Top 15 ERP Vendors in 2024

• • An enterprise resource planning (ERP) solution is a comprehensive software system designed to integrate and streamline the management of various core business processes within an organization.
  • These processes typically include finance, human resources (HR), supply chain management (SCM), manufacturing, procurement, and customer relationship management (CRM).
  • This article shares a list of the top 15 ERP vendors this year, including stalwarts like NetSuite and JD Edwards and a few up-and-coming names in the ERP industry.

What Is ERP?

An enterprise resource planning (ERP) solution is a comprehensive software system designed to integrate and streamline the management of various core business processes within an organization. These processes typically include finance, human resources (HR), supply chain management (SCM), manufacturing, procurement, and customer relationship management (CRM).

ERP solutions are a centralized platform where data from different departments and functions can be collected, stored, analyzed, and utilized to improve overall efficiency and decision-making.

ERPs date back to 50+ years

The evolution of ERP solutions can be traced back to the 1960s and 1970s when businesses started adopting material requirements planning (MRP) systems to manage manufacturing processes. MRP systems focused primarily on inventory management and production scheduling.

Over time, the scope of these systems expanded to include other business functions, such as accounting and distribution, giving rise to the concept of ERP.

During the 1980s and 1990s, ERP solutions underwent significant development, driven by advancements in computing technology and the increasing complexity of business operations. This period saw the emergence of integrated software suites that could manage multiple business functions within a single platform.

Major players like SAP, Oracle, and Microsoft entered the market with comprehensive ERP systems capable of serving large enterprises, and they still cater to your ERP needs today, as we’ll see in our list of top ERP vendors.

The 2000s witnessed further evolution in ERP solutions with the advent of cloud computing and the proliferation of internet connectivity. Cloud-based ERP systems offer greater flexibility, scalability, and accessibility than traditional on-premises solutions.

This shift enabled organizations to reduce upfront infrastructure costs, enhance collaboration, and adapt more quickly to changing business requirements.

Today, ERP solutions continue to evolve by integrating emerging technologies such as artificial intelligence (AI), machine learning, and the Internet of Things (IoT). These technologies empower ERP systems to deliver advanced analytics, predictive insights, and automation capabilities, further enhancing your operational efficiency and business decisions.

See More: Ready or Not, the Shift Is Here: Trends Driving ERP Decision-making

Why you need ERP in 2024

Organizations use ERP solutions for several reasons:

• • • Streamlining operations: ERP systems enable you to consolidate various business processes and data into a single, integrated platform. This streamlines operations by eliminating silos, reducing manual tasks, and enhancing data accuracy and consistency.
    • Improving efficiency: By automating routine tasks and providing real-time visibility into business processes, ERP solutions help optimize resource utilization, reduce cycle times, and improve overall operational efficiency.
    • Enhancing decision-making: With access to comprehensive data and analytics capabilities, ERP systems empower you to make more informed and timely decisions. Whether forecasting demand, managing inventory levels, or allocating resources, ERP gives you the insights needed to drive strategic initiatives.
    • Supporting scalability: Thesis solutions are designed to support the growth and evolution of your organization. Whether expanding into new markets, adding new product lines, or acquiring new subsidiaries, ERP systems can scale to meet your changing business needs.
    • Ensuring compliance and risk management: ERP solutions help you maintain regulatory compliance by enforcing standardized processes and providing audit trails for transactions. Plus, built-in security features help mitigate data breaches and unauthorized access risks.

See More: How Cloud ERP Powers Enterprise Intelligence

20 Key Features To Look for in ERP Solutions

If you’re looking to partner with the top ERP vendors, you need to know which features to look for in an ERP solution. Typically, you’ll need:

