ERP projects are costing large companies approximately one per cent of annual corporate revenues and taking an average of 20 months to implement, according to the results of a recent Meta Group Inc. survey.

The survey of more than 200 companies, whose annual revenues exceed US$1 billion, found that about 70 per cent of ERP costs are for labour.

Stamford, Conn.-based Meta also found ERP implementations take an average of 27 months before companies realize benefits from them.