Best ERP Software, Reviews, Pricing and Comparison 2023

Top 10 ERP Software for Small Business

Top 10 ERP software companies in the world

Top 10 ERP Software Companies In India for Small to Large Business

Top 10 Best ERP Software in India

Introduction

There are so many fields that has incorporated and implemented technological developments into their fields. This is the same with business where there are so many minute details that has to be considered and taken into account. Of so many details which a business handles, a technological implementation like an ERP Software can be of great help. Be it a smaller or larger business, an ERP software is sure to bring about many and good changes for your company.

A simple intro to an ERP Software

Each software that peoples use has several versions and types involved. This is due to the developments and new-normal procedures that has to be adapted by the software. This is also the same with an ERP Software. There are variety of types and versions which will help you in handling various tasks involved in your business with ease.
There are so many functions that are being performed in a business. For example, you might need to have a proper database that maintains a track about the products in your business, having a track of your employee and customer details, accounting which is the core process. Doesn’t it sound amazing to know that all these processes can be taken under control and into a single roof using an ERP software?
Collection of data and proper maintenance of the same can be a very difficult job and it requires special managerial skills to mandate the same. With the help of an ERP software, you can have a proper maintenance of all the details that involves in your business.
An ERP software is just like a segmented box where you have various spaces to handle all the business-oriented fields that are available in your business. The technological development has also included cloud system into the software, which provides a great scope of development to your business.

A jot-down of the features in an ERP Software

Technology has enabled the exploration of implementing various functionalities into a single frame. An ERP Software can also be considered as a package of different core technological features binded together to help the development and running of a business. They are:

• Of so many features, Integration can be the first and out-spoken feature. This is because, handling so many functionalities like accounting, human resources, data handling, tracking etc using a single software hears and works amazing.
• When you are having a bigger branch with numerous employees, a few functions have to be automated. For example, you cannot consolidate attendance, payroll management etc for hundreds of employees manually without any error. But with an ERP Software, automation of these process can be easier.
• Consolidate the data and provide a pictorial representation of the same easily with the help of an ERP Software. This analysis will provide the loop-holes that has to be cleared to make a bright future for your company.
• A business is not always single owned, but there are certain businesses where you have stakeholders with whom you have to share private and detailed analysis. All that you need is an ERP Software for creating a perfect pitching analysis and report generation.
• Analyse and track all the important details that your business owns. Tracking is an important process in any work that you do. It will help you to have an idea about the processes that are happening in your business. ERP software enables easy methods for the same processes.
• Customer Relationship Management can look like a simple term but requires efficient mechanisms to attain the same. Now you don’t have to worry because, an ERP software can help in satisfying the customers with accuracy, faster process, easy payment methods etc, which ultimately leads to the attainment of CRM.

Dig in deep to know more about the benefits served by an ERP Software in the development of your business.

Accounting

A deeper look into the accounting process 

Of all the process that has to be handled and properly maintained in a business, accounting is one of the major features. This is because, a small error in this department can be a huge loss. So, you cannot afford to take any silly risks in your money and accounting in your business. So, what can your ERP Software do?

Well, there are so many functionalities or nearly sub branches in an accounting field. It is important to keep a track of all these functionalities in mind and work accordingly. Here are a few of the accounting functionalities that your ERP Software can handle like a pro.

• Maintenance of a general ledger or bookkeeping process. It is a well-known fact that, once upon a time people were hired separately for the same. But errors were unavoidable. N ERP software can completely store all the bookkeeping records easily and efficiently. It also allows you to retrieve them whenever necessary.
• The amount that is being paid to people. Similar to having a track about the products that are being manufactured and sold, it is of utmost importance to know about the amount that is being paid to people for your employees or even for various business reasons. A record of all these has to be maintained for a long-run business.
• Having a record of the amount that is being received is also necessary. This will provide a detailed accounting plan. This is also important for providing a clear idea about the funds that are in-hand and the ways of properly utilising the same.
• Maintain a bookkeeping is alone not sufficient. You have to ensure that the details that are entered in your general ledger perfectly matches with your bank accounts. When there is an unbalanced situation, you have to find the loop-hole that causes it.
• You can also generate a consolidated monthly report that can provide you complete details of the accounting processes that have been handled in that month or year as per your requirement. This will provide you a visual idea of the money flow. Analysing money flow is important for surviving in a good and competitive business market.
• Tracking your asset and billing are also two of the most necessary processes that cannot be missed. Money flow can be properly analysed by completely understanding and maintaining a detailed track report about your assets. 

