Greatest ERP software program
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In the past, enterprise resource planning (ERP) software has been used by large corporations and multinational organizations to manage all of their operations from a single platform.
Now these solutions are more accessible than ever. In addition to companies, many SMEs have started to use these tools in recent years.
ERP software essentially combines all of your business tools into one central console. It includes components like accounting, HR, CRM, supply chain management, and more.
By consolidating your business tools into a single ERP solution, management is much easier. In addition, the ERP software offers you a lot of added value from the perspective of the overall picture that you would normally not see with stand-alone software.
Which ERP software is the best? Find out below.
The top 5 options for ERP software
How to choose the best ERP software for you
To find the right ERP software for your business, you need to know what to look for when shopping. Not all ERP systems are created equally, and there is not really a "one size fits all" solution.
Use these features and considerations to narrow down potential options rather than blindly choosing a tool.
Business processes and modules
As mentioned earlier, ERP software encompasses different types of business processes. These are usually delivered in the form of modules when you customize an ERP solution.
Some of you might only need a handful of these processes while other companies look for a dozen. It really depends on the size of your company, the tools you have in place, and future resource planning goals.
Examples of modules and processes to look out for include HRMs, financial management tools, CRM, SCM, inventory management, purchasing and supplier management, sales and marketing tools, and many more.
There are even industry-specific processes for things like manufacturing or engineering. This includes important functions for product planning, production planning, parts lists, production planning, etc.
Make sure the ERP software you are evaluating is able to meet your needs with modules for these types of functions.
Reporting, analysis and dashboards
The best ERP software on the market right now has advanced reporting capabilities. These go beyond basic spreadsheets and PDF downloads. Look for a solution that has real-time data and intelligent filters.
Some tools may even have agile reports and ad hoc reports so you can quickly adapt to changing needs without interruption.
You should be able to manage these complex reports and analyzes from a simple dashboard. If you can't figure out the dashboards, you will never get the most out of those reports (which makes them unusable).
Dashboards should also display KPIs and allow you to analyze various data with just a few clicks. For example, you may want to compare qualitative and quantitative data based on departments or users in your organization.
Your ERP software must integrate seamlessly with your existing tools and software.
From simple file transfers to full integrations, it is critical that everyone works together. For example, you should be able to synchronize your existing CRM with your new ERP software. Or you would like to link an ERP accounting module with HRMS software that you are already using.
ERPs that offer flexible integrations can extend the functionality of your existing tools or completely replace them after a smooth file migration.
Customization is critical in evaluating ERP software. Otherwise, you won't get the most benefit. here is the reason.
Each department has different business processes. These could potentially have conflicting priorities and goals. For example, marketing teams focus on spending while accounting teams focus on saving money. Sales teams prioritize a monthly quota, and production departments prioritize daily production. It is impossible to configure these different workflows into an all-in-one solution.
Therefore, your ERP software should have configurable workflows and custom dashboards for each department. This allows these decision makers to define specific KPIs and goals based on custom parameters.
Setup and deployment
It's no secret that ERP software can be complex. Unlike other business tools, it is not actually a "sign up today and deploy in seconds" tool. This is mainly due to the custom nature and the various modules required for it to run smoothly.
Even so, some ERP software providers are definitely easier to set up and deploy than others. If you don't want to install anything locally, look for a cloud-based ERP solution. You still need a custom solution, but it's easier overall.
Various options are available between cloud-based SaaS solutions and local provision.
Training and support
Here, too, ERP software is not always easy. You need to find a provider who can give you the resources you need to get started right away.
In most cases they will need proper installation by someone with technical expertise. If your company doesn't have a dedicated IT team, check your SLA.
In many cases the installation can be charged completely separately from the ERP license or subscription. Cloud-based ERPs are definitely easier to set up (as mentioned earlier) but may still require some training.
What if you have a question or need help? Will your software provider be there to help you?
These are the types of questions you need to ask yourself as you evaluate different options.
The different types of ERP software
Before we dive into the ERP software reviews, let me briefly outline the different types of ERP software available in the market today. This ensures clarity when shopping.
General ERP software
Generalistic ERPs are flexible enough to meet the needs of different industries. They have robust customization capabilities, easy integrations, and processes that suit a wide variety of needs.
The vast majority of ERP software is called general purpose ERP. This gives software providers the opportunity to address as many different organizations and industries as possible.
Vertical-specific ERP software
As the name suggests, vertical ERPs are geared towards specific industries. Unlike a generalist solution, this type of software is not aimed at the masses.
These types of ERP solutions are popular in niches like manufacturing, construction, or retail. A vertically specific ERP isn't nearly as flexible as a general purpose tool, but it does a great job for the specialized industry.
Open source ERP software
Open source ERP software makes up only a small part of the entire ERP market. However, it is important to know that they exist.
An open source ERP is ideal for tech teams who want to develop custom apps and integrate them into an ERP solution. Because ERPs can handle such highly customized functions and processes, this type of software is the preferred choice for developers.
Small business ERP software
As mentioned earlier, there was a time when only large companies used ERP software. However, cloud delivery has made ERP software significantly more accessible to small businesses.
Because some ERPs come with custom modules (as opposed to a fully integrated solution), small businesses can only choose two or three modules and leave out the others. For example, you could get ERP software with only accounting and HRM functions. You can then add a module for CRM or inventory.
