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Choosing the Right ERP Solution:

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Choosing the Right ERP Solution: 3 CRITERIA FOR SUCCESS Table of Contents 1 2 Who We Are 3 The Key to Better Business Performance 4 ERP as the Focal Point of Your Business 5 Why Some ERP Solutions Fail
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Choosing the Right ERP Solution: 3 CRITERIA FOR SUCCESS Table of Contents 1 2 Who We Are 3 The Key to Better Business Performance 4 ERP as the Focal Point of Your Business 5 Why Some ERP Solutions Fail 8 How to Choose the Right ERP Solution Make the Right Choice for Your Business Who We Are 2 Our achievements are a direct result of our dedication to superior customer service through the delivery of innovative business solutions. We have one goal: We remind ourselves every day to: Have a client focus, enhance their success and exceed their expectations. needs of our clients. We provide specialized solutions for industries such as service organizations. We are committed to building and sustaining client loyalty through workshops, training classes, and engaging communications. Finding the most comprehensive solution for your business objectives is the key to ERP success and sustainable business growth. We help businesses get to market faster and achieve continued success. How can we help you? Let us know by clicking here. The Key to Better Business Performance 3 In a recent report, Paul D. Hamerman, of Forrester Research, concluded that agile financial processes enable companies to perform better. - Paul D. Hamerman, Forrester Research, Align Financial Processes and Systems If you are reading this report, you want to transform your business by finding an agile and integrated financial performance and reporting system. You may be outgrowing your current financial accounting software. You may have discovered that your emerging company is in need of a whole package solution right from the beginning. Either way, an effective ERP solution includes a comprehensive software system that will enable you to effectively manage your business processes. Full service ERP solutions streamline and improve productivity in ways you can t foresee until you experience the solution for yourself. ERP as the Focal Point of Your Business 4 Choosing ERP software is like selecting a central communication point for all of your business activities. In order to allow for sustainable growth, a financial reporting system will implement 3 critical best practices as outlined in the Forrester report: standardization with a consolidated ERP system. Manage and automate labor-intensive processes like account reconciliations, expense reporting, regulatory filings, and internal controls management. data to flow efficiently to support performance measures and make critical business decisions. Imagine, one neat electronic package that can handle all of your inventory management, human resources, and accounting, and allow you to grow without adding more staff. How much labor could you save? Imagine better and faster business decisions based on real data. Why Some ERP Solutions Fail Many businesses have overlooked the efficiency and cost-saving measures of an effective ERP solution. 5 Unfortunately, some companies (even Fortune 1000 companies) who have implemented ERP systems have found themselves unhappy not because they lack a system but because they chose a product, deployment method or provider that couldn t meet their specific needs. Manufacturer Sentiment Towards Current ERP 73% Dissatisfied In a recent survey by the Wall Street Journal, 73 percent of all U.S. manufacturers reported dissatisfaction with their current ERP system. 27% Satisfied If you feel similarly unimpressed, it may be because of these critical issues surrounding the choice and implementation of your current system: Unclear or Incomplete Objectives Insufficient Planning Inadequate Training Lack of Key User Input Source: Wall Street Journal InterDyn Artis provides the knowledge and expertise to minimize your risk of project failure. We work with you before, during and after the ERP implementation to get buy-in, establish clear goals, plan the project, engage your staff and train key users of the software. 6 Even when a due diligence process was used, the selection may have cost thousands of dollars for the company in terms of time and resources. There are many reasons why a project can fail or succeed. According to include a lack of commitment, lack of resources, unrealistic time frames and unrealistic expectations. It can be difficult for managers to return to the drawing board and find a better ERP solution. Executives who are dissatisfied with current systems or products are at a critical impasse, facing a choice of one of four options: 1. Do nothing and live with the pain. 2. Hire more people instead of creating systems that work. 3. Apply custom built band-aids to your current systems. 