An ERP software can help in handling all these functions with ease and accuracy. Here is a detailed view of different ERP software providing various functionalities served by it.

Human Resources

Upkeeping Human resources

When there is a business that you are running and want it to be placed on a pedestal and has to be unmovable. You have to consider all the features that can be provided for your employees. Proper tracking and maintenance of their personal details etc is important to get abundance profit. Here are a few details that can be efficiently managed and entitled using an ERP Software. They are:

• Tracking and maintaining a record about the details of an employee is important. This database has to be safe. It has to be accessible, addable, delete-able, editable. All these operations have to be performed when it comes to having a detailed report about employees.
• In a company that does huge business, it is important to know about the performance of employees. This is an important factor because, it provides an overall assessment about the work that is being carried out by people. So, performance analysis report is of great importance.
• Generating payroll and payroll slips are also an important part. This function can come under both human resource management and accounting. An ERP Software can make this process easy and efficient by enabling automatic mode. And thus, the payroll with be processed and generated depending upon the time frame that is being set.
• An employee working in your company will be provided with benefits like incentives, medical claim, reimbursement etc which also has to be kept in track. It also has to handle the compensation column which provides support and needful for your employees.
• Another important process is hiring and onboarding process. These processes are important because, searching for people from a talented pool is not very easy. Picking up the right candidates via the job description and maintaining a database to handle the entire process can be performed by an ERP Software.
• Last but never the least, maintaining a detailed report of the attendance and tracking the needful. It is important to track the attendance report of the employees. This is because, it is one of the major facts behind the payroll process. The amount that has to be paid to the employees can be calculated based on the performance and attendance only.

Here is a detailed list of the various Human resource maintenance functionalities that can be performed by different types of ERP Software.

Project management

Manage and maintain your projects efficiently

Projects are the building blocks of a business. In a successful business there would be so many projects that are going on simultaneously. The most important reason behind the management of projects is that, a successful project management can determine the success rate of a business. Be it small or bigger businesses, managing projects that are going on for days, years or even for months is important to be noted, tracked, managed and properly presented with reports. Here are a few functionalities that can be performed by an ERP Software when it comes to project management.

• Having a good connection between the networks and collaborating partners. A project may be started by your own company, or you might also have a client that needs a project completed by your company. In the second case, good connectivity in a professional platform like chats, video conference etc is important.
• Handing over a single project to a single employee could be the worst decision ever. This is why a project is split into modules and are assigned to few employees. These tasks much be overviewed, asked for reports, and these reports have to be collaborated together. Task management can be a very crucial part in handling projects.
• Planning a proper blueprint and scheduling the works to be done with deadline is also important. Following these schedules are vital to complete a project on time. An ERP software with the latest features can provide the exact requirement satisfied.
• The completion status of the project and reports have to be submitted to the client. This will help in developing a good name in the good book list of your client enabling perfect profit for your company.
• Performance analysis of the employees and enabling a platform for sharing documents commonly can be important. This will help in finding the real talents from your group of employees.

Thus, all these functions embedded in a single ERP Software platform sounds to be a great positive feature. These features provide an overall growth benefit to your business and brand name to your company.

Inventory management

Keep an eye on your inventories

Keeping an eye upon the inventories is something very important. When you are doing a business on large scale, it is necessary that you have good track upon the works that is being done. Similarly, it is necessary that you also keep in head about the products that are leaving your storage and adding into it. This will help not just in balancing the stocks for your business but also helps in providing security to your stocks. A few of the functions that can provide you stock details by an ERP Software are:

• Having control over the inventory is needed in order to regulate and maintain the flow of products. This is because, letting anyone access the inventory can be the root cause of a mess. A good ERP software will help in providing proper security to your inventories.
• A good check of the inventory in cycle terms can help in providing an overall report and the profit or loss count of the goods that are present in the storage.
• Scanning is an important part while using the inventories for storing goods. You don’t have to manually type the name of the product, type, cost, expiry date or the number of goods o the same type available. This is because, an ERP software will help in taking a complete and detailed database.
• Certain ERP software also comes along with the features that can help in managing the orders. From receiving an order, checking the presence of stocks for the received order to approving and sending response to the client. All these can be performed easily using this software.
• Creating a detailed report about your inventory is another form of security measure that has to be adapted by the business. This will increase the chance of having the best inventory for your business. 

Here is a detailed list of the various Inventory resource maintenance functionalities that can be performed by different types of ERP Software.

