Choosing the right enterprise resource planning (ERP) software can be a daunting task with so many options in the market.
Each ERP system comes with some discrete benefits and drawbacks.
Let’s guide you in choosing the best ERP system for your manufacturing business.
1). Info Cloud Suite
Infor ERP is one of the leading software providers for managing business-wide needs for the manufacturing sector and many others.
It offers robust and cloud-based ERP software specifically designed for the manufacturing industry. The Infor software is built on Amazon Web Services (AWS).
Infor ERP products also include:
- Infor LN and M3
- Infor Industrial Cloud Suite
- Infor Cloud Suite financials
- HCM, PLM, WFM, and MES systems for various business segments
Some key features of Infor ERP software include:
- Finance & Accounting
- Supply Chain Management
- Project management
- Planning
- Customer and order management
- Cloud-based and premise-built solutions
- Specifically built ERP for manufacturing businesses
Pros Explained:
- It offers cloud integration as well as in-house customization.
- It offers a wide range of services and solutions for all business segments.
- It provides industry-leading analytics and business overview.
- The ERP is customizable and adapts to the needs of the business users.
Cons Explained:
- Infor does not disclose its pricing methodology.
- Its Excel integration lags sometimes.
- It may be a costly option for medium or small businesses.
2). Oracle ERP
Oracle ERP is one of the leading enterprise management software out there in the market. It is a suite of software products helping large businesses to meet their enterprise management needs.
It is a cloud-based software managed by Oracle itself. Oracle also offers several other types of industrial solutions including supply chain management, financial management, customer relationship, etc.
Some key features of Oracle ERP include:
- Oracle Supply chain, Project Management, and financial cloud solutions in one place.
- Planning, Account reconciliation, financial consolidation, and closing reports.
- Profitability and Cost management
- Tax reporting
- Enterprise data management (EDM)
- It offers a comprehensive solution for businesses as they grow with modular, comprehensive, powerful, unified, and flexible models.
Pros Explained:
- A leading software as a service (SAAS) solution for businesses across the globe.
- It is developed and managed by the industry leader Oracle.
- It offers a simple and transparent pricing model.
- Businesses can scale and customize the deployment of this ERP as they grow.
- Automatically updated as and when released by Oracle.
Cons Explained:
- Some users complain about integration and customization issues due to a lack of flexibility in this ERP system.
- Oracle ERP does not offer on-premise solutions.
- It can be hard for medium-sized businesses to deploy with a lack of knowledge and expertise.
3). SAP S4/HANA ERP
SAP has developed several ERP systems over the years for businesses of all sizes and industries.
SAP S4/HANA is a cloud-based ERP software offered in two versions. Its public version is cloud-based software that any business can use.
If you need a private and customized solution, you can choose the SAP S4/HANA private edition too.
Some key features of S4/HANA ERP include:
- Financial management
- Inventory management, supply chain, purchasing, and manufacturing management tools.
- Sales and customer support management
- Report creation, data analysis, planning, and forecasting tools
- Industry-specific insights, data visualization, and reporting
Pros Explained:
- A complete EPR, cloud-based, and AI-powered solution for businesses of all sizes.
- It offers two versions for better control with a public and another customized or private version.
- It helps you manage business growth, manage operations, generate data analysis, adapt to industry trends, and scale as you grow.
- It offers innovative technology, AI-driven data analytics, and integration options for improved business efficiency overall.
- Small businesses can opt for other ERPs from SAP like SAP Business One.
Cons Explained:
- It may prove costly to adapt and deploy the S4/HANA ERP system for most businesses.
- It’s difficult to implement and learn for new businesses or even transitions.
- Businesses may require extensive training and expertise to implement S4/HANA.
- Some businesses may face compatibility issues with their existing ERP systems when transitioning to S4/HANA.
4). NetSuite ERP
NetSuite was acquired by Oracle and it now combines the powerful technologies from both companies.
Oracle’s Netsuite ERP is also a cloud-based business management system. It is offered all over the world and supports all major currencies and languages.
Some key features of NetSuite ERP include:
- Accounting software and financial management
- Global business management system
- Inventory and order management
- Supply chain and warehouse management
- Professional service automation
- Human Resource Management
- E-Commerce solutions
- Planning and budgeting
Pros Explained:
- It offers an all-in-one business management solution for businesses of all sizes.
- Netsuite ERP’s integration capabilities enhance its functionality.
- It is fully customizable and scalable as your business grows.
- Improved business decisions and business operation management.
- It provides a powerful suite of financial management, data analytics, and reporting tools.
Cons Explained:
- Its pricing model is subscription-based or costs as you grow and use modules.
- Full customer support is available only for higher subscription plans.
- Data analysis, reporting, and customization may be difficult for many users.
- It may not be easy to implement without training.
5). Acumatica ERP
Acumatica is another powerful and cloud-based ERP software. It offers a customizable ERP solution for small and large businesses alike.
