Do you know what an ERP is? In case you don’t, an ERP is known as Enterprise Resource Planning. This software solution will help improve the productivity of a business that is large or small. Therefore if you are in charge of a medium or a small business it’s a good idea to check out the best ERP for medium businesses and the best ERP for startups.
Small-sized businesses have a lot of issues to handle, and therefore it is very important to adopt an efficient business planning model. There are a lot of software applications dedicated to small businesses, however, the problem with such software is that you should implement only the features that your business absolutely needs. So what is the best ERP (enterprise resource planning) software for small businesses? Which one offers full functionality and covers all the aspects of running a business?
GeniusERP
With Genius ERP, it’s easy to see at a glance what’s working (and what’s not).Genius ERP is a complete enterprise resource planning system built with manufacturers and distributors in mind. It’s ideal for companies handling make-to-order, engineer-to-order, custom-to-order, and assemble-to-order operations.
Notable features include accurate estimating, inventory control, order management, procurement planning, and accounts management. With additional options such as product engineering and field service, Genius ERP simplifies complex manufacturing management.
Pricing for Genius ERP costs from $125/user/month. There is no free trial option.
NetSuite
As the world’s #1 cloud ERP solution, NetSuite is the first and last business management solution your business will ever need. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce, used by more than 24,000 customers in 200+ countries.
These are the benefits of NetSuite to SMEs in Nigeria:
a. Makes business finance easy to manage because of efficient automation.
b. Real-time insights that give a clear picture of the business.
c. Helps in growing channels, markets, and new products.
Scoro
Looking for an all-inclusive business management tool for SMEs, Scoro fits into this description. It works best for businesses engaged in project management, sales, and service delivery.
This ERP software guarantees faster, more efficient work which implies more productivity for your business. Scoro helps you to automate invoicing and billing, manage projects, monitor KPIs, and view financial reports. This software is quite affordable which is why it is great for SMEs in Nigeria.
Benefits of Scoro include:
a. More efficient time management and allocation of business resources.
b. Tracking and management of projects.
c. Sales funnel management.
Tipalti
Tipalti is a comprehensive business management platform with a large focus on streamlining financial processes with other operations. It helps businesses keep track and process payments and suppliers while keeping them safe from financial risks and tax compliance issues. Tipalti’s end-to-end accounts processing solution is also fitted with advanced features including currency selection, reconciliation, fraud detection, and mass payment processing.
With its global reach, it is perfect for small businesses with clients across the globe. The solution is also very flexible. It is being used by a wide range of companies and business operations ranging from the financial industry to social network influencers. Tipalti automates all the accounts payable (AP) processes needed to perform in the modern business setting.
Moreover, the solution is also fitted with robust reporting tools for analytics and visualizations useful for presentations. Other modules include those for managing procurement, suppliers, and invoices. It also integrates with other popular business solutions like QuickBooks Online and Netsuite. Lastly, the product is customized for each client. So, it is only available in quote-based plans.
Small Business Benefits:
- Automate all payment-related processes
- Integrate seemingly disparate operations like supplier management and logistics through its many modules
- Comply with national and international tax standards
IQMS EnterpriseIQ ERP
IQMS EnterpriseIQ ERP acts as a single source of truth for business information.
Designed specifically for manufacturers, the IQMS EnterpriseIQ ERP system is a natural fit for small businesses and startups. The core system features manufacturing and inventory control, sales, and financial management.
The system is designed to scale as your business grows. Additional shop floor and enterprise functions can be added without the need to use third-party add ons.
IQMS EnterpriseIQ ERP costs from $35/user/month and a 15-day trial option is also available.
SAP Business One
Increase control over your small business with software designed to grow with you. Streamline key processes, gain greater insight into your business, and make decisions based on real-time information – so you can drive profitable growth. Lower the cost of managing your business, from financials, purchasing, inventory, sales, and customer relationships to project management, operations, and HR. Gain clear visibility and complete control over every aspect of your small business. Capture critical information for immediate access and use it company-wide. Secure the achievement of big dreams and big goals. Get a single view of your business in an instant with a flexible, modular, powerful, and simple interface.
Brahmin Solutions
This ERP software focuses on inventory management. Small businesses can take advantage of this to optimize order management as well. It has a multichannel inventory management functionality which makes it possible for your business to sell using different currencies.
A single-click reorder feature helps you replenish your stock. As a result, you can fix the maximum and minimum purchase limits for different items. You can also assess product performance and generate reports.
Benefits of Brahmin Solutions include:
a. Easy to implement and use.
b. Starter plan comes at a fixed price.
c. Easy to customize.
Rossum
Rossum helps small businesses automate key processes through document-management-based ERP workflow that can tie up all business fronts. It has a smart cognitive data capture technology that quickly scans, collects, and validates all documents including forms. So, information from seemingly disparate areas can be integrated to be used in managing an organization. This feature is powered by AI and is automated. So, small business owners can concentrate on mission-critical tasks rather than doing back-end clerical work.
The capture is also available in native applications for Android and iOS devices.
Moreover, this unique technology also has a failsafe. If there are missing data or data with low confidence scores, the program automatically prompts the user to verify. Moreover, it is also trainable using user feedback. Thus, it gets more accurate over time. This feature is perfect for capturing and managing documents like invoices and forms. Hence, many organizations leverage it for automating various enterprise resource management processes including logistics-related ones.
The platform is also fitted with many other automations and is highly flexible. In fact, the software provider deploys the Rossum platform customized according to an individual organization’s needs. It also has communication tools for team coordination and management. This includes a dashboard for cues for document-based task lanes that can be used for purchase order approvals and more. Other key ERP features include audit trails, reporting, and analytics. Moreover, it has advanced data compliance capabilities to keep data assets safe.
Any ERP tool is not complete without integrations. It needs to be able to “talk” to other specialized business apps in order to manage the whole breadth and depth of an organization. And, Rossum is fitted with many integrations including those for Zoho Books, Google Drive, and Oracle Netsuite.
Lastly, as it is deployed according to a particular business’ requirements, it is only available in customized plans.
SYSPRO ERP
SYSPRO ERP makes it easy to understand your core metrics.
With a history that goes back to 1978, SYSPRO is a mature platform that has grown into a fully-fledged solution.
SYSPRO is an ERP solution focused on helping small to mid-sized businesses engaged in manufacturing and distribution. The modular nature of the system makes it easy to customize. Additional options such as warehouse management and inventory control can be added as needed.
SYSPRO costs from $199/user/month. There is no free trial option.
Conclusion:
If you’re running a small business, you won’t be able to avoid the word software (also known as enterprise resource planning or ERP for short). It’s like the word game or love — it appears on every website about business. But unlike love and games, ERP is more than just a buzzword; it’s an essential component of any business that employs multiple employees.