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Which ERP software is more useful for medium sized enterprise.

Shahrose Azam's Profile

Hi Everyone, I am currently working in a Chartered Accountant firm which is a medium sized entity. Not small nor big in structure like PWC, KPMG or EY as a Assistant Manager Consulting. Our company currently has manual system for all Audit, Advisory and Tax which of course is every paper consuming. Considering the need, we want to install the Enterprise Resource Planning (ERP) software. I have come to know that there are three kinds of software which have user friendly access and fulfills the needs according to client-age. They are Microsoft, SAP and Oracle. Can you please guide that which software is more use full for medium sized enterprise considering the Level of membership which would be useful for us and cost-effectiveness that does not cost more in maintenance and annual membership fee. Your value able suggestions are important for us. Thanks Muhammad Shahrose Azam

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

There is no "one' best. Each system is best for a particular business becuase of multiple reasons.

I suggest you take a look at this resource:

https://www.proformative.com/resources/buying-accountingerpcrm-system

Julie Adelman
Title: Controller
Company: NuScale Power, LLC
(Controller, NuScale Power, LLC) |

I concur with Wayne. Every situation is unique. I recently went through the selection and implementation process for my company and found the engagement of a 3rd party consultant (with no profit depending on the system selected) invaluable. The consultant's experience with the implementation of many systems in many situations gave her the perspective to guide us in our selection. If given the opportunity to select/implement another ERP, I'd never do it without this kind of consultative guidance.

Jim Burtt
Title: Director Global Financial Systems & Proc..
Company: formerly at Guidewire Software, Inc.
(Director Global Financial Systems & Processes, formerly at Guidewire Software, Inc.) |

Make sure you start by capturing your own company's requirements in writing before you contact any vendors. Like Julie, we engaged an unbiased consultant to lead several workshops that elicited requirements, built cross-functional awareness, and united the team.

A common mistake is to focus on what vendors have to offer rather than what your company needs. Salespeople are very good at extolling their product's strengths and avoiding discussion of its weaknesses. Pinpoint any requirements that are unique to your company, document them in fact-filled use cases, and mandate that vendors demonstrate how their product can respond to them.

Herman Chandi
Title: VP Business Development
Company: Procurify
LinkedIn Profile
(VP Business Development, Procurify) |

On top of the advice stated in terms of assessing true needs and use case in your situation (for example, a mid sized accounting firm would generally be concerned with the process around billable revenue and have payroll/travel heavy expenses), there are many "ERP" options in the marketplace.

In addition to some of the traditional players you have listed, I've come across both Netsuite and Intacct as newer players. You can find many guides and resources on the strengths and weaknesses on all these solutions.

Simon Bulteel
Title: Director - Lead Consultant
Company: Cooden Tax Consulting
(Director - Lead Consultant, Cooden Tax Consulting) |

The most important aspect is to ensure that you make sure every cross section of your staff are engaged in the discussion. Several years ago I was involved in an ERP roll out for a company that operated globally, the consultants had only spoken to the US finance team and had produced a "Gold" version of how they thought the software should look. When myself and some colleagues from the European finance team were invited over for "testing" we found that the developed solution had absolutely no functionality for the European side of the business and reported European performance in USD, had little to no FX functionality and had nothing established for charging or accounting for VAT.

Suffice to say the roll out that was scheduled for two months time was delayed a further four months whilst the European business requirements were scheduled, a new version developed and then picked apart and redeveloped and finally rolled out on time (second time) but probably distinctly over budget.

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