11 Best ERP Software of 2023 (Systems Ranked & Compared)

Want to get right to it? Oracle NetSuite is the best ERP Software in the market right now.

All companies have silos. Each business unit works independently, and the smooth transfer of information between the departments is challenging. Improper enterprise resource planning leads to a loss of precious time, a lack of collaboration, and low business flexibility.

ERP software is enterprise software that overcomes these challenges.

Enterprise resource planning (ERP) is a form of business process management that streamlines your systems and software. An ERP software merges various departments, processes, and business units by unifying them on a common platform, where all team members can access real-time information.

The best ERP software integrates business processes like project management, business analytics, CMMS software, HR, and enterprise CRM software to increase efficiencies, reduce errors, and prevent excess spending.

In fact, the question of choosing between ERP vs CRM software is one that will probably always deserve significant thought.

However, when it comes to ERP systems, there are many new ones on the market, and choosing the best new technology might be a step by step process depending on your needs.

What is the Best ERP Software?

Here are my picks for the best ERP software to use this year.

1. Oracle NetSuite.

Best for those wanting to make better, faster and more accurate decisions.

Adam’s Take

If you’re looking for an overall view of your business, you need the right ERP software. That said, I recommend you to check out Oracle NetSuite as a comprehensive ERP system that can help you manage every facet of your business, from sales and marketing to finance and HR. With Oracle NetSuite, you’ll have everything you need to make informed decisions and drive your business forward.

out of 10

Best For

Best Overall

Price

$99+/mo

Annual Discount

No

Get Started

Free Product Tour

Try Oracle NetSuite

NetSuite is an all-in-one business management suite and ERP platform that encompasses ERP applications, financials, CRM, and ecommerce for more than 18,000 satisfied customers.

Furthermore, it’s a reliable and world-class organization that allows organization-wide automation in the cloud through seamless integrations.

Check out my comparison article where I review SAP vs. Oracle head to head.

Key Features:

• Financial Management and Planning: Helps you combine financial information with instant business intelligence to drive quicker decision-making. It also helps in forecasting, scheduling, capacity, and aggregate planning decisions.
• Order Management: Combines business processes of sales, finance, and fulfillment to take care of pricing and sales order management.
• Production Management: Allows complete control over production schedules and processes and helps in efficient product lifecycle management.
• Human Capital Management: Helps you make the most out of your investment in human capital by ensuring that the right person is assigned the right job.

User Experience:

The helpful dashboard allows you to see all the important data in one place, and the visual elements make it easy to understand what’s going on.

With various features and options, the software is highly customizable and users can tailor it to their specific needs.

Pricing Plans:

The plans are quote-based and are tailor-made and personalized for individual requirements.

Pricing depends on the integrations needed, add-ons available, etc. The base license costs $999 per month and access cost is $99 per user per month.

What I Like/Dislike About Oracle NetSuite:

Like:

• Offers high level of automation
• Highly flexible and customizable
• Provides excellent customer support
• Robust functionality and high scalability
• Digital, comprehensive dashboards available
• Excellent PRM (Partner relationship module)
• Efficient security protocols in place
• Supports multiple languages and multiple currencies
• This ERP software is upgraded twice a year
• Nearly 100% uptime
• Provides remote accessibility for enhanced business unit collaboration
• Suitable for all types of businesses and company size, whether it is a small, medium, or large business
• In-built data analytics module to generate actionable insights

Dislike:

• Customer support has many complaints
• Product upgrades are a bit challenging
• Doesn’t offer an on-premise version
• Initial learning curve may be challenging for new users

Product Updates:

• More efficient warehouse operations to improve productivity
• The NetSuite financial dashboard in Cash 360 lets you see your cash situation as well as forecast near-term cash flow by using NetSuite transactional data.

Get started with NetSuite.

2. Microsoft Dynamics.

Best for those who want to deliver their customers the best operational experience.

Adam’s Take

Microsoft Dynamics would be my recommended software if your business operates in the finance, retail, and manufacturing industries. One of the main reasons I recommend this software is because it offers businesses a comprehensive view of their financial situation. The software also has excellent support for resources, such as inventory and production.

out of 10

Best For

Top Operations

Price

$40/mo-$210+/mo

Annual Discount

No

Get Started

Request A Call

Try Microsoft Dynamics

Microsoft Dynamics is an ERP and Customer Relationship Management (CRM) software system that is perfect for industries like finance, retail, and manufacturing, among others. Currently, it is used by more than 200,000 stakeholders worldwide.

