Best ERP Software for Small Business in 2024 & Beyond

As your business grows, managing various functions like inventory, finance, and human resources can become increasingly complex. This is where Enterprise Resource Planning (ERP) software comes in.  

ERP systems streamline operations by integrating different business processes into a single, cohesive platform, providing real-time insights and enhancing overall efficiency. 

The ERP software market will grow at a CAGR of 10.5% from 2022 to 2032, as shown in the figure below.

If you want to build or integrate an ERP system, choosing the right software is essential. The right ERP solution can significantly impact your business's scalability, operational efficiency, and decision-making capabilities. In this blog, we will explore the ten best ERP systems for small businesses in 2024 and beyond, along with their key features and pricing plans. 

Ready to take your business to the next level with custom ERP solutions? Contact us for a customized ERP system designed to meet your specific needs and drive your success. 

What are the Best ERP Systems for Small Businesses? 

The best ERP systems for small businesses integrate features like financial management, inventory control, CRM, HR, and supply chain management. Such enterprise resource planning solutions enhance operational efficiency, streamline processes, and support scalability. 

Here is a list of the top ten ERP systems you need to look for in 2024 & beyond: 

1. Oracle NetSuite: Best ERP System for Comprehensive Cloud ERP solutions
2. Odoo ERP: Best ERP System for All-In-One Solution 
3. Microsoft Dynamics 365 Business Central: Best ERP System for Seamless Integration with Microsoft Tools 
4. SAP S/4HANA Cloud: Best ERP System for Real-Time Analytics and Automation 
5. SAP Business One: Best ERP System for Small to Mid-Sized Businesses 
6. SYSPRO: Best ERP System for Distribution Companies 
7. Acumatica: Best ERP System for Role-Based Solutions 
8. Infor: Best ERP System for Industry-Specific Solutions 
9. Epicor: Best ERP System for Manufacturing & Distribution 
10. Sage Intacct: Best ERP System for Financial Management

Top 10 ERP Software for Small Business at a Glance 

Oracle NetSuite 

Best ERP System for Comprehensive Cloud ERP Solutions

Oracle NetSuite is a popular cloud-based ERP system ideal for small and medium businesses seeking streamlined operations and competitive advantage. It enhances efficiency, supports global operations, and adapts to business growth.  

Key Features: 

• Transform your general ledger, enhance accounts receivable, automate accounts payable, and simplify tax management.  
• NetSuite offers robust tools for managing inventory across multiple locations, setting reorder points, overseeing replenishment, and optimizing safety stock. 
• NetSuite Enterprise Performance Management integrates planning, budgeting, forecasting, account reconciliation, financial closing, and reporting processes across your organization. 
• Streamline the movement of goods or materials throughout an extensive supply chain. 

Pros & Cons of Oracle NetSuite: 

Pricing Plan: 

NetSuite's pricing generally starts around $999 per month for the basic package. 

Odoo ERP 

Best ERP System for All-In-One Solution

If you’ve moved beyond using spreadsheets or basic accounting and inventory software, Odoo ERP is the right choice. It’s an open-source Enterprise Resource Planning platform that streamlines operations by consolidating sales, inventory, accounting, and more into a unified system. This ERP software is renowned for its modular design and flexibility.   

Key Features: 

• Offers a wide range of integrated modules that can be customized to fit various business needs, including CRM, accounting, inventory, manufacturing, and more. 
• Automates workflows, improving efficiency and reducing manual effort. 
• Provides a single platform for managing all business processes, ensuring seamless integration between different functions such as sales, finance, and operations. 
• Integrates with e-commerce platforms to manage online sales and inventory seamlessly. 
• Offers cloud-based and on-premises deployment options as per your business needs. 

Pros & Cons of Odoo ERP Software: 

Pricing Plan: 

Odoo ERP comes with three pricing tiers: 

One App: Free 

• For one app only, unlimited users 
• Includes Odoo Online 

Standard: For All apps 

• $31.10/user/month (annual billing)  
• $38.90/user/month (monthly billing) 

Custom:  

• $46.70/user/month (annual billing)  
• $58.40/user/month (monthly billing) 

Microsoft Dynamics 365 Business Central 

Best ERP System for Seamless Integration with Microsoft Tools

If you own a small to medium-sized business and want to integrate financial management, sales, services, and operations, Microsoft Dynamics 365 Business Central is the ideal choice. This cloud-based ERP solution automates workflows and delivers real-time insights, effectively addressing challenges in managing financials, supply chains, and customer relationships. 

