5 simple tips that will help you compare between the various ERP vendors for education.

ERP (Enterprise Resource Planning) systems have been widely accepted by institutes all over the educational industry as they provide comprehensive solutions & their ability to automate processes. Today, we can see many ERP players in the market. However this is causing complications to the institutes looking to choose the right vendor; may they be looking for a 360 degree automation or just a revenue management system.

Hence today we have come up with 5 simple tips that can help you compare between the various ERP players available in the market without any confusion.

So let’s get started!

  • Requirements– For any educational management, the primary & most crucial step is to understand the requirements of all the stakeholders in any institutes. Because for an institute to run smoothly, it is very important that every stakeholder functions efficiently at different levels.

Once the requirements are in place, they need to look for a vendor who can provide specialized & customized solutions. One important factor the decision makers needs to focus on is selection of vendors who can provide flexibility of choosing their own modules.  Any good vendor will only focus on your institutional needs instead of forcing you to buy the entire software.

  • Research– Along with the necessities, it is important to do their basic research about the current market status & recent advancements in the EdTech space. This is significant for a couple of reasons. One, they gather basic information about how the EdTechs can provide relevant solution to the institute. Other advantage is that, they can get a rough idea about the current market status which can help them draw a budget line.
  • Budget– Once the management is done with its basic research about the market, they are now somewhat in a position to come up with a tentative budget. But they can go a step further & be smart to learn from the experiences of other institutes. Talking to the other institutes that have adopted such softwares can give them best insights. They can get a good knowledge about what to expect from a vendor & how to meet the requirements in the best possible way.
  • ROI– Education institutes unlike other businesses, have a very limited budget for any kind of technical investments. Hence they need to make wise decision before investing in any of the technologies. They should calculate the expected ROI from these assets. Doing this can help the institutes use their finance efficiently, effectively & grow eventually.
  • Demo Requests– Once you are done with your research, have your requirements in place & finalized on your budget; the next important thing you should do is talk to at least a few of the vendors providing similar solutions that you are looking for. It might happen that the authorities are unable to dedicate sufficient time for this process. In this case, the best they can do is ask for demos from these vendors. Demonstrations can give them a brief idea about how these softwares work. You can do a competitive analysis after having a look at these software which can help you make a better decision. Involving the stakeholders who will be majorly using these softwares in demo meetings, will impel them to make faster & accurate decisions.

Majority of the institutes always saw the ERP vendor selection as a grinding process & made them procrastinators on grounds of technology. But now, with these few easy tips that we have shared, you can select your ERP vendor smartly, quickly & with minimum efforts.

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