Key Features:

• Focus Industries: Focuses on multiple industries, including retail, service, manufacturing, finance, and the public sector.
• Predictive Analytics: Comes with an in-built analytics module that generates actionable insights and robust reports.
• Third-party Integrations: Widely integrated with several applications, like Outlook, Lync, Sharepoint, Word, among others.
• Mixed Reality: The ERP software system can provide layout (lets you design physical spaces virtually) and remote assistance (collaborate with employees through HoloLens).
• Extensive Marketing: Through its Adobe Marketing Cloud and Dynamics 365, it forms a closed-loop marketing system that enables you to analyze the results of your marketing campaigns.

User Experience:

The software is easy to use with various views you can set up and personalized.

You can view different graphs and pie charts to see how your business is doing, while even enabling multiple dashboards for a more in-depth look into your data.

Pricing Plans:

Microsoft Dynamics offers four pricing plans.

The ‘Customer Engagement’ is $115 per user per month, the “Unified Operations” costs $190 per user per month, the ’Dynamics 365’ plan is $210 per user per month, and the ’Applications & Offers’ plan costs anything between $40 to $170 per user per month.

What I Like/Dislike About Microsoft Dynamics:

Like:

• Provides a highly collaborative environment (users can interact in Yammer)
• Extensive customer support options, including phone and live chats
• Highly customizable and scalable ERP software
• Gives server-to-server authentication to enhance data security and data management
• Compatible with numerous platforms, including iOS and Android
• Improves visibility of Key Performance Indicators (KPIs), like revenue, turnover and underlying issues
• Extensive automation available
• Strong security features

Dislike:

• Doesn’t provide 24/7 customer support
• Doesn’t offer a free trial period

Product Updates:

• The ability to access more data and knowledge will assist them in predicting, comparing yearly forecasts, and more.
• Leverage the power of data and AI to enhance content creation and delivery in marketing.

3. Sage 300.

Best for a business management solution from one location.

Adam’s Take

Looking to manage your business inventory, finances, and operations more efficiently? Sage 3000 is an enterprise resource planning software that can help. I like their product because it focuses on business growth specific to your company’s needs. With the possibility of automating your finances, you can focus on other business areas while tapping into proven solutions that have worked for other businesses.

out of 10

Best For

Business Management

Price

On Request

Annual Discount

No

Get Started

Request Information

Try Sage 300

Sage 300 is a Windows-based ERP system that runs on Microsoft SQL. Currently, it has over 2 million global users and is perfect for small and medium businesses.

Key Features:

• Manage Multiple Companies: This ERP software system makes it very easy to manage multiple companies and accounts. It also makes it easier to report results by the company and consolidated company.
• International Business Made Simple: International business can be complicated, but Sage 300 makes it easier by maintaining an unlimited number of currencies, exchange rates, and automation of gains or losses from fluctuations.
• Inventory Management: Inventory management tools take care of essential steps like shipments, returns, and adjustments. Sage 300 also offers multi-location inventory tracking.
• Automate Finances: Your entire finance management is automated, along with the monthly bank statement reconciliation

User Experience:

The ability to compare current results with previous ones right from the dashboard is a great way to help users understand how their business is doing.

Sage 300 also makes it easy to monitor KPIs, so you can see how your business is performing at a glance.

Pricing Plans:

The pricing is personalized and quote-based. It depends on a wide range of factors like user count, support needs, functionalities, and more.

What I Like/Dislike About Sage 300:

Like:

• Comes in numerous languages, including English, Spanish, French, Italian, and more
• Provides intelligent reporting
• Displays and helps track accounts payable
• Visualizes KPI dashboards
• Offers customer support via phone and live chat
• Wide range of integrations with applications like Amazon, Magento, Shopify, Salesforce, and more
• Enables key stakeholders to get access to instant information for more informed decision-making
• It can provide a solution for a wide range of industries such as construction, manufacturing, wholesale distribution, chemicals, food and beverage, professional services, and non-profit organizations
• 24/7 access to support articles, production documentation, latest updates and more
• Provides forums to share your review, tips, and suggestions
• Navigation menu and dashboard widgets are customizable

Dislike:

• Doesn’t offer a free trial
• Hefty price tag for smaller businesses

Product Updates:

• Change Web UI font size to improve readability for users.
• Sales Withholding Tax is a new feature that allows businesses to withhold tax at the time of invoicing customers.

