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Best ERP Systems

ERP systems (or enterprise resource planning systems) are complete, integrated systems that manage all aspects of a production-based business, aligning financial management, human resources, supply chain management, and manufacturing with the core function of accounting. ERP systems are used to provide transparency into the entire business process by tracking all aspects of production, financials, and materials. These expansive systems act as a central hub for end-to-end workflow and data. A variety of departments can view the information recorded by ERP systems to ensure that the correct procedures are taking place.

ERPs are used by manufacturing and product-centric companies. Instead of using standalone products, which may not properly integrate, in each separate department, ERP systems provide cohesiveness from the beginning to end of all business processes. This assists in expansion and growth of a company. While ERPs cover a wide range of functionality within themselves, they may integrate with CRM software and PSA software products. Users may also choose to integrate standalone products to form a unique ERP system. Others might solely select specific modules from an ERP system that are sold uniquely to best match business needs, instead of purchasing the entire suite. Some project-centric companies may run similar project-based ERP systems that do not focus on product manufacturing, but still offer an end-to-end business solution.

ERP systems provide a variety of modules and while each business has unique requirements, most ERP systems offer the following:

  • Accounting Software
    • General Ledger
    • Accounts Payable/Receivable
    • Fixed Asset Management
    • Budgeting and Forecasting
    • Cash Management
    • Financial Consolidation
  • Human Resources
    • Recruiting
    • Payroll
    • Incentive Compensation
    • Workforce Management
  • Supply Chain Management
    • Demand and Supply Planning
    • Distribution
    • Procurement and Purchasing
    • Order Management
    • Inventory Management and Warehouse Management
  • Manufacturing
    • Bill of Materials
    • Product Lifecycle Management
    • Quality Management
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