Top 5 ERPS in 2020 – Everything You Need To Know

Top 5 ERPs in 2020

What are the top 5 ERPs you should be considering in 2020 and beyond? What are those top 5 systems you should be thinking about as you begin your digital transformation in 2020 and beyond?

So, what is ERP?

ERP stands for enterprise resource planning.  A tool that is used to handle information. Managing information is something that is the organized collection storage and use of information for the perk of an enterprise so, how do you organize information in your company.

Suppose

You have a customer database or CRM and something managing your orders or warehouse an accounting system and then you’re probably filling gaps in your information pipeline with spreadsheets and manual processes but none of these talk to each other they don’t share data it’s what people call islands of information which impacts efficiency and let’s face it efficiency is connected to time and money. 

Here ERP comes to help you

So, here is where an ERP system benefits you. The ERP incorporates all the data in your company and by doing this you can streamline the flow of information all your company processes become combined end-to-end and now other tasks become more manageable you have a single view of your client so you can give more reliable service.

How to say this is the best ERP for your business?

On what criteria, we can say that Xyz (just for example) ERP system is the best choice for your business? It’s a pretty broad set of criteria. It includes:

1. Everything for maturity general functionality
2. The total cost of ownership
3. Scalability
4. Flexibility
5. The degree of product innovation
6. Product Roadmap
7. The adoption rate is a big one something to think about as you’re considering these different software vendors.

Those are all things that are quantitative and qualitative criteria that we use to help determine where different vendors fit in the top 5 in the year of 2020.

5. Service Now

So, coming in at number 5 is a system that many of you may not have heard of in many of you that have heard of it may not think of it as a traditional ERP system and that is Service Now. 

Service Now is a relatively new entrant into the marketplace they haven’t been around as long as some of the more established players, but they are gaining a lot of traction and momentum in the marketplace particularly around service-based organizations and service-based functions within organizations.

Pros of ServiceNow

1. Tracking event history
2. It generates reports
3. It provides magnificent performance than others.
4. Its interface is user friendly

Cons of ServiceNow

1. Overall Layout is not good
2. It doesn’t have “Paste from clipboard” feature.
3. Very tough to onboard configuration items one after another
4. Very difficult to remove items added by mistake. For example, once a contact number is entered for an individual resource, it is impossible to remove it.

Is Service Now perfect for your organization? 

Not every tool is good for your business. Check your business models, requirements, and other things and then compare them with these tools. If you have Customer Service Centers or IT-based companies then Service Now can work for you. 

Giant complex IT corporations or customer service centers use service now as a way to path workflows and customer tickets related to those kinds of processes. So, service now can be a great solution for those of you with larger or service-based organizations or service-based functions within your organization. 

4. Work Day

Let’s check out which ERP system is waiting at no 9. It’s Work Day. Work Day has traditionally been an HCM human capital management type of system meant to help with the employee experience automate HR processes and payroll and benefits and that sort of thing.

WorkDay isn’t the Great Solution for

WorkDay probably isn’t going to be a great solution if you’re a complex manufacturer with the global supply chain and you’re looking for something to do all that stuff for you.

But The Perfect Solution For

But if you’re a more simple vanilla organization that is placing a high priority on employee experience and you have pretty vanilla financial processes work date could be a great consideration for you and it certainly is an up and coming type of system that we see a lot of positive growth in trajectory consists of results in the marketplace and that’s enough to land.

3 Life-Saving Pros of WorkDay

1. The User Interface is very clean and easy to use.
2. It consists of reach features to support compliance task and L&D.
3. Time Tracking option is available.

3 Cons of WorkDay

1. The way you choose options from the drop-down boxes is a little confusing.
2. Direct deposit set up is extremely difficult.
3. Primitive graphics that look kind of childish.

3. Infor

Infor combined with Infor cloud suite the reason I call both of those out is that infor is in a state of transition like a lot of merchants are moving from some legacy products to cloud-based newer products and we’re still watching tons of corporations particularly in the manufacturing distribution space implement infor product particularly m3 and cloud-suite. 

Now cloud suite for a while infor seem to be marketing cloud suite is the end-all-be-all flagship solution, but from what we’re seeing there’s more of a focus on HCM and some select point functionality in cloud suite and they’re still focusing on more the legacy product like with m3 on the core ERP functionality.

3 Pros of Infor

1. It provides excellent accounting feature that is very easy to use. Only a few clicks will do the job easily.
2. It is very easy to run month-end processes that assure all expenses are proper and then get ready for the next accounting period.
3. The motor vehicle sector has very rigorous quality metrics, and Infor ERP enables us to not only enhance quality but also raise productivity & reliability.

