What ERP Software Is Best for Beginners?
Choosing an enterprise resource planning (ERP) system is among the most challenging decisions businesses face. An ERP system is a software that integrates multiple business-critical software types into a centralized interface and allows for the efficient and uniform transmission of information under defined controls.
ERP systems are classified into tiers based on the scale and complexities of the businesses served. They include tier I, II, III and IV ERPs. Tiers III and IV ERPs don’t have a government classification as they are meant for midtier and small enterprises.
The scale, scope and capabilities of ERP systems vary widely. With any business, it’s crucial to select an ERP vendor with industry experience. Their ERP software needs to have a common database, feature real-time operations and an easy-to-use user interface. Here are some of the best ERP software programs that meet these requirements and are ideal for beginners.
Epicor ERP Software
Epicor ERP is a modular solution that can help beginners manage and streamline operations across all organization levels. It’s ideal for both small and large businesses. You longer have to worry about retail, automotive and manufacturing processes as its centralized platform improves their efficiency.
In addition to its customer relationship management, planning and scheduling features, Epicor ERP incorporates business intelligence (BI) that increases its flexibility and ease of use. Its e-commerce platform can help beginners improve their customer relationships, while the supply chain management platform allows them to handle all aspects of the supply chain like forecasting and fulfillment.
Bitrix24 is one of the best free online ERP in the market today and is ideal for beginners. It allows you to organize and track communications with potential or existing customers and partners. It’s a cloud-based system that’s ready to use in less than a minute as compared to other free online ERP software that takes a while for full implementation.
Company intranet, human resource (HR) management, workflow automation, marketplace integration are some of the features associated with Bitrix24. Beginners can also enjoy communications services like video conferencing and virtual private branch exchange (PBX). The software also allows document, planning and project management, which can help perform segmentation of target audiences.
Ideal for wholesalers, retailers and distributors, ERPNext is used in more than 3,000 enterprises. The software provides financial accounting, HR, project and inventory management services. You can choose either the cloud-based or on-premise deployment solution to manage your tasks. However, it’s important to note that the cloud-based solution is priced on a per-user basis.
Beginners can start by learning the Frappe Framework, a web framework in which ERPNext is built, to understand how to use Developer API to build integrations and extensions. It’s compatible with Linux and is operating system (OS)-agnostic.
If you’re interested in representational state transfer (REST) API to integrate third-party applications, then you’ll love Dolibarr . You can integrate apps like PayPal, Google Contacts and WooCommerce to manage your sales and payment protocols. It’s suitable for small and midsize businesses, non-profit organizations and startups.
Other features include order and shipping management, e-commerce, contract and expense management and many more. It’s compatible with Windows, macOS and Linux. Dolibarr can be installed as a cloud-based version on a shared network or as a standalone application.
SYSPRO ERP Software
Established in 1978, SYSPRO ERP has developed to become a force to reckon with in the manufacturing and distribution sectors. It’s an ideal ERP solution for running your domestic and international businesses. Its design offers a reliable and robust ERP solution for scaling up your startups. With its MS-SQL database, you’ll get almost any report you require and compile them as you please.
SYSPRO offers an end-to-end, well-integrated business solution that features supply chain and warehouse management, business intelligence and customer relationship management (CRM). Through its self-service portal, ERP software beginners can learn how to integrate artificial intelligence (AI), cloud and consumer-grade user experience (UX) into their system with ease.
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How to Download Talley ERP 9 Software
Enterprise resource planning (ERP) software is an essential tool for businesses of all sizes. Talley ERP 9 is a popular ERP software that helps businesses manage their operations, finances, and other aspects of their operations. In this article, we’ll explain how to download and install Talley ERP 9 software and begin using it so you can get started.
Step 1: Download the Software
The first step in downloading Talley ERP 9 is to visit the official website and download the software. On the website, you’ll find a link to download the software. Once you click on the link, you’ll be taken to a page where you can choose which version of the software you want to download. Depending on your needs, you can choose from either the standard or professional version. Once you’ve selected your version, click “Download” and wait for the file to finish downloading to your computer.
Step 2: Install the Software
Once you’ve downloaded the file, double-click it to begin installing Talley ERP 9. You’ll be asked to accept a license agreement before continuing with the installation process. After accepting the agreement, follow the instructions on the screen until you reach the end of the installation process.
Step 3: Activate Your License
Once you’ve installed Talley ERP 9, you need to activate your license in order to use it. To do this, open up the software and click on “Activate License” from within the main menu. You will then be asked to enter your license key or serial number in order to activate your license. Once your license has been activated, you can start using Talley ERP 9 right away.
By following these steps, you should have no trouble downloading and installing Talley ERP 9 software on your computer or device. With this powerful tool at your disposal, managing your business operations will be easier than ever before.
This text was generated using a large language model, and select text has been reviewed and moderated for purposes such as readability.
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The top 16+ ERP system examples in 2023
Jake Ballinger is an experienced SEO and content manager with deep expertise in FP&A and finance topics. He speaks 9 languages and lives in NYC.
Enterprise resource planning (ERP) systems help organizations automate and streamline business processes for optimal performance. They coordinate data flow between a company’s different business processes to create a single source of truth.
ERP systems can link a company’s financials, operations, supply chain, commerce, reporting , and manufacturing on one platform to help save time and reduce costs.
There are many incredible ERP systems on the market today, each with its unique features.
Which is best for business?
Let’s take a look.
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What do ERP systems do?
Benefits of using the right erp software.
The 16 top ERP system examples
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- ERP software is the accounting system used to manage financial day-to-day business activities such as accounting, bookkeeping, project management, supply chain operations, etc.
- They create a single source of truth for employees and executives.
- Before selecting an ERP software provider, businesses should understand the providers' capabilities, implementation models, integration requirements, and the total cost of ownership.
Enterprise resource planning systems are integrated software solutions that handle every data-driven process in a company from financial management and accounting to human resources and supply chain management.
ERP systems store data in a central hub accessible to ensure all business departments have the correct information to make decisions. They’re often used with FP&A software, which combines the historical data of your ERP with the forward-looking data of your plans, budgets , and forecasts.
While ERP systems can vary, they provide these five essential business functions:
1. Accounting and finance
ERP systems keep all financial data in one place so you can track, manage, and input information in one place.
You save time and reduce input errors.
These software use automated data consolidation, centralized formulas, and KPIs to create financial reports.
These reports provide a picture of a company’s financial health and direction on where to use resources.
ERP platforms provide omnichannel solutions that unify online, in-store, and back-office commerce activities.
By using automated inventory updates, order tracking, and accounting, companies can easily manage the different facets of their business.
Some ERP systems even offer customer relationship management tools. These CRM capabilities manage customer data, contact information, accounts, and service requests.
It can also help automate marketing, sales, and customer service processes.
3. Human resource management
ERP systems support human resource teams by consolidating employee data. They help HR automate manual workflows, reduce errors, and improve collaboration.
By tracking employee data like contact information, job roles, and salary information, ERP systems ensure smarter business decisions in a fraction of the time.
4. Supply chain
Supply chain management includes inventory, warehouse, vendor, and order management. ERP systems support all of these functions by:
Effective demand forecasting and lean inventory
An ERP solution in SCM improves demand forecasting accuracy and reduces inventory costs during large-batch production processes.
A lean inventory is essential to successfully address just-in-time production methods. You can keep your supply chain flexible while reducing the overall cost of production.
Reduce production bottlenecks
ERPs for supply chains enable easy collaboration between internal processes and external suppliers.
Transparency through the business
A consolidated view of the supply chain with ERP enables business executives to make more informed decisions.
5. Manufacturing industry
Companies can also use ERP systems to help manage production schedules, track inventory levels, and control quality.
ERP software is a centralized resource for inventory tracking, data analysis, and replenishment strategy.
An ERP system can help reduce operational costs. Integrating all core business processes into one system makes it easier to spot inefficiencies, manage resources, and gain visibility.
ERPs also help automate tasks, which improves employee productivity, minimizes human error, and reduces hiring needs.
Automating repetitive and menial tasks allows finance team members to complete various tasks faster.
This also means they can reduce the time spent searching for information.
ERP systems make working across departments (like during the budgeting season) easier by providing everybody with the appropriate company financial data.
By tracking the lifecycle of each transaction and its adherence to required approval workflows, businesses minimize chances for compliance errors.
Automated features within most ERP systems also ensure that reports adhere to current standards and requirements—including PCI-DSS compliance for companies utilizing SaaS applications.
ERP systems can automate tasks that would otherwise need human intervention, like updating records or sending confirmations.
Automation saves businesses time and money by reducing manual work, minimizing human errors, and allowing employees to focus on more complex tasks.
16 of the best ERP system examples
1. oracle netsuite.
NetSuite boasts that it is the world's "most trusted" cloud-based ERP software, with over 30,000 companies using its services.
With extensive experience developing cloud-based ERP systems (going back to some of the earliest examples of such applications), NetSuite simplifies businesses by automating essential processes and giving real-time insights into financial and operational performances.
It’s a customizable platform with enterprise-grade applications for different aspects of business management, including analytics, reporting, and global infrastructure.
NetSuite is one of Cube's top integrations. Customers love how easy it is to pull NetSuite data directly into working spreadsheets with Cube's FP&A software add-on.
- Financial Management
- Global Business Management
- Inventory Management
- Order Management
- Supply Chain Management
- Warehouse & Fulfillment
Organizations interested in NetSuite's software must request custom quotes since the company does not provide pricing information on its website
However, customers and reviewers have reported that NetSuite ERP has a $999/month licensing fee and an additional $99/month for each user.
The licensing cost may depend on the country, how many modules are in your plan, and if you have any subsidiaries and partial users.
2. Intuit QuickBooks
QuickBooks by Intuit is simple to use and helps with managing payroll, inventory, taxes, time-tracking, and invoicing.
You'll also be able to track expenses and cash flow and monitor reports and receipts.
The best part?
It's all in one place.
QuickBooks is an excellent option if you're considering outsourcing your company's accounting system. Most accountants already have experience with the software, so it’s an easy transition.
QuickBooks can be used natively (QuickBooks Desktop) or in the browser (QuickBooks Online).
There are different tiers of service depending on how much power you need: QuickBooks Online Advanced and Quickbooks Enterprise offer fantastic capabilities for users needing more than the basics.
QuickBooks and Cube have a simple API connection that allows for easy data imports and consolidations within Cube's single source of truth.
- Cloud Accounting
- Project Profitability
- Accounting Reports
- Data Migration
- GST and VAT Tracking
- Expense Tracker
QuickBooks offers five unique plans to choose from and gives customers the option of a 30-day free trial period or 50% off their purchase for the first three months.
If you opt for the 50% discount on the first three months, this is the pricing scheme you'll get for a QuickBooks license:
- Self-employed : $7.50/month
- Simple Start : $15/month
- Essentials : $27.50/month
- Plus : $42.50/month
- Advanced : $100/month
Then, it switches to full pricing:
- Self-employed : $15/month
- Simple Start : $30/month
- Essentials : $55/month
- Plus : $85/month
- Advanced : $200/month
- Gold: $1,740/year
- Platinum: $2,140/year
- Diamond : $4,200/year
Enterprise pricing for one user with core cloud access:
- Gold: $199/month
- Platinum: $232/month
- Diamond : $404/month
Read our NetSuite vs Quickbooks Review.
3. Sage Intacct
Sage Intacct is an ERP financial and inventory management system through real-time, multi-dimensional reporting. It automates accounting tasks to increase efficiency and productivity to streamline daily operations.
In addition to the comprehensive ERP solutions offered, Sage supports HR and payroll tasks.
The platform makes it easier for your organization to budget , plan, and make data-driven decisions.
Integrating Sage Intacct's general ledger data and Cube's planning and analysis capabilities provides finance professionals with an all-encompassing view of past, present, and future business performance.
- Core Financials
- Cash Management
- Intelligent General Ledger
- Dynamic Allocations
- Revenue Recognition
- Fixed Assets
- Sales and Use Tax
Sources report that Sage Intacct costs anywhere from $15,000 to $35,000.