Key Features: 

• Provides advanced reporting and analytics tools that deliver actionable insights, enabling data-driven decision-making. 
• Enhances manufacturing operations with robust tools for production planning, scheduling, and control, improving efficiency and product quality. 
• Seamlessly integrates with other Microsoft products and third-party applications, offering a unified and cohesive business management experience. 
• Automates and streamlines the sales order process from quote to cash, ensuring accuracy and speed in customer transactions. 
• Supports extensive customization through add-ons and extensions, allowing businesses to tailor the software to meet their specific needs. 

Pros & Cons of Microsoft Dynamics 365 Business Central: 

Pricing Plan: 

This ERP system offers two main pricing tiers: 

Basic:  

This plan starts at $70 per user/month and includes core financial, supply chain, CRM, and project management features. It is suitable for businesses that want comprehensive ERP functionalities.  

Premium:  

Prices start at $100 per user/month. This plan includes all features plus service management and manufacturing. It's an ideal ERP plan if your business needs more advanced capabilities, especially in manufacturing and distribution.  

SAP S/4HANA Cloud 

Best ERP System for Real-Time Analytics and Automation

SAP S/4HANA Cloud is a powerful, scalable, and flexible ERP solution that will help your business in real-time operations, driving innovation and achieving quicker time-to-value. You can deploy it either on-premises, in the cloud, or a hybrid combination.  

Key Features: 

• Embedded AI and machine learning capabilities to automate processes, predict outcomes and enhance decision-making. 
• Comprehensive analytics and reporting tools that provide deep insights into business operations, helping to identify trends and opportunities. 
• It supports multiple languages and currencies and is compliant with local regulations, making it suitable for global operations. 
• Robust security measures and compliance with international standards and regulations, ensuring data protection and regulatory adherence. 
• Mobile-enabled access allows users to manage and monitor business operations from anywhere at any time. 

Pros & Cons of SAP S/4HANA Cloud: 

Pricing Plan: 

Essential Plan 

Price: Starting at $1,500 per user/month 

Features: 

• Core ERP functionalities 
• Financial management 
• Supply chain management 
• Basic analytics and reporting 

Standard support 

Professional Plan 

• Price: Starting at $2,500 per user/month 

Features: 

• All features in Essential Plan 
• Advanced analytics and reporting 
• Human capital management 
• Sales and customer management 
• Enhanced support with faster response times 

SAP Business One 

Best ERP System for Small to Mid-Sized Businesses

SAP Business One is known for its affordability and scalability, making it an ideal choice for growing SMBs. This comprehensive enterprise resource planning ERP solution offers integrated management of business functions across financials, sales, customer relationship management (CRM), inventory, and operations.  

Key Features: 

• Manages the entire sales process and customer lifecycle from initial contact to final sale and after-sales service. 
• Manages procurement processes, streamlines inventory levels, and optimizes order processes. 
• Enhances manufacturing processes with tools for planning, scheduling, and production control. 
• Provides robust reporting, real-time analytics, and dashboards to make informed decisions. 
• Provides efficient handling of service operations, contract management, and customer service. 
• Optimizes warehouse operations, streamlines production processes, and improves supply chain efficiency. 

Pros & Cons of SAP Business One: 

Pricing Plan: 

• Starter Package: Approximately $1,400 per user (one-time license fee) plus annual maintenance costs. 
• Professional License: Around $3,213 per user (one-time license fee) plus annual maintenance costs. 
• Limited License: Approximately $1,666 per user (one-time license fee) plus annual maintenance costs. 

SYSPRO 

Best ERP System for Distribution Companies

Whether you are in manufacturing or distribution, SYSPRO Cloud ERP solutions are packaged to suit your industry-specific requirements. It handles business processes in many functional areas, including operations and supply chain, finance and accounting, IT, and executive management.  

