How To Choose The Best Inventory Management ERP Software
There are plenty of options for ERP platforms on the market today. With all the available options, it can seem overwhelming to choose one. We’re here to help! Here are the most important things to consider before choosing the best inventory management ERP software partner.
THE PRODUCT: Features, Add-Ons and Integrations
Today’s ERP market is full of platforms that offer a wide array of products. First, you’ll need to narrow down what you’re looking for. Platforms offer various combinations of Inventory Management, Point of Sale, CRM, Payroll, Supply Chain Management, Budgeting, Forecasting, Accounting, and HR Management modules. Once you assess your areas of greatest need, you can focus your search on specific platform offerings.
Now that you’ve narrowed down your search, start asking lots of questions. What core features are included? What features are extras or add-ons? What direct integrations are offered? Asking questions and advocating for your specific needs is a beneficial two-way street. You get exactly what you need, and software companies get feedback on areas of growth opportunities. Especially on the topic of integrations, any opportunity where you don’t have to reinvent the wheel will be a great benefit to you. ERP partners who can seamlessly integrate your existing data into one unified platform demonstrate an understanding of your needs and what it takes to keep all aspects of your business moving together in one direction.
THE USER EXPERIENCE: Usability and Customer Support
Next up, start digging into the platform’s ease of use, sophistication of functionality, and dedicated customer support department. Whether you’re transitioning from another platform or straight from pen and paper to your first ever tech solution, there is guaranteed to be a learning curve for you and your team. Assess the strengths and weaknesses of your team and start making a plan for software training and onboarding. It won’t matter if your preferred platform has premium bells and whistles if your team isn’t ready to learn a new system. And likewise, a fancy platform is only as good as the people who will coach you on how to use it.
The user experience is essential for SMEs who are poised to scale up. And it can seem daunting to adopt a new system when growth is on the horizon. Matt Brown, CEO of Wherefour, knows this firsthand. “The decision of when to adopt an ERP platform doesn’t get easier with time. The longer you wait, the harder it gets because you’re training a bigger team and implementing a complex business. On the flip side, if you do it too early, you might have challenges of staffing and implementation. There is a sweet spot where the combined factors of where you’re at, where you’re going and how quickly you want to get there align,” he says.
Tech solutions that provide an intuitive user experience AND are there to help at challenging moments are the key to unlocking an SME’s growth potential.
THE REPUTATION: User Reviews and Cost Analysis
Finally, make sure you investigate third-party reviews and recommendations for an unbiased assessment of the platforms’ efficacy and value. Capterra, GetApp and G2 are three such marketplaces that connect businesses with software solutions. They offer verified user reviews and side-by-side comparisons for a variety of industries.
Based on your current budget and your growth strategies, there are a number of factors you’ll need to consider to find the best inventory management ERP software. Consider your team’s specific needs and abilities, your current financial capabilities, and remember that an upfront investment has potential to save you money in the long run.
