Best ERP Systems
Enterprise resource planning (ERP) systems manage, control, and organize daily business operations and workflows. Employees in production, manufacturing, accounting, finance, HR, and supply chain use the best ERP systems to support process automation, control input data, and optimize business operations to save resources. Some examples of ERP systems are Oracle Netsuite and SAP ERP.
ERP implementation helps with account payables (AP) automation, advanced reporting, and management for financial companies. In the healthcare sector, ERP enhances patient care by automating records and storing accurate data for each patient. Human resources uses ERP for payroll processing, time tracking, and employee benefits. Retail industries might use ERP to automate invoices, run customer discounts, and increase sales productivity.
The organized structure of ERP software combines data from different departments and breaks down silos to help every team access necessary data and metrics securely. Real-time reporting and analytical dashboards keep you updated on each department's performance and productivity.
Daily workflows, customer relationship management processes, inventory management and procurement, demand forecasting, and strategic decision-making join under ERPs to keep you up-to-date about team agendas and notify you of task progress. This way, you better understand which teams need resources immediately and which can wait.
ERP software covers a wide range of functionalities. Still, if you find gaps, you can integrate it with other tools like CRM software, professional services automation software, or project-based ERP systems to achieve a magnified view of product manufacturing and distribution.
ERP systems provide a variety of modules, and while each business has unique requirements, most ERP systems offer the following:
Featured ERP Systems At A Glance
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As the world's #1 AI Cloud ERP solution for more than 25 years, NetSuite has helped businesses gain the visibility, control, and agility to build and grow a successful business. First focused on fin
NetSuite is an ERP solution that provides inventory management, financial statement reporting, and customizable transaction flows. Users like NetSuite's robust integration capabilities, its customizable financial reporting, and the ease of planning inventory and orders based on demand and sales history. Users experienced issues with NetSuite's support, found the manufacturing modules needing improvement, and reported difficulties in navigating the system and understanding its settings.
825,317 Twitter followers
Grow your business with Microsoft Dynamics 365 Business Central—the first comprehensive business management solution that uses Microsoft Copilot to boost productivity, spark creativity, and improve bu
13,088,482 Twitter followers
Acumatica Cloud ERP offers best-in-class functionality for small and mid-sized businesses to thrive in the digital economy. Its workflows span the full suite of business management applications, and i
28,334 Twitter followers
SAP Cloud ERP (formerly SAP S/4HANA Cloud) is a modular ERP designed for every business need, powered by AI and analytics. SAP Cloud ERP enables users to run mission-critical operations in real time f
SAP S/4HANA Cloud is a cloud-based ERP system that supports real-time financial reporting and transaction monitoring, and assists with internal control work and compliance-related processes. Users frequently mention the seamless integration of various business processes, real-time access to comprehensive data, and the system's ability to improve the accuracy of financial records and support better audit follow-up. Users mentioned the system's high level of integration can make it less intuitive, requiring extensive training to understand how each module functions and how their specific inputs feed into the overall financial information.
297,265 Twitter followers
Sage Intacct is the flexible and scalable financial platform that delivers deep accounting capabilities to thousands of businesses across the world. Sage Intacct delivers an array of core accountin
Sage Intacct is a software used for accounting, offering features such as automated workflows, approvals, consolidations, and report building. Reviewers frequently mention the software's user-friendly interface, its ability to improve efficiency and reduce manual errors, and its integration with other platforms. Users mentioned that customization and report building can be complex for new users, certain advanced features can increase costs, and some processes are overly complicated.