Key Features: 

• Offers an interactive web platform that streamlines online business interactions with suppliers. 
• Supports seamless, out-of-the-box integrations with Governance, Compliance, and Supply Chain Management connectors. 
• Includes forecast and advanced inventory optimization capabilities that allow businesses to create varying demand sources 
• Allows for the capturing management, and resolution of customer complaints 

Pros & Cons of SYSPRO: 

Pricing Plan: 

On-Premise: 

• One-Time License Fee: Typically ranges from $3,000 to $5,000 per user. 
• Cloud-Based: 
• Monthly Subscription Fee: Typically ranges from $150 to $300 per user per month. 
• Annual Subscription Fee: Often discounted compared to the monthly rate, usually ranging from $1,500 to $2,800 per user per year. 

Acumatica 

Best ERP System for Role-Based Solutions

One of the top ERPs (Enterprise Resource Plannings) for small businesses is Acumatica.It provides a comprehensive suite of modules covering everything from reporting and centralized security to an integrated digital document system and streamlined order management. 

Key Features: 

• Industry-specific versions are available, including options for Commerce, Manufacturing, and Distribution. 
• Customer Relationship Management (CRM) provides real-time data on customer insights, activities, quotes, and more. 
• Project accounting supports complex billing rules based on project attributes. 
• Financial applications are tailored for the needs of complex multinational enterprises. 

Pros & Cons of Acumatica: 

Pricing Plan: 

License Type: 

• SaaS Subscription: $1,000 - $20,000/month 
• Private Cloud: $1,200 - $22,000/month 
• On-Premises: $20,000 - $200,000+ 

User Licenses:  

• Complete access to all features: $50 - $200 per user/month 
• Restricted access to specific functionalities: $20 - $50 per user/month 

Infor 

Best ERP System for Industry-Specific Solutions

Infor ERP is a powerful solution if you want to enhance their operational efficiency, improve decision-making, and achieve better overall performance. It will help you manage various core business functions such as finance, human resources, supply chain, manufacturing and CRM.  

Key Features: 

• Offers seamless connectivity both within and outside the organization, facilitating visibility, collaboration, and predictive insights. 
• Integrates AI/ML models like Dynamics 365 to predict, recommend, and generate industry insights. 
• Provides enterprise-level business intelligence, reporting, and analytics. 
• Supports hyper-scaling, automatic updates, and access to applications and data from anywhere. 
• Features pre-built industry-specific capabilities with ready-made workflows, content, integrations, analytics, and more. 

Pros & Cons of Infor: 

Pricing Plan: 

• Infor CloudSuite: Subscription-based pricing can range from $150 to $300 per user per month, depending on the specific CloudSuite product and modules included. 
• Infor LN/M3/SyteLine: On-premise solutions might have a starting license fee in the range of $20,000 to $50,000, with additional costs for modules, users, and customization. 

Epicor 

Best ERP System for Manufacturing & Distribution

Take your manufacturing business to the next level with Epicor. It is one of the best ERP systems for small businesses across different industries including manufacturing, distribution, retail and many more.  

It provides companies flexibility to select the deployment model as per their IT infrastcurture and business needs. This scalable and adaptable ERP solution can be deployed on-premises or in the cloud.  

Key Features: 

• Includes embedded warehouse management functionality, enabling paperless picking sent directly to scanners based on order priority. 
• Offers inventory management with real-time information, integrated inventory receipts, purchase orders, and more. 
• Provides analytics tools featuring real-time business intelligence. 
• Features real-time production and process monitoring for manufacturers. 
• Includes quote and order management with product configurators, mobile sales, opportunity tracking, and more. 

Pros & Cons of Epicor: 

Sage Intacct 

Best ERP System for Financial Management

If your business need advanced financial management capabilities, Sage Intacct ERP is the best solution. Designed for SMBs, it provides advanced reporting, multi-entity management, and real-time visibility into financial data. 

Key Features: 

• Offers cloud-based solutions for accounting, planning, HR, and payroll tailored for small and medium-sized enterprises. 
• Delivers immediate and predictive performance analytics. 
• Features AI-driven processes and interconnected workflows for tasks such as accounting, billing, and procurement. 
• Supports integration with Salesforce CRM. 

