Implementing a new ERP is a great time to review your company's processes around the ERP and integrated platforms. Often, poor processes have been developed in the past to deal with outdated technology. Now is the time to update those processes.
Functional processes that should be reviewed include:
- Procure to Pay: Requisitions, Purchasing, Inventory, Accounts Payable, Accruals, Prepaids, Fixed Assets, Projects
- Order to Cash: Sales Quote, Sales Order, Sales Invoice, Accounts Receivable, Cash Receipts, Banking
- Record to Report: General Ledger, Journal Entries, Core Financials, Cost Accounting, Reporting, Budgeting
- Depending on the type and configuration of your new ERP, you may also want to review statistical tracking (i.e. employees per square foot), Human Resources and employee management, Production and other advanced or ancillary areas.
One of the greatest benefits from a new ERP system is the ability to standardize processes, workflow and documentation across business units.
- Chart of Accounts: Having all business units measure and report on the same accounts creates greater consistency and speed of reporting.
- Workflow: New ERP systems have a great deal of workflow capabilities built into them. Utilizing this workflow can give more speed and transparency to functions such as requisitioning and purchasing, production scheduling and payables.
- Scanning: An often overlooked opportunity is to reduce the amount of paper that is moved, copied and stored in your company. New ERP systems have tremendous capabilities to associate scanned documents with specific items such as a PO, Invoice or Proof of Delivery. By capturing these items electronically, you can expedite workflow and increase access to important documents.
Take advantage of the new ERP implementation process to review how your company does business, improve upon it, and embed it into the new system. Following these simple steps will help get your ERP implementation off to a great start.
For more information, contact Tribridge
and download our ebook, 10 Days to ERP Success