Implementing a cloud-based ERP solution will be an exciting opportunity for your business, as this will see more operational efficiencies, enhanced automated processes, reduction in manual work and many other. But how do you measure the success of implementing a cloud-based ERP solution?
When dealing with intangible benefits it can be especially difficult to quantify ROI. However, you can easily measure the project’s success by properly documenting processes before making the switch, and taking the time to talk to employees.
The ability to share data with staff, management and company owners who support the implementation of new cloud-based ERP solution will not only enable workers to put in time and effort to adopt the new system and related process adjustments but will also allow the company to shift resources to other business aspects for future growth, initiatives and improvements.
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Not to mention that displaying successful ROI with the boss is sure to earn you popularity points.
Establishing Benchmarks
Before you engage with potential software vendors, putting together a list of existing processes, your unique business requirements and existing feature requirements, potential opportunities for improvement and business growth, and your plan to evaluate software vendors and make a final decision is always best practice. When you start documenting existing processes, try quantifying the data wherever possible.
Measuring Success
It is easier to measure the project’s progress once you have a set of metrics against which to compare results. It is important to keep in mind, though, that you probably won’t be able to immediately realize all of these benefits. You should only start collecting new data after you’ve been using the program for a good 6 months. This allows your team time to embrace new processes, receive additional training from the vendor of software and adapt to change.
In order to better determine how the new system has helped to improve business processes, it is then appropriate to complete the same analysis as before the research. Remember, however, that not all benefits will be tangible, you can still collect enough information to measure those benefits reasonably.
The best way to measure the progress of a project introducing software is to plan ahead of time. Setting metrics based on existing procedures and talking to workers to get a complete picture of how much time and resources are being spent on any given job. After at least 6 months of using the new solution, start testing the same parameters to measure to your current benchmarks. You will probably find there are always ways to make your company more effective and so partnering with a software vendor that you can count on as a trusted technology partner would help you to continually track, monitor and enhance business processes.
