What is ERP Software?
Enterprise Resource Planning (ERP) software is a business process management software that allows a business to organize the multiple processes involved and manage all of them on a single platform. These are very powerful tools that allow a company to carry out all the ERP functions related to technology, services, finance, and human resources.
A typical ERP tool consists of many modules which covers the entire range of business functions. Each module is dedicated to the business function and takes care of the whole range of the specific function.
There are many ERP systems in the current market, and choosing the best new technology is confusing. So, to help your decision, I ranked and reviewed some of the best ERP software based on integrations, production features, security, implementation timelines, pricing, support, and more.
Let’s get into the list.
1. Oracle NetSuite
Oracle NetSuite is an all in one business management suite which encompasses ERP applications, financials, CRM, and eCommerce for more than 18K satisfied customers.
Key Features:
- Financial Management and Planning: It helps you to combine financial information with the instant business intelligence to drive quicker decision-making. It also helps in forecasting, capacity, scheduling, and aggregate planning decisions.
- Order Management: It combines the process of sales, finance, and fulfillment to take care of pricing and sales order management.
- Production Management: It allows you to complete control over production schedules and processes and helps in efficient product lifecycle management.
- Human Capital Management: It helps you to make the most out of your investment in human capital by ensuring that the right person is assigned the right job.
Pricing Plans:
Pricing depends on integrations needed, add-ons available, etc. The base license costs $999 per month and the access cost is $99 per user per month.
2. Microsoft Dynamics
Microsoft Dynamics is an ERP and CRM software that is perfect for the industries like finance, retail, manufacturing etc. Currently, it is used by more than 2 Lakhs people worldwide.
Key Features:
- Focus Industries: It focuses on multiple industries, including retail, service, manufacturing, finance, and the public sector.
- Predictive Analytics: It comes with an in-built analytics module that generates actionable insights and robust reports.
- Third-party Integrations: It is Widely integrated with several applications, like Outlook, Lync, Sharepoint, Word, among others.
- Mixed Reality: This software can provide layout (lets you design physical spaces virtually) and remote assistance.
- Pricing Plans:
Microsoft Dynamics offers four pricing plans.
- The ‘Customer Engagement’ costs $115 per user per month,
- The ’Unified Operations’ costs around $190 per user per month,
- The ’Dynamics 365’ plan costs $210 per user per month,
- The ’Applications & Offers’ plan costs in between $40 to $170 per user per month.
3. Sage 300
Sage 300 is a Windows-based ERP system that runs on the Microsoft SQL. Currently, it has over 2 million global users and it has been perfect for small and medium businesses.
Key Features:
- Manage Multiple Companies: This software makes it very easy to manage the multiple companies and accounts. It is also making it easier to report the results by the company and consolidated company.
- International Business Made Simple: International business will be very complicated, but Sage 300 is easier by maintaining an unlimited number of currencies, exchange rates, and automation of gains or losses from the fluctuations.
- Inventory Management: Inventory management tools take care of the essential steps like shipments, returns, and adjustments. The Sage 300 also offers multi-location inventory tracking.
- Automate Finances: Your whole finance management is automated, along with the monthly bank statement reconciliation.
Pricing Plans:
The pricing is personalized and quote-based. It depends on the wide range of factors like user count, support needs, functionalities, and many more.
4. Odoo
Odoo is a comprehensive business software which offers a wide range of applications like CRM, project management, ERP, inventory, and warehouse management.
Key Features:
- Inventory Management: It has a unique, double-entry inventory management system which tracks the whole product journey from the manufacture to sale.
- Quality Checks: This software can automatically ensure the quality checks for the manufacturing department.
- Centralized Employee Database: This software can pool all the details of the whole workforce on the same platform for instant access.
- Automatic Stock Adjustments: This is a feature tailor-made for the eCommerce business, stock can be maintained by the automatic stock adjustments.
Pricing Plans:
Firstly, the ‘Odoo Enterprise’ plan offers a 15-day free trial period. After that, the price is around $6 per user per month (paid annually). You should have to pay extra if you require additional apps. Other than that, the ‘Odoo Community’ plan is free for use.
5. Infor
This is a cloud-based ERP software which caters to a wide range of industries, such as manufacturing, healthcare, and retail. Modern end-to-end solutions are powered by AI. Furthermore, it is built on the powerful Infor Coleman AI platform.
Key Features:
Data Analytics: It can provide the actionable insights for the businesses to adopt. Moreover, it can handle a large amount of multi-dimensional data, which will help you to visualize the results in several ways.
