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Monday, July 26, 2021

7 Best ERP Software for your business

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Earlier, the usage of ERP software was reserved for large enterprises with complex needs. However, modern cloud deployment has made it more accessible to SMEs and SMBs alike. 

Interestingly, as per a survey of IT decision-makers, 53% said ERP was an investment priority in addition to CRM.

Any organization willing to manage its operations from a centralized platform can benefit immensely from ERP software

While it is easier for smaller businesses to use multiple platforms for various business functions, it is not the case with big enterprises. 

Bouncing back and forth between solutions can be a challenge. It can be a great waste of time if the tools you’re using don’t align with each other. 

To help you save the effort of analyzing several ERP software, we have come up with a list of some of the best ERP software for your business. 

1. Acumatica 

Acumatica is one of the leading cloud-based ERP solutions in the market. It is highly adaptable, easy to implement, and flexible. This makes it an excellent option for SMEs that plan to or are in the process of scaling quickly. 

From managing finances to customers, material purchasings to making appointments, Acumatica does it all!

Businesses investing in this software can benefit from increased productivity, advanced reporting and analytics, and enhanced cash flow.  

At the same time, Acumatica is ideal for food and beverage businesses, telecommunication companies, and healthcare providers. 

Pros

  • Customizable
  • Ready to use from the box
  • Get access to powerful dashboards 
  • Value for money 
  • Flexible 

Cons

  • Report designing is not at par with other tools 
  • It can be difficult to navigate initially
  • Limited mobile app functionalities 
  • No supplier remittance function

Pricing: Quote-based 

2.  Oracle NetSuite 

One of the well-known names in the business software space, Oracle NetSuite, is trusted by 21,000+ organizations worldwide. It is one of the highest-rated cloud ERP solutions and is known for its robust technology. 

With NetSuite, you will be able to streamline and automate core business processes. It comes with built-in business intelligence tools. 

Thus, providing you with the best data and visual analytics to make meaningful business decisions.

It is an ideal choice for young-age startups and organizations with high scaling needs. 

Pros

  • Customizable reports
  • Ability to make modifications without prior coding knowledge

Cons

  • Need for more user-friendly reporting system 
  • High costs
  • Requires a better layout for vendor management

Pricing: 

Base License  Access Costs
$999 per month  $99 per user, per month

 

3. Infor 

With one of the most extensive ERP product catalogs in the market, Infor has been designed to accommodate SMBs and enterprises alike. 

With 68,000 clients across the globe, Infor has established its name across various industries. 

Infor can simplify complex operational issues, boost productivity and streamline workflows. 

Infor’s tools include role-based interfaces, agile innovation, warranty tracking, and embedded analytics.  

Furthermore, Infor provides exceptional customer support and 24/7 access to your ERP solution via mobile. 

Pros 

  • Easy job tracking process 
  • Streamlined accounting functions 
  • Great customization capabilities 

Cons

  • It needs a better graphic user interface (GUI)
  • Requires an upgraded HR module 

Pricing: 

One-time license Cost Annual Licensing Fee 
$795/user to $1,095/per user for named user license $200 

 

4. IQMS 

Designed for manufacturing organizations, IQMS provides various deployment options and industry-specific modules.  

IQMS offers solutions across manufacturing categories, including medical manufacturing, packaging, automotive manufacturing, process-specific BOMs (bill of materials), contract manufacturing, and more. 

IQMS also offers dozens of tools to optimize and streamline your entire operation. 

The solution has been built for end-to-end visibility, control, and automating the manufacturing process. 

It is a smart choice if you’re interested in easy scalability, less downtime, and improved productivity. 

Plus, IQMS offers the broadest range of manufacturing-specific modules in the industry. This helps minimize the number of third-party integrations required to achieve operational efficiency. 

Moreover, it is available as an on-premise or cloud-based deployment to match your business’s needs. 

Pros

  • Excellent support 
  • Great sync between manufacturing and accounting modules

Cons

  • Implementation is a lengthy affair
  • Cumbersome reporting 

Pricing: Quote- Based

5. Epicor 

Epicor is an ideal choice for anyone looking for a highly flexible and customizable ERP solution. 

It supports a wide range of industries, including lumber and building materials, retail, distribution, manufacturing, and more.

With Epicor, you’ll get the option to deploy the software as cloud-based SaaS or on-premises. 

Moreover, Epicor is IoT-enabled, giving you the ability to monitor your facility in real-time using data from sensors or programmable logic controllers (PLCs).

For B2Bs and B2Cs alike, Epicor is one of the leading ERP software in the market today. 

Pros 

  • Great dashboard and reports capabilities
  • Easily accessible from all modules 
  • User-friendly interface

Cons

  • Complicated installation process 
  • Needs more robust in-program training features

Pricing: Starts at $175 per user/month

6. Deltek 

Trusted by 30,000+ organizations worldwide, Deltek offers an extensive list of business solutions in various categories. 

While most ERP software in the market are designed for larger enterprises, Deltek has solutions designed specifically for small businesses.

Deltek is known for its professional services automation tools. They have been designed to automate core business operations and eliminate barriers between departments. 

You can also leverage its advanced reporting features and get real-time visibility into your organizational processes. 

While larger organizations will find some of these tools a bit limiting, Deltek also has other products for enterprises like commercial enterprise professional services. 

But overall, it’s a more suitable choice for fast-growing small-to-midsize businesses. 

Pros 

  • Access project data from a single database 
  • Easy implementation

Cons

  • Learning curve can be steep
  • Needs advanced reporting features 

Pricing: Quote-based 

7. OSAS Traverse 

OSAS Traverse is the perfect solution for businesses who want an ERP solution focussed on financial management. 

It is highly flexible and provides tools to manage a variety of business processes within a single system.

OSAS has tools to accommodate small businesses, mid-size organizations, and enterprises alike. 

If you’re a smaller business that wants to upgrade from its existing solution to a more advanced accounting system with integrated ERP capabilities, OSAS Traverse is a perfect choice. 

It is ideal for nonprofits, service repair organizations, field service industries, food businesses, and businesses in the cannabis field. 

Lastly, it is easy to deploy and is available as both an on-premise and cloud-based solution. 

Pros

  • Can quickly filter information
  • Performance-oriented
  • Provides 24/7 support

Cons

  • Lack of reporting features 

Pricing: Starts at $100.00 per month

Wrapping Up

An ideal ERP solution can fulfill most of your needs. Most of you probably would not require every single application or business function under the sun. 

So, it is better to look for software that can be customized as per your business needs.

There are dozens of business-specific needs within the ERP category, from human capital management to order management, financial planning, and fulfillment. Analyze what works best for you, and then single out a software. 

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