Infor The 5 Point Plan To ERP Selection

Topics: Enterprise resource planning, Supply chain management, Customer service Pages: 13 (4743 words) Published: December 3, 2014
ERP WHITE PAPER

The 5 Point Plan to ERP
Selection Success
Think differently about what you need and
who you purchase it from

Table of contents
Why you need a new system: Figuring out your business drivers........................................................................... 3 What do you want to accomplish: Establishing your ERP strategy........................................................................... 5 What you need from your software: Determining your priorities............................................................................... 7 What it will really cost you: Calculating the total cost of ownership........................................................................10 Who do you turn to: Choosing the right vendor..............................................................................................................10

Infor is in no way committing to the development or delivery of any specified enhancement, upgrade, product or functionality. See “disclaimer” paragraph contained herein.

INFOR10 ERP > WHITE PAPER

2

Why you need a new system: Figuring out
your business drivers.
These days, an ERP system is a necessity—not a luxury. You need a system that helps you operate and manage your business. But what else do you need it to do? Former Gartner analyst Lee Wylie introduced Enterprise Resource Planning to the world in 1990. Over its 21 year history, ERP software has undergone a significant transformation. While the early systems were purchased and used primarily for financial applications, order management, purchasing, and manufacturing, today’s systems are designed for broad use across your company. The leading ERP systems included business intelligence and performance management software built into the applications so that you track your company’s performance across critical business metrics. Newer systems also include applications for supply chain management, customer relationship management, human capital management, product lifecycle management, enterprise asset management, expense management.

If your system dates back to the last century, you likely paid a lot of money for customization and integration that tied your hands when it came time to upgrade your systems. As a result, you’ve lost out on a last a decade’s worth of functionality.

Likewise, your industry has also changed since your last ERP demo. Your business processes have no doubt evolved, and you’re more connected than ever to your customers, suppliers, and other trading partners.

In any case, a lot has happened in computer and storage price-performance since you were last in the market for a new business system.
Your first step in figuring out what you want is determining what your challenges are and you’re your business needs to do better.
The current economic condition poses a significant challenge for your company, if you’re like most manufacturers. In fact, according to a recent Aberdeen Group study, companies of all sizes ranked economic conditions as a major challenge.1

Challenges in 2011 (Ranks 1-5, with 1 as least)
Business Challenges
Economic conditions
Increased competition
Ability to execute strategy
Market volume
Lack of brand equity/awareness
Rising operating costs

Small
3.2
3.0
2.9
2.9
3.2
2.6

Midsize
3.1
3.0
3.1
2.9
2.4
2.9

Large
3.2
3.1
3.1
3.0
2.2
3.0

Source: Aberdeen Group, April 2011

Aberdeen Group, Kevin Prouty and Nick Castellina, “ERP in Manufacturing 2011: Defining the Strategy,” July 2011, p.5.

1

Infor is in no way committing to the development or delivery of any specified enhancement, upgrade, product or functionality. See “disclaimer” paragraph contained herein.

INFOR10 ERP > WHITE PAPER

3

For the purposes of this study, Aberdeen defines smaller companies as those with under $50 million in annual revenue; midsize companies as those with $50 million to $1 billion in revenue; and large as those with over $1...
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