In today's global economy, enterprises are facing ever increasing competitive pressures and competition between companies and complexity of market network is growing at a fast pace. Thus, making efficient use of resources and integrating different departments in planning and executing has become vital. As a result ERP (Enterprise Resource Planning) applications are being implemented at an increasing speed in different scale firms. ERP is a way to integrate data and processes of an organization into a centralized system that aims at having a single software solution where the information needed for decision making is shared across different departments. The selection or elimination of technology is a multi-criteria, multi-attribute, decision making problem, which involves both tangible and intangible factors. Due to the vast variety of available products, designing and executing the product selection process in an efficient and optimal manner is critical. The objective of this paper is to propose a proper selection methodology as per the company's workflow and hence, identify selection criteria for ERP technology selection and boost their profitability.