Software program known as Enterprise Resource Planning (ERP) is used to combine and automate important corporate operations in areas including finance and accounting, manufacturing, supply chain management, project management, human resources, procurement, etc.
The objective of putting in place an ERP system is to automate corporate procedures by using a single integrated software program.
There are numerous ERP Software systems are created to fulfill the demands of particular company sectors or kinds. While some ERP systems are more generic and may be utilized by a variety of enterprises, others serve specialized industries, like manufacturing or retail.
The finest ERP software will help your company become more productive by eliminating waste and enhancing information flow throughout the company.
What is ERP Software?
Enterprise resource planning (ERP) or Enterprise Resource Management (ERM) is another name for the system used to manage the whole company.
This market is large and includes many people providing goods to different niches and segments. Early in the 1990s, MRP (Manufacturing Resource Planning) or manufacturing ERP software systems gave way to ERP systems.
However, modern ERP systems encompass all operational elements of a corporation, including sales, services, HR, finance, etc. These earlier systems were concentrated on manufacturing processes. Integrating all corporate divisions into a single system is the primary goal of ERP software.
Functions of ERP Solutions
Enterprise resource planning systems will make both short- and long-term planning easier for you to do. Some of the benefits of ERP Solutions is
- It Cost Focus
- Enhanced Workflow and Collaboration
- Standardized Business processes
- Better planning and reporting
- Data Quality and Security
Best ERP Software Solution
There are so many ERP Solutions that help your small business to flourish more and more. Let’s discuss them in detail. ERP software examples are as follows.
1. Oracle Netsuite
Oracle is said to be the best ERP Software solution offering a wide range of software alternatives in many industries and pursuits. As a result, the company has also created the top ERP systems using Oracle Netsuite. There are several cloud-based apps available on the platform.
These applications come from a variety of specialties, including finance, human resources, and other professional services. Oracle Netsuite is presently used in more than 200 nations worldwide because of the incredible features and advantages of this platform. The platform may first be tried out for free before you ultimately decide whether or not to purchase it.
Features of Oracle Netsuite
- Financial management tools in NetSuite include built-in business intelligence.
- It has financial planning elements that reduce cycle time and improve the planning process.
- It has Order Management features that speed up the order to cash process.
- Supports multiple features and functions like Procurement, Warehouse & Fulfillment, Supply Chain Management, etc.
2. SAP S/4HANA
SAP is another industry leader in ERP Software and the most popular ERPs are SAP products that hold a large portion of market shares. It is specially designed for large-sized businesses.
It has multiple options available such as real-time data analytic capabilities and hybrid, on-premises and cloud deployment, etc.For advanced analytics and data processing, it includes High-Performance Analytic Appliance which is a memory relational database management system.
Features of SAP S/4HANA
- It includes Intelligent technologies like AI, machine learning, and advanced analytics.
- It has a streamlined data model and an in-memory database.
- It is equipped with best practices and skills for a variety of sectors.
3. Microsoft Dynamics
Another best ERP software that includes a solution for mid, small-sized, and large businesses. It contains ERP and CRM software applications. It is said to be the best solution for accounting, SCM, HCM, social responsibilities, etc.
It integrates the products like Microsoft Office, Microsoft Azure, and Microsoft SharePoint.Microsoft established its own Dynamics product line in 2001, but throughout the years, it has bought several ERP solution suppliers.
It purchased Great Plains Software in 2002 along with its Navision ERP program, and Solomon Software and its Solomon IV ERP program in 2003.
Features of Microsoft Dynamics
• Uses cloud-based integration of ERP and CRM features.
• It includes modules for things like Field Service, Sales and Marketing, and Finance & Operations.
4. SAP Business One
For small businesses with room to expand, SAP Business One is specifically created. The platform enables you to access all of your company’s critical information at precisely the right time, enabling you to make the best decisions quickly and easily.
Using this platform, you may cost-effectively run your company. SAP supports several industries, including sales, buying, customer service, and many more. It gives you the option to select from many dashboard designs so that you may better manage your business via this ERP Software.
Features of SAP Business One
• It is used to manage your whole business.
• It provides features and functions for business intelligence, purchasing & inventory control, sales & customer management, financial management, and analytics & reporting.
• It is a platform that is used to automate your activities.
It is a cloud-based ERP Software for manufacturing that provides answers for the field service edition, commerce edition, manufacturing edition, distribution edition, general business edition, and manufacturing edition.
You may get real-time information from any location at any time because it is a cloud-based service. Both on-premises and in-the-cloud deployment options are available.
Features of Acumatica
• It is a full package with financial, CRM, project management, and other business options.
• It has a distribution Edition that provides features for tracking inventories, automating purchases, organizing quotations and orders, and enhancing customer service.
• With capabilities for service orders, appointments, contracts, warranties, etc., every step of your field service operations may be monitored and optimized.
6. Odoo ERP
Last but not least in the list of best ERP software is Odoo ERP which is an open-source platform and can be fully customized to meet your needs and potential business prospects. The platform is accessible to assist company establishments from many sectors and in various disciplines, including production, inventory, accounting, sales, and CRM.
The best thing about Odoo is that it is affordable and practical for businesses of any size. Additionally, this automated platform provides an easy way to integrate many apps. The platform’s function is to centralize all operations and activities.
The platform is creative and user-friendly, and it has many modules that you could occasionally require when using Odoo for your business.
Features of Odoo ERP
• Helps you to automate business processes.
• Provide completely integrated apps.
• You can track everything automatically.
• It is a centralized solution that can be used anytime, anywhere.
In a Nutshell
That’s all! If you want to manage your small, mid, or large-sized business then use ERP software that provides you with an integrated set of applications. It is up to you to select the software of your choice depending upon some factors of an organization like the size of the organization or cost involved, etc. Above mentioned are a few of the best software, select one of them and also share it with others.