An ERP system can help you streamline your business processes, improve communication and collaboration, and make better data-driven decisions. However, with so many options on the market, it can be overwhelming to choose the right one for your business.
In this post, we’re discussing the top ERP systems for small to mid-sized businesses and breaking down their most salient pros and cons. We'll also provide some tips on how to determine which ERP system is the best fit for your SME.
ERP Solutions Available to More Businesses
The cost of running an ERP system previously prevented many small and mid-sized organizations from integrating these business solutions into their operations. However, the barrier was dropped and companies of all sizes can now stay ahead of the pack with improved efficiencies and streamlined operations offered by ERP.
More specifically, integrating ERP into these types of businesses help optimize operations, reduce costs, save time, gain competitive advantages, and increase overall profitability. ERP solutions improve the data quality available to businesses, therefore increasing their ability to make quick and meaningful decisions.
Analytics tools built into ERP systems can be used to make better-informed decisions. ERP tools also help companies provide services to their customers.
In addition to ERPs, compliance management with SAP.
Evaluating ERPs for Small to Mid-sized Businesses
The ERP market is vast, with over 250 ERP software providers to choose from. However, not all of these solutions are designed to meet the requirements of small to mid-sized businesses.
Here are seven of the best solutions for these types of businesses:
1. SAP Business One/ByDesign
SAP is one of the world’s leaders in business software and ERP solutions, offering several solutions for small and mid-sized businesses. SAP Business ByDesign, or SAP ByD, was created for fast-growing companies looking to streamline operations, boost profit margins, and increase efficiencies, transparency, and productivity.
Small and mid-sized organizations looking to streamline their workflows, increase transparency at every step of production, and improve control over their operations should consider integrating the SAP Business One (SAP B1).
Both SAP ERP solutions can grow as small and mid-market businesses expand.
Striven is an all-in-one ERP and business management suite for small and mid-sized businesses. Striven provides all a business needs for success and covers many industries. Striven is effective in supporting business growth, simplifying operations, and reducing costs.
3. Odoo ERP
Odoo ERP is a fully integrated and customizable open-source ERP solution that allows businesses to access a full suite of ERP solutions as well as a customer relationship management system. Odoo provides operational efficiency by bringing the entire operations of fast-growing small to mid-market businesses under a single-user interface. It is also one of the most affordable ERP software available on the market.
4. Multiview ERP
Multiview is a scalable ERP solution with an easy-to-use, yet powerful financial application. With this industry-leading solution, Multiview ERP helps businesses automate their accounting processes, improves financial management, and provides more access to reliable information for improved decision-making.
5. Sage Intacct
Sage Intacct is an accounting ERP solution. Sage Intacct automates all accounting processes, allowing businesses to improve significantly, ensure compliance, and scale their business without onboarding too many resources. Sage Intacct is designed with deep functionality to help companies to increase operational efficiency, manage IT costs, and gain valuable real-time insights into their financials.
Acumatica is a great software tool for businesses looking for the full functionality of an ERP system. Acumatica is designed with intuitive design and scalability in mind to help businesses grow. Acumatica trumps most other ERP solutions in terms of flexibility, allowing businesses to pay as they use. In addition, the full functionality of Acumatica can be deployed as a full Software-as-a-Service (SaaS), or on a hosted private cloud or on-premises system.
This is a top-tier ERP solution designed to simplify business complexity for growing businesses in the manufacturing and distribution industry. SYSPRO can be deployed in the cloud, on-premises, or through a hybrid model, making it more versatile than most ERPs.
The competitive nature of the small and medium-sized enterprise space can make running a successful business a daunting task. However, ERPs can provide an affordable, easy-to-use, and secure way to manage business processes. With the number of ERPs available, businesses should seek out solutions that best meet their requirements.