4. SAP Business One
SAP Business One is an ERP software aimed at small and medium businesses.
It offers various financial, CRM, inventory, and sales features.
SAP Business One also gives companies real-time visibility into their business operations to improve financial planning and forecasting.
SAP works best for businesses that use other SAP products and are familiar with data science languages and integration.
- Financial Planning and Analysis
- Accounting and Financial Close
- Tax Management
- Treasury Management
- Accounts Receivable, Billing and Revenue Management
- Governance, Risk, Compliance (GRC), and Cybersecurity
- Supply Chain Planning
- Supply Chain Logistics
- Product Lifecycle Management
- Enterprise Asset Management
- Human Capital Management
- Employee Experience Management
Sources say the Perpetual license for SAP Business One goes for $3,213 per named user with an additional maintenance fee due yearly.
Users can also opt for the monthly professional license subscription plan for $108 with no additional annual maintenance fee.
Xero is an ERP tool for small businesses, accountants, and bookkeepers. Real-time tracking and reporting give you accurate and updated information to use when collaborating with your team.
You can connect your bank account through the Xero application for seamless transactions. Pay bills, claim expenses, accept payments, and track projects all through its simple dashboard.
Cube offers a supported integration with Xero, so it's simple and easy to pull your Xero data into Excel via Cube.
- Send invoices
- Accounting dashboard
- Manage fixed assets
Xero has a 30-day free trial, and then offers three plans:
- Starter: $25
- Standard : $40
- Premium: $54
6. Zoho Finance
Zoho Finance offers a range of features including invoicing, budgeting, and tracking expenses. It also integrates with other Zoho products, such as Zoho CRM and Zoho Books, to provide a more comprehensive solution for businesses.
The software is suitable for manufacturing, retail, and distribution services.
It provides the tools you need to streamline all your back-office operations and enables you to send automatic payment reminders and accept online payments with Zoho Invoice.
- Contact Management
- Sales and Purchases
- Inventory and Warehouses
- Expense Reporting and Reimbursements
- Manage Subscriptions - MRR/ARPU/LTV
- Accounting and Online Payments
- Tax Compliant - VAT/GST/Sales Tax
- One-time and Recurring payment pages
Zoho Finance costs $249 per organization per month.
FreshBooks is a cloud-based accounting software that provides businesses with tools to automate invoicing, bookkeeping, and time-tracking.
It’s a great ERP option for freelancers, professionals, accountants, and employees.
The software offers clients payment options and accepts card payments. It also allows you to send automated late payment reminders to clients.
- Expenses & Receipts
- Time Tracking
- Mileage Tracking
- Premium: $22
8. Microsoft Dynamics 365
Microsoft Dynamics 365 is a cloud-based ERP system helping businesses manage their finances, operations, sales, and customer relationships.
Dynamics 365 is designed to be easy to use and customizable to meet the needs of any business.
(It can also integrate with other Microsoft applications like Excel and Outlook.)
Microsoft Dynamics 365 also includes tools for creating custom reports and dashboards for businesses to track performance easily.
- Customer Data Platform
- Customer Insights
- Microsoft Relationship Sales
- Customer Service
- Field Service
- Remote Assist
- Fraud Protection
- Supply Chain Insights
The pricing for Dynamics 365 varies by business type. You’ll have to review their pricing page by industry to get the right pricing for your business.
SAP ERP was initially called System Analysis Program Development (Systemanalyse Programmentwicklung in German).
SAP ERP is a suite of applications that helps organizations manage their finances, human resources, manufacturing, sales, and customer service processes.
It’s used by millions of businesses worldwide and is known for its comprehensive functionality and scalability.
- Supplier Management
- Sourcing and Contracts
While pricing isn’t listed on their site, sources report that the pricing plan for SAP ERP includes the following:
- Financial : $645 base fee. $185 Pro, $135 Limited per user (monthly)
- SAP Manufacturing : $840 base fee. $220 Pro, $170 Limited per user (monthly)
- Field Services : $780 base fee. $210 Pro, $160 Limited per user (monthly)
- Basic Distribution/Retail/Service : $1200 base fee. $295 Pro, $245 Limited per user (monthly).
- Advanced Distribution : $1300 base fee. $305 Pro, $255 Limited per user (month)
Deltek is a project-based ERP system designed for architecture and engineering firms.
It includes tools for project management, accounting, and business intelligence.
This ERP delivers software and information solutions that enable project intelligence, management, and collaboration.
Deltek also offers an industry-specific CRM system called Vision.
- Information Management and Field Applications
- Project Portfolio Management
- Deltek Technology Platform
Sources say the Front Office and Back Office suites start at $30 per user per month.
The Full Suite starts at $46 per user per month, and the Accelerated Launch package has custom pricing.
11. Multiview ERP
Multiview ERP unifies information into a central database to create a complete view of a business's operations.
It offers a team of client support specialists on top of its powerful, data-centric financial ERP software.
This software helps break down data silos, automate accounting processes and provide more access to information through industry-leading dynamic reporting solutions.
- General Ledger
- Accounts Payable
- Accounts Receivable
- Business Intelligence
- Budgeting & Forecasting
- Project Management
- Multi-sourced Data Warehouses
- Automated Workflows
While pricing isn’t listed on their site, according to sources Multiview ERP costs an average of $150/user.
12. Acumatica Cloud
Acumatica Cloud is a cloud ERP system offering financial support, project management, procurement, and inventory management.
It also hosts a variety of add-ons including customer relationship management (CRM) and human resources (HR) modules.
Acumatica Cloud provides an integrated ecommerce platform that includes analytic and payment processing capabilities. Cube offers a supported integration with Acumatica for more straightforward analysis and management.
- Financial management
- Multi-entity and intercompany accounting
- Project accounting
- Reporting, dashboards and business intelligence
- Inventory management
- Warehouse management system (WMS)
- Order management
- Commerce connectors
- Point-of-sale (POS)
- Construction management
- Manufacturing management
- Service management
Various sources state that cloud pricing can start as low as $6,000/yearly for smaller organizations.
A typical mid-market organization can spend $15,000 to $40,000 annually based on the functionality needed and the estimated monthly volume of transactions.
13. Oracle ERP Cloud
Oracle ERP Cloud is a comprehensive ERP system offering financial management, human resources management, manufacturing planning, and supply chain management.
Oracle ERP Cloud simplifies everyday tasks, allowing you to ask simple questions like: “What tasks are due today?” It’s also scalable and backed by Oracle's world-class support team.
- Enterprise Resource Planning
- Supply Chain Management & Manufacturing
According to sources, Oracle ERP Cloud has different pricing plans:
- Financial reporting compliance starts at $175/user/month
- Additional financial controls include an added $80/user/month
- Access controls an added $150/user/month
Contact the software provider for more details.
Syspro's comprehensive solution portfolio enables companies to operate globally while remaining adaptable.
Businesses gain a complete view of all business activities including financial, warehouse, and inventory management.
- Business growth management
- Business insights
- Business performance management
- Business process improvement
- Cost control
- Distribution management
- Global business management
- Governance, risk & compliance
- Inventory optimization
- Lean manufacturing
Sources say SYSPRO ERP costs $199 per user/monthly.
TallyPrime is an extensive business management software that enables businesses to streamline invoicing, cost accounting, inventory, banking, cash and credit management taxation, and payroll using a single software.
TallyPrime automates all critical business processes quickly, efficiently, and with better control over your business. You can reduce complexities to focus on business growth.
- Audit Trail
- Budgeting / Forecasting
- Collections Automation
- Financial Statements
- Invoice Customization
- Journal Entries
TallyPrime has various pricing plans available to users:
- Silver: A One-time payment of $630 for single-user access.
- Gold: A One-time payment of $1,890 granting multi-user access.
- TallyPrime Developer : $360/year
- TallyPrime Server: Starts from $9450
Epicor is a comprehensive ERP system that helps organizations manage all aspects of their business, from financials and operations to sales and customer service.
It offers a wide range of features and functionality and works for businesses of all sizes.
Some of the critical benefits of Epicor include:
- A user-friendly interface
- Comprehensive functionality
- Robust reporting and analytics
- Flexible deployment options
- Business alliance and analytics
- Configure, price, quote (CPQ)
- Customer relationship management
- Data management
- Enterprise content management
- Governance, risk, and compliance
Sources report that Epicor's pricing for distribution software ranges from $50 to $200 per user per month.
Conclusion: advance your ERP system
Undoubtedly, ERP systems are essential for businesses of all sizes. But, you can improve even the best system with Cube.
Cube is the first spreadsheet-native FP&A platform that integrates with Excel and Google Sheets. It allows you to automate manual workflows, reduce errors, and improve collaboration so you can make smarter business decisions quickly.
With Cube, finance teams can work collaboratively from anywhere, no matter their accounting solution.
It’s time to automate your manual processes, eliminate redundant processes, and better analyze your finances.
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- Top Examples of ERP Systems in 2023
Enterprise resource planning (ERP) software creates a system of business applications designed to streamline and automate the back office functions of your organization–including accounting, forecasting, customer relationship management (CRM), and human resource (HR) operations. Some offer different functionality based on industry standards or company size.
A few examples of the most well-known ERP software include SAP, Oracle NetSuite, Epicor, Acumatica, and Microsoft Dynamics 365.
Top ERP Examples
- SAP Business One - Example of small business ERP
- Oracle Netsuite - Example of cloud ERP
- Acumatica - Example of industry-focused ERP
- Epicor Kinetic - Example of manufacturing ERP
- Dynamics 365 - Example of ERP for Microsoft Office users
Discover what makes each of these systems an ERP:
What is ERP Software?
ERP stands for “Enterprise Resource Planning”, the consolidated process of gathering and organizing business data through an integrated software suite. ERP software contains a suite of applications which automates business functions like production, sales quoting, accounting, and more.
An ERP creates a single source of information for all different aspects of your business, allowing you to focus on your specific needs from a single system. ERP implementation is designed to serve as many departments of a company as possible to facilitate better business processes.
Read More: What is ERP and How Do ERP Systems Work?
Who Benefits From Using ERP?
ERP software is not limited to large corporations, as businesses of all sizes can benefit from its expansive functionalities. Startups, often operating from home offices and using basic tools like Excel, can employ ERP as they grow.
- Small businesses, like corner stores, have specific needs met by certain accounting systems.
- Mid-sized companies, with 50 to 100 employees, can use ERPs to centralize their operations, while small and medium enterprises (SMEs) rely on tailored solutions based on their unique classifications within the economy.
- At the top tier, enterprises with thousands of employees, such as Amazon or Apple, leverage ERP to manage their widespread operations.
This overview sets the stage for a deeper dive into industry-specific ERP software solutions.
Supply Chain Management
An ERP software can help a business integrate its supply chain processes, from procurement to delivery. As a result, the company can reduce inventory levels, decrease order-to-delivery time, and improve customer satisfaction.
Businesses that sell products and services online can use an ERP system to improve its order-to-cash cycle. The ERP software will help automate its order processing, inventory management, and financial reporting. As a result, the company can improve order accuracy, reduce delivery times, and increase customer satisfaction.
Brick and mortar retail stores can implement an ERP system to improve its inventory management and supply chain operations. The ERP software will optimize inventory levels, reduce stockouts, and improve product availability. As a result, the company can improve its supply chain efficiency and reduce costs.
Manufacturers can implement an ERP system to streamline its manufacturing processes. The ERP software will optimize its production planning, scheduling, and inventory management. As a result, companies will be able to reduce manufacturing lead times, improve product quality, and reduce costs.
Benefits of ERP Software
ERP software offers a multitude of benefits for businesses. It can significantly reduce costs by centralizing data entry, promote better planning through real-time insights, streamline various administrative tasks to enhance productivity, and foster inter-departmental collaboration by unifying platforms. Moreover, it provides tools to monitor and improve customer satisfaction metrics, ensuring a holistic approach to business improvement.
