Total Cost of Ownership (TCO) implies to an estimation of financial expenses of a business organization that includes direct investment costs and hidden costs of a system. Total Cost of ERP Ownership encompasses the cost of procuring hardware and software, implementation, data migration, in-house training, support system and other hidden costs. Many business organizations commit a serious mistake underestimating the hidden costs. Hidden costs often contribute 20% of the total cost of ERP ownersh
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ERP (Enterprise Resource Planning) has provided an important breakthrough in IT applications for the overall development of business organizations of any size. In the context of ever changing economic scenario and highly competitive market, business organizations are fast implementing ERP for streamlining of different functional units integrating them in a common platform. The sole objective of ERP software is to integrate all the business functions and operations through synchronized data trans
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Most of the business organizations overlook the hidden costs of ERP implementation or underestimate it and ultimately land into disastrous situations. The multiple benefits of ERP implementation to improve work efficiency and profit margins of any business organization are much talked about often bypassing the hidden costs of implementation. ERP costs during and after implementation often surpass the estimated amount by a higher percentage unless there is meticulous planning and calculation befo
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Enterprise Resource Planning (ERP) consists of basic key features to help in effective integration of all the functional units of an organization. The main objective of ERP is to maintain uniform data sharing and communication between the different functional units resulting better quality of work optimizing time and cost. Most of the ERP vendors in the market provide the basic integration features, while some may offer some variations enhancing the domain of its functioning. Tailor made and cus
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ERP software system has become indispensable in many organizations in order to outperform in the competitive market, but it cannot create a magic unless it is properly implemented and utilized. Organizational requirements vary and so the ERP features. ERP software selection must be considered seriously based on the financial capacity and requirement of the organization. Organizations should go for ERP implementation for long term prospects and not to achieve short term goals. As ERP implementati
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