The 15 Best ERP Systems for 2024 (Market Size, Features and Cost)

Selecting the best ERP system for your business can feel like searching for a unicorn. 

The right ERP, or Enterprise Resource Planning, system will act as the central nervous system of your business. It needs to be powerful yet user-friendly, scalable yet cost-effective and adaptable to your specific industry. 

An ERP system integrates departments like accounting, marketing and operations, fostering seamless communication and streamlined workflows. By implementing the best ERP for your needs, you can expect to boost efficiency, reduce costs and gain valuable insights to propel your organization forward.

There are dozens of options available when it comes to ERP systems, each with its own strengths and weaknesses. To help you narrow down your search, we've compiled a list of the 15 best ERP systems for 2024, depending on your needs and business size.

Best for Finance Management

Focusing on your organization’s financial health is crucial for sustainable growth. In this section, we’re identifying the best ERP systems designed to streamline core accounting tasks, automate workflows and generate in-depth financial reports. 

These solutions can improve financial accuracy, enhance regulatory compliance and drive profitable growth for your business by providing increased visibility into cash flow and empowering informed financial decisions.

Sage Intacct

Sage Intacct is a cloud-based ERP system that prioritizes real-time access to financial and operational data, automates processes and offers a wide range of reporting functionalities delivered in a user-friendly interface. 

It boasts a comprehensive suite of features for accounts payable/receivable, budgeting, financial reporting and broad-scope general ledger functionality. Its integration capabilities allow seamless connection with other financial applications your company might use. 

Key Features

• Access up-to-date financial information in real time from anywhere
• Includes features for automatic invoice processing, recurring transactions and financial consolidations
• Customizable financial reports and advanced budgeting functionalities improve financial planning accuracy
• Consolidate financials across multiple entities and ensure regulatory compliance
• Pre-built dashboards and intuitive data visualization tools help uncover trends and identify opportunities to improve your business’s financial health

AccountMate

AccountMate stands out as a user-friendly and affordable ERP system designed specifically to optimize financial management for small and mid-sized businesses. 

Unlike some complex ERP solutions, AccountMate prioritizes a clean interface, intuitive functionality and a range of accounting features. This focus makes it an attractive option for businesses seeking to centralize financials, automate workflows, and gain financial insights without overwhelming complexity.

Key Features

• Intuitive interface simplifies navigation and data entry, decreasing training requirements and improving user adoption
• Streamlines accounting tasks by automating core accounting workflows to improve efficiency and reduce manual errors
• Detailed financial reports allow you to drill down into specific transactions or accounts
• Tailor workflows, user permissions, and chart of accounts reports to match your accounting needs
• Inventory management option provides features for stock tracking, purchase orders, and cost of goods sold calculations

Certinia

Formerly known as FinancialForce, Certinia is a cloud-based ERP system focused on service businesses and designed to enhance financial management within Salesforce environments. While most traditional ERP systems require separate logins and data integration with Salesforce, Certinia leverages native integration with Salesforce, offering a seamless user experience and unified data set.  

This focus on Salesforce integration empowers businesses to unify customer, financial, and operational data, gain real-time financial insights and automate core accounting tasks within a familiar platform.

Key Features

• Seamlessly integrates with Salesforce CRM data, eliminating the need for data importing/exporting and ensuring data consistency
• Automates complex revenue recognition processes per relevant accounting standards
• Able to manage recurring revenue streams, including subscription billing, automatic renewals, and dunning management
• Generate customizable financial reports and leverage pre-built dashboards within Salesforce
• Consolidates financial data across multiple entities or subsidiaries for a holistic view of your company's financial health

Best for Mid-Market

Mid-sized businesses require an ERP that strikes a balance between affordability, functionality and scalability — leaving room for the system to grow with the business. These ERP systems deliver precisely that, offering feature-rich platforms designed to support mid-market businesses.

Microsoft Dynamics 365 Business Central

Microsoft Dynamics 365 Business Central is a cloud-based ERP system designed specifically for small and mid-sized businesses. Known for its user-friendliness and rapid implementation, Business Central boasts a quick ROI (within a year), making it an attractive option for businesses seeking to boost efficiency and profitability.

It's important to note that while Microsoft Dynamics Great Plains (GP) has been a popular Microsoft ERP solution for many years, the company plans to discontinue sales of new licenses for that product in April 2025. As a result, many existing Dynamics GP users are transitioning to Dynamics 365 Business Central. 

