Most mid-sized businesses are migrating their data to the cloud. One of the allures of cloud-based platforms is strong security, which helps protect data integrity. Moreover, when data is stored in the cloud, it is easy to retrieve information whenever and from wherever needed.
Enterprise resource planning (ERP) systems-–many of which are cloud-based—manage the activities necessary to run a business, particularly those activities related to resource and process management (such as manufacturing, marketing, accounting, and inventory).
So, how do you narrow down your search when there are multiple products on the market? The secret lies in conducting research and analyzing your business needs.
We have reviewed the best cloud-based ERPs suitable for medium-sized businesses–let's take a closer look at ERPs and what they have to offer.
What Is an ERP, and What Is it Used for?
An ERP solution goes a long way in simplifying your processes. It provides a centralized location for tracking progress toward business goals and flags fluctuations along the way.
Considerations When Choosing an ERP Solution for Medium-Sized Business
If you're researching ERP systems for ecommerce, it may be the first time you are considering the use of an ERP system or, perhaps, you're looking to switch to a different provider. Whatever the case, there's no better time than the present to make a move.
Here are a few questions to guide you when evaluating the different ERP solutions available for your medium-sized businesses:
- What long-term and short-term goals warrant implementing an ERP solution?
- Will an ERP solution integrate seamlessly with your existing IT infrastructure?
- Do you need any extra add-ons, or will a basic ERP solution be enough?
- What resources do you have available to support an ERP implementation?
- Is the chosen ERP scalable?
Top ERP Solutions to Consider for Your Medium-Sized Business
Now that you've defined the problem, it's time to search for an ERP solution that will work best for your needs. Here are a few that are worth considering:
SAP Business One: Best Budget ERP for Medium-Sized Businesses
SAP offers one of the most affordable cloud-based ERPs for medium-sized businesses. One of the advantages of SAP ERP is its scalability, but add-ons can quickly inflate the cost based on the number of end-users.
Your best bet is to get in touch with an SAP representative to get a quote based on your specific organizational needs–be sure to read SAP business design for a medium-sized business to educate yourself further on the topic.
Acumatica ERP: Best Cloud ERP Overall for Medium-Sized Businesses
Acumatica starts at $12,000 annually. This price includes unlimited licensing, customer relationship management and distribution models that come as part of the basic subscription package. Acumatica is 100% based in the cloud and easily integrates with other third-party applications.
Acumatica also offers a different pricing model than its competitors. Its prices vary depending on the number of features selected rather than the number of end-users.
Sage 300: Best ERP for Growing Mid-Sized Businesses
Sage's cloud ERP is best suited for businesses already in the growth phase or those looking to grow exponentially in the near future. It's important to note that Sage ERP lacks a payroll system, so you should consider looking elsewhere if that's one of the features you need as part of your ERP platform. Sage’s pricing starts at $75 per month, approximately twice the cost of the Acumatica offering.
Data entry may be a bit tedious when getting the system up and running, but overall, Sage is easy-to-use and support is available for all modules, with a lot of helpful information if you run into a roadblock as your business needs grow.
NetSuite: Best Overall ERP
There’s a good reason why Oracle was voted the leading integrated cloud business ERP provider for many years in a row. Its ERP is well designed, and most people feel the cost is well justified when considering the features of the system.
Netsuite also offers a wide range of cloud solutions, so you're likely to find a package that suits your unique business needs. Some of its features include customer relationship management, payroll, and inventory.
There are many cloud ERP solutions for medium-sized businesses on the market, not just those mentioned above. Carefully analyzing your business situation can help ensure that you identify an ERP that best meets your company. Creating a budget and sticking to it can also help narrow down the search.
Interested in learning more about how ERP systems are used in retail? Check out our latest article.