ERP Software: As a business, you want to invest in the most satisfactory solution that meets the needs of your industry and is manageable. There are various factors to consider when choosing which ERP is best for you and your company. It is important to do the necessary research first on different products and vendors. This article provides a humorous take on selecting an ERP solution for your company.
What is ERP software?
Enterprise resource planning (ERP) is a category of business-management software—typically a suite of integrated applications—that an organization can use to collect, store, manage, and interpret data from various departments of the organization. The ERP system integrates the key areas of the business, like purchases, sales, manufacturing, human resources, services, inventory, etc., and improves the business processes and flow of information across the organization.
Here’s the list of the best 7 ERP software programs most used and recommended by users, according to our research:
#1: NetSuite ERP
NetSuite ERP adapts to the healthcare landscape to simplify complex processes, reduce costs, and improve visibility across locations. It allows hospitals, among others, to proactively react to constant regulatory changes, advances in life sciences, and increasing competition from commercially driven health providers. You get to configure role-based dashboards to process real-time KPIs and surface insights for timely decisions.
It also enhances compliance with internal controls and audit trails. You also get a 360-degree view of customers and partners through the integrated CRM module. Aside from CRM, other major integrated solutions include unified global business management, budgeting and forecasting, and financials and accounting.
Key benefits of NetSuite ERP
- Supports large transaction volumes.
- Through a SaaS subscription model, uninterrupted service is provided.
- Enables faster order delivery and enhanced customer satisfaction by streamlining the fulfillment process.
- Using Magento’s multi-store retailing functionality, targets have been placed on micro-sites to reach more customers.
#2: Tech Cloud ERP
Tech Cloud ERP Software Solutions analyzes your business individually before coming up with an efficient offer to meet the best needs of your business. We provide customized ERP software solutions in a cloud and web-based environment, which is our strongest value proposition.
Tech Cloud ERP consists of various building blocks, which enable businesses to choose modules according to their exact needs and integrate all of their key processes into a single solution. Tech Cloud ERP modules fully address the functions of any company; our modules include CRM and Sales Management, Inventory, HR Management, Product Management, etc.
Key benefits of tech cloud ERP
Provides the Best Quality Customer Services: The Tech Cloud ERP Software System provides high-quality customer services in India and Saudi Arabia. As one gains access to marketing automation, customer coordination becomes faster and more comfortable.
Total Information at One Place: Using Tech Cloud ERP, store all your important company information in a single location. By integrating CRM, POS, and eCommerce with the ERP system for more effective results. Arrange all your customers’ orders and your inventory in one place.
Easy Collaboration: An organization can function properly when all departments have proper coordination amongst themselves. Our cloud-based ERP software becomes a centralized and consistent feature with the data entered into it.
Helps managers create accurate forecasts: ERP software is crucial for an organization because it is one of the essential tools for managers to use to create accurate forecasts. With the help of our customized ERP software in India, manufacturing industries can make realistic estimates and more useful projections.
Company’s efficiency The Tech Cloud ERP solution eliminates repetitive business processes and reduces the need to enter information manually. The system establishes smooth business processes and helps company officials collect data efficiently, no matter what department they’re working in.
#3: Oracle ERP Cloud
Oracle, an ERP vendor, has a suite of enterprise solutions that adapt to healthcare industry needs. Among others, the suite helps organizations comply with new regulations, manage patient transactions better, standardize the process, contextualize data, and leverage mobile technologies. The vendor has a portfolio of major healthcare clients such as Adventist Health, Family Health, Presbyterian Medical Services, and Southern New Hampshire Health. The ERP suite is built on a secure and scalable architecture.
Key benefits of Oracle ERP
The dynamic nature of this product makes it a great option for small and medium enterprises. IT provides the kind of features that were beyond the imagination of a conventional ERP user. The enhanced features, like DaaS, make this product even more attractive. I also love the alert functionality!
The best feature of the ERP cloud is that storage is very easy, and in departments like project management, multiple people can access and simultaneously work on the data. Also, the interface is user-friendly, and there was a lot of support from the Oracle team during the implementation phase.
#4: Sage 100 ERP
Sage 100 offers the following benefits to ERP companies in general, which also apply to hospitals and healthcare organizations: better reporting and shorter monthly and yearly close cycles; simplified payroll and cash flow management; streamlined accounting with automated processes; standardized processes across departments; and business intelligence that surfaces insights from your data.
#5: SAP ERP
SAP helps you deliver personalized care by developing a patient-centric healthcare ecosystem that allows care providers to digest patient information in real-time. The modules include patient administration, billing, and care delivery. Likewise, it also features care collaboration via its Patient Engagement and Patient Relationship Management modules. The insights you can generate from consolidated data at a personal level can be adapted across patient care stages, from prevention through diagnosis and treatment.