Key Features

• Connects with Excel as an add-in along with other Microsoft products and services, creating one unified platform
• Leverages artificial intelligence (AI) tools to provide predictive insights and drive proactive strategies
• Offers an extensive marketplace of third-party apps, allowing customization of the system
• Manages finance, supply chain, manufacturing, distribution, project automation, regulatory compliance, etc.

SAP Business One

Tailored to meet the needs of growing small and mid-sized businesses (SMBs), SAP Business One streamlines operations and centralizes critical business data. This user-friendly ERP system boasts a proven track record of helping SMBs achieve growth and profitability.

Key Features

• Integrates seamlessly with other SAP applications, streamlining businesses with a unified platform
• Offers extensive analytics and reporting tools, enabling businesses to gain actionable insights into their performance
• Provides industry-specific functionality and template options
• Includes mobile access capabilities, allowing users to access data and perform tasks from anywhere

Acumatica Cloud ERP

Acumatica Cloud ERP is a web-based system designed to cater to the needs of mid-sized businesses and companies on a growth trajectory. Known for its wide range of functionalities, adaptability, and ease of integration, Acumatica allows businesses to choose which system elements they want in order to streamline operations, gain valuable data insights and future-proof their technology investments.

Key Features

• Provides powerful financial management capabilities, including multi-currency support, automated billing and real-time financial reporting
• Offers both cloud-based and on-premises deployment options
• Integrates CRM functionality seamlessly, enabling businesses to manage customer interactions, sales pipelines and marketing campaigns
• Allows users to customize workflows and processes to align with their specific business requirements

Best for Enterprise

Large organizations require agile solutions to manage their complex operations. The feature-rich systems in this section provide powerful functionalities for centralizing data across departments,  streamlining workflows and gaining enterprise-wide visibility. 

Discover how these ERP systems can support large-scale operations, complex supply chains and data-driven decision-making at the highest levels of your organization.

Oracle NetSuite ERP

Oracle NetSuite ERP is a top contender for managing complex operations within large enterprises. This cloud-based system boasts a comprehensive suite of functionalities designed to streamline mission-critical business processes, enhance control over your financial data and empower data-driven decision-making across large, global organizations.

Key Features

• Suite of integrated apps for financials, inventory management, CRM, and e-commerce
• Provides real-time insights into global financial performance, inventory levels and KPIs across all business units and geographies
• Leverages powerful reporting tools and customizable dashboards to create actionable insights
• Creates a unified platform for streamlined operations

SAP S/4HANA Cloud

Designed for the demands of large enterprises, SAP S/4HANA Cloud ERP is a powerful cloud-based system known for its in-memory computing capabilities and focus on real-time insights. This thorough ERP streamlines core business processes, empowers data-driven decision making at all levels, and helps enterprises achieve new levels of efficiency and agility.

Key Features

• Uses in-memory computing to provide immediate insights from transactions and business processes
• Leverages embedded AI and machine learning (ML) capabilities to automate tasks, predict demand fluctuations and optimize inventory management
• Serves as a digital foundation for business transformation initiatives, supporting process automation, operational efficiency and improved customer experiences
• Offers industry-specific cloud solutions tailored to address unique challenges faced by specific sectors like manufacturing, retail, and healthcare

Infor ERP

Infor is a powerful cloud-based ERP solution designed to cater to the complex needs of large, established enterprises.  Compared to more generic ERP systems, Infor prioritizes industry-specific functionalities across a broad spectrum of sectors, including manufacturing, retail and healthcare, leveraging deep domain expertise to deliver targeted solutions. 

The focus on industry-specific features empowers large enterprises to optimize operational workflows, enhance supply chain management and gain actionable insights tailored to their specific industry challenges.

Key Features

• Offers a diverse suite of cloud-based modules for specific industries with pre-configured functionalities to address unique industry requirements
• Advanced supply chain management (SCM) provides real-time visibility into inventory levels
• Embedded AI/ML capabilities can predict equipment failures, optimize production scheduling and deliver deeper data-driven insights
• ERP and CRM integration breaks down data silos within a unified platform

Best for Small Businesses

Finding the best ERP for your small businesses can make all the difference in your ability to scale. It can streamline operations, boost efficiency and give you valuable insights to make data-driven decisions. 

These solutions prioritize user-friendliness, affordability and scalability, offering the functionalities needed to centralize data, automate workflows and gain valuable insights to fuel growth without overwhelming complexity.

Intuit QuickBooks Enterprise

Known for its user-friendly interface and familiarity for existing QuickBooks users, QuickBooks Enterprise offers a powerful feature set at a cost-effective price point, making it an attractive option for SMBs seeking to manage core financials, inventory, and operations within a familiar platform.

