ERP Statistics Infographic
Numbers don’t lie, but they might not tell the full story. When enterprises research ERP statistics, trying to determine if the software is right for their business, they might get discouraged after seeing that the majority of ERP projects surpass budgets and timelines. Or, they might be eager to get started after seeing the major improvements delivered by a new solution. More likely than not, they’ll at some point get confused, trying to figure out how to reconcile the business improvements with the potential pitfalls. It seems that the numbers are telling two different stories, but which one should we believe?
Actually, our consultants would argue that the numbers tell the same story, and one that we share a lot on our blog: ERP software optimizes business performance, but only when the system is implemented and used effectively. Below, we provide some ERP statistics that demonstrate both implementation challenges and software benefits. Then, we go behind the numbers, contextualizing the data to give you a fuller understanding of ERP software. Let’s begin.
ERP Project Challenges
Many manufacturers fear that their ERP projects will exceed their budgets and timelines, and given the above statistics, it’s no wonder why. But these numbers don’t tell us why so many projects experience delays and budget overruns.
As we explain in our summary of four ERP failure stories, software disasters are often the result of poor planning and communication. Businesses that go into their project with a clear plan, communication and an understanding of their requirements are on the path to an on-time, on-budget implementation. Defined business goals and regular meetings go a long way in getting your project team on the same page and protecting your business from scope creep.
What surprises most enterprises is that the biggest obstacle of all isn’t anything technical—it’s organizational change management. Too many businesses avoid putting together a change management plan, believing users will quickly adapt to a new system. Turns out, this is far from the truth. Users need proper training to utilize the software appropriately. Plus, they need to understand the reasons for the change, or they won’t have the motivation to learn how to use the ERP. Again, communication plays a key role. Keeping users informed throughout the project will encourage widespread adoption and prevent errors.
Those scary numbers aren’t so scary when you realize that it’s often communication and planning that hinders ERP success. Building both of these things into your project will help you reach your go-live date without breaking the bank. You don’t need to be a software expert to make this happen.
ERP Software Benefits
Let’s say your implementation still manages to extend your deadline or budget. There’s a good chance you can make up for this setback through gaining amazing benefits from your ERP software. As our statistics demonstrate, 95% of businesses achieve major improvements after their implementation through reducing process times, increasing collaboration and centralizing enterprise data. ERP consists of interconnected modules, allowing you to manage data across multiple departments within a single system. This goes a long way towards promoting efficiency, transparency and accuracy.
ERP software has the power to save you time and money. Process automation streamlines operations, so you don’t have to waste time on tedious tasks or manual data entry. This also enhances data accuracy, protecting your enterprise from critical errors. In addition, ERP gives users a full view of business processes. Epicor, for example, includes user-friendly dashboards that allow every employee to track and drill down into real-time data. With deep insights, you can discover new ways to optimize business performance. Furthermore, lean manufacturing tools help businesses cut waste and develop more cost-effective practices.
At this point, ERP software is essential for business success, especially for manufacturers, who are the top buyers and users of ERP. Supply chains are becoming more complex, and customer expectations are higher than ever. Managing processes from order to fulfillment requires the data integrity, comprehensive features and cutting-edge technology that only comes with ERP software.
In our infographic, we left out the most impressive statistic of all: According to Forrester’s Total Economic Impact (TEI) report, Epicor generates 264% ROI for manufacturers. Epicor quickly pays for itself by streamlining processes and delivering deep insights. If you follow best practices throughout your ERP project, you can expect amazing benefits that boost your profits.
At Datix, our premier consultants will ensure you get the most from your Epicor instance. We have specialized in manufacturing software for over 20 years. We go beyond ERP, providing CRM, eCommerce, integrations and more to help you improve processes from the top floor to the shop floor. From start to finish, our software experts work with you to optimize your business performance.
For ERP success you can count on, team up with Datix. Learn more about our ERP services and solutions by contacting us today!