How to go about Cloud ERP selection

Cloud ERP selection can be a game changer for a business. Here are some steps that may help you manage the process better:

The first and most important point is to determine what you are actually looking for in terms of features and functionality and also the problems that it must resolve. Define your solution strategy in terms of financial, strategic and performance based parameters. You might end up getting lost in the plethora of options out there if you don’t.
The specifications of requirements need to be as detailed and as accurate as possible keeping in mind future business scenarios. If standard requirements are met to more than 80% and the new solution offers differentiated value- it might make sense to adopt it. Providing differentiated value could be a key unique selling proposition for your business.

Do not just base your purchase decision on the demo by the vendor as this is the time, every vendor will put their best foot forward . You need to create a script of key processes that want to track and you must control the demo and not the vendor. Ask for a demo based on a structure designed by you and compare the demo based on the same structure across all vendors.
It is important to evaluate the reputation of the solution vendor and the environment provider like the cloud service provider. Checking with current customers is a good way to evaluate the vendor experience and the solution.

The third and final step of Cloud ERP selection is financial evaluation, and meeting migration and porting requirements and implementation times.

The cloud takes ERP to a whole new level with the ability to do business anytime, anywhere, and from any device with internet access.

It is affordable, capable, easily accessible, with lower financial costs as well as minimal set up times.

The cloud is now a preferred deployment choice of ERP solutions for small and mid-sized businesses.

Monitoring performance: Easy access to solution performance data in the cloud is critical. You need to have cloud performance monitoring tools in place to monitor how applications are performing.
Lack of knowledge of services/applications: It can be easy to miss what is actually running without proper knowledge of applications residing on the cloud. There should be familiarity and competence in the solution and related applications to leverage it better.