When you do a Google search for innovation and ERP, you will most likely come across multiple websites that focus on innovations like Cloud, Internet of Things, Big Data, Artificial Intelligence, Mobile Apps, and Robotics. Is this focus on innovation just a strive for differentiation of the different vendors, or do these innovations deliver the promised value to your organization?
We are firm believers that these technologies come with many exciting possibilities, but we need to remember that you have to learn how to walk before you can run. So no matter how “cool” all these innovations are, it is essential to work on a stable core before you move on with innovative technologies.
To be successful, your organization must have a stable, digital core to deliver financial reports, log transactions, process orders, and track fixed assets. Although for accounting and financial statements, we’re all in the same boat (compliancy with IFRS, local GAAP’s and other accounting standards are just not optional), the architecture of the core will probably differ based on your industry. Companies that sell products will need manufacturing, supply chain, and inventory management in their core ERP. At the same time, professional services organizations focus on having project management, service management, and support for field services modules.
Building a robust digitalized core starts with choosing system components and integrate them into your IT architecture. Since accounting standards apply to all of us, and modules for industry-specific needs are based on Best Practices, you can select a standardized solution that fits best to your companies needs.
This standardized solution requires little to no customization and serves as a foundation to provide stability and dependability for your organization, just like the foundation of a new building. By working with standardized processes and staying close to the standard configuration, you harmonize processes within your organization. This harmonization will be of enormous help when your company is growing, and you need to embed new departments or operating companies.
By doing this right, the core doesn’t need to keep up with all the innovations. You connect this core ERP with modern integrations and cloud services to keep your landscape flexible and make sure your business can take advantage of all future innovations and maintain your competitive edge. In the next blogs, we will share with you how these innovations will bring the value the vendors are offering.
Selecting the right ERP is something you don’t do every day. To help you get started with your ERP selection we selected three tips.
A new ERP? Let’s say you need to figure out what ERP-system is the best fit for your organization. That shouldn’t be hard, right? I’m afraid I’ve got some bad news for you. There are more than 250 systems to go over! Choosing the right one can be hard; that’s why we created a list with the top 7 ERP vendors of 2020 for you.