Enterprise resource planning (ERP) systems are becoming increasingly popular due to the many benefits they offer businesses. However, there are a variety of ERP systems on the market, and it can be difficult to decide which one is right for your company.
What Is an ERP?
The term “ERP” refers to a type of business software that helps companies manage their core business processes, including accounting, human resources, inventory management, customer relationship management, and supply chain management. These systems are designed to provide a centralized view of an organization's data and processes, and they can be deployed either on-premises or in the cloud. They offer several benefits to businesses, including:
- Improved decision-making: With a centralized view of an organization's data, businesses can make more informed decisions about their operations.
- Greater efficiency: ERP systems can automate and streamline business processes, leading to increased efficiency and productivity.
- Improved customer service: ERP systems can help businesses manage their customer relationships more effectively, leading to improved customer satisfaction.
- Reduced costs: By automating and streamlining business processes, ERP systems can help businesses save money on labor and other costs.
The Four Most Common ERP Systems Used Today
With so many ERP systems on the market today, it’s a good idea to know which ones are the most popular and why.
SAP Cloud ERP
SAP Cloud ERP refers to a suite of enterprise resource planning solutions delivered through the cloud, offering businesses the flexibility, scalability, and innovation required to thrive in today’s dynamic environment. These solutions are designed to integrate and streamline core business processes such as finance, procurement, sales, human resources, and supply chain management—all within a single digital platform.
SAP offers multiple cloud ERP options, including SAP S/4HANA Cloud (public and private editions), SAP Business One, and SAP Business ByDesign, making it possible for organizations of various sizes and industries to find a solution tailored to their needs.
If you're a growing business seeking efficiency, automation, and visibility across your operations, SAP Cloud ERP offers a powerful path forward. As with any ERP initiative, it’s important to understand how to ensure successful ERP implementation in a growing business before embarking on the project.
Pros:
- Comprehensive suite of ERP capabilities and apps spanning all key business functions
- Rapid deployment and continuous innovation through regular cloud updates
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Global-ready, with numerous localizations and compliance features built in
Cons:
- May be over-engineered for businesses with simple needs
Oracle NetSuite
With more than 32,000 customers in 217 countries, NetSuite is another popular choice when it comes to ERP. It offers financial, order, inventory, warehouse, and supply chain management as part of its ERP service.
Pros:
- Highly scalable, so it can grow with your business
- Supports multiple currencies
- Offers helpful visual analytics
Cons
- Complex to set up
Acumatica
Like SAP Cloud ERP, Acumatica is a cloud-based ERP tool that provides a wide range of modules such as:
- Financial management
- Warehouse management
- Order management
- Customer relationship management
- Payroll
- Project accounting
- Inventory management
- Service management
What's more, the tool offers personalized, role-based dashboards for different members of your organization. For example, your sales team lead might have a dashboard that focuses on the sales pipeline and customer data, while your warehouse team lead might have a dashboard that highlights information on inventory levels and shipping schedules.
Pros:
- Offers a wide range of modules
- Offers personalized, role-based dashboards
- Is highly customizable
Cons:
- No traditional free trial
Microsoft Dynamics 365
Developed by Microsoft, Dynamics 365 is another cloud-based ERP system. What makes this platform different is that it can be easily integrated with other Microsoft products such as MS Project Server. In addition, Microsoft is known for its excellent customer support, which can be helpful if you're new to ERP or have any questions about using its system.
Pros:
- Cloud-based
- Developed by a highly credible company
- Uses AI and machine learning to provide excellent insights into your business
Cons:
- Pricing is at the higher end of the scale
How to Choose the Best ERP for You
There is no one-size-fits-all answer to this question. The best ERP system for your business will depend on several factors, including the size of your business, your budget, and your specific needs.
If you're a growth-minded business looking for a complete ERP solution, then SAP Cloud ERP might be a good fit.
Ultimately, the best way to figure out which ERP system is right for you is to talk to an ERP consultant who can help you assess your specific needs and recommend a solution that's a good fit for your business.
Call one of our experienced ERP consultants at (801) 642-0123 or write to us at info@nbs-us.com today!
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