Enterprise Resource Planning (ERP) Software for SMBs FAQ

Introduction

In today’s fast-paced business environment, small and medium-sized businesses (SMBs) need efficient and comprehensive software solutions to manage their back-end operations. Enterprise Resource Planning (ERP) software is designed to meet this need by providing a range of tools that cover everything from basic accounting to human resources (HR) operations and supply chain management.

To help SMBs choose the right ERP solution for their business, we have evaluated and ranked the best ERP systems available in the market today. Our software review methodology takes into account factors such as scalability, customization options, financial management capabilities, CRM features, open-source flexibility, suitability for small businesses, industry-specific modules, and multilingual support.

1. Dynamics 365 – Best Overall

Why we chose it:

Dynamics 365 Business Central is our top pick for the best overall ERP solution for SMBs. It offers a comprehensive suite of tools that include financial management, inventory management, project management, sales and purchasing, and customer relationship management (CRM).

What We Like:

• Powerful mobile access allows users to manage their business operations on the go.
• Highly scalable solution that can be adapted to align with unique business workflows.
• Wide range of features that cater to the needs of SMBs across various industries.

What We Don’t Like:

• Not ideal for businesses with complex manufacturing needs.
• May require extensive training to fully utilize the software.
• No free version available.

Pricing:

• Price Range: $$$
• Starting Price: $70/user/month
• Client OS: Web
• Deployment: Cloud or On-Premises

2. NetSuite – Most Customizable

Why we chose it:

NetSuite is our top pick for businesses looking for customizable ERP solutions. It offers a range of tools and features that can be tailored to provide the optimal fit for both B2B and B2C companies.

What We Like:

• Large number of available modules that can be customized to meet specific business needs.
• Cloud-first solution that provides flexibility and scalability.
• Industry-specific customizations that cater to the unique requirements of different sectors.

What We Don’t Like:

• Pricing details must be obtained through a consultation.
• Setup process can be tedious.
• Building reports can be challenging.

Pricing:

• Price Range: $$$$
• Starting Price: $99/user/month
• Client OS: Web
• Deployment: Cloud Hosted

3. Sage Intacct – Strong Financial Management

Why we chose it:

Sage Intacct is our choice for its advanced financial management capabilities. It offers a multi-dimensional general ledger that tracks financial data based on multiple dimensions, enabling detailed financial reporting and analysis.

What We Like:

• Multi-dimensional reporting capabilities that provide insights into the performance of different business segments.
• Scalability for multi-entity support and user growth.
• Simple and responsive user interface.

What We Don’t Like:

• Budgeting and interactive reporting cost extra.
• Limited non-financial functionalities.
• Volume exports can be difficult.

Pricing:

• Price Range: $$$
• Starting Price: $8,580/year
• Client OS: Web
• Deployment: Cloud Hosted

4. SAP Business One – Best CRM Features

Why we chose it:

SAP Business One stands out for its CRM features, offering marketing campaigns, customer master data management, and opportunity and sales management in a central platform.

What We Like:

• Highly customizable solution that can be integrated with CRM and eCommerce platforms.
• Real-time data insights that help businesses make informed decisions.
• Integrations with various third-party systems.

What We Don’t Like:

• Pricing details must be obtained through a phone consultation.
• Setup usually requires assistance from a Value Added Reseller (VAR).
• No payroll module included.

Pricing:

• Price Range: $$$$
• Starting Price: $410/user/year
• Client OS: Windows
• Deployment: Cloud or On-Premises

5. Odoo – Best Open Source Solution

Why we chose it:

Odoo is our top pick for the best open-source ERP solution. It offers unparalleled flexibility and adaptability, allowing businesses to access and customize the source code to fit their specific needs.

What We Like:

• Community version is free and provides a solid foundation for customization.
• Large and active community of developers and users who share knowledge and best practices.
• Heavy customization options that help businesses create a system that meets their unique requirements.

What We Don’t Like:

• Building specific modules may require technical expertise.
• No centralized support, relying on community forums for assistance.
• Upgrades may not be free and may require additional work.