3 Cons of Infor

1. The functionality of Human Resource lacks that can hurt your business.
2. Reports and background tasks/updates frequently demand to be run after-hours as speed is a significant problem and can obstruct other parallel people.
3. Bill of materials seemed cumbersome to use

2. SalesForce

So, Salesforce most of you have heard of Salesforce CRM customer relationship management and you may be wondering how Salesforce could possibly be on our top 5 list of ERP systems.

The reason why Salesforce is on our list is not only because it’s a very strong and robust CRM system but also because they’ve built this ecosystem of third-party applications that are meant to provide different functions that mimic or mirror what traditional ERP systems do and there’s also a number of third-party providers that are creating ERP functions and industry-focused solutions on the Salesforce platform.

So, a lot of flexibility and a lot of innovation coming from that because we’re not relying on one vendor to create all the innovation in the functionality that we need for a complete ERP system.

SalesForce provides a certain amount of flexibility but can also create a certain amount of complexity. So you have to be careful and be the right type of organization for this to make the most sense to you chances are you need to have a fairly robust or a fairly sophisticated and mature IT capability internally to be able to support multiple systems within the Salesforce platform.

There’s a lot of adoption in the marketplace a lot of momentum a lot of companies evaluating and moving to Salesforce as one of the leading in one of the first cloud pure sass ERP systems and that’s enough to land Salesforce.

4 Pros of SalesForce

1. Data Integrity
2. Automation
3. Customization
4. Simplicity Of User Experience

4 Cons of SalesForce

1. Heavy to load on the run, while on the field with not so fast internet connection
2. You may face technical support issues.
3. Hard to use at times
4. It’s fully dependent on the internet connection. The connection should be stable to ensure the consistency of business processes and transactions supported with CRM. 

1. NetSuite      

You have landed in the NetSuite world. The most trusted cloud ERP software suite in the world. It is the world’s largest cloud ERP vendor. Around 50,000+ corporations are using NetSuite to manage their tons of information in an effective way.

Enterprise-level security

It was introduced in 1998 that’s the exact year Google was established. NetSuite has 99.5 uptime and has consistently met 99.98%. It employs enterprise-level security features. Its innovative security and encryption policies will keep the data safe and sound. 

Is It Perfect For You?

If you’re a complex manufacturer with you know, make to order and complex project management or complex field services, but if you have fairly vanilla distribution and light manufacturing and sub-assemblies, it can still be a great fit for you and if you’re certainly in the financial services or retail some other industries, as well, NetSuite is a great product and that’s enough to put it at number one.

The liabilities are the downside things to think about is you want to make sure that you’re looking at NetSuite not only for what you are as an organization today but if you’re scaling for very high growth and you’re a multinational company that’s scaling to be a multi-billion-dollar corporation, you may outgrow the capability of NetSuite.

Implementation Support

The other thing to think about on the flip side is that the implementation partner network is still a bit suspect much like Microsoft Dynamics is most implementations seem to still happen through NetSuite at least the ones we’ve been involved with technical resources are largely coming from NetSuite and NetSuite still has more of a call center model in their implementation support.

7 Life-Saving Pros of NetSuite

1. Gives perfect mobile ERP solution
2. Delivers Real-time data on laptop, smartphone, and desktop.
3. It offers you to make agile business decisions.
4. NetSuite is completely able to handle and manage all core business processes and functions.
5. Accounting and financials with multi-currency support.
6. CRM to enhance user experience.
7. ECommerce integration so you never miss a sale.

4 Anguish Cons of NetSuite

1. The Implementation process and pricing model for NetSuite can cost exorbitant for small enterprises to upgrade.
2. The high level of customization demands a lot of maintenance and very high technical knowledge.
3. Support is vexatious and it is not user-friendly if you are belonging to non-technical side.
4. The printing format isn’t the best

Final Words

So, here we provided top 5 ERPs in 2020. If you are thinking that which one will be the right choice then it totally depends on your business requirements, your company budget, and then the technical knowledge you or your team have to handle in the future.

In my opinion, NetSuite is the perfect tool for mid to large organizations. If you are an owner of big corporations and needs and ERP software then implementing NetSuite will be the best choice.

If you are running big IT company or customer service center then ServiceNow is a good option for you. It has very advanced features and options to solve your business problems comfortably.

If you can’t figure that which one is best for you then call us; we will help you for choosing the best erp for your business.

How Intelvue can help you?

We are NetSuite Development Company, we help customers through their digital transformation in the ERP journeys and our NetSuite Development services helped organizations to manage their information efficiently. Check out our services and make your decision.