Top 10 Enterprise Resource Planning (ERP) Software To Consider in 2020
A few years back, Enterprise Resource Planning (ERP) software was mostly used & affordable for large business organizations.
But over time with the needfulness of getting everything automated & digitalized, even the medium and small business organizations are implementing ERP software to utilize the enormous benefits of all those advanced ERP systems nowadays.
In this blog, we’ll cover some most suitable enterprise resource planning software that comes with all the essential features that you need to develop your business management system.
Before diving the into the lists of ERP softwares let’s find the answers to
Why You Need ERP Software?
An ERP system is known to be an asset to many big organizations. It mainly helps to run your business smoothly by organizing valuable information, automating the entire business process, and generating several essential reports.
Using the right ERP solution, you easily run your day to day business operations as well as do long term planning more efficiently. Most importantly, it improves your business functions and contributes the business development.
Also, you can see the list below to understand some benefits of having ERP software.
- Save Money & Time
- Improve Collaboration
- Increase Productivity
- Customers Service
- Simplify Reporting and Planning
- Data Security and Quality
- Reduct Working Pressure
What Should An Ideal Enterprise Resource Planning Software Have?
As we have discussed before, a standard ERP system is created by integrating other business management software. So, the system always comes with dozens of advanced functions so that you can easily manage your business.
However, you may need all the functions at the same time. But most of the cases you will always need some common functionalities in it.
Let’s consider the most suitable features that you should check before choosing your ERP solution.
Human Resource Management
Human Resource Management (HRM) can manage all of your HRM functions, such as recruitment, selection, hiring, training, and development for employees.
Customer Relationship Management
Customer Relationship Relationship (CRM) build customer relationships with business organizations. While taking care of the entire process, the CRM technology nurtures all the customer’s data and try to get more conversion.
Account and financial systems provide an efficient account module to maintain business accounts and financial reports. With this advanced functionality, you can simplify the entire organization accounting system such as costing, profit & loss, balance sheet, vat, tax, etc.
Production Management mainly focusing on product planning, organizing, directing, and execution of production activities.
Here the six ‘M’ of the product management.
Inventory management software is a software system for tracking inventory levels, orders, sales, and deliveries.Wikipedia
In other words, it refers to a systematic process used to track the company’s goods.
In an organization we found four types of inventory:
- Raw materials
- Incomplete product
- In transit inventory
- Inventory of cycles
Supply Chain Management
Supply Chain Management is a complete process that tracks the production information of a product from the raw material. It can be called a product development flow chart. Here are the five steps in supply chain management.
Top 10 Enterprise Resource Planning Software You Should Give a Check
Here, we will make a list of Sass and Open-Source (CMS) ERP systems for you at the same time. You can choose any of the below software according to your business needs.
1. JD Edwards EnterpriseOne
JD Edwards EnterpriseOne is a powerful ERP software developed by the Oracle corporation. This business intelligence tool has several automated features for developing your business accounts management, order management, CRM, production, supply chain, project management, asset lifecycle management, planning, logistics, and reporting.
It’s a cloud-based software and easily compatible with any different operating system as well as suitable for any device. This advanced ERP solution is also ideal for medium, and large-sized businesses.
- Easy cost management
- Joint ventures operation allowing
- Simple task manager
- Problem-free reporting and analysis
- Better human capital management
- Business network monitoring
- Easy enterprise data management
2. WP ERP
WP ERP is a WordPress based enterprise resource planning (ERP) software that is faster, easier, and flexible. Also, It allows you to boost your entire business management with less effort.
Using this smart tool, you efficiently simplify your business managing process like HRM, CRM, Project Management, etc.
- Easy HRM solution
- Better CRM system
- Organized Accounting & Finance
- Projects controlling with Project Manager
- WooCommerce Integration
- Multiple payment systems
- Hassle-free report managements
- 24/7 friendly customer support
3. SAP Business One
If you’re running a business organization and need a smart ERP solution, you have to look at the SAP Business One. In addition, this advanced business solution is specially designed for different types of small companies with affordable prices so that they can easily integrate into their business.
- Sales tracking options
- Efficient customer management
- Simple inventory process
- Improve your business intelligence
- Streamline purchasing process
- Optimize your supply-chain relationships
4. Microsoft Dynamics ERP
Microsoft Dynamics ERP is another business management system that is developed for mid to large organizations. This application is highly optimized for business development and owned by Microsoft.
