Purchasing an ERP system is a major process that must be handled with a substantial amount of care. Procuring a solution is simply one of many crucial steps. Organizations that experience any setbacks during the implementation, user deployment, customization or training process will struggle to yield a strong return on their investment.

Unfortunately, many companies overlook all the processes required of an ERP project and have fallen victim to time and monetary budget issues. According to a study conducted by Panorama Consulting, the average ERP project cost roughly $7.1 million and lasted 17.8 months. In 2012, 61 percent of respondents said the process took longer than planned, up from 54 percent in 2011. 

Changes in cost and timeliness of installation are due to a number of factors, including the current overall economic landscape.

"While costs, durations and benefits received fluctuate year to year due to economic conditions, implementation trends and data set make-up, the facts remain: an organization is more likely to surpass its cost and timeline expectations and receive less than half of the benefits it expects than it is not," the report says.

Companies that partner with an ERP consultant will be able to mitigate a number of these risks and ensure they maximize the potential of their projects. By refusing to follow the "set it and forget it" philosophy, organizations can establish long-term partnerships that guide them through every step of the process. 

Many projects are long and arduous, but working with a professional consultant and selecting a trusted product such as a Microsoft Dynamics NAV system, companies will be able to streamline a number of processes and follow best practices throughout the procedure. A trusted Microsoft business solutions partner will be able to assist any business with its project.