Because of this flexibility, ERPs for small businesses are also referred to as "lightweight ERPs".
# 1 – Infor Review – The Most Versatile ERP Software
Infor is a cloud-based ERP software with solutions for SMEs and companies. Depending on the industry and business requirements, you can choose from various ERP products.
With more than 30 years of experience in the field, Infor's robust and flexible technology ranks high on my list.
The ERP solutions offered by Infor are a popular choice for wholesale distributors, manufacturing companies, and various service industries. Some of the notable highlights of the software are:
- Ability to personalize home pages and dashboards
- Intuitive role-based user interfaces
- Unlimited financial calendars, ledgers, basic reports and dimension strings
- Embedded analyzes directly in the workflows of different users
- Production planning and schedule management
- Optimized purchasing with advanced order controls
- Ability to ensure maximum margins with integrated pricing modules
While Infor is definitely known for its cloud solutions, they offer single-instance and local deployment options for some of their software.
Infor also offers a wide range of specific software for things like HCM, CRM, PLM, SCM, and more. So if you only have a single need, you can explore these choices as well.
# 2 – AccountMate Review – The Best Vertical Specific Solutions
AccountMate is known as "the world's most customizable accounting system". It is designed to give growing companies a competitive advantage with unique ERP software based on specific industries.
Over 125,000 companies worldwide rely on the software. In addition to the software, AccountMate offers additional services with which you can get the most out of your ERP tools.
AccountMate's vertical suite of solutions is extensive, to say the least. You have more than 30 vertical specific category options available. Your development partners help companies to obtain industry-specific functions in addition to the basic financial software.
Some of these top categories include:
- Budgeting and forecasting
- Business analysis
- Business intelligence
- CRM applications
- Document management
- Food processing
- Human resources
- Invoice automation
- Order costing
- Route management
- Sales analysis
- Warehouse management
The list goes on and on. As you can see, these vertical specific offerings are extremely versatile. Ultimately, AccountMate offers you a comprehensive front office and back office solution.
Companies in industries such as manufacturing, wholesale, utilities, government, solution providers, e-commerce, and business services rely on AccountMate for ERP.
For those of you looking for a vertical solution with an emphasis on accounting and finance, AccountMate is the one.
# 3 – Epicor Review – Best ERP Software for Manufacturing
Epicor is another industry leader in ERP software. They provide cloud and on-premises solutions for businesses in areas such as manufacturing, retail, automotive, wood and construction, and sales.
With this in mind, the ERP software offered by Epicor for manufacturing is the outstanding feature.
Trusted by a wide range of manufacturers who make products such as industrial machinery, sawn timber and wood, rubber and plastics, high-tech electronics, aerospace and defense products, metal products, medical devices, furniture and more.
Here are some of the key benefits you can get with Epicor ERP software:
- Ability to track, measure and monitor the entire operation from raw material to finished product
- Improve efficiency with real-time visibility into plant and business operations
- Optimize your processes to reduce costs and increase profits
- Adaptation to new strategies, changing customer needs and new manufacturing methods
- Implement lean manufacturing methods to reduce waste
- Make smarter decisions and prioritize customer satisfaction
Overall, the software is designed for medium-sized and large companies in the manufacturing and sales area. If you fall into these categories, I recommend Epicor for ERP.
# 4 – IFS Review – The Best Agile ERP Software
IFS is somewhat unique compared to other ERP solutions on the market today. The software is not as complicated and rigid as other tools you will come across.
Instead, IFS gives you the ability to adapt in real time as market landscapes change and new technologies become available. This approach helps to maximize your company's agility.
IFS has pre-configured ERP solutions for areas such as supply chain management, human capital management, project management, finance, the service industry and manufacturing.
Within these categories, the notable highlights of the ERP software include:
- Risk and opportunity management
- Life cycle journey for digital assets
- Contract management, change order management and payment applications
- Real-time planning and planning optimization
- Sales forecast and demand planning
- Multisite and Multi-Entity offer transparency and planning of the network
- CRM and SRM
- Financial accounting, management accounting, project accounting and strategic accounting
All of these tools and features are designed to keep your business agile as the market changes. With IFS for enterprise resource planning, you can gain a competitive advantage in real time and make strategic decisions in real time.
# 5 – Deltek Review – The Best ERP Software for Small Businesses
As mentioned earlier, ERP software is no longer reserved for global companies. There are many great options for small businesses looking to take advantage of these solutions.
Deltek is one of those smaller business options and my top pick in this category.
Overall, Deltek is a great option for project-based companies looking for an ERP solution. They have a wide range of products and modules in categories such as:
- Information management and collaboration
- business development
- Project and portfolio management
- Human capital management
They even offer niche-specific solutions such as Costpoint for government contractors or Project Lifecycle Management for small architecture and engineering firms. These examples show the versatility of Deltek.
The cloud-based deployment also makes implementation easier for smaller companies.
There are dozens of vendors offering ERP software. However, after extensive research and testing, I can only recommend the five options described above.
Which is the best? It depends on your situation.
Make sure to follow the method described earlier in this guide to narrow down your shopping options. This makes your life a lot easier and ensures that you are making the right decision for your business.