In today’s fast-paced business management world, most businesses put utmost emphasis on optimum resource management to achieve the defined business goal. Enterprise Resource Planning software provides support to the process of integrating and streamlining various departments such as research, production, logistics, sales, finance, HR and marketing.

The business landscape of India is constantly changing with the rapid proliferation of technology and increased competition, an efficient resource management system has become indispensable for every organization, especially small and medium enterprises.

ERP software along with organization and efficiency provides multiple other benefits such as reducing the scope of human error by eliminating the necessity of data entry.  ERP software provides real-time data insights, regarding every department from sales trends to production costs. This makes the decision-making process simplified and precise.

In this blog we will focus on the top ERP solutions available in the Indian market in 2024-

 1) SAP Business One ERP

SAP Business One is specifically tailored for small and medium businesses, offering a comprehensive solution to manage finance, sales, customer relationships and operations in a single package.

It was founded in 1972 SAP by five former IBM employees. First started in Germany, SAP has a global reach, reliability and the largest cloud portfolio of any provider. SAP operates 57 data centers at 32 locations in 15 countries. Over 52 years SAP has undertaken many technical changes adapting with the times. Its latest generation SAP S/4 HANA runs entirely on the memory database of SAP HANA. Its business technology platform “RISE with SAP” brings together application development, data and analytics, integration, and AI into one platform.  SAP has 269 million cloud users, with 100 business solutions covering all functions.

 2) Oracle ERP

Gartner Inc. named Oracle Fusion Cloud ERP a leader in the 2023 Magic Quadrant for Cloud ERP for Service-Centric Enterprises.  

Started in 1977 as Software Development Laboratories by Larry Wilson, Bob Miner and Ed Oates in Santa Clara, California. In 1982 it became Oracle Corporation, in June 2012 Oracle Cloud ERP was introduced as one of the products of Oracle Cloud known for its robust and scalable solutions. Oracle Fusion Cloud integrates advanced-gen AI to redefine finance operations. Almost 10000 leading organizations around the world employ Oracle Cloud ERP to run their business function. They deliver specific ERP solutions in various industries such as Banking, Casinos and Gaming, Communication, Education, Healthcare, Hospitality, Life Sciences, Professional Services, Oil and Gas, Restaurants, Retail and utilities, integrated with AI and machine learning to automate and facilitate predictive planning and forecasting. Key products include Software as a Service (SAAS) solutions for ERP analytics, Financial Management, Procurement, Risk Management and Compliance, and Enterprise Performance Management. In 20116 Oracle Corporation acquired NetSuite an American Cloud-based Enterprise Software Company called NetSuite. It became Oracle NetSuite which provides services specifically for Small and Medium Businesses.

3) Sage X3 ERP

Sage X3 is a comprehensive ERP software that helps businesses manage their finances, operations and supply chain and improve their efficiency, profitability and agility.

It was developed by Sage Group and released in 2000. Sage X3 is a versatile ERP solution that can be used by businesses across the spectrum. Its solution includes financial management, supply chain management, production management, and business intelligence and insights. It provides a modern solution with a flexible deployment option, scalable, easily customizable, mobility features and a comprehensive set of capabilities to manage any business. It has a presence in over 20 countries and a diverse multilingual customer base spanning different industries. Sage X3 is a reliable choice due to its several decades of history and reputation.

4) Microsoft Dynamics        

Microsoft Dynamics 365 combines CRM and ERP capabilities in a single solution. It is suitable for businesses of all sizes and useful in managing multiple departments including sales, customer service and operations.

Developed and released in 2016 by Microsoft. Dynamic 365 integrates with other Microsoft products such as Office 365, Power BI and Azure, allowing businesses to streamline their operations, improve customer engagement, and make data-driven decisions.

Microsoft Dynamics allows flexibility, and customization options and integrates with AI and machine learning capabilities to provide actionable insights.  Additionally, it offers demand forecasting and product change management, broker and royalty contract management and serial number tracking tools. Microsoft Dynamics offers flexible deployment options, providing businesses with scalability, accessibility, and cost-effectiveness.

A commissioned study conducted by Forrester Consulting in March 2022 “The Economic Impact of Microsoft Dynamics 365 sales” reveals that organizations implementing Microsoft Dynamics 365 increased incremental operating profit and productivity while decreasing onboarding time, a 215% return on investments over three years, 15 per cent increase in seller efficiency, when collaborated with team members.

5) Tally ERP

Tally ERP 9 is among the popular choices for Small and Medium Businesses in India. It dynamically adapts to the way businesses operate and helps simplify business operations. It is an Indian Company based in Bangalore. Tally Solutions was co-founded by Shyam Sundar Goenka and Bharat Goenka in 1986. In 2009 the company released Tally ERP 9, a business management solution. Tally ERP 9 manages all critical aspects of business, including accounting, sales and purchase, inventory, manufacturing, taxation, payroll, and MIS reporting.  Key features include real-time updates, GST compliance, customizable reports and multi-user support.

Tally ERP can be a little complex due to its primitive user interface. While Tally has started to make its software cloud-based, it is not fully integrated yet. In 2022 Tally ERP 9 was replaced by Tally Prime. It has collaborated with AWS to make Tally Prime available on Amazon web services. Tally Prime improved upon Tally ERP 9 with a simplified interface, secured data, e-invoice with QR code, inventory management, insightful business reports, inventory management and remote access to data.

Consideration before selecting an ERP software

There are many other notable ERP software such as Infor, Epicor, Syspro, Acumatica, Financial Force, Abas ERP, Exact Macola 10 etc. However, to understand the best ERP solutions it is necessary to understand the organizational objectives and some key factors-

1.      Software Licensing, training and maintenance Cost Variations

2.      Industry-specific software module

3.      Reliability of ERP vendor

4.      Cloud Vs On-premise ERP

5.      Data Security.

Even after all this consideration implementing ERP is a challenging task. It requires careful planning and thorough maintenance to unlock the full potential of these ERP solutions.