Here is top 10 (best) Erp Accounting Software in the world and also in India. Your search for the right ERP software can end here.
Though the process of selecting accounting software is moderately easy, there are many features that can catch you unaware, misguide your decision and cost you time and money. Salient features of top ten erp accounting packages are being discussed below.
NetSuite ERP
» About NetSuite ERP:
NetSuite ERP combines financial management with built-in business intelligence to produce smarter and quicker decision-making. The order-to-cash process is performed quickly by tying sales, finance, and fulfilment to pricing, sales order management, and returns management. Real-time visibility into production management processes is a key feature. Managing end-to-end inventory and inbound/outbound logistics in real-time while minimizing the total cost of ownership is an important feature as well.
» NetSuite ERP Features:
- CRM
- Order Management
- Purchase Order Management
- Supply Chain Management
- Distribution Management
- Financial Management
- Inventory Management
- Reporting/Analytics
- Warehouse Management
» Capterra: 4.2/5 » G2crowd: 3.9/5 » GetApp: 4.1/5
“It is a very powerful ERP, especially its purchasing and inventory management modules and make work much easier and efficient. It allows you to connect in any device in any network. Overall I’ve had a great experience with NetSuite and I wish more companies used it.”
– Efrain G. / Logistics Engineer
Sage Intacct
» About Sage Intacct:
With Sage Intacct, one can tap into deep accounting functionality. Sage Intacct automates core financial activities like procure-to-pay and order-to-cash that helps with better visibility of finances and operations. Choosing the modules (project accounting, subscription billing, sales, etc) a user needs is a key feature. Users can easily connect with Salesforce, configure the system as per requirements, and even build applications.
» Sage Intacct ERP Features:
- Purchase Order Management
- Financial Management
- Inventory Management
- Reporting/Analytics
» Capterra: 4.2/5 » G2crowd: 4.3/5 » GetApp: 4.1/5
“Compared to other solutions, Sage Intacct delivers far superior time-to-value, flexibility to integrate with our application ecosystem, and time-saving revenue recognition capabilities.”
– James Orsillo / CFO, Evariant
SAP ERP
» About SAP ERP:
Streamlining of processes across procurement, manufacturing, service, sales, finance, and HR is what SAP ERP specializes in. SAP ERP is available for 25 industries, 37 languages, and 45 localizations, making it a widely used software. An on-premise deployment, Core process integration and automation, Real-time information and single source of truth are some of its key features.
» SAP ERP Features:
- CRM
- Enterprise Asset Management
- HR Management
- Order Management
- Purchase Order Management
- Supply Chain Management
- Distribution Management
- Financial Management
- Inventory Management
- Project Management
- Reporting/Analytics
- Warehouse Management
» Capterra: 4.4/5 » G2crowd: 4/5 » GetApp: 4.3/5
“Implementation of SAP Bydesign across our companies means we have one system across all companies so reporting can be on a local or global level. The gold partner support is excellent and ongoing system improvements good.”
– Rhys S. / Sales Manager
Oracle
The Oracle system featured in our report is Oracle Fusion Cloud Supply Chain & Manufacturing.
It is an integrated applications suite that provides a complete picture of your finance and operations. It includes blockchain and IoT capabilities that connect your operational, customer, product, and machine data.
Oracle provides solutions for a variety of industries. The vendor’s customer base includes many data-rich clients that tend to invest in analytics and infrastructure, as well as tools like artificial intelligence and machine learning.
Many of these clients are moving to Oracle’s new cloud offerings.
SAP
The SAP systems featured in the report include SAP S/4HANA, SAP Business One, and SAP Business ByDesign.
SAP S/4HANA provides embedded analytics, machine learning, and robotic process automation, while SAP Business One is a solution that fully integrates with this platform but is designed for small to midsized organizations. SAP Business ByDesign is another product designed for small to midsized organizations. It is a single cloud solution with pre-built processes and real-time analytics.
Recently, SAP has been reducing complexity in its software and implementations. They’ve done this by focusing on industry-specific models and moving away from heavy programming to increased software configuration.
For example, they are moving many clients from SAP ECC (an on-premise system) to SAP S/4HANA (a cloud system).https://player.vimeo.com/video/473489304?h=a4a64e3eae&dnt=1&app_id=122963&rel=0
Microsoft
The Microsoft systems featured in our report include Microsoft Dynamics 365 Supply Chain Management and Dynamics 365 Business Central.
