Having an ERP software is paramount for many SMEs as it provides a multitude of benefits, including saving costs, improving efficiency, and integrating systems etc. However, the ERP software market is huge, with multiple vendors out there, and that number is growing as we speak. As such, with so many options available, how do SMEs select the best ones? To address this, below is a list of 5 ERP softwares that in our opinion, we feel is the best for SMEs to adopt.
Epicor is an ERP software that provides SMEs with better visibility into the supply chain and global business means. Plus, Epicor offers various functionalities, including inventory control, accounting, pre-production materials planning and manufacturing execution. So, SMEs can opt for this system to build a more data-driven firm. Also, it improves quality and compliance, as well as raise productivity & collaboration
Odoo is a well-known, reliable and fully packaged management solution that is built on an open-source framework. It features modules for accounting, project management, human resources and manufacturing etc. As an extended ERP, it also integrates with its e-commerce, POS, and sales, thus providing SMEs with a robust centralized platform. Furthermore, being an open-source platform, Odoo is a rich source of compatible apps to get more functionalities. With a clear user adoption strategy, SMEs can replace or integrate their systems around the Odoo’s ERP software.
Deltek is a cloud-based and project-based solution for professional services firms that unify resource management, project management, time management, and project accounting all in one platform. This helps the firms to manage all their financial aspects including budgeting, AP, AR, and revenue. Deltek Vision is also useful for SMEs in market research, architecture & engineering, and management & IT consulting. Also, this solution also offers mobile applications and tablet-friendly interfaces.
Netsuite is a reliable brand that is engineered to scale to SMEs. As a central hub for key business processes, the ERP system integrates platforms such as inventory management, order management, billing, and managing your financial records including tracking and controlling expenses. Furthermore, SMEs can keep a close tab on their inventory processes from procurement to payment. To add on, Netsuite has the ability to implement a seamless approval and pre-set process from sales quote to invoicing, thus allowing SMEs to operate efficiently. Finally, Netsuite also provides an Human Capital Management add-on module to help SMEs evaluate staff productivity and evaluate how to better improve performance.
1) SAP Business 1
SAP Business One is an ERP solution that is created specifically for SMEs. This solution has the ability to help SMEs integrate and automate their financial, human resources and operations for enhanced efficiency and visibility by unifying every function across the company. The SAP Business 1 supports human resources management, financials, CRM, inventory in-depth analytics, and compliance management, and many other functions on one platform. Moreover, SAP Business 1 also provides mobile access and cloud tools that allow for flexibility for people on the go, as well as reduces erroneous errors and data inconsistencies. Simultaneously, secure user permissions and approval settings assure protect confidential data from unauthorized access. All in all, this makes SAP Business 1 to arguably be the best, or one of the best ERP software in the market.
At the end of the day, buying the right ERP software is one of the most complex tasks to take on. Almost half of the ERP implementations fail at the first time even after investing time and money on it. So, if to avoid this issue, SMEs are advised to try out the high-quality ERP softwares specified above in our opinion and pick the one that best suits their needs.