ERP systems are regarded as integrated and complete systems that help manage different aspects of the product-based distribution business, which align with human resources, financial management, distribution, manufacturing, and supply chain management. You are sure to find transparency in the complete business process by monitoring different aspects of financials, distribution, and production.
Such expansive popular ERP systems function as the hub for the data’s end-to-end workflow. ERP systems are recognized as an application that is useful in interpreting, analyzing, and executing the everyday core activities of different departments in the business. As you opt for a specific business management solution, the business enterprise will handle different business processes via a single system.
The popular ERP systems allow data to flow from one module to another. Thus, they are useful for long-term planning and running daily operations more efficiently. The market is filled with a wide assortment of online ERP systems. In this article, we will discuss the different ERP systems available on the market:
Top 6 Popular ERP
1. Oracle Netsuite ERP
Oracle Netsuite ERP is recognized as the enterprise resource planning platform and is equipped with a robust financial management solution. This popular ERP system is believed to be the number one choice for companies, manufacturers, and mid-size businesses looking for advanced features to facilitate business growth. It is effective in streamlining different systems, such as financial and accounting management. It provides the optimum choice for the business to monitor financial data. Moreover, it plays an integral role in automating different essential accounting functions. It is one of the popular ERP systems which provides billing, planning, and reporting features. It includes the full product suite, which provides a suitable opportunity for the different systems and departments of the business enterprise to operate in real-time. Moreover, this software provides support for over 190 currencies.
2. SAP S/4HANA Cloud
It is considered to be a popular ERP system, catering to the user’s needs. It provides an excellent opportunity for potential users to execute different mission-critical operations from any place, anywhere, in real-time. This next-generation integrated software is an excellent choice for businesses of different sizes that need broad and deep functionality. It is meant to offer a digital core for the business enterprise. It helps drive business innovation after connecting business networks, devices, and people in real-time. Thus, it helps support the latest business model development. Moreover, it plays an integral role in accelerating the connection and adoption of Big Data and the Internet of Things. Thus, it conducts a thorough analysis of the big data at enhanced speed. In addition, SAP ERP system provides a suitable opportunity for the potential user to seek access to the information in real-time.
3. Sage Intacct
It is regarded as a cloud-based accounting and financial management software provider that is believed to be the perfect choice for startups and mid-scale accounting firms. It is one of the most popular ERP systems offering operational insights and financial reporting. Moreover, it provides the capability to automate crucial financial processes. It is useful for managing different core financials. Furthermore, it offers professional services for the implementation of the Sage Intacc software.
This ERP system offers an array of core accounting applications, like accounts receivable, accounts payable, general ledger, order management, and cash management, to the financial team and accounting department. Moreover, it provides prerequisite support for the functionality of real-time reporting, built-in dashboards, project accounting, expense management, and global consolidation.
Read also: What is Sage ERP Pricing? Review, Features & Cost
4. Microsoft Dynamics 365 Business Central
It is another worth mentioning name among the top popular ERP systems, which is believed to be a comprehensive business management solution that is beneficial for startups and mid-scale companies to connect the operations, services, sales, and financial teams with a user-friendly and single application. Microsoft Dynamics 365 helps accelerate adoption and deployment through step-by-step onboarding guidance, interoperability with the Microsoft 365 apps, and contextual intelligence. It is useful for the cloud in the optimization of digital business processes. You can make the right use of this knowledge to unlock different insights, which are essential to working smart, adapting quickly, and ensuring improved performance.
5. Acumatica
Acumatica ERP is recognized as a set of different cloud-based business software apps, like reporting tools, dashboards, centralized security, integrated document management, and customization tools. It happens to be the perfect option for mid-scale businesses, well-established brands, and small businesses. This popular ERP system offers flexible cloud hosting services for private and public clouds, which help keep the data accessible and secure. Such a cloud-based solution provides user-friendliness, security, mobility, and flexibility. Furthermore, it helps decrease IT costs. Also, it is effective in improving collaboration across the business enterprise. It boasts a modular architecture, which provides the flexibility to license the modules you add with growth.
6. IFS
It is regarded as a composable enterprise software app that is known to orchestrate assets, people, and customers to decrease risk, cost, and complexity while planning. Moreover, it helps in optimizing and managing crucial asset availability. Besides this, it is known to strive for operational excellence, thereby boosting workforce productivity. This popular ERP system offers a wide set of service management, ERP, and enterprise asset management capabilities. It is the combination of functional strength and in-depth industry, along with intelligent autonomous capabilities. This product is considered a suitable choice for the distribution and manufacturing of the goods. In addition to maintaining and creating assets, it is beneficial in managing service-focused operations.