Odoo is the #1 open source integrated business apps suite. Main apps include CRM, Accounting, Project Management, Inventory, Manufacturing, Human Resources, Marketing, Website Builder, and eCommerce,
55,008 Twitter followers
Leverage world-class ERP software. Sharpen your competitive edge and drive growth with enterprise resource planning from SAP. With more than 40 years of experience and nearly 50,000 customers, our m
297,265 Twitter followers
TallyPrime is a comprehensive business management software solution designed to assist organizations in efficiently managing their invoicing, accounting, inventory, banking, cash and credit management
TallyPrime is an accounting software that handles tasks like GST calculations, invoicing, and financial reporting, and also offers features like inventory tracking and GST compliance. Users like TallyPrime's simplicity, its ability to save time in day-to-day accounting, reduce errors, provide quick access to accurate reports, and its interlinked modules that allow changes at one place to be reflected everywhere. Reviewers mentioned that TallyPrime has a challenging learning curve for new users, limited customization of reports and invoices, issues with integration with third-party apps and cloud-based access, and problems with data crashes during upgrades.
14,717 Twitter followers
Deltek Costpoint is an ERP and accounting solution for Government Contractors with 84% of the top 25 GovCons trusting Costpoint for project accounting, contracts management, real-time analytics and re
6,568 Twitter followers
SAP Business ByDesign (ByD) is a comprehensive cloud enterprise resource planning software (Cloud ERP) that is sold and operated as software as a service (SaaS) by SAP SE. It is designed for small to
297,265 Twitter followers
ePROMIS is a leading global enterprise ERP, HCM, CRM and other business management software solution provider to multiple verticals & industries. ePROMIS ERP - The Next-Gen customizable ERP solut
1,118 Twitter followers
Stok.ly is an OMS-led Cloud ERP built for retailers, wholesalers and light manufacturers who have outgrown disconnected apps, spreadsheets and operational workarounds. If your business runs both B2C a
Fulcrum replaces ERP, MRP, QMS, and MES with a Manufacturing Software-as-a-Service (SaaS) platform, allowing small and mid-sized manufacturers to improve efficiency through workflow optimization and a
264 Twitter followers
XoroERP is a comprehensive Enterprise Resource Planning (ERP) solution designed to streamline and integrate all facets of business operations into a unified platform. It is tailored to meet the demand
32 Twitter followers
Enhanced visibility and control to help power your business. QuickBooks Enterprise helps improve decision-making, efficiency, and productivity with a clear line of sight across your business. Ma
QuickBooks Desktop Enterprise is an accounting software designed for growing businesses, offering features like customizable reporting, advanced inventory tracking, and user permissions. Reviewers like the software's scalability, robust feature set, and its ability to handle large amounts of data, with users appreciating the detailed and customizable reporting features, as well as the software's integration capabilities with other systems. Reviewers noted that QuickBooks Desktop Enterprise can be complex and overwhelming for new users, requires more setup and sometimes IT support, and comes at a higher price point compared to other QuickBooks versions.
80,545 Twitter followers
Learn More About ERP Systems
What are Enterprise Resource Planning (ERP) Systems?
Enterprise resource planning (ERP) evolved from materials requirements planning (MRP) software, which was created in the 1960s for large companies that needed to manage complex manufacturing operations. MRP was used mainly to identify, allocate, and track resources such as raw materials, parts, ingredients, and labor. As technology became more accessible, vendors added features for the back office (accounting and HR) and front office (sales and CRM). While initially, only enterprises could afford to invest in ERP, it is now more affordable and widely used by small and medium-sized businesses.
ERP evolved through organic development or mergers and acquisitions. The result was often a mix of multiple products that were more or less integrated and sold as a package or separately.
- Organic development strategies were adopted by vendors who focused exclusively on creating and improving their offering. Some vendors focused on one product only, while others created multiple solutions and sometimes different editions of the same product for different purposes. For instance, an ERP solution can be delivered as a light version for small businesses and as an enterprise edition for large companies.
- Acquisitions are the most common strategy vendors use to expand into new markets and deliver new features. The primary challenge with acquiring software is that it is difficult to integrate all products into a single offering. While some vendors combined multiple products into one, most ERP solutions acquired are still sold as standalone systems.
- Mergers are rare in the ERP market, and they usually happen when two vendors join forces to complement each other’s offering. This can lead to a sophisticated package of multiple systems with overlapping functionality.
