{"id":1251,"date":"2018-03-23T16:36:14","date_gmt":"2018-03-23T16:36:14","guid":{"rendered":"https:\/\/solutionsreview.com\/enterprise-resource-planning\/?p=1251"},"modified":"2022-07-08T15:36:25","modified_gmt":"2022-07-08T15:36:25","slug":"top-4-key-capabilities-to-consider-before-selecting-an-erp-solution","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/enterprise-resource-planning\/top-4-key-capabilities-to-consider-before-selecting-an-erp-solution\/","title":{"rendered":"Top 4 Key Capabilities to Consider Before Selecting an ERP Solution"},"content":{"rendered":"

\"Key<\/p>\n

The following is an excerpt from Solutions Review\u2019s\u00a0Buyer\u2019s Guide for Enterprise Resource Planning Solutions<\/a>.<\/em><\/p>\n

The\u00a0Enterprise Resource Planning (ERP) software\u00a0marketplace is mature and crowded with excellent software tools for a variety of use cases, industries, deployment methods and budgets. There are large providers we refer to as \u201cmega-vendors,\u201d like Oracle, Microsoft and Acumatica. There are also lesser-known but just as great innovators with quality products that play in niche areas, such as DDI System, ProcessPro and QAD.<\/p>\n
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To help you evaluate prospective\u00a0ERP products, below are the top four key capabilities to consider before making your choice. If you find this helpful, be sure to check out our\u00a0ERP Buyer\u2019s Guide<\/a>, which features five questions to ask yourself and the solution providers before purchasing, a comprehensive overview of the market, and full, one page profiles of the top-24 ERP vendors, including our \u201cBottom Line\u201d analysis.<\/p>\n

Financial Management<\/h3>\n

An ERP\u00a0solution with a strong financial feature should ensure companies meet financial reporting and tax requirements with a single accounting, banking and payment system. It needs to allow for enhancements in financial
\nperformance with real-time information on expenses and revenue contribution. Lastly, your ERP should help improve cash flow, lower costs, and increase profitability while maintaining accurate financial reporting.<\/p>\n

Supply Chain Management (SCM)<\/h3>\n

As ERP solutions mainly cater to manufacturing and distribution companies,\u00a0it should absolutely be able to monitor demand, supply, manufacturing status, logistics and distribution in record time. Failing to find information, such as the location of a product\u2019s key components, and promptly share this information with supply partners, can have a significant impact on a company\u2019s supply chain. Your ERP solution should aid in all supply chain processes.<\/p>\n

Customer Relationship Management (CRM)<\/h3>\n

An ERP tool should help bring data together to enable salespeople and marketing planners alike to better address customer needs, preferences and buying patterns. It should better manage invoicing activities, provide relevant and real-time information for the best prepared proposals and monitor the overall status of contracts to help you gain a better understanding and be kept informed at all times.<\/p>\n

Project Management<\/h3>\n

An ERP solution should allow companies to select the best projects, assign the proper resources, streamline delivery efforts and track profitability. It needs to facilitate change management, time and expense reporting, billing and collecting payment activities. Ultimately, your ERP solution needs to provide an entire snapshot of the project lifecycle so you are kept up-to-date with everything happening throughout the organization – from back to front office functions.<\/p>\n

\n

Looking for more? Download our\u00a0ERP Buyer\u2019s Guide<\/a>\u00a0for free to compare the top 24 ERP software vendors head to head! The guide also includes 4 key capabilities to consider while selecting a new ERP solution and 10 questions to ask yourself and the software vendor before purchasing.<\/p>\n

And don’t forget to follow us on\u00a0Twitter<\/a>,\u00a0Facebook\u00a0<\/a>and\u00a0LinkedIn<\/a>\u00a0for all the latest in the ERP space!<\/em><\/p>\n

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\"Download<\/a> \"Download<\/a> \"Download<\/a><\/p>\n<\/div>\n\t\t<\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

The following is an excerpt from Solutions Review\u2019s\u00a0Buyer\u2019s Guide for Enterprise Resource Planning Solutions. The\u00a0Enterprise Resource Planning (ERP) software\u00a0marketplace is mature and crowded with excellent software tools for a variety of use cases, industries, deployment methods and budgets. There are large providers we refer to as \u201cmega-vendors,\u201d like Oracle, Microsoft and Acumatica. There are also […]<\/p>\n","protected":false},"author":34,"featured_media":4800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[5],"tags":[55,11,385,386],"acf":[],"yoast_head":"\nTop 4 Key Capabilities to Consider Before Selecting an ERP Solution<\/title>\n<meta name=\"description\" content=\"If you're in the market for a new ERP solution, there are four key capabilities you won't want to overlook: SCM, Financial Management, CRM and PM.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/enterprise-resource-planning\/top-4-key-capabilities-to-consider-before-selecting-an-erp-solution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 4 Key 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