The veteran leaders of a newly formed oil and gas venture were aware of the benefits of enterprise resource planning (ERP) systems. ERP integrates processes and facilitates information flow between Land and Accounting, and often includes Operations. Eager to execute their aggressive growth plan in the Oklahoma STACK formation, the leadership team wanted to introduce ERP’s benefits sooner rather than later. So, they put a line in the sand to complete the ERP software evaluation process within 60 days and contacted Stonebridge.
Given the company’s current size and future plans, it was critical to select a “best fit” ERP system with the capacity to adapt to growth. The company’s leadership were not naïve about the challenge, however, especially with their self-imposed 60-day deadline. Evaluating and selecting commercial ERP systems is an inherently complex undertaking, and there are numerous commercial ERP systems on the market. Software functionality, total cost of ownership and implementation factors are key considerations. But the ultimate factor is determining which system provides the best fit for the company’s needs, both now and weighing anticipated growth.
To support the ERP initiative, Stonebridge brought in a small, highly skilled team to manage the entire ERP software selection and vendor evaluation process on behalf of the client. Based on client’s business requirements, the Stonebridge team narrowed the vendor pool to three ERP finalists and executed a defined software selection methodology:
- Project Preparation and Planning – Performed a pre-selection assessment of the client’s requirements impacted by the ERP implementation (Financial Accounting, JIB Accounting, Revenue Accounting, Division Orders, Production and Midstream).
- Strategic Roadmap – Developed a strategic ERP vision addressing the client’s current needs and accelerated implementation timeline.
- RFI Issuance and Introductory Demonstrations – Notified ERP software vendors to assess their ability to meet the client’s defined business requirements.
- Vendor RFP and Software Demonstrations – Orchestrated the RFP process, analyzed vendor responses to ensure the client’s functional and technical requirements are met, and managed software demos.
- Vendor Evaluation and Final Selection – Executed a structured step-by-step ERP software evaluation process including TCO estimates and client references.
- Contract Negotiations – Conducted negotiations with the selected ERP software vendor on behalf of the client to finalize terms and conditions.
Working on behalf of the company, Stonebridge completed a comprehensive ERP selection and vendor evaluation in less than 60 days—a significant accomplishment appreciated by the client as well as the vendor finalists. Post selection process, the client engaged Stonebridge to oversee the ERP system implementation, working closely with the software vendor and business users throughout the process.
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