Top 10 Best ERP Systems for 2024

Top 10 Best ERP Systems for 2024

Did you know that 70% of large enterprises worldwide are already using ERP software? More interestingly, ERP implementation has led to business process improvement for a whopping 95% of businesses. The top three benefits that businesses said they acquired from adopting an ERP system are increased collaboration, reduced process time, and a centralized data system.

ERP, or Enterprise Resource Planning, is the management platform that efficiently controls all the core processes required to run a company. Different business functions such as HR, finance, production, procuring, budget decisions, supply chain, and many others that are crucial for the smooth running of the company are recorded and supervised by organizational leaders using ERP platforms. ERP systems have evolved in leaps and bounds, and thus, it can be puzzling to choose the correct software solution.

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Here is a detailed overview of the top 10 best ERP systems of 2024 for you to make an informed decision.

#1. Microsoft Dynamics 365

The best ERP system and chart-topper in the ERP software market is Microsoft Dynamics 365 from Microsoft. The main factor keeping Microsoft Dynamics 365 at the top of the rankings is its popularity amongst a wide range of users. 

Key features

Microsoft Dynamics 365 has an all-user interface with extensive appeal and thus is a go-to for companies with a broad range of employees due to its many key features and characteristics.

  • Dynamics 365 comes with industry-specific capabilities for manufacturing, retail, financial services, and other verticals, meeting unique business needs.
  • The ERP system features enterprise-grade security. It brings along role-based access control and data encryption at rest and in transit. It also holds compliance certifications for ISO, GDPR, HIPAA, and more.
  • Its key capabilities include workflow automation, AI-driven insights, and strong reporting.
  • It can integrate with other Microsoft applications seamlessly and thus allow you to edit, view, and suggest edits offline in multiple systems without the need for an internet connection. 
  • It provides a single shareable database for all the users, thus enabling you to collaborate with multiple stakeholders in inventory management.

Training your employees in custom business processes and management can lead to them becoming adaptable to change and shape your business to its full potential.

Pricing: Dynamics 365 uses a user-based subscription pricing model. It is billed monthly or annually. Subscription plans start around $95 per user/month for basic sales and $210 per user/month for the complete ERP plan.

#2. Oracle Fusion Cloud ERP

This year, Oracle Cloud ERP has moved up to second place on the list due to its appeal to the organizational heads. This ERP system targets multinational companies. The system caters to the needs of diverse industries and is robust in working for complete organizational operations. The cloud-based ERP system offers several AI functionalities to determine patterns and trends in data sets and also create business strategies.

Key features

Oracle Fusion Cloud ERP system offers an extensive plethora of features that can cater to different business operations.

  • Oracle ERP cloud allows remote access to all its users owning any smart devices and internet connection, and thus, you can extend your employee spectrum by enabling a remote work culture. 
  • These ERP software solutions have the option to update automatically without requiring you to buy licenses every time. It also informs you and your employees through notifications to keep you all on the same page.
  • It has a user-friendly, easy, and simple interface, including significant elements that fulfil every need of the organization. This provides seamless functioning in the back and front office activities.
  • This cloud-based ERP system offers an architecture with multiple applications, from HRM to CRM to financial management
  • The ERP system can be used for supply chain management, helping you manage the supply chain, order fulfilment, and orders efficiently.

Pricing: Oracle Fusion Cloud ERP system works on a monthly subscription basis. It costs $625 per month and $7500 annually.

#3. SAP S/4HANA 

SAP S/4HANA ranks 4th as the most widely chosen ERP system for financial management. It is a SaaS ERP system that is adaptable, affordable, and effective. It helps in various operations by integrating your market data, employees, suppliers, and consumers efficiently.

Key Features

SAP S/4HANA offers an interactive platform to your employees with distinct and innovative features for easy business operations.

  • This ERP solution uses in-memory computing tools and technologies for real-time data analysis and reporting of data.
  • It is a robust ERP system with an advanced HR module, allowing your users to manage and monitor your employees.
  • SAP S/4HANA has CRM, SCM, PLM, and SRM integrated within the system, providing multiple benefits for various functionalities.
  • The new addition of SAP Fiori UX, which is optimized to function on any smart device, helps employees access the platform from anywhere, anytime.

Pricing: The pricing of SAP S/4HANA depends on the modules required by the organization. This ERP system can cost from $250,000 in the initial years for both licensing and implementation.

