One of the most difficult challenges companies face today is the selection and deployment of new enterprise software (ES). Implementing an enterprise solution such as "Customer Relationship Management" (CRM), "Enterprise Resource Planning" (ERP) or "Core Processing" software crosses department boundaries, introduces organizational changes at a rapid pace, creates integration challenges with legacy systems and, in most cases, increases the complexity of the company’s information technology infrastructure.
Due diligence becomes imperative when selecting such systems because of the importance, complexity and reliance on third-party vendors for enterprise software (ES). Selecting and implementing a new ES is a costly and time-consuming proposition that has a direct impact on a firm's operations and profitability. PKM can assist companies in following a 10-step structured approach to system selection to reduce the risk associated with an ES implementation project.