Enterprise Resource Planning (ERP) systems are critical for helping modern businesses manage day-to-day business activities such as accounting, procurement, finance, manufacturing, supply chain, and customer relations.
Is your business preparing to migrate from QuickBooks to an ERP system? Or, do you already use an ERP system and you’re considering switching to a new platform? The implementation process can be an enormous change for any organization. To ensure an efficient transition, it’s important to review the success factors of ERP implementation.
15 Success Factors of ERP Implementation
ERP implementation includes planning, configuring, and launching an ERP. Depending on the size of your company, implementation can take a few months or several months.
To ensure successful implementation, your organization needs to define key requirements, determine the best way to use the system, and configure the system to best support your business need. Let’s review the steps involved in completing the implementation process.
1. Project Strategy and Start-Up
The success of your implementation will be measured by reaching target Key Performance Indicators (KPIs) that include:
- Staying within budget.
- Implementing within your timeline.
- Achieving a positive return on investment (ROI).
Building an ERP strategy and defining the project scope are essential elements of a successful implementation.
2. Commitment from Management
Any ERP implementation will impact how an organization operates because it affects day-to-day business processes. Therefore, it’s essential that employees from all parts of the organization are aligned with the project goals. Constant guidance and communication from the top down are crucial to emphasize the project’s importance.
3. Set a Budget
A realistic budget for ERP implementation includes implementation costs, hardware, staff resources, and software. Create an ideal estimate of your implementation costs and keep control of the charges by constantly monitoring and reviewing. We recommend incorporating training and project management costs into your budget, as these are essential for a smooth transition.
4. Discovery and Planning
A key milestone for any implementation project includes researching and selecting an ERP system. You’ll also want to identify a project team and define your specific system requirements. After that, the project team handles most aspects of the implementation process.
5. Select the Right ERP Partner
We recognize there are many different ERP implementation partners to select from. If you decide to migrate to the Oracle NetSuite ERP platform, we recommend working with Finlyte to support your implementation needs.
We are an award-winning implementation firm that will provide you with thorough guidance before, during, and after the ERP implementation project.
6. Build a Project Team
The project team primarily comprises a strong project manager and someone representing other essential areas of the business, such as sales and IT. The project team should also include Finlyte as your implementation partner.
7. Ensure Strong Communication
Communication is essential to successful implementation. As your implementation partner, we will remain deeply involved in the implementation project to keep stakeholders informed about progress throughout the project. We will also communicate any issues we need to address that could affect the implementation timeline.
We will gain an understanding of current workflows to help develop a complex ERP system. It’s essential to involve users in this phase because they have a critical understanding of existing business processes and can help make recommendations about the best processes to support the use of the ERP system.
After establishing a clear layout, the development phase can begin. This stage involves configuration and customization where necessary. While developing the software, the team must create training manuals for users to understand the new system.
10. Data Cleaned and Defined
During implementation, the data you have in the old software or system must be transferred, cleaned up, and defined. Having a clear understanding of all the data and how to use it will help ease your employees into the new system during and after the transition. Therefore, testing is essential throughout the entire implementation.
While in the development phase, testing may also occur on certain features or modules. Initial testing of certain features and functionality will be followed by rigorous testing of the whole system.
When the system goes live, our project team will be readily available during the implementation phase to help users understand the system, answer any questions, and attempt to fix any issues that may arise.
13. Support and Updates
Cultivating your ERP system after implementation is essential to achieve the desired benefits and keep your users happy. In addition, listening to user feedback is vital to understand better where improvements may be made.
A set training plan will help integrate users into the new system and will help ease concerns during the transition. We will continue to provide training to users to ensure they are comfortable with the NetSuite platform and can perform their regular duties.
15. Project Completion
Completing an implementation project is just as important as starting one. Our team will ensure that every issue has been resolved and everyone is pleased with the new system. We focus on maintaining clear lines of communication about launch dates, downtime, and when the old system will be phased out.
We will also help your company introduce and document new business processes to ensure engagement from all team members.
Find Success Implementing the NetSuite ERP Platform
Organizations scouting a new ERP platform should consider these success factors of ERP implementation. To realize even more success, work with a partner with a clear implementation strategy that can help your company follow a comprehensive plan.
We are experts at implementing the best-in-class NetSuite ERP platform. We will guide you throughout the implementation journey and set you up for success. Schedule a consultation today to learn more about how we can support your ERP migration.