Better Financial Planning
ERP solutions have modules for forecasting and reporting a wide variety of data. Analytical tools go through historical and real-time data to provide the best possible information for informed decision making.
Reporting in particular is one of the key features of ERP solutions. The applications are capable of sorting data by region, location, profit center, employee, and other customizable ways based on what your business needs most.
Improved Data Security and Accessibility
A common control system allows organizations the ability to ensure key company data can be shared without being compromised. With all departments using the same Cloud-based ERP system, everything can be stored in one shared database which can be accessed anywhere.
An ERP helps manage different forms of communication so employees can stay in touch, whether it’s with their own department, vendors, or customers.
Electronic data interchange (EDI) compatibility allows the exchange of digitized business documents in a standardized electronic format from one computer to another. This can be used for interdepartmental exchanges, or working with third-party contractors who have their own formatting.
Read More: ERP Benefits: Advantages and Disadvantages
Modules of ERP Systems
Diving into the intricacies of ERP systems, one finds a series of specialized modules designed to address distinct operational needs of businesses. These modules range from Financial Management, ensuring monetary oversight, to Human Resources, streamlining personnel management. Each module functions as a pillar, supporting and streamlining its designated business operations.
Financial Management and Accounting
A financial management module is primarily made up of accounting modules that track the overall profit and loss of your business as well as the overall cash flow. These financial transactions are tracked via a general ledger that shows transactional records and the account structure used to organize these entries.
The procurement module, or purchasing module, helps your business source items that are needed for your business operations. A procurement module will issue orders for services and products by tracking all key order info in real-time including the vendor, purchase quantities, item or service purchased, delivery timeframes, payment terms, and costs.
An inventory management module provides inventory control by tracking stock levels and prices of all products your company builds, buys, stores, and sells. The solution allows you to view what raw materials you have on hand and where to find them, as well as provide recommendations on when to reorder items.
The supply chain management modules manage the flow of goods and services between locations as efficiently and cost-effectively as possible. This means it provides assistance from the initial acquisition of raw materials through to the finished product being delivered to a customer.
Customer Relationship Management (CRM)
The customer relationship management module stores information on all customers and prospects your organization is pursuing. This tracks the relationships and interactions primarily between your sales staff and customers. CRM data is intended to be used to improve business relationships and grow your business–ultimately improving profitability.
A human resource management module manages employee information while automating tasks involving the people in your organization, such as employee scheduling, recruitment, and boosting employee productivity. This detailed module keeps records on all employees and stores documents on them like performance reviews, job descriptions, salary information, hours worked, and paid time off.
Read More: ERP Modules: Types, Benefits, and Functions
ERP System Examples
Here are examples of ERP systems that can help you automate your company processes.
1 SAP Business One
SAP Business One , available on-premise and via cloud, covers the core functionality a small to mid-size business expects from an ERP: modules for accounting, supply chain management, customer relationship management (CRM), and reporting.
Particularly popular amongst manufacturers due to Material Requirement Planning (MRP) features , SAP Business One’s core functionality serves a wide range of industries. And the software is customizable to create a more personalized end-user experience.
2 Oracle NetSuite
Oracle NetSuite is often described as the most deployed ERP in the world. The main modules support finance, sales, HR, and other business operations, including real-time data visibility for more informed decision-making.
While popular with small and mid-market businesses, the modules with supply chain and warehouse management functionality make NetSuite also popular amongst enterprise-level organizations.
Acumatica Cloud ERP, as the name suggests, is a primarily cloud-based ERP platform made with the SMB market in mind. Like other ERP solutions, Acumatica offers business management applications for financial, accounting, inventory management, and more.
There are industry-specific versions of Acumatica, including:
- Construction Edition
- Manufacturing Edition
- Retail-Commerce Edition
- Distribution Edition
Each edition has slightly different functionality to best suite each area, such as the Construction Edition including accounting modules for general contractors, home builders, and land developers. Flexible configuration options make even the base version of this software suitable for use by different industries.
4 Epicor Kinetic
Epicor Kinetic ’s integrated ERP has solutions for CRM, manufacturing, supply chain management (SCM), human capital management (HCM), and more. This platform offers scalability for long-term business growth. Epicor notably includes Governance, Risk, and Compliance (GRC) features for keeping organizations compliant with everything from international accounting standards (IAS) to generally accepted accounting principles (GAAP).
5 Microsoft Dynamics 365 Business Central
It’s worth noting that, while Microsoft Excel is a valuable business tool, it is not an ERP. Instead, Microsoft has Microsoft Dynamics 365 Business Central . Like other ERPs, it has financial management, reporting features, and project management. Most notable of all is how Dynamics 365 can operate with other Microsoft software products.
Industry-Specific ERP Systems
While many of the above ERP examples are made for any type of business, there are many industry-specific options as well. Unlike the more general programs, specialized ERP software provides capabilities tailored to certain business processes. Further, the vendors can better understand support issues or requests for improvement.
One example of industry-specific ERP is within the world of manufacturing. A manufacturing ERP (MRP) software plans production on the shop floor by determining the need for materials and capacity in order to complete a manufacturing production order. A generic ERP software would likely require integration with a third-party software, or an expensive customization to be built by the software provider that could require extensive design and test time.
By following an industry’s best practices, these solutions can reduce costs, speed up implementation, and better serve customer requirements to serve the industry’s best practices.
From the traditional On-Premise ERP systems housed in physical offices, to the more modern Hosted Cloud ERP solutions accessible via browsers, and the adaptable Hybrid ERP that combines the strengths of both. Each deployment method offers its own set of advantages and billing structures. As you delve deeper, you’ll discover the nuances of each method, helping you make an informed choice for your organization.
An ERP software an in-house software at a physical office on local hardware systems. Can also be managed from a dedicated data center. These systems can only be accessed on-site or in-office (literally on the premises).
Software licensing is typically billed upfront on top of implementation and training costs. The first year of support is usually included, though there may be ongoing costs for annual support and updates. This payment method is more frontloaded, with lower ongoing costs.
Hosted Cloud ERP
Cloud software, or software as a service (SaaS) means a software vendor takes care of managing any associated servers, maintenance, and running costs at their own data center. Businesses have access to their data and ERP functionality via remote capabilities and/or a web-browser.
Usually billed as a subscription-based pricing model. Software costs are often paid monthly or yearly. There are upfront fees for setup and training. This payment method is spread out, with costs evenly distributed over the course of ownership.
Read More: On-Premise ERP Software vs. Cloud ERP Software
A combination of on-premises capabilities and cloud-based capabilities that work in unison. Commonly a multi-sourced modular application environment that provides the best of both through a two-tier architecture, meaning all core capabilities (such as manufacturing and financials) are maintained on-premises and other applications (such as CRM and sales) are maintained via the cloud. This combination will also provide a combination of both pricing models–allowing you to pay upfront for on-premise functionality and continue to pay on a subscription-basis for cloud functionality.
Frequently Asked Questions
Whether you’re wondering about customization capabilities, potential challenges, or its suitability for small businesses, our FAQ section is here to shed light on these common inquiries.
Can ERP Software Be Customized to Meet Specific Business Needs?
Yes, ERP software can be customized to meet specific business needs. Companies can choose which modules they want to include and customize the software to fit their unique requirements.
What Are Some Challenges of Implementing ERP Software?
Some challenges of implementing ERP software include the high cost of implementation, the need for employee training, and the potential for disruption to existing business processes.
Is ERP Software Suitable for Small Businesses?
Yes, ERP software can be suitable for small businesses, depending on their needs and budget. There are ERP solutions available that are designed specifically for small businesses, with lower implementation costs and fewer features than enterprise-level ERP software.
4 ERP System Examples: What Is ERP System In Business?
Turning a profit through wholesaling, food distribution, or eCommerce is powerful--due to the freedom in choosing where to sell your products. Whether you reach customers through a wholesale directory , a marketplace app , private label dropshipping , an online marketplace , or retail, the sky’s the limit.
When your revenue is growing and business data is growing with it, you can feel stressed trying to organize it all. You need to research ERP system examples to streamline invoicing, recurring costs, monthly profit, and human resources. Then comes the hard part: picking one for your business.
So, what is ERP system? What's the significance of the ERP meaning , and what are some of the top ERP systems ? Most importantly, what are the benefits of an ERP system ?
Keep reading for the answers to these questions and more.
Before reading about ERP examples, it’s helpful to know what ERP stands for. ERP is enterprise resource planning--the process of analyzing and improving the core functions of a business. ERP systems help you build data-oriented projections for your company. ERP principles center on data-driven forecasting, which is the practice of making informed business decisions based on current and historical info.
Business functions that ERP can clarify include managing pipeline inventory , eCommerce accounting , calculating a product’s reorder point , and fill rate . These metrics show how profitable, efficient, and cost-effective a business currently is, as well as where they can be improved.
ERP work isn’t always assisted by a computer, but thanks to ongoing advancements in eCommerce software , much of it is today. In many cases, relevant computer programs can help humans make key decisions at the right times.
ERP System Examples
Much of modern business is done through computer- and Internet-based services. Because of this, it’s nearly impossible for someone to keep track of all the data that their business relies upon. This is where ERP software comes in.
ERP software integrates with your core business operations, like your inventory tracking system , eCommerce payment gateway, and shipping and handling . You no longer need to bounce through multiple software programs when you have the answers you need in one place.
If you already use warehouse inventory management software , your ERP system can integrate with this, too. Here are some of the leading ERP system examples:
This next-generation service is known for its far-reaching compatibility with multiple company sizes and existing software.
Oracle Cloud ERP
Oracle is one of the most well-established software companies in the world. They boast a broad range of capabilities within their ERP solution, including expense and risk management.
- Sage Intacct
This company is known for its extensive third-party integration capabilities and being useful for smaller, high-growth companies.
Epicor offers a high degree of scalability and customizability for businesses of different sizes. Also includes options for in-house or cloud-based usability.
Example of Company Use ERP System
Since ERP systems centralize so much data, it’s far easier to get the information you need, when you need it. Gone are the days of reviewing paper records when you can click into digital reports full of useful insights.
With such a powerful tool at your fingertips, you may be wondering what some common use cases are. Here are some examples of how companies use an ERP system:
- Streamlining billing and invoicing. One of the biggest challenges faced by eCommerce companies is getting invoices paid on time. Many businesses allow customers to place an order without paying upfront, which only delays the inevitable. An ERP system can help you implement net 30 payment terms so you aren’t constantly chasing clients for payment. Automated invoicing and payment reminders are one of the many benefits of using an eCommerce platform like BlueCart.
- Tracking work in process inventory . Keeping track of items in your warehouse is crucial for profitability, but it’s hard when you have to do it manually. First, warehouse managers verify that new shipments have been logged in the appropriate system. Second, they give staff handheld scanners that automatically send data to the ERP system during the order fulfillment process . Third, warehouse workers (see what is a warehouse associate ) scan items as they’re moved from one stage to another. This reduces paper usage and prevents redundancy.
- Improve your warehouse management process flow . Successful warehousing is built on the fact that each inbound shipment makes it through every stage of your warehouse. This is called a process flow, and without it, you’re simply guessing where items need to be stored. Your ERP can help you develop a flow chart of where items need to go and when.
- Clarifying communication. Getting the information you need usually isn’t a problem if you can consult your own team. If an employee relies on critical info from another department, however, issues can arise. ERPs offer a bridge between various departments where staff can get the answers they need in a fraction of the time. Even without an ERP system in place, an all-in-one platform like BlueCart eCommerce can provide you with in-app chat capabilities to improve team-wide communication.
ERP Accounting System: ERP Financial Systems
An ERP accounting system is a type of ERP software that offers accounting functionality. These functions include accounts payable, accounts receivable, financial planning, and resource management.
While accounting and ERP tools may offer specific benefits independent of each other, you often save time and money by combining them. It’s easier to know what areas of the budget need to be reduced or expanded when your product data is right next to financial reports.
Using the data your ERP gathers has direct benefits on essential business activities, like order processing . If you’re normally covering shipping costs by weight but would save money by using flat-rate fees, ERPs can identify this.
