Best ERP Software

September 25, 2020

By Neil Patel

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Historically, ERP (enterprise resource planning) software was used by large corporations and multinational organizations for managing their entire operation from a single platform.

But now these solutions are more accessible than ever before. In addition to enterprises, lots of SMBs have started to leverage these tools over the past several years.

ERP software essentially combines all of your business tools into a centralized console. It encompasses components like accounting, HR, CRM, supply chain management, and more.

By consolidating your business tools into a single ERP solution, it’s much easier to manage. Plus, ERP software gives you tons of extra value from a big-picture point of view, that you normally wouldn’t see from standalone software.

So which ERP software is the best? Find out below.

The Top 5 Options For ERP Software

  1. Infor
  2. AccountMate
  3. Epicor
  4. IFS
  5. Deltek

How to Choose the Best ERP Software For You

In order to find the right ERP software for your business, you need to understand what to look for as you’re shopping around. All ERP systems are not created equally, and there’s not really a “one-size-fits-all” solution.

Rather than blindingly picking a tool, use these feature sets and considerations to narrow down potential options.

Business Processes and Modules

As previously mentioned, ERP software encompasses various types of business processes. These typically come in the form of modules as you’re customizing an ERP solution.

Some of you might only need a handful of these processes, while other businesses could be looking for a dozen. It really depends on your business size, existing tools, and future goals for resource planning.

Examples of modules and processes to keep an eye out for include HRMs, financial management tools, CRM, SCM, inventory management, purchasing and supplier management, sales and marketing tools, and more.

There are even industry-specific processes for things like manufacturing or engineering. These will include crucial functionalities for product planning, production scheduling, bill of materials, shop floor planning, etc.

Make sure the ERP software you’re evaluating has the capacity to handle your needs with modules for these types of functions.

Reporting, Analytics, and Dashboards

The best ERP software on the market today has advanced reporting capabilities. These go above and beyond basic spreadsheets and PDF downloads. Look for a solution that includes real-time data and smart filters.

Some tools might even have agile reporting and ad hoc reporting, so you can quickly adapt to ever-changing needs without interruptions.

You should be able to manage these complex reports and analytics through a simple dashboard. If you can’t figure out the dashboards, you’ll never get the most out of these reports (which renders them useless).

Dashboards should also display KPIs and let you analyze different data with just a few clicks. For example, you might want to compare qualitative vs. quantitative data based on departments or users within your organization.

Integrations

Your ERP software must seamlessly integrate with your existing tools and software.

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