Key Benefits of SAP ERP
- Cloud deployment
- Integrated business intelligence
- Quick deployment
- Intelligent technology, including machine learning and predictive analytics
- Native integration with line-of-business solutions from SAP
- You can export orders from the Magento eCommerce platform to SAP.
- Import inventory, catalogs, and promotion pricing into Magento.
Microsoft Dynamics ERP is enterprise resource planning (ERP) software primarily geared toward midsize organizations as well as subsidiaries and divisions of larger organizations. Its applications are part of Microsoft Dynamics, a line of business management software that Microsoft owns and develops.
Key Benefits of Microsoft Dynamics ERP
- Automates your warehouse processes, which in turn reduces operational costs.
- Creates budget plan worksheet templates
- Prepares demand forecasting
- Enhance the list of functionality with payroll analytics and other human resource updates.
- Enhances data management
- Builds campaigns and engages customers through social media platforms
#7: Epicor ERP
Epicor ERP was created for ambitious manufacturers looking to keep up with technological advancements and entrust data to a system that will evolve with it. The platform masters combining enterprise resource planning with industry highlights and achievements, which makes it pretty much the only ERP tool utilizing IoT, big data analytics, and 3D design automation in the service of your success.
You can use it to enhance visibility across your entire supply chain, boost profitability with custom business intelligence, and respond to market changes quickly and decisively. The platform’s sales management capabilities will also be of great use to develop profitable products, minimize risks, and promote accountability with little to no investment.
Key benefits of Epicor ERP
- Epicor ERP supports emerging technologies and integrates big data, the Internet of Things (IoT), mobile, social, and 3D design automation for you to make fully informed business decisions.
- It enables you to respond to challenges quickly and decisively by pricing products accurately and achieving maximal profitability and customer satisfaction.
- It offers a fully equipped business intelligence dashboard and a variety of methods for increasing bottom line and profit margins.
- Epicor ERP gives you a clear overview of market opportunities as well as the chance to reach out to new audiences, expand product lines, and improve the position of your business both in the industry and in your country.
Key Criteria for Choosing the Best ERP Software for Your Business
Here are the key things to check for when choosing the best software for your business.
Consider the learning curve involved. Is it user-friendly? What would be the amount of training involved? Modern and up-to-date ERP solutions come with responsive user interfaces and can easily integrate with most business tools, such as Microsoft programs and Google.
The system should be scalable to your business goals. While most of the sophisticated enterprise-scale software will be too bulky and expensive, the ‘freemium’ software (small, basic packages) will be too difficult to scale as your business grows. It is important to select an ERP solution with the features that best align with your business objectives.
However, highly customized systems will generate a higher cost, so think before you customize them. Design the workflow and ask the vendors to run demos based on your requirements. It is important to see how a particular ERP system will function within your business.
Cloud on-premise platform
Traditionally, on-premise systems required expensive licensing costs and large initial investments. Now, with the emergence of a cloud ERP solution, an affordable ‘pay-per-transaction’ pricing model is available to smaller businesses and start-ups. This minimizes the risk of you purchasing a solution that is too powerful for your needs.
For some companies, it may be necessary to have the solution in-house and installed on an internal server, while others may prefer a web-based solution that is more mobile and can be accessed through tablets and mobile devices. Determine which option best suits your business objectives.
Be aware of the support guarantee regarding mandatory upgrades. Unless you are purchasing additional components for your software, make sure enhancement fees are locked in and don’t increase with developments and future releases. Also, consider the ease of upgrading; a cloud platform may provide faster and automatic updates, while an on-premise update may involve more work.
Ensure that the security of your data is as much a priority to the vendor as it is to you. Be aware of how to manage authorization roles in the system to prevent data hacks. Make sure your passwords are strong and securely encrypted. Ask the vendor what security measures are used for integrating third-party products.
Quality and Consistent Support Service
Find out how much support the vendor offers and whether there are any additional costs for comprehensive support. The vendor should also have plenty of personnel to assist with the setup and maintenance of your ERP software.
Also, software buyouts and partnerships are now very common. Protect yourself against a situation in which the supplier management changes, and make sure they guarantee support for a certain extent of time on currently implemented products.
The goal here is to maximize your ROI. The costs involved in purchasing software can be complex. Sales reps are known to downplay the costs and risks involved. Be clear on what the costs for the software, implementation, maintenance, customization, training, support, hardware, and updates will entail. Also, it is beneficial to approximate what these costs will be for the next 5–10 years.
The best way to evaluate software is to use it yourself. You can take a close look at different modules and decide which would be suitable for your organization. So if the vendor provides a free demo and a free trial, that would be the best option to review the software.
Over to you!
Once you understand what you are after and what your business processes are, you can do the necessary research and ask more targeted questions about the ERP software you want.