Key Features

• Assign permissions and data access to up to 30 users, ensuring security and role-based functionality
• Enables multi-location inventory management, barcode scanning for real-time stock updates and automated purchase order generation based on pre-set reorder points
• Craft financial reports with a high level of customization
• Streamline payroll processing with an optional built-in payroll integration
• Offline functionality ensures core accounting tasks can continue even in case of internet outages

Odoo ERP

Odoo stands out as a unique ERP solution for small businesses seeking an open-source platform with extensive customization capabilities. Unlike traditional, closed-source ERP systems, Odoo offers a modular approach, allowing businesses to select and activate only the functionalities they need, avoiding unnecessary costs and tailoring the system to their specific workflows. 

This focus on customization empowers small businesses to optimize operations and gain valuable insights without an overwhelming set of features.

Key Features

• Suite of modular business apps for CRM, inventory management, accounting and project management
• Open-source platform allows you to tailor functionalities and integrate with existing systems seamlessly
• Features a large and active developer community that contributes to feature updates, troubleshooting resources, and ongoing dev
• Offers a free, self-hosted on-premise deployment or a paid, cloud-based subscription
• Pricing based on chosen functionalities and deployment options

ERPNext

ERPNext is a user-friendly and adaptable open-source ERP system designed to empower growing small businesses.  In contrast to complex enterprise solutions, ERPNext prioritizes a clean interface, modular app design, intuitive functionalities, and a focus on core business processes delivered at an affordable price point. 

Key Features

• Offers an intuitive interface with simplified navigation, minimizing training needs
• Enables management of production processes, bills of materials and work orders within the ERP system
• CRM and sales management modules can streamline your sales pipeline
• Project management tools support improved project visibility and control
• Built-in business intelligence tools such as pre-built reports and customizable dashboards provide data-driven insights

Best for Manufacturers

In the fast-paced world of manufacturing, efficiency is paramount. Finding the ERP  that is best tailored to your needs as a manufacturer will ensure you have powerful tools to optimize production processes, manage complex supply chains, and gain real-time insights across your shop floor. 

We'll explore ERP systems designed to address the specific challenges faced by manufacturers,  whether you specialize in discrete, batch, or mixed-mode production. 

Katana Manufacturing ERP

Katana Manufacturing ERP is a cloud-based solution specifically designed for the needs of modern manufacturers.  Unlike traditional on-premise MRP (Material Requirements Planning) systems, Katana prioritizes real-time data visibility, streamlined production control and integrated functionalities delivered in a user-friendly interface. 

This focus on real-time production insights empowers manufacturers to optimize resource allocation, improve on-time delivery rates, and gain a holistic view of shop floor operations.

Key Features

• Monitor production progress, track inventory levels, and identify potential bottlenecks in real time, enabling proactive adjustments for optimal efficiency
• Create, manage and version-control multi-level BOMs with ease, ensuring accurate material requirements planning and cost calculations
• Empower shop floor personnel with a mobile app for real-time access to work orders, task management and production updates
• Advanced inventory management creates granular control over inventory with features for multi-location tracking, low-stock alerts and automated purchase order generation
• Seamless integration with existing design software, e-commerce platforms and accounting systems

Oracle Cloud Manufacturing

Oracle Cloud Manufacturing positions itself as a powerful solution designed to tackle the complex production needs of large, established manufacturers. In contrast to other cloud-based manufacturing systems, Oracle prioritizes a wide range of functionalities, scalability and integrations with other Oracle Cloud applications. 

This focus on comprehensive features and enterprise-grade scalability empowers manufacturers to manage mixed-mode production environments, optimize global supply chains and leverage advanced analytics for data-driven production control.

Key Features

• Provides mixed-mode manufacturing support within a single system
• Ensures consistent quality by enforcing quality control measures, tracking defects and facilitating nonconformance management
• Enables global supply chain management through optimized global sourcing, logistics and inventory management across multiple manufacturing locations
• Leverages AI and embedded ML functionalities to predict equipment failures, optimize production scheduling and gain deeper insights from production data
• Integrates seamlessly with other Oracle Cloud applications for centralized data management

SYSPRO ERP

SYSPRO is a versatile ERP solution that caters to the diverse needs of manufacturers across various production environments. It offers functionalities for discrete, batch and mixed-mode production within a single platform. This focus on production flexibility empowers manufacturers to manage complex workflows, optimize shop floor operations, and gain real-time insights across the entire production lifecycle.

