Oracle Cloud ERP system gives you the business models that make operations smoother and streamline processes to reduce expenses and increase productivity. Being an entrepreneur, you already knew. However, confusion or issues arise while selecting from the product modules the best solution that will complement your business requirements. This article will give you the top ten criteria to consider for your ERP Implementation.
Top 10 Criteria for a Cloud ERP Implementation
1. Business requirement
The most important criterion is to understand your business requirements. It could be done by talking to the employees. They will be using the system, and they face issues because of the lack of resources or inefficient processes. Take as many opinions as possible. If need be, talk to the customers, suppliers, or the ex-employees to get a better idea of the requirements. We suggest you make a priority list with the most crucial requirement at the top and the least important at the bottom. This way, it will be easier for you to take things forward with the integration partner, and they will be able to give you the combination of the best-suited solution.
The best resource you can use in this case is your Oracle Business Partner. These are the people who have seen every aspect of what goes into successful implementations and, ultimately, employee adoption. If you bring them in early on in the process, they will be a wealth of information on areas you may not have thought about.
2. Budget and resources
Choose the right modules to utilize for your business. ERP product modules should be determined based on the organization’s requirements and the available budget. While calculating the budget, do not forget to include the training, enhancements, and implementation costs.
Moreover, along with the budget, list out the available internal and external resources you will need to utilize. ERP implementation usually requires a steering committee and technical team. Try to loosen your wallet a bit to get the best ERP solution. It’s a long-term commitment, and you won’t want to compromise on the quality. Remember, “You get what you pay for.”
3. Integration with existing systems
There is a possibility that your company already has software being used to date, which has some functions that come along with integrating a new Cloud ERP system. It is essential to talk to the implementation partner and know the integration capabilities of the Cloud ERP solution you are opting for, especially if you don’t want to get rid of the old ones. A carefully planned implementation can give your new system a wealth of information the business has collected over the years.
4. Dependability of the Oracle partner
Selecting a dependable integrator is a significant factor that affects the overall implementation process. Look at their experience, and the industries they have served, and have an honest conversation about your vision for the business. Ask for the deployment options and the technology used for the implementation. We suggest you set up a demo and see what fits best for your company. Once again, the earlier you engage the Oracle Business Partner, the better off you will be in the long run.
5. User support
At the end of the day, the successful implementation of the ERP cloud solution depends on the users. Employees from all the departments will use the software and need to collaborate and be transparent with the other department as the ERP system will be one platform to share information. Earn their trust, and get support by knowing and adding their requirement to the list while selecting from the modules. After implementing the ERP system and with user adoption, your company will get the best results.
6. Features of the ERP
Every business has different requirements. Thus, it needs a specific set of module(s) that support the business. ERP system suites have a lot of product modules with various functionalities. They are designed according to the requirements of different industries and organizations. Analyzing the features required to have all the functions run smoother is vital to choosing the best combination. Oracle has gone to great lengths to listen to and understand its customer’s business practices and workflows. They have built-in functionality that improves employee productivity and business commerce connectivity while minimizing the number of clicks it takes to get the job done.
7. Will it be beneficial in the long term?
Organizations opt for Oracle Cloud ERP solutions to either manage the business’s existing functions or prepare for future growth. The answer to “Will it be beneficial in the long term?” is Yes! ERP systems usually take time to show results but prove to be one of the best choices for the business. ERP system also helps in initiating sustainable business growth. Just keep up with the trends and technology Oracle continues to deliver each quarter automatically, and your business will see tremendous benefits from this decision.
8. Return on Investment
You will incur the main cost while buying and implementing the Cloud ERP system. You will no longer need to supply all the servers, storage, and other CAPEX infrastructure costs incurred from past legacy ERP systems as Oracle will provide all of the required infrastructures to support the applications. If you’re not familiar with the term SaaS, it would be good to familiarize yourself with the concept. Other expenses will include the training expenses and the expenses of enhancements and support. However, what you will get in return is increased efficiency in the workflow. The employees’ productivity will boost the functions, and the sales and profits will rise. While the time consumption will reduce and your resources will generate more revenue.
9. Industry experience
Oracle implementation partners who have experience with several industries will be able to cater to your needs better as compared to others for obvious reasons. Tangenz IT System Integrator has been in this service for 14+ years and has served 200+ successful Oracle projects. They have been recognized by Inc. 5000 as one of the fastest-growing US Private Companies. Book a consultation call with them if you are planning to get Oracle software for your organization.
10. Enhancements and Maintenance
After selecting and implementing the Cloud ERP system, you might need to make specific enhancements based on the new requirements or due to a miscalculation while listing the organization’s needs. Also, your Cloud ERP system will require regular maintenance in terms of technical assistance and training for the new employees. An exemplary implementation partner will provide these services to you.
Thorough research is the key to any successful ERP solution implementation. We listed the top ten Criteria that will assist you in making a selection and narrowing down your options. Additionally, if you go for Oracle EPM Cloud or HCM Cloud along with an ERP system, it will fetch even better results, and your business growth will enhance even more.
To sum up, if you look at the total cost of implementation and ownership against the return on investment over time, you will witness some great results.
If you are still unsure what to do or want to decide on the ERP modules, book a consultation call with the Oracle solution partner, Tangenz IT System Integrator, today!
