What is an important factor to consider when selecting an ERP system according to the Clash of the Titans article?

When selecting an Enterprise Resource Planning (ERP) system, considering both market share and cost of ownership is crucial because these factors can significantly impact the system's effectiveness and long-term viability for a business.

Market share reflects the popularity and reliability of an ERP system within the industry. A higher market share usually indicates that the software is widely adopted, which can translate to a larger community of users for support, more robust ongoing development, and a more extensive ecosystem of third-party applications and integrations that can enhance functionality.

Cost of ownership encompasses not just the initial purchase price of the ERP system but also the ongoing expenses associated with implementation, maintenance, upgrades, and training. Understanding the total cost is important in ensuring that an organization can sustain the ERP system financially over time. A system that may be less expensive upfront but carries high ongoing costs could become a burden, whereas a more expensive system with lower total ownership costs might yield better value.

By weighing both market share and cost of ownership together, organizations can make informed decisions that align with their strategic goals and operational requirements, ultimately leading to successful ERP implementations.