Whether you are looking to replace your current software or you’re a first time ERP software buyer, you need to determine what you need before you start the selection process.
A little foggy on what ERP even means? Here’s a quick refresher: ERP stands for enterprise resource planning. ERP is a multi-purpose business software that can take the place of most or all of the applications used to run a business today. It is designed to help you consolidate all of your company’s business functions into a single, easy to use application. If you’re looking for more information on what ERP software is and what it can do for your business, check out our What is ERP? article series.
Before you start speaking with vendors and implementation partners, we recommend that you take a look at your business processes to determine the areas of your operation that could benefit most from an ERP solution. Once you have that figured out, you will have a much clearer idea as to what features and functionalities are your top priorities. If you run a huge manufacturing warehouse, it’s likely your ERP software needs will differ from a field service company. Need a little help with this step? Check out The Most Important Requirements You Should Look For in Your ERP Solution.
While most ERP systems include similar basic accounting and business management functions to keep your books and run your business, if you look under the hood, you will realize they are not all the same. So how do you decide which one is best for you? To help, we’ve created a table that compares Acumatica against the major competitors, showing where they are the same and where they differ. Over the next few weeks, we’ll release articles comparing Acuamtica against the leading ERP competitors.
Features that Boost Your Business
Before we go into much more detail on how NetSuite, Sage and Microsoft Dynamics GP stack up against Acumatica (over the next few weeks) let’s take a look at the features we are comparing them on. All of the functionalities listed in table pose benefits for businesses in any industry. If you’re on the hunt for a new ERP solution, we recommend going through this list and prioritizing the features that you think would be the most impactful for your company.
- True cloud ERP technology is particularly valuable to SMB’s because it provides access to full-function applications at a reasonable price without substantial upfront expenditure for hardware and software. All functionality is accessible through the internet using a standard browser without the need for any software installation on the user’s device. With the cloud, no additional software licensing is required.
Upgrade on Your Schedule
- Everyone who owns technology knows that software upgrades can be frustrating and time-consuming. With an ERP system that puts out new versions of the software regularly with the option to upgrade on your schedule, you can plan to roll out the changes when it makes the most sense for your business.
Flexible Licensing Options
- Flexible licensing options could include subscription or perpetual licensing (depreciable capital expense versus an ongoing operating cost). This feature is a tremendous asset to SMB’s as it allows you to scale your technology with your business instead of letting it hold you back from growing.
- No ERP product is “one size fits all,” every business has unique needs and requirements. That’s why looking for an ERP vendor that offers industry-specific product suites is something you should consider during your selection process. Many ERP vendors have product editions for businesses in various industries from distribution to construction and everything in between.
Scale as You Grow
- Cloud ERP solutions offer immediate and highly cost-effective scalability. True Cloud ERPs can accommodate more substantial volumes, more resources and more users as your business grows. You can add more resources when you need them and only pay for what you use.
Total Cost of Ownership (TCO)
- This feature is directly related to true cloud technology. When an ERP system is built on the cloud, customers have very little or no upfront hardware costs – as all of the servers are in the cloud. That can lead to a considerable reduction in the overall total cost of ownership (TCO) of an ERP solution.
Business Intelligence & Analytics
- Having access to business intelligence and analytics provide businesses with tangible methods and tools for handling and making sense of the vast amounts of data that an ERP system collects. We recommend you look for a software solution that goes beyond spreadsheets to understand what the financial and customer data is telling you so you can make informed, actionable decisions.
For a more comprehensive comparison tool, check out Acumatica’s ERP comparison checklist. Using this checklist, you can shave hours off your research and evaluation time by comparing your strongest options to Acumatica side-by-side. From there, you can quickly determine which system best meets your organization’s needs.
Key Benefits of a Feature-Rich ERP Software Solution
Now that you have a better understanding of the criteria by which we are comparing these ERP software solutions, it’s essential to understand benefits these features pose for your business – no matter what industry you’re in.
- Store and track data from across the organization– including third-party integrations— to consolidate and streamline business functions
- Automate routine processes and free up human capital with AI and machine learning.
- Get big-picture insights and gauge the success of business initiatives with detailed reporting and analytics dashboards.
- Utilize IoT-enhanced platforms such as cloud-based software and mobile apps for better visibility into daily operations.
Acumatica is an integrated financial, CRM, and business management solution that helps you run your business more effectively. We believe Acumatica provides the best price/value, performance, functionality, and ease of use of any ERP system available for SMBs. All of the competitors that we will be comparing Acumatica to over the next few weeks make a viable ERP product. We just think Acumatica is better and we hope these articles show you why.
Ready to start the implementation process, but not sure who to work with? Check out our article What to Look for in Your ERP Implementation Partner. Remember, the company you choose to implement your software dictates the success or failure of your software investment, at Aqurus, we’re passionate about providing superior ERP solutions and support.
Looking for more information? Check out some of our top ERP selection & implementation resources:
- 5 Steps to Streamline ERP Selection & Implementation
- Find the Right ERP Solution with Our Comprehensive ERP Evaluation Checklist
- ERP Selection & Executive Buy-In
- ERP Implementation — Timing is Everything
Ultimately, the decision of which ERP system you choose is yours. We want you to get the ERP system that is right for you – whether or not you choose Acumatica. There is one thing we can say about our competitors: All the products listed here will charge you for every user you add to their system. Acumatica does not. Ever.
Need more information on the software? Check out the overview of Acumatica Cloud ERP Software.