ERP ROI Calculator
When you're considering a new software solution—especially one that requires a significant investment—the first step is to determine your current situation to determine the potential return on that investment. What is the potential ROI of a new cloud ERP solution for your company? Answer these 13 questions to determine whether a modern cloud ERP makes sense.
Fill in your personal details
QUESTION 1 of 13
How much time and effort does it take to perform a financial audit?
Why this is important - Having the necessary information for an audit immediately accessible, including signature approvals, audit logs that document changes and deletions to transactions, and demonstration of segregation of duties by assigning minimum access rights to users by roles minimizes the time it takes for audit preparation. These features and more are part of a modern ERP solution.
Please make a selection.
QUESTION 2 of 13
How confident are you in the completeness and accuracy of your financial audit documentation?
Why this is important - Any doubt about the completeness and accuracy of your documentation when preparing for an audit indicates a failure in your preparedness and process.
Please make a selection.
QUESTION 3 of 13
How long does it take to perform a month-end close?
Why this is important - For some companies, it can take more than a week to close their books for the month. A modern ERP can significantly reduce the time to close the books for the month, sometimes reducing the time from days to hours.
Please make a selection.
QUESTION 5 of 13
What are your existing ERP costs relative to your budget?
Why this is important - On-premises ERPs can eat up a lot of your capital for investments in other areas of the company, plus it is often a strain on your personnel who have to maintain the hardware and operating systems, perform backups, and ensure continuous operations. A modern cloud-based ERP can save on those costs, plus provide automatic updates, security, and backups for you.
Please make a selection.
QUESTION 6 of 13
How good is your security and compliance monitoring and reporting?
Why this is important - Some companies that suffered a ransomware attack remained unable to retrieve any of their data, even after they had paid the ransom. Other companies that suffered attacks that exposed Personally Identifiable Information (PII) had fines and penalties amounting to hundreds of millions of dollars. Awareness of every avenue a bad actor can take to access your system (your "attack surface") is critical to protecting yourself from a security breach. Most cloud providers can provide better protection from a security breach than most companies can afford. While the cost of security measures can be calculated, the cost of a security breach cannot. Be aware of the potential costs associated with a breach.
Please make a selection.
QUESTION 7 of 13
How confident are you with your security and compliance efforts?
Why this is important - Security is more than virus and ransomware protection. It includes internal safeguards within the software application (for example, user/role permissions, segregation of duties, and security safeguards on remote access by application programming interfaces), network security (for example, after-hours remote access, intrusion detection, virus detection, and high availability), and building security (for example, secure access to the building, secure access to the computer room, secure access to terminals and devices that can access business software). This question determines the confidence that your security measures keep your software safe from internal and external bad actors and comply with applicable laws and regulations for your industry.
Please make a selection.
QUESTION 8 of 13
How much time and effort does it take to upgrade your current ERP software?
Why this is important - If you currently have an older, on-premises ERP, your IT staff might postpone updating the software because it might break something, or the existing hardware or operating system can't handle running the new software. In fact, some companies never update their software. These companies miss out on many new features and functions in the latest releases, including security patches. These ERP updates often include new features that can replace third-party add-on products that companies are still paying for because they refuse to upgrade their software. Updates to most cloud-based ERPs happen automatically, so you are always on the current release and taking advantage of all the new features available in the software.
Please make a selection.
QUESTION 9 of 13
Which areas do you feel you need the most improvement?
Why this is important - As companies grow, they often retain their old, familiar processes, such as counting inventory, pick-pack-and-ship, and printing labels manually. Modern ERP systems can reduce the time required to perform manual processes, such as automating timesheet entry or supporting OCR and RFID scanners to accelerate inventory counts, order fulfillment, and "dock-to-stock." Also, consider that more efficient order fulfillment means you can grow your business with the same number of employees.
Please make a selection.
QUESTION 10 of 13
How do you measure your customer satisfaction?
Why this is important - Customer Satisfaction is a valuable way to measure your performance and reflects how your customers view your company's products and services. There are many ways to measure your Customer Satisfaction. The more methods you use, the more accurate your measurement is.
Please make a selection.
QUESTION 12 of 13
How much time and effort are spent onboarding and training new employees?
Why this is important - Bringing on a new employee can be difficult using manual processes. Onboarding a recently acquired company using manual processes can be almost impossible. The automation features of modern ERP systems can reduce the time and costs of onboarding by streamlining the process.
Please make a selection.
Generating Your Results...