4. Odoo.

Best for those wanting the right solution to help employees do their job.

Adam’s Take

It’s a well-known fact that happy and satisfied employees with their jobs are more productive. The converse is also true – employees that are unhappy with their jobs are less effective. This is where Odoo comes in. With a software package that integrates apps that can help with everything from CRM to project management, it’s no wonder that more and more businesses are making the switch to Odoo – and that’s why I recommend that you check it out as an ERP solution.

out of 10

Best For

Satisfied Employees

Price

$12+/mo

Annual Discount

No

Promotion

15-day Trial

Try Odoo

Odoo is a comprehensive, all-in-one business ERP software system that offers a wide range of applications like CRM, project management, ERP modules, inventory, and warehouse management.

Key Features:

• Inventory Management: Odoo has a unique, double-entry inventory management system that tracks the entire product journey from manufacture to sale.
• Quality Checks: The ERP software can automatically ensure quality checks for the manufacturing department.
• Dedicated Customer Portals: The dedicated customer portals ensure customer data is stored and accessible in a highly organized manner.
• Centralized Employee Database: The ERP software system can pool all human resources data and the details of the entire workforce on the same platform for instant access.
• Automatic Stock Adjustments: A feature tailor-made for ecommerce business, stock can be maintained by automatic stock adjustments.

User Experience:

Multiple apps make up the software, which can be a bit overwhelming for first-time users.

However, once the initial set-up is done, the software is easy to use and navigate.

Everything is neatly organized and the dashboard provides a good overview of your business.

Pricing Plans

Initially, the One App plan is offered to be entirely free. Other than that, when subscribed to the Standard plan, the price is $24 per user per month (paid annually). You’d have to pay extra if you require additional apps. Afterward, the Custom plan is sitting at $37.40 for users monthly.

What I Like/Dislike About Odoo:

Like:

• Offers a wide range of hosting choices, including cloud hosting, on-premise hosting, or Odoo cloud platform
• Multi-language customer support teams (English and French)
• Email and live chat support
• Get to use your own domain name
• Offers an excellent free lifetime offer (if you don’t install extra integrations) called Odoo community
• Option for a wide range of integrations (DHL Express, FedEx, eBay, VoIP, and more)
• Highly customizable since it is an open-source ERP software
• Automated invoicing procedure
• Offers 15-day free trial period
• Highly detailed reporting and analysis features

Dislike:

• Customer support can be slow and is available only from Monday to Friday (24/7 not available)
• A beginner might find it challenging to operate
• Additional payment for every extra app installed (difficult for those on a budget)

Product Updates:

• To schedule a new meeting, fill out your calendar or select an appointment type, making it easier to manage your time
• Localisation done for Czech Republic, Slovakia, which shows a long-term plan for various other countries as well

5. Infor.

Best for those looking for better managing of business operations.

Adam’s Take

Deeply understanding your ERP comes down to analytics. By ensuring that your data is accurate and accessible, you can model various “what if” scenarios to find the optimal solution for your business. The benefits of Infor come to light when you can drill down into the data and see how it affects different parts of your organization. If you’re looking to know the exact numbers for your enterprise, Infor is the software for you.

out of 10

Best For

Analytics

Price

On Request

Annual Discount

No

Get Started

Request Information

Try Infor

Infor is a cloud-based ERP software system that caters to a wide range of industries, such as manufacturing, healthcare, and retail. Its modern end-to-end solutions are powered by artificial intelligence. Furthermore, it is built on the powerful Infor Coleman AI platform.

Key Features:

• Data Analytics: With its in-built data analytics suite, it can provide actionable insights for businesses to adopt. Moreover, it can handle a large amount of multi-dimensional data, which can help you visualize the results in several ways.
• Planning and Scheduling: It allows workforce planning that can help businesses plan the production and take care of scheduling. It also makes sure that there’s 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 positions.
• Asset Management: It helps you maximize the reliability and performance of assets, predict failure, carry out preventive actions, and streamline various business processes.

User Experience:

With the ability to manage employees and plan their roles within the company, Infor provides a great solution for businesses.

