The Industry Specific Solution is never something to overlook. There are so many different options out there and some industries have really strong options in ERP software. The biggest benefit to going with an industry specific solution is that the software provider will be more knowledgeable about best practices in your industry. Of course, they will build this knowledge into their product. Common terms relating to your industry will appear all over the product and you may have less configuration and setup to do with this product.
However, there a few downsides to consider when taking this approach. The customer base for industry specific solutions is much smaller than with any of the larger ERP competitors. This can be very problematic if the customer base is too small because you will end up finding a lot more bugs. You will likely get more attention from the software provider, but you will also spend a lot of time troubleshooting their product for them.
With a smaller customer base comes a smaller product budget. This means that upgrades, newer technology, and new features are typically lacking compared to your other options. It also typically means that the flexibility of the software to adapt to your company specific needs will be much more limited. Of course, with a smaller market comes smaller revenue streams. Software providers in this market typically have the shortest life span which can really leave their clients hanging.
While the benefits of a solution that is tailored to your industry are hard to ignore, remember that they still may not be tailored to your business. Targeting a specific market segment limits the investment that a publisher can make in their product. This means fewer customers, developers, and integration options. It’s also important to evaluate the longevity of the publisher to ensure they’ll be able to support you for the years to come.