What are ERP systems?
An Enterprise resource planning (ERP) refers to a software program that integrates different business aspects of a company into one central database.
Companies can conduct planning, finance, sales, marketing, payroll, and more with just a single ERP software application.
The purpose of ERP software is to help companies implement resource planning by bringing together all the processes they need to run a business under one roof.
In ERP systems, central databases facilitate on-time availability of data across different departmental structures without the need for time-consuming manual searches. This leads to cost savings as well as an increase in productivity across the company’s operations.
Essentially, different enterprises can not only improve their business management but also efficiently unite their workers, and gain more value by implementing a modified ERP system.
Top ERP systems for 2024
With the rising adoption of enterprise resource planning (ERP) software by several companies, the need for choosing the right ERP system for your company has never been more.
There’s no one-size-fits-all ERP system available, instead, you have to carefully research and choose the one that caters best to your business needs.
Here we’ll discuss some of the top ERP software vendors, that are providing the best and most popular ERP systems for businesses worldwide.
- Dynamics 365
One of the most popular ERP system available in the market is Microsoft Dynamics 365. If you are a company already familiarized with Microsoft products (MS Project, MS Office, etc.) then Dynamic 365 is the best ERP solution for you.
Through Dynamic 365, you’ll be not only able to integrate ERP and CRM functions, but the integration with other MS products would also be much easier.
The wide range of applications provided by this software would let you better track your business deals, sales and improve overall operations. The AI tools of MS dynamics 365 would help you to make better projections regarding your sales.
No matter the size of your company, small or large, Dynamics 365 provides you with individualistic enterprise resource planning solutions catering to your specific business needs.
Pros
- Microsoft Dynamics 365 gives your business more mobility through various applications like D365 Sales, D365 Finance, D365 HR and many more.
- Dynamics 365 not only enables the integration with other Microsoft apps but also with third-party apps like Power BI, ESB, Yammer etc.
Cons
- The implementation and customization costs of Microsoft Dynamics are very high, hence, it’s not very economical for small businesses.
- You must acquire some IT training to fully grasp all its functions.
- The user interface is sometimes hard to navigate.
- AgriERP
When we look at the ERP systems list for the best ERP solution for the agriculture businesses, AgriERP software name come at the top.
AgriERP is a farm management solution that enables farmers to upgrade their farming by effective planning. They can not only better track their sales but can also manage daily farming operations more effectively.
Through its various modules and applications, AgriERP enables the farmers to better analyse their profitability and forecasting. The control of inventory, crop rotation and field planning is made much more efficient with the implementation of this software.
In addition, AgriERP also enables agribusinesses to monitor post-harvest processing and storage. These companies can better manage their resources, marketing and distribution of goods.
Pros
- The availability of AgriERP through mobile devices makes it possible for you to efficiently track all your data from anywhere and anytime.
- Its very user-friendly interface and different dashboards help you to customise them according to your specific business needs.
Cons
- The high cost of the software might cause a dent in your company’s finances.
- With the complete automation of most businesses’ operations, the need for manual labour would be significantly reduced. So, be prepared to say goodbye to some of your workforce.
- Dynamics 365 Business Central
Dynamics 365 Business Central is a part of the ERP solutions offered by Dynamics 365. With its cloud-based and on-premises deployment, Dynamics 365 Business Central allows you to upgrade your businesses. Its ability to integrate with other Microsoft’s Azure apps makes it an invaluable resource.
Through its end-to-end encryption, you can securely store and share all of your business-related data without the fear of unauthorized access.
Small and mid-sized businesses can benefit immensely from its financial management and manufacturing modules. Also, they can adequately manage their warehouses, order processing and sales and marketing through dynamics 365 business central.
Pros
- Microsoft 365 Business Central delivers industry-specific applications so, you can easily choose the app best suited to your industry and business.
- Its support for 25 languages and easily customizable interface makes it very user friendly.
Cons
- If you are not a tech-savvy person, you may find it difficult to understand the complete functionality of the software without any training.
- Microsoft Dynamics AX
Microsoft Dynamics AX is its powerful ERP tool that helps enterprises organize, automate and optimize their businesses.
Microsoft Dynamics AX makes handling day to day tasks more effortless through financial management, customer relationship management and project management tools.
In addition, its HR features help with the training and development of employees. Microsoft Dynamics AX offers different deployment options as Cloud, SaaS, Windows and Linux.
Dynamics AX delivers compatible solutions to industries of manufacturing, retail, computer software, financial services, pharmaceuticals and logistics and supply chain.
Pros
- This software is highly adaptable and customizable with a very user-friendly interface.
- By implementing the software, you become a part of a large client network where you can share your experiences and also learn about how to increase software’s potential.
Cons
- Some users complain of too much complexity of the system that makes the deployment more difficult.
- The dashboard and interface of the software are not mobile users friendly.
