How to drive success with your Cloud ERP
In a recent Buyer’s Guide from IDC, they evaluated those organizations who have embraced Cloud ERP to evaluate what it takes to digitize operations in the Cloud and implement ERP with demonstrable success.
Notably, IDC identifies that many are moving to digital ERP systems, with 51% considering themselves a digital business, while 49% are still transforming.
Those transforming must understand the top priorities, how to drive success through implementation, and the pitfalls to avoid. Join us as we explore the considerations and best practices to get the most value from your Cloud ERP system.
What defines successful Cloud ERP implementation?
To understand what successful Cloud ERP does, and looks like, we should explore the top priorities for those transforming to know where value can be driven. The top priorities for those transforming are:
- To generate a quick ROI (51%)
- To reduce costs of current systems (24%)
- To enable easy execution (23%)
- To create operational efficiencies in financial reporting, project management, and employee experience (21%)
It’s clear that those transforming want a quick but effective implementation and adoption period, but also want to ensure that their investment in Cloud systems brings both cost and operational efficiencies.
Actions to drive success in your Cloud ERP
In their report, IDC proposes steps organizations should take to successfully find value, timely return on investment, and the efficiencies they desire.
- Create a roadmap – Success for each organization will look slightly different, you need to create a clear roadmap to success by defining the objectives that matter to your organization, from vendor selection to implantation to continued business value. Aim to find a vendor that fits your needs, only customizing where there is no solution.
- Plan for business process standardization – Your processes will change when you adopt new systems, but preparing for this, its effect on employees, and considering how you can overcome implementation issues, will ensure ROI is timely.
- Utilize partners – Certain vendor ecosystems will include valuable technology and service partners. Organizations looking to drive value should evaluate these partners, as well as the main vendor, to get the maximum value from their investment.
- Identify KPIs to monitor for success – Again, each organization’s digital transformation is different, and different organizations will need to monitor different KPIs to monitor the success of their Cloud ERP implementation. This process should be ongoing from selection through to after the system is implemented.
- Allocate the necessary resources – Management of the implementation process is key and part of this is ensuring that your organization can allocate the correct amount of resources for success – to ensure there are no surprises.
- Integrate data – A large part of the Cloud’s value is its use of integrated data, this will be key in an organization's ability to streamline operations, as well as to realize cost-saving capabilities.
Pitfalls to avoid with Cloud ERP
It’s important to realize that simply having Cloud ERP will not directly result in organizational success.
Yet, those who ensure they are choosing the right product, are diligent in the implantation process, and avoid these common pitfalls, will reduce the barriers to success.
- Choosing a rigid tool – A composable and customizable ERP system that can scale and grow as your organization does, is key to finding ROI and a resilient ERP system.
- Not adapting processes – Undoubtedly, adopting a new system or technology will result in some operational changes, and organizations should be open to new processes as a result. Trying to continue your current processes in Cloud ERP may detract from the value that new processes could bring.
- Not listening to the end user – Your employees, and the end users of your ERP system, will know your systems best. It’s wise to hear their take on your current processes, what can be done better, and what doesn’t need to change.
- Failure to reduce manual tasks – The paradigm of Cloud technology and digitized business processes is that time spent on manual tasks can be automated and repurposed for more value-adding tasks, this should be leveraged for value.
- Poor change management – Organizations should not assume that simply instating Cloud ERP will meet their priorities, change must be managed and implemented strategically for success.
- Implementation isn’t everything – additionally, implementation is not the entire project, organizations need to also identify KPIs that monitor success, governance, compliance, and resources as components of success, as well as onboarding.
- Adding to the project – The sign of a failed implementation project is when it must be adapted. Organizations should ensure that the roadmap is achievable and well-researched, so scope creep doesn’t lead to delayed value realization.
How Unit4 can help you drive value with Cloud ERP?
IDC’s report shows that those embracing Cloud ERP can reimagine the capabilities and efficiency of their back-office processes, but this itself requires change management, strategy, and a clear roadmap for success. Read IDC’s full report to discover how Cloud ERP is revolutionizing back-office operations.
To learn how Unit4 can help, visit our dedicated page for our next-gen ERPx solution to learn how our teams can aid in implementation and the capabilities our solution brings, or talk to sales to get a demo.
