Best ERP Software 2021
From small businesses to enterprise level operations, ERP software is a key asset for tracking and analyzing all aspects of your organization’s activities while giving enabling you to create strategies to optimize your processes.
In this review, we’ll discuss what exactly ERP software can do, how it can benefit you, and what you can expect from it, while giving you our top 5 picks for the best ERP software in 2021.
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What is ERP Software?
Enterprise Resource Planning (ERP) software is a system that acts as a single hub for all the tools you need to run your business. From accounting, to procurement, to HR and supply chain management, ERP software allows all critical day-to-day business activities to run under one umbrella.
A common misconception about ERP software is that it’s only for multinational corporations, but that’s not the case. Even small and medium sized businesses use this software to consolidate their tools and operations, streamlining processes across multiple departments. ERP systems are a crucial part to running a successful business because of the interconnectedness of the data collected. The service is celebrated for giving businesses one single point of truth, when it comes to collecting data about operations – making day-to-day ongoings more transparent and accessible.
Here’s an example of how an ERP system could work:
Imagine a company that makes hamburgers and gets their ingredients from multiple farmers and suppliers. An ERP system could track the purchase of ingredients and make sure that all components across the entire process use data connected to workflows, business processes, reporting and analytics. You can see how this information would be invaluable when it comes to building strategies and doing post-mortems on projects.
The Benefits of ERP Software
ERP software comes with many benefits that will make your business more efficient. The software collects the most critical data from each sector of your company and makes it easy to convert into reports, improving processes and optimizing resources. Because there is only one interface, you can say goodbye to data duplication, and rest assured when it comes to data integrity.
Companies will see reduced software overhead since ERP systems allow you to consolidate tools. The system should also reduce silos and make it easy for teams to share and compare notes.
What to Expect from ERP Software
Setting up an ERP system for your company can be complicated and expensive, depending on the features and modules you need. It’s important to understand your business needs before approaching an ERP software provider, so that you can assess what will work for your company. When deciding what ERP solution you want, make sure to look at features, any existing software that needs to be integrated and the price for custom features.
Since the system will be managing most of your data, you want to make sure you’re comfortable with the offering and that the ERP provider is able to offer onboarding support, training and customer service tools that make sense for the different sectors of your business.
ERP solutions can be expensive, before committing to a solution, do your homework and calculate the ROI. Make sure the cost of time for onboarding and training across your entire company makes sense, and that the long-term savings offset this initial cost.
Top Rated ERP Software
Best ERP Software for Enterprise Clients
While this ERP can work for any business, it has become known for its enterprise clients. Clients enjoy the software because of its automation, making it easy for organizational planning in large companies. Larger companies can justify the high cost of implementing this software, as it offsets the savings from optimizing processes and resources. For smaller companies, like startups there is a cloud version that is more affordable.
SAP’s service and support is excellent. They are dedicated to their clients and respond quickly to queries. They also provide an array of training materials and documents on their site and social media for their clients who are experiencing common issues.
Clients have commented on the ease of integration between SAP modules, data consistency, secure reports with real-time data and easy to use UI.
If your company has a need for eCommerce implementation, it’s important to note that the SAP ERP does not support this feature. It can also be difficult to integrate between SAP and non-SAP environments.
SAP has industry specific software for 25 industries.
- Contact SAP for custom pricing.
Best ERP Software for Global Business
Oracle EBS (E-Business Suite) is another ERP software that is great for enterprise businesses. This software is particularly great for customers who need to manage the complexities of doing global business.
The ERP allows businesses to collaborate across locations on human resources, sales, manufacturing and distribution to name a few, allowing for multiple people to work seamlessly on time sensitive projects at the same time.
Clients have reported that Oracle EBS outperforms the rest when it comes to order booking and fulfilment, invoicing, purchasing and record keeping – even noting that it is easy to mine data for historical reports which can help strategy teams put together cohesive plans.
For those looking for an eCommerce feature, Oracle EBS is not the solution for you, as it does not offer this. When it comes to improvements many customers have said that applications could be more intuitive, as many of them require further training.
