What criteria should you use to evaluate ERP system vendors?

1 Business needs

The first criterion is to understand your business needs and goals. What are the main problems or pain points that you want to solve with an ERP system? What are the specific features and functions that you require? How do you measure the success and return on investment of an ERP system? You should have a clear vision of what you want to achieve with an ERP system and how it aligns with your business strategy and culture.

2 Vendor reputation

The second criterion is to check the vendor's reputation and track record. How long have they been in the ERP market and what is their market share? How many customers do they have and what are their satisfaction ratings? How do they handle customer support and training? How often do they update and improve their software? You should look for a vendor that has a proven history of delivering quality ERP solutions and providing excellent service.

3 System compatibility

The third criterion is to assess the system compatibility and integration. How well does the ERP system work with your existing hardware, software, and network infrastructure? How easy is it to migrate your data and processes from your current system to the new one? How flexible is the ERP system to adapt to your changing business needs and industry standards? You should look for a vendor that offers a seamless and scalable ERP system that fits your technical environment and future plans.

4 Cost and value

The fourth criterion is to compare the cost and value of the ERP system. How much does the ERP system cost upfront and over time? What are the hidden or additional costs, such as maintenance, upgrades, customization, or licensing fees? What are the benefits and savings that the ERP system can bring to your business, such as increased efficiency, productivity, quality, and customer satisfaction? You should look for a vendor that offers a fair and transparent pricing model and a high return on investment.

5 Security and compliance

The fifth criterion is to verify the security and compliance of the ERP system. How secure is the ERP system from unauthorized access, data breaches, or cyberattacks? How does the ERP system protect your data privacy and confidentiality? How does the ERP system comply with the relevant laws and regulations in your industry and region? You should look for a vendor that follows the best practices and standards for security and compliance and can demonstrate their certifications and audits.

6 User experience

The sixth criterion is to evaluate the user experience and usability of the ERP system. How user-friendly is the ERP system interface and navigation? How intuitive and customizable is the ERP system functionality and workflow? How accessible and responsive is the ERP system on different devices and platforms? How engaging and satisfying is the ERP system for your employees and customers? You should look for a vendor that offers a modern and attractive ERP system that enhances your user experience and satisfaction.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?