When you start a business, the demands are usually very simple. You want to make sure that at the end of the day, the finances you have with your cash register match what the accounting department says. You want to be able to track orders and then send them through to manufacturing or send them off in shipping. Or maybe you need something that is a little more complex and can handle sophisticated needs.
But if you’re thinking about getting one of the best ERP systems for your small business, it may be hard to decide what is best for you when everything seems to be halfway decent.
Small businesses and startups need a set of solid ERP system integrations in place. But with tons of options out there, you are probably wondering which ERP solution to choose.
Best ERP Systems – A Brief Introduction
ERP is a software program for managing business functions inside an organization. ERP systems are an integral part of any business organization that deals with any high volume of information and data, such as production and distribution.
With the increasing level of consumers, small-sized businesses and startups are becoming more interested in ERP systems. Individuals from different industry fields use ERP systems for effective management of operations. An ERP (Enterprise Resource Planning) system, at its core, allows businesses to organize their resources in the most efficient way possible.
Some of the industries benefiting the most from the best ERP systems in the competitive market these days include:
- Human Resource Management
- Finance and Accounting
- Healthcare and E-Pharmacies
- Manufacturing and Distribution
- Logistics and Supply Chain Management
- Hospitality and Retail Management
- Education
- Automotive
Points to Consider Before Opting for the Best ERP Systems
If you are looking to integrate one of the best ERP systems for your business, it is important to consider a few things before making a decision.
1. How Much Business Process Automation Do You Want?
ERP systems vary in how much automation they offer. Some systems are very basic, while others are highly advanced.
2. What Kind of Industry Do You Operate In?
ERP systems vary in what industries they were designed for, so it is important to find a system that will work well with your industry’s unique needs.
3. What Type of Data Do You Have and How Often Do You Need to Update It?
Most ERP system integrations allow users to add data as often as they’d like, but some require users to wait until the next scheduled update time before adding new information.
This can be problematic if your company needs frequent updates or if there are times when no one is available to make those updates during regular business hours.
5 Best ERP Systems for Businesses and Startups
Choosing the right ERP system integrations and software solutions for your startup can be a daunting task. You may feel overwhelmed with the options presented as there are thousands of solutions out there.
With so many different products, it’s really easy to get lost and have a hard time focusing on your business instead of the software. To help you out with this choice, here’s a list of the top 5 best ERP systems meant for small businesses and startups.
1. SAP Business One
SAP Business One is considered to be one of the most affordable ERP solutions for small businesses and startups. It can help you manage your entire operation from a single platform, so you can consolidate and automate many key business functions like finance, human resources, sales, project management, and more. With the brand’s automated system that drives profitable growth based on real-time information, you gain greater control over your business.
Some of the key features of SAP Business One include:
- Reduce errors, improve margins, and make better-informed decisions by using automated accounting tools.
- End-to-end management of the entire sales process and keeping track of all customer information
- Simple and Easy-to-Use Interface and Dashboard
- Empower employees to make smarter decisions by providing them with critical data instantaneously.
- Deliver information in a timely, accurate, and professional manner based on the latest data and cutting-edge tools.
2. Acumatica
Out of many best ERP systems out there, Acumatica is considered to be a powerful business management software that can be used by small businesses. It comes with a complete set of modules, including reporting, centralized security, a digital document system, and efficient order management.
Some of the key features of Acumatica include:
- Manage fixed assets and deferred revenues to maximize ROI on all technology investment.
- Different versions are available for different industries.
- Customer Relationship Management with real-time insights into behavior, activity, quotes, etc.
- Project accounting to handle complex billing rules on an attribute’s level.
- Financial applications tailored for complex multinationals
3. Odoo ERP System
Odoo is a small-business ERP solution that’s considered one of the best ERP systems for targeting a wide range of industries. The open-source platform was designed with smaller businesses in mind, offering tools for various business intelligence functions that include apps for operations, sales, marketing, human resources, e-commerce and more. The ERP system seamlessly combines functional business applications, forming a complete ERP solution.
Some of the key features of Odoo include:
- Send offers with clear pricing and let customers take over.
- Automate the process of ordering products, track the status of purchase orders, and manage supplier invoices and data.
- Collaborative and real-time project management that’s built right into your sales funnel.
- E-commerce software with a large catalog of products, with the ability to add content descriptions.
- Improved inventory management helps you minimize process times, stock levels, and automate transactions.
4. Microsoft Dynamics GP
Microsoft Dynamics GP is a comprehensive business management software platform available as a cloud-based service. From finance to operations and human resources, it connects all the moving parts in an organization, allowing for better control, visibility and supervision.
Some of the key features of Microsoft Dynamics GP include:
- Available to you on-premise, in the public cloud, and in a hybrid environment.
- Inventory management, production scheduling, returns processing, and more.
- Payroll, accounting, and financial management with banking and cash management
- It can help you track performance and gain actionable insights.
- Handle all of your sales opportunities, professional services contracts, etc.
5. QuickBooks
QuickBooks offers both a desktop version and an online version of its accounts payable software. The brand now also provides some of the best ERP services a small business can find. QuickBooks’ features include everything from accounts payable to warehouse management, taxes, bank reconciliation, and reporting. Furthermore, QuickBooks Desktop offers a version specifically designed for CPAs.
Some of the key features of Quickbooks include:
- Monitor the cost of goods, product levels, and get notifications when inventory is low
- Capture receipts with your smartphone and run reports on the go.
- Track income and expenses, mileage, invoices and project profitability, and accept payments.
- Manage your bills, track their statuses, create recurring payments, and pay multiple suppliers at one time.
- Maximize your tax deductions and sort expenses automatically into the right categories
Best ERP Systems – Conclusion
As you can see, there are quite a few options to choose from on this list. The best ERP system for your business will depend on a variety of different factors. But if one thing is for certain, you can’t go wrong with one of these established, powerful systems.
They offer everything that an SME business might need in terms of accounting, reporting, and inventory management. Looking to build an ERP system to hype up your small business in an organized and technically sound way? Call Invozone today to get a free consultation.