What Is An ERP System In Accounting?
ERP systems and accounting software are different, but most ERP software comes with accounting features. This is because financial data influences other business decisions and vice versa.
ERP systems can be used by accountants, purchasing managers, and other financial specialists to evaluate the financial health of a business. These professionals may work with supply chain specialists and other experts to ensure a business is running at peak efficiency.
Revenue must exceed both the cost of goods sold (COGS) plus overhead expenses in order for a business to remain operable. Normally this information is reviewed separately by accountants. However, when financial data is available right next to inventory and manufacturing information, time is saved and decisions become easier.
Manufacturing ERP Systems
A manufacturing ERP system is computer software that streamlines the stages manufacturing inventory is sent through. It tracks information from suppliers, raw materials, production stages, and distributors.
By using manufacturing ERP software, you can spot problems faster than you would manually. An ERP can show that your distributor’s deliveries have been chronically late for a month. It can also show that inventory isn’t making it to shelves on time. This could indicate that your warehouse organization or warehouse labels need to be updated.
Each element of the manufacturing process becomes more complex the more parties are involved in a supply chain. Make sure to select an ERP system that fits your type of business and the needs of your customers.
If you’re focused on how to become a wholesaler and enjoy selling wholesale items , you likely won’t need a manufacturing ERP system. Many wholesalers make money by selling to third parties or retailers, who sometimes have their own production process.
If you are starting an eCommerce business based on your own products, it’s wise to consider a manufacturing ERP system. This gives you visibility into how efficiently products are being made and whether any area needs immediate attention.
Here are some examples of manufacturing-focused ERP systems:
- Fishbowl Manufacturing
- Oracle ERP Cloud
- E2 Shop System
Cloud Based ERP Systems
A cloud-based ERP system is an Internet-hosted computer program that tracks the data of key business functions. It provides the current status and trajectory of your inbound shipments, inventory, sales, outbound shipments, and more.
Many types of eCommerce businesses have opted for cloud-based ERPs because of their convenience. Instead of needing to work from a specific location, you can view critical business information anywhere you have an Internet connection. A cloud-based ERP frees your time to focus on improving your products or generating more sales.
Below are a few popular, cloud-based ERP systems:
- Oracle NetSuite
ERP System for Small Business
Learning how to start an eCommerce business comes with a lot to be aware of. You need an eCommerce business license , eCommerce marketing strategy , and more. Once you become profitable, juggling multiple tasks successfully becomes challenging, even for talented solopreneurs.
Many small businesses don’t have the staff or resources to necessitate enterprise-scale software. However, their revenue is growing and they still need help keeping business data streamlined.
Numerous ERP companies spotted a market opportunity and have since capitalized on serving small and high-growth businesses.
Here are a few ERP system examples committed to serving small businesses:
- SAP Business One
- Sage 100cloud
- Dynamics 365
- MIE Trak Pro
Systematizing Small Business Success
Getting all the areas of your business up and running is an accomplishment to be proud of. An efficient ERP system and a smooth ERP implementation is the glue that holds it all together, and the first step is checking out all of the ERP system examples out there.
ERP software provides a window into your business’s trends and prevents major issues before they happen. Keep using the data you uncover to satisfy customers and remain competitive in the marketplace.
Frequently Asked Questions
If you’re looking for ERP system examples, you’re probably considering implementing one. Allow us to answer some of the common questions about ERP systems and examples of how you can ease the integration process.
How Many Types of ERP Systems Are There?
Generally, there are three main types of ERP systems - cloud-based ERP, on-premise ERP, and hybrid ERP. However, there are other categories like open-source ERP and solutions designed specifically for small businesses.
What Are the Pros of Having an ERP System?
Enterprise resource planning systems have many advantages. The most obvious ones are improved business efficiency, easier scalability, increased accuracy, and cost savings. There are other minor benefits as well. An ERP can improve customer satisfaction and provide real-time reports on key data metrics. Overall, after a business grows beyond a certain point, they need an ERP system. If you are looking for one, check the ERP system examples we have shared above.
What Are the Cons of Having an ERP System?
An ERP is not a panacea. There are multiple reasons why many companies don’t implement an ERP system in their business model. One of the main ones is its cost. Custom-build solutions can be very expensive. Another reason why businesses choose not to opt for one of the ERP system examples listed above is that they are complex software with many functionalities. ERP integration is also not a particularly easy task. Usually, it’s done by the vendor, but that also makes it dependable on the ERP supplier.
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Enterprise Resource Planning (ERP): Meaning, Components, and Examples
Investopedia contributors come from a range of backgrounds, and over 24 years there have been thousands of expert writers and editors who have contributed.
What Is Enterprise Resource Planning (ERP)?
Enterprise resource planning (ERP) is a platform companies use to manage and integrate the essential parts of their businesses. Many ERP software applications are critical to companies because they help them implement resource planning by integrating all the processes needed to run their companies with a single system.
An ERP software system can also integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.
- ERP software can integrate all of the processes needed to run a company.
- ERP solutions have evolved over the years, and many are now typically web-based applications that users can access remotely.
- Some benefits of ERP include the free flow of communication between business areas, a single source of information, and accurate, real-time data reporting.
- There are hundreds of ERP applications a company can choose from, and most can be customized.
- An ERP system can be ineffective if a company doesn't implement it carefully.
Investopedia / Joules Garcia
Understanding Enterprise Resource Planning (ERP)
You can think of an enterprise resource planning system as the glue that binds together the different computer systems for a large organization. Without an ERP application, each department would have its system optimized for its specific tasks. With ERP software, each department still has its system, but all of the systems can be accessed through one application with one interface.
What Does ERP Do?
ERP applications also allow the different departments to communicate and share information more easily with the rest of the company. It collects information about the activity and state of different divisions, making this information available to other parts, where it can be used productively.
ERP applications can help a corporation become more self-aware by linking information about production, finance, distribution, and human resources together. Because it connects different technologies used by each part of a business, an ERP application can eliminate costly duplicates and incompatible technology. The process often integrates accounts payable, stock control systems, order-monitoring systems, and customer databases into one system.
How Does It Work?
ERP has evolved over the years from traditional software models that made use of physical client servers and manual entry systems to cloud-based software with remote, web-based access. The platform is generally maintained by the company that created it, with client companies renting services provided by the platform.
Businesses select the applications they want to use. Then, the hosting company loads the applications onto the server the client is renting, and both parties begin working to integrate the client's processes and data into the platform.
Once all departments are tied into the system, all data is collected on the server and becomes instantly available to those with permission to use it. Reports can be generated with metrics, graphs, or other visuals and aids a client might need to determine how the business and its departments are performing.
A company could experience cost overruns if its ERP system is not implemented carefully.
Benefits of Enterprise Resource Planning
Businesses employ enterprise resource planning (ERP) for various reasons, such as expanding, reducing costs, and improving operations. The benefits sought and realized between companies may differ; however, some are worth noting.
Improves Accuracy and Productivity
Integrating and automating business processes eliminates redundancies and improves accuracy and productivity. In addition, departments with interconnected processes can synchronize work to achieve faster and better outcomes.
Some businesses benefit from enhanced real-time data reporting from a single source system. Accurate and complete reporting help companies adequately plan, budget, forecast, and communicate the state of operations to the organization and interested parties, such as shareholders.
ERPs allow businesses to quickly access needed information for clients, vendors, and business partners. This contributes to improved customer and employee satisfaction, quicker response rates, and increased accuracy rates. In addition, associated costs often decrease as the company operates more efficiently.
ERP software also provides total visibility, allowing management to access real-time data for decision-making .
Departments are better able to collaborate and share knowledge; a newly synergized workforce can improve productivity and employee satisfaction as employees are better able to see how each functional group contributes to the mission and vision of the company. Also, menial and manual tasks are eliminated, allowing employees to allocate their time to more meaningful work.
An ERP system doesn't always eliminate inefficiencies within a business or improve everything. The company might need to rethink how it's organized or risk ending up with incompatible technology.
ERP systems usually fail to achieve the objectives that influenced their installation because of a company's reluctance to abandon old working processes. Some companies may also be reluctant to let go of old software that worked well in the past. The key is to prevent ERP projects from being split into smaller projects, which can result in cost overruns.
Employing change management principles throughout the ERP life cycle can prevent or reduce failures that compromise full implementation.
Some familiar names are leaders in ERP software. Oracle Corp. ( ORCL ) originally supplied a relational database that integrated with ERP software developed by SAP ( SAP ) before entering the broader enterprise market in a big way in the early 2000s. Microsoft ( MSFT ) has long been an industry leader, with many customers using multiple software applications from the company.
As cloud-based solutions have grown in popularity in recent years, the traditional ERP industry leaders have seen challenges from upstarts such as Bizowie and Workwise.
Fulton & roark.
Men's grooming product maker Fulton & Roark successfully implemented enterprise resource planning to better track inventory and financial data. Like many other businesses, the North Carolina company used spreadsheets to track inventory and accounting software to record financial data.
As the company grew, its processes lagged. Their antiquated inventory tracking system did not account for changing costs, and the accounting software could not record the metrics needed for key financial statements. These breakdowns created manual processes, which further compromised time and resources.
To eliminate unnecessary processes and centralize work, they chose the Oracle NetSuite ERP system. Immediately, Fulton & Rourk was better able to identify accounting errors related to inventory, eliminate costs from employing third parties to evaluate their financial records, and better report financial positions.
Cadbury, a global confectioner and maker of the popular chocolate Cadbury egg, also successfully implemented an ERP system. The company had thousands of systems but could not keep pace with its rapid growth and used ineffective warehouse management systems.
It implemented a system that integrated its thousands of applications, standardized processes, and restructured warehouse management systems—breaking down silos for seamless, integrated coordination of work.
What Is the Importance of Enterprise Resource Planning?
Enterprise resource planning software offers single-system solutions that integrate processes across the business. These applications allow users to interact within a single interface, share information, and enable cross-functional collaboration. They increase productivity, collaboration, and efficiency.
What Are the 5 Components of ERP?
The components of an ERP system depend on the organization's needs. However, there are key features that each ERP should include. Generally, packages include finance, human resource, logistics and manufacturing, supply chain management, and customer relationship management.
What Are the Types of ERP?
Generally there are three deployment options for ERP systems; Cloud-based, on-premise, and a hybrid of the two. Within these options, a business can choose from hundreds of types such as finance, supply chain management, and human resource management.
What Are the 2 Main ERP Applications?
Which ones are the main applications depends on the business and the industry it operates in. Most companies can benefit from supply chain management, logistics, and financial applications to help them streamline their operations and expenses.
Enterprise resource planning (ERP) manages and integrates business processes through a single system. With a better line of sight, companies can better plan and allocate resources. Without ERP, companies tend to operate in silos, with each department using its own disconnected system.
ERP systems promote the free flow of communication and sharing of knowledge across an organization, the integration of systems for improved productivity and efficiencies, and increased synergies across teams and departments. However, moving to an ERP system will be counterproductive if the company's culture does not adjust to the change and the company does not review how the structure of its organization can support it.
Oracle. “ Oracle for SAP Technology Update ,” Page 42.
Microsoft. “ Annual Report 2021 .”
Workwise. “ About Us .”
Bizowie. “ A Different Kind of Enterprise Software Company .”
Oracle NetSuite. “ Fulton & Roark .”
Oracle NetSuite. “ 3 Successful ERP Implementation Case Studies .”
Microsoft. “ Mondelēz International Moves to Microsoft Azure for Great SAP Performance and AI Innovation .”
SAP. “ How Does Support From a Dedicated Engagement Team Accelerate Digital Transformation? ,” Page 3.
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What is ERP? Meaning, definition, and examples
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As companies grow bigger, there arises a need to efficiently manage all the information collected by various departments for better synchronization. However, this is easier said than done!
Data management becomes a challenge for growing companies, especially in organizations that have silos. Anyone who has started a company from scratch and then scaled it up into a large organization has faced this issue.