- Partnerships allow vendors to offer additional functionality without investing in developing it. When vendors partner, they provide standard integration between their products, which makes it easier for companies to use them together.
What does ERP stand for?
ERP stands for enterprise resource planning, which means it’s a tool that defines, schedules, and tracks current tasks and critical processes. It supports companies’ automation, manufacturing, production, supply chain, and distribution processes.
Moreover, an ERP system integrates all the functional units of your organization into one. The software can be personalized based on departmental key performance indicators (KPIs) as well.
As discussed above, ERP systems typically include modules for finance, human resources, marketing and sales, accounting and bookkeeping, logistics and supply chain, and customer service. Its main goal is perfecting processes, improving efficiency, and helping maintain a repository of apps and workflows so teams can view progress, update goals, and keep productivity up.
What types of ERP systems exist?
ERP systems differ based on the source code of the system and its availability to customers and partners.
- Software development: Depending on who develops and manages the system, some ERP vendors have full control of the product and only allow partners to create apps or extensions. Other ERP providers rely on resellers to add entire modules and change the source code.
- General purpose ERP: These ERP systems are specific to a particular industry. They can be customized to suit the needs and use cases of various industries.
- Industry-specific ERP: Also known as vertical ERP, these systems provide functionality to a limited number of industries. The vendors specialize because generic solutions do not apply to niche industries with specific challenges.
- Small and mid-size business (SMB) ERP: Designed for smaller teams with renewable resources, these ERP systems offer basic workflow automation at an affordable price.
- Cloud ERP: These solutions are hosted on the cloud so you can expand your business infrastructure to support growing volumes of data at a cost-effective price plan. It provides data storage, scalability, and reduced scope of vulnerabilities.
- On-premises ERP: Traditional on-premise systems are installed locally on a business server. They’re set up to store, modify, and retrieve data for internal teams and their project input. Due to package deployment, this may incur higher upfront installation costs.
- Open source ERP: Users can download these free ERP services from the internet or smartphone marketplaces like PlayStore or App Store. These solutions offer basic features that access and modify business workflows.
- ERP for specific functions: These solutions trigger functionalities for departments like finance, human resources, or supply chain management. They are modular and can be integrated into broader ERP systems for businesses.
- Mobile ERP: Mobile ERP solutions enable geolocation tracking, data access, and management via mobiles and other gadgets. Leading ERP service vendors offer a mobile-compatible version of their desktop ERP software.
Which ERP platform is best for managing app development projects?
For app development projects requiring an ERP platform that can handle your business goals, like resource planning, team collaboration, project tracking, and more, G2 offers a list of options. Some options that could meet your project goals are:
- NetSuite: ideal for mid-to-large enterprises, it offers comprehensive financial management, multi-language and currency support, and scalable services.
- SAP Business One: offers tools for project planning, resource management, and budgeting. Its integration with financial and customer relationship management modules ensures cohesive project tracking and management
- Microsoft Dynamics 365 Business Central: combines project management and financial management functionalities, providing tools for project planning, resource allocation, and cost tracking, essential for app development projects.
ERP systems examples across industries
Different ERP systems have different working mechanisms. Examples of some ERP systems deployed across various industries for process optimization and workflow management are below.
- ERP for manufacturing: Manufacturing professionals choose their ERP systems based on the production types of the finished products and the way they’re made. Manufacturers can use discrete ERP software to learn about spare parts, raise raw material requests, and stay in contact with suppliers for any other needs. It helps maintain bills of materials (BOM), batch processing of orders, and details of stock-keeping units (SKUs).
- Engineering-to-order ERP software: Engineering-to-order (ETO) manufacturers customize their products to create personalized work for a limited number of customers or sometimes even for individual customers. Standard products (like heavy equipment and fixed assets) can be sold without modifications, but you may need to customize them based on the customer's demand. These kinds of tools use proposal and project management and quote-to-order (QTO) to deliver elaborate projects and monitor production.