Supply Chain Management includes mixed-mode and complex manufacturing capabilities as well as a full suite of warehouse management capabilities. Business Central is designed for small and midmarket businesses and can be extended with industry-specific applications from the Microsoft AppSource marketplace.
Over the last several years, Microsoft has put significant effort into developing its Dynamics CRM solution, which has integration and commonalities with the Dynamics 365 ERP solutions.
A fun fact about Microsoft is that the vendor tends to frequently rely on value added resellers (VARs). In fact, one of our clients, a Native American community, was looking for an ERP system, and they worked with a Microsoft VAR specializing in tribal government ERP systems.
Infor
The Infor systems featured in our report are Infor’s industry-specific CloudSuites.
These CloudSuites provide pre-built industry capabilities and include AI that anticipates, recommends, and derives insights. The CloudSuites also provide cloud-enabled data aggregation and workflow integration.
Recently, Infor has increased its focus on its CloudSuites as well as its digital platform, functional apps, and analytics offering. We have found that many organizations are using Infor’s analytics capabilities to change their company’s business model.
IFS
The IFS system is tailored for the aerospace & defense, engineering, construction & infrastructure, energy, utilities & resources, manufacturing, and service industries. It is a single solution designed for large enterprises and mid-sized organizations that includes artificial intelligence, augmented reality, and machine learning capabilities.
Acumatica
Acumatica is a software vendor that was not in our top 10 list last year but has been upgraded to the top 10 this year. The reason Acumatica has emerged as an up-and-coming player is largely because they’ve defined a very clear niche in the marketplace. They tend to focus on manufacturing distribution organizations.
This product has a very clear user interface. The pricing model is very conducive to the small and mid-market. If you’re a low-volume, high-margin type of manufacturing or distribution company, it can be a very cost-effective solution with a very high ROI. The reason for that is because they have a very unique pricing model where they price based on transaction volumes.
If you have a lot of high-volume, low-margin types of products, it may not be a good fit. However, if you have moderate to low volume, but higher-margin types of products, it can actually be very cost-effective for organizations.
In addition to the extensive user interface, there’s also R&D dollars that are being pumped into the product via private equity firm that just bought the firm not too long ago, and that’s always a good sign of a product that’s up-and-coming when there’s private equity money behind it.
Salesforce / FinancialForce
Now, this is a product that’s actually dropped a couple of notches in our ranking from last year, not so much because the product itself has changed or gotten less desirable, but because there’s other vendors that have made bigger strides and bigger advancements. Having said that, it’s important to note that many people view Salesforce as purely a CRM system.
I mentioned FinancialForce on the financial side, you have extensions like Rootstock, which is a vendor that’s built on Salesforce and provides manufacturing ERP capabilities, just to name two examples of products that provide ERP-like capabilities.
Now, Salesforce is a good fit for organizations that might be looking for more of a best of breed and a flexible type of solution. They can bolt on different types of systems or modules, to meet different needs as the organization grows. However, along with that comes a dark side, which is that a lot of organizations find that that flexibility can create a lot more complexity in terms of integration and cost.
It also puts more pressure on your I.T. department to maintain that system, so those are some things to think about, but in general, that’s enough to land Salesforce and FinancialForce at number nine on our list.
Odoo
An open-source ERP system. It’s new to our top 10 list, although you may recall seeing it on our top 10 list of ERP systems for small businesses. This year it made the general top 10 list largely because we’ve seen it scale for some mid-size organizations as well, and for the general functionality and capabilities that the product has expanded to in recent years.
Open-source can be a good thing in terms of a price tag for the software licenses, but the downside is that as you start to add costs with different modules and capabilities. Your overall spend could actually go up.
The other downside of Odoo is that it can be complex to maintain, so if you don’t have a fairly sophisticated and mature I.T. department that can manage the complexities of an open-source system that just requires more I.T. support, that could be a downside as well.
There is also a consideration when it comes to scaling for large organizations. But for small and mid-market organizations, Odoo can be a very good fit, especially if you’re looking for something with maximum flexibility and modularity to be able to tie together different modules within the organization.
Conclusion
Think you are searching for Top 10 ERP Accounting Software for your business? Well you have come to the right place. Here will find the Top 10 ERP Accounting Software according to the user reviews and rating.