The Most Common Types Of ERP in 2024

The Most Common Types Of ERP in 2024 post image

Standing for Enterprise Resource Planning, an ERP software is an efficient way of automating and simplifying the way a business or organisation manages its resources. But if you are looking at ERP system examples, you might find yourself overwhelmed by the great number of options available.  

What is ERP software and what can it do for your business

Enterprise Resource Planning software aims to improve the organisation of resources within a company, so that more can be accomplished with less. An ERP does this by gathering measurable data across departments (from accounting to supply chain, including Human Resources) and transforming it into metrics that will give a manager or business owner an overview of their team’s performance compared to the usage of said resources.  

This is a great solution for businesses both big and small that want to cut costs without sacrificing quality and performance. You can read more here about how ERP systems help businesses improve the way they plan and control their resources whilst saving time and effort by automatically merging their data into one centralised database, accessible at all times. 

Best ERP system examples in 2024

When it comes to choosing an ERP software for your business, you should consider: 

  1. Whether they are industry-specific, which might affect the way they present features such as project management, or accounting; 
  1. Whether they are specific for small or large businesses; 
  1. Whether they are customisable and how easy it is to adapt them to your business; 
  1. Whether they require private hosting or are cloud-based. 

The most common types of ERP deployment

To understand what are the best ERP system examples available, first we need to address the four different types of ERP systems deployment. 

On-premise  

An Enterprise Resource Planning software that is hosted and installed in the company’s own servers. They require a large initial investment in the software and equipment, as well as in hiring and maintaining an IT team to solve issues, customise, and update the software. However, it allows a company to not be dependent on a software that might be affected by Internet outages or cyberattacks, especially if their databases hold very sensitive information. 

Cloud-based 

A cloud-based ERP system it’s set up in a cloud provider’s servers, which makes it available at any time from any device with an Internet connection. This type of ERP software doesn’t require a big initial investment, since users can usually choose from different billing plans, or the help of an IT team to manage it, as the providers usually offer training and customer support for doubts and modifications. However, it might be less customisable. 

Hybrid

This type of ERP system combines cloud systems with the use of on-premise infrastructure. It means the company doesn’t need to own its own servers and IT equipment to use the ERP system while having more control over the software features, for which it still requires the help of dedicated IT staff. 

Multi-cloud

A multi-cloud ERP system integrates different services and applications from more than one cloud provider, to combine the power of the ERP software with the solutions offered by a third-party.  

2024 list of the best ERP system examples

1. Oracle ERP Cloud 

Oracle ERP Cloud provides comprehensive solutions including financial, HR, manufacturing, and supply chain management, with scalability and support from their renowned team. It is a versatile software employing AI and machine learning for automation across industries. It offers features like dashboard accounting, multilingual support, collections management, real-time financial access, and customer ranking. 

2. Microsoft Dynamics 365 

Microsoft Dynamics 365 is a top-tier ERP system, whose applications cover sales, marketing, customer service, finance, supply chain, and HR needs. It offers both cloud or on-premises deployment, a mobile app, accounting features, robust reporting and analytics capabilities, and seamless integration with Microsoft products. However, a free plan isn’t an option and its CRM functionalities are limited. 

3. Acumatica 

Acumatica targets small and medium-sized businesses, offering both cloud-based and on-premise deployment options. It excels in globalisation, data migration, equipment maintenance, and it integrates seamlessly with Microsoft tools, facilitating self-service reporting, document management, and approval workflows. However, it lacks free trials for users and action tabs on print screens.  

4. NetSuite 

NetSuite is a cloud-based ERP software for growing businesses, with robust features that offer great scalability and customisation. Its main features encompass financial planning, order and production management, warehouse and fulfilment, and procurement. Despite its advantages, NetSuite has limitations such as poor iOS performance, but the extensive customisation options might balance these drawbacks out. 

5. SAP S/4 HANA 

SAP S/4 HANA is a cloud ERP solution, integrating analytics, RPA, and AI capabilities for large businesses. Key benefits include sales performance management, real estate management, inventory monitoring, credit standing enhancement, and machine learning for inventory optimization. However, SAP S/4 HANA’s installation process is long and its embedded analytics capabilities are restricted. 

Does your business need an ERP?

Any business wanting to grow will need to look for areas of improvement, and Enterprise Resource Planning systems are useful in any industry. Whether you run an e-commerce store, a construction company or a nonprofit, the automation of business processes, easy access to customer and operations data, and assistance with day-to-day tasks such as invoicing or inventorying is the easiest way to improve efficiency. 

An ERP software might be for you if you find that: 

  • Your company relies mostly on manual data management of separate databases; 
  • There is poor communication between departments when it comes to customer data, which translates in a poor customer experience; 
  • Your current IT processes are inefficient, outdated or hard to manage; 
  • Basic, daily tasks are all manual and too time-consuming; 
  • Information and reports are convoluted, hard to access, or outdated. 

Researching and deciding what type of ERP system works for your company can be a lengthy and intricated process, especially when your business day-to-day tasks and goals require your constant attention. YourShortlist can help you narrow down the options and assist you in making a decision. 

Book a team meeting with one of our dedicated team members today to receive independent buying advice on the best ERP system for your business and a bespoke shortlist of specially selected partners experienced in implementing ERP solutions for your industry. 

We’re all about helping our members understand, choose, and implement the solutions that will help them succeed. So, if you are on the market for an ERP solution, let us find your perfect match. 

Begin the journey today towards a free, no-obligation shortlist tailored to your business. YourShortlist