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An enterprise resource planning system, also known as an ERP is a form of business management software that helps to integrate and manage the core processes of a business. The goal of any good ERP is to enhance the business as a whole, streamlining processes to assist the business in running smoothly. The integration ensures that there is one central database for the business, leading to a lack of data silos so businesses can easily access all of the information.Â
Business owners require ERP software to keep their business on the right path to success. But, choosing the right ERP can be a challenge. With so many options on the market right now, how is it possible for businesses to know which is the one to opt for? Each of them have their own pros and cons, so researching before making a decision is the best possible choice anyone could make.
To help those companies in need out, we’ve compiled a list of the best financial ERP software providers in operation right now, giving businesses all of the insights that they need. So, without further ado, let’s get into it.
Unit 4 ERP – An Excellent People Centered Solution
Since 1980, Unit 4 has been operating in the technology industry, providing a people experience focus like no other. Due to this, customers who choose this ERP have strong praise for Unit 4’s ERP, as it has helped many companies see better results than they were able to on their own. With a specific focus on larger enterprises, this ERP was created with businesses in mind that often have to handle large but still varying transaction volumes, as well as those that have complex configurations.
Best known for their customer centered approach, any business would be hard up to find a company that cares as much, and can offer quite as much as Unit 4. With a dedication to working with their clients, creating improvements and modifications where necessary, this ERP provider will only continue to go from strength to strength if they stay on the right track.
| Pros | Cons |
| Enhanced financial management | There have been reports of difficulties with user adaptability |
| Excellent value for money | Known for being a fairly tough integration initially |
| Industry experts working with you, as well as for you | Issues with customization |
| A client focused business |
Sage Intacct – Impressive ERP With A Customer Focus
By automating tasks such as reporting and reconciliation, Sage Intacct works to enhance operational efficiency. The real-time insights thanks to the cloud based server means that business accountability can be boosted as well as the transparency of the business.
For the most part, Sage Intacct focuses and aims themselves at the medium-sized financial businesses out there who have an interest in putting their focus into the most efficient accounting practices possible, as well as automation. One thing that Sage is well known for is its dedication to supporting people. As a customer, each person is treated as an individual, not as someone with no input in what is or is not done.
| Pros | Cons |
| Multi-currency and multi-entity environments | Implementation costs |
| Cloud based makes for remote access | Pricing complexities may mean you end up paying more than you originally planned |
| A highly scalable solution that can adapt as a business needs change | Issues with custom reporting for some customers |
| Fantastic reporting feature |
Microsoft Dynamics 365 Business Central – Incredible Customer Support Options
In order to connect financial, sales, and operations, Microsoft is offering their ERP, and it’s certainly a solid contender on the market. Having already helped over 45,000 businesses either small or midsize, they have plenty of experience to hand, ensuring that businesses get the help that is required.
With a strong focus on working smarter and adapting faster, this ERP was designed with both of these things in mind. The incredible customer support is tough to find, so it’s not something worth losing.
| Pros | Cons |
| Streamlines financial management | Can be a steep step in adjusting to the new ERP |
| Robust reporting and analytics | Complexity in customization at times |
| Optimizes supply chain | |
Oracle Cloud ERP – An Experience Nobody Ever Regrets
Making better financial decisions is not possible without the right support, and that is where Oracle Cloud ERP comes in. This ERP has been especially designed with customers in mind, specifically those who own mid-large sized companies.
Customers are always full of praise for Oracle, and it doesn’t stop there as there seems to be no signs of slowing down. With a strong focus still on maintaining the current well-working elements, and adapting those that are not to suit the client being served, the ERP is constantly learning, improving for future use.
| Pros | Cons |
| A cost-effective solution for those who need it | Smaller businesses may struggle with the steep learning curve |
| Enhanced security to ensure all of your technology is safe and well | |
| Improved collaboration throughout the entire business | |
| AI to automate processes and slow them down |
Horizon ERP – People Experience Focus ERP Provider
Last but not least Horizon ERP is one of the lesser known ERP’s, but we think that they are worth looking into. How many do you know that come with a mobile application to make managing the business across the board a lot easier. With quick response times when there is an issue, having this ERP saves a whole load that would be otherwise wasted.
With many years behind them in the industry and a focus on moving forward, constantly improving their ERP, this is definitely a company that should be in contention.
| Pros | Cons |
| A mobile application for some services making them easier to access | Some customers have reported a lack of cloud availability |
| Upgrades have seen improved data management | Poor after sales support |
| Real time visibility ensuring further collaboration throughout the business | Lack of essential features |
| Cut out inefficiencies |
When faced with all of this information it seems like an overload, but they are all things that need to be considered. Choosing an ERP is a personal decision to the business, and as such understanding all of the pros and cons, as well as the features is essential. Using the list above complete with the main financial contenders, finding an ERP solution shouldn’t be too tough for your business.
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