Key Features

• Provides multi-model production support within a single system by accommodating discrete, batch and mixed-mode production processes
• Can create, manage and version-control complex BOMs, ensuring accurate material requirements planning and production costing
• Enables finite scheduling and capacity planning by optimizing production scheduling based on real-time inventory levels, machine capacity and lead times
• Encourages proactive production control with real-time visibility into shop floor operations, as well as the ability to track work order progress and monitor machine performance
• Enforces quality control measures, tracks defects and manages nonconformances throughout the production process

What We Looked for in an ERP (And You Should, Too)

We evaluated each ERP system based on a number of key criteria, including:

• Range of use cases: Can the ERP system handle all of your business processes, or will you need to integrate with other systems?
• User experience: Is the system easy to learn and use for all employees, regardless of technical expertise?
• Growth potential: Can the system grow with your business?
• Customization: Can the system be customized to meet your specific needs?
• Cost: How much does the system cost to purchase and implement?

In addition to these criteria, we also considered factors such as industry fit, customer support and ease of implementation. When choosing an ERP system for your business, it's important to consider all of these factors to ensure that you select a system that will meet your needs now and in the future.

How To Choose the Best ERP System for Your Business

Selecting the right ERP system is a pivotal decision that can significantly impact your organization's efficiency and future growth. Here, we'll outline a step-by-step approach to guide you through the selection process.

Step 1: Determine the Type of ERP System You Need

Not all ERPs are created equal. There are several types of ERPs that cater to specific business needs. Some cater to industries like manufacturing or healthcare, while others target businesses of a certain size, such as those built specifically for small and medium-sized businesses (SMBs). 

Evaluating your unique requirements will help narrow down your options and ensure you choose an ERP that aligns strategically with your company’s goals. Create a wishlist of the types of features and functions your business needs.

Step 2: Explore the Features and Integrations Available

Once you have a grasp of the types of ERPs available, delve into the specific features offered by different vendors. Core functionalities may include accounting, inventory management, CRM and project management. 

It’s also important to consider integrations and compatibility with your existing software ecosystem, such as your Corporate Performance Management (CPM) tool. A unified tech stack offers significant advantages for businesses. By using a collection of tools that integrate seamlessly with each other, you can:

• Reduce development effort: Less time and resources are needed to build and maintain connections between different solutions.
• Eliminate data silos: No more losing valuable data due to the inability of systems to communicate. Information flows freely, ensuring everyone has access to the latest and most accurate data.

Vena’s deep partnership and dual product roadmap with Microsoft capitalizes on these benefits. If your business already uses Microsoft 365 extensively, Vena offers a seamless integration that leverages your existing technology stack, such as Microsoft Dynamics 365 Business Central, Excel, PowerPoint and PowerBI. This not only future-proofs your investment but also allows you to maintain a unified system built entirely on Microsoft products.

Step 3: Consider the Cost

ERP systems can vary significantly in cost depending on factors like features, deployment options (cloud-based vs. on-premise), and the number of users. 

Some ERP experts suggest that you can roughly estimate the cost of an ERP system implementation by calculating one percent of your business’s operating budget. It's important to factor in not just the initial licensing fees but also implementation costs, ongoing maintenance charges and the potential need for additional training for your staff.

Step 4: Schedule a Demo

Don't leave a decision this important to chance. Reputable ERP vendors will offer comprehensive demonstrations of their systems, allowing you to witness firsthand how the software functions and how it can address your company’s specific needs.  During this time, ask questions, validate whether it can support your core required functionalities and envision how the ERP will integrate with your existing workflows. 

Better Together: ERP and CPM

An ERP excels at running your business, but a CPM empowers you to manage it strategically. While an ERP tracks daily transactions, a CPM transforms that data into actionable insights. It's the difference between raw ingredients and a delicious meal.

Don't wait to leverage the power of CPM. Traditionally, businesses hold off on implementing a CPM platform when they’re planning an ERP change. With Vena, however, you can bridge the gap when transitioning to a new ERP system. You can implement Vena before your ERP migration to:

• Smooth the transition: It’s easy to remap data to your Vena reports when you go live with your new ERP, helping minimize disruption and ensuring a seamless data flow
• Make data-driven decisions: Continue making critical decisions based on insights while migrating your ERP

By implementing Vena before your ERP switch, you gain a head start on unlocking the true potential of your data and driving better business outcomes. Don't settle for a one-size-fits-all solution. Find the right partner and integration option for you.