What's the best ERP system for your business?

That’s a generic question and right ERP depends on industry, company size, growth plans, legacy ERP / applications in play, business drivers and so on, Typically a product selection exercise is done to decide on the best fit,

It depends upon multiple factors like the nature of business, industry, transaction volume, budget and infrastructure. For SMEs SAP Business One, Oracle Netsuite and MS Dynamics are potential solutions however it depend upon each organisation which solution suits better,

ERP selection: 1.Begin by identifying company's specific needs-such as improved efficiency, better data visibility, cost reduction, scalability & compliance requirements. 2.Involve key stakeholders from finance, sales, production, HR etc. in decision-making process. 3.Determine realistic budget which includes costs such as software licenses, implementation, training, maintenance & support. 4. Evaluate whether you want an on-premises, cloud-based, or hybrid ERP solution. 5.Prepare comprehensive list of functional requirements. 6.Prioritization of your functional requirements-Identify "must-have" features and "nice-to-have" features. 7. Analyze ERP vendors & solutions with factors like vendor reputation, customer reviews & market presence."

Choosing the right ERP system is indeed crucial for streamlining business processes. When making your selection, consider factors like scalability, industry-specific requirements, vendor reputation, and user-friendliness to ensure the best fit for your business needs.

When it comes to selecting the best ERP system for your business, there are several key factors to consider, particularly from business and security perspectives. Business Perspective: Scalability, Customization, Cost, User Experience, Vendor Reputation. Security Perspective: Data Encryption, Access Control, Audit Trails, Regular Updates, Compliance. However, the "best" system (SAP, Oracle, or Microsoft Dynamics 365) will depend on your specific needs and circumstances.

I believe it depends client's need, because, if you are starting your business from scratch as a startup does not make sense to hire a SAP ERP. SAP ERP is proper for medium and big companies, so, in this situation the business owner should invest his money in an initial ERP, just to register his actions, money, tasks, and integrate all data and departments. As soon as the business starts to grow he can think of hiring other big ERPs from well-known companies such as SAP for example.

To control cost and impact it's best to start small. Find out together with the vendor what makes sense to deploy first, where will you get the biggest bang for your buck without a major disturbance to day to day operations? Then implement it, make it work, put the product in the hand of your employees, make them happy by fixing the issues. You will then be ready to deploy another round of modules. Your first adopters will become your best champions to support the deployment in the company.

Depends on company size and needs. But a good starting point would be: SME and startups benefit greatly from a SaaS ERP. Big companies likely from a 2 tier approach: private cloud for main instance/company, pure SaaS for daughter companies, JV, localisation, etc.

Oracle ERP is the best one for big scale industries who having his turnover more than 400 cores .oracle have multiple application in all function i.e. HRMS, Finance ,Operation , WMS .

A reliable ERP system has a much higher total cost of ownership than other applications like commercial office or accounting software. ERP licenses can cost less than 15% of TCO whereas other ERP costs like implementation, training, customization, updates and upgrades often exceed 70% of TCO. The ERP vendor selection compares ERPs in terms of functional, technical and security features; flexibility, built-in development tools, scalability, frequency of new versions, client references, TCO and billing mode. After an evaluation to shortlist two candidates, the comparison can be between two ERPs of the same tier; or between a commercial ERP and an open source ERP; or between the traditional on-premises ERP and the cloud ERP of the same vendor.

Once again, ERP SaaS is key. Go with a composable architecture, start small and add along the way. Key here is a strong platform. MS relies on Azure/Power Platform and SAP on its Business Technology Platform. This platforms allow you to build integrations, develop apps (Pro code but also low code/no code), AI/ML, and much more. So Platform is key, can't think ERP isolated.

Based on my experience, determining the required system primarily depends on the client's requirements and needs, as well as the budget allocated for it. We have observed many clients who purchase global software such as SAP or Microsoft, but end up using only about 25% of the program's features. This is often due to a lack of resources for implementing the software, including either a shortage of staff trained to apply the program or a lack of time to carry out the implementation.

Interfacing with legacy applications can be challenging. Most modern ERPs provide APIs for seamless interaction. However, to integrate with these APIs, some development might be needed on the legacy applications' end. This can be complex, especially if only a few people are maintaining them. It's wise to plan for this integration ahead of time and begin the necessary work as soon as possible. From my experience, file-based integrations tend to be harder to maintain, monitor and can cause recurrent issues. Therefore, prioritizing API integrations is advisable whenever feasible.

An ERP implementation project can, depending on your company size, lead to a multi year project which will involve and impact multiple business units in your company. Choosing the right vendor is as important as choosing the correct ERP system, maybe even more! Picking the wrong vendor can lead to a failed/delayed implementation, millions thrown down the drain if things go south and this, sadly, happens a lot. The first thing to take into account is the experience and credibility of the vendor. Ask for references from companies similar to yours, call them, ask questions, how the relationship went, how long it took, how much over budget they went. If the vendor submits one or multiple references it's already a good sign.

Choose someone with proven capabilities. Do not consider only the vendor (Oracle SAP, MS), but their implementation partners locally. Do you find easily top Competence to help you successfully implement and run your ERP or is that vendor "weak" in your market? Which vendor has better value for money? Which one allows you more flexibility without increasing tech debt and maintenance costs?