Pricing:

• Price Range: $$$
• Starting Price: $25/user/month
• Client OS: Web
• Deployment: Cloud or On-Premises

6. Acumatica – Best for Small Businesses

Why we chose it:

Acumatica is a good choice for small businesses due to its resource-based pricing model. It allows small companies to pay for the resources they actually use, making it a cost-effective solution.

What We Like:

• Made specifically for small to midmarket businesses.
• Multiple editions available to cater to different business needs.
• Open architecture allows for rapid integrations with third-party systems.

What We Don’t Like:

• Pricing details must be obtained through a consultation.
• High learning curve for users unfamiliar with the software.
• Setup process can be tedious.

Pricing:

• Price Range: $$$$
• Starting Price: $1,800/month
• Client OS: iOS, Android, Web
• Deployment: Cloud or On-Premises

7. SYSPRO – Best for Distribution

Why we chose it:

SYSPRO caters to the unique needs of distribution companies, offering specialized modules for compliance regulations, quality control, and traceability. It integrates key business areas like finance, inventory management, sales, purchasing, production planning, and CRM into a centralized system.

What We Like:

• Mostly straightforward and user-friendly interface.
• Accessible from any device, allowing for remote management.
• Built with over 40 years of manufacturer and distributor expertise.

What We Don’t Like:

• Some third-party add-ons may be necessary for specific functionalities.
• Difficult to customize without technical expertise.
• No built-in payroll or HR modules.

Pricing:

• Price Range: $$$$
• Starting Price: $199/user/month
• Client OS: Windows, Web
• Deployment: Cloud or On-Premises

8. Epicor Kinetic – Best for Manufacturing

Why we chose it:

Epicor Kinetic is our top pick for small to medium-sized businesses in discrete manufacturing environments. It offers industry-specific features such as compliance management, planning and scheduling, supply chain management, quality assurance, and maintenance management.

What We Like:

• Built specifically for manufacturers.
• Collects real-time shop floor data for better visibility and control.
• Built-in artificial intelligence support for advanced analytics and insights.

What We Don’t Like:

• Not ideal for multinational organizations with complex requirements.
• Steep learning curve for users new to the software.
• Limited flexibility for customization.

Pricing:

• Price Range: $$$$
• Starting Price: $175/user/month
• Client OS: Windows, macOS, iOS, Android, Web
• Deployment: Cloud or On-Premises

9. Striven – Best for Project-based Businesses

Why we chose it:

Striven is particularly suited for small to medium-sized service and project-based businesses that are transitioning from spreadsheets to a unified ERP system. It provides a cloud-based platform that combines various business management tools, including accounting, CRM, project management, HR, and inventory management.

What We Like:

• Automated workflows that streamline business processes.
• Mobile responsive design for easy access from any device.
• API access for seamless integration with third-party systems.

What We Don’t Like:

• No native payroll system included.
• Phone support is only available in priority support option.
• No critical path management functionality.

Pricing:

• Price Range: $$
• Starting Price: $35/user/month
• Client OS: Web
• Deployment: Cloud Hosted

10. ERPNext – Best for Global SMEs

Why we chose it:

ERPNext is an optimal ERP solution for small and medium-sized enterprises (SMEs) operating on a global scale. Its multilingual support, combined with its comprehensive suite of business management tools, makes it a fitting choice for companies with a diverse workforce or those operating in multiple countries.

What We Like:

• Free open-source version available with affordable managed hosting options.
• Comprehensive suite of tools that cover various business functions.
• Designed to meet the complex needs of SMEs in various sectors.

What We Don’t Like:

• May require building specific modules to meet unique requirements.
• No centralized support, relying on community forums for assistance.
• Upgrades may not be free and may require additional work.

Pricing:

• Price Range: $$$
• Starting Price: Free (Community Version)
• Client OS: Web
• Deployment: Cloud or On-Premises

In conclusion, choosing the right ERP software for your SMB is crucial for streamlining your business operations and improving efficiency. Consider your specific business needs and requirements, and evaluate the features and capabilities of each ERP system to make an informed decision. With the right ERP solution, you can effectively manage your finances, inventory, projects, sales, and customer relationships, leading to increased productivity and profitability.