With competition becoming stiffer each day, firms globally are aiming to optimize their resources. While several firms are thinking of using Enterprise Resource Planning (ERP) software for better control over resources, most stakeholders are avoiding large investments, especially during this pandemic.
Investing in ERPs during these trying times is a wise decision as it reduces wastage, improves control over resources, and improve process efficiency. You can know the benefits of using ERPs in detail through this blog. More than half of IT decision-makers consider ERPs to be an essential investment, along with CRM software. However, choosing a good ERP for your organization is tricky since you have to consider the modules provided, hidden costs, and extra services.
If you are thinking of empowering your organization with a suitable ERP software, it is wise to go for established and well-known providers with a proven track record of success. In this post, we would be discussing the most bankable names in the realm of modern ERP software and discuss what they offer to their clients. This will help you pick the best ERP software for your business needs and optimize resource utilization.
So let’s have a look at the best ERP manufacturing companies that you can invest in for a prosperous 2021.
Oracle ERP Cloud:
Oracle is one of the biggest names in ERP software, offering numerous customized functionalities to large enterprises. It recently acquired NetSuite, marking its foray into SaaS-based tools.
Oracle offers compact yet integrated tools to manage critical modules like procurement, finance, risk, and project management combined with performance and inventory management. Using machine learning and AI simplifies multiple tasks for several globally-renowned organizations and has won many accolades.
With real-time dashboards, pre-configured workflows, KPIs, and multiple functional roles, Oracle offer much flexibility and control to organizations, enabling them to implement changes quickly and efficiently.
Another forerunner in the ERP industry, Microsoft’s 365 Business Central is created for SMEs and mid-market enterprises. Recently upgraded with Azure, it’s dedicated SaaS model is widely accepted globally.
Microsoft’s ERP suite is based on several industry best practices, and its robust offerings are highly customizable. For firms already using Microsoft technologies, this ERP suite can mean easy transition, more stability, and better assistance.
Created for industries such as construction, manufacturing, infrastructure, defense, and aerospace, IFS specializes in taking heavy workload for organizations having a global footprint. The company boasts robust and comprehensive end-to-end functionalities that cater to organizations producing or dealing with large consumer durables.
IFS is renowned for managing the following domains:
- Enterprise Operational Intelligence
- Enterprise Resource Planning
- Enterprise Asset Management
- Maintenance Management
- Service Management
- Application and Cloud Management
This ERP system is designed for small scale businesses and manufacturers and can be customized as per clients’ convenience. It is well-suited to organizations who need to handle loads of manufacturing and assembling orders and provides the following modules:
- Production Management
- Business Intelligence
- Planning & Scheduling
- Quotation Management
- Accounting Management
- Sales & CRM Management
- Maintenance / Service Managers
- CAD Integration
- Pricing & Invoice Management
Sage’s enterprise resource planning software has a global reputation for empowering start-ups and large corporations with enhanced monitoring facilities and sophisticated processes. It’s intuitive UI and attention to detail have earned high adoption rates in several industry domains.
Sage offers three ERP variants: the Sage 100 Cloud, the Sage 300 Cloud, and Sage Cloud X3 that adeptly handle modules like sales, distribution, customer service, and manufacturing.
Another rapidly emerging ERP manufacturer, Infor offers specialized solutions for the unique needs of businesses. For example, the Infor CloudSuite Distribution helps distributors detect and monitor demand for inventory.
Infor’s applications help streamline the supply chain and help implement new developmental strategies. It also offers a dedicated industrial module with an open-source technology stack that allows users to modify them as per their manufacturing needs.
Originating in Germany, SAP has been a frontrunner for large corporations, assisting them in doing more with fewer resources. Though SAP users have to deal with lengthy implementation times, it provides excellent results post its successful implementation.
SAP is known for quick data retrieval and seamless relay, which is achieved through relational technology. It provides both on-premise and cloud-based solutions that help consolidate tasks and manage multiple verticals simultaneously.
Workday has been a favorite of medium and large enterprises for a long. It recently evolved into a more comprehensive ERP solution that offers greater flexibility to its users. With an emphasis on financial management, Workday provides customized solutions to the following business types:
- Life Sciences
- Communication & Entertainment
Serving as an inspiration to many, Epicor has been a leader in optimizing supply chain and retail operations. It recently joined hands with Microsoft and is pooling its resources towards R&D for future improvements.
Epicor offers multiple deployment models and products such as the Epicor 10, Prophet 21, and the Epicor Eagle N, which help firms with manufacturing, supply chain, and POS.
Deltek has made a firm footing in the ERP market with its flexible solutions for both small and large enterprises. You can choose its basic or advanced functionalities according to your operational and regulatory needs. You can use Deltek’s solutions for industry-specific invoicing, accounting, manufacturing, and financial management needs.
Deltek offers solutions for the following modules:
- Resource Management
- Pipeline & CRM Management
- Project Management
- Financial Management
- Business Intelligence & Reporting
The above providers are the most reliable ERP software in recent times, and picking them can significantly help your organization get an efficiency boost. However, you should evaluate your organization’s needs, the latest ERP trends, price, and integrations available before making a final choice.
ERPs are a huge investment for companies, both monetarily and otherwise. They involve a lot of resources and take a significant amount of time to set up. With the variety and specializations available in ERP software today, it is easy to go wrong. To avoid being stuck with the wrong ERP tool for a long time, it is wise to test the software beforehand. Hence, pick an agency that offers you a free trial before you make a purchase.
Most of the manufacturers mentioned above offer free trials for their software for up to two weeks. This allows potential buyers to check the suitability of the ERP with their existing systems and organizational needs, helping them make an informed choice and improving their organizational efficiency.