-all’ is not applicable. Although business, an overview, has similar functionality and operations, the soul of every venture is unique. Choose software that offers distinct flexibility. It will not be an issue if the features that you are seeking are few or many so as long as the platform can be molded to fit your business requirement.
3. What is the platform’s life expectancy? Although, technology comes with a limited shelf life, it should still carry the supportive framework for any future advancement. A process or regulatory format may witness a transformation in a few years and when that happens if the ERP program that is installed is incapable of adapting to change, it is huge loss. Instead, when you have software that can support the growing needs of the company; an economically viable option is presented.
4. What is the offered level of security? Software security is one of the prime concerns in the present age of digital dominance. The focus is further concentrated on security when the company deals with exchange and storage of sensitive information. Although, ERP offers improved protection during data recovery, problems are faced when security is not considered. It is thus wise to analyze the measures taken by the vendor to maintain the secrecy of the information. Data encryption, user log-in tracking and inventory transaction must be sought.