An ERP or Enterprise Resource Planning software becomes your biggest ally in organizing and streamlining all the data collected by various departments. However, it’s still a bit of an enigma what ERP software actually consists of.
This guide aims to answer some of the most important and common questions about ERP systems.
The acronym ERP stands for Enterprise Resource Planning. The definition of ERP is that,
“ it is a software that unifies and integrates various arms of an organization and helps the company automate most of its operations. ”
Additionally, ERP can also help with highly advanced technical forecasting.
In the world that we live in today, a lot of data gets generated and garnered on a daily basis. However, making sense of this data and churning out helpful information from it can be a bit of a hassle, especially when it is stored in silos across an organization.
ERP systems compile all the information in systematic formats and store it on a centralized database. Management can have a look at all of this data instantly and even make decisions by applying many analytical operations on that data.
The data as well as the reports can be accessed by all the departments like human resources, sales and marketing, supply chain at the appropriate level of seniority, and are naturally visible to the topmost management as well.
ERP systems provide a smart, scalable solution to the connectivity, coordination and integration woes of many businesses. There’s no need to manually dig up the data and extract information out of it- the software does it for you.
The concept of ERP may just be only a few decades old but the idea behind it originated way back in the 1940’s and 50’s with the invention of MRP or Material requirements planning . With the help of MRP, companies fed the details from the bill of materials for a particular product into a mainframe computer and used the information to send out purchase orders for raw materials.
As more and more companies started adopting this technology, MRP evolved into MRP II or manufacturing resource planning. MRP II was the precursor for the ERP that we use today, as it aimed to use the computer technology to connect various arms of an organization to one another and form a business enterprise.
Eventually, it was the 1990’s when the world first heard about the term ERP, and since then, the concept has undergone massive revolutions, the latest being cloud ERP.
Historically, ERP has been almost exclusively adopted by medium and large sized companies. In recent years, this trend has rapidly changed, thanks to cloud based ERPs that can scale up and down rapidly depending on the requirements.
Cloud ERP software offers a seamless ERP solution to companies who want to save themselves the trouble of setting up an on-site ERP system and manage it round the clock. Thanks to lightning fast internet connectivity across the world, now companies can access the entire ERP software that is stored remotely on the cloud.
All of this comes at a fraction of the cost of setting up an on-site ERP and maintaining it, which has contributed significantly to its popularity.
An enterprise software, or Enterprise Application Software, is defined as a software that plays a pivotal role in storing and maintaining information in a company. It provides features such as seamless payments and billing as well as account keeping.
The workings of an ERP system are quite simplistic in theory. It is a software that unifies a company by storing all of its data in one place. Depending on the seniority of an individual, they can access this information fully or in part, with the help of a sophisticated dashboard and can generate reports from it.
All the departments feed data into the ERP software in predetermined formats. This data is stored in a centralized database where the software performs various analytical functions on it.
If the leadership wants to check the quality of leads provided by the marketing department, they can do so with just a few clicks. If the HR wants to keep a tab on the attrition rate, ERP helps them generate monthly reports for each team.
“ An ERP system is a group of tightly interfaced modules that act in cascading layers to facilitate business processes. ”
The data is sourced from each module and stored at a centralized location, eliminating work duplication and errors completely.
It is also shared with other modules of the ERP and third-party integrated apps to facilitate smooth operations. The users can access all information and projected progress rates from unified dashboards to make quick decisions and troubleshooting.
Let us understand it using an example:
When a customer drops an inquiry for bulk order, the details are synchronized with the production, inventory management, warehousing, and shipping partners to verify the fulfillment capabilities.
It also checks the human resources availability and taxation estimates to calculate the order price. The proforma invoice is generated on the basis of these calculations, and the sales team may forward the data to the prospect accordingly.
If they choose to move ahead, a detailed bifurcation of the activities involved, materials, and human resource requirements are then forwarded to the respective departments through their respective modules.
The entire process is monitored, and necessary adjustments are made to keep the production and dispatch on track with the help of inputs generated by the ERP system. This data (progress reports) may also be made available to the sales team if required by the business model.
The modules are purchased as per the organizational needs and business models to streamline all processes through automation in data entry, computation, analytics, and generating preemptive insights.
Generally, ERP systems are implemented when an organization’s growth starts exceeding its managerial staff’s capability to coordinate and execute day-to-day tasks. The uses of all ERP modules as a collective can be summarized in the below list:
- Information collection from multiple touchpoints through manual data entry, peripheral software, and integrated hardware devices.
- Automate workflows to delegate responsibilities for executing various processes in a coordinated manner.
- Real-time monitoring of various processes as well as external dependencies.
- Generate progress reports and suggest contingency planning strategies in case of deviations.
- Help evaluate the loss of efficiency at each phase and in building an effective framework to minimize them.
- Implement governance, risk management, and compliance (GRC) through all modules used in the form of guidelines for various tasks of the operating model.
In the absence of an ERP suite, it becomes extremely difficult to coordinate the functions of different departments, and the overall efficiency starts dropping below unsustainable levels. This is due to the fact that reporting work and verifying it manually on a large scale consumes a lot of time while also leaving ample room for human error.
The trouble amplifies when a business operates from multiple locations and ultimately leads to a situation where there is little to no visibility of how the operations are being carried out. This can cause huge potential damages to the firm, both financial and strategic, which can ultimately cause existential threats.
An ERP solution is used to unify coordination of all processes, automate workflow management, expedite data flow within the organization through gated access and reduce work reporting to bare minimum levels. It gives the user a comprehensive overview of the operations and ensures that all stakeholders of the organization work in close coordination with each other to achieve common goals and objectives in a timely manner.
Types of ERP
The classification of ERP suites is done mainly on the basis of their architecture. The type of ERP implemented plays a major role in organizational success and optimized the business processes. Let us have a look at them below:
On-Premise ERPs, also known as legacy/monolithic ERPs, are installed in the organization’s hardware present at their facilities. This requires the user to install all required hardware devices and look after their operating conditions as well. This also includes having an in-house IT team that looks after its maintenance and minor troubleshooting.
In case of an update or major issue, the organization needs to wait for the vendor’s team to arrive at their facility and make the system start functioning again, which derails their day-to-day activities.
Cloud-based ERP s use the software as a service architecture model where all the data storage and processing power is installed at a single location for every client organization under a multi-tenant architecture. This requires state-of-the-art security provisions since the data is stored outside the client premises, and it may contain business secrets and intellectual properties.
The cloud-based ERP solutions are comparatively more affordable as they can be used at multiple locations under a single license. Also, the updates are rolled out on the server-side, and it is reflected on the ERP users’ systems instantly. The maintenance and troubleshooting are also carried out at the vendor’s end, making the process simple, less time-consuming, and cost-effective for both parties involved.
Hybrid ERPs are becoming increasingly popular as they help address data security concerns of cloud-based ERP solutions. Here, the confidential data is stored on the servers present on the server, and the rest of the datasets are synchronized with the cloud servers.
The architecture is thus distributed between the two infrastructures, but the users can control and manage the Hybrid ERP centrally.
Each ERP system comes with built-in modules, and additional modules are available to add on. Many ERP solutions offer a wide range of sophisticated, tailored modules as per the requirements of their clients.
In this section, we will have a look at different ERP modules that pull off the business process by working in synergy with each other:
This module covers both in-stock and pipeline inventory, their details like current location, consumption rate, lead times, vendor details, the ideal storage period for maintaining fitness for consumption, and interoperability details.
The warehousing and shipping management module allows the user to visualize all items stored and available space. It also helps in coordinating the inward and outward movement of inventory. The warehouse in charge is also provided with auto-generated reports for order picking, packaging, and clerical forms required.
The PPC module fetches data from all other modules to establish production capacity for the plant and the human resources to give production schedule estimates. It also coordinates the processes undertaken by various departments, helps identify and eliminate any bottlenecks to ensure smooth operations.
This module helps manage production processes, and some of its major functions include facilitating periodic maintenance, ensuring the availability of the consumables, coordinating production processes as per designed order and working conditions, and implementing quality control.
This module covers purchase, inward shipping, along with all accounting and compliance functions. This module aids in eliminating errors caused due to inaccurate data and proves to be extremely useful for organizations operating from more than one location. They can process payroll, reimbursements and manage benefits administration from their central facility. Finances are also managed from the central office as well.
As the name indicates, this module is used to coordinate sales and marketing activities and provide feedback to the production and QA departments regarding the demand and product quality.
The HRM module generates the data required by the payroll and employee benefits system and provides the organization with comprehensive insights regarding their employees, including performance, traveling history, and punctuality which can be useful for multiple purposes like internal job placements.
Top Benefits of ERP
One of the important advantages of ERP systems lies in boosting the efficiency of your business. Using ERP software, you will be able to eradicate repetitive tasks and processes. Also, it reduces the need for manual tasks. The ERP software can streamline business processes and make the whole data collection work efficient and more manageable for every department.
To have up-to-date information about your business instantly is the need of the hour. Every business needs a system that helps in streamlined flow of business data and easy information access for all organization departments. With the best ERP system, you will get real-time information to help you make better decisions for your business. It will also ensure that all the information and data you receive are up-to-date and to the point. Use of ERP in business helps to get real-time data that keeps your business stay on the front-line in the competitive market.
Total visibility is the best advantage of ERP that is considered the most significant selling point for various software. With the correct use of ERP software, you can have complete visibility and accessibility to your business’s necessary process. Each person can access all the data in the department without much effort.
You can understand it more easily by taking this example – you can regularly monitor inventory levels that cover the future consignments that are not yet received and the inventories in transit. Knowing this information, you will be able to control the overall working capital accurately.
ERP system and its benefits are helping businesses to strive hard and keep their firm place in the giant competitive world. ERP software provides users and managers with tools and resources that are needed for creating proper forecasting . When the businesses receive correct information within ERP, they will make more realistic estimations and effective forecasts.
The importance of ERP lies in increasing the overall productivity of your business. ERP software is capable of eradicating repetitive tasks, manual entries, and possibilities of errors. It helps streamline all your business processes and enhance efforts by following the ERP software implementation. It will help you save time and focus on other business operations and processes wherever is the scope of enhancement.
Have you ever thought, why do we use ERP? The answer is simple: it is software that acts as a central hub for the essential information required for your business and departments for managing daily operations.
ERP software helps keep all the information under one location, avoiding all the issues with data spread on diverse databases. With these flexibilities that ERP Software offers, you can easily integrate different platforms with your ERP software, which will help keep your data consistent, unique, and accurate.
The other name of enterprise resource planning is efficiency and productivity. Having a robust ERP system integrated with your business workflow process makes it much easier to have real-time insights into all your business aspects. Knowing all of the business information, you can opt for taking a right and required decision-based on stats metrics. All these will help in increasing the efficiency and more faster turnaround time important for keeping the competitive advantage.
Every business owner keeps a strict eye on their finance area and tries to avoid making any mistake that will cost them high and wreck their business. You have to be very smart with your spendings and should know every detail of it.
The role of the ERP system in saving the cost of your business is huge as it will guide you to spend smartly and save your money. Having the correct source of information in a real-time scenario, ERP software helps lessen admin and operational costs. This way, you can spend the money on other much-needed areas of your business. Hence, we can say, saving cost is one of the top benefits of ERP.
Enterprise resource planning systems come with customer relationship management applications with financials, sales, and front-office functions. The function of CRM in ERP is an essential part of staying competitive in your business area. The crucial thing that helps in the survival of your business is retaining customers, which offers huge profits. The best CRM app in your ERP system results in better communication with your customers and enhancing relationships faster, accurate access to all customers’ information and history.
ERP offers reliable data that you can access for multiple locations if you had implemented it in the cloud and also through various devices like smartphones and tablets. Apart from updating data in real-time, ERP software helps to upgrade data consistency and accuracy. Having all this information, users can make complete surety on the data and analytics, like whether they are safe to use or not, avoiding all the risk of any errors. ERP software has enhanced security features that entirely eradicate all the risk of getting the business information into the wrong hands.
