Running a small business comes with its own set of challenges, from keeping track of inventory to managing finances to customer orders – things can go chaotic really fast!
And that is where the need for a robust Enterprise Resource Planning (ERP) system for your business comes into the picture!
The ERP system can be understood as the nervous system of your business, connecting different processes and automating crucial tasks. However, in order to leverage the most out of ERP technology, investing in the right ERP is a must.
So, in this blog, we’ll give you the list of the best ERP systems in 2024 for small companies.
1 .Oracle NetSuite
Oracle NetSuite is a cloud-based enterprise resource planning software built for all sizes of businesses. It comes as a comprehensive suite of integrated business apps, making it an ideal choice as ERP software for small businesses. Oracle NetSuite helps businesses improve their efficiency, gain better visibility into the business, and drive growth with the automation of crucial processes, robust reporting, and analytic tools.
| Features of Oracle NetSuite | Challenges NetSuite ERP Solves |
|---|---|
| Accounting Software | Manual Processes |
| Financial Management | Data Accessibility |
| Enterprise Performance Management | Data Integrity |
| Inventory Management | Meeting Expectations |
| Supply Chain Management | Balancing Supply and Demand |
| Warehouse Management | Inventory Insight |
| Procurement | |
| Order Management |
How Much Does Oracle NetSuite Cost?
Oracle NetSuite has an annual license fee, which majorly depends on three major components – number of users, optional modules, and core platform.
2. Infor
Infor is another popular ERP system for small businesses and enterprise-level companies. Its widespread popularity is due to its offering of industry-specific cloud-based ERP solutions, including Infor Clouding Suite, Infor LN, and Infor M3. The ERP comes with a multi-tenant cloud that is securely hosted on Amazon Web Services (AWS). Infor’s capabilities extend to financial management, supply chain management, and manufacturing capabilities.
| Features of Infor | Challenges Infor ERP Solves |
|---|---|
| Finance and Accounting | Discrete Manufacturing Processes |
| Supply Chain Management | Consumer Demand & Experience |
| Planning and Scheduling | Financial and Professional Services |
| Project Management | |
| Customer and Order Management |
How Much Does SAP Business One ERP Cost?
The total cost of ownership for Infor ERP isn’t fixed. It depends on various factors from industry to business size to module selection to organizational makeup. In addition, there is also user-based pricing that adds up to the ownership cost.
3. SAP Business One
SAP Business One is a powerful and adaptable ERP for small and medium enterprises. It helps businesses optimize operations, enhance efficiency, and get better control over financial and business data. With SAP Business One, you can integrate various business functions into a single system, from financial and accounting to sales, inventory, customer relationships, and sales.
| Features of SAP Business One | Challenges SAP Business One ERP Solves |
|---|---|
| Financial Management | Global Presence and Partnerships |
| Sales and Customer Management | Cloud Adaptability |
| Purchasing and Inventory Control | Errors in Financial Management |
| Business Intelligence | Manual Management |
| Analytics and Reporting | Manual Data Collection |
| Delay in Coordination/Miscommunication |
How Much Does SAP Business One ERP Cost?
SAP Business One offers three different packages – Growth (4-10 users), Professional (11-50 users), and Enterprise (51-250 users). For all the packages, the monthly subscription cost is $149 per user. However, the implementation costs vary for all packages – Growth ($40,000), Professional ($4,000 per user), and Enterprise ($3,500 per user).
4. Sage Intacct
A Sage product, Sage Intacct is one of the best ERPs for small businesses, keeping its capabilities and features into consideration. Sage Intacct is built as a complete accounting, payroll, and payment solution. It helps businesses focus on their financial management and accounting. With its robust capabilities like advanced reporting, real-time data view, and multi-entity management, you get comprehensive visibility and control over your finances.
| Features of Sage Intacct | Challenges Sage Intacct ERP Solves |
|---|---|
| Multi-Entity and Global Consolidation | Inefficient Project Management |
| Project Accounting | Limited Visibility |
| Spend Management | Security Issues |
| Financial Planning Budgeting | Communication Challenges |
| Financial Reporting | No Integration |
| Inventory Management | Lack of Automation |
| SaaS Intelligence | Limited Scalability |
How Much Does Sage Intacct ERP Cost?
