The average company’s marketing budget could be as much as 30% of its total sales. If your budget is anywhere near this amount, you want to be sure that your advertising has been paying off, but it’s hard to know if you’re getting your money’s worth without the right tools.
An ERP system (enterprise resource planning) is a critical tool for understanding and improving marketing effectiveness, among other things. You can use this tool to track and manage the data you need to make better business decisions.
It’s especially useful when you’re trying to expand, since finding the best ERP system can help streamline operations and make it easier for you to keep tabs on your finances.
If ERP software has caught your interest, here’s how to find the best system for your company.
Determine Your Needs
Before you compare different ERP solutions, make sure you have clear goals in mind for what you want from your new software.
A goal can be as simple as looking for better customer service tools so shoppers can find information about your products faster.
Consider the Size of Your Company
A large corporation with thousands of employees could benefit from a full-featured ERP system. These systems can handle complex reporting requirements and financial accounting.
If you’re just starting or have only a few employees, this might not be necessary. A basic solution with a simple dashboard and a few CRM features (customer relationship management) could be all you need.
Evaluate Your Industry
Learning the expectations of businesses in your niche can help you understand what ERP features are important.
If you’re in an industry where customers are easily swayed by price, an ERP system with integrated pricing tools is more valuable than one that offers advanced inventory management.
Select a Vendor
When you’re looking for an ERP system, it’s important to select a vendor that meets all of your requirements. If you need manufacturing software, your chosen vendor should have an extensive background in managing building supplies. For a service-based organization, your selected vendor should offer tools that improve retail operations and marketing.
Make sure the vendor is reputable. You should ask if they have had other clients from your industry. Find out if they had a pleasant experience.
Choose the Best ERP System and Other Tools for Your Business
The best ERP system will help you run your business more efficiently and profitably. The tool will be user-friendly, and the dashboard will have well-thought-out navigation.
Ensure the vendor offers training and support for their ERP system so you can use it effectively.
Trying multiple ERP systems is the best way to find out which software is best for your company. You’ll have to do this every time you want to add something new to your business. You can go through our business articles for helpful tips that will make improving your business a bit easier.