We are now in the home stretch year 2020. If you are an executive or an IT manager to make new enterprise resource planning (ERP), you may face an uphill battle. Many companies are concerned about internal resources, extra services and hidden costs in implementing the new systems. Hence, experts say, it is very important to take a full evaluation of the resources.
In 2020, the trend is moving toward combining business intelligence with the Internet of Things (IoT). As per a new report, IoT alerts whenever machinery needs maintenance. It is a sector which is continuing to move the cloud. As per the report from Panorama Consulting Group, many software vendors were compared across the functionalities to determine which is best. Besides, the report looks at independent consultants when the organizations seek outside expertise.
The report finds that most of the vendors are having a strong focus on CRM and e-commerce functionality. Clients opt for the solutions out of the box rather than customization. Getting stakeholders on board, a strong project team and determining new software requirements should be the IT professionals’ goals if they wish to move to a new vendor.
Here are the top 10 ERP implementation for enterprises in 2020:
- SAP
- Oracle ERP Cloud
- Microsoft
- Netsuite
- Servicenow
- Workday
- Peoplesoft
- Salesforce
- Deltek
- Sage Enterprise Management
1. SAP:
According to Waldorf, Germany, SAP is considered as the frontrunner for big enterprises. Anyway, the process of implementation can be lengthy. Often, it is well-tailored to many organizations. SAP S/4 HANA which is called as the Analytics appliance with high-performance. It is a column-oriented, use-memory and also relational technology to speed up the data retrieval. It can also act as an intermediate source between databases and software requesting data. It also has cloud solutions like Hybris and Ariba that help in consolidating the landscape of the system. By design itself, the SAP is ideally suitable for midsize and small companies, “provide customer relations, comprehensive functionality of sales and financials.”
2. Oracle ERP Cloud:
Oracle is considered as the top name in the ERP business for large enterprises, and especially it is suited for the acquisition of NetSuite is offering a solution to deliver add-on functionality as Netsuite harnessing. As per the report of Waldorf, Oracle is a comprehensive and integrated suite of procurement, financials, risk management, project management, performance management of the enterprise which are empowered by artificial intelligence and machine learning. It also led to Magic Quadrant for the cloud of financial management, which is suitable for midsize, large and global enterprises. This research was done under Panorama. In some particulars, the Netsuite can excel in fast-growing, IPO and midsize businesses, and it can provide dashboards, pre-configured workflows, KPIs, functional roles and enabling rapid implementation.
3. Microsoft:
If you are already using Microsoft’s technology, then choosing Microsoft for Enterprise Resource Planning is a smart idea. Microsoft offers many products for both mid-sized and small organizations and is growing at a rapid force, going forward it looks towards large organizations as well. As per research, Microsoft has a very strong ecosystem of ISV channels by providing last functionality well.
It is a Dynamics 365 Business Central, which offers the following features:
- Targeted for the midsize and small market.
- Based on best practices of SL, GP and Dynamics NAV.
- Recently rebuilt in Microsoft Azure technology by making it a perfect SaaS model for the options of deployment.
4. Netsuite:
It’s software that enables companies in managing all important business processes in one system. The service involves no upfront license fee, no hardware, no maintenance fee and no complex set-ups. Many companies use NetSuite for ERP (Enterprise Resource Planning) and to track their financials, to manage inventory, maintain CRM systems, and high e-commerce stores. It is a flexible platform that can be applied to a wide range of business applications. Many countries are turning now to the cloud for business systems to lower the operating costs. The Netsuite ERP runs the business process financial key, supply chain management, cloud accounting, and order management.
5. Servicenow:
It is a platform of cloud-based workflow solutions to help in the efficiency of the organizations. It can also provide efficiencies in various areas like Human Resource, Information & Technology, customer service management, and security operations. It is often said to be improving in its operations. Servicenow has many features that draw the companies to the new technologies.
There are many features for Servicenow:
- Machine learning capabilities are incorporated to the Servicenow platform. Artificial Intelligence assists customers and it is capable of providing problem support and self-service.
