Enterprise resource planning (ERP) software integrates core business processes onto one platform, ensuring data consistency and operational efficiency. ERP systems centralize functions such as finance, human resources, supply chain, manufacturing, and sales into a unified platform, providing real-time data visibility and easy automation.
We conduct in-depth analysis to identify the best ERP systems available today. We also perform stringent in-house tests to assess how ERP software can help businesses. Our ultimate goal is to help organizations choose solutions that align with their operational needs, budget, and scalability requirements.
Although ERP systems differ, and some have unique features, we use a standardized testing procedure for each tool. These are the main things we focus on when reviewing ERP software:
- Financial management
- Supply chain and inventory management
- Human resources and workforce management
- Analytics and business intelligence
- Scalability, integration, and security
- Additional features (CRM and industry-specific modules)
Keep reading for an in-depth overview of our testing methodology.
Why trust Cybernews?
While there are many online comparison sites, Cybernews strives for transparency by openly sharing our evaluation criteria, methodology, and data sources. We also disclose any affiliations upfront to maintain accountability and transparency.
We evaluate ERP systems using a research-driven approach. We focus on documented features and present a clear and unbiased assessment. We aim to objectively provide all the information you need to choose the best ERP system for your business needs and budget.
Our team of experts conducts thorough independent reviews of each ERP software. We base our evaluations on objective criteria and evidence, not just opinions.
Our detailed reviews cover all the crucial features an ERP software should have, including financial management, supply chain and inventory management, human resources and workforce management, analytics and business intelligence, scalability, integration, security, and extra features that add value to the system.
We thoroughly analyze each software's features and functionality using a standard methodology to ensure our reviews are objective and reliable.
Our in-house testing and methodology
When reviewing ERP tools, our researchers aim to create an objective and structured assessment. That’s why our methodology for evaluation is completely research-driven and is centered on analyzing documented features. Here’s a breakdown of our review process:
Step 1: Research ERP tools
We gather information about ERP systems from official sources, such as vendor websites, whitepapers, product datasheets, and industry reports. Once we have all of the necessary information, we’ll compile a comprehensive list of the features and capabilities of the ERP tool.
Step 2: Assessing features and functionality
We assess the features and functionality of each ERP system using a standardized framework. Here’s a breakdown of the five main functionalities we look for in ERP software:
- Financial management. We check if the ERP tool can help businesses with budgeting, tax compliance, multi-currency support, and financial reporting.
- Supply chain and inventory management. We explore features of the ERP software that streamline procurement, inventory tracking, demand forecasting, and logistics.
- Human resources and workforce management. We also look for features that simplify payroll, recruitment, performance tracking, and self-service portals.
- Analytics and business intelligence. We examine the software for reporting tools, predictive analytics, and customizable dashboards.
- Scalability, integration, and security. We check if the system offers API support, role-based access controls, and built-in compliance tools.
We also check whether the ERP software has additional features, such as CRM functionality and industry-specific modules, that can be widely applicable.
Step 3: Reviewing each provider
Once we have a clear picture of the features and functionalities of an ERP tool, we systematically analyze the system. These are some of the main things we focus on:
- Feature mapping. The first step is to compare the ERP provider’s documented features and functionality against our list of must-have features for ERP tools.
- Depth of features. We assess the comprehensiveness of its modules, such as whether there are advanced analytics and supply chain tools or whether it only has basic ERP features.
- Industry-specific offerings. We evaluate pre-configured workflows and compliance tools to see whether the ERP system is tailored to a particular industry or suitable for businesses in different fields.
- Scalability and integrations. We check the platform’s flexibility, modularity, and compatibility with third-party tools.
Step 4: Consolidating our findings
We compile the results of our analysis into a detailed review, providing readers with insights into the features, strengths, limitations, and suitability of an ERP system for various industries and businesses.
Our exhaustive research and tests ensure we can provide objective information about ERP tools to help you decide whether a particular software meets your operational needs, budgets, and scalability requirements.
Core features of an ERP system
Now that you understand our review methodology, let’s discuss the core features and functionality of ERP systems in more detail to highlight what we look for in the tools we recommend:
Financial management
The financial management features of ERP software help streamline your business' finances. Here are some of the key financial management tools we look for in an ERP system:
- General ledger. This is a centralized record of all financial transactions, which can be useful for tracking income and expenses.
- Budgeting and forecasting. We review all the budgeting tools that help you plan your finances and predict future cash flow.
- Multi-currency support. We look into the ERP system’s ability to handle international transactions and financial reporting.