4. Invest in a robust ERP solution that improves business performance. Theodore Roosevelt 7 At InterDyn Artis we believe you should never put up with an inadequate system just because moving forward seems difficult. We make moving forward easy. Hiring staff or throwing people at the problem is tempting for many businesses. Many will implement this choice as a stop-gap measure and it often ends up becoming a long-term issue. When critical issues aren t addressed, inefficiencies can ultimately bring down the company. Choice number three is a band-aid for companies that neglect to re-invest in their business. You can continually create custom processes in order to get your system to work. It is tempting to just apply a band-aid when you really need to address core business issues. Again, you will find increased labor costs and you will also cede some level of control over your business. Choice three typically results in creating solutions that are people focused, not process focused. When only a select few employees understand how to implement your processes it costs you money and makes business decisions more difficult. Anthony Robbins When you re dissatisfied with inadequate financial systems or products, you really only have one choice. How to Choose the Right ERP Solution 8 Once you make the decision to invest in a more robust ERP system, the next step is choosing which solution is right for your business. In today s market, a range of ERP options exists, and it can be overwhelming to select the best package for your needs. your business. This initiative is a huge opportunity for your business. Done correctly, it will provide key competitive advantages and help shape the destiny of your company. To make the right choice, you need to look at your ERP options from three critical criteria. For an ERP system to be successful you should choose a solution based on the software, deployment method and partner. company means choosing a system capable of handling your specific processes. Your software should be flexible enough to address all of your critical business needs. 9 The right solution will deliver reduced costs, improved efficiencies, faster ROI, increased revenues, and more profitability. You should ensure that the financial applications you need can be handled by the software. Vital business capabilities are found in the following broad areas: Financial Management Business Intelligence and Reporting Human Resource Management Inventory Control Manufacturing/Distribution A good way to ensure that the software will work for you is to have an effective demonstration put together for you by your selected provider. When selecting software, it is important to keep in mind that you are making an investment that will improve and enhance your business. Be realistic about your expectations and cost perceptions. The lowest cost software might look good initially but hidden costs will add up to greater long-term price. A too good to be true deal is usually precisely that. You always need to make sure you are comparing apples to apples. Make sure any quotes you receive contain pricing on software, services, implementation and support. To invest correctly for the long term, you need all of this information. ERP systems can be deployed as either an on-premise solution or in the 10 An on-premise ERP system is a software system that is installed locally on your business s network. A cloud ERP system is located on the Internet (also known as the cloud ) so data and software can be accessed anywhere there is Internet access. Let s take a quick look at some of the advantages and disadvantages of these two software deployments. On-Premise ERP Systems Pros. The vast majority of ERP systems are on-premise because of the desirability of having business data kept close to the source and secure. With on-premise systems you don t have to worry about security leaks, threats, or the potentiality of third parties ever accessing your data. Your system s controls are entirely in your hands. Cons. While a consultant and vendor will help you set up, train, and choose the correct modules to use for your business, the general day-today running and maintenance of an on-premise ERP system will require IT staff. Additionally, on-premise systems can have high upfront costs due to the necessity of purchasing servers and technical infrastructures that are capable of installing and running an ERP system. Cloud ERP Systems Pros. Because cloud ERP systems are hosted in the cloud, you don t have to be as concerned about up-front costs. Cloud systems can be deployed without building your own technical infrastructure. An added bonus is that your ERP provider will typically handle software updates, security patches, and other changes necessary to keep your system up to date with evolving technology. Cons. While up-front IT costs are typically lower with a cloud-based ERP solution, you need to closely examine other costs in order to make valid cost comparisons between on-premise and cloud ERP systems. If you already maintain other applications on your own servers, a cloud-based solution may end up costing more in the long run. Also, since cloud ERP systems are not on your local servers, your Internet connection is much more vital. If your connectivity drops, so does your access to the ERP system. 