What is ERP Software?
ERP software is a collection of applications that use a centralized database to automate and streamline normal company activities while also connecting diverse departments in one place.
More companies are seeking a way to standardize their most important business processes in order to increase efficiency and return on investment (ROI). This is why enterprise resource planning software, is becoming a popular choice among businesses of all sizes.
Consider the following scenario:
- Manufacturing organizations will need to maintain track of their supplier chain and manufacturing process.
- Purchase orders must be tracked, as well as proper order administration, order processing, and warehouse management.
- Sales, marketing, production, and distribution may all be required by large businesses. In any case, businesses of all sizes require an ERP software solution that meets their specific requirements.
Criteria for choosing ERP Software
- User Interface (UI): Is it clean and attractive?
- Usability: Is it easy to learn and master? Does the company offer good tech support, user support, tutorials, and training?
- Features & Functionality:
Accounting Functionality – How well does it integrate or include accounting software and tools?
Inventory & Warehouse Uses – How well does it integrate or include inventory processing tools?
Marketing Tools – How well does it integrate or include marketing features and functions?
Reporting and Analytics – Does it offer customizable, robust reporting, and analytics options to track business performance? Are reports easy to export, design, and share?
- Integrations: Is it easy to connect with other tools? Any pre-built integrations?
- Value for money: How appropriate is the price for the features, capabilities, and use case? Is pricing clear, transparent, and flexible?
- On-Premise vs Cloud ERP: These are the two common deployment options. Is the ERP software cloud-based or delivered as a SaaS? Would you need to work with the software vendors to undergo an ERP implementation and install it on-site?
- Real-time updates: Does the system allow for real-time updates on items like inventory, new purchase orders, or invoice payments? Keeping your software as up-to-the-minute as your business is will allow you to gain efficiency and reduce miscommunication.
When reviewing ERP software for the criteria above, it is critical to consider the specific needs of your business.
List of ERP Software
- Odoo ERP
- SAP ERP
- Microsoft Dynamics 365
- Oracle ERP Cloud
- NetSuite ERP
- Business Cloud Essentials
- Sage Intacct
- FinancialForce ERP
- Sage Business Cloud Enterprise Management
- ePROMIS ERP
- Infor LN
- QuickBooks Desktop Enterprise
- Deltek Costpoint
- MIE Trak Pro
- Orion ERP
- Exact Globe
- Epicor Prophet 21