Enterprise resource planning ERP system evaluation is a significant task; you, your selection committee, and other stakeholders must take into account a wealth of operational data.
By compiling this useful list of ERP evaluation criteria for you, we’ve attempted to lessen some of the problem. It is based on our thorough research and actual user data from ERP selection projects in our technology selection management TSM platform.
Use the major ERP evaluation criteria and functionality checklist on this page to help you start your ERP research in the proper direction.
When you’re prepared to begin ranking your unique ERP implementation requirements in order of importance, use this form. You also receive a fantastic requirements management solution that you can use for free to handle the entire ERP requirements and review process.
View the complete list of important ERP functionality evaluation criteria:
Evaluation Standards for ERP
Depending on your organization’s demands, your ERP software should satisfy all or most of the following requirements:
Relationship/Account Management with Customers
Make sure the CRM module enables users to view clients from a variety of custom perspectives, such as products, geography, account type, and others. A good CRM module should make it simple to access essential ERP data from any device at any time.
Receivables Reporting
Your AP team will receive adequate reporting from good ERP systems, allowing for more effective collections and simpler account ageing evaluation.
Reconciling the Banks
For your company to reconcile bank statement balances with the amount in the cash accounts in the general ledger, your prospective ERP solution needs to have a feature called bank reconciliation.
Benefits Management
A system to handle and monitor participation in benefit programmes, including as insurance, compensation, profit-sharing, and retirement plans, is required for your ERP.
CRP Capacity Needs Planning A CRP module is crucial for your ERP if you need to ascertain the resources needed to meet production requirements.
Certain businesses need production planning, scheduling, and an inventory control system. MRP Material Requirements Planning. Check to see if this module is present in the ERPs you are considering if it is a need as well.
BOM Bill Of Materials Bill Of Materials
Do bills of material have to be used when generating production orders to produce goods? If so, be sure the ERP you are evaluating has this feature built in.
Logistics Administration
Having logistics management in your ERP is a key component because it is necessary for all of your organization’s planning and execution. An ERP doesn’t meet my criteria if logistics management isn’t a key component.
BI Business Intelligence Business Intelligence
Business intelligence needs have already been discussed, and many of the best BI tools are standalone items. But, your ERP can also incorporate BI. Whether you use the BI features in your ERP or choose a stand-alone, best-in-class BI product depends on your organization’s preferences.