• • • An integrated suite: A good ERP system provides a unified suite of modules covering various business functions such as finance, HR, manufacturing, and CRM, enabling seamless data flow and process integration across your organization.
    • Centralized databases: With a centralized database, you can store and manage all your business-critical data in one location, ensuring data consistency, integrity, and accessibility throughout your enterprise.
    • Customization and configuration: You can customize and configure your ERP system to match your organization’s unique processes, workflows, and terminology, enhancing usability and alignment with your business needs.
    • Scalability: ERP systems are designed to scale alongside your organization’s growth, allowing you to easily expand operations, add users, and integrate new functionalities. The best ERP vendors will use cloud technologies like Amazon Web Services (AWS), Google Cloud Platform (GCP), or Microsoft Azure to achieve this.
    • Modular architecture: Utilizing a modular architecture, you can deploy and scale individual ERP modules based on specific requirements, enabling a tailored solution that optimizes resource utilization and cost-effectiveness.
    • User interface (UI) and user experience (UX): Modern ERP systems offer intuitive UI and UX designs that facilitate user adoption and productivity by providing easy navigation, minimal training requirements, and relevant insights.
    • Mobile accessibility: Mobile access empowers your users to perform ERP tasks and access critical data on the go using smartphones or tablets, enhancing flexibility, remote work capabilities, and responsiveness.
    • Real-time data processing: Real-time data processing capabilities ensure that information is updated promptly across your ERP system, enabling timely decision-making, accurate reporting, and enhanced operational efficiency.
    • Reporting and analytics: Integrated reporting and analytics tools allow you to generate customizable reports, dashboards, and KPIs, providing actionable insights into your business performance and enabling data-driven decision-making.
    • Business Intelligence (BI) Integration: Integration with business intelligence tools enables advanced analytics, predictive modeling, and data visualization, empowering deeper insights and strategic decision-making based on comprehensive data analysis.

See More: Leveraging Cloud ERP: Mill Products Manufacturing Growth

• • • Workflow automation: Your ERP system automates routine tasks, approvals, and notifications through workflow automation, reducing manual effort, minimizing errors, and optimizing process efficiency across your organization.
    • Supply chain management (SCM): SCM functionalities encompass inventory management, procurement, demand planning, logistics, and supplier relationship management, enabling efficient supply chain operations and inventory optimization.
    • Manufacturing execution system (MES): MES capabilities facilitate production planning, scheduling, tracking, and quality management, ensuring optimal resource utilization, product quality, and on-time delivery in your manufacturing processes.
    • Financial management: Financial management modules cover accounting, budgeting, financial reporting, taxation, and compliance, providing visibility into your financial performance and ensuring regulatory compliance across your organization.
    • Human capital management (HCM): HCM features include employee data management, payroll, benefits administration, talent acquisition, performance management, and workforce planning, facilitating effective HR management and talent development.
    • Customer relationship management (CRM): CRM modules support customer engagement, sales pipeline management, marketing automation, and customer service, enabling you to build and maintain strong customer relationships and drive revenue growth.
    • Integration capabilities: Robust integration capabilities, typically powered by application programming interfaces (APIs), allow seamless data exchange between your ERP system and other business applications, enabling interoperability across your enterprise ecosystem.
    • Compliance and security: The ERP system will include compliance features to adhere to regulatory requirements and industry standards, coupled with robust authentication and encryption protocols to safeguard sensitive data and protect against cyber threats and unauthorized access.
    • Multi-language and multi-currency support: These capabilities enable global operations by allowing users to work in their preferred language and currency, facilitating communication, transactions, and collaboration across diverse regions.
    • Customer support and training: Access to comprehensive customer support services (including training, documentation, and user communities) ensures that your users can effectively utilize the ERP system, resolve issues, and maximize its potential.

See More: 4 Ways Cloud-Native ERP Solutions Differ From Cloud-Hosted Solutions

Best ERP Systems for New Businesses

Companies starting out have a few but crucial ERP needs that call for robust software. In that case, you can consider the following top ERP vendors:

1. Acumatica

Acumatica, established in 2008, is a cloud-based ERP system designed to streamline business operations. It’s particularly advantageous for new businesses due to its scalability and flexibility.

You can customize Acumatica to suit your specific needs without extensive coding. Acumatica’s open API architecture also allows seamless integration with other applications, facilitating smoother workflows and data exchange. Its user-friendly interface and real-time analytics empower you to make data-driven decisions swiftly, but it’s meant mainly for US businesses.

2. QuickBooks

QuickBooks, founded in 1983, is a widely-used accounting software tailored for small and medium-sized businesses. As an ERP solution for new businesses, QuickBooks offers simplicity and accessibility.

QuickBooks lets you easily manage your finances, track expenses, generate invoices, and handle payroll. Its cloud-based version lets you access your financial data from anywhere, facilitating remote work and collaboration. QuickBooks also integrates with various third-party applications, extending its functionality to meet specific business needs.

Its user-friendly interface and intuitive design make it an ideal choice for entrepreneurs with limited accounting expertise, empowering them to manage their finances and focus on business growth efficiently. However, it is not suitable for manufacturing businesses.