With this amazing tool, you able to works so many important business aspects at a same time like accounts, human resource, reporting, customer relationship, using the same interface.
- Efficient Finances & Account functionalities
- Easy stock management options
- Better HRM solution
- Simplify your Manufacturing process
- Automate your supply chain management
5. Sage Business Cloud X3
Every enterprise or business organizations need a digital system to operate business functions. With Sage Business Cloud X3, you get next-generation business management solutions effortlessly.
Sage Business Cloud X3 offers the fastest, easiest, and most flexible ERP system to modernize your entire business system. Plus, you get the best financial, production, and supply chain management system to control your organization.
- Easy financial reporting managements
- Better customer service
- Simple purchasing process
- Focus on quality control
- Control multiple projects same time
- Simple integrated sales system
6. Infor SyteLine
Infor SyteLine is a notable ERP system that mainly designed for small and mid-sized businesses. Therefore, use amazing tools can easily take care of the human capital, wholesale distributors, financial, supply, and enterprise performance management of your business.
Another great advantage of this software that it is a cloud-based ERP solution that securely hosted in Amazon Web Services (AWS). That’s why you don’t need to worry about hosting the management of this software.
- Personalized home pages
- Intuitive role-based user interface
- Unlimited financial calendar
- Full visibility of indirect expenditure
- Strengthen supplier relationships
- Powered by information science
IQMS is another powerful ERP software that will help to automate your entire production system. That means if your business only based on product manufacturing then you should go with IQMS.
- Smart accounting management system
- Organized order management
- Better customer relationship management
- Properly maintain your inventory and store management
- eCommerce compatibility
- Help to improve business planning
8. Tally.ERP 9
Tally.ERP 9 is one of the most popular ERP systems chosen by business organizations around the world. This easy to use software comes with some smart business modules so that you can control over your organization.
In addition, it saves tons of important working times as well as help to increase your business development. With Tally.ERP 9, you also manage multiple companies at the same time and easily add features such as multi-currency, order process, multiple go-downs, cost, etc.
- Focus on Cash flow management
- Simplify your inventory management
- Better invoicing and accounting
- Easy reports generation
- Digital payroll management
Bitrix24 is a popular ERP solution provider that allows you to control your software by offering a self-hosting service. Like the other ERP system, it also comes with several integrated business management systems such as CRM, HRM, etc.
- Batter HR system
- Customized CRM
- Self-hosting service
- Solid customer support
- Help your marketing automation
- Easy tasks and projects manager
10. Epicor ERP
EPICOR is a complete ERP system that can help to do the proper business process effortlessly. Using this amazing software, you also improve the business system and reduce work pressure as well as increase sales margins.
Besides, it can easily be optimized with different sized organizations. So take a look over the main features of EPICOR ERP.
- Automate your HR & Finance management
- Improve your business intelligence & analytics
- Organized supply chain management
- Efficient manufacturing operations
- Better product management
- Focus on risk and compliance
Verdict: Which One Should You Pick up?
In the meantime, you’ve got some ideas on the importance of using an ERP system in business organizations. Let’s find out which ERP system you should consider for your ultimate business management.
In our case study, we found that JD Edwards Enterprise and Sage Business Cloud X3 are highly advanced ERP system that comes with a higher price including the modern business management functionalities like Account, Human Resources, CRM, etc. These ERP systems are best suited for medium and large organizations, not the small ones.
If you’re looking for an ERP solution that has the ability to automate entire business management like Accounts, HRM, Customer Resource Management, and Project Manager, you can consider the WP ERP. Plus, it is the cheapest ERP system compatible with any size of business organizations.
However, software selection always depends on your needs. Before choosing any of these ERP systems, you have to check the must-have functions that you need to automate your business.
In this competitive business world, Enterprise Resource Planning software will always create a positive impact on your business. Nowadays, it’s essential to have an ERP system in any type of organization.
In this final guide, we’ve tried to show some of the suitable ERP systems that will automate your business.
Now it’s time to ask a simple question which one you like most and will use in your business. Just comment below with the answer and also share your experience with the use of other ERP solutions.