Add your business to ZipLeaf for free!
 Singapore Business Directory
Gathering ERP Requirements: A checklist For Businesses

By Globe3 ERP Pte Ltd


Gathering ERP Requirements: A checklist For BusinessesCreating a detailed ERP needs checklist is crucial for long-term success if your firm is in the process of selecting an enterprise resource planning (ERP) software. However, a haphazard approach will only cost you time, money, and resources. There are several downloadable ERP requirements checklists and templates available online. Still, only some of them are practical since they tend to focus on general functionality rather than the team's unique needs that will use the ERP for years to come. The ideal approach is to create a personalized checklist based on your specific demands so you don't waste money on showy features that have nothing to do with your company's aims.

This article will assist you in developing a unique ERP needs checklist appropriate for your organization. It will provide your team with the criteria and questions required to evaluate each system and choose which will work best with five simple steps. You can also study the main features and get started by downloading our free ERP functional needs checklist template

The Importance of Establishing a Requirement ChecklistCollecting and prioritizing ERP needs allows businesses to make better decisions and reduces the likelihood of an ERP project failing. Companies may utilize their ERP needs checklist to guide them through the process, from software selection to deployment. This checklist simplifies the complex process of investing in a new ERP.

More straightforward collection of ERP business requirements from department stakeholders, access to the entire list of ERP software requirements and features on the market, more productive collaboration during software evaluation and selection, and easier tracking of ERP functions during system implementation to all of these advantages highlight the importance of developing a requirements checklist.

Building Your ERP Requirements Checklist: 5 Steps To FollowApart from analyzing how the ERP system will serve specific business operations, it is also critical to address additional general needs, such as:

Step 1: Define your business needs and objectivesCreate a detailed list of your ERP solution's business needs by soliciting input from your team to guarantee that your ERP operates at all levels. Begin by sketching out your essential Business process analysis and mapping the end users whom the new ERP solution will most impact.
Next, please talk with your staff about how a company management system might help them enhance the efficiency of their department. Ask about process gaps, obstacles, and manual processes that waste time and impede them from accomplishing their goals. Representatives from all departments must attend this meeting. Following that, you must select the best solution for your firm.

Step 2: List Out desired software functionality and featuresIt is crucial to determine which features are most suited to your company. Several of these ERPs are customizable to the requirements of your industry. As part of your checklist, get their recommendations on the systems they've liked throughout their careers. This information can help you save money on training later on. Since then, you may easily select the customization and integration requirements for your business.

As an example, consider rental companies. Inventory management is generally a concern for rental companies. An Inventory and Procurement module may be a practical option in this instance. This enables businesses to connect inventory data to all associated departments via the ERP, delivering critical information that can affect your organization's sales, distribution, marketing, manufacturing, and other areas.

Step 3: Decide on a realistic budget and timeframeIt is critical to determine how much money is accessible for an ERP system. Therefore, it would be best to verify that your firm has the cash to implement an ERP system that meets your unique needs. Each company's budget for deploying an ERP system is unique. It also relies on the organization's size, the number of users, and their requirements.

Typically, the overall expenditure should include software license costs, server fees and network infrastructure, data management and migration. Then software training, upgrade and maintenance fees, and post-implementation consultant assistance. Having a firm grasp on your budget and timetable will make the process go more smoothly in the long run.

Step 4: Set SMART requirements to evaluate ROIWhile developing your list of essential criteria, keep the SMART rule in mind and make them clear, measurable, achievable, relevant, and time-bound. This will assist you in determining the value that the need will eventually create. If you can quantify it from the outset, you can compare this measurable benefit to your ERP expenses, allowing you to compute your ROI reporting and analytics.

Similarly, ensure your criteria are realistic and relevant - and remember that only some things have to be necessary. Concentrate on your essential processes and problems. Lastly, they should be time-bound, which means you'll experience the benefits within a few years.

Step 5: Shortlist Potential ERP VendorsAfter reviewing the abovementioned requirements, it is time to identify several viable ERP suppliers to meet your company scalability and performance. This is significant because whatever ERP software you choose will almost certainly only be able to perform some of what you want - there may be process vs functionality issues. A competent partner will work with you to close these gaps to achieve the desired result.

