Evolution in technology means a revolution in business. And in an age where corporations are actively searching for the slightest technological edge over their competitors, not merely to have a better footing in the business world but rather as a matter of survival, adopting a system that helps them implement automation and enhance integration and efficiency is of utmost importance. Enterprise Resource Planning systems are undoubtedly the most critical tool in the tool kit of any proactive company looking for ways to stay competitive and improve its overall performance.
But with hundreds of different Enterprise Resource Planning software available, it can be overwhelming to choose one that is both affordable and can address all of the diverse needs of various enterprises. This article provides a list of three budget-friendly ERPs for SMEs (Small and medium-sized enterprises) as well as all you need to know about in terms of price, functionality, and technical details.
The Basic Modules of an ERP System?
An ERP system helps an enterprise automate business processes, eliminate redundancies and achieve faster outcomes. They make real-time data reporting extremely efficient, addressing the need for detailed planning, budgeting, and forecasting as well as sharing them with interested parties like shareholders. A typical ERP system includes the following modules:
- Inventory Management
- Order Management
- Warehouse Management
- Supply Chain Management
- Customer Relationship Management (CRM)
- Project Management
- Workforce Management
- Human Resources Management
- Marketing Automation
Criteria for Choosing an ERP System
Selecting an ERP software for SMEs can be a daunting task, and you need to consider a wide range of factors. To make your task simpler hereunder, we have compiled a list of considerations that can assist you with choosing a suitable ERP system for your small to medium-sized enterprise. These factors are:
- Price of ERP system including the annual maintenance cost of Infrastructure
- ERP Vendor Viability
- Technical Support (skilled manpower available inhouse to maintain)
- Return On Investment
- Integration Capabilities
- Functional Congruency
- Ease of Implementation
- Ease of Use
- Adding New Functionality
- Level of Customization
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Top 3 Affordable ERP Systems for Small and Medium-Sized Enterprises
There are hundreds of different ERP systems, offering a wide range of various functionalities at different price points. And in a sense, choosing the best ERP system comes down to these two considerations: cost and functionality. Usually, the more diverse the functionality, the higher the price, ranging from thousands to even millions of dollars. But the fact remains most small to medium-sized enterprises can’t afford these exorbitant prices, and in many cases, don’t even need the advanced functionalities they provide. In this article, we picked the top 3 budget-friendly ERP for SMEs and will discuss everything you need to know about them. So, without further ado, here below are the top three affordable ERP software for small and medium-sized enterprises.
SAP Business One
SAP Business One is one of the most affordable and comprehensive business management software products designed specifically with small and medium-sized companies in mind. The SAP ERP system is designed to streamline the storing and flow of information across enterprises, integrating them with financial/operational processes in a single software suite.
Like any well-designed ERP system, SAP offers all the basic functionality an enterprise requires to enhance its productivity, from controlling and leveraging resources to capturing/analyzing all data as well as financial/accounting management. SAP Business One is primarily utilized in the manufacturing, distribution, service, and consulting sectors. The system is available as both on-premise and cloud-based solutions.
As previously mentioned, SAP Business One is designed specifically with small to medium-sized customers in mind. As such, the company offers its basic plan subscription model for a highly affordable price of just $150/month (per user). The company also offers a starter package for startups costing just $39/month (per user).
SAP Business One is available on all major platforms, including Windows, Linux, Mac, Android, IOS as well as web platforms. Furthermore, the software can be deployed as a cloud-based or on-premise solution or via open API. The software only supports English. The company provides one-on-one technical support through Email, live chat, and phone. As for training, there are various options you can take advantage of; these range from in-person and webinar training to video and live online training. Furthermore, there is comprehensive documentation providing you with detailed instructions on virtually every aspect of the software.
A cloud-based business management platform, ZOHO CRM is a comprehensive and affordable enterprise resource planning software ideal for SMEs. ZOHO CRM offers marketing and sales automation tools with customer support functions, analytics, and helpdesk. ZOHO CRM is not just a simple customer relationship management; instead, it helps you with workflow and marketing automation, process management, accurate business forecasts, and enhanced productivity.
