Needs analysis on the important features of your business for accounting software or ERP software is needed. Here are six reasons you should consider the needs analysis before selecting accounting software:
1. Maximize Return on Investment. It isn’t always possible to determine ROI from software implementation. You can estimate and maximize your return on investment during the needs analysis. A series of studies from Nucleus Research, a leading researcher of technology return on investment revealed ROI ranging from 103% to over 500% in four companies that implemented ERP systems. A careful needs analysis will reveal the areas of your business that will produce the best and quickest ROI.
2. Reduce Your Investment With Savvy Decision-Making. Selecting ERP software is always about tradeoffs. Since no product does everything, you give up some features to get others. In a well-done needs analysis, you gather information you will need later to decide which features you will implement and which you will give up to lower your investment.
3. Plan For the Future. Software packages are often implemented in stages. Preparing for future additions to your system makes your implementation and software purchase more effective.
4. Prepare For the Implementation. Thorough needs analysis will help prepare your employees and the vendor for issues that may come up during implementation.
5. Get Everything You Can From ERP. If your company doesn’t keep up with what ERP systems can do-and most don’t-a needs analysis is a good place to learn about the features available. A good needs analysis covers several hundred features and types of software in detail.
6. The Gladys Principle. Gladys was manager of a restaurant. If there were 100 things to be done and her employees did 99 of them before Gladys came in, you could bet two things:a) The one left undone would be the first one she noticed, and b) It was the most important one (to Gladys) of all the 100 items. We observe that it’s pretty easy to identify what’s wrong with your current accounting or ERP software. You have been living with the inadequacies of your system for a long time. It is easy to assume that the new system will surely do everything the old system did, and do it better. Unfortunately, this isn’t a good assumption. You need to document all needs, including minor needs and things that seem trivial. If you don’t it’s guaranteed that the new system won’t have something that the old system did, and that one thing will be the first thing the CEO notices.
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