By Ashwani Gupta from Kommune
In today’s quick-paced corporate environment, technology has been playing a critical role in fostering business growth and efficiency. For companies of all sizes, Enterprise Resource Planning (ERP) software has emerged as a game-changer, helping them to streamline their operations and provide better outcomes. Recent data indicates that 64% of businesses intend to install ERP during the next three years.
Why has ERP proven to be a popular tool by retail companies? Retail companies aspire to combine all of their company operations, including finance, production, supply chain management, and human resources, into a single system that offers real-time visibility and control. Through the integration of various activities, ERP guarantees better inventory, cost savings, stronger teamwork, and better decision-making.
Benefits for Selecting an ERP Software: selecting the appropriate ERP software selection for your company can be challenging. Finding the software that would be the best fit for your company’s needs might be difficult because there are so many options on the market. Before making this choice, however, businesses must take into account a number of important variables.
Business Goals: Identifying your business goals is the first step in selecting the best ERP software. To achieve those objectives, you must then focus on a particular piece of software. For instance, you might wish to boost efficiency or improve customer service. Also, you must be knowledgeable about your current business procedures and how to enhance them through the use of a certain ERP programme.
Scalability: An ERP system should be able to grow with your business and keep pace with it. You shouldn’t be paying for more than you need or stay stuck with a system that is too large for your needs.
A wide range of tasks, such as inventory management, accounting, customer relationship management (CRM), supply chain management (SCM), and others, must be handled by the system.
Ease of Use: Employees at all levels within the firm should be able to easily utilise and master the programme. Employees should be able to make modifications as needed without considerable training if it is intuitive enough.
Customization Options: Each company operates differently and has particular requirements. These conditions must be met by the ERP software. Verify that the software you select offers built-in customization features that you can adjust to meet your demands. This will enable you to swiftly make modifications without depending on outside developers or programmers.
Security Needs: Your data will be safeguarded by security features in a solid ERP system against unauthorised access, theft, or destruction by hackers. Additionally, it will guarantee that all users have the proper access privileges in accordance with their organisational roles and that only authorised workers can view sensitive data, such as client credit card details.
Integrations: Integration between your ERP software and other systems is required, including POS, CRM, and e-commerce platforms. To ensure that orders are handled without a hitch, your new ERP system must interact easily with any e-commerce platforms you intend to use to sell goods online.
The price of the software, as well as continuing maintenance and support expenditures, must also be taken into account. These aspects should be carefully taken into account by firms when selecting an ERP solution. Let’s examine the top 10 ERP programmes for Indian companies.
Top 5 Best ERP Software for Businesses
Here are the top 5 best ERP software tools for businesses in India in 2023 that can help take your business to the next level.
Ginesys: Ginesys is an all-in-one ERP solution for retailers, wholesalers, offline and online brands. It is India’s only ERP with an integrated omnichannel approach, allowing businesses to seamlessly manage their operations across multiple channels. Key features of Ginesys include inventory management, procurement, warehouse management, B2B sales order management, B2C ecommerce order management, financial management and point-of-sale (POS) capabilities.
It also has complete Indian GST compliance out of the box and is also integrated with EaseMyGST for automating GST returns and e-invoicing. Ginesys also provides real-time analytics and reporting to businesses to help them make data-driven decisions. The pricing model of Ginesys ERP starts at Rs. 6000 per user per month but varies depending on the modules opted for. It is only available as a cloud subscription.
SAP ERP: SAP ERP is usually used for large organizations. The features of SAP ERP include financial management, global support, country localizations, streamlined financial operations, improved cost-efficiency and continuous innovation. A SAP ERP software solution supports multiple currencies and is available in 27 languages. It also provides a complete set of tools to streamline financial operations and improve margins.
For SAP S/4HANA (the latest version of SAP ERP), pricing starts at around $2,000 per user per year for cloud deployment and can range up to $5,000 per user per year for on-premise deployment. However, this pricing can vary depending on the size of the business and the specific features and modules required.
In addition to the base pricing, businesses may also need to pay for additional services such as implementation, customization, and ongoing support. SAP offers a variety of licensing options, including named user licenses and concurrent user licenses.
Tally ERP: Tally ERP is an accounting software solution that helps businesses manage their financial processes. It provides a comprehensive set of features for managing accounting, inventory and payroll. Tally ERP is designed for small businesses and has a user-friendly interface.
For Tally ERP 9 (the latest version of Tally ERP), pricing starts at around INR 18,000 for a single user perpetual license and can range up to INR 54,000 for a multi-user perpetual license. Subscription-based licensing options are also available, with pricing starting at around INR 1800 per year for a single user.
Microsoft Dynamics 365: Microsoft Dynamics 365 is a cloud-based enterprise software solution that provides a wide range of features for managing financials, operations and customer relationships. It is designed for businesses of all sizes and provides a flexible and scalable solution that can be customized to fit the specific needs of the business. Its key features include Sales Management, Marketing Management, Customer Service Management and Financial Operations management.
The pricing and licensing options of Dynamics 365 vary depending on the specific solution and the size of the business.
Acumatica Cloud ERP: It is designed for small and medium-sized businesses. It offers a range of features including financial management, project accounting, distribution management, customer management, manufacturing management and field service management.
Acumatica Cloud ERP is available in multiple editions, including the Standard, Advanced, and Premium editions. The pricing starts at $1,000 per month for the Standard edition, which includes financial management and distribution management features. The Advanced edition, which includes additional features such as project accounting and customer management starts at $2,000 per month. The Premium edition, which includes all the features in the Advanced edition as well as manufacturing management and field service management features starts at $4,000 per month.
The pricing for different verticals include Marketing (starting at $750 per user per month), Sales (starting at $20 per user per month), Customer Service (starting at $20 per user per month), Finance (starting at $30 per user per month).
In addition to the base pricing, businesses may also need to pay for additional services such as implementation, customization, and ongoing support. Microsoft also offers a range of licensing options, including named user licenses, device licenses, and subscription licenses.
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