How to Get an ERP ROI 25% Faster
Enterprise Resource Planning (ERP) projects can be a costly and time-consuming process for an organization. Studies have shown that ERP projects can often go almost 11% over budget and close to 20% past their targeted completion time. This can make an organization nervous, as they understandably want to reach their Return on Investment (ROI) as quickly as possible. It is also natural to want to reap the rewards of the ERP itself as quickly as possible. Both of these considerations point to a best possible course, the rapid implementation of ERP solutions.
One study found that 69% of organizations considered “Best in Class” chose a rapid implementation of ERP solutions. These rapid implementation solutions are custom made to adapt to their organizations needs, cutting out time and resources required to get the solutions running. These rapid implementation packages feature tools like implementation templates and centralized project maps, for ensuring that each project team and team member understands what needs to be done and how best to do it, as well as standardized dashboards, cutting down on training and adapting time for employees.
But what, exactly, are the benefits of choosing rapid implementation? The clearest upside is that organizations that choose a rapid implementation package reach their ROI almost 25% quicker. One of the biggest ways this is achieved is by cutting costs not directly spent on software, by close to 10%, on average. Companies choosing rapid implementation also go live with their new solutions on average 20% quicker than organizations choosing to go with non-rapid deployment, meaning they are reaping the benefits of the new software much sooner.
In a world where even the slimmest of margins can give great rewards, these savings of money, increased efficiency, and above all ability to hit ROI quicker can not be ignored. Rapid implementation of ERP solutions can give an organization an invaluable advantage.
Posted on Tuesday, January 26, 2016