With the expansion of technology, businesses have already jumped on the wagon and acquired the tech for achieving proficiency. An Enterprise Resource Planning (ERP) system is one such tech that organizations and businesses are depending upon for increasing efficiency in their processes.
What Does an ERP Do?
An ERP system is responsible for helping organizations in managing and executing daily activities including:
- Project management
- Compliance management
- Procurement and supply chain management
- Finance and accounting management
It allows for centralizing the information, ensuring that the data is communicated seamlessly between the bound processes. Not only does it help reduce data redundancy but it avoids duplication and reduces the time taken for acquiring and processing information.
However, for this to accomplish, companies need to ensure that the ERP system they’re using is well-equipped and easy to integrate. In addition, it also needs a reliable and consistent internet connection so that it keeps entities connected.
If you’re running an ERP system at your place, choose a fiber internet as it promises great speed with consistent connectivity required to run an ERP system effectively.
Top ERP Systems in the Market
It’s quite difficult when it comes to choosing the right kind of ERP system for your business. You need to consider multiple factors including the pricing. Not all businesses have ample budget to afford high-end ERP systems. But if you’re looking, to begin with, here are the top 5 choices in the market that you can check out:
NetSuite
NetSuite by Oracle is one of the top-rated ERP systems in the market and is popular for its wide application in different industries including computing, IT, etc. Initially, it focused on just improving financial processes; however, now it comes with several integrations such as HR, inventory management, automation management, and more.
The interface is user-friendly and comes with customizable options, making it easier to use and integrate with existing systems. Plus, you can also generate reports and use them for website building as needed.
But of course, you’ll need to put adequate time into learning the system, which is somewhat of a hassle. Overall, it’s a great choice when you’re looking for an ERP system to begin with.
SAP/ 4HANA Cloud
Amongst the top-ranking ERP systems, SAP/ 4HANA Cloud is another name that shares the spotlight. One of the best things about this system is that it works efficiently when it comes to running critical operations in real-time.
Remote access is phenomenal and it allows users to acquire, access, interpret and use data remotely without any hassle. Moreover, it can be deployed fully, partially, or in a hybrid model as required by the organization.
Data reporting and processing are easy and responsive, and integration with existing applications is seamless as well. However, users require a good amount of dedicated training to familiarize themselves with the system. The cost is also high compared to other choices in the market.
Acumatica
If you’re looking for an ERP system on a budget with the liberty of adding more users, then Acumatica is the right choice for you. The amazing thing about this system is that it comes with industry editions that you can easily choose as needed.
Moreover, you get several modules, expanding from customer management to field service management that are customizable as required. It also features numerous modules in the cloud domain from cross-browser support to role-based security integration.
Another element that helps it stand out is the xRP, which helps businesses integrate with its services irrespective of the business’s size, location, industry, or other factors. You get a streamlined web interface and AI with machine learning capabilities that will help boost the overall performance of your business with it.
Wrike
If you’re looking for a small business ERP system, then Wrike is your pick. With features focusing on several business domains, including finance and supply chain, you get a cost-effective system that ensures efficiency across all platforms of your business.
In addition, you can expand further on the modules, customizing tracking as required by adding sub-modules. Plus, it keeps a tab on daily task executions, which is great for monitoring employee performance.
You also have a built-in capacity for resource allocation, making it easier to fully utilize available resources at your disposal. When it comes to learning and familiarizing yourself with the system, Wrike makes it easier since the interface is quite user-friendly.
Also, the plans start at nominal rates, and with so many customizable options, it’s worth the choice for a small business ERP system.
QuickBooks
Well-suited for cost accounting, GAAP inventory management, etc. Intuit QuickBooks is a popular ERP system that you can choose from. The software comes with an easy-to-use interface, which is why it’s mostly adopted by various industries since it takes little to no time for its implementation.
Apart from this, it comes with a user-friendly product tour that can be used for training needs and a guidebook for the users. It’s a game-changing device with enhanced safety features that any small to medium business can count on.
You also get phone applications and secure cloud storage as well as easily accessible accurate reports from its dashboard. If you’re dealing with large data sets, then QuickBooks is your right choice for an ERP.
Closing Thoughts
With the abovementioned choices, you can now easily choose the right ERP system for your business, and boost its performance by manifolds! So, what’s the delay? Check out the features of the choices mentioned and pick one for business proficiency today!
