Enterprise Resource Planning (ERP) systems and firms performance aspects are currently experiencing an increasing interest from both the academic and business communities. Based on the resource-based view (RBV) theory this paper develops a research model to measure and examine determinants of ERP value in regards to the impact on small and medium enterprise (SME) performance. The model gathers industry standards and literature of ERP, linking three determinants anchored on RBV to 'ERP value' (usage, collaboration and analytics capabilities), on which three hypotheses are postulated. Testing was conducted thought structural equation modeling as implemented in partial least squares (PLS) on a data set web surveyed across Portuguese firms. Our findings show that collaboration and analytics capabilities, together with usage, will contribute to 'ERP value'. This study contributes to the ERP literature, in particular how SMEs can exploit value from ERP. Unlike the typical focus on ERP adoption found in the literature, this study focuses on postadoption stage, linking the ascendants of system value to firm performance.