Enterprise resource planning (ERP) software solutions provide various software that manages or are used in day-to-day business operations that are integrated on a single platform. Because of the complexity and the number of features that are provided by ERP software, it was initially adopted by huge organizations only. But of late, the world of business has been adapting itself to satisfy the needs of the customer and to solve as many possible problems that the customers face. This has created a need for all types of companies starting from smaller startups to large enterprises to ERP software for their business processes.
Solutions offered by ERP software
ERP software is specifically designed to reduce the burden for companies in carrying out certain tasks and to improve efficiency in production and manufacturing. ERP software provides solutions for human resource management (HRM), customer relationship management (CRM), finance and accounting, supply chain management, inventory management, etc.
Human resource management
Human resource management (HRM) software is used to store employee information and records. Information on payroll, time tracking, planning and hiring employees can all be stored in this software and can be directly integrated into accounting software/tools for understanding the effect of human resources in financial aspects of the business.
Customer relationship management
Customer relationship management (CRM) software is used to store information about customers and sales-relayed information such as information on production and shipping that are provided by the production team. This information can be accessed by all the stakeholders involved in the business process.
Finance and accounting
Finance and accounting solutions, as the name suggests, are used to store financial information such as employee salary, the revenue of the company and the expenses incurred. This software is helpful in understanding the profit and gain as it keeps track of all financial transactions.
Supply chain management
Any issue in the supply chain can affect the entire business process. Supply chain management software helps in managing the flow of goods and services. Right from converting raw materials to finished goods, this software provides insights to the teams involved in production and manufacturing.
Inventory management software helps companies in managing warehouse and stockroom inventory. This software helps keep track of the number of resources available and helps companies in deciding if they have enough stock to meet the demand in the market. These solutions are capable of forecasting supply demands when integrated with ERP solutions.
Many companies offer ERP solutions for startups and larger companies to reduce the overall software overhead.
The Best ERP Solution Providers Are Mentioned Below.
1) Sage Intacct
Sage Intacct offers applications that can take care of the complete financial processes. This enables the companies to focus on their productivity. These applications can also be easily integrated with other applications.
Pricing: Sage Intacct offers pricing methods on a yearly subscription basis. The charge around $15,000/year for a single user and around $60,000 for enterprises.
2) Oracle cloud ERP
Oracle cloud enterprise resource planning software is developed by Oracle corporation in 2012. This cloud-based ERP solution manages enterprise-related functions like accounting, financial management and product and procurement management.
Pricing: Oracle cloud offers various pricing plans for report management, financial controls and access controls for which they charge $175/user/month, $80/user/month and $150/user/month respectively.
3) NetSuite ERP
NetSuite, a product from Oracle, helps companies in streamlining their business processes and scaling up the business. Netsuite ERP solutions can be easily integrated into other applications and automate business functions such as financial management, revenue management, inventory and order management and CRM.
Pricing: NetSuite offers payment plans on a monthly basis or yearly basis. The licensing costs $999/month with an access cost of $99/user/month.
4) Deltek vision
Deltek offers product-based ERP solutions that are specially designed for service companies to manage the entire project lifecycle. Deltek can be integrated with existing business applications with its API web services.
Pricing: Deltek offers flexible pricing plans to its customers. The basic cost of licensing starts from $46 per license.
Sparkrock offers ERP solutions that are specifically designed for non-profit organizations, health and human services and educational institutions to manage their finances, payroll and employee scheduling.
Pricing: Sparkrock offers the same pricing for both cloud and on-premise deployments. Initial price of the product starts at $5,170/month.
Odoo, an open-source ERP software that comprises other essential business applications that are used for CRM, accounting, billing, inventory management, warehouse management and manufacturing. These applications easily connect with other applications to exchange information.
Pricing: Odoo offers pricing plans on a monthly subscription basis. The cost for the enterprise version is $28/user/month. Customers are additionally charged for the integration of Odoo with other applications.
Metafresh is an open-source ERP software that helps manufacturing companies in increasing their productivity in data processing and document creation. This software includes sales and procurement, CRM, manufacturing, billing, accounting, etc.
Pricing: Metafresh offers a free version of the software. For the paid version, they offer free trials for the customers. The basic pricing plans start from $24/user/month.
Enterprise resource planning solutions may seem expensive but it has the potential to manage all of the company’s data. Based on the client’s demands, an ERP solution provider can offer data upload and integrations with other applications. Choosing the right ERP solution for your business will greatly assist in developing your business as it automates the majority of the business processes.