- Distribution ERP software: The core of the distribution business is purchasing products, storage, and delivery from the supplier to the customers. While most ERP systems offer purchasing, inventory, and shipping features, that doesn’t necessarily make them a relevant choice for distribution companies. With distribution ERP systems, companies can buy products from manufacturers and resell them to other companies or consumers. These dedicated tools provide basic warehouse management, route planning, yard and dock management, and freight management.
- Professional services automation software: Also known as ERP for professional services or PSA, this software is designed to address the specific needs of industries like consulting, design and architecture, IT services, legal and financial services, or training and development. These companies all rely extensively on specific knowledge and a professionalized workforce. PSAs help them manage project portfolios and front and back office work for sales, marketing, billing, and accounting.
- Construction ERP software: Construction software handles projects for residential or industrial buildings and infrastructure. Typical construction software doesn’t always include back-office functions like accounting, so vendors created ERP systems for this industry. ERP for construction delivers all the modules needed to manage operations.
- Education ERP software: Education ERP software helps manage student admissions, student journeys, and academic profiles. It is mostly used by educational institutions for K-12 or colleges and universities. The education ERP integrates with accounting software to support finances like school fee payments, course payments, and exam registration fee payments.
- ERP for public sector undertaking (PSUs): Government or public sector software focuses on managing the services provided to citizens and on maintaining public infrastructure such as roads, buildings, airports, and so on. Since most point solutions for government agencies only cover some requirements, ERP vendors created specific products for this industry.
- ERP for healthcare operations: Healthcare software can cover multiple requirements, like medical scheduling and billing, practice management, and electronic health records (EHR). ERP systems also cover the needs of specialists, such as optometrists, physical therapists, or chiropractors. All these products are usually sold separately and require integration with accounting or sales software, which is why vendors adapted their products for healthcare.
Benefits of ERP systems
ERP systems help perfect business functions across all departments. Managers and executives use it to monitor essential projects in real-time, and all employees appreciate how easy it is to access important data. More advantages are detailed here.
- Single source of truth: ERP systems store all company information in one place to prevent duplication and inconsistency in data quality. A single data repository also ensures that users' changes are reflected in the database, and everyone in the company can find the most up-to-date information.
- Visibility: Since all ERP users share the same system, they can access any data point that will support their productivity. Customer-facing employees can also retrieve details about orders, transactions, or inventory availability. Finally, accountants can track all data on costs and profitability for each team, business unit, and location.
- Automation and productivity: ERP systems can replace multiple types of software, add-ons, point solutions, spreadsheets, or office tools used by company departments. This allows workers to spend less time switching between systems and focus more on operations. ERP also allows companies to define and implement business-wide processes, which increases productivity and helps address accountability issues.
- Cost savings and resource optimization: By unifying key aspects of business, ERP software becomes a smart way to cut costs while retaining your ROI. The solution works with any operating system and can be adapted to any user interface.
- Regulatory compliance and risk management: ERP systems comply with industry rules and regulations, local and federal laws, legal policies, and tax and compliance rules for any industry with a specific code of conduct.
- Increased customer satisfaction: ERP systems provide a bird’s-eye view into your business goals, processes, tasks, and deadlines, which helps you stay aware of the smallest details and work toward raising your customer satisfaction score.
Features of ERP systems
The following core features of ERP systems can help users manage customer relationships, plan operations, and monitor costs and profitability.
- Accounting: ERP systems support all accounting processes, from creating a general ledger (GL) to automating payroll and making invoices. It also helps process payments, generate financial statements, and conduct financial close. Some ERP systems include advanced features such as multicurrency, foreign exchange, multi-entity management for global companies, project accounting for project-oriented firms, and fixed asset depreciation.
- Front office management: While every ERP system has some sales and marketing features, the level of support for front office functionality varies significantly from one product to another. Some vendors develop modules for these features, while others prefer to integrate their ERP systems with CRM software and marketing automation software to ease the workload of sales and revenue teams.