3. Sage 100

UK-based Sage 100, previously known as Sage MAS 90 and 200, has been around since the late 1980s, offering robust ERP solutions for businesses of all sizes. For new ventures, Sage 100 shines by providing a comprehensive suite of tools backed by Sage’s massive technology portfolio.

You can tailor the system to match your specific workflows and business requirements, ensuring a seamless integration with your existing processes. Its advanced reporting capabilities and data analytics tools empower you to glean valuable insights from your data, aiding in strategic decision-making.

With its multiple deployment options, including on-premises and cloud-based solutions, Sage 100 provides the flexibility and functionality necessary for startups to thrive and grow.

4. Odoo ERP

Odoo ERP, developed by Odoo S.A., a Belgium-based company founded in 2005, is an open-source suite of business applications. It is an excellent ERP solution for new businesses due to its modular structure and affordability.

Odoo’s extensive range of modules covering various business functions makes it stand out. You can start with basic functionalities and gradually expand as your business grows, making it highly scalable. Moreover, Odoo’s intuitive drag-and-drop interface allows easy customization without needing extensive technical expertise.

It provides startups with a comprehensive yet flexible ERP solution to streamline their operations and drive growth, especially if you’re opening an ecommerce store.

5. Dolibarr ERP

Dolibarr ERP, developed by the French company Dolibarr SAS, is an open-source ERP and CRM solution established in 2003. It’s a compelling choice for new businesses seeking an intuitive yet powerful ERP system.

The unique thing about Dolibarr is its modular design, allowing you to tailor the software. You can start with core modules like invoicing, CRM, and inventory management, then seamlessly add more features as your business expands.

Dolibarr’s user-friendly interface simplifies complex tasks, enabling you to manage your operations efficiently. Its functionalities include project management tools, time tracking, and document management, all integrated into a single platform. However, due to its open-source architecture, you may have to work slightly harder to set up this ERP system.

See More: Your ERP System Is Up and Running. Now What?

Top ERP Tools for SMBs

Next, let’s turn to the best ERP vendors for small and midsize businesses (SMBs) who’ve established operations and are now eager to grow.

1. Sage Intacct

Sage Intacct, a product of Sage Group plc, is a cloud-based ERP solution specifically crafted for SMBs seeking advanced financial management capabilities. With a focus on streamlining accounting processes, it offers features like accounts payable, accounts receivable, and general ledger management.

What distinguishes Intacct is its robust reporting and analytics tools, enabling you to gain deeper insights into your financial performance. Its unique functionalities include multi-entity management, revenue recognition, and project accounting, making it an ideal choice for SMBs with complex accounting needs.

The system’s scalability allows you to adapt as your business expands, ensuring you always have the tools to manage your finances effectively. Again, it’s part of the Sage tooling ecosystem, so you can always ensure robust support and interoperability.

2. Deltek Costpoint

Costpoint by Deltek is a complete ERP solution for SMBs operating in the government contracting and professional services sectors. It excels in project management, resource planning, and financial management, helping businesses optimize operations and meet compliance requirements.

Deltek Costpoint’s unique functionalities include compliance tracking, time and expense management, and procurement, enabling SMBs to navigate complex regulatory landscapes easily. Its flexible architecture allows for customization of workflows and reports, ensuring alignment with your domain-specific requirements.

3. SAP Business ByDesign

SAP Business ByDesign, developed by SAP SE, is a cloud-based ERP solution designed to meet the comprehensive business management needs of SMBs. It integrates modules for finance, sales, procurement, and customer relationship management (CRM) into a unified platform, providing SMBs with a holistic view of their operations.

What sets SAP Business ByDesign apart is its built-in analytics—a common theme across all SAP products — enabling real-time insights and informed decision-making.

Its mobile access feature allows users to stay connected and productive from anywhere, while its scalability ensures flexibility as businesses evolve. With multi-language and multi-currency support, SAP Business ByDesign is particularly well-suited for SMBs with global operations or complex supply chains.

4. Epicor Eclipse

Epicor Software Corporation has developed the ERP solution Eclipse for wholesale distributors in the building materials and electrical industries. It offers a comprehensive suite of features, including inventory management, order processing, and pricing optimization, designed to streamline distribution operations and improve profitability.

Epicor Eclipse’s unique functionalities include electronic data interchange (EDI) integration, warehouse management, and supplier relationship management, addressing the specific needs of wholesale distributors. Its industry focus and deep functionality make it a preferred choice for SMBs looking to modernize their operations and gain a competitive edge in their markets.

