Are you a mining, equipment, technology, and services (METS) business looking for an ERP System? Here’s a guide to choosing the right solution for you.
So, you’ve recently discovered what Enterprise Resource Planning or ERP Systems are and what it means for a business in the mining equipment, technology, and services (METS) sector.
In our previous posts and articles, we’ve elaborated on all the benefits of digitalisation in the mining industry and the steps to modernising METS businesses. Implementing technologies such as ERP systems is one of the key milestones in this journey
However, finding the right solution for you is no simple feat. With the complexities of the industry, choosing an ERP system will require a thorough evaluation. Here are 5 tips for choosing an ERP system for your METS business:
1. Do your research on ERP systems
If you’re reading this blog right now, then this means you’re probably at this first step. It’s important to understand the ERP market first and how this technology works.
While there are plenty of online resources with helpful information on this subject, you may also contact ERP providers and consultants to answer questions that are more specific to your business. The AlphaBiz Solutions contact line is always open to all looking to gain more clarity on ERP matters.
2. Assess your organization’s ERP readiness
There are many factors to ERP preparedness. Businesses must consider many things such as their budget, their current technologies, their workflows and processes, their current databases and how these will be migrated to the ERP software, and much more. For mining companies, there are extra considerations if there are legacy systems in place.
Assigning a team to go through these considerations and make a case for this undertaking will be helpful to create an extensive assessment.
One of the things that can be neglected when assessing an organization’s ERP readiness is the workforce. Businesses must ask if the employees are ready to adopt ERP technology or not.
In Deloitte’s Tracking the Trends 2020 report on the mining industry, Steven Walsh, a consulting partner to Deloitte Australia said “An effective digital initiative requires mining companies to win the hearts and minds of people throughout the organization or the transformation will often not last.”
He continued, “To do that, one must find a balance between delivering short-term value to those at the front line while tackling some of the bigger organizational issues desired by the executive. Listening to the small things that your people value can pave the way for the big things to come.”
3. Define your ERP objectives
No plan can be achieved without clear objectives. What goals do you wish to achieve with your ERP system? Some of the common objectives that companies list down would be to streamline operations or to centralize business data.
These objectives will vary according to your needs and some may even be targeted towards specific problems that you would like to address. We recently wrote a piece on how ERP systems solve challenges in the METS sector which included goals such as improving mobility and connectivity in the industry.
4. Identify your ERP requirements
Once you’ve assessed your ERP readiness and defined your objectives, it’s time to go into the specifics of what you’re looking for in an ERP system.
ERP systems offer a myriad of features and functions across all facets of the business, from accounting to human resource management, or from inventory management to sales.
Take some time to drill down what exact features you need for your METS business to thrive.
5. Review your existing technologies
In the aforementioned report by Deloitte, it was stated that optimizing your technology architecture is one step in addressing the challenges of the mining industry. But first off, you must understand what your technology architecture is and how to take it to the next level.
According to IGI Global, Technology Architecture can be defined as “a framework for building an enterprise including networking, hardware, operating systems, database management systems, and application development standards.”
Before implementing an ERP system, you must consider all the technology and software that you are currently using. Identify which you would like to discontinue, keep, upgrade, and integrate with the specific business management solution that you will find.
These simple steps are not limited to those in the METS sector, but also any other business looking for their ideal ERP solution. With these tips in mind, you will be off to a clearer and more strategic start.
Are you a business looking for an ERP vendor?
AlphaBiz Solutions is one of the leading ERP providers in Western Australia and we’re ready to give you the best products and services to help your business succeed. Reach out to us here.