Implementing a global ERP system in a large enterprise demands that the project often runs into millions, given the required investments in terms of consulting, licenses, implementation and training needs that need to be considered to deploy such a solution fully.

So what measures can one take, when selecting and implementing an ERP solution to decrease the possibilities of a failure? Here are four recommendation that ERP experts have found to be useful:

1. Select an ERP solution that meets your business’s needs

Being a capital intensive project, one that involves considerable investments both in terms of time and money, it would be useful to create a check list of business requirements with feedback and remarks from key department heads and of course the management.

Creating a detailed list of department wise functionalities is a must. One could categorize the requirements it into (V- Vital, E- Essential, D- Desirable) and treat them in order of priority. A well-established list of requirements will result in minimizing the total cost of ownership by managing the budgeted resources (time, capital, resources) the optimal way possible.

2. Evaluate partners with extreme care. Selecting the best vendor possible is a critical part of ERP success it could be a good idea to hire an ERP advisory which can conduct a comprehensive ERP evaluation and selection in an unbiased way before recommending the best vendor for a particular client. It’s important that the client gets a commitment from such advisory firms to ensure that they would be able to take ownership for the complete delivery and adoption of the solution across the enterprise. Such advisory companies may like to offer specialized Program management services.

3. Ensure top management buy in – It is vitally important that executive or top management is closely involved during the entire implementation process. It is a good idea to set up a steering committee for the project which should include key stakeholders from the company, who would from time to time, discuss and measure the progress of the project.

4. Build and follow a roadmap. “A roadmap not only gives visibility to the planned activities but it also helps in managing and executing large, complex business transformation projects like ERP through a sequential flow of well-planned phases, so that there is a smooth execution of the project.