5. XoroERP

XoroERP by Xoro Technologies is a cloud-based ERP system designed specifically for SMBs across various industries.

It offers a wide range of modules, including financial management, inventory control, production planning, and more, providing SMBs with the tools they need to streamline their operations and drive growth. XoroERP’s standout features include its user-friendly interface, customizable dashboards, and workflow automation capabilities, enabling SMBs to optimize processes and improve efficiency.

Its scalability and ease of use make it suitable for SMBs at various stages of growth, from startups to established enterprises.

See More: The Role of Cloud ERP in Minimizing Enterprise Risks

ERP Tools for Large Enterprises

ERP is a business staple for every large enterprise, and typically, in this segment, companies will consider implementing one of the following five platforms:

1. Microsoft Dynamics 365 Business Central

Microsoft Dynamics 365 Business Central is a cloud-based ERP solution built on MS Azure for medium-sized to large enterprises. It integrates seamlessly with other Microsoft products, such as Office 365 and Power BI, offering a familiar user experience.

What distinguishes Business Central is its comprehensive suite of modules covering financial management, supply chain, sales, and service. Its unique functionalities include built-in generative AI capabilities (Co-Pilot) for predictive analytics and intelligent insights.

2. NetSuite

NetSuite (now acquired by Oracle Corporation) is an enterprise-grade ERP system known for its scalability and comprehensive functionality. Designed for large companies, NetSuite offers modules for financial management, CRM, ecommerce, and supply chain management.

Its unified platform provides a single source of truth for all business operations. NetSuite’s advanced customization capabilities allow organizations to tailor the system to their specific needs, while its robust reporting and analytics tools enable informed decision-making.

With multi-language, multi-currency, and multi-country support, NetSuite is well-suited for large enterprises with global operations seeking to streamline processes and drive innovation.

3. SAP S/4HANA Cloud

SAP S/4HANA Cloud, developed by SAP SE, is an intelligent cloud ERP solution designed to meet the complex needs of large enterprises.

Powered by in-memory computing technology, it enables real-time processing and analysis of large volumes of data. S/4HANA Cloud offers advanced features such as embedded AI and machine learning capabilities for automation and predictive insights, enhancing productivity and decision-making.

Its modular architecture allows organizations to deploy specific functionalities as needed, providing flexibility and scalability. With its industry-leading security features and compliance certifications, S/4HANA Cloud ensures data integrity and regulatory compliance, making it a trusted choice for large enterprises operating in highly regulated industries.

4. JD Edwards EnterpriseOne

JD Edwards EnterpriseOne, part of the Oracle suite, is a comprehensive ERP solution for large manufacturing, distribution, and construction enterprises. It offers a wide range of modules covering finance, human resources, supply chain, and project management, with industry-specific features such as advanced planning and scheduling for manufacturing.

EnterpriseOne’s scalable architecture ensures performance and reliability even as organizations expand their operations. With its deep industry expertise and robust functionality, EnterpriseOne enables large enterprises to optimize processes, reduce costs, and improve customer satisfaction, driving sustainable growth and a competitive advantage.

5. Infor M3

Infor M3, developed by Infor, is a powerful ERP system designed for large manufacturing, distribution, and service enterprises. It offers flexible deployment options, including on-premises, cloud, and hybrid cloud models, to accommodate diverse organizational needs.

M3 provides domain-centric features such as advanced planning and scheduling for manufacturing and warehouse management for distribution, enabling organizations to streamline operations and improve efficiency. With its built-in business intelligence and analytics capabilities, M3 empowers large enterprises to gain actionable insights from their data.

See More: How to Update Legacy ERPs in the Digital World

Takeaway: Choosing the Best ERP for Your Business

Choosing the best ERP for your business is a critical decision that can significantly impact your operations and overall success. Start by assessing your specific business needs and goals. Consider factors such as the size of your organization, industry requirements, and scalability. Look for an ERP system that aligns with your long-term growth strategy and can adapt to evolving business needs.

Next, evaluate the features and functionalities offered by each ERP solution. Pay close attention to modules relevant to your business processes, such as finance, supply chain, CRM, and manufacturing. Ensure the ERP you choose provides robust reporting and analytics tools to help you gain insights and make data-driven decisions. Additionally, consider factors like ease of use, customization options, and integration capabilities with other software applications you use.

Ultimately, choose an ERP that meets your current needs and empowers you to innovate, streamline processes, and drive business growth.

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