Discover 5 TOP ERP Systems

In this article we will cover the 5 top ERP systems to Purchase and the Importance of Doing Your Research before purchasing any of them.

A Quick Background on ERP Systems

Before presenting this year top ERP systems we will provide a brief overview on ERP systems.

 

What You Need to Know When Evaluating Any ERP Selection

When evaluating any ERP selection, it is important to consider the following:

What are the best ERP systems for small businesses?

Small businesses are often looking to save money and grow as quickly as possible, which leaves them searching for the best ERP system. There are many different types of ERP systems available on the market, each with their own strengths and weaknesses. Some common features of these systems include inventory tracking, project management, manufacturing management, customer relationship management (CRM), and accounting.

What are the needs of a small business?

Small businesses need to be able to do many tasks well to be successful. Key points of what a small business needs are marketing, email management, accounting, website development and more.

How can an ERP system help a small business?

An ERP system is a software designed to manage the scope of a business’s operations. This software can help small businesses in many ways, including managing stock, managing payroll and making employee decisions.

What should be done when evaluating an ERP system?

There are many different aspects to consider when evaluating an ERP system. These include the user interface, the technical features, customization capabilities, scalability and much more.

What are some other considerations when choosing an ERP system for your company?

Choosing the right ERP system for your company can be a daunting task. With so many ERP providers on the market, it’s hard to know what to look for in order to make an informed decision. This is why we have compiled some of the most important considerations when choosing an ERP system below.

How To Choose The Right ERP System For Your Business?

ERP systems can be broadly classified into two categories: cloud-based and on-premise solutions. Cloud-based ERP systems are cheaper and simpler than on-premise solutions, but they also come with a greater risk of data breaches and downtime. On-premise solutions are more expensive and complex, but they provide more security and stability than cloud-based solutions.

The size of your business will also play an important role in determining which ERP solution you should choose. Small businesses usually opt for cloud-based solutions because they are cheaper, easier to maintain, and more cost-effective than on-premise solutions. Large businesses typically choose on-premise solutions because they provide a higher level of security and stability. ERP systems can also be classified by the software programming language used to run them:The most popular ERP systems are integrated with Microsoft SQL, Oracle DB, DB2 DBMS , and SPSS.

TOP ERP Systems In 2022 

Now we are going to present 5 top ERP system companies that provide ERP as a Software Solution those are also the most common ERP systems available in digital market.

5. IFS

Coming in at number five on our list is IFS. This product is great with a strong track record in our top five. The reason it has remained there is because it solves an industry-specific problem and doesn’t try to create things for every customer. Consider IFS for your business if you’re looking for project management, asset management or M&R services.

The reason why it is not our number four is largely because it’s narrowed focus which isn’t necessarily a bad thing, but when we’re looking at a broad, general ranking like this one, there’s other solutions that can provide varied capabilities to meet a number of different clients’ needs. If you’re one of the organizations that fit within that sweet spot of IFS, you might actually put IFS at number one on your list.

Really, it boils down to understanding the pros and cons of the product relative to your needs If it has a good user interface, you’re likely dealing with a sophisticated product that requires a lot of R&D dollars and which is also expanding its network of value-added resellers and implementation partners.. This investment in future growth will guarantee a bright future.

The bad news is that this product can be a little more expensive than some of the competing options out there. We know it may not seem like the most financially-savvy decision at first glance, but IFS often provides higher-value features than its rivals. The main down-side with it is largely where potential customers are less inclined to invest in this technology – if you can make the case for its long-term worth, then it might be a good fit for you!

IFS is a European-based company, and they’re still expanding in Europe. They work to increase their market share in other parts of the world. As far as referenceability and peer networks, IFS doesn’t have as many peers as our top 5 list mentions. With that being said, this is enough for IFS to land at number five.

4. SAP S/4HANA

Coming in number four on SoftSoftware list’s is SAP S/4HANA. Successive releases of S/4HANA have been brining SAP closer to the level of maturity that seemed distant for a few years.

When it comes to finance, inventory and other standard ERP functionality, S/4HANA is the best. It provides such flexibility in financials, such as GL management or product costing.

It may be difficult to find any aspects of S4HANA that don’t work well. However, there are some advanced operations like manufacturing and planning that it lacks CRM. It is still a developing technology but it still has an amazing amount of potential. Once it improves, it will be even more beneficial to all users.

 

To help fix this, SAP has been acquiring other companies, like Ariba for procurement purposes, success factors for HR management and Concur as it relates to expense accounts. What was once the best provider for this service has now spawned a younger generation that is taking market share from them. The downside of this is how many different providers you’ll need to work with in order to put all of your marketing efforts together.

SAP’s roadmap is still a bit clunky to use, especially if you’re trying to find out what services & features are best used for your business. It’s clear that SAP is committed to delivering the features and performance we need for businesses in the next decade. They’ll get there soon enough.

We’ve seen a lot of innovation in the last year and have been able to put SAP S/4HANA at number four on our list.

3. Oracle ERP Cloud

Oracle ERP Cloud is our third favorite, and it’s ideal for all the large Fortune 1000 companies. SAP is also usually a contender for that spot, alongside Oracle ERP Cloud. When it comes to comparing Oracle and SAP, we have to talk about the greater flexibility that Oracle offers. S/4HANA is fairly rigid in comparison, so Oracle tends to be a better option for people who want more customization.

 

Oracle ERP Cloud is still evolving but has many parallels with SAP. There are still a few gaps in the software for advanced manufacturing, but that should evolve over time. There is no doubting that Oracle ERP Cloud has a lot of potential. It can provide you with exactly what you need, especially if your company is more diversified. If you value flexibility and ease of integration, then using the product would be a wise decision.

2. Oracle Netsuite

Coming in at number two is Oracle NetSuite, and still a very solid, respectable ranking at number two in our top 5 list. Reason why it is number two is because we’re seeing some concerning trends with NetSuite. However, let’s start with the positives first

Oracle NetSuite is one of the first SaaS solutions. They’ve been around for 20 years, which is a long time before anyone caught on. Their solution has a lot of experience from being in the cloud the whole time it’s existed, so they’re very experienced and fast. The content was created for the cloud and has an architecture built for it.

Net Suite also focusses on small businesses, which makes it a good option for those of you who are running something fairly vanilla with perhaps fewer different departments. It’s also a sound choice if you’ve used QuickBooks or another basic accounting software before and your business is growing.

One downside with Oracle NetSuite is that the pricing isn’t too forgiving for smaller & mid-sized organizations. It can be expensive in the long run as you now have an ongoing subscription with hidden costs.

 

Competition was close, but the other downside to SAP that really held it back from being in the number one slot is that we’re starting to see more issues with implementations. Here is my theory: Oracle has probably been pushing their NetSuite platform aggressively because they acquired the company a few years back. They may be pushing it downstream to smaller businesses, but also upstream to larger ones. It seems as though they may be overstepping their boundaries promoting a product they have no experience with.It‘s important to note that not all Oracle NetSuite implementations are a fit for your specific needs. Be sure you’re getting real, impartial input from experts.

Obviously, Oracle NetSuite is not without its shortcomings and weaknesses. One of the biggest ones is that while it can do quite a few things, it doesn’t work well with any other apps you may use. If you don’t like the way NetSuite was built, it’s very hard to change, when you compare it to say a Microsoft D365, or an Oracle ERP Cloud.The lack of flexibility is detrimental and explains the second ranking. But, with other great systems it’s respectable.

1. Microsoft D365

Microsoft D365 is our world’s number one ERP system. One of the main reasons why D365 is number one is because it offers two solutions that overlap and can make a company more efficient. IBM has 2 types of ERP products. There’s Business Central, which is tailored to small and mid-sized businesses. There’s also Finance and Operations, which is designed for larger companies.

You have two different systems for two distinctly different types of organization but don’t worry about that because there are also a lot of Microsoft’s great features which make it flexible and easy to use. A lot of companies use the simple UI of Microsoft’s software, which is why it appeals to them. They value the flexibility that it offers and utilize it more often than other enterprise software that is more rigid.

As with any application or system, it’s important to not start making changes until you know what you are doing. Otherwise adjustments will cause more problems than they solve. A lot of companies find themselves struggling with implementation as they over-customize the system. Microsoft Dynamics is very easy to set up with other systems and can have the Microsoft look and feel. Plus, it’s pretty user-friendly! We often recommend clients to go with D365 for their company because of these benefits.

 

One thing I don’t particularly like about Dynamics 365 is their value-added reseller network. Like any channel, there are too many partners to choose from.I heard they’re selling D365 to their clients, but I’m not sure they’ll be able to do it correctly. Out of all the vendors in our top 5 list, Microsoft probably has the least amount of control over what resellers are doing, and this poses a problem.

In the end, that whole ecosystem has a high degree of variability in the competencies in terms of the implementation providers.

Conclusion

Choosing the right ERP solution for your business is more important than you might think. The wrong choice could cause your company to lose money, not be competitive in the market and even close down.

The key to making a successful decision is to know what type of ERP solutions are available, what they can do for you and how they can help you achieve your goals.