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Enterprise Resource Planning: Common Myths vs. Evolving Reality Harvard Case Solution & Analysis

Home >> Management Case Studies >> Enterprise Resource Planning: Common Myths vs. Evolving Reality

enterprise resource planning common myths versus evolving reality

Many firms have implemented a company-wide system called Enterprise Resource Planning (ERP) systems designed to integrate and optimize various business processes such as order entry and production planning across the business. Such systems are complex, and implementing one can be difficult, time consuming and expensive. Limited reports in the popular press suggest that the system is achieved with mixed success at best, some suggest that the rejection of the implementation threatens the existence of the company. Here we present an objective picture of ERP-systems, based on interviews with operational managers, IT professionals and consultants. The dominant reason for taking ERP was to simplify and standardize IT systems, and the second most common reason was to have access to accurate information. The cost of implementing a whole ranged from 1.5% to 6% of annual income, the software portion of the costs to be only the tip of the iceberg. Implementation of the time ranged from 12 months to 4 years. Return on investment in ERP was mixed - from 5% to 20%. For all the negative press ERP-systems have received our interviews showed that all the firms represented in our sample, it was nice to them, despite some problems. Successful implementation was characterized by meticulous senior management involvement, cross-functional implementation team, clear guidelines for measuring performance, as well as detailed plans for user training. It is important to note that not a single ERP system provides end-to-end solution, as most companies use different systems for specialized functions. In general, however, the future of ERP is very promising. "Hide by Vincent A. Mabert, Ashok Soni, MA Venkataramanan, Michael Ewing Source : Business Horizons 8 pages. Publication Date: May 15, 2001. Prod. #: BH060-PDF-ENG

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9 Myths of Enterprise Resource Planning

Enterprise resource planning (ERP) is a business management methodology and enterprise software platform related to the real-time collection, storage and interpretation of data for core business processes. ERP integrates various organizational systems and facilitates information flow among all business functions, with the aim of error-free transactions in production.

ERP software is a multibillion dollar industry, with ERP systems becoming more common in small and large enterprises. Despite its popularity, misconceptions remain about enterprise resource planning and its implementation in today’s marketplace. Let’s take a look at some of the myths.

Myth #1: ERP is too expensive

While high-end, innovative ERP solutions can still carry a hefty price tag, technical advancements such as mobile and cloud computing are expected to make ERP software more affordable. Also, some ERP software companies may offer variable pricing packages depending on usage.

Myth #2: ERP is only for Big Business

Although ERP systems were typically used by larger firms in the past, smaller businesses increasingly are able to explore enterprise resource planning due to the growing options for customization through technological innovation. ERP solutions come in various shapes and sizes. Choosing the right ERP solution, whether the business is big or small, is vital for effective implementation and longevity.

Myth #3: ERP only benefits executives and management

Yes, ERP can provide upper management with important information for decision-making purposes. But the benefits can spread to the entire business, improving operational procedures and boosting employee performance across all levels. Enterprise resource planning enables the widespread sharing of information, which may increase communication, improve project planning, cut duplication of tasks and lower purchasing costs, among other advantages. In other words, ERP solutions can benefit the whole company.

Myth #4: ERP solutions are only used to impress customers

If implemented correctly and utilized effectively, ERP solutions certainly have the potential to impress customers. However, that is neither their sole nor their primary purpose. Providing superior results through enhanced operational performance and improved quality of products and services can help companies to boost customer goodwill and strengthen client relationships.

Myth #5: One ERP solution fits all

It’s important to compare ERP solutions and select the best fit depending on the business requirements, trends, functionalities and features. For example, a company that produces one product likely differs in its enterprise resource planning needs from a manufacturing unit that makes a variety of products. Additionally, a manufacturing unit that produces metal goods will have different processes than a chemical plant. The specific attributes and capabilities sought from an ERP system should change depending on the particular business needs.

Myth #6: ERP, SCM, CRM and MRP are all the same

Enterprise resource planning (ERP), supply chain management (SCM), customer relationship management (CRM) and manufacturing resource planning (MRP) are different systems targeting different business processes. These systems can be implemented and integrated separately or in combination depending on company requirements.

Myth #7: ERP takes too long to implement

The time required for an ERP implementation generally will be dictated by a range of factors, such as the size of the business, the expectations of company leadership, the number of users, the degree of customization, the scope and technical complexity of the change, and the availability of resources. Successful implementation, therefore, could require a commitment ranging from several months to a couple of years.

