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Increased productivity is just one of the many benefits derived from ERP systems, according to a new white paper. The paper, entitled Conducting a Cost-Benefit Analysis for ERP, outlines numerous benefits to companies who implement enterprise systems. Building the Economic Case for ERP Systems If you plan to propose an ERP system for your company, it’s important to build a solid economic case for its implementation. Conducting a cost-benefit analysis can help you easily articulate the financial benefits to your company in return for their investment. The first step in the process is to gather the costs of implementation. Obvious costs include acquiring the system, customizing it, testing it, training the staff to use it and upgrading it as necessary. Cost should be calculated on a monthly, quarterly and annual basis for comparison. Next, assess the economic returns. The paper suggests that the returns on investment include: Streamlined procedures Greater intelligence Increased productivity Greater reliability Improved reporting One way to build your case is to focus on any one of these issues that may be exceptionally germane to your company. For example, if your current system lacks a robust business intelligence reporting system, emphasizing the benefits to your company of […]