Selecting a new ERP system can be time-consuming and risky — but with the right strategy and processes, you can turn your selection into a positive change. Here are the five tips to help your identify the best solution for your company.

1. Know your goals. Understand the key pain points for your company and the areas where a new ERP system will give you the most bang for your buck.

2. Involve other users in the planning. Get buy-in for the project from other users; listen to their needs and ideas for improvements from the system. Your ERP project will be more successful in the end if people feel ownership and involvement in the process.

3. Be realistic about your resources. If your team doesn’t have sufficient experience or enough time to participate in an implementation, consider using your implementation partner to fill in the gaps. Your upfront implementation costs may increase — but ultimately much less than a failed or stalled implementation project.

4. Don’t underestimate cost projections. Make sure you have considered costs for all aspects of an ERP project: software, maintenance, subscription (if SaaS), implementation, training and any add-on components or partner products needed. And then check again to make sure you haven’t missed anything.

5. Start small, then expand. Even though ERP software suite can be extensive, as you learn about all of the solutions capabilities, choose the critical components first then evaluate “nice to have” functionality later. This will keep your initial cost and implementation down.