Poor inventory management, inadequate customer service, high overhead, and complex administration – all these constraints can bother your business!
With the availability of such challenges, there is no doubt to say that businesses require something robust, easy-to-use accounting software to manage day-to-day operations.
So, say goodbye to business hurdles like operational inefficiencies, data duplication and downtime through – Enterprise resource planning (ERP) software. It is a robust system that helps organizations to streamline business operations and manage business functions with a user-friendly and a centralized database interface. It can be used by a lot of different sectors in accounting and finance, customer relationship management, supply chain management, inventory management, manufacturing, human resources and business intelligence.
Enterprise ERP software is used to track all aspects of production or distribution, financials, and back office. They have proven capabilities that help organisations to deliver intensified operational benefits and efficiencies.
Hence, installing the right ERP software could be money-saving and profitable for your business. But, choosing a reliable and secure system in the wide market can be a little daunting task.
That’s why we bring the best ERP software that helps in choosing the appropriate one according to your business requirements and budget constraints.
So, let’s get to the list!
Table of Content
What Is ERP Software?
Best ERP Financial Software For Businesses
- Oracle NetSuite
- Microsoft Dynamics
- Sage 300cloud
- SAP Business One
- Odoo ERP
What Is ERP Software?
ERP refers to Enterprise Resource Planning, which is used to manage all the businesses resources necessary in a large complex organization. This integrated software suite combines the company’s processes like accounting and procurement, project management, customer relationship management, risk management, manufacturing, and human resource into a single unit.
Simply put, an ERP system is effectively used to communicate and bring together business processes to enable a flow of data between the different departments. It helps in planning, budgeting, predicting and accurately reporting on an organization’s economic health and activities.
Even, the software has the ability to gather the data from across departments and then compare it to generate the accurate reports. This further provides a complete summary of business performance with comprehensive insights on – how resources are being spent. The combined data information and reporting also assist the administration to make real-time business decisions.
The overall purpose of an ERP system is to enhance business efficiency without sacrificing quality and performance.
Best ERP Financial Software For Businesses
1. Oracle NetSuite
NetSuite is known as one of the popular business management systems that control ERP, CRM, financials, and e-commerce, among others. Due to seamless integrations, robust functionality, and high level of automation, it achieves a great expansion in a broad range of industries and businesses.
This scalable cloud ERP solution automates and integrates all the processes like financial accounting, reporting and analytics, payment management, order and billing management, supply chain management, revenue management, fixed assets, order management, and inventory management.
A NetSuite user can access financial information through a web browser/mobile device. It helps the businesses in making top management decisions for obtaining desired profitability.
2. Microsoft Dynamics
Microsoft Dynamics is an ERP and CRM solution equipped with an extensive range of functionalities and tools to offer more efficient results. This ERP software handles CRM, HR, supply chain, finance, and a whole lot more, which is a perfect option for businesses related to finance, retail, manufacturing, among others.
It combines all key constraints of different departments and intuitively integrates them to provide a more suitable and systematic operation. Microsoft Dynamics helps in making smart reporting in order to bring a strong and sound business evaluation.
3. Sage 300cloud
Sage 300 is an all-in-one business management software that is used by over 40,000 customers across 150 countries and a variety of industries. From managing finances to inventory control, this ERP software easily centralizes all the business processes.
This single application reduces the complexities of running multi-entities with ease across multiple locations or regions. It complies that the software makes it easy to manage multiple companies and accounts in multiple languages. Even the Sage 300 Accpac solution maintains an unlimited number of currencies, exchange rates, and automation of gains or losses from fluctuations.
Syspro is an ERP platform that works best in manufacturing and logistics businesses. It focuses on streamlining business activities like accounting, inventory management, auditing reporting, document management, etc. One of the essential features that separate this platform from other preeminent ERP software is that it is obtaining momentum in the area of AI and machine learning to make sound business decisions.
The comprehensive and extensive API capabilities of this platform make it a more robust, scalable solution that minimizes risk and maximizes ROI. Moreover, the core financial and accounting functions provide essential insights to reduce economic uncertainty.
5. SAP Business One
SAP Business One is a modular and unified ERP solution, fit for all small and medium-size organizations, including accounting, retail, manufacturing, and others.
This cloud-based platform combines all the business processes (financials, CRM, inventory, sales and operations management modules) in a single system to operate the business in the right direction. It minimizes the risk, error, and duplicate entries in order to provide accurate data visibility. The SAP Business One creates detailed reports on all aspects to enhance the bottom line.
Acumatica is the most adaptable business management solution that is a great option for small and medium-size organizations. It offers flexibility, efficiency, and continuity of operations to growing businesses.
The platform can integrate all the business operations, collaboration tools, and business applications into a single unit. Its high scalable functionalities protect the business from disasters and improve the overall effectiveness by reducing the multiple breakdowns.
7. Odoo ERP
Odoo is a cloud-based ERP platform that manages business activities such as customer relationships, accounting, sales, communications and website creation. This accounting module lets organizations track expenses, receive payments, and create invoices.
Its customized application builder allows developers to create designs, forms and graphs. This comprehensive, all-in-one business software manages the entire product journey from manufacture to sale.
After picking up the right ERP solution, it means you won’t lack behind in terms of high ROI and revenue. Indeed, it takes thorough research and organizational analysis to determine – what features are matching with your business requirements, where actually you need improvement, and what type of ERP accounting platform will work best with your system. Whether you are looking for an ERP financial system or any other, make sure you have a solution that’s tailored specifically for your organization