5 Top-Performing Cloud-Based ERPs for the Modern Business in 2021

5 Top-Performing Cloud-Based ERPs for the Modern Business in 2021

As businesses evolve and grow, so do the systems that support them. Enterprise Resource Planning (ERP) software has been a hallmark of business management for several years. Its integration has allowed businesses to streamline and automate their daily tasks, freeing up resources for other ventures. With the advent of cloud technology, ERPs have become even more powerful, flexible, and accessible. In this blog post, we will explore the top-performing Cloud-Based ERPs of 2021 and their features, benefits, and drawbacks.

1. NetSuite ERP

NetSuite is a top-performing cloud-based ERP that is designed for small to medium-sized businesses. NetSuite provides a broad range of features, including CRM, accounting, inventory management, order management, and more. NetSuite’s cloud software is customizable, scalable, and accessible on a range of devices, including smartphones and tablets.

Benefits:

• NetSuite offers tools that automate essential business workflows and integrate seamlessly with other systems.
• NetSuite provides a 360-degree view of your business, giving you access to real-time information on inventory levels and financial performance.
• NetSuite offers flexible pricing plans that can be customized to meet your business’s unique needs.

Drawbacks:

• NetSuite’s complex interface may be difficult for some users to navigate.
• NetSuite can be expensive, especially if you require advanced customization options.

2. SAP Business ByDesign

SAP Business ByDesign is a cloud-based ERP designed for mid-size businesses. SAP Business ByDesign is a comprehensive system that includes business analytics, financial management, human resources, project management, supply chain management, and more. SAP Business ByDesign’s cloud software is highly scalable and can be altered to meet your business’s specific requirements.

Benefits:

• SAP Business ByDesign is a highly customizable system, providing flexibility for your workflows and support for complex business processes.
• SAP Business ByDesign streamlines your business processes, minimizing the risk of errors and delays.
• SAP Business ByDesign integrates seamlessly with other SAP products, which can be helpful if your organization already uses SAP software.

Drawbacks:

• SAP Business ByDesign can be difficult to implement due to its complexity.
• SAP Business ByDesign is not as cost-effective as some other cloud-based ERPs, particularly for small businesses.

3. Microsoft Dynamics 365

Microsoft Dynamics 365 is a cloud-based ERP that provides businesses with a range of capabilities, including finance and operations, supply chain management, sales, and marketing automation. Microsoft Dynamics 365’s cloud software emphasizes user-friendly design, ease of use, and integration with other Microsoft products.

Benefits:

• Microsoft Dynamics 365’s user-friendly interface is highly intuitive, making it easy for users to navigate.
• Microsoft Dynamics 365 integrates seamlessly with other Microsoft products, including Outlook and Office, offering a cohesive business experience.
• Microsoft Dynamics 365 provides extensive data analytics capabilities, allowing you to gain insights into your business operations.

Drawbacks:

• Microsoft Dynamics 365’s pricing can be expensive, and licenses are often tied to additional Microsoft products.
• Microsoft Dynamics 365’s customization options are limited compared to other cloud-based ERPs.

4. Oracle Cloud ERP

Oracle Cloud ERP is a cloud-based ERP that provides businesses with a comprehensive range of capabilities, including financial management, project management, procurement, and supply chain management. Oracle Cloud ERP’s cloud software emphasizes flexibility, scalability, and integration with other Oracle products.

Benefits:

• Oracle Cloud ERP offers extensive customization options, which can be tailored to meet your business’s specific needs.
• Oracle Cloud ERP provides advanced analytics capabilities, allowing you to analyze business performance and make informed decisions.
• Oracle Cloud ERP integrates well with other Oracle products, including Oracle E-Business Suite and JD Edwards EnterpriseOne.

Drawbacks:

• Oracle Cloud ERP can be expensive, particularly if you need extensive customization options.
• The complexity of Oracle Cloud ERP can be challenging, especially for smaller businesses with limited resