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:

RFP Tab:

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.

Score Tab:

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.

Selecting the right ERP is not an easy task, but if you start planning from the start you will have no trouble finding an ERP system that maximizes your business. Contact us to see how our experts can help you through the process.