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Last month, SAP announced it would be cutting back on the development of its Business ByDesign cloud platform. Stuck with a solution that is no longer supported, many Business ByDesign customers are finding themselves in the ERP software selection stage yet again – or to be more precise, the data migration stage.

In response to SAP’s announcement, a number of ERP vendors have stepped up to meet the needs of Business ByDesign customers by offering incentives for organizations to switch cloud platforms. NetSuite, a provider of cloud-based ERP software, has offered Business ByDesign customers a free, one-year subscription and free data migration into NetSuite. Following suit, Oracle, has offered Business ByDesign customers a free, one-year subscription to their cloud platform. Quite a few other ERP vendors are reaching out to Business ByDesign customers as well.

Faced with so many options, it can be overwhelming for executives and decision makers to select the right solution. Following are three tips for selecting the right cloud ERP software for your organization:

1.   Define your business requirements. Even if your organization has already defined business requirements for its current solution, it’s important to review these requirements and ensure they are still true of your organization today. Not every cloud ERP vendor will meet the needs of your organization so having a detailed list of business requirements when entering the selection process will help your organization focus on only the most appropriate solutions.

2.   Evaluate your internal skillset. Many organizations do not have the right skillset to support a cloud ERP system and the integration and security concerns that go along with it. However, these concerns should not dissuade organizations from implementing cloud ERP software if the challenge is met with adequate staffing.

3.   Understand the total cost of ownership. If an ERP vendor is offering a free, one-year subscription to its product, this may sound enticing but the cost will certainly increase down the road and may eventually exceed the cost of any other cloud platform on the market. Choose wisely and look at the big picture so your organization can receive the highest return on its investment.

Whether your organization is switching cloud providers or moving from on-premise to the cloud, it’s important to consider the tips above. ERP software selection is most successful for organizations that engage a third party resource to help them understand exactly what the cloud ERP market has to offer.

Learn more by downloading A Comparison for Five Leading SaaS and Cloud Vendors.