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Monday, August 9, 2010
Maximise your ERP Solution by Measuring ROI
According to a report issued by the Aberdeen Group ROI of ERP Software is gaining increasing attention from SMEs of have implemented solutions. The focus has shifted since a survey they carried out at the beginning of 2007 when 32% of companies never estimated ROI to justify ERP projects and 33% never measured the actual return on those investments.
The top strategic actions which are of importance in achieving optimum ROI and the full benefits from ERP are seen to be standardising and accelerating business processes, and providing visibility to business processes across functions and departments.
While many companies now feel compelled to make an investment in ERP as a necessary infrastructure to support their business, best practices for maximising the benefits from such a solution involve the measurement of the reduction in costs, improvement in schedule performance and customer satisfaction, and the ability to redeploy employees to add more value to the organisation.
Best in Class companies are 33% more likely to utilise ROI estimates to justify ERP projects than Laggards and 71% more likely to measure the results when completed. While 100% of Best in Class companies use ROI estimates to justify ERP projects costs, they do not all come under the same level of scrutiny.
Replacement activity was cited as requiring the most scrutiny as an existing ERP solution is presumably already bringing value to the enterprise, while a new purchase will be most likely replacing a need that has not been previously satisfied.
The most regularly suggested reason for not measuring ROI is that it is too
difficult to measure. The most successful ERP implementations have clear objectives which should be easily quantified and measured so that full gains can be realised.
24% of SMEs point to a lack of tools to measure ROI, however, most if not all of the tools are available within the application for which the ROI is being measured.
While ERP plays a supporting role in creating and expanding sales channels and in developing strategic partnerships, it is essential to enabling improved business execution, the top strategy in aggregate across companies of all sizes.
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