It does this in an easy to work with interface that is both visually appealing and intuitive.

Pricing Plan:

The pricing details are not available on the website. You have to get in touch with the company for a detailed quotation.

What I Like/Dislike About Infor:

Like:

• Offers both on-premise and cloud deployment
• It is compatible with all mobile devices, including tabs, etc.
• 24/7 customer support (email, phone, social media and live chats)
• Highly customizable
• It’s a multi-language platform for maximum outreach
• Allows excellent collaboration between business units
• Allows a high level of automation of workflows
• Excellent job-tracking feature (all along the funnel from manufacture to sales)

Dislike:

• It isn’t very compatible with Excel
• Running tasks in the background can cause the ERP software to slow down
• Can be challenging to use for a beginner
• Customer support may not be rapid
• Drill-down options are available but limited
• Somewhat pricy for smaller businesses

Product Updates:

• New Quota and Forecast views show how an individual is performing against their targets and can help with sales planning.
• Activities list view now supports groups and standard list view features, making it easier to manage your workflow.

6. Syspro.

Best for those looking for an ERP solution that works on their terms.

Based out of South Africa, Syspro is an ERP software platform that focuses on streamlining business activities like financial, warehouse, and inventory management across the entire business supply chain and operations.

It specializes in the manufacturing resource planning and distribution sectors and is currently used by more than 300,000 professionals worldwide.

Key Features:

• Business Digitalization: The ERP software system is focused on adopting emerging, value-adding technologies, and using AI to facilitate the integrations.
• Security Management: four-dimensional security management takes care of access levels, controls, visual monitoring, and auditing.
• Advanced Technology Architecture: The ERP software provides a unique combination of robust, scalable solutions that minimize risk and maximize ROI.
• Advanced Financial Management: Syspro delivers core financial and accounting functions and provides essential insights to minimize financial risk.

Pros:

• Can be deployed in the cloud
• Allows highly personalized workstations
• Engaging, flexible, fast, intuitive, and user-friendly (AVANTI adaptable interface)
• Instant business insights for immediate action
• Offers high scalability
• Offers APIs and services for improved integration
• Use of BOT agents that allow the automation of redundant steps
• Visualization of activity dashboard using graphs and charts
• Real-time predictive analytics modules
• Extremely secure servers ensuring data integrity
• Not much need for costly upgrade and additional IT support

Cons:

• Customer support could be better
• Direct supplier and transportation relationships are missing
• Brand recognition is limited
• User interface has lots of menus which can be daunting for new users

Pricing Plans:

Syspro doesn’t display the pricing plan options on the official website. You have to contact the company to receive a personalized quote.

7. SAP Business One.

Best for those that want to gain more insights and control to make effective real-time decisions.

Dubbed as an ERP software system for small businesses (SMBs), 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 100,000 users.

Key Features:

• Financial Management: Helps to improve margins, reduce errors, and enhance profitable decision making.
• Sales and Customer Management: Enables overseeing the entire sales process and customer lifecycle more efficiently.
• Reporting & Analysis: Design detailed reports on all aspects of sales funnel, from forecasting to pipeline tracking.
• Customer Management: Store all your customer information in a central repository for ready access.
• Marketing Campaign Management: Create and manage marketing campaigns to convert prospective leads into customers.

Pros:

• In-built business analytics
• GDPR-compliant (General Data Protection Regulation)
• Multiple deployment options (cloud, on-premise, and mobile)
• Offers various extensibility options (self-services customization, application extensions, service layer development)
• 24/7 support for critical issues via phone and online support
• Reduce duplicate costs
• Compatible with Windows, Android, Linux, Mac, and iOS
• Offers a wide range of integrations, such as Hybris Cloud, Dell Boomi, MuleSoft, and more
• Offers a free trial period
• ERP is great for businesses on the smaller side

Cons:

• Can be challenging to use for first-time users
• Beginners may find the design layout a bit challenging to navigate
• One of the pricier options in the market
• Your work won’t be saved automatically after every few minutes

Pricing Plans:

The pricing can vary based on several factors like deployment, integrations, and add-ons required. Usually, for a professional license, the price is $94 per user per month. For a limited license, the price is $54 per user per month. However, to get the exact quote, you’d have to get in touch with their sales representative.

