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ERP RFP Template: 5 Key Benefits

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How an ERP RFP Template Can Help You Find Your Best-fit ERP Software

Using an ERP RFP template can make a huge difference in your ERP software search, especially with the 5 key benefits an ERP RFP template has to offer.

Review the 5 key ERP RFP template benefits at the bottom of this page and you can quickly transform your ERP software search from "hit-and-miss" to "on-the-money."

Satisfying your enterprise ERP software needs has never been more straightforward─in less time than you think, you can find best-fit ERP software that gives you all the functionality you want.

What is an ERP RFP Template?


An ERP RFP template, simply put, is a list of ERP software functions and features.

You can think of it as a menu from which you choose─and rank─the criteria essential to the way an ERP application will fit into your organization.

ERP software sellers need to get a clear idea of the what you are looking for so that you benefit from all the key criteria they can incorporate into their ERP software solutions.

But the benefits go far beyond that.

ERP RFP Benefit #1
Capture In-depth Feature and Function Lists

When you fill out your ERP RFP template you have thousands of critical criteria to choose from. These criteria are not selected randomly but have been developed in conjunction with software analysts and some of the world's leading software vendors, such as Microsoft, SAP, and Oracle, to name only a few.

TEC's ERP RFP templates are specially designed MS Excel spreadsheets that give you a comprehensive list of ERP software features and functions.

Get a free sample of your ERP RFP template.

Every possible feature and function available in ERP software solutions is organized for you in an Excel spreadsheet format with an easy-to-use, color-coded, and hierarchical structure.

What does that mean?

That means if you are looking for a discrete ERP RFP template you will find that the discrete ERP RFP template contains over 3,600 criteria, divided into 8 main modules, and 56 sub-modules─all easy-to-view, color-coded, and hierarchical for clarity and ease-of-use .

Each criterion gives you columns where you can rank the importance of each ERP feature and function. From possible mandatory ERP features and functions, such as ERP lean manufacturing accounting parameters and structuring, to possible lower priority criteria, such as transaction tracking systems─every critical criteria is listed in the ERP RFP template. 

And, in addition to this complete list of ERP features and functions, beside your ranking of each criteria there is a column where the amount of vendor support for that criteria is displayed.

All the ERP software selection information you need is in one organized place.

This means you can see very clearly the functionality you require and the vendors that do and do not support the ERP functionality you are looking for.

ERP RFP Benefit #2
Nail Down Your Company's Functional Requirements

An ERP RFP template helps you organize and itemize all your critical criteria, unifying all your functionality needs in one convenient and easy-to-use Excel spreadsheet.

And if you don't find the key criteria you are looking for in the ERP RFP template, you can cut and paste to create your own custom ERP RFP template and even add new criteria or new sections if you choose.

This ensures that all the features and functions integral to your business are listed in your Excel spreadsheet.

But how does TEC ensure that the ERP RFP templates never go out-of-date?

TEC ERP RFP templates are updated on a continuous basis. These updates are important because they respond to new product releases, new vendor functionality, and ongoing changes in the ERP marketplace.

So if you need to add some custom functionality, it will never be because the ERP RFP template is out-of-date.

We give you the option to customize your ERP RFP project because we know that different companies can have very different needs and knowing and itemizing all your functionality needs is the only way that an ERP implementation can truly be "on-the-money."

And whether your ERP business project budget is $100,000 (USD), $2,000,000 (USD), or more─you don't want to implement, spending valuable money and resources, on an ERP application software that isn't a best-fit for your company.

ERP RFP Benefit #3
Ensure None of Your Requirements Are Overlooked

Overlooking key criteria is a thing of the past after filling out an ERP RFP template.

Why?

All your critical criteria are itemized in one Excel spreadsheet keeping you organized and on top of what your company really needs from an ERP software. When you look at your ERP RFP template you can see the "big picture"─never losing sight of the forest for the trees.

Having all of your features and functions right in front of you, allows you to see a clear picture of what is very important to your business, moderately important, and not so important. This ensures that you focus on the parts of your business that need specific and key functionality from an ERP software solution. By being focused you don't waste any of your time and energy on the least important criteria, but instead stay focused on the criteria that really matter.

So not only will you never forget any key criteria, but you also won't give the wrong importance to any key criteria either. ERP RFP templates give you an objective approach to itemizing what you need and want without allowing you to get off track.

ERP RFP Benefit #4
Compare Vendors Side-by-side

Not only will you never forget your critical criteria, but you will never miss your best-fit ERP vendor either.

Why not?

Because all ERP vendors and the criteria they support─and don't support─appear side-by-side in one convenient spreadsheet.

What is the advantage of that?

Dedicated ERP vendor response columns enable you to see the functionalities that the different vendors support and do not support. Giving you a clear idea of which vendors could end up on your ERP shortlist and which ERP vendors simply don't have the functionality you want and need from an ERP software solution.

Build your shortlist of ERP vendors based on your high-level requirements you specify through a questionnaire.

I just did it few minutes ago and it took me only 9 minutes to complete my shortlist. Wow! 9 minutes compared to months we were used to.

If you are an engineer-to-order company, for example, looking for ERP software, you may end up with a shortlist of two ERP software vendors that offer three different products: Epicor Vantage, Consona Encompix, and Consona Paradigm.

An ERP RFP can give you the must-have information you need to make a final choice from the three ERP products.

Epicor Vantage, Consona Encompix and Paradigm may all rank about the same as far as meeting your overall functionality requirements, however, one of the ERP products may support a key criteria that the others do not.

That key criteria may be exactly what you need to find your best-fit ERP software solution.

ERP RFP Benefit #5
Get Objective and Precise Vendor Responses

Industry analysts and the world's leading software vendors have helped TEC create ERP RFP templates and have ensured that the ERP RFIs, the request for information that the ERP vendors fill out, have clear, industry-standard language describing each criteria. Criteria that is based on up-to-date, ERP functionality and is continually being updated to include new product releases, new vendor functionality, and ongoing ERP market changes.

This keeps the ERP RFIs current and ensures that all the ERP vendors respond to the ERP RFIs in the same language.

Why is this so important?

It keeps you from comparing "apples with apples" without even knowing it.

What does that mean?

Many ERP vendors use different industry jargon for the same features and functions. But how are you going to know?

That's where the ERP RFP template comes in.

The advantage of filling out an ERP RFP is that the possibility of comparing apples with apples is nil. The industry-standard language avoids any confusion and keeps the ERP vendors' responses precise.

When all the ERP vendors have to respond to the same questions in the same language, you get clear and unbiased answers to what their products do.

The objective, unbiased ERP RFP template takes you one step closer to your best-fit ERP software solution, by cutting through the industry jargon and giving you the straight dope on ERP functionality.

Summary: 5 Key Benefits of an ERP RFP Template

  • Capture In-depth Feature and Function Lists
  • Nail Down Your Company's Functional Requirements
  • Ensure None of Your Requirements Are Overlooked
  • Compare Vendors Side-by-side
  • Get Objective and Precise Vendor Responses

 

About Technology Evaluation Centers (TEC)

TEC can help you find your best-fit ERP software solution with their ERP RFP templates.

Whether you are looking for a discrete ERP RFP template or an engineer-to-order ERP RFP template TEC is the place to go. With more criteria than any other impartial software evaluator, TEC gives you all the tools you need to find the ERP software that you need and want.

Come an visit TEC and find the essential ERP software that will keep your business competitive and up-to-date.

Simplify your life! Get started on your successful software comparison today.

 

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