- Back office management: ERP also supervises payroll platforms, human resources (HR), maintenance, and regulatory compliance. These modules are delivered in multiple ways, such as standard functionality, add-ons, or integration. For instance, ERP systems include a module for workforce management and integration with recruitment software. Similarly, buyers must integrate ERP with computerized maintenance management systems (CMMS) or enterprise asset management (EAM) software to automate maintenance operations.
- Logistics and supply chain support: These features help companies manage their raw materials, components, and finished goods. Manufacturers need to buy, store, and optimize the use of raw materials such as fabric for fashion or parts for equipment manufacturing. ERP systems help forecast demand and find the best price-to-quality ratio components. It also tracks shipping to customers, from suppliers, and between multiple warehouses or production facilities.
- Production: Production management functionality is the core of any ERP system for manufacturing companies. This module covers bills of materials (BOM), material resource planning (MRP), master production schedules (MPS), work in process (WIP), and quality control. Production managers use these features to monitor all stages of the manufacturing cycle, identify defective products through inspections, and track the shop floor equipment and personnel's status.
- Reporting and analytics: ERP reporting and analytics provide statistics on all activities managed using the system. When companies use separate human resource management software (HRMS), it needs to be pushed to ERP to transfer data between them. For instance, to estimate the demand for a job, recruiters need multiple data types from different systems, such as candidate history from HRMS, applications from job portals, and documents from document management systems.
- Integration: Even though all departments can use ERP, buyers prefer a comprehensive, standalone CRM system over a light module as a part of an ERP system. Therefore, integrating ERP and other software is essential for data consistency free of duplicated data entries.
- Platform: The success of an ERP system depends on the technology used to create, store, and manage it. A service-oriented architecture offers more flexibility and allows buyers to customize the software. Similarly, the database that stores all business information should keep data secure, allow users to back up the data, and facilitate integration with other data sources.
Cost of ERP systems
Choosing the right, affordable plan helps you maintain your return on investment (ROI). Most ERP systems follow a tiered package structure for small- and mid-size enterprise-level services. The tiered structure offers different functionalities at varying price points.
The cost of an ERP system depends on the software providers’ license and subscription plan. Vendors offer per-user licensing, flat-rate pricing, and subscription models. You can inquire about custom quotes through each provider’s website.
To negotiate the right cost, look out for the business infrastructure, number of users, customization, user support, and user adoption processes within your organization.
What's the best ERP software for service-based business?
When choosing, consider your specific requirements around project management, resource scheduling, time tracking, billing, and reporting. Explore some of these popular options:
- Sage Intacct - Provides deep accounting capabilities with applications such as general ledger, accounts payable, receivable, cash management, and order management. It supports a variety of industries.
- SAP S/4HANA Cloud - Offers modular cloud ERP software powered by AI and analytics that supports real-time operations from any location.
- Acumatica - Cloud ERP is designed for small and mid-sized businesses with open APIs for rapid integrations and resources-based licensing rather than user-based.
ERP systems trends
Some new age trends are trending in the ERP industry.:
- Industry 4.0: Digital transformation in manufacturing can be achieved using intelligent technology such as the internet of things (IoT), virtual reality, and augmented reality. While ERP doesn’t manage these technologies, the system must exchange data with hardware (sensors and fixed assets) and software (IoT management and digital twins).
- Artificial intelligence (AI): AI can analyze large amounts of complex data, identify trends, and suggest opportunities to improve operations. Robotic processing automation (RPA) creates bots that perform basic tasks quickly and efficiently and some ERP vendors use voice recognition, which simulates a conversation between computers and human users.
- Microservices: Vendors use microservice software architecture more often for its flexible solutions. Unlike monolithic ERP systems, microservices allow buyers to implement and use collections of software modules from different products.
Want to keep up with the latest ERP trends? Check out the Best ERP Software for 2024!
Written and researched by Gabriel Gheorghiu
Reviewed and edited by Aisha West