8. Workday.

Best for ERP solution that evolves as fast as the business world does.

Workday is an on-demand cloud-based ERP software aimed at medium and large enterprises. Its primary focus areas are financial management and human capital management.

The best part is that it is relatively inexpensive and quick to set up. The entire business model of Workday involves giving subscriptions to use various services rather than selling the tool.

Key Features:

• Business Planning: Provides comprehensive financial and workforce planning to help businesses become adaptive and flexible.
• Financial Management: 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 more.
• Analytics: In-built analytics module aids in making data-driven decisions.

Pros:

• Phone, email, and online support
• Compatible with both iOS and Android mobile devices
• Comes with excellent data security protocols to ensure data integrity
• Provides an exceptional collaborative environment
• Mobile-friendly
• Offers extensive third-party integrations
• User-friendly and intuitive interface
• HCM system works well for HR and Payroll related tasks

Cons:

• Doesn’t offer a free trial period
• Cloud-based (cannot be used by businesses with specific on-premise requirements of ERP systems)
• Relatively high cost for smaller enterprises

Pricing Plans:

The pricing details aren’t available on the website. To get a personalized quote, you need to contact one of the sales representatives.

9. Deltek.

Best for streamlining and automating core business operations.

Deltek is an ERP system that focuses on delivering business solutions to clients and help them automate and connect project life cycles that fuel their business. It lets you holistically manage, develop, deliver, and measure every aspect of your business. What makes it stand apart from many of its counterparts is that it offers both cloud and on-premise hosting options.

Key Features:

• Project and Portfolio Management: With features like winsight 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 access to all the information via a single repository, which empowers teams for better communication and speeds up approval and review procedures.
• Human Capital Management: An excellent feature that lets businesses hire the right talent for the right position.
• Vantage Point for A&E and Consulting: 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 manage resources better

Cloud – provides high scalability & full disaster recovery

Pros:

• Highly scalable and acclaimed ERP software (provides increased ROI for clients)
• User-friendly and intuitive interface
• Enhanced financial data and regulatory compliance
• Allows better collaboration between business units (access to real-time information)
• Extensive automation of business processes available
• Integrated, built-in product development environment
• Supported by iOS, Windows, and Android
• Phone and online support available
• Fully integrated with Office

Cons:

• Doesn’t provide a free trial
• Timesheet corrections can be difficult
• Not the most user friendly as it has a steep learning curve

Pricing Plans:

The pricing is not available on the website. To get a detailed quote, you have to get in touch with one of their sales representatives.

10. Epicor.

Best for using the right data for increased momentum and profitablility.

Built for manufacturing processes and growth, Epicor helps businesses and manufacturers use data and automation to stay or increase profitability.

Key Features:

• Comprehensive CRM: Helps businesses manage leads, customers, contacts, and quotes.
• Planning & Scheduling: Anticipate and tackle changes in demand to minimize downtime and disruption.
• Human Capital Management: Effective and efficient management of the human capital, assign the right tasks to the right people and foster a culture of collaboration.
• Enterprise Content Management: Manage, access, retrieve and store documents and content any time on any device.
• Project Management: Helps you comprehensively plan and execute multi-level projects.
• Sales Management: It manages your sales process throughout the sales funnel. Helps provide accurate estimates, streamline the order-to-cash cycle, and fulfill order processing flawlessly.

Pros:

• In-built data analytics (provides actionable business intelligence)
• Both cloud and on-premise choices are available
• Enables a highly collaborative environment
• Highly customizable and scalable
• Gives you the independence to work from any location and any device
• Compatible with Linux, Windows, Android, and iOS
• Offers excellent customer support via phone, email, live chat, and tickets
• Modular architecture allows you to opt for only the modules and features you need
• IoT-enabled ERP software

Cons:

• Doesn’t offer a free trial
• Supports only English (no multi-language capability)
• Can be tough to pull reports

Pricing Plans:

The pricing starts from $175 per user per month. For a modular architecture, you can pay for the specific features or modules that you need. For a more customized and personalized plan, you can contact the sales representatives for a quote.

11. UKG

Best for managing the workforce of tomorrow – today.

UKG is an enterprise application and comprehensive suite of workforce management solutions, capable of handling end-to-end functions and processes for your entire business. It boasts of some impressive features, and more than 300,000 users globally.