Myth #8: ERP is an IT system and belongs in the IT department

Enterprise resource planning is a business asset that requires ownership and input across departments and up and down the corporate hierarchy, from hands-on workers to C-suite executives. So, while information technology (IT) is an integral part of ERP implementation and maintenance, each and every business function has a role to play in the success of enterprise resource planning.

Myth #9: An ERP system enables Enterprise Resource Planning

An ERP system facilitates enterprise resource planning. However, qualified professionals are required to configure the system to a business’ specific needs, which requires strong product knowledge and implementation experience. Additionally, although ERP solutions can improve efficiency and productivity on many dimensions, there are still business activities that require manual intervention and guidance.

By decreasing errors, saving time and cutting expenses, the implementation of enterprise resource planning can improve human processes in the workplace. But it does not eradicate the human aspect of those processes.

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Enterprise Resource Planning: Common Myths Versus Evolving Reality - Can an ERP system successfully become the backbone of company operations in the new economy?

Enterprise Resource Planning: Measuring Value

Mabert, Vincent A., (2001)

Enterprise Resource Planning Survey of U.S. Manufacturing Firms - This article contains the findings of a recently completed survey of randomly selected U.S. manufacturing firms. Objectives of the study were to determine the extent of use of packaged enterprise resource planning systems, important motivational factors, implementation experiences, and future directions. This study provides a view ...

Mabert, Vincent A., (2000)

Enterprise resource planning: Managing the implementation process

Mabert, Vincent A., (2003)

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Common ERP Myths

10+ Common ERP Myths and Misconceptions: How WP ERP Can Simplify the Experience

ERP- Enterprise Resource Planning makes it easier to manage and integrate a business’s core processes by using software and technologies. It automates key business components like Human Resource Management, Finance & Accounting, Customer Services, and other day-to-day activities. ERP software reduces the manual workload of the company as a whole and accelerates its workflow to a great extent.

But a good number of people are deprived of these functionalities because of the myths and misconceptions built around ERP. One of the most common ERP myths – it is only for larger companies. That’s not true, obviously.

In this article, we’ve dispelled such common misconceptions about ERP in order to guide you to use ERP software to automate core business processes. Keep reading to debunk the common ERP myths with us and find excellent ways to simplify your business experience with WP ERP.

10+ Common Myths About ERP Software

Misconceptions about ERP

ERP software is improving the productivity and efficiency of the businesses that use it. Various research and studies speak of the efficiency of ERP solutions in an organizational environment.

Organizations are achieving their goals through ERP solutions, such as operational efficiency (96.6%), reporting and visibility (85.7%), updating their technology stacks (80%), and increasing competitiveness and growth (68.4%). Panorama Consulting Group, 2021

So, it’s evident that ERP is helpful for your organization. All you need to do is ignore the common ERP mistakes and choose the right tool that can serve your purposes. The following sections dispel all common ERP myths and unveil the truth about them.

1. ERP Systems Are Not Affordable

The cost of ERP systems varies depending on many factors like the number of employees you’re managing, and the number of modules, extensions, and features you’re using. So, it’s not always true that ERP systems are expensive. You can choose a suitable ERP tool that aligns with your budget and business needs at the same time.

Moreover, an effective ERP system saves a lot of working hours. It also reduces the chance of human error to almost zero. These things have a monetary value that can be added to the price of the ERP system. If you consider the outcomes of using ERP software, it is not too much expensive as most people think.

2. Pre-made ERP Systems Are Bad

A large number of people believe that building a custom ERP solution is better than buying already available ERP software. They rarely realize that custom ERP tools involve higher development costs and require highly experienced developers in the team. And you will face serious problems when any of the members of the core development team leaves your company.

On the other hand, you will get continuous support from the ERP solution provider if you buy their product. So, technically, readymade ERP systems are more affordable and hassle-free.

3. Only Larger Companies Benefit from ERP

Common ERP Myths- ERP is suitable for only large business

ERP systems are only for larger organizations- this is one of the most exercised misconceptions about ERP. Yes, there was a time when only bigshots with substantial investments could afford to integrate automation into their business processes and reap the amazing ERP benefits . With the advancement and availability of modern technology, ERP solutions are now affordable even for smaller companies.

Since you can choose a personalized plan, you can pay as you go. That means if you have 15 employees, you can choose a plan that works for only 15 users and charges less. You’ll have to pay more for more users. Thus, ERP solutions can help businesses of any size.

4. ERP Is Suitable for Certain Teams

Some people think ERP is meant to benefit only certain teams like the HR department and CS department. In reality, ERP has the potential to help you manage every team in your company. All you need to do is implement it the right way. Integrate the same central system for each relevant department. ERP can work as the only management hub across all teams.