- It’s easy to use code development. It unables to use code-less workflows with a natural language environment to speed up the processes of business.
- Useful forecasting dashboards and real time data contain what we see in many of the software applications.
6. Workday:
For large and medium enterprises, workday provides HCM. Now, it has grown as a full Enterprise Resource Planning solution by offering an ecosystem expanding and a flexible product. With the focus on reports and financial management, the workday solution is growing it as an end-to-end ERP.
- Workday is successful in the below fields:
- Financial Services
- Higher Education
- K-12
- Media & Entertainment
- Retail and Technology
- Communications
- Government
- Hospitality
- Life Sciences
- Nonprofit
- Energy and Resources
- Healthcare
- Insurance
- Manufacturing
- Professional and Business Services
7. Peoplesoft:
Peoplesoft is a product of e-business software owned by Oracle. It is originally offered finance applications and human resources. Over the years, Peoplesoft has added applications and tools for business processes like specific industry applications like communications, automotive, higher education fields and material management. At present, Peoplesoft offers users with an ERP software package which assists in the execution of many business operations.
8. Salesforce:
It is a SaaS (Service as a Software) company which is specialized in CRM (Customer Relationship Management). The services of salesforce allow the businesses to have cloud technology to connect with partners and customers. Salesforce software has become the one for the success of the customer and it can help to market to customers, track the customer activity and many other services.
9. Deltek:
Deltek is considered as an experiencing expansion period which offers many options for large and small enterprises with more flexibility in the basic functionality. The vendor can also resolve regulatory and operational needs of the manufacturing companies, help in invoicing and material management with the financial tools, client management for engineering and architecture firms.
Deltek offers:
- Resource Management
- Accounting & Financial Management
- Reporting & Business Intelligence
- Project Management
- Pipeline and CRM Management
10. Sage Enterprise Management:
The ERP of the sage can work with clients across the world from big firms to startups, has an end-to-end interface functionality to the leading high rates of adoption. Together Sage 100Cloud, Sage Cloud X3, and Sage 300Cloud offer customer service, financial management, distribution, sales, and manufacturing, as well as business intelligence functionality and inventory.
ERP systems – Which are not there in the list:
Many of the ERP systems didn’t make a list. Moreover, they can also be fit for your business. So, it is important to overcome your limitations and let’s see a few more ERP systems:
- Rovisys
- Deacom
- Best of breed solutions
- Plex Systems
- Priority Software
- Acumatica
Top ERP systems – Largely dependent on industry, company size, and strategic goals:
The best ERP solutions for your business will largely depend on the industry, your company size, and strategic goals. In which one may not make the company’s top ten, that could also stand at one. For example, the comparison of Microsoft Dynamics 365 vs SAP S/4HANA can illustrate two products which aren’t able to match.
Tips for selecting the best ERP system:
Often ERP projects deliver some minimal benefits. It is because they are not aligned with the strategic goals of the company. It’s a clearly defined goal which helps you to evaluate functionals on a software basis. For example, if your organization or company wants to improve the services, then one of your requirements of ERP might be able to order inventory when it reaches a level automatically for the sales department. By using this functionality, the sales department is able to provide customers easily with a delivery date and thus improve the experience of the customer.
Understand the ERP market – It is extremely important to know about the Internet of Things (IoT) and artificial intelligence because the vendors have the definitions for everything. In comparison, some vendors may consider Artificial Intelligence to solve problems and autonomously learn things. It’s essential to understand how vendors work under AI because most of the ERP systems are very complicated and expensive to integrate fully. Some of the large enterprises with resources and money can achieve long-term ROI.
Many of the organizations face resource constraints to assist with the selection of ERP. If your company doesn’t have sophisticated IT resources, then hire external resources. Suppose, if your company already has enough IT resources, then you have to focus on backfilling the roles.
Conclusion:
These are the top ten ERP implementations for enterprises in 2020. There may be more, but most often the organizations use these vendors. Hope you found some useful information from the article. Still, you have any queries, feel free comment below.