Supply Chain management

Managing the supply chain effectively

Supply chain is the chain of procedures, which involves business people in receiving the orders, processing it, sending the orders and getting the orders properly delivered to the store. It involves a network where work is being split and allocated. The entire network and the process has to be under control which will result in the proper maintenance of the supply chain. Technology has enhanced the features and thus making all these tasks done is very easy with ERP software and all the latest features.

• Creating a good plan and blueprint for maintaining the supply chain is important. This will provide a good impression on your company for the clients. It also makes the entire work easier and better to be performed.
• Customising the reports can be a tough job without the ERP Software. Each client might require different kinds of reports and manually doing it would be a great hectic job. You can also change the themes of the reports which creates extra attractiveness on the process that is being done.
• Supplier network has to be tracked and checked. This is because, once the goods leave your storage, it is in the hands of another network. This means that, if there is any error in the supplier network then there can be a great loss. This can be avoided by tracking the supplier network.
• Analysing the budget and calculating the requirements can be a tough job. This can be done manually but takes a lot of time and there can also be errors when these are done manually. These manual errors can be neglected by using proper and strategic calculation about source along with requirements.
• There can be certain limit to which the goods are being sent. But in few businesses, there is no limit. If you are dealing a business that has no limit with transportation of goods from place to place, then there is a need for good mechanism and tracking. These good mechanisms will help in providing a strength to the supply chain and the management.

Thus, all these functions embedded in a single ERP Software platform sounds to be a great positive feature. These features provide an overall growth benefit to your business and brand name to your company.

Manufacturing

Maintaining the Manufacturing 

The latest versions of ERP software have also included the Manufacture maintenance as one of the features. This provides a better use of the software by various companies. All these include the different functionalities that can be provided by the ERP software in providing the better results for the development of the business and company. Here are a few of those functionalities performed by an ERP Software below. They are:

• Any process requires a plan and this is the same for planning for manufacturing. A proper planning is important. This will provide good results in the end. Because, before taking up an order, it is necessary to know the details of the stock that is available and the customer’s requirements. All these can be tallied by using a single ERP Software in the best way possible.
• Even though, manufacturing department works fine. The quality with which the products are manufactured has to be noted. Customers won’t be happy with products that are provided with low quality. If the quality is not tracked, then there can be serious issues from the client side.
• The entire cycle of manufacturing has to be maintained, controlled and managed. This will provide a better use of the ERP Software for the development of your business and company.

Here is a detailed list of the various manufacturing the resource maintenance functionalities that can be performed by different types of ERP Software.

Methodology

The ERP Methodologies

If you are looking for the methodologies that are available in ERP and types. Then, this is the place. There are so many methodologies with which the ERP is being developed and all these methodologies have features that are developed based upon new-normal lifestyle, requirement and management. These methodologies or phases of the ERP in implementation are:

• The first one is the analysis of the process.
• Followed by the analysis of process, you have the process organisation which is a phase that cannot be skipped.
• Configuration is done for all software. And an ERP is not an exception. Thus, configuration is also done with the ERP software to provide it as a complete package and best platform.
• In order to provide the best service, it is important that the ERP software is tested before use. This will also help in finding various loop holes that has to be properly mended.
• Now, that all the features are perfectly ready and tested, it can be the platform for utilisation and reaping the benefits for your business.

Guide to choose the best ERP Software

There is so many ERP software that are available in the market and choosing the best one for your business can be a difficult job. But with the right checklist, this process can be entirely easy. And that is the reason why, taking note and jotting down the following tips can be useful in making the process of choosing that one good ERP software much easier. The tips are:

• Before fixing with the ERP software for your business, it is necessary that you analyse about your business and have a clear idea about the needs. This will help in properly analysing and finding the best ERP. Moreover, you can ask for a demo instead of simply relying upon the words from the vendor. A professional and good vendor will always be glad and ready to provide you with the demo.
• After looking at the demo, evaluate the ERP in terms of technicality and easy usage. When you evaluate, it helps in providing the best results possible.
• The plan for implementing your ERP must be realistic which means that having a plan is certain. This will help in choosing the best ERP Software that can properly fit your business and make your company work more effectively.
• It is also important that you take in reviews. You will not be the first one to use this ERP and thus, taking reviews and advice from the people who are already using the ERP software will be a great idea.

Now that you have a clear and positive mindset about implementing an ERP Software for your business, choosing the best vendor is of great importance. If you are looking for professional people who can provide you with better guidance and help you choosing the best ERP Software, please contact suggestinfo and reap the benefits of an ERP Software.

Accounting

Human Resources

Project management

Inventory management

Supply Chain management

Manufacturing