ConclusionFollow these procedures if you want to gather requirements differently. But, having measures in place will guide your company toward picking the finest Enterprise Resource Planning for best user experience and adoption of today and future technologies.

Ultimately, create your prioritized list of criteria and enhance it with a list of non-required advantages. Then, you will compare each possible ERP provider's product to this required list. Globe3 ERP has over 20+ year of ERP implementation towards 300+ companies in Singapore. We have companies has been using our system over 10 years+. Reason being is we keep developing and adopting latest technologies. Therefore you can Contact Globe3 ERP as finest tools for all your users.

About This Author

Globe3 ERP Pte Ltd

Globe3 ERP Pte Ltd

Globe3 ERP is a web-based, mid-range, multi-company, multi-currency, integrated Cloud ERP solution, which comprises Finance, Manufacturing, Supply Chain Management, Enterprise Project Management, Customer Relationship Management, and Human Resource Management modules that help streamline a company…

Read More »

More Articles From This Author

Why should you onboard Procurement Automation Software

12/05/2023 Why should you onboard Procurement Automation SoftwareThe present business environment has compelled many organizations, particularly those in the hardware-intensive industry, to reconsider how they handle their procurement procedures.The epidemic has underlined the significance of having a dependab... Read More »

Wholesale Business Problems - Cash Flow

11/28/2023 Wholesale Business Problems - Cash FlowEnterprise Resource Planning (ERP) systems can help wholesale businesses address cash flow management challenges. Wholesale businesses face several cash flow management challenges, including slow-paying customers, high inventory costs, and fluctuations in deman... Read More »

Top 5 Features of HRMS 2023

11/14/2023 Top 5 Features of HRMS 2023In today's modern workforce, managing human resources has become increasingly complex. With the growth and expansion of businesses, managing HR processes manually is no longer feasible or efficient. This is where HR automation comes in handy. A Human Resource Management Sy... Read More »

Top 5 Ways to improve your ERP in 2023

09/15/2023 Top 5 Ways to improve your ERP in 2023The Enterprise Resource Planning (ERP) system environment is set to experience a considerable transition in 2023, owing to rising cloud use, advances in artificial intelligence (AI), and shifting client needs. ERP has evolved significantly throughout the years.... Read More »

ERP Software for Construction Project Management Company

08/23/2023 Intro to Construction Project ManagementConstruction project management is a complex process that requires proper coordination and management of resources. Every construction business needs to find ways to optimize its operations, reduce costs, and increase profits to stay competitive in the market.... Read More »

Management Control System - The Key Features

08/21/2023 Management Control System - The Key FeaturesEnterprise Resource Planning (ERP)is a software solution that helps businesses integrate and manage processes such as inventory and procurement, finance, and human resources. It provides a comprehensive approach to managing various aspects of a business. W... Read More »

Top 5 features of Customer Relationship Management Software

08/16/2023 Customer Relationship Management (CRM) only gets a little more important for a successful organization. This critical, time-consuming, and laborious process is also susceptible to human mistakes. We've all been there, hopping from salesperson to sales rep through repetitive queries while information... Read More »

Warehouse Management in Trading and Distribution Industry

08/14/2023 With advanced growth and client demands dominating, wholesale distribution organizations are pressured to develop better tactics. Distributors are challenged by increasing competition and supply chain disruption, making providing timely products and services harder. Traders and distributors must dif... Read More »

Challenges & Overcome in Manufacturing Industry

07/07/2023 Challenges & Overcome in Manufacturing IndustryThe manufacturing industry is growing due to all the rising technology and lean manufacturing techniques, as well as a strengthening economy. According to a recent Interact Analysis study, the global manufacturing sector's production rise by 4% in 2... Read More »

Challenges & Opportunities In the Trading & Distribution Industry

07/05/2023 Challenges & Opportunities In the Trading & Distribution IndustryGlobalization has been facing headwinds for several years. It is a challenging period for the Trading & Distribution Industry in a world of solid rivalry and poor profits. Supply chain uncertainty, inventory concerns, and i... Read More »

