How to Successfully Implement ERP and Grow [Infographic]
Deploying an Enterprise Resource Planning (ERP) system can help consolidate disparate systems, modernize your IT database infrastructure and provide better reporting and analytics tools across your organization. While this new system will ultimately help your company grow, it is in no doubt a large IT investment.
Aberdeen’s report, “The CIO’s Guide to Living with ERP,” highlights both the challenges and benefits in the ERP implementation process. The following infographic provides insight as to how "Best-in-Class" companies implement ERP systems and how they benefit from it.
- Make sure IT does not handle it alone. In contrast to organizations that are considered the "Industry Average" and "Laggard," companies in the Best-in-Class category are much more likely to include senior management and cross functional teams from other departments in the ERP implementation process. This is because joint accountability from business managers and IT managers lead to more efficient modernization.
- Measure the impact of ERP on operational performance. If you want to follow in the footsteps of top companies, you'll want to measure things like ROI for ERP projects and Time to Value. In the study, 67% of Best-in-Class companies surveyed measured quantifiable business benefits resulting from overall implementation of ERP, as opposed to 28% of Industry Average companies and 10% of laggard companies.
- Align your MDM (Master Data Management) with your ERP system. Best-in-Class companies are over twice as likely to align their MDM strategy with their ERP strategy. They also have the tools to maintain their data quality.
The Aberdeen study quoted the CFO of a Mid-size Metal Products Manufacturer who had this to say about ERP implementation:
“We have eliminated over a dozen disjointed databases and provided ‘one version of the truth’ to everybody that needs it. For the first time ever, we have real-time inventory information, a better handle on factory performance and a system that provides accountability via production and budgetary performance.”
Become a Best-in-Class company yourself, learn more about cloud ERP today.