The term ERP means Enterprise Resource Planning. ERP systems take organizational aspects of the business to the highest level. They allow companies to control accounting and HR operations, source the required materials, manage the warehouse, forecast business outcomes, handle customer base, etc. Such systems are highly scalable and adjustable to the needs of companies of various sizes, their purposes, and industries. The challenge that an entrepreneur might face here is the variety of solutions to choose from. This article will tell you about the 10 most used and popular ERP solutions to make your choice easier.
Most Popular ERP Solutions
Before choosing a resource planning system, it’s important to learn about the advantages and disadvantages of ERP products and create a list of the ERP features required for your business needs. The market offers both one-size-fits-all solutions and field-specific products. Labeling one or another system as “the best” or “the most convenient” won’t be rational. The efficiency of each resource planning software depends on the purpose of your business, the covered industry as well as financial and technical resources you. In this list, we describe ERP solutions based on their popularity, industry coverage, and feature set.
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1. Oracle ERP Cloud
Oracle Corporation is one of the earliest providers of cloud-based ERP solutions for healthcare, higher education, retail, manufacturing, and, notably, financial services. It provides users with multi-purpose solutions, so both actively-growing and mature companies use Oracle ERP for organizing business processes. The company offers a suite of numerous applications for:
- Accounting;
- Project management;
- Procurement;
- Business performance measurement.
Know more about Oracle ERP Cloud
2. Microsoft Dynamics 365 ERP
Dynamics 365 ERP is a part of the Microsoft business management tools line that aims at meeting the requirements of medium-sized corporations and subdivisions of large enterprises. This system covers fintech, retail, state sector, manufacturing, and service industry. Microsoft included five main packages to its product:
- AX – designed for helping entrepreneurs run their business across the globe and comply with all regulatory measures in a specific location;
- GP – made for connecting processes within the company, following market changes, and adapting the company’s resources to these changes;
- NAV – created for accomplishing industry-specific processes;
- SL – designed for project management and business analysis as well as task automation across the company’s departments and local branches;
- C5 – developed for meeting the needs of companies in financial, distribution, analytical, and e-commerce management.
Know more about Microsoft Dynamics 365
3. SAP Business ByDesign
The German company SAP SE created this SaaS solution to meet the requirements of small and medium-sized companies. SAP Business ByDesign covers manufacturing industry and distribution services. Its built-in business intelligence tools, e-learning, and support features make the system easy to learn and use. This ERP solution consists of the following modules:
- Accounting and asset control;
- Customer relationship management;
- Supplier relationship system;
- Supply chain assistance;
- Human resources management;
- Business analysis tools;
- Support and compliance assistance, etc.
Know more about SAP Business ByDesign
4. Infor M3
Infor M3 was created for medium-sized and global enterprises operating in distribution, fashion, food and beverage, chemical, general manufacturing, rental, equipment dealership industries, and related fields. The system works in eight areas:
- Financial management;
- Human resources;
- Manufacturing management;
- Inventory assistance;
- Purchasing management;
- Quality control;
- Sales and after-sales operations;
- Product technology.
5. Odoo
Odoo is a system that includes both open-source and proprietary licenses. Its Community package serves the business needs of small and mid-sized organizations and can be supplemented with advanced paid features of the Enterprise package. The system’s modules comprise:
- Billing and accounting tools;
- Customer relationship system;
- Website builder;
- Inventory boards;
- Manufacturing operations;
- HR management;
- Sales and marketing boards, etc.
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6. ERPNext
ERPNext is an open-source system with a whole range of resource planning features, except for a supply chain management panel. It’s widely used by industrial and manufacturing companies, distribution organizations, and service industries. The system also contains some domain-specific modules such as:
- Student information system for educational institutions;
- Hospital management module for healthcare companies;
- Agricultural service system;
- Non-profit organization modules.
7. Workday
For almost 15 years, Workday Inc. has been providing cloud ERP solutions for financial monitoring, human resources management, and business planning. It’s primarily used by the accounting, IT, and HR departments of medium and large enterprises. Workday deals with:
- Financial management;
- Human capital management;
- Order management;
- Purchase order management;
- Inventory management;
- Project management;
- Reports and analytics.
8. Epicor ERP
The Epicor system has a full range of financial, analytical, human resources, supplier and customer relationship solutions presented in many similar resource planning systems. However, it stands out from other types of ERP solutions by offering additional features such as:
- Enterprise content management;
- Global business management system;
- Epicor ICE (Internet Component Environment) architecture.
9. Dolibarr
Containing hundreds of modules for business resource planning, the Dolibarr ERP meets the demands of small and mid-sized companies and freelance specialists. The range of features covered by Dolibarr extends to:
- Customer relationship system;
- Human resources;
- Order management;
- Purchase order assistant;
- Project management;
- Advanced business analysis;
- Warehouse management.
10. Openbravo
The Openbravo ERP encompasses all common business planning functions primarily for retail and restaurant industries. Over the years, this system has also entered sports, fashion, home electronics, furniture, beauty, and personal care markets. Considering the fields covered, Openbravo offers the following functionalities:
- Point of sale systems;
- Order management;
- Client base management;
- Store operations;
- Demand predicting system;
- Merchandising;
- Logistics handling;
- Business analysis tools, and more.
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Conclusion
The ERP market is full of solutions for companies of any size and purpose, so the purpose of this review is to make the choice of ERP easier. The modern era of advanced technologies prompts resource planning system vendors to add more and more helpful features, including AI and ML solutions. More sophisticated systems would be a good choice for mature enterprises. Meanwhile, startups and mid-sized companies prefer to use open-source, easy-to-implement, and configurable ERPs because of lower cost and opportunities for scaling.
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