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New ERP systems alone won't bring about the digital finance transformation many executives seek. <br>ERP implementation can only deliver results if the fundamentals are in place. <br>Explore why ERP strategy is important, then dive deeper via our series of perspectives on how to develop an executable ERP strategy that can help you achieve desired capabilities, setting you up for success now and into the future.<br>
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Introduction New ERP systems alone won't bring about the digital finance transformation many executives seek. ERP implementation can only deliver results if the fundamentals are in place. Explore why ERP strategy is important, then dive deeper via our series of perspectives on how to develop an executable ERP strategy that can help you achieve desired capabilities, setting you up for success now and into the future.
ERP Strategy Fundamentals Many organizations assume that technology will solve all problems. In some cases, vendors will convince them that technology is a panacea. But if the fundamentals aren’t in place, a well-intentioned ERP implementation initiative can fall far short of expectations. This can lead to a significantly lower return on investment, increase business user frustration, and cause users to be skeptical of future projects.
ERP strategy fundamentals include: • A defined vision and clear understanding of business needs • A right mix of business partners at the table • A clear road map for enabling desired capabilities • An understanding of functional and process integration points • A meaningful data strategy • A sound understanding of the reporting strategy with an enabling chart of accounts (CoA) • A clear plan to identify and develop strong talent
Business-led Vision, Capability-Focused ERP Strategy In order to benefit from what these predictions allude to, many companies are starting with ERP implementations to "digitize the core." But the companies that are getting the best results recognize that technology alone won’t bring them the desired capabilities. Business capabilities, functional integrations, scalability and sustainability, operating models, talent, and desired business outcomes must all be considered, along with the technologies expected to enable them.
Having a business-led vision and a capability-focused technology strategy is important for many reasons: • Cross-functional leadership alignment. Projects routinely fail because leadership isn’t on the same page when it comes to defining success and expectations. Having a strategy that’s clearly documented and understood helps drive the organization toward a common goal. • Business requirements across functions.An ERP strategy ensures the right players (Finance, IT, order management, supply chain, and business units) have a seat at the table and that business needs and requirements are understood. This helps reduce rework costs if critical functionality is missed or doesn’t deliver the expected capabilities.
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