10 Best ERP Systems for Small Business Owners
By TOI Staff February 14, 2023 Update on : February 14, 2023
Small businesses, with their limited size, restricted authority, and stringent process, are much more in need of systematic assistance to boost their business operations. Therefore, small business owners must understand that the best ERP systems suitable for their business should provide flexibility, scalability, and affordability.
To guide you in finding the best cloud ERP system in Australia, it is imperative to understand the basics of Enterprise Resource Planning before making your decision.
What is Enterprise Resource Planning (ERP)?
An ERP system is a tool that businesses may utilize regardless of size. Even small businesses you manage can leverage this tool to boost functions such as integrating customer data, tracking inventories, managing employees, and improving business operations.
Here are the top 10 ERP systems for small business owners in Australia:
Odoo offers an ERP system for small businesses, with different modules and services specifically designed to meet their business needs.
Generally, Odoo has many interesting features, such as easy tracking of the business’s finances, enhancing customer relations, and even efficient monitoring of the inventories and number of available stocks. Additionally, it can also be integrated with other applications for easy dissemination and access.
2. SAP Business One
Another unique ERP system you may take a look at and use to improve your business process is SAP Business One. Generally, it is a cloud-based ERP system that caters to small businesses and helps them organize their processes, from accounting to logistics and inventory management.
This system offers advanced features that are impressively beneficial for your business, like analytics and reporting, budgeting tips, and setting up your financial goals, whether for short-term or long-term insights.
NetSuite is another cloud-based ERP system on the list. This system is suitable for any business, whether small, medium, or large enterprises. NetSuite is quite popular among business owners, even experienced ones because its easy-to-access features help effectively manage their streamlined operations.
4. Dynamics 365 Business Central
This cloud-based system is one of the top-rated ones for finding the best ERP solutions for your small business. Many startups and small business owners rely on the effectiveness of this system regarding managing their business operations and improving customer support through customizable features.
5. Epicor ERP
Epicor ERP is a cloud-based ERP system designed for small and mid-sized businesses. It helps streamline operations with tools to manage financials, human resources, manufacturing, customer relations, and more. Also, it offers plentiful customization options that allow users to tailor the solution to their business needs.
6. Microsoft Dynamics GP
This comprehensive ERP system is just right for many small businesses and startups. In fact, this mid-market system has become popular in Australia and worldwide because of its easy-to-understand key features.
7. Acumatica Cloud ERP
Acumatica Cloud ERP is a comprehensive system that helps medium-sized and small businesses manage their operations, from accounting to sales and customer relations. The system offers an easy-to-access and understandable reporting system wherein you can easily find everything you need right in the system’s dashboard.
8. Infor CloudSuite
Infor CloudSuite is an ERP system designed for small and mid-size businesses. It helps streamline operations with tools to manage financials, human resources, manufacturing, customer relations, and more. Additionally, this ERP system offers impressive customization options allowing users to tailor the solution to their business needs.
This cloud-based system makes it an excellent pick for many small business owners having difficulty managing their accounting books and financing records.
Its amazing accounting tools save you tons of valuable time operating to see your forecasted monthly or weekly gains and make a sound financing decision. Also, this ERP system helps small businesses enhance their customer relations.
10. SYSPRO ERP
Many experienced business owners and managers consider SYSPRO ERP the top-rated online application for your business. Its hybrid model offers many users flexibility in managing their accounting and improving their processes in other operations such as distribution, production, sales or marketing, human resource management, and more.
Features of a Small Business ERP System
ERP systems offer many features that you can explore even as a beginner. To name a few, here are some of ERP systems’ notable features that are quite helpful:
Human Resource Management
The HR or human resource feature serves as an effective tool in managing employees. This includes but is not limited to checking and ensuring the correct input for their paychecks, monthly employee performance, bonuses, and other incentives. Besides that, it can also effectively manage new employees, trainees, or interns.
This feature is the most crucial and significantly affects many businesses. As financing records serve as the bloodline of the business, it is imperative for many business owners, regardless of their size, to consider using ERP systems because of this feature.
Inventory systems, especially among small businesses, can be a daunting and the most annoying part of the business process. An effective ERP system offers great help for owners and managers to track down their stock levels without hassles.
Customer Relationship Management (CRM)
It is self-explanatory why this feature is significant for most businesses operating in the market today. CRM is a great tool for managing and improving your business relationships with your customers, whether new or old or returning.
Supply Chain Management
If your business offers to distribute services like shipping products or to deliver those, the ERP system offers this feature to make the process more manageable.
From when your prospective customer makes an order online to check the items out, this tool can easily track everything. It improves accessibility by letting your customers track their orders online, see where their packages are, and when the estimated arrival period is.
Analytics and Reporting
Another notable feature of ERP systems is their excellent ability to provide users with a detailed report and analysis of their business’s month-long or week-long performance. You can easily note which department you should improve to enhance your business process further.
Benefits of Using an ERP System for Small Business
Because of the many features they offer, small businesses can benefit significantly from using an ERP system:
An ERP system allows small business owners and managers to gain control over their operations. With this, it is easier for you to manage your business to improve efficiency and make changes where it is deemed fit.
An ERP system can streamline processes and automate tasks, allowing staff to focus on more productive activities.
With the help of this tool, it is easier for you, as a small business owner, to make abrupt and accurate decisions for your business.
Improved Customer Service
Another benefit of using an ERP system for your small business is that it allows you to understand your customers. Generally, it will help you retain old ones and attract new prospective markets for your business to grow and flourish.
Choose the Right ERP System for Your Small Business
When selecting the perfectly suited ERP system for your small business, it is imperative to consider the various features that come with it. Depending on your business needs, understanding how it operates will greatly help you decide which one of the best ERP systems will benefit your business.