Key Features:

• Payroll Processing: Streamlines the entire payroll process for added efficiency, speed, and ease.
• Send Automated Alerts: With this ERP system, you don’t need to send out alerts yourself. Simply create notifications and send them out at predetermined intervals.
• Compensation Planning Tool: Using their comprehensive compensation planning tool, create compensation cycles based on company or business unit requirements.
• Compensation Management: Such systems offer a comprehensive solution that eliminates the need for Excel and spreadsheets and makes the workflow self-sufficient.
• ACA Management: One of the few enterprise resource planning systems offering comprehensive ACA (Affordable Care Act) management.

Pros:

• In-built labor tracking and control to reduce errors (use touchscreens, biometric terminals, telephone time tracking, and much more)
• High-customizability
• Enhances employee collaboration
• Use of in-built data analytics for actionable insights
• automated payroll processing and tax filing
• Offers a wide range of third-party integrations, such as Ready, Dimensions, and Central from Workforce
• Phone, chat, online, and ticket-based customer support available
• Its mobile application is available
• Allows you to track ACA status of employees
• Secure handling and approval of pay rise procedures
• Cloud-based deployment (cuts down cost and increases efficiency)

Cons:

• Can be challenging to handle for a beginner
• Isn’t compatible with iOS
• Doesn’t offer a free trial
• Customer support could be improved
• On-premise deployment option isn’t available
• Slow load times and input lag can be an issue

Pricing Plans:

The price details aren’t available on their website. For a personalized quote, contact one of their sales representatives.

What is ERP Software?

Enterprise Resource Planning (ERP) software tools are business process management software that allows a business to organize the multiple processes involved and manage all of them on a single platform.

These highly powerful software systems allow a company to carry out all the ERP functions related to technology, services, finance, and human resources.

A typical enterprise resource planning software consists of numerous modules that cover the entire range of business functions. Each module is dedicated to a business function and takes care of the entire range of the specific function.

Here’s a list of all the modules included in a typical ERP software:

• Procurement: maximizes cost savings with the best procurement process possible
• Production: aids in planning and optimizing production capacity
• Distribution: deals with issues like warehouse storage, supply, and demand
• Accounting: covers comprehensive financial functions, along with adhering to regulatory requirements
• Human resources: devoted to HR
• Corporate performance and governance
• CRM software: maintenance of customer relationships
• Sales: takes care of activities like forecasting, scheduling, order processing and placing, and more

Such an ERP software solution has come a long way in facilitating the smooth flow of information. They help a business look at how the various processes like production, finance, human resources, and more can work together in perfect sync.

ERP software tools lets the companies look at the larger picture, and see the business as a single entity, not broken up into various units.

They can be classified based on a variety of factors.

However, broadly, they can be classified into the following types of ERP software:

• Industry-specific: These are specific to the industry that they are used in. Before deployment, a thorough understanding of the business, deliverables, and KPIs is needed for the best results.
• Small-business ERP: These ERP solutions are focused on SMBs. They are very cost-effective since they don’t contain features that aren’t likely to be used in a small business.
• Web-based enterprise resource planning manufa: Also known as cloud-based ERP, these platforms can be accessed through a web browser as well. They can be accessed anytime from anywhere since they only need a fast internet connection.

What Are the Benefits of ERP Software?

ERP software offers a lot of benefits. Some of these benefits when using these systems are:

• Reduction of long-term costs (despite the high cost of set-up, efficiency improves and saves overall cost)
• Improved accessibility to information
• Better collaboration between business units
• Generation of insightful reports and data analytics
• Facilitates making better, data-driven decisions
• Allows high-level customization
• Enhanced data security (protection to ensure smooth flow of data between various stakeholders)
• Ease of meeting regulatory business compliance
• Scalability
• The efficiency of supply chain management is improved
• Help the business make accurate and reliable forecasts
• Reduce operational costs in the long run

Understanding the benefits of ERP as they pertain to your business is key to deciding if such a system is needed.

What Should You Look for in an ERP System?

While choosing an ERP system, you need to consider a variety of factors apart from regular features.

You must also analyze:

• Whether the features align with your long-term goal
• How this particular ERP software can help you achieve your outcome
• Whether the ERP will add value to your business

Broadly speaking, here are some of the things to expect:

1. Lower Onboarding Time.

The onboarding process is a mandatory yet time-intensive activity and can take anywhere between weeks to months. The lead time can increase based on what features and applications you need to be integrated.