Planning and Scheduling: It allows you to workforce planning which can help the businesses plan the production and take care of scheduling. It also makes sure that there is no shortage of workers, and production requirements are met.
Workforce Management: It optimizes the hiring process and ensures that you hire the right talent for the right position.
Asset Management: This helps you in maximizing the reliability and performance of assets, predict failure, carry out preventive actions, and streamline various processes.
Pricing Plan:
At present the pricing details are not available on the website. You have to get in touch with the company for a detailed quote.
6. Syspro
This software is based out of South Africa, and Syspro is an ERP software platform which focuses on streamlining business activities like financial, warehouse, and inventory management across the entire business supply chain and operations.
It specializes in manufacturing and distributing sectors and is currently used by more than 3lakh professionals worldwide.
Key Features:
Business Digitalization: This software is focused on the adopting emerging, value-adding technologies, and using AI to facilitate the integrations.
Security Management: This is a four-dimensional security management that takes care of access levels, controls, visual monitoring, and auditing.
Advanced Technology Architecture: This software provides a unique combination of robust, scalable solutions which minimizes the risk and maximizes ROI.
Pricing Plans:
It is not displaying the pricing plan options on the official website.
7. SAP Business One
It is an ERP software for the small businesses, SAP provides visibility and complete control of all the aspects of your business. Not best for mid-market businesses, it’s integrated with the SAP HANA platform and boasts more than lakh users.
Key Features:
- Financial Management: It helps to improve margins, reduce errors, and enhance profitable decision making.
- Sales and Customer Management: It enables overseeing the entire sales process and customer lifecycle more efficiently.
- Reporting & Analysis: It designs detailed reports on all aspects of sales funnel, from forecasting to pipeline tracking.
- Customer Management: it stores all your customer information in a central repository for ready access.
- Marketing Campaign Management: It creates and manages marketing campaigns to convert prospective leads into customers.
Pricing Plans:
The pricing can vary based on the several factors like deployment, integrations, and add-ons required. Usually, for a professional license, the price is around $94 per user per month. For a limited license, the price is around $54 per user per month.
8. Workday
Workday is an on-demanding cloud-based ERP software for medium and large enterprises. Its primary focus areas include financial management and human capital management.
It is inexpensive and quick to set up. The whole business model of Workday involves giving subscriptions to use the various services rather than selling the tool.
Key Features:
- Business Planning: It provides comprehensive financial and workforce planning to help businesses become adaptive and flexible.
- Financial Management: It provides holistic management like accounting, finance, audit and internal controls, financial planning, expenses, inventory, and much more.
- Human Capital Management: It offers a comprehensive set of functions like talent management, workforce planning, payroll management, people experience, recruiting, compensation, and many more.
- Analytics: This is an In-built analytics module aids in making data-driven decisions?
Pricing Plans:
The pricing details aren’t available on the website. If you want to get a personalized quote, you need to contact one of the sales representatives.
9. Deltek
Deltek is an ERP system which focuses on delivering the best business solutions to the clients and help them to automate and connect the project life cycles that fuel their business.
Key Features:
- Project and Portfolio Management: With the features like insight analytics, enterprise planning, and scheduling tools, it also provides a platform for project management with cost, reporting, and risk analysis.
- Information Management and Collaboration: It gives you the access to all the information via a single repository, that empowers the teams for better communication and speeds up approval and review procedures.
- Human Capital Management: This is an excellent feature that lets businesses hire the right talent for the right position.
- Vantage Point for A&E and Consulting: It is a comprehensive solution for architecture, engineering, and consulting firms to manage projects from start to finish.
It has three project ERP solutions:
Maconomy – focuses on financials
Vision – the focus is on SMEs to help them to manage resources better
Cloud – It provides high scalability & full disaster recovery
Pricing Plans:
The pricing is not available on the website. To get a detailed quote, you have to get in touch with the one of their sales representatives.
10. Epicor
Built for manufacturing growth, I also help businesses and manufacturers use the data and automation to stay profitable.
Key Features:
- Comprehensive CRM: It helps businesses manage leads, customers, contacts, and quotes.
- Planning & Scheduling: It Anticipate and tackle changes in demand to minimize downtime and disruption.
- Human Capital Management: It is Effective and efficient management of the human capital, assigns the right tasks to the right people and fosters a culture of collaboration.
- Enterprise Content Management: It Manage, access, retrieve and store documents and content any time on any device.
- Project Management: It helps you comprehensively plan and execute multi-level projects.
Pricing Plans:
The pricing plans start from $175 per user per month. For a modular architecture, you can pay for the specific features or modules that you need.