Just like most ERPs, Sage Intacct software pricing plans also depend on modules and advanced functionalities you want to include to cater to your unique business needs.
5. Acumatica
Acumatica is another popular choice amongst small businesses for an ERP system. If you’re looking for flexibility and adaptability, Acumatica should be your top pick. Built for small and mid-sized businesses, Acumatica aims for digital resilience. It offers a complete suite of integrated apps, allowing businesses to manage various processes more effectively, such as finance, project accounting, distribution, and customer relationship management.
| Key Features of Acumatica | Challenges Acumatica ERP Solves |
|---|---|
| Financial Management | Cloud Flexibility |
| Inventory Management | Licensing |
| Customer Relationship Management | Quick Customization and Integration |
| Project Accounting | Communication Between Departments |
| Payroll Management | Data Security and Accuracy |
| Reporting and Business Intelligence | Business Intelligence |
How Much Does Acumatica ERP Cost?
Unlike other ERPs, Acumatica’s pricing structure is different and tailored to your usage. It is based on three simple factors – Applications, Projected Resource Consumption, and License.
6. QuickBooks Enterprise
If you’re looking for a user-friendly ERP system that can be scaled to accommodate the growing needs of the company in the future, QuickBooks Enterprise is your pick. The ERP can be used to manage your finances, inventory, sales, and other crucial business processes. QuickBooks, as one of the top ERPs for a small company, focuses on essential needs such as managing accounts payable, providing bank reconciliation tools, simplifying tax processes, and offering detailed reporting.
| Key Features of QuickBooks Enterprise | Challenges QuickBooks Enterprise ERP Solves |
|---|---|
| Advanced Inventory | Integration Limtations |
| Advanced Reporting | Limited/Inaccurate Cash Flow |
| Payroll | Paperwork Errors |
| Payments | Unified Access |
| Cloud Access | Inventory Management |
| Order Management |
How Much Does QuickBooks Enterprise ERP Cost?
QuickBooks Enterprise offers three different pricing packages – Gold, Platinum, and Diamond. The Gold Package starts at $1922 per year, the Platinum Package starts at $2363 per year, and the Diamond Package starts at $4668 per year.
7. Odoo ERP
More and more businesses are preferring Odoo as their go-to ERP system, making it one of the fastest-growing ERP systems for small and mid-size businesses. It comes as a comprehensive, open-source solution designed to meet your business needs. It is also touted as the best ERP software for manufacturing businesses. Odoo offers an array of fully integrated applications that allow you to get a comprehensive suite to manage your business processes. In addition, you can customize the ERP to your own needs because of its modular structure.
| Key Features of Odoo | Challenges Odoo ERP Solves |
|---|---|
| Supply Chain Management | Restricted Adaption |
| Finance & Operation Management | Maintaining Inventory Levels |
| Business Central | Accurate Reporting |
| User-Friendly Interface | Real-time Data Access |
| Reporting and Analytics | Material Requirement Planning |
| Mobile Support |
How Much Does Odoo ERP Cost?
Odoo is probably the most cost-effective ERP on this list. It also has three different packages – One App Free, Standard, and Custom. As the name suggests, the One App Free package is free for one app only and comes with unlimited users.
The Standard package starts at $7.25/user/month in Tier 3 countries, $13.50/user/month in Tier 2 countries, and $24.90/user/month in Tier 1 countries with access to all apps.
The Custom package starts at $10.90/user/month in Tier 3 countries, $20.40/user/month in Tier 2 countries, and $37.40/user/month in Tier 1 countries.
Conclusion
Whether you have started a business or are planning to scale your operations, the right ERP for your business is one that fits into your budget and meets your unique business needs. And if you’re still not sure which ERP to go with, Greytrix has got you covered. We understand that choosing the right ERP is a crucial decision, but it doesn’t have to be overwhelming.
Let’s find you the right ERP for your small business – give us a call at +1 888 221 6661 or reach out to us at na.sales@greytrix.com to get started!