Deploy a Vendor Portal as a Cost Effective Alternatives to ERP Upgrades
ERP upgrades can be an expensive, challenging and inflexible
One System to manage all Enterprise Resource Planning has been an intriguing concept the world over. Just the whisper of ERP upgrades grabs the attention of both IT and finance executives everywhere. However, its high implementation costs combined with considerably long deployment and configuration periods are frequently noted as major drawbacks. In the past couple of years, it seems like the time required to wait before you get the first usable results or return on ERP upgrades seems to be responsible for the weakening of ERP upgrade enthusiasm. As expected, there seems to be the inevitable shift occurring away from traditional ERP upgrades toward augmenting internal systems with more on-demand SaaS-based functional solutions.
Systems like Vendor Self-Service Portals are gaining market traction integrating Supplier Credentialing, Supplier Information Management, eProcurement, and eInvoicing functionality. In any case, deploying a vendor portal can provide a better return on investment than conducting traditional ERP upgrades.
Why On-Demand SaaS-based solutions are a better fit than traditional ERP upgrades in the modern economy?
- Quicker implementation and return –In the extremely competitive and demanding business world producing rapid return requirement easily promotes itself into the absolute priority. On-Demand core efficiency boosting systems can be implemented and exploited within months, and not years, which is the case with the ERP solutions. What’s, even more, important you can expect the return on your investment almost immediately. It is worth mentioning that finance-oriented ERP systems have quite a notorious reputation for taking years to both implement and exploit.
- Identification of potential savings over ERP upgrades–An amazing process efficiency is an invaluable benefit associated with the implementation of core functionality-boosting Also, these systems produce and help you easily identify substantial savings through thoughtful strategic sourcing, spend reduction, and cost saving. Public and private sector entities, which have implemented and used on-demand vendor portal systems can expect savings somewhere in the range between 20 to 30 percent.
- Costs of ERP upgrades –At first glance, upgrading an ERP system seems like an appealing idea, until you hit the wall of costs, which can easily include millions of dollars. You’re supposed to achieve substantial savings with the help of newly introduced rather than to fall into new money pits. Right? That’s why, with only at a fraction of the cost, on-demand core efficiency booting systems are much more attractive. You can get results almost immediately after their installation.
- Functionality – ERP systems are almost never a one-stop-shop set up to meet the full scope of all functional enterprise needs. That’s one of the most important reasons why the on-demand core process improvements applications get frequent business invitations to fill gaps associated with a multitude of enterprise functionalities