The purpose of this paper is to identify ERP value measurement factors based on intangible benefits. Although educational institutes have been adopting ERP systems for many years, the literature reveals that little attention has been given to research on ERP in educational institutes. The ERP implementation is said to be successful only if it adds any value to the organisation. Higher educational institutes find it difficult to measure ERP value in ERP post-implementation stage. For this study ERP values are mapped with the objectives of the ERP implementation on six different parameters: improved academic processes, effective integration, improved decision-making, maximised effectiveness, improved efficiency and increased self-efficacy. ERP value factors are confirmed with the exploratory and confirmatory factors analysis. This study considered identification of ERP value measurement factors based on intangible benefits to determine ERP success. However, future studies may include tangible benefits to get more concrete results.