Enterprise resource planning (ERP) systems have become increasingly popular in recent years as businesses look for ways to streamline their operations and improve efficiency. An ERP system integrates all the different parts of a business into a single, cohesive system, allowing for better management of resources, data, and processes.
With the rapidly changing business landscape, it's important for businesses to stay up-to-date on the latest ERP systems and technologies.
Here are some ERP systems to watch in 2023:
Leading the Pack: Oracle NetSuite
This cloud-based ERP system is a popular choice for businesses of all sizes, from small startups to large enterprises. It offers a wide range of features, including financial management, inventory management, and e-commerce capabilities.
NetSuite is currently the market leader for Cloud ERP solutions, outselling SAP, Microsoft Dynamics and other ERP solutions due to its advanced feature and module offerings, simplified licensing and pricing structure and highly aligned industry-specific solutions.
NetSuite is the world's most widely implemented ERP across a number of industries including manufacturing, wholesale distribution, retail and e-commerce, professional services, healthcare and life sciences, hospitality and non-profit organizations.
This is the latest ERP offering from SAP, one of the leading providers of business software. S/4HANA is a next-generation system that uses in-memory technology to provide real-time data access and analysis. It's designed to be scalable and flexible, making it a reasonable fit for most businesses of all sizes and industries.
Microsoft Dynamics 365
This cloud-based ERP system offers a wide range of tools for managing finance, operations, and customer relationships. It's well-suited for businesses that use Microsoft products and technologies, as it integrates seamlessly with other Microsoft services like Office 365 and Power BI.
Infor CloudSuite is designed specifically for mid-sized businesses. It offers a range of tools for managing finance, operations, and supply chain, as well as industry-specific functionality for industries like manufacturing, distribution, and healthcare.
This ERP system is designed for manufacturers and distributors. It offers a number of modules to manage most businesses ERP requirements including accounting and finance, customer relationship management, inventory and warehouse automation and basic project functionality.
In summary, ERP is becoming increasingly important for businesses to stay on top of their operations and remain competitive in the market. There are a number of ERP systems available, however NetSuite is the clear market leader for most industries and business sizes. Over the past 20 years, NetSuite has asserted its dominance in the cloud ERP war, being further strengthened by its acquisition by Oracle in 2016. NetSuite is followed by SAP S/4HANA, Microsoft Dynamics 365 and Infor CloudSuite as suitable options for some businesses of varying sizes. Epicor ERP is a great option for unique manufacturers that need to manage complex operations.
Overall, the right ERP system can provide a huge advantage to businesses in 2023, so it's important to select the one that fits your business's needs. By carefully evaluating and selecting the right ERP for your business, you can ensure that you are making the most of available technology and staying competitive in the market. 2023 is sure to be an exciting year for ERP systems, so keep an eye out for any new developments.