Many enterprises around the world are now incorporating Enterprise Resource Planning (ERP) solutions into their systems to streamline their day-to-day business processes and customer relations. The increasing uptake of ERP systems has led to a rise in ERP vendors in the market, so it may be difficult to determine which vendor suits your business when searching for small-scale industrial ERP software.
You must start by evaluating ERP vendors for small to medium business enterprises to get an idea of what to expect from each of the options available. This article evaluates the current ERP vendors in the market to help you make an informed choice.
What Is an ERP System?
An Enterprise Resource Planning system is a type of program designed to help you manage multiple business operations in your organization. This business integration technology allows you to manage your business processes in real-time, so that you can make critical business decisions without delay. It’s a suite of integrated applications and products designed to make your business operations easier, faster, and more convenient.
An ERP system can be either cloud-based or on-premises. It will continuously update you on the core areas of your business, including accounting, finance, budgeting, inventory, sales, supply chains, and customer relations, helping you stay up-to-date. An ERP system also creates a single point of reference for different departments across your enterprise, allowing different teams and individuals to share and access data from multiple sources without obstacles.
While there are numerous ERP vendors in the market, the two main vendors of this technology are SAP Software and Oracle ERP Cloud. Although these two options are similar in many ways, they have several differences that you must be aware of when you decide whether to implement a SAP small business software or an Oracle ERP Cloud system. First, you should compare Oracle ERP Cloud to SAP Business One solution before you make a choice–here is a comparison of the two main ERP vendors:
SAP Business One
SAP Business One is an integrated business management system (ERP) that helps small and medium-sized businesses manage and streamline their daily operations. This software was developed in 2002 by SAP SE, a German software company, to automate important business functions in finance, supply chains, and human resources. This system increases control over your company by allowing you to streamline key business processes, get better insight into your small business, and make critical decisions based on the real-time data shared.
With SAP Business One software, you can improve the productivity of your personnel as everyone across the company has access to the same data and receives real-time insights to help them make informed business decisions. It brings all your financials, CRMs, analytics, inventories, reports, sales, and functions together, making it easier for you to run your systems more conveniently and efficiently.
You can swiftly improve your margins, minimize errors, and enhance your profitability by making the right business decisions, and SAP Business One allows you to oversee the entire sales process and your client life cycles more efficiently. It makes it easier for you to enhance purchasing practices and regulate costs by giving you full control over the order-to-pay cycle. Your employees are also empowered to make smart and confident decisions without delay because they have access to real-time analytics and reports; this review is also important when you’re searching for a SAP small business solution.
Oracle ERP Cloud
Oracle ERP Cloud is a type of software designed by Oracle to help enterprises and organizations manage their daily operations. This suite allows you to streamline your accounting, project management, budgeting, reporting, procurement, risk management, and supply chain management operations.
Compared with SAP Business One, Oracle's ERP Cloud solution is best suited for larger enterprises in multifaceted industries like chemical, dairy, logistics, pharmaceuticals, jewelry, manufacturing, and packaging. SAP Business One, on the other hand, is best suited for SMEs. Even though SAP is more customizable than the Oracle ERP Cloud, it does require more of a time commitment.