- Compliance tools. This refers to all of the built-in features which ensure adherence to tax laws and regulations.
- Financial dashboards. We assess the ERP system’s dashboard to see if it provides real-time insights into key metrics like revenue, expenses, and profit margins.
Supply chain and inventory management
As the name implies, supply chain and inventory management features help businesses simplify their workflow. We look for the following supply chain and inventory management features in ERP systems:
- Procurement management. We review whether ERP systems have procurement management features that streamline the purchasing process — from vendor selection to order approval.
- Inventory control. This helps you track stock levels, movements, and replenishments across warehouses.
- Demand forecasting. This uses historical data to predict future inventory needs and optimize stock.
- Logistics management. This helps you monitor shipments, delivery schedules, and freight costs.
- Order fulfillment. We check if the ERP system can automate order processing to improve speed and accuracy.
Human resources and workforce management
Aside from simplifying the operational processes of your business, ERP systems can be handy for managing your workforce. We scrutinize each ERP tool for the following human resource and workforce management features:
- Employee records. We check if the ERP software has a centralized database for managing employee data and documentation.
- Payroll automation. We ensure the ERP system provides accurate and compliant salary processing and tax deductions.
- Recruitment tools. We assess whether the ERP system can streamline hiring with applicant tracking and onboarding workflows.
- Performance tracking. We look for tools in the ERP system that help monitor employee achievements and facilitate goal-setting.
- Self-service portals. We explore ERP tools for features that allow employees to access pay stubs, request leave, and update personal information.
Analytics and business intelligence
These are some of the analytics and business intelligence features we look for in an ERP tool:
- Customizable dashboards. We check if the software provides role-based insights tailored to specific needs and KPIs.
- Real-time reports. We choose ERP systems that offer instant access to operational and financial performance metrics.
- Predictive analytics. With the rapid development of AI technology, we ensure the ERP systems we recommend can use historical trends and AI to forecast future business outcomes.
- Data visualization. We check if the software can convert raw data into charts and graphs for easy interpretation.
- Integration with third-party tools. We check if the ERP system works seamlessly with third-party tools like Tableau or Power BI.
Scalability, integration, and security
As your business grows, you need tools that can be scaled to meet your evolving needs. So, we check whether each ERP software is scalable. We also look out for features that can support your business growth and keep your confidential information safe. These are some key features we look for in ERP systems:
- API integration. The ERP system must be able to connect with other software solutions, such as CRM or eCommerce platforms.
- Cloud access. It should allow you to work remotely and develop collaborations via secure, cloud-based systems.
- Role-based permissions. To ensure maximum safety, we check whether the ERP system can restrict access to sensitive data based on user roles.
- Regulatory compliance. We check whether the ERP software complies with GDPR, SOX, and other data protection laws.
- Scalability. We check whether the ERP system can adapt to business growth, i.e., adding new users, locations, or subsidiaries.
Additional features
Depending on your business needs, you may require additional ERP features. Some of the extra features of ERP systems with broad applications are CRM and industry-specific modules.
CRM functionality
CRM, or customer relationship management, are tools that help to manage a company’s interactions with customers. When integrated into ERP systems, they ensure smooth customer relationships.
When we review if an ERP system has CRM functionality, we usually focus on features like:
- Lead management. This helps you track customer opportunities throughout the sales funnel.
- Customer order tracking. This lets you track and sync all customer purchases with back-end inventory and invoicing.
- Sales forecasting. This allows you to make accurate revenue predictions according to historical sales data and current trends.
- Marketing integration. This allows you to use customer data to support marketing campaigns for improved targeting.
- Support management. This helps you centralize customer inquiries and resolve issues.
Industry-specific modules
Industry-specific modules are essential if you plan to use the ERP software for a particular niche. We check whether the ERP tools we review come with industry-specific modules for:
- Healthcare. We check if ERP systems offer tools for patient management, billing, and compliance with healthcare regulations.
- Retail and eCommerce. We check if ERP tools have features like POS integration, omnichannel order management, and demand forecasting.
- Manufacturing. We evaluate ERP systems for advanced capabilities that support production scheduling, shop floor monitoring, and inventory optimization.
- Professional services. We scrutinize ERP tools for professional services, such as modules for project accounting, resource management, and time tracking.
- Wholesale and distribution. We check for features that support multi-location inventory tracking, demand planning, and warehouse automation.
- Nonprofits. We check whether ERP software has features for nonprofits, such as fund accounting, donor management, and grant tracking.
- Construction: We check whether ERP systems offer tools for tracking project costs, allocating resources, and managing contracts.
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