#4. Workday

Workday comes up at number four on this list. Workday is a market-leading provider of cloud-based HCM, enterprise resource planning (ERP), and financial management software. The platform offers businesses and organizations across many industries the necessary tools and capabilities to optimize operations and revolutionize business processes.

Key Features

Workday ERP solution is one of the leading ERP systems in the market. It offers users a dynamic and innovative platform to perform various organizational functions. The following features make Workday as one of the best:

  • In addition to pre-built interfaces between Workday modules and apps, the Workday system supports seamless interaction with third-party business applications and software.
  • Workday’s enterprise management cloud leverages a flexible framework, intelligent core data, and effortless integration tools to help businesses automate and improve their business operations even more effectively.
  • The Workday talent management suite offers resources to support worker recognition, career planning, objective management, and employee growth.
  • The analytics and reporting section offers a range of tools to help with informed business decisions and monitor employee performance data.

Pricing: Workday does not have any defined pricing model. The pricing is customized according to the needs of the organization. The prices are modified on the basis of the chosen modules.

#5. Infor

Infor’s enterprise software has been developed on the Amazon Web Services (AWS) cloud infrastructure. Infor also provides on-premises software. Infor helps businesses adapt themselves digitally. For real-time business intelligence, Infor software solutions leverage machine learning (ML) and artificial intelligence (AI) technologies.

Key Features

By offering a thorough cloud-based system, Infor offers several attractive features to your organization.

  • Infor’s software solutions can be deployed on the cloud, allowing enterprises to have access to their programs anywhere, at any time, and from any device.
  • With the help of its comprehensive analytics and reporting features, businesses may make data-driven choices and acquire insightful knowledge about their operations.
  • With capabilities like demand projections, supplier relationship management (SRM), production planning and execution, etc., it simplifies supply chain operations.
  • It enhances cash flow and financial controls by handling all facets of invoices, payments, and money management.

Pricing: Infor M3 is a popular ERP system offered by Infor. The pricing models for this ERP system are flexible to the business needs. The pricing model includes the cost per user, per module, and other customizations.

#6. Epicor

Epicor is a cloud-based ERP software solution that serves various industries, catering to their business operations, ranging from production to distribution and data management. The Epicor ERP system is modular and used for handling business activities across the entire organization. Epicor software is effective for managing accounting and finance, employee relations, customers, supply chain, inventory, shipping, manufacturing, and production management.

Key Features

  • Featuring Work Breakdown Structure (WBS) and multi-phase project tracking, Epicor is a cutting-edge project management tool. Accounting-standard revenue recognition is a component of project management.
  • Epicor helps manufacturing businesses synchronize essential workforce data with production data and streamlines key human capital management and human resources operations.
  • Epicor ERP features advanced planning and scheduling operations.

Pricing: Epicor has a flexible pricing model based on the modules needed by the organization.

#7. IFS Cloud ERP

The IFS ERP solution is a powerful tool that provides a number of features to improve business procedures. Offering a blend of customization and flexibility, IFS ERP Solutions is an extensive choice for companies looking to update and improve their operating skills

  • Comprehensive financial management features, such as a unified ledger, accounts receivable and payable, organizing assets, predicting, and budgeting.
  • Organizations can efficiently and effectively oversee their human resources by using the Human Capital Management module, which guarantees that qualified individuals are working in the right positions and forming an adequate team.
  • Their cloud feature access allows you to save time and company resources by employing the workforce efficiently and also managing human capital.

Pricing: There is no fixed pricing model provided by IFS. They customize the pricing model for you according to the required modules and number of users.

#8. Oracle Netsuite

Oracle Netsuite is an innovative SaaS cloud ERP solution. NetSuite eliminates the requirement for on-site infrastructure. It supports financial administration, inventory and purchase management, CRM, e-commerce, and business intelligence, among other things. Here are some of the Netsuite pros and cons.

  • The Human Capital Management module ensures that skilled workers are positioned correctly and make up a sufficient team, allowing organizations to manage their workforce in an effective manner.
  • It integrates finance, supply chain, production, human resources, and ecommerce into a single system with a single database rather than employing separate software for each of these services.
  • The modules on the platform are natively integrated, eliminating the requirement for third-party integrations that might not be dependable or unable to handle real-time modifications.
  • SuiteCloud apps and tools allow you to modify the platform to fit your organizational structure and operations.

