Some of the steps in an ERP selection process are:

Assess Business Needs and Requirements

• Conduct a Needs Analysis: Identify the pain points, inefficiencies, and specific requirements of each department.
• Define Objectives: Establish clear goals for the ERP implementation, such as improving efficiency, scalability, or integration capabilities.

• Send RFPs to Shortlisted Vendors: Provide them with your requirements checklist and ask for detailed proposals.
• Evaluate Proposals: Assess the proposals based on criteria like functionality, cost, implementation timeline, support, and vendor reputation.

Vendor Selection:

• Select a Vendor: Based on the evaluations, select the vendor that best meets your requirements.
• Negotiate Terms: Negotiate the contract terms, including pricing, service level agreements, and implementation timelines.

We understand that selecting an ERP can be a very difficult task especially if you haven’t it before. It is likely the biggest non staff cost in your finance cost centre and it can underpin the success of your finance team for many years to come. At Coras we know ERPs inside out, so get in touch to speak with one of our consultants who can help with the selection process. If you are an SME looking at an ERP out post comparing Microsoft Dynamics Business Central and NetSuite might help.