5. Support is an Additional Thing

Almost all paid ERP software comes with a responsive support team. But, some ERP users tend to go for the free version of the software, considering support as a secondary option. Their idea is right but only for the short-term. You may face issues while using the software in the long run. So, it’s wise to think long-term and buy the pro version to avail uninterrupted support feature.

6. Personalization Is Difficult

You can choose extensions and modules that are necessary for your business. Take WP ERP as an example. We have multiple extensions under our HRM module. You can pick the one you need and pay only for that. We have more useful extensions under other modules like CRM, Accounting, and Project Management. You have the liberty to select or omit any of the extensions. So, personalization is difficult- this is surely a myth.

WP ERP Pricing Page

7. Implementation Needs External Workforce

It’s really an advantage to have IT professionals inside the organizations. But, it’s not mandatory in most cases. Anyone with standard computer knowledge can configure ERP software with ease. Moreover, your ERP solution provider should provide all required documentation and technical support during the implementation phase. Even most vendors let users test a trial version before final deployment.

You should choose a competent partner who agrees to assist in the ERP implementation process. If you get support from the vendor, you won’t need an external workforce to integrate an ERP system into your business and manage the processes smoothly.

8. ERP, MRP, SCM & CRM- All Are the Same

Manufacturing resource planning (MRP), supply chain management (SCM), and customer relationship management (CRM) are all different from ERP. But, an ERP solution can integrate the centralized system with other tools that support MRP, SCM, CRM, or any other management tool. For example, WP ERP has core ERP features along with CRM, Accounting, and HRM extensions.

9. Takes Longer to Come into Effect

ERP system implementation

Old ERP systems used to take significant time to reach a working level. But, modern ERP solutions are easy to set up and become ready right away. Since most of the ERP solutions are now cloud-based or SaaS, they will start working as soon as you provide the necessary data. The only prerequisite is a fast internet connection.

10. ERP Is to Impress Your Customers

When you implement an ERP system into the business, it streamlines all your business operations. It ultimately contributes to increasing customer satisfaction. But the primary goal of using ERP software is not to impress customers. In fact, it focuses mainly on managing internal business processes. Some ERP tools work hand in hand with Customer Relationship Management, in that case, the use of ERP involves customers directly.

11. ERP ‘does everything’ for You

No tool can do everything for you. ERP systems only facilitate the business management process. You need to have smart people at the office who can use the tool and provide information to the system when necessary. For example, WP ERP has everything to Streamline Complex Business Activities . But you need to know how to use the resources it offers.

Learn how to use WP ERP from this use case ➡ How weDevs is Using WP ERP.

WP ERP for Small to Medium Companies

WP ERP for small and medium businesses

Every small or medium organization finds it difficult to manage all their employees, keep track of revenues and expenses, and provide customer support. That’s where WP ERP comes to the rescue for WordPress users. It is one of the leading plugins that have the three most needed modules to manage a business smoothly. Three modules are as follows:

Each module comes with essential extensions that offer great functionalities for WordPress users who are looking for ERP software. Read the following section to know more about the modules and extensions of WP ERP features.

Supercharge Your Business with 30+ Modules & Extensions

The core ERP plugin is free with basic HR, CRM, and Accounting modules. But, you need to upgrade to the pro version to get additional and customizable modules depending on your needs. Let’s find out how the three ERP modules can help your business grow.

WordPress HR Plugin : WP ERP offers a simple and straightforward employee management tool to manage the various functions of the HR department. With WP ERP, you can see employee details, leave requests, employment history, performance logs, company-wide announcements, and more!

This HR module has 12 extensions to enable all the HR functionalities from your WordPress dashboard.

Know details from here ➡ WP ERP HR Extensions .

wp erp hrm module

WordPress CRM: Now you can track and follow up on customers’ queries efficiently using WordPress CRM. It has made building sustainable relationships with your customers easier. You can prioritize users based on life stages and respond to important customers urgently. WordPress CRM also has an in-built email communication tool to facilitate your work process.

This CRM module has 13 integrations and extensions to take customer relationship management to the next level.

Know details from here ➡ WP ERP CRM Extensions .

WordPress Accounting for Non-Accountants : Accounting is quite intimidating to people with no business background. WP ERP introduced a module to enable non-accountants to understand and manage trial balances, income statements, ledger reports, debits, credits, and more. You can even make data-based decisions after analyzing the graphical interface.

This Accounting module has 7 extensions to help you manage account receivables, account payables, bank balance, and overall income and expense.

Know details from here ➡ WP ERP Accounting Extensions .

