10 Best ERP Software of 2018
Reviews on the leading Enterprise Resource Planning ERP solutions. Learn how ERP software helps businesses achieve better efficiency and improve performance.
Enterprise resource planning (ERP) is a tool that can tie every aspect of your business’ or organization’s data into one, comprehensive dashboard, by offering integration across its different departments. It incorporates more than just the financial side of the business, including other areas like customer relationship management, supply chain logistics, business intelligence, material resource management (inventory, point of sales, shipping, etc).
The functionality needed for different areas varies according to the type of business. Payroll services for a service organisation, for instance, will be different than one for a hospitality organisation or a construction company. The same holds true for every aspect of a business, and since ERP platforms are modular and provide such a broad range of services, before choosing an ERP tool, it’s important to map out exactly how your company does business.
Once you have a comprehensive idea of exactly which tools you’ll incorporate into the ERP software, and how they should interact, you can begin comparing companies. Important features include the overall usability, navigation, and workflow. When considering the difference in costs between companies, verify if the platform requires physical servers or is cloud-based. Cloud models can offer substantial savings, as they don’t require a lot of hardware, the initial setup fee is small or nonexistent, and licensing costs are generally assessed at a specific amount per user per month.
Most ERP vendors strongly suggest you purchase their software by adding a third-party, value-added partner to manage the purchase, initial deployment, and configuration. They’ll write custom code to connect modules when necessary, make sure the right features are turned off or locked down, and handle all aspects of maintenance, employee training, and troubleshooting. With this third-party partner, make sure that you actually need them to set up your software, and ask them for an accurate estimate.
Top 10 Companies
- On-premise, Hosted or Cloud-based
- Available in more than 30 languages
- Modular-based implementation
- Tax connect
- Support centers in key regions
- Visual and graph reporting
- Cloud-based, on-premise
- Production/ manufacturing management
- Advanced Analytics
- Job scheduling
- Business intelligence
- Easy to use, friendly interface
- Mobile phone apps
- Point of Sales (POS)
- E-commerce and Social Media integration
- Payroll management
- Time sheets
- Flexible solutions
- Wide selection of business applications
- Advanced business analytics
- Business intelligence reports
- Good core finance features
- Available for a wide range of industries/ services
- Global support services
- Mobile devices
- Business analytics
- Great financial features
- Customizable menus
- Multiple databases
- Multi-language, multi-currency
- Mobile device access
- Timesheet management
- Automated accounting and invoicing
- Advanced analytics
- Project management
- Detailed budgets
- US sales tax processing
- Built-in customer care
- Access anywhere, anytime
How We Compare ERP Software
Features and Services35%
These are the must-have features of any Enterprise Resource Planning ERP software.
- Accounting features – keeping all your books accurate and up to date is an essential task for any business, big or small. At the very least these should have payroll integration, account receivables/ payables, general ledger and audit features. Specific-industry ERP software for example provide additional accounting features to complement basic accounting tools.
- Human Resource Management – this feature incorporates many HR functions to help human resource personnel perform various tasks in a more automated manner. Services include workforce management, hiring, training and benefits management.
- Customer Relationship Management – CRM features helps businesses keep close tabs on their customers. It does not only let them store customer profiles but also lets them understand spending habits. This information lets business create better marketing and sales campaigns while improving customer experience.
- Business Intelligence - this term refers to how ERP software analyzes gathered information. ERP software helps formulate reports which can lead to better business decisions.
- Inventory Management – standard features include systems for tracking inventory levels and asset management. This avoids overstocking which could lead to product depreciation. Inventory management keeps your business more efficient by helping you match supply with customer demand.
- Manufacturing Management – one of the least known features but one of the key reasons for the development of Enterprise Resource Management. This is an area where successful ERP software excel. It brings ERP to another level by letting businesses handle its manufacturing processes giving them better control over resources and production.
How flexible is the ERP software in terms of interoperability with your existing business processes and software. ERP comes with its own accounting or CRM features which could come in conflict with existing systems. At the very least it should be compatible with popular office software. Major downtimes may result to financial loses or lost business opportunities.
- Integration – compatibility with existing office software and systems
- Platforms (On premise, cloud-based) – deployment options for easier integration into business systems
Enterprise Resource Planning software was designed to handle the many business processes involved with running large businesses. The best ERP software are not only able to provide the basic ERP features and services but also complex enough to handle different industry needs. However, industry specific ERP software are available for businesses searching for more tailored solutions.
The quality of your Enterprise Resource Planning solution goes beyond the initial purchase and installation. The best Enterprise Resource Planning software also provides excellent support long after the purchase. Aftermarket support, system experts and training are trademarks of a solid ERP software provider.