Unlike many other leading ERP systems, Acumatica can be used on the cloud or installed on the local server of a company. It means you can upgrade it to the latest version whenever required.
Some key features of Acumatica ERP:
- Accounting and financial management
- Customer relationship management (CRM)
- Customized solutions for construction, manufacturing, and distribution segments.
- Payroll
- E-commerce
Pros Explained:
- It offers cloud and local server-based installations.
- Its third-party integration abilities enhance its functionality.
- It offers upgradation options manually.
- Its pricing model is fully customizable for businesses of all sizes.
- It empowers businesses with industry-leading tools.
Cons Explained:
- More third-party integrations and customization options mean a complex installation process.
- The pricing plans can be confusing for some users.
- The developer is still new in the market.
6). Microsoft Dynamics 365
Microsoft’s Dynamics 365 is another comprehensive and fully customizable ERP solution for businesses across the globe.
It empowers businesses with cloud-based or on-premises installation with fully scalable solutions. You integrate with other Microsoft and third-party apps to improve the functionality of this software too.
Key features include:
- Finance management
- Sales and marketing
- Purchasing, inventory, and supply chain management
- Project management, warehouse management, and service management
- Two versions for matching the needs of businesses
- An unlimited number of users and companies.
Pros Explained:
- It offers a comprehensive end-to-end business management suite of tools.
- It provides powerful data insights and analytical tools.
- It comes with loaded features of customization and flexibility.
- Implementation and migration to this software are easy.
- It offers excellent customer support through dedicated service centers from Microsoft.
Cons Explained:
- Understanding this ERP and implementation may prove challenging for some users.
- The pricing model can be confusing at times.
- Some users have complained about performance issues.
7). SYSPRO ERP
SYSPRO has been in the industry for over 40 years. Its ERP system is backed by its industry expertise and experience.
Moreover, it offers customization and scalability through its different packages to meet the needs of all businesses.
Some key features include:
- Order Management
- Planning and Scheduling
- Inventory and Supply Chain management
- Traceability, cost, and Production Controls.
- Business operations, finance management, procurement management.
- Warehouse management
- Business and data insights
Pros Explained:
- It offers highly flexible and agile ERP solutions.
- It can be installed and used on-premise or cloud basis.
- It offers several additional packages to break the total cost into smaller portions.
- It allows third-party app integrations for improved productivity.
Cons Explained:
- The full functionality of this ERP can be achieved with the priciest plans only.
- More customization options also mean complex installations.
- Learning and deploying this ERP can be challenging for growing businesses.
8). IFS ERP
IFS AB is another established name in the enterprise resource planning software solution industry. It offers ERP, EAM, ESM, CEM, and field management services for over 4 decades now.
Some key features and capabilities of the IFS ERP include:
- Accounting and financials
- Engineering, Project Management, and Manufacturing
- Supply Chain and Inventory Management
- Customer Relationship Management
- Document management
- Business process controls
- Asset lifecycle management
Pros Explained:
- IFS ERP is built on open-source technology, which enhances its security.
- It is built on the cloud and can be customized on an on-premise basis.
- It offers an intuitive and user-friendly dashboard.
- Its customer support is excellent.
Cons Explained:
- Its dashboard lacks an agile search feature.
- It lacks customization and flexibility with no integration options.
- It does not disclose the pricing models.
- The technical support for migration and new implementations needs improvement.
9). Epicor Kinetic ERP
One of the biggest advantages of using Epicor Kinetic EPR is that it offers a specialized version for the manufacturing industry.
The company embeds its extensive experience and industry background in manufacturing business to build an excellent ERP system.
Key Features:
- Local and global supply chain management
- HR, accounting, and finance management
- Product and manufacturing operations management tools
- Customer relationship management
- Risk and Compliance tools
- Services and Asset management tools
Pros Explained:
- It provides extensive business solutions with its ERP system.
- Epicor Kinetic is specifically designed for manufacturing businesses.
- The company offers extensive documentation, customer support, and training for its customers.
Cons Explained:
- The ERP software may not be useful for small and medium businesses due to its complexity.
- It lacks a few basic features like flowcharts in its dashboard.
- Integrating its several modules can be a challenging task for some users.
10). Sage X3
Sage X3 comes with the brand name Sage. It is an advanced software built for medium and large businesses for managing business operations in one place.
Some key features of Sage X3 include:
- Production management
- Supply Chain Management
- Financial Management
- Purchasing, Inventory management, and Cost Control
- Data Analytics and Reporting features
- BOM and Project Management
Pros Explained:
- It offers an all-in-one software solution for businesses in any industry.
- Its third-party app integrations improve functionality.
- It offers excellent customer support for implementation and training.
- Users can deploy this software through cloud or on-premise basis.
Cons Explained:
- Small businesses may be better of with Sage Intacct.
- The user interface and its dashboard may lack some key features.
- Users may have to pay more through third-party app integrations.
- It does not include automatic software updates.
