Project-based ERP Buyer’s Guide
The growth engine of the world’s economy has shifted from manufacturing to project-based, peoplecentric services businesses. These businesses rely on project-based Enterprise Resource Planning (ERP), also known as Services Resource Planning (SRP), applications to manage the financial aspects of the firm. These solutions automate core business processes such as quote-to-cash, resource and talent management, time capture and billing, and provide the real-time visibility necessary to improve organizational efficiency and effectiveness.
Globalization, centralization, modernization and regulatory compliance are the key drivers for continued ERP investment among large project-based organizations. But the service industry is dominated by small and midsize firms; their growth has consistently outpaced the overall market. According to SPI’s extensive service economy research, merely 5% of more than 1,500 organizations surveyed have not yet invested in an enterprise financial management system. Only the smallest organizations still rely on spreadsheets to manage finance and accounting. Small and mid-size service-oriented firms are buying new project-based ERP systems to replace legacy, on-premise solutions and to consolidate a hodgepodge of point solutions and spreadsheets onto a single platform.
This project-based ERP Buyer’s Guide provides an overview of important trends, business processes and selection criteria to help project-based businesses evaluate and choose ERP applications, which will provide the level of insight, management and control needed to improve productivity and profitability.