By streamlining marketing, routine sales, and customer support, ZOHO creates an optimized workflow leading to the elimination of redundancies, reduction of manual data entry, and smooth integration between management, production, marketing, and sales teams. Using ZOHO CRM, you can set up multiple currencies, utilize AI-based assistance and predictions to detect irregularities, predict sales, obtain access to relevant information, and take notes. ZOHO is available only as a cloud-based solution. The company offers a free version with limited capability, but you have to opt for a monthly or annual subscription to access the complete set of features.
ZOHO CRM comes in a variety of editions with their corresponding budget-friendly prices. ZOHO has a free Entrepreneurs Edition for up to three users. For the standard edition, it’s $14/month per user. A more advanced Professional Edition (especially suitable for SMEs) costs $23/month per user. Last but not least, there is an Ultimate Edition (geared toward large-scale organizations) that costs $52/month per user. All editions are billed annually.
As mentioned before, ZOHO CRM is only available as a cloud-based system; as such, there are no on-premise Windows, Mac or Linux versions available. Furthermore, ZOHO is available through Android or IOS mobile apps. In terms of support, you have a wide range of options available, from a comprehensive knowledge base to email and phone support. As for training, you can take advantage of extensive documentation, live online training, webinars, videos, and one-on-one live online sessions.
NetSuite ERP system is a cloud-based Enterprise Resource Planning platform designed for businesses of all sizes, including SMEs. The platform offers a comprehensive and scalable solution to manage all major planning, operational, and financial processes of an enterprise on the cloud. This covers every back-office operation a company requires, from customer relationship and human capital management to inventory and omnichannel commerce.
NetSuite ERP can arguably be called the most successful ERP system globally, currently being used by more than 40,000 organizations from 160 different countries. In 2016, Oracle acquired NetSuite Inc. for $9 billion, Consequently, Oracle NetSuite Business Unit rebranded the platform as “Oracle’s Cloud ERP for Small and Mid-sized Enterprises.” NetSuite has a subscription pricing model, and the prices are determined based on the number of users, modules, and addons. The software is so powerful it can be utilized across various industries, from nonprofit and education to manufacturing and software.
NetSuite ERP has a subscription pricing model. The final cost depends on a variety of factors, including the number of users, configuration complexity, the number of advanced modules and addons. Oracle offers four types of licensing levels.: Small Business edition (one user only), Limited edition (up to 10 users), Mid-Market edition (up to 1,000 users), and Enterprise users (1000 plus users). Unfortunately, the company doesn’t offer any free version or free trial. Pricing is available on request, but it starts from $499/month. Considering NetSuite’s vast array of modules and addons, this price is affordable and budget-friendly, especially for medium-sized enterprises.
NetSuite is available as a cloud-based solution via a web-based interface or through Android and IOS mobile apps. In terms of support, Oracle provides help via several channels, including phone and email support, chat, knowledge base as well as forums, and FAQs. The program is available in English, Japanese, and Chinese languages as well as all major European languages. As for training, they offer training via Documentation, video, webinars, and in person.
The three ERP software provide everything a company needs to manage and leverage its resources in a suite of integrated applications. To give you an overview of their functionalities, we contrast them side by side here:
With hundreds of available ERP software for SMEs, choosing the right software for your enterprise can be a daunting task. When selecting an Enterprise Resource Planning System, one has to take tens or even hundreds of criteria into consideration, with affordability being of utmost importance, particularly for small to medium-sized enterprises.
In this article, we compiled a list of the top three affordable ERP software for SMEs, but affordability was not the only criteria that set these systems apart. They all have excellent reputations in the industry and provide a wide range of basic capabilities and additional features.
Do you require further information? Please contact us, and we would be more than happy to share our professional tips about budget-friendly ERP for SMEs with you.