ERP software packages integrate all departments and functions across a company onto a single information system that can serve all those different departments' particular needs. It uses the resources in a very effective way and minimizes the cost of the company and particular departments. ERP software packages gives you access to the latest technology and are designed for small to medium-sized companies or large companies.

Implementing ERP software in a company is a very costly affair for any company. ERP software price of installation, implementation, and data migration generally run about three to four times the original cost of the packaged ERP software. If your organization is located in a major metropolitan area, you will likely have lower consulting costs than in a smaller city or rural area. Enterprises should allocate a certain percentage of the total ERP software price to an ERP project to training. Research found that companies that budget less for training are three times more likely to see their ERP projects run over time and over budget.

Many managers choose to purchase a prewritten ERP solution under the assumption that since the software is prewritten, they can downscale their IT staff, hence cutting down their ERP software pricing however prewritten packages need IT personnel to locate bugs and apply patches to the packaged software which increases the ERP software pricing.