It’s essential to identify your specific needs so that you can spend time integrating only those features instead of wasting time with business applications you don’t need.

2. Pricing Plans Should Be Worth The Money.

Before making the final decision, you should look at the value the plans provide, including upfront and recurring costs. Take a look at your business operations and decide which back-office features are crucial.

For example, if you need specific features like manufacturing process, inventory control, purchase orders, a general ledger, and accounting software like Quickbooks, check your pricing plan to make sure it’s included. Most ERPs have buyer’s guides that you can read to view all of their advanced features.

Every business has different requirements, and the costliest plan isn’t always the best. Therefore, make sure to look at the best features you’re getting for a particular price point.

3. Your ERP Software System Shouldn’t Be Prone to Hazards.

Once you start using ERP systems and products, migrating to another platform is challenging. Therefore, before beginning to import your data, you should be sure that the one you choose is perfect for you.

Look out for any hazards that might occur in the future when using these systems and avoid the platforms that are prone to dangers and have bad reviews. Zeroing in on business management software with a reasonably low number of pitfalls is the key.

4. Cloud ERP and Ease of Use.

The user-friendliness of ERP software is one of the most critical factors that you need to consider.

To make the most out of your enterprise resource planning ERP system, you should be able to use it across the business by all units as a cloud ERP.

If the software’s user interface and tools are not user-friendly and easy to grasp, employees won’t be able to use it as efficiently, and training will be of limited use. Thus, selecting an intuitive cloud ERP system that can be accessed over the Internet and uses a SaaS model is better.

At the end of the day, an ERP system should aim at solving problems, simplifying processes, and providing access to information.

5. MRP vs. ERP.

MRP stands for material requirements planning. It mainly determines what materials manufacturing companies need to increase production output. Whereas MRP is more of a solo software solution, an ERP is integrated and can speak to multiple systems. Ensure you use an ERP that can easily integrate with your tech stack.

ERP Software FAQ

What is ERP software?

ERP software is a system that allows businesses to manage their resources, including cash flow, inventory, and employee data, in a single system. This can improve efficiency and help businesses make better decisions about where to allocate their resources.

What are the benefits of ERP software?

The benefits of ERP software include improved efficiency, better decision-making, and streamlined business processes. Additionally, ERP can enhance communication between departments and help businesses become more agile.

What are the typical features of ERP software?

The typical features of ERP software include financial management, inventory management, human resources management, and sales and order management. Additionally, many ERP systems include quality control, production planning, and project management modules.

Is ERP software challenging to learn and use?

Generally speaking, ERP software is not difficult to learn and use. However, different ERP systems may have different interfaces, so it is essential to research the system before purchasing it. Additionally, businesses should ensure that their employees are adequately trained to use the ERP software effectively.

How much does ERP software cost?

The cost of ERP software varies depending on the features and modules included. Generally speaking. However, ERP software is not cheap, and businesses should expect to pay several thousand dollars for a good system.

Are there any free ERP software options available?

A few free ERP software options are available, but they typically do not include all of the features and modules that businesses need. These free systems may not be as reliable or user-friendly as paid systems.

What is the best ERP software for my business?

The best ERP software for your business depends on your specific needs and budget. It is essential to research different systems and compare their features before deciding. Additionally, it is necessary to ensure that your chosen ERP system is compatible with your other business software and systems.

Wrap Up.

Choosing the right Enterprise Resource Planning System can put you in a bit of a dilemma. After all, every business is unique and has different requirements when it comes to its ERP software system.

Some of the various qualitative and quantitative parameters that should drive the purchase choice are:

• Market share
• Ease of ERP implementation and use
• Training period required
• Scalability and flexibility of ERP software
• Integrations offered and partnerships possible

Remember, it is a long-term investment, so choose carefully. It’s essential to align the features of your ERP system with your interdepartmental goals and business needs.

Which ERP vendors are you planning to use for your business? Let me know in the comments below.

Further Reading on AdamEnfroy.com: Check out my reviews of the best project management software and to collaborate with your team and the best marketing automation software to try this year.

Carbon accounting software is quickly becoming one of the most popular enterprise resource planning software on the market.

Knowing what options are best for your business is a good idea and should be part of your business continuity plan.