ERP Implementation Steps
Once a company decides the type of ERP they wish to implement, they can follow the following stepwise guide to ensure a seamless implementation.
First up, you’re going to need a team of highly efficient go-getters who will stop at nothing to implement the system within the stipulated time. Once you’ve rounded up your best, you must empower them with the necessary tools and resources to make their jobs simpler.
Usually, an ERP task force will have the following resources:
- A project lead
- Data Analyst(s)
- QA engineer(s)
Apart from these, make sure that you have representatives from all the departments regularly checking all the updates, since the software is going to be used across the organization.
ERP implementation can often be a slightly tardy process at times. Sensitize your organization about the possible system downtimes and other snags that may occur once the implementation begins.
It’s also advisable to put in place alternative mechanisms in case of a prolonged breakdown, so that the company doesn’t have to suffer massively. Planning the releases during the least productive hours can be a great way to mitigate such risks.
As the thumb rule goes, the total budget allocation for implementing ERP should be roughly 1% of your annual revenue. This however varies when you take into account various factors like size of your company, functionalities and modules in the software, type of deployment model, etc.
Your organization must have collected heaps of data prior to implementation of ERP. All of this data has to be fed into the system but in a certain format. For this, you may need to tweak and rearrange your data and prime it for migration into the new software.
An analyst would be a great fit for this role, as they can quickly visualize raw data and fine tune it to suit the requirements of the ERP system.
Before getting started on the ERP, your employees will require a thorough understanding of the system and its functionalities. For this, you can design a week-long training program that guides the users through the software and explains all of its components.
You can conduct these training sessions online where people can take them from their desks, or you can conduct group training sessions in a conference room with the help of a trainer.
Since ERP softwares are often massive and consist of multiple modules, many companies plan phase wise testing and roll-outs. However, if you’re not building the software from scratch and have paid for a third party ERP product, you’re likely to get your hands on the entire software in one go.
Another good practice to follow is to go for a beta test before the final roll-out. Simply gather around the key members from every department and give them a demo of the software before you roll it out for the entire organization. They must have a keen sense of observation and imagination, and should be able to identify any issues that their department may face.
Once the beta tests have been concluded, have faith in the software you’ve built by toiling for months, and send out that email informing all the employees about the roll-out.
Once you’ve spent a considerable amount of time on the new system, you should check your performance against the benchmarks like productivity, efficiency, profitability, carbon footprints reduction, etc. This will help you determine if you’re achieving what you had aimed to achieve by implementing the software.
If the results are positive, you have made a good call. And if they’re negative, an ERP software worth its salt will help you zero in on the issues that you can fix.
Upon successfully implementing an ERP software, a support team should be set up that helps the employees in case they find themselves getting stuck while operating it. Additionally, the support team should also be able to fix any bugs that are reported by the users.
As a whole, ERP implementation is a gigantic process. However, it gets much simpler once you break it down into smaller, action packed steps.
Types of ERP Deployment Models
On-site ERP deployment means that the company buys the software and installs it on servers that are present on their premises. Hence, the company owns both- the servers as well as the software.
Here, a company builds their own ERP software from scratch or licenses it from a vendor. However, they do not install any servers on their premises, and rent server space from a third party service provider. So while the company owns the software, the software is installed on a remote server that the company has rented by paying a monthly or annual fee.
Cloud ERP is a type of ERP solution that the company neither owns nor hosts on their premise. They simply pay a recurring fee for using the service while the vendor owns the software as well as the servers.
Artificial Intelligence (AI) is a technology which is simulating human intelligence. It is like machine learning or natural language processing under which technology is learning from data and knowledge to understand human voice commands. You might be familiar with this technology on the smartphone when you call out Siri or Alexa.
However, AI now has wider scope and implications for the manufacturing industry and, more specifically, ERPs as well. AI technology is built directly into the ERP systems from which you can learn and then assist them in automating routine processes and building enhanced user experience.
With the use of AI-enabled ERP systems, you can expedite the adoption of chatbots for responding to all of the customers’ queries and comments. This provides special attention to customer service so that they will be able to see what are the queries of customers in real-time. The virtual assistants are present to answer all the questions of customers.
Although ERP started out as a tool that was adopted mostly by large companies, it has slowly evolved into an extremely flexible and scalable business software for companies of all sizes and shapes.
Today, small and medium sized businesses around the world continue to implement ERP across their organization and reap enormous rewards. ERP helps small businesses transition towards much more efficient, lean and profitable operations .
Here are some of the primary reasons why small businesses are increasingly choosing to implement ERP systems.
If you’re heading a small company and get thrown off reading exorbitant ERP implementation costs, you should take a closer look. Many large companies need a range of functionalities in their ERP software that smaller ones simply don’t. Hence, the costs for implementing ERP across a small business differs from that of implementing ERP in much larger organizations.
Here are a few factors that play an important role in determining the cost of ERP implementation:
- Number of active users
- Server space and bandwidth
- Number of integrations like CRM & HRMS
ERP Integration: Strategies and Benefits
ERP integration refers to the process of integrating ERP software with other systems like the CRM (Customer Relationship Management) and HRMS (Human Resource Management System). By doing so, companies ensure that no system operates as a stand alone and that the information is transferred across the organization and across the softwares seamlessly.
This innovative approach has become a huge hit among companies of all sizes. Vendors today offer systems that are highly compatible with a range of other applications and can be integrated seamlessly with one another.
This gives companies the freedom to choose the best individual softwares, connect them to one another and build an ERP ecosystem of their own, one that’s tailored to meet their requirements.
All Data in one place
One of the biggest challenges of running a business effectively is unifying the data collected across various departments and streamlining it into useful information. This isn’t possible unless a centralized database is created that stores all the information in one single place.
ERP helps businesses achieve this by creating an accessible database for storing all the data that are fed into the system by various departments such as sales and marketing, purchasing , supply chain, accounting, etc.
Automating helps businesses use their resources wisely. When you automate the processes that require very little human intervention, you free up a lot of manpower that you can then utilize for other tasks that are difficult to automate.
Tasks such as data entry, creating invoices and purchase orders, sending confirmations via emails and SMSs, etc. can be easily automated by using appropriate triggers in the ERP system.
Doing this greatly improves the efficiency of your workforce and helps you run your business in a lean manner.
Increased Operational Efficiency
The end goal of deploying any software across an organization is to improve its efficiency. ERP systems have been known to deliver just this, along with so much more.
When you successfully implement an ERP software, you notice a significant decrease in failures due to human errors. This directly translates into a sharp increase in operational efficiency and gives you an advantage over your competitors.
Manufacturers and industry owners are looking for innovative technologies and AI to give them a competitive edge. Machine learning, as well as intelligent manufacturing, are assisting manufacturers in enhancing overall business efficiency. Understanding this scenario through an example is regarding quality checks and maintenance.
Let’ see some of the leveraging points of AI’s work in ERP
Broader insights into your data
Under the provided data set, like the enormous data sets found in an ERP, the patterns and correlations present are not visible to the human eye. With artificial intelligence, small and midsize businesses can know the trends and then make proper inferences regarding the particular operations that permit correct forecasting and apprised decision-making.
Robotize daily routine processes
When humans perform some task in the ERP system, they follow some predefined rules that command all the actions and processes. All such behavioral tasks are expressed in mathematical terms and are programmed into the software. These apply to the set of rules for a particular data set and quickly make more informed and intelligent decisions. It helps manage the daily routine work like accounts, payroll administration, more effortless with just a click on the button.
Enhances user experience via communication
The software prioritizes the search results based on the history of users’ communication. AI elements of artificial intelligence are responsible for making intelligent decisions based on human inputs that turn to make the app fast and more useful for every individual user. Huffman has given the example of information searching in the NetSuite and continuous communication with some defined set of record types like customer data and product catalog data.
Smart data processing
ERP systems offer access to enormous data. These are not capable of processing the actual data which is available to the company. AI-powered ERP systems make use of data from diverse modules for undertaking responsive measures with less human involvement. Also, it performs ominous analysis and offers complete clarity in the decision-making process.
Boosting process efficiency
ERP systems assist in automating all the back-office processes by lessening the requirement of manual data entry . Also, it will eradicate the peoples’ need to perform computational tasks, canceling the chances of false calculations and their unwanted outcomes. ERP systems assist all businesses in reducing the necessity for human resources for handling the daily tasks that will save a massive amount of time.
Difference Between ERP Vs. CRM
When it comes to CRMs and ERPs, a lot of people use these terms interchangeably, but they have completely different applications despite a few overlapping areas. Simply put, CRMs focus more on the customer end operations while the ERPs lean towards the core business activities and their financial aspects.
A CRM software helps manage customer service interactions from a unified platform and automates client servicing workflows. It is designed to assist your sales in scheduling and monitoring marketing activities, lead acquisition and qualification, lead warming, follow-ups, and closure.
They also allow sharing documents. A CRM tool helps your customer service representatives in tracking and executing service requests. All communication channels, including telephone, email, chat, and video calls, are covered under a central dashboard.
An ERP solution consists of a group of tightly knit modules that help facilitate operations in different departments like inventory and warehousing, PPC, production, accounts and finance , HR, and supply chain management.
These modules store their data on a centralized server to eliminate work duplication and inaccuracies. Each of these modules helps an organization to synchronize the efforts made by various departments and work towards achieving a common goal.
Generally, smaller businesses use accounting solutions like Tally, but as they grow in size and their headcount starts increasing rapidly, they switch to ERPs to create a robust system for managing their resources, operations, and decision making.
ERP solutions can have a dedicated module for client relationship management as well, and you can also integrate the CRM of your choice.
Unlike ERPs, CRMs cannot store and retrieve transactional data like historical sales figures or generate future sales trends. This makes ERP software solutions more complex, and their learning curve is also significantly higher.
CRMs use the Software-as-a-Service (SaaS) model, while the ERP solutions may use either SaaS or hybrid architecture as the legacy solutions phase-out.
The short answer is both. Any growing organization will require using both of these solutions as they cater to their two fundamental needs: manage existing business and bring new business.
A CRM helps simplify all client-facing interactions, and the ERP ensures that your operations run smoothly. However, you may go for a single platform to further ease the operations.
ERP systems cost a fortune, and thus, the businesses that deal in high volumes with decent bottom lines may prefer going with the ERP first.
On the other hand, a business with a large number of customers with small ticket sizes and frequent transactions may find it more sensible to go for a CRM first.
Supply chain management (SCM) is one of the key operational areas of a company. By implementing an ERP to their supply chain management, companies can increase their productivity, improve the quality of their products and bring down their costs substantially.
Supply chain management deals with activities such as procurement of raw materials, ensuring that the production takes place consistently as per the requirements, maintaining the machinery, etc. All of these activities require a lot of resources and are critical to the success of the organization.
Integrating ERP with SCM, companies can automate many of their SCM activities. Automation helps them reduce human errors and also frees up a lot of human resources that can be deployed elsewhere.
Here are some of the advantages of integrating ERP with supply chain management of your organization:
- Automates your redundant tasks.
- Reduces human error.
- Allows you to maneuver your resources smartly.
- Helps reduce wastage.
- Brings down the production and operation costs.
- Enables you to produce high quality products.
- Helps you manage the data efficiently.
- Boosts your brand by improving the customer experience.
- Removes the silos between various departments and truly integrates your SCM with the rest of the organization.
- Makes your operations a lot more flexible and scalable.
- Enables you to take timely and precise decisions by running an analysis on your data and creating regular reports.
A lot goes into implementing an ERP software across an organization. Months of toil, a range of resources and quite a lot of funds.
However, the process isn’t full-proof and at times is prone to errors that result in a partial or a complete failure in implementing ERP.
Here are some of the reasons that lead to ERP implementation failures.
Reasons for ERP Implementation Failure
Resource allocation and timely dispensation is one of the key factors that contribute to the success of ERP implementation. Make sure that you plan comprehensively for all kinds of contingencies and have the required resources available all the time.
