Before looking for an ERP that fits with the company system, start analyzing the critical success factors (CSFs). CSFs are the factors which are obligatory to attain in order to be successful. A company can use CSFs to determine if a requirement is really critical for the overall success of the business. However, if a requirement is not relevant to a CSF, then it is not important for company success.

The first stage of going for any ERP selection will be the clear understanding and goals/objectives of your business and what achievements you want to achieve from your ERP software. Complete control, visibility, higher efficiency and maximum output is what is expected from a good ERP system so that it can cover up all the elementary functions of your business.

The first and foremost that organization looks out is the overall financial management process in business. With ERP, the overall function can be made organized and maintained quite feasibly. Starting from the cash management, various accounts can be maintained and tracked with labeling the serial.

Oracle Netsuite software is most widely used in the banking sector. This software comes with a low starting price of below 100$. Therefore, most mid-range financial companies heavily rely on this low-budget software system.