60-Valuable-ERP-Software-Checkpoints-You-Need-To-Consider

Enterprise Resource Planning (ERP) software provides you with several benefits that contribute to your bottom line: a lower cost of operations, improved employee productivity and streamlined business processes. The challenge is finding the perfect ERP software for your particular business.

We’ve compiled a comprehensive list of ERP software checkpoints for you to help solve this problem.  Use this to help you pick the right ERP system.

60-Point Checklist For Selecting The Right ERP Software

An ERP’s greatest strength is its ability to automate and analyze your accounting operations. You want an ERP that can streamline several processes including budgeting, invoicing and payroll. Fifteen important things to consider about your ERP’s potential accounting and financials capabilities are:

  • Accounts Payable
  • Accounts Receivable
  • Advanced Allocations
  • Automatic Cost Calculations
  • Bank reconciliation
  • Budgeting
  • Deposits
  • ERP to Bank Interfaces
  • Expense Management
  • General Ledger
  • Invoices
  • Multiple Currencies Support
  • Multiple Languages Support
  • Payroll
  • Regulatory Compliance Support

Human Capital Management is a valuable ERP asset that helps you keep track of hiring data and the individual productivity of your employees. You can automate tasks like tax calculations and benefits and drastically reduce the risk of human error. Eight important things to consider about your ERP’s potential Human Capital Management capabilities are:

  • Benefits Administration
  • Employee Performance Management
  • Employee Self Service
  • Enterprise Compensation Management
  • Payroll Integration
  • Personal Income Tax
  • Talent Management
  • Time And Labor/Attendance

Manufacturing and Distribution process management capabilities are especially important because you can use this to complete tasks like quality analysis, distribution scheduling, and production control. Twelve important things to consider about your ERP’s manufacturing and distribution capabilities are:

  • Capacity Requirements Planning
  • Engineering Change Management
  • Forecasting
  • Job Costing
  • Master Production Scheduling
  • Production Control
  • Product Data Management
  • Process Synchronization
  • Quality Analysis
  • Quality Assurance Management
  • Quality Monitoring
  • Resource Planning and Management

Sales and Inventory Management tracks and analyzes your sales data, tracks expenses and manage order preparation. Your ERP can use this data to help you determine ideal price points or locate any item in your warehouse. Eight important things to consider about your ERP’s Sales and Inventory Management capabilities are:

  • Bill of Materials
  • Credit Card Processing
  • Customer Credit Management
  • Online Transaction Reporting
  • Pricing
  • Quotations
  • Sales Order Management
  • Sales Order Processing

Your ERP’s Supply Chain Management capabilities tend to prove exceptionally valuable for distributors, manufacturers, and retailers. It can significantly reduce the number of tasks performed, eliminate errors, and manage complex processes for you. Twelve important things to consider about your ERP’s Supply Chain Management capabilities are:

  • Demand Planning
  • Distribution Management
  • Dispatch of Orders
  • Event Management
  • Execution of Orders
  • Logistics Management
  • Logistics Planning
  • Management of Resources
  • Procurement
  • Production Performance Analysis
  • Scheduling
  • Sourcing

Finally, you need to ask yourself what kind of support the ERP provider you are considering can give you:

  • Chat/IM
  • Community Support
  • Email
  • Maintenance
  • Phone
  • Training

There’s a lot to consider before picking your perfect ERP. We’ve had a lot of practice over the years helping people find their perfect enterprise resource planning system. If you have any questions or concerns contact Edgeware and we’ll be happy to talk!