Cost Estimate and Accounting in ERP
February 12, 2025
An economy consists of many sectors. However, infrastructure is known to be the backbone of any economy. Roads, railways, electricity, and banking services are the very bedrock on which the modern economy grows. Until and unless a nation has robust infrastructure, any other industry will find it difficult to grow and prosper. In this article, […]
Drugs have been a moral menace to many societies for many years. Right from the time, the British East India Company corrupted an entire Chinese generation to the modern world where this epidemic is destroying South American nations, the curse of drugs is causing mayhem. This has led many governments in the past as well […]
The Scandinavian countries are often seen as role models for welfare states. These countries are known for having very high taxation rates. However, many experts claim that these countries also have mechanisms to ensure that the money collected as taxes is plowed back to the people. Lately, Finland has been in the news for experimenting […]
Business Process Improvement programs have become the major tools for Organizations to keep working on their internal operations to enhance the operational efficiencies, to implement new processes in line with business requirement and to eliminate redundancies and wastage. When the Organizations used to be managed and run based on hierarchy and centralized decision making, the […]
The Global Race Between Cities for Investments Cities worldwide are in a global race for investments and this is being driven by economic, political, demographic, and social reasons. Considering the fact that the future of the world would be urban and cities would be the engines of the global economy, it is not surprising that […]
ERP systems are complex, time consuming and expensive. Instances of failure of ERP projects abound including some high ticket failures such as Hershey, (largest chocolate maker of USA), where a SAP implementation was abandoned after three years. There are various “Dos” and “Dont’s” effecting success or failures of an ERP implementation. Some of critical success factors, needing focused initiative, are appended below:
Critical failure factors: Critical factors for failure may be defined as contrary to critical success factors. Some specific concerns of failures are mentioned below:
Success and failure factors encompass pre-implementation planning, phases of implementation and managing post implementation scenario. There are many instances of failures resulting bitter legal battle with the vendor. Although vendor plays an important role, organisations are mostly responsible for success or otherwise of the project.
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