- Oracle NetSuite
ERP vendor Oracle Corporation has been marketing this NetSuite software for quite some time now. ERP, CRM, E-Commerce, professional services, human capital management and automation are its major suites.
In addition to these, the presence of the NetSuite OneWorld module enables its usage in different countries with different currencies.
With its inbuilt business intelligence, NetSuite enables businesses to aptly manage their financials, stimulate their order management, supply chain management, and production management.
Pros
- Oracle NetSuite is best for small and medium-sized businesses.
- It has a very customizable dashboard so you can change it according to your business needs.
- With more than 20 years of experience, Oracle NetSuite provides the most mature solutions to your business management problems.
Cons
- As a small or mid-size business, the cost of Oracle NetSuite would be very high for you, as you would have to acquire a subscription module with loads of hidden costs.
- In comparison to the other systems, the lack of flexibility in this ERP system holds it back.
- Acumatica
Acumatica is a cloud-based enterprise resource planning software that gives the best business management solutions through the cloud and as well as the on-premises deployment. This software has a very user-friendly interface and a conducive pricing module.
It delivers clients a suite of integrated functions such as; financials, manufacturing, project accounting, distribution, construction and CRM. The company also has many global partners and complementary applications that integrate with the ERP modules and improve its functionality.
Pros
- Acumatica is best for small and medium-sized businesses.
- The pricing module of this software is very flexible and transactions based making it very feasible for small businesses.
Cons
- The functionality of the mobile application of Acumatica is very limited and need improvements.
- Some users complain about the software’s email integration not being very efficient. System email accounts don’t work well for most users.
- Deltek
This company provides an ERP system that includes; project management, human capital management and information management along with other small business software solutions. These are cloud-based ERP systems that enable businesses to facilitate their operations and improve departmental integration.
Aerospace, defence, education, non-profits and healthcare are some of the industries that use Deltek ERP software more frequently.
Pros
- Deltek enables you to make customizable dashboards with much ease and without the help of external consultants.
- This software not only supports web browsing on desktops but also has applications for mobile users.
Cons
- The user interface of the software is not very up-to-date and could use significant improvements.
- The reliance on Internet Explorer on Pc for software access is a big no for most users, as this browser is outdated and is not much used.
- SAP ERP
SAP ERP is one of the best enterprise resource management tools for scalability for many small and medium-sized businesses. With more than 200M subscribers and 14 years of experience, SAP ERP has been a contender for top ERP systems.
SAP ERP provides very adaptable and customizable features of financial and cash management. You can look into your customer and employee insights as well as handle the international trades of your company. Its integration with other SAP solutions makes it more plausible to be used.
Pros
- SAP ERP is the best enterprise resource management solution for large business organizations.
- Software is also available with a mobile interface which makes it possible for you to access data in real-time from anywhere.
Cons
- The complexity of the software can be a bit hard to understand for amateur users.
- The SRP ERP is also as costly as it is complex so it is not very provident for small businesses.
- ECI Solutions
This is a cloud-based and on-site ERP software that provides the best business management solutions to small and medium-sized businesses.
Implementation, analytics, consultations, management tools of ECI allows you to aptly upgrade your business. It also supports product-specific training and helps you to streamline your day-to-day business operations.
Some of the businesses that benefit from this specific ERP are; manufacturing, office supplies, furniture, lumber and building materials.
Pros
- Setting up an account is quite easy and the software also allows the integration of third-party applications.
- ECI specifically provides opportunities for growth to small and medium-sized businesses.
Cons
- Customization costs of the software are very high so, you need to be very accurate while choosing the customizable features.
- Integration with third-party applications is not very smooth and need improvements.
- Epicor
Epicor is one of the largest ERP companies, providing its services to manufacturing, distribution, services organizations and retail businesses.
The company delivers unique business solutions for business processes and operational needs through cloud-based and on-premises software.
With 50 years of experience, Epicor offers numerous business management solutions as; financial, HR, sales and supply chain management. Clients of Epicor are also able to benefit from the modules of consulting, migration, education, cyber security and implementation.
Pros
- Epicor offers a highly customizable interface and dashboards that even enables you to add real-time updates as you like.
- The usage of Microsoft SQL SSRS instead of Crystal Reports makes Epicor considerably more agile.
Cons
- This software is very complex and so is its implementation, it may take months before you can make proper use of its functions.
- You need the constant support of consultants to ensure the complete deployment, customization, and use of the software.
Conclusion
To conclude, enterprise resource planning (ERP) has revolutionized the way business is being conducted throughout the world. ERP software companies have enabled enterprises to manage their day-to-day business operations most efficiently and effectively possible.
Long gone are the days, when you had to manage several spreadsheets, visit manufacturing and distribution sites all by yourself.
Because now ERP solution providers make it possible for you to overview all your business departments and their tasks through a single central database.
Consequently, ERP software is a key tool for your business if you wish to propel it to the top as well as improve its productivity and efficiency.