Read also: What is IFS Pricing? IFS ERP Pricing & Cost
Top 5 Most Popular ERP Systems for Small Businesses on a Budget
Though small businesses are regarded as crucial economic drivers, they have been hit the majority of the time during the latest pandemic. Choosing the popular ERP software is worth mentioning in this aspect, as you do not need to opt for separate solutions to address different areas, which get enlisted in the specific survey findings. These popular ERP systems play an integral role in managing different functional and operational business areas, like onboarding, hiring, human resources, customer relations, expenses, revenues, regulatory compliance, and resource management, to name a few. Now, we will tell you about the most popular ERP systems for small businesses within an exclusive budget:
Wrike
It happens to be a well-known cloud-based ERP software for startups that is useful to the business in managing the supply chain, finances, and different aspects of operations. It is regarded as a budget-friendly choice for small businesses, looking forward to automating processes and improving efficiency. The wide range of features included in the popular ERP system package plays an integral role in streamlining operations. Moreover, it is useful to the business in monitoring the finances in a singular central location, such as the invoicing of customers, expenses, and income. A wide assortment of businesses opt for this tool to plan and run their daily operations. It involves the scheduling of the jobs, the creation of the work orders, and monitoring the employee’s performance.
Odoo
It refers to the open-source ERP system, which indicates that the business will be able to seek access to the source code and personalize it, catering to its needs. It is one of the worth mentioning popular ERP systems useful to small businesses in saving on different software costs, thereby ensuring a system that accomplishes the unique business requirements.
SAP Business One
This popular ERP system offers a comprehensive solution that helps manage different aspects of the small business, such as inventory management, financial management, manufacturing, sales and purchasing, customer relations management, and project management. You can customize and configure it to meet the needs of different small businesses.
Kechie ERP
This well-known popular ERP system plays an integral role in streamlining different business processes, such as the automation and synchronization of inventory management, customer interaction analysis, sales pipelines, and customer relationship data. It includes flexible configuration tools, which help customize the app to the user’s level.
Tipalti
Tipalti ERP system is effective in monitoring different processing payments, thereby keeping them safe from different tax compliance problems and financial risks. It is useful for automating different payment-related processes.
The Best Open-source ERP Systems to Consider
Let’s check out the leading open-source popular ERP system:
Metasfresh
It happens to be a well-known open-source ERP tool, which is useful in keeping the code fresh. It includes a powerful, intuitive, and interactive ERP package for medium and small businesses, which helps accomplish the business’s needs.
Apache OFBiz
It is developed on a common architecture, which makes it an excellent choice for the customization of the ERP according to the needs. This popular ERP system is meant for large and well-established brands. Moreover, it includes different functionalities, which provide prerequisite support for the internal support development sources. Thus, it is easy to integrate it with different existing business processes and infrastructure.
Tryton
It is a well-known software that is useful for businesses of different sizes. It is equipped with a modular design, which allows the users to use and install the modules. Its online guide material is beneficial for users to get started with different system functionalities.
INOERP
It is another open-source popular ERP system that provides a varied range of different functionalities and features for businesses. This system boasts a common architecture and is meant for small and medium businesses. It provides a built-in content management system, which can be accessed through a desktop laptop or mobile device.
List of the most Popular ERP Systems for Wholesale Businesses
Here, we will talk about the most popular ERP system for the wholesale business:
SAP Business One
It happens to be a cloud-based ERP solution, which is essential for startups and mid-scale businesses, providing a wide range of features that help manage different business processes, such as customer relationship management, supply chain management, and financial management. The inventory management feature of this tool is useful for distributors in monitoring stock levels, thereby ensuring timely inventory replenishment.
Rootstock
This cloud-based popular ERP system is based on the Salesforce platform. It is meant to serve different businesses across different industries. It provides a variety of different inventory management capabilities that help manage different locations, lots, and warehouses. In addition, it is useful to the distributors in maintaining different optimal inventory levels, handling replenishment, monitoring the goods, and reducing carrying costs.
Infor CloudSuite Industrial
It happens to be enterprise resource planning software, which is useful to the distribution and manufacturing businesses in streamlining their operations. Moreover, it helps boost the profitability of the business by improving its efficiency. Such kind of popular ERP system also includes a variety of functionalities and features that help monitor the inventory levels in real-time, handle the inventory across different locations, set up automated replenishment, improve order fulfillment rates, and decrease stock-outs.
ePROMIS ERP
ePromis ERP provides excellent opportunities to synchronize different aspects of the business, share data, decrease costs, boost performance, and enhance profitability. Moreover, it handles the complete spectrum of enterprise functions.
Read also: What is a Distributor Management System?
The Best Financial ERP Systems You Should Work with
In this segment, we will discuss the best financial and popular ERP system you can work with. Check it out!