While implementing ERP, it’s always a good idea to have someone on the team who knows what they’re doing. If nobody from the team has been a part of an ERP implementation team previously, you can always hire external consultants who can guide you through the entire process.
Success of the voyage depends on the captain more than the crew. Sure, the crew does most of the work but to no avail if the captain steers the ship into an iceberg. Make sure that the ERP team is led by a project manager who is not just skilled, but also level headed and committed to the project.
“ An experienced project manager with an inexperienced team is any day better than an inexperienced project manager with a stellar team. ”
How to Avoid ERP Implementation Failure?
There are multiple things that a company can do to ensure that the ERP implementation is successfully carried out.
While putting together a team for ERP implementation, make sure you select the right candidates for each role. Keep in mind that this is perhaps the most important project for your company’s survival and growth, and create a team of your best henchmen.
A software of such great importance across the company can not be implemented without keeping all the stakeholders constantly. The team should consist of senior representatives from all the departments and they should be in unison about the actions as well as the goals.
One of the biggest advantages of automation is that it significantly reduces human error. Manually migrating your database can often lead to a lot of inaccuracy.
However, you can easily automate your data transfer once you’ve set the parameters of migration. This will save up a lot of time and make your database a lot more efficient.
We can’t stress this enough! If there is one road to a successful ERP implementation, it’s through rigorous testing.
Test your modules for a variety of scenarios and in different environments. Keep track of all the bugs and crashes and fix them on the go. Even after implementing the ERP, ask the users to provide you the feedback and keep fixing the bugs that they encounter.
It’s only by exhaustive testing that you can make your ERP implementation near perfect.
Best Practices in ERP
No matter the size of your business, implementing ERP in your business is crucial. ERP implementation will help your business to streamline diverse processes. It will act as an individual source of truth that will enable the best report and the best decision making and enhanced collaboration overall in your business area.
All these practices will incorporate all the stages of ERP implementation, i.e., from introducing all the requirements to the training and offering support. Implementing ERP will ensure that you meet your business objectives, reduce the risk of delays, cost overruns, and allow all the employees to utilize the system efficiently. Also, by following ERP data conversion best practices, there remains no fear of missing any goals or deadline and budget.
Here are some best practices in ERP implementation
Building a solid project team is the first and foremost step while implementing ERP in your business. Usually, the ERP implementation team has an executive sponsor, a project manager, and spokespeople of different business groups in the project. An executive sponsor is responsible for adjusting all the business priorities and arranging additional resources as per the requirement for achieving success.
On the other hand, the team’s responsibility involves setting top-level goals, needs, KPIs (Key Performance Indicators), directing daily project activities, making complete surety on the project completion date and budget, and measuring results.
Choosing the suitable methodology for your ERP implementation is an essential step. There are currently two utterly diverse implementation methodologies: the first one is the traditional method, and the second one is the turnkey method. Understanding both ways is essential to decide which one is suitable for your business.
The traditional method includes the ERP implementation team working with the vendor consultant for planning, educating the team, designing and configuring, setting up the system, new business processing, managing conference room pilots that are needed to go live, and supporting the go-live.
On the other hand, the turnkey method is more related to the vendor-led. The vendor consultant role is enormous in the planning and constructing the project and setting it up and configuring all things, prototyping the review and education, conferencing room pilots, and training and support activities.
ERP software implementation manages your business processes and systems smoothly. Also, they can handle all the daily activities of the people effortlessly who are using the system. Providing proper training to your employees about using the software will help them satisfy users and acquire huge ROI from the tool.
Data migration to an ERP system is challenging in the implementation process that required complete preparation and proper planning. There is always a risk of data loss when you are consolidating or standardizing data from different apps.
ERP implementation helps in transferring data both ways, i.e., manually or automatically. Whether you are making manual entries or taking automation assistance, it is essential to validate data after migration. It will ensure that the data was transferred into the new system correctly.
List of 5 Best ERP Softwares
ERP software comprises applications’ set for Enterprise Resource Management. The process involves the collection and organization of business data with the help of an integrated software suite.
“Around 95% of companies enhanced their business processes just by implementing ERP software solutions.”
Here’s the list of top 5 ERP Softwares
It is a cloud-based ERP solution specially designed for small to mid-level retailers, manufacturers, wholesalers, and e-commerce operators. Dear Systems is a complete solution covering different modules like purchasing, e-commerce, manufacturing, accounting, inventory management, and sales. With this solution, businesses can integrate DEAR inventory for building, planning, and tracking every stage of the buying process.
Also, the solutions remind all their users to reorder the stock before it gets out of stock. Businesses will keep an eye on all the purchase orders with the reports for pending purchase orders and purchase cost analysis. The manufacturing module can track raw materials and labor costs and build a multilevel bill of subassemblies and materials.
SAP (Systems, Applications, and Products in Data Processing) offers powerful instruments for assisting companies in organizing their logistics, human resources, financials, and diverse business areas. SAP originated in the world 40 years ago and is based in Waldorf, Germany that builds enterprise software for assisting businesses to make their management processes simpler.
SAP’s ERP software offers various standard features that present optional modules for the boosted functionality and copious integrations, and extra add-ons for all industries. SAP’s ERP software allows clients to manage the overall inventory, place supply orders, monitor security, handle warehouses, manage to ship, and more. All these will help your business to become more efficient and well-organized.
Oracle offers a hub of core applications and industry-related apps that can benefit in primary and advanced ways. NetSuite acquired Oracle in 2016, and then an app was originated in the cloud and offers solutions for all sizes of businesses and industries. The most recommended Oracle systems cover Oracle ERP Cloud and Oracle NetSuite.
The ERP software provides credit-to-cash, in-memory financial allocations, finance controlling and reporting, and positions analyzer, expense management, and add-on apps that are useful for any industry area but especially for the financial industry as well as for the public sector.
Microsoft was founded in 1975 in New Mexico, leading computer software and hardware, and provides multiple Windows PC and offline services for different firms and consumers globally. MS dynamics create CRM and various software solutions for the sales and marketing purpose of the business functions like ERP, accounting, and supply chain management.
Microsoft is developing different data centers for supporting the cloud capabilities that cover Dynamics 365 suite. Microsoft Dynamics AX supports all the operational and administrative functions of your businesses that offer diverse management solutions for different divisions.
Netsuite originated in 2007 and created solutions that integrate the clients’ customer relationship management, e-commerce, ERP, and inventory management requirements in an individual platform. It is regarding the contributor to the software-as-a-service ERP software industry. Netsuite ERP comprises functionality behind the traditional accounting software.
The solution gives a complete set of apps to remove expensive integrations and smoothen all types of business processes. Companies use NetSuite’s ERP software to function fast order-to-cash processes, efficient workforce productivity enhancements, and shorter financial close.
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15 Best ERP Software Examples in 2023
- Tom Clayton
- August 2, 2023
Searching for top-notch ERP software to streamline your business processes? You’re in the right place!
Discover the foremost examples of ERP software that are leading the way in enhancing operational efficiency and productivity.
These ERP systems are not just recognized for their superior functionality but also for their user-friendly interfaces and robust features.
Whether it’s about managing finances, human resources, CRM or supply chain, these ERP examples are designed to handle diverse business needs, ensuring your organization runs seamlessly.
1. Microsoft Dynamics 365 – Popular & Flexible ERP Software Example
2. aptean erp, 3. abas erp, 4. oracle netsuite, 5. sap business one, 7. sage 300, 9. acumatica, 10. workday, 12. epicor – enterprise resource planning software example for manufacturing companies, 13. iqms – industry specific erp systems for manufacturing businesses, 14. infor – best industry specific erp system, what are the 3 common types of erp, is quickbooks an erp system, what are the 5 components of erp, what are erp examples, best erp software examples – wrapping up, best erp software examples.
Microsoft Dynamics is a flexible, reliable and powerful ERP system software example that’s used by top brands including Coca Cola, BMW, Adobe and more.
Microsoft Dynamics is different from some of the ERP tools mentioned here because it doesn’t offer a single product. Instead, you get multiple ERP bundles based on what you need with categories such as marketing, sales, customer service , operations, finance and others.
The ERP software has apps for specific categories and flexible use cases. For instance, operations comes bundled with apps for project service automation, supply chain management and business central.
Microsoft Dynamics 365 allows you to pick and select the specific product you want while benefiting from additional licenses and discounts.
Other features you’ll find include predictive analytics for actionable insights and robust reports, third-party integrations with Microsoft apps like Outlook, Word and Sharepoint among others.
You also get mixed reality so you can virtually design physical spaces and remote assistance for collaboration with others, and server authentication for data security.
Also Read : Best System Software & Application Software Examples
Aptean is a popular ERP software example that’s easy to manage and has mobile apps for Android and iOS devices so you can manage and sell goods.
The ERP system offers a wide variety of ERP platforms specific to different industries, and is designed for manufacturers, distributors, and importers to manage consumer goods.
You can use Aptean on desktop platforms like Windows, Mac or Linux, and get a visible way of tracking all aspects of your business in real-time. This way, you can make more informed business decisions.
Aptean also offers on-demand access to financial planning, financial reporting, performance data, profitability analysis and sales. Such data helps you transform your business intelligence processes .
For retailers and manufacturers, Aptean logs and tracks the scheduling process, costing, labor, and sales.
As a fully cloud-based ERP software, your data is regularly backed up. Plus, you can always access some of its features via the mobile application such as product catalogs and sales data .
Check Out : Best Educational Software Examples
While most ERP software is designed for large corporations and enterprises, Abas ERP is designed for small or medium sized businesses.
The web-based ERP system is easy to use and provides features and services that you can access via a modern web browser.
The ERP software helps you with order management , requests, and information on shipment, planning and scheduling, and monitoring of your production processes.
An integrated finance system is included so you can keep an eye on transactions and other fiscal issues.
You’ll also get a handy editor in Abas that allows you to create customizable workflows that you can link to the main ERP tool.
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Oracle NetSuite is another popular customizable ERP example designed to support your enterprise’s growth. As your business scales, you can add resources and functionality, making it a good choice for medium-sized businesses that anticipate growth.
This Oracle ERP cloud accommodates your needs regardless of the business you’re in. Among its powerful features include financial planning, financial reporting and management, order management and production management.
Plus, this Oracle ERP cloud can accommodate other needs including supply chain management, warehouse management and fulfilment. This way, you can manage your inventory and logistics in real-time and maximize efficiency.
Along with these features, Oracle NetSuite also offers native business intelligence tools to help you get analytics from your enterprise data for better actionable business decisions.
The ERP software also allows for automation across the enterprise in the cloud via seamless integrations.
Some of the advantages you’ll enjoy by choosing NetSuite include high flexibility and customization, high level automation, excellent customer support, and robust functionality.
The ERP is also highly scalable, supports multiple languages and currencies, and provides remote accessibility for better team collaboration . Plus, you can use NetSuite with any type or size of business.
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Like Abas, SAP Business One offers an ERP platform with industry specific solutions for small businesses.
This ERP software example helps companies streamline business processes that have outgrown existing tools or have the need to consolidate their current tools into one platform. Thus having the need to have an all-in-one ERP solution for their needs.
You get ERP modules like inventory management, supply chain management, warehouse management, sales, CRM (Customer Relationship Management), financials, analytics and reporting among others, which makes SAP Business One a full-service solution.
The ERP software offers complete control and visibility of your business, and over 500 add-ons so that you can customize your software based on the type of business and industry needs.
You also get intuitive mobile access for Android and iOS devices so you and your team can access the ERP software wherever you’re based.
If you want, you can set up alerts and complete approvals from mobile devices, check inventory, view real-time reports and even manage service tickets.
SAP Business One isn’t easy to set up, but once it’s up and running, it works like a charm. Plus, it provides native business analytics, is GDPR compliant, can be deployed on-premise, cloud and mobile, and offers various extensibility options such as service layer development and app extensions.
The ERP is compatible with major operating systems including Windows, Mac and Linux, and offers a wide range of integrations including Dell Boomi, Hybris Cloud, Outlook and more.
