Evaluating General Ledger applications can be difficult without the right tools. We developed a simple Excel template to help businesses evaluate up to six different accounting or ERP software applications with 76 different sample questions.
The General Ledger RFP template includes a password that you can set to limit access to the underlying values. This means that you can unlock the spreadsheet (workbooks and sheets) and edit the questions or add/delete questions to customize the RFP tool to your needs.
There are two tabs in the GL RFP template:
allows you to highlight the importance of the 76 template questions as Must Have, Nice to Have, or Not Required. Each vendor can then enter their own answers to the questions with values of: Fully Supported, Partially Supported Third Party Product, Modification Required, Future Support, or No Support.
allows you to define the weighting you want to give to the answers to vendor questions and it allows you to name the vendors and products that are part of the RFP process. You can then see the combined scores of each vendor on this tab. The scoring uses the weights you place on vendor responses multiplied by the priorities you assigned to the requirement to give you a composite score to compare vendor products. You can also define the weight you place on must-have, nice-to-have, and no requirement features.
The scoring multiples your prioritization score by the score or weight you place on the vendor response compared against the total points possible based on the questions you’ve defined in your RFP.
We recommend that you provide a copy of this template to each potential vendor and then combine their results into a master version for comparison.
To download the entire evaluation template request access to our complimentary white paper portal which contains helpful resources to aid in your accounting software evaluation.
You need to login to view the rest of the content. Please Login. Not a Member? Join Us
Each year, North American businesses spend about $187 billion on accounts payable (AP) processing. Innovative financial management tools that come with lower costs and bigger payoffs are on the rise. Top companies are adopting AP automations to streamline processes, increase efficiency, and decision making for almost 70% less than average processing costs. Here are some […]
The Evolution of Manufacturing Conference and Awards honors Northern Ohio manufacturers for their ability to continuously innovate, create and drive processes that result in a positive impact on there business. The event also explores how successful manufactures employ and retain top talent, incorporate next generation practices, and continue to find innovative ways to remain competitive […]