Much like its SAP counterpart, this system might not be cost effective for small or medium sized businesses, and the company will need to evaluate just how much time and resources need to go into training staff, departments and different segments of the business.
Oracle EBS has industry specific software for 23 industries.
- Contact Oracle for custom pricing.
Microsoft Dynamics 365
Best ERP Software for Retail and eCommerce
This software was designed for mid-large sized companies and supports:
- multiple languages
- multiple currencies
- legal requirements for more than 30 countries
Its strengths are in manufacturing and e-business and the service has a heavy focus on wholesale and service industries.
Retailers can identify patterns, predict trends and see workflows in real time via the platform. Dashboards are customizable, so employees will only get the information relevant to their position. The software also helps users with year-end reporting, business intelligence, cash flow analysis and balance sheets.
The customer is at the center of every business, and this software takes that into account. It gives you what you need to ensure you have a great customer experience. Users will get visibility into the history of the customer cycle.
This software integrates with Microsoft products, so the product will feel familiar to users who are comfortable with Microsoft’s suite, which could mean that less training is needed, but you’ll likely still need to invest in training to ensure you get the most out of the services.
This software has industry specific software for 4 industries.
Best ERP Software for Small and Medium businesses
Their top features include financial management and human capital management, and they provide real-time business insights, helping financial teams stay on top of the numbers.
When it comes to HR, the application brings HR and talent management into one system of record, making managing a global and mobile workforce seamless.
The fast, easy to use and flexible software was designed with a modern workforce in mind. It’s intuitive and can be accessed from a variety of devices.
When it comes to customer support, customers have access to the online Workday Customer Center, where they can log tickets to receive assistance.
Workday does not offer customer relationship management or eCommerce features.
While this is a great option for small and medium businesses, large enterprises also use this software. PUMA, AstraZeneca and Panera Bread are all customers of Workday.
Workday has industry specific software for eight industries.
- Contact Workday for custom pricing.
Best for Client Focused Business
WORK[etc] is like a CRM that’s levelled up! This ERP solution is for businesses that put their client before all else. You can import client contacts from your email, web forms or manually enter them. The platform makes it easy to follow up on leads and meet your customer’s needs.
You can manage your leads, manage your projects, invoice your clients, ship products and solve client related queries all from the same interface – using WORK[etc] feels like almost anything is just a few clicks away.
Clients have celebrated WORK[etc] for its ease of use. All customer data is kept in one place, so that anyone can quickly get an overview of a customer’s activity.
The platform does not have a human resources feature.
WORK[etc] does not have industry specific options for their software.
- Contact WORK[etc] for custom pricing.
Our Rating Process
We assessed each software based on features, support team, industry specific software and ease of use to help you determine what the best ERP solution is for your enterprise or small business. We scored them each out of 5 points to help you in your decision process.
Features are important because this is what’s going to drive your business and optimize processes between teams. You want to make sure that there is a feature or integration for every critical department in your business.
Frequently Asked Questions
Choosing the best ERP software depends on your business’s needs. When it comes to ERP software, SAP has a great reputation and has built custom integrations for some of the world’s largest businesses. After doing your research, you might find that you don’t need something as complicated as SAP, especially if you are operating a small or medium sized business. You might want an ERP system that is extremely customer focused, in that case, you could choose WORK[etc]. You might have a retail business, and want a software that understands your operations, in that case you might choose Microsoft Dynamics 365. In any case, after identifying your business needs, you can begin finding the best ERP system for you by comparing their features to your needs.
ERP stands for enterprise resourcing planning. This software implements all the processes you need to run a successful company in one interface. It usually includes HR, supply chain, CRM, manufacturing, procurement and finance.
After deciding what ERP software you’re going to use, you will likely work with the software provider to activate your services. The provider should work with you to train employees, sectors and locations on how to use the software to help achieve business goals. Be sure to check with your ERP provider on how much training is included, and what kind of ongoing support they offer. Once your ERP software is set up, your teams will be able to easily manage their processes, track progress and share rich, accurate data.