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10 Best ERP Software for small and medium enterprises
Enterprise Resource Planning Software (ERP) has become mandatory for businesses of all categories with respect to size. For small and medium enterprises, ERP systems provide a detailed solution for organizing different business aspects like finance, human resources, supply chain, inventory, and customer success management. The correct ERP system can provide a seamless way to manage business operations, improve accuracy, and provide simultaneous data insights for the growth of your business.
Nevertheless, choosing the best Enterprise Resource Planning Software for small and medium-sized enterprises can be tricky due to a challenging and competitive industry, company structures, and business models. In this article, we will look at the 12 best ERP software options for SMEs. We’ll look into their feature, strengths, and other useful insights that can help you make an informed decision.
NetSuite ERP system
NetSuite is a product from Oracle which is one of the most renowned cloud based ERP solutions tailored for providing ERP solutions to businesses of all sizes. This makes it a great choice for expanding businesses.
Its key features include financial management, supply chain management, CRM integration and tailored dashboard solutions. All these services are integrated via cloud-based technology making sure there is smooth access and accuracy as well.
Its cons include a higher cost, and it can be complex for small businesses that have pretty limited needs.
Odoo ERP software
Odoo is an open-source ERP solution providing software that provides a detailed set of tools for applications for SMEs especially. Odoo ERP allows small businesses to choose some specific features they need and add them later on as their needs grow.
Their key features include accounting and finance management, including payroll, tax, and invoicing management.
Inventory management, including real-time tracking of stock levels and delivery management.
Lead management, which offers customer segmentation and sales forecasting, too.
eCommerce Integration that provides seamless integration with eCommerce platforms concerning online business.
Its cons include advanced features that you can only use after paying for them.
Setting them up can be complex for first-time consumers.
SAP Business One ERP Solution
SAP business one is a well-established ERP solution that is made for SMEs. It is known for its detailed feature set, SAP Business One provides the best functionality for finance, supply chain management, sales and customer service.
Its key features include a general ledger, accounts payable/receivable, and financial reporting for finance endeavors.
It also provides real-time tracking for supply chain and inventory management.
Its sales and customer management, analytics/reporting, and mobile-friendly application help provide an all-in-one solution for SMEs.
It can be expensive for small businesses and difficult to manage for first-time users.
Microsoft Dynamics 365 Business Central is the best ERP
Microsoft Dynamics 365 Business Central is a cloud-based ERP that links all aspects of your business like finance, HR, inventory management and customers service in one place. It’s a cloud-based solution that provides expansion solutions and leverage for rapidly expanding SMEs.
Its key features include financial management, supply chain management, sales and service management, artificial intelligence as well.
It brings forth a familiar Microsoft interface for already Microsoft users, a strong association with Microsoft tools and a cloud based access.
Its main downside includes customization, which requires technical supervision for your business needs.
Acumatica small business ERP
Acumatica is a cloud-based ERP system that provides a lot of functionalities to make your business processes as smooth as possible. It helps businesses in business management by using business intelligence features for finance, inventory, project management, etc. Its affordable price makes it a huge plus point for small businesses to use as ERP systems. This ERP system does require linking with small third-party applications for full functionality. There are some features that require additional configuration and expertise.
Zoho ERP systems for small businesses
This ERP system provides cloud-based applications and an ERP system that provides tailored solutions for your sales, finance, and inventory team. It is a prime choice for SMEs due to its affordability and ease of access. It provides supply chain management, inventory management and human resources which makes these erp systems a good fit for businesses of all sizes.
Its main downside includes integration with other Zoho products and limited customization in contrast to different ERP systems in this list.
QuickBooks Supply Chain and Inventory Management
QuickBooks is one of the most widely used ERP solutions existing in the industry right now. It provides tailored inventory and order management for your businesses specific and growing needs. Furthermore, you also have the option of using it with other quick books software’s like accounting and commerce which makes it a preferable choice for many accounting businesses that have priorities for financial management.
Its key features include tracking and managing inventory tools, formulating purchase orders, and assessing stock movements.
However, it does provide limited ERP features as compared to other ERP systems due to its integrations with its own functions. Additionally, it is also not best suited for businesses with complex operational needs.
Sage 50cloud ERP software options
Sage 50cloud is an ERP system that works on a desktop-based cloud functionality, which is ideal for small businesses that especially have problems with their accounting and financial accuracy. It is known for its robust financial records management with the integration of Microsoft Office. It provides accounting and financial management in terms of solving your financial issues related to general ledger, payroll, and financial reporting. It also has a dedicated cash flow management, which helps assess cash flow and organize banking proceedings.
However, it does provide limited functionality for other business processes like Human Resources and supply chain.
Furthermore, you might need a dedicated desktop application for the full functionality.
Xerox business management and solutions for small and medium-sized enterprises
Xero is one of the more commonly known accounting software company that features ERP benefits like accounting, inventory, linking with third party applications, and financial reporting as well.
In terms of accounting, it is best for taxation, payroll, and invoicing.
It provides inventory management by helping track stock levels and managing purchase orders.
More importantly, it can easily integrate with more than 800 third-party accounting software.
Katana enterprise resource planning
Katana is an ERP system specifically made for small businesses in the manufacturing industry. Its one of the more renowned features is its inventory management.
It is an ERP software that not only connects different departments in a company but also is more helpful in terms of material requirements assessment. It is ideal for businesses that are focused on physical inventory.
Its standout features include inventory management tools, outsourced purchase tracking, and task prioritization.
This software makes it easier to do tasks like inventory management, time tracking, etc.
Selecting the right ERP for small businesses
Enterprise Management Software provides excellent functionality for companies that have data transfer issues. This software makes it easy to have all your data safely transferred from one department of your organization to another. If your business deals with data that doesn’t require transferring data from one department to another, then you can opt for accounting software or specialized department software that can deal with inventory management, HR management, logistics, etc.
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