Multiview Financial Software
It is one of the leading popular ERP systems that comes with user-friendly financial applications for clients, which are useful to businesses of different sizes to improve their financial planning and accounting efforts. Thus, the business enterprise will seek access to the singular point of truth, which offers enhanced visibility across the divisional, regional, and product line silos. The core modules of the ERP are accounts payable, accounts receivable, general ledger, business intelligence, forecasting, budget-casting, and fixed asset management.
Priority
This popular ERP system offers end-to-end, scalable, and flexible ERP solutions to businesses of different sizes. It is equipped with an intuitive user experience and ready-made AI capabilities. The cloud-based ERP system of this tool helps accomplish business needs across different industries. It comes with the financial ERP platform, which provides budget management, business insights, budgeting tools, financial reporting, and cash flow management to potential users.
Workday
It offers cloud-based ERP software to potential clients, which is geared for mid-scale businesses and well-established brands in life sciences, communications, retail, hospitality, manufacturing, nonprofits, and different industries. It includes financial planning capabilities, which are meant for strategic planning, forecasting, revenue planning, budgeting, rolling forecasts, scenario modeling, financial reporting, and variance analysis.
Ramco
It is another popular ERP system that offers financial capabilities that cover different core functions, such as general accounting, fixed assets, payable extensions, receivables, payables, extensions, and different seamless integrations between sales and financials.
The Best Manufacturing ERP Systems That Are Popular in 2023
Now, we will introduce you to the best manufacturing popular ERP system, which has gained immense popularity in 2023:
Epicor Kinetic
It is regarded as the modern enterprise resource planning software, which is useful to manufacturing businesses in streamlining their operations and thereby managing their resources in an efficient manner. It is a highly configurable cloud-based solution that helps meet business needs. Epicor ERP system provides different kinds of features, such as supply chain management, inventory management, production management, customer relationship management, financial management, and business intelligence.
Plex Manufacturing Cloud
This enterprise resource planning solution is considered an excellent choice for businesses. It comes with a set of tools that are useful to manufacturing businesses to improve operational efficiency. Moreover, this popular ERP system is effective in driving innovation and optimizing supply chain management.
StyteLine ERP
It is recognized as a fully featured ERP software that provides quality management solutions, quality control services, advanced planning and scheduling, financial management, product lifecycle management, and project management.
Oracle ERP
A bunch of manufacturing companies are using Oracle ERP system. Some of the exclusive features of this tool include machine learning, integrated supply chain, connected IoT, and business intelligence answers, to name a few.
Read the full article: Best ERP for Manufacturing Business
How to Select the Best ERP System among the various Popular ERP
It is recommended to take the below-mentioned factors into account while choosing a popular ERP system that caters to your needs:
Outlining the objectives
You need to understand exactly where you are standing to look for ERP, as it helps in determining what is necessary for the new system. You should be precisely clear about what you are looking for in the new ERP solution. Moreover, you should create the prerequisite objectives for the system and the project, thereby ensuring that they align with the specific business goals.
Setting the goals
Choosing an ERP solution is a real investment of money and time. Hence, it is important to be clearer on the reasons why you want to use ERP software.
Visualizing the future state
You should take the number of employees, the size, the geographical areas covered, the number of branches, and the revenue growth objectives into account. Moreover, you should take different technologies that impact the industry into account.
Recruiting the executive sponsor
The selection team needs financial resources and manpower to get support for the work. Recruiting an experienced executive sponsor is worth mentioning as it provides support at the highest level for the project. The executive sponsor will assign the project lead, who provides guidance to the selection team and facilitates coordination among different team members.
Choosing the software selection team
Choosing the software selection team plays an integral role in participating in different vision and goal stages. The actual team is composed of different representatives from every functional area that uses the app in its management and implementation.
Popular Construction ERP Systems
Let’s focus on the well-renowned construction and the popular ERP systems:
Here, you can seek information about the best construction ERP systems:
Solidblox
This popular ERP system is necessary to set the construction business on a solid footing. It is considered an excellent choice for real estate business needs.
Epicor
It is a well-known popular ERP system that is useful for the construction industry. Epicor ERP works on both the on-premises system and the cloud. It boasts immense flexibility, and you can set it up according to your business needs.
Vista
This ERP software offers enhanced reliability, scalability, and better configuration. It is useful for synchronizing data across the business organization. It provides a comprehensive software solution, which is useful for the contractors in managing different areas of the operation.
Conclusion
A wide assortment of businesses is adopting ERP technology today as it helps automate routine tasks and workflows. Thus, it is extremely effective in decreasing the errors that are caused by manual practices. Moreover, this popular ERP system helps improve operational visibility and data accuracy. This software is also useful in real-time reporting, performance analysis, faster communication, decision-making, and real-time reporting, which makes it suitable for efficient business management.