11 #3 Technology Partner When selecting ERP software, choosing the right provider can make all the difference. It is the most important choice of the three decisions you need to make. You want a partner that has a track record of success and the ability to offer you multiple options. Many technology partners only offer on-premise or cloud based solutions. When it s time to really understand your critical business initiatives, they have a vested interest in guiding you towards their deployment offering. At InterDyn Artis we offer multiple top-tier solutions and deployment methods. We help you determine what best suits your needs and desires. We build a solution that solves your critical business issues because that is how we grow our business. Remember, at InterDyn Artis our goal is to increase your profits by leveraging technology. We have a client focus, so we can enhance your success and exceed your expectations. We can t succeed at our mission unless we have the tools to offer you the best solution for your business. Premier On-Premise & Cloud Software Options To help you navigate through the market options, we want to provide a quick 12 As you do your research on the right ERP solution for your business, you need to examine the features of the ERP products you see as a potential fit. These two top industry products can benefit emerging and growing businesses. Let s a take a closer look to help you assess how an effective and robust ERP system can transform your business. the market, and for more than 25 years it has continued to provide comprehensive out-of-the-box business management functionality designed to power small and mid-size businesses around the world. intelligence, communication, and collaborative tools that connect the many moving parts of an organization to provide greater visibility, transparency, and control. Achieving better control is about having improved visibility over how your company is performing. This means having an ERP system that will drive the processes that make employees more proactive and productive. integrated systems that share data to give greater visibility in all of your transactions. Tools such as workflows with built-in alerts and notifications allow team members to make critical business decisions quickly and effectively. already uses Excel, Word, Outlook and other Microsoft products. 13 familiarity. Making fast and informed decisions can have a direct impact on your processes. This brings down costs and increases your margins. Tools that help you better identify and target customers for new sales opportunities, automated purchasing processes and the streamlining of inventory turnover, allowing you to stay on top of maintaining the right stock levels to serve your best customers. of your business. It works with your current technology systems to boost productivity and provide long-term value without constant costly inputs. many outside apps and programs with its core architecture. You may be outgrowing your current financial software. You will never outgrow Microsoft Dynamics GP. 14 Intacct is the only cloud ERP software endorsed by the AICPA. Intacct was built from the ground up to be deployed in the cloud. It is flexible enough to be delivered on multiple devices. You can even access Intacct on your mobile device. Optimize Your Financials More than 6,000 organizations - ranging from public companies, multi-national organizations, and global enterprises - use Intacct s online accounting software. Its cloud accounting software includes tools such as general ledger, accounts receivable, cash management, revenue management, multi-currency management, global consolidations, and reporting and dashboards. Customers are an irreplaceable aspect of your success. Your current client relationships may be your most valuable business asset. Improving client experience will enhance your reputation and bolster your bottom line. Intacct offers tools such as order management, sales and use tax, project accounting, and CRM integration to improve business-client relations. Time and expense management tools allow employees to complete necessary administrative tasks quickly and easily. Track Your Vendors Centralized and automated inventory management, accounts payable, and purchasing tools allow team leaders to properly manage the huge range of contractors, vendors, suppliers, and other partners that play a critical role in your success. 15 Online accounting software and a robust ERP system allow you to manage working capital, optimize inventory, and keep your supply and demand chains operating at peak performance. Make the Right Choice for Your Business As you continue on your journey to find the right ERP solution for your business, remember to keep the three critical steps in mind: Deployment Method 3. Technology Partner All three of these are interconnected and your choice of one will surely influence your choice of the other two. integration with your business and one that falls short on achieving critical business objectives. Choose a technology partner that has a track record of success and growth, one with experienced, professional and trained employees who can add value to your ERP system. Don t be afraid to ask for references. 16 A list of promises we make to our clients. We will always put your interests first We will endeavor to exceed even your highest expectations We will work within YOUR time frame, not ours We will communicate effectively We will be honest and transparent Our 25 years of success are built on our ability to deliver on this list of promises. We work hard to improve our clients profits by implementing solutions that are built to deliver results. Additional Resources
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