Pricing: Oracle Netsuite uses a pay-per-user subscription pricing model based on roles. The subscription model starts at $99 per user/month for limited CRM features and up to $999 per user/month for a premium ERP system.

#9. Odoo

The Odoo ERP system is used throughout the corporation to handle business activities. Odoo offers a suite of smoothly linked, functioning business programs known as Odoo apps, which, when combined, comprise an ERP solution. Odoo is an open-source program that may be purchased as an Enterprise edition or as a free Community version with a SaaS subscription.

  • Odoo features an extremely clean, reliable, and user-friendly interface. It is also simple to customize and set up. You can complete an entire transaction with ease.
  • Odoo comes with strong built-in communication features. They monitor internal conversations about your purchase orders, invoices, and sales orders using messaging systems.
  • Odoo’s user-friendly interface makes it simple to manage all of your projects. Both your internal and client projects are under your management.
  • Odoo offers integrated e-commerce technologies that function seamlessly with your website’s foundation.

Pricing: Odoo pricing structures are determined by the total number of users and the Odoo apps chosen for commercial purposes. SaaS basic pricing for Odoo’s business management software begins at $35 per month for one user per year or $28 per month without apps, with decreased amounts for new users.

#10. ClickUp

ClickUp is a comprehensive project management and efficiency solution that businesses of any size can use. Teams can efficiently manage their objectives, tasks, resources, and time because of its adaptability. ClickUp’s unique fields and personalized views set it apart from competing ERP solutions, as do its user-friendly interfaces and exceptional customer support.

  • It’s a powerful tool that offers value even in its free version, making it usable for a wide range of business activities.
  • Simple data movement that doesn’t involve any data loss from your current tools and ERP systems.
  • ClickUp stands out by its prompt and efficient customer support, which guarantees seamless setup and troubleshooting.
  • The CRM function of ClickUp provides ERP systems for sales and success teams to track contact details, budgets, and much more.  

Pricing: The pricing of the ClickUp ERP system is divided into three categories based on company size: small, medium-large, and large enterprises. The primary pack costs $7 per user per month, and the business pack, which is the most popular choice, costs $12. The enterprise pack is a customizable one. Every organization can get its personalized solution designed while getting in touch with the team at ClickUp.

Actionable Adverbs

Research suggests that 64% of ERP implementations take more than six months to complete. Further, post-implementation support and ongoing maintenance present challenges for 22% of organizations, impacting their performance. To digitally transform your business units, provide your employees with software solutions of ERP systems through Onboard and explore the ERP functionality. Onboard, a leading implementation consultant brings you unique training programs for the best ERP systems.  

Common Questions on Primary Keywords

What are the types of ERPs?

There are three types of ERP systems based on their implementations- cloud-based, on-premise, and hybrid solutions.

What is the difference between ERP and CRM?

Enterprise Resource Planning, ERP is used by companies to manage finances and resources efficiently and achieve company goals. CRM (Customer Relationship Management) helps companies to manage their sales and look into the customer experience. 

What is ERM?

ERM( Enterprise Risk Management) software is a tool that allows leaders of organizations to identify, manage, and control risks in business functions such as business operations such as the financial processes, inventory management, and supply chain management from internal and external factors such as financial, environmental to prevent the company from incurring losses in sap business functions.

Are ERP systems easy to use?

ERP systems can be a bit hard to navigate for beginners, but eminent training platforms such as Onboard can guide your employees through supply chain management and inventory management. 

Is my data safe in ERP systems?

ERP systems contain confidential data of major corporations and financial management; thus, network segmentation data encryption and isolation and seamless integration of ERP systems on the premise of a business management system ensures its safety and adds to the project management system functionality and business intelligence.

How does the ERP platform store data?

All the data and financial statements are stored by ERP systems in a single, central database.  

Sources:

Joanne Harrison
Joanne Harrison
Director of Sales

Joanne has worked for Onboard’s parent company Optimum since it was established back in 1998 and has progressed through the organization to Director of Sales. She has overall responsibility for business development and leading the growth of the company. Her role is to expand the value proposition to our clients and target markets, identify new markets, implement strategic partnerships and build valuable relationships with existing clients and system partners.

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