The best ERP systems for B2B organisations

What is an ERP system?

ERP (Enterprise Resource Planning) software is a comprehensive platform that connects individual teams across an enterprise and gives each user the tools they need to do their jobs efficiently. These systems play a vital role in the operations of a company, offering centralized platforms to manage various aspects of business processes. From finance and procurement to inventory management and customer relations, ERP systems streamline operations, enhance efficiency, and support informed decision-making.

Here's some common features of ERP software, categorised by business department:

• Accounting and finance: tax management, general ledger, financial reporting, transaction data
• Inventory and warehousing: inventory tracking, inventory management automation, stock replenishment, wave management, shipping integrations
• Orders and fulfillment: invoicing, reporting, payment processing, order tracking, order validation, dropshipping
• Supply chain: production data, outstanding order tracking, demand analysis, mobile device tracking
• Marketing and sales: client communication, forecasting, customer acquisition cost reporting, workflow management, project analytics

With an ERP system in place, data collected by one department is instantly available to anyone who needs it in any other department. 

For example, a wholesaler may use sales orders initiated by the billing team to trigger shipments fulfilled in the warehouse. An ERP system ensures the warehouse manager can see updated order information being processed by the billing manager, while the accounting department stays up to date on all revenue and expense data.

The best ERP systems

Now, before we go on a quest to find the Holy Grail of ERP systems, let's get one thing straight: there is no one-size-fits-all solution- it’s impossible to crown one ERP system as “the best”

Many systems focus on a particular niche, or a certain feature that they do really well. Depending on your business and how you operate, there will definitely be some systems that are more suitable for you than others!

Without further ado, let's meet some of the contenders:

Microsoft Dynamics 365

Pros

Integration with Microsoft's suite of products, including Office 365 and Azure, ensures seamless collaboration and familiarity for users. Its user-friendly interface facilitates quicker adoption and reduces training time.

Cons

Pricing may be prohibitive for smaller businesses, and customization options may require technical expertise. Organizations not entrenched in the Microsoft ecosystem may encounter integration challenges.

Oracle NetSuite

Pros

NetSuite's scalability makes it suitable for businesses of all sizes, especially those experiencing rapid growth. Its comprehensive suite covers various business functions, from financial management to supply chain operations.

Cons

Licensing fees can be high, particularly for smaller organizations. Customization may necessitate specialized skills or third-party assistance, adding to the overall cost.

SAP

Pros

Renowned for reliability and innovation, SAP offers a comprehensive feature set and industry-specific solutions. Its flexibility allows for customization to meet unique business requirements.

Cons

Implementation and deployment can be resource-intensive and time-consuming. The initial investment and ongoing maintenance costs may be substantial.

OrderWise

Pros

OrderWise provides end-to-end solutions tailored to specific industries, such as wholesale, distribution, and manufacturing. Its modular design allows for scalability and customization to meet evolving business needs.

Cons

While OrderWise offers comprehensive functionality, some users may find the interface less intuitive compared to other ERP systems. Additionally, pricing structures may not be as transparent as desired.

Katana

Pros

Designed specifically for small and medium-sized manufacturers, Katana offers a user-friendly interface and intuitive workflow. Its visual production planning tools streamline manufacturing processes and improve efficiency.

Cons

Katana's focus on manufacturing may limit its suitability for businesses with diverse operational requirements. Integration capabilities with other systems may be limited, requiring manual data entry or third-party solutions.

In conclusion, selecting the right ERP system for your B2B organization involves assessing factors such as functionality, scalability, cost, and ease of integration. While each system has its strengths and weaknesses, aligning your choice with your business goals and requirements is key to maximizing its benefits. By conducting thorough research and engaging with vendors, you can make an informed decision that drives operational excellence and business growth.