Pros & Cons of Sage Intacct: 

Pricing Plan: 

Base Software Subscription: 

• Generally, it ranges from $400 to $1,000 per month, depending on the scale and complexity of the implementation. 

User Licenses: 

• Charges per user may apply, usually starting at $50 to $150 per user per month. 

How to Choose the Best ERP System for Small Business in 2024?

Here are a few factors you need to consider when choosing the right ERP system for your organization.  

Essential Features 

• Integrations: The best ERP system for your company should seamlessly integrate data from various departments—HR, IT, accounting/finance, CRM, and others. This unified interface ensures smooth coordination of workflows across different business areas. 
• Shared Database: A shared database allows all connected software systems within the ERP to access real-time data for every user, regardless of which module they are using. 
• Automation: Automation streamlines cross-functional workflows, such as those involving HR and accounting, by speeding up repetitive tasks and improving efficiency. 
• Analytics and Reporting: An effective ERP system provides actionable business intelligence, offering insights into both internal and external factors that impact the entire business. 
• Security: Given the extensive data managed by an ERP system, robust security measures are essential. This includes data encryption, automatic backups, multifactor authentication, and continuous system monitoring. 

Types of ERP Systems 

• On-Premise: On-premises ERP software is installed on company computers and servers. A one-time upfront payment is required for a perpetual license. Ideal for organizations handling confidential information, this solution allows for customization to fit specific business processes while keeping data in-house.
• Cloud-Based: Cloud-based ERP systems operate on remote servers rather than local hardware. They are cost-effective, easier to maintain, and quicker to deploy compared to on-premise solutions. However, cloud-based ERPs may offer less customization and rely on the cloud provider for ongoing support. 
• Hybrid: A hybrid ERP system combines elements of both cloud-based and on-premise solutions. Typically, it includes an on-premise system for corporate functions and a cloud-based system for business units or locations. This approach provides flexibility and cost savings while meeting specific needs. 

ERP System Cost 

ERP system costs generally start around $9,000 per user per month. Small businesses spend an average of $1,740 per month, while enterprises expect costs of around $9,330 per month. These figures do not include additional fees for users, implementation, training, and maintenance. 

Cost Factors 

Customization, the number of users, and the number of modules required influence overall costs. Pricing models vary and can include one-time licenses (standard with on-premise solutions), flat monthly or annual fees, or per-user fees, sometimes combined with a flat fee. 

Integration Considerations 

When integrating a new ERP system, consider the time, cost, and resources required. Depending on the complexity of the implementation, integration can take six months to over two years. 

Here are a few questions you need to ask: 

• Do you need to hire an implementation consultant? 
• Will the vendor provide integration support?  
• What is the ERP integration cost?  

By considering these factors and asking these questions, you can find the right enterprise resource planning system for your small business. 

How Can an ERP System Help Your Business? 

Here are a few benefits of using an ERP system: 

• Real-time Data: Access up-to-date information across all departments, enabling informed decision-making. 
• Improved Efficiency: Automate repetitive tasks and workflows, saving time and resources. 
• Enhanced Collaboration: Foster better communication and teamwork between departments. 
• Increased profitability: Reduced costs through better inventory management, optimized workflows, and improved resource allocation. 
• Reduced Errors: Streamlined processes minimize errors caused by manual data entry. 
• Enhanced Customer Satisfaction: Faster order processing, improved inventory accuracy, and efficient after-sales service lead to happier customers. 
• Gain a Competitive Edge: Streamlined operations and real-time data insights empower you to make data-driven decisions and gain a strategic advantage. 
• Improved Regulatory Compliance: ERP systems can help ensure adherence to relevant regulations by automating reporting and data management. 
• Scalability: Accommodate your business growth with an ERP system that can adapt to your changing needs. 

Choosing the best ERP software for your small business in 2024 involves balancing cost, functionality, and scalability. NetSuite, Odoo, SAP Business One, and Microsoft Dynamics 365 Business Central each offer unique advantages tailored to different business needs.  

Assess your requirements, budget, and growth plans to select the ERP system that will best support your business objectives. 

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From initial consultation to deployment and ongoing support, our dedicated development team ensures a system that enhances efficiency and drives business growth. Experience the power of a bespoke ERP solution with VLink, which is designed to fit your processes and deliver actionable insights.