Simplify Your Experience with WP ERP

We’ve debunked the common ERP myths and misconceptions throughout this article and explained how WP ERP can help manage your business processes. Now, it’s your turn to decide if you want to ignore these misconceptions and start using an ERP system. If you run a WordPress website, WP ERP has the potential to simplify your experience while handling complex management activities.

You can subscribe to our newsletter to stay updated on exclusive ERP and WordPress-related content.

enterprise resource planning common myths versus evolving reality

About  Tanvir Faisal

Md. Tanvir Faisal is a Content Writer at WP ERP with 4 years plus experience in Content Writing, Copywriting, Proofreading, and Editing. He focuses on writing informative content that draws social media attention and enhances search engine visibility. To date, he has successfully developed useful content for many websites across all formats.

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6 Top ERP Myths Busted

Enterprise resource planning (ERP) can be a powerful tool when businesses leverage it to manage data for core business processes. However, several common ERP myths can discourage companies from making the investment. To understand what’s true and what’s not true about ERPs, explore these top ERP myths and discover why they’re false in real-world applications.

Myth # 1: ERPs Are Only for Big Businesses

One of the top myths about ERP is that the software platform only works for large businesses. People may think enterprise resource planning is only valuable for large-scale operations. In reality, enterprises of all sizes can benefit from ERPs. As the technology continues evolving, it allows for customization on multiple levels. 

While ERPs were most often a solution tailored for larger businesses in the past, today’s ERP options can work for everyone. Designed for versatility and adaptability, modern ERPs can deliver the specialized capabilities smaller enterprises and larger businesses require.

Myth #2: ERPs Are One-Solution-Fits-All

Every enterprise has unique needs and operation strategies, so a tailored approach to management solutions is crucial. Rather than being one-size-fits-all, ERPs can be highly versatile for individual business needs, and companies should implement software that matches their unique requirements.

When you select a platform for your operations , take the time to compare your options and evaluate based on business trends, industry specific features, functionalities and requirements. You want to find software that fits your business goals, production requirements and industrial needs. Each business’s ERP can look a bit different depending on its specific applications and requirements.

Myth #3: ERP Is Too Expensive

Many businesses think ERP’s are too costly to implement, but it can deliver a high Return on Investment (ROI) . Getting an ERP is a long-term investment that can reduce inefficiencies and optimize processes across the enterprise, leading to many savings for years to come.

One high cost that can contribute to an overall more expensive project is the time put into crucial decision-making. Streamlining the decision-making processes between management and key stakeholders and optimizing the enter process can significantly reduce costs during implementation.

Myth #4: ERP Only Benefits Executives and Management

Another common ERP myth is that the platform solely benefits top management. ERP does deliver sizable advantages for executives and management, providing valuable insights into processes as they make vital decisions in the future. 

However, these advantages extend across the enterprise , optimizing processing efficiency, data sharing and management and other critical operations throughout all levels of business. By facilitating streamlined information sharing, ERP software improves company-wide communication, reduces inefficiencies from duplication and miscommunications, optimizes project planning and helps reduce operational costs.

Myth #5: ERP Implementation Takes Too Long

Many enterprises think of ERP as an arduous process that can take years and considerable resources to implement. In reality, these drawn-out timelines are typically due to issues with planning and scope-setting rather than an intrinsic part of the implementation. To effectively implement an ERP system , setting the proper scope and objectives and identifying available resources is critical. 

With effective management, the implementation process can take a few months to a few years, depending on the size and scale of the project. When evaluating options for implementation, businesses should consider time and resource constraints to identify the best opportunities for their unique needs.

Myth #6: ERP Belongs to IT

While it may seem like ERP is solely an IT concern, it provides value for and requires engagement from the entire organization. An ERP platform is a business asset that necessitates ownership and input from areas across the company and from various levels and departments. After implementation, it serves as an integral part of daily business operations, and enterprises should run it as a business initiative staffed by the best-qualified people. 

When businesses recognize an ERP’s potential and center their operations around it, they can get maximum value from the platform. Implementing it as a central part of operations allows the ERP to provide sustainable use that can adapt to changing needs, streamline processes and promote business growth.

Optimize Your Business With ERP Solutions From Multiview Financial Software

Take advantage of what a robust ERP can offer for your organization when you partner with Multiview. Our fully scalable ERP solution has an optimized design for rapidly growing small, medium and large businesses. With our ERP, you can get the versatility and scalability you need for critical processes across your organization.

For more information on the unique products we offer for your business needs,  request a Multiview product demo  today.

Multiview Financials ERP provides our clients with a comprehensive software suite that empowers their finance teams. Request a demo today!

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As a business leader, choosing the right enterprise resource planning (ERP) solution can be one of the most important decisions you will make for your organization.

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