Manufacturing ERP Solutions for Better Collaboration

Manufacturing ERP Solutions for Better Collaboration

07/03/2023 Manufacturing ERP Solutions for Better CollaborationCollaboration is nothing new in the manufacturing industry; it has always been the standard. Top manufacturers' most successful sources for producing new possibilities include group problem-solving, troubleshooting, and idea development. Today, as... Read More »

Key to Boost Your Businesses Efficiency - Globe3 ERP

07/03/2023 Enterprise resource planning (ERP) performs several vital functions. For example, it can integrate the various business units within your organization, streamline your workflows, improve collaboration and communication, as well as provide usable data and valuable insights.In this article, we would l... Read More »

Challenges & Overcome In Equipment Rental Industry

06/30/2023 Challenges & Overcome In Equipment Rental IndustryThe rental industry is challenging, and demand may be highly irregular and unmanageable if not correctly tracked. Seasonal and economic swings can make it difficult for a company that has taken out finance to acquire an expensive piece of equipme... Read More »

5 Key Benefits of ERP for Financial Management

5 Key Benefits of ERP for Financial Management

06/29/2023 ERP for financial management is an augmented module that cooperates with a company's departments. It focuses on the economic aspects, which aid in increased productivity and decision-making.Its main difference from other traditional accounting and financial planning tools is that ERP ensures data ac... Read More »

5 Ways to speed up ERP implementation

06/29/2023 OverviewImplementing Enterprise resource planning (ERP) software, an integrated suite of business applications, increases the chance of subsequent significant issues. ERP has been around for a long time, but the cloud is improving its functionality and accessibility.A well-planned implementation str... Read More »

When is the best time for Digital Transformation?

06/28/2023 After the pandemic, many companies are reviewing all of their business processes. The development situation was challenging, evident in slowing but still high growth, the risk of debt distress, low levels of domestic resource mobilization, and high inflation. It makes our businesses need to change t... Read More »

3 Key Benefits of Moving your On-Premises ERP System to the Cloud

3 Key Benefits of Moving your On-Premises ERP System to the Cloud

06/27/2023 As the cloud hosting era is pushing by, many business owners have foreseen the benefits of cloud ERP. We realize many companies migrated their on-premises ERP to the cloud, figuring out the key benefits of cloud-based ERP and the reasons to migrate.First, a cloud ERP solution allows users to access... Read More »

How will Data Visualization boost your business growth?

How will Data Visualization boost your business growth?

06/26/2023 In modern business, we cannot deny that data is becoming an essential part of every company. Businesses gather data for multiple reasons, but the one that applies to every company is simple: data is critical to insight into our decision-making processes.The mind is generally much more effective at p... Read More »

What is FSM (Field Service Management)?

What is FSM (Field Service Management)?

06/26/2023 Field Service Management (FSM) is a system that optimizes processes and information exchange when businesses have a team of employees and technicians working outside the company, especially for operation management. This solution can improve the quality of customer care services for businesses based... Read More »

Upgrade or Replace ERP: Which Option is Right for Your Business?

Upgrade or Replace ERP: Which Option is Right for Your Business?

06/23/2023 Enterprise Resource Planning (ERP) is vital business operations, managing tasks from purchasing, logistics, accounting, service delivery, and customer management, all through a centralized system. However, like any software solution, organizations can outgrow their ERP, leading to gaps in functional... Read More »

Human Resource Management with ERP software - Globe3 ERP

Human Resource Management with ERP software - Globe3 ERP

06/23/2023 Introduction to Human Resource Management“HRM” stands for “Human Resource Management.” It includes all decisions and management activities that have a direct and close relationship with the business and its employees. The ability to use labour with appropriate qualifications and skills in a... Read More »

How to Manage Your Small Business Payroll

How to Manage Your Small Business Payroll

06/21/2023 How to Manage Your Small Business PayrollCompany owners who want to cut their payroll time in half should use a well-organized payroll administration system.Payroll administration is one of the most difficult human resources duties a small business owner must face. In addition to ensuring that your... Read More »