Axolt is a cloud-based ERP solution designed for businesses with complex growth plans and processes in the retail, health, manufacturing and distribution verticals.
The ERP software covers different aspects of your business and is highly customizable with up to date crucial information that helps you with planning and decision making.
You can streamline your supply chain management, organize order and shipping details, manage assets, manufacturing and maintenance using Axolt. You can also implement your finance and HR processes.
Unlike other ERP tools on this list, Axolt’s cloud-based solution increases the ability to use it on the go through mobile devices.
You also get unprecedented levels of availability and uptime, along with ERP solutions that reduce the cost of running business while offering more capabilities and functionality.
Axolt allows you to view the entire supply chain and identify events so you can anticipate issues ahead while developing more efficient processes.
You can also match inventory, skills and resource delivery commitments while addressing service scheduling more efficiently.
The ERP system also provides intelligence capabilities as you can tune your order management process to an organization’s business performance goals and rules.
If you have customer-facing personnel in your team, they can use Axolt to view the customer, back-end inventory and resources for more efficient execution of your transactions. Thus can help you improve customer satisfaction.
Axolt is flexible and can adapt quickly as your essential business functions change. You can also stay in close touch with your employees, customers and suppliers using Axolt’s ERP.
Sage 300 is one of the popular cloud based ERP system examples that’s designed for small and medium sized businesses.
Sage ERP software system is designed to manage financial data as well as streamline inventory management, business operations, human resources and other business processes.
This way, you can improve your company’s total visibility while maximizing your return on investment.
Sage 300 also makes financial management simpler, especially for businesses that manage multiple currencies. Plus, if you have franchises or subsidiaries, you can use it for multiple businesses.
You can benefit from other ERP modules in the Sage product suite such as Customer Relationship Management (CRM) system, Inventory Management system, Payment solutions and Advisor.
On top of that, Sage provides intelligent ERP features for international business operations, ability to track and process orders anywhere and real-time analytics.
You can automate the purchasing, ordering, invoicing, receipt and returns processes, while managing vendor relationships. This saves you lots of resources and time when you’re ordering stock and other materials.
If you find the ERP system too feature-rich and advanced for you, Sage also provides a simpler ERP system called Sage 100.
The Sage 100 is still good for businesses but is more of an advanced accounting software with ERP features and Customer Relationship Management (CRM). Plus, Sage 100 doesn’t work for multiple businesses and international operations.
Syspro is an ERP system designed for manufacturing and distribution. The award-winning ERP software example has over four decades of experience serving small businesses, medium businesses and enterprise businesses. So they know what it takes to be successful in your industry.
The ERP is built with functionality specific to different industries based on the business requirements of distributors and manufacturers. Such industries include food & beverage, packaging, auto parts and accessories, fabricated metals, industrial equipment, machinery, and electronics.
If you want to improve your operational and supply chain management inefficiencies, Syspro ERP is worth considering. You’ll also benefit from its actionable insights and reporting so you can make better business decisions.
You can also customize your ERP software and fully customize your workspace based on your needs and the roles in your company. Therefore, you and your team won’t feel weighed down with screens that you don’t use regularly or irrelevant information.
As you scale your business, Syspro’s flexibility and scalability can grow with you. However, if you’re not in the manufacturing or distribution space, Syspro won’t support your business type.
Acumatica supports growing small and medium businesses with software editions for general business, distribution, manufacturing, construction, commerce, field service and more.
This ERP software example offers industry-specific solutions no matter the type of business you have making it an extremely versatile solution.
Among its ERP modules include business digitalization, which focuses on helping you adopt value-adding technologies and using artificial intelligence to facilitate integrations with other apps.
You also get four-dimensional security management, which handles access controls, levels, auditing and visual monitoring, advanced tech architecture and financial management.
As an award-winning cloud-based software, you can grow your business with Acumatica by adding functionality and capabilities to your business.
You can also add extra users without paying for extra licensing but instead you pay for resources, extensions and app suites to support the integrations you use.
This way, you can build a customized solution that’s suited to your business functions need and only pay more based on your SaaS subscription, perpetual license or private cloud.
Acumatica allows you to personalize workstations, can be deployed in the cloud, offers APIs and services to improve integration, and uses BOT agents to automate redundant steps.
You also get extremely secure servers for data integrity, instant business insights, high scalability, and an AVANTI adaptable interface.
Workday is a cloud-based ERP system designed for mid-sized and large enterprises. The on-demand software is easy and quick to set up and is primarily focused on human capital and financial management.
The business model used with this ERP software involves giving you a subscription that provides access to various services instead of selling the tool altogether.
Among the key ERP modules include business planning, which allows you to plan your finances and workforce comprehensively while becoming adaptable and flexible.
You also get holistic management for your finances, which includes audits and internal controls, accounting, financial planning, inventory management, expenses and more.
Its human capital management feature provides a comprehensive set of functions such as workforce planning, talent and payroll management, recruitment, people experience and compensation.
A built-in analytics module is available that helps you make data driven decisions.
Workday has several benefits that include phone, online and email support. The software is also compatible with iOS and Android devices, offers excellent data security protocols, and an exceptional environment where you and your teammates can collaborate.
Like other ERP solutions listed here, Workday is mobile friendly, offers extensive third-party integrations and has an intuitive yet user-friendly interface.
If you want an ERP system that can automate and connect your project life cycles, Deltek does that and more. The ERP solution is focused on delivering business solutions that fuel your business.
You can manage, develop, deliver and measure all the aspects of your business holistically, and enjoy on-premise and cloud hosting options.
Some of the main ERP modules you’ll find in Deltek include project and portfolio management with enterprise planning and scheduling tools to manage your projects.
You also get access to all your information through one repository. This empowers your team to communicate better and get faster approval and reviews on their projects.
Deltek also offers human capital management like Workday, which helps you hire the right talent for the right position.
A comprehensive solution called Vantage Point for A&E and Consulting is included to help architecture, consulting and engineering firms manage their projects from the initial steps to completion.
Deltek offers three different project ERP solutions: Maconomy, Vision and Cloud. Maconomy is focused on handling your finances, Vision helps you manage resources better, and Cloud offers high scalability and full recovery from any disaster.
The ERP is highly scalable and offers increased ROI for your business. It also has an easy to use and intuitive interface, enhanced compliance with financial and regulatory requirements, and access to real-time information for better departmental collaboration.
Extensive automation processes are also available, alongside Deltek’s native development environment.
You can use Deltek on major operating systems including Windows, Android, and iOS, and get support via phone or online platforms in case you need technical assistance with the ERP.
Epicor is a popular ERP system among manufacturing companies because its built for growth and manufacturing processes. Business and manufacturers use its automation and data insights to help them stay profitable or increase profitability.
The ERP system is highly customizable and flexible, supports a variety of industries including distribution, retail, and manufacturing among others.
You can deploy Epicor on-premises or as a cloud-based ERP and use it for your eCommerce , POS, supply chain and enterprise content management needs. The ERP also provides solutions based on data management, financial management, Customer Relationship Management (CRM), business intelligence and other business needs.
Among its powerful features include a comprehensive Customer Relationship Management (CRM), which you can use to manage leads, customers, contacts and quotations. You can also use its planning and scheduling feature to anticipate and handle demand changes to reduce disruption and downtime.
Epicor also offers human capital management like other ERPs listed here, along with enterprise content management for access, retrieval and storage of your content.
You can use the software to plan and execute multi-level projects, and manage your sales process throughout the sales funnel.
The ERP is IoT-enabled, meaning you can monitor your stores or facilities via data from PLCs or IoT sensors in real-time.
IQMS is a one of the popular industry specific ERP systems for manufacturing businesses. The software offers various ERP implementation & deployment options.
These specific solutions include automotive, medical, aerospace and defense, process-specific BOMs, packaging, and contract manufacturing among others.
There are tons of other ERP modules you can use to optimize and streamline your business operations. This ERP solution is built for end to end business control and key business functions visibility – making it a smart solution for scalability, efficiency and productivity.
IQMS also offers the largest number of ERP modules in the manufacturing industry, so you don’t have to integrate too many third-party tools along with the ERP solution.
Other benefits you get by choosing IQMS include lower inventory costs, quick ROI, compliance management, and on-time deliveries based on demand. You also get to reduce costs related to poor quality, scrap and rejects.
Infor is the best industry specific ERP system trusted by enterprises and small businesses alike. This ERP system has one of the most extensive product catalogs and its tools can help you boost productivity , improve operations and streamline business operations.
You can use it for different industries including fashion, distribution, retail, automotive, government, education, travel and hospitality, and professional services. The list is endless.
Other features you get with Infor include personalized pages, embedded analytics, role-based interfaces, optimized purchasing, agile innovation and warranty tracking among others.
You also get 24/7 access to your cloud based ERP system via mobile devices and exceptional customer support.
Veeqo is an all-in-one, centralized enterprise resource planning (ERP) software designed for businesses in the retail industry.
The comprehensive software automates processes like inventory management, order management and dispatch while allowing you to track orders, inventory and your finances.
You can use Veeqo on the web or via the mobile application, and access multiple integrations that are helpful to your enterprise. For example, if you sell items on Amazon or eBay, you can combine data from these platforms in Veeqo and avoid the hassle of managing separate reports for your stores.
Veeqo also provides shipping integrations, sales channels for syncing your inventory, purchase forecasting, digital picking, user permissions, stock transfer, wholesale support and returns management.
Common Frequently Asked Questions (FAQs)
The three main types of ERP systems are: on-premises ERP, cloud-based ERP, and hybrid ERP .
On-premises ERP systems are installed within the organization’s computers or servers. This allows them to remain full control of their data. Businesses can also customize their on premise ERP system according to their specific needs. On-premises ERP solutions provide great flexibility and scalability.
Cloud-based ERP solutions can be accessed from multiple locations using any device with an internet connection. The data is stored in the central database on the cloud and it’s also backed up regularly. Cloud-based ERP systems are usually more cost effective than on-premise systems.
A hybrid ERP combines multiple, disparate ERP systems into one unified platform. The centralizing of the different ERP systems helps reduce complexity, reduce costs, and improve data accuracy. A hybrid ERP system can be tailored to meet the specific needs of a business by taking components from various existing ERP systems. You can learn more about about hybrid ERP systems here .
No, QuickBooks is not an ERP system. It is a cloud-based accounting software for small businesses that helps manage their finances, including invoicing, payments, tracking expenses, and more.
The 5 components of ERP are:
1. Financial Management : This ERP component helps the organization to manage and track finances, including accounts payable, accounts receivable, payroll processing, taxation, and treasury and cash management.
2. Human Resources Management : This ERP module enables organizations to efficiently manage core HR functions such as recruitment and onboarding, employee benefits, payroll processing, performance reviews and training.
3. Supply Chain Management : This ERP module allows organizations to effectively manage suppliers and vendors, control inventory levels, plan production schedules and forecast demand accurately.
4. Customer Relationship Management (CRM): This ERP module assists companies in managing customer relationships by providing them with tools for tracking sales information, marketing campaigns and customer service inquiries.
5. Business Intelligence : This helps businesses analyze data from all areas of the enterprise to gain real-time insights into operations like sales trends, customer preferences and market conditions.
ERP examples include Oracle, SAP, Microsoft Dynamics AX, NetSuite, Infor CloudSuite, Sage X3, Epicor ERP, Workday Financial Management, and Acumatica.
ERP software can literally run your all your core business processes from one platform.
What was once the sole property of large enterprises, can now be used by SMEs thanks to cloud-based deployment. This way, any business can leverage the benefits of using an ERP system and improve their business functions.
Find out which among above 15 ERP software examples fits your business needs and start seeing the benefits of implementing an enterprise resource planning system in your company.
Tom loves to write on technology, e-commerce & internet marketing. I started my first e-commerce company in college, designing and selling t-shirts for my campus bar crawl using print-on-demand. Having successfully established multiple 6 & 7-figure e-commerce businesses (in women’s fashion and hiking gear), I think I can share a tip or 2 to help you succeed.