As a business scales to serve customers, grow revenue, and increase profits, it will require new tools and technology to get to the next level. To meet new business needs, companies have looked to enterprise resource planning software (ERP) solutions to help connect disparate business applications, automate back-office workflows, and bring greater visibility to operations across the organization.
The most commonly cited reasons for implementing ERP are:
- Building an organization-wide business management system for the first time.
- Replacing an outdated legacy system.
- Projects that require migrating existing on-premise solutions to cloud ERP.
By integrating all business functions into one digital workspace, companies hope to streamline business operations across departments and geographies, improve decision making, and create greater value for themselves and their customers.
However, ERP adoption can be complex and difficult. According to Gartner, ERP initiatives run a risk of failure due to complexity and lack of organizational preparation.
To oversee a successful digital transformation project like an ERP implementation, it’s vital for decision-makers to first determine whether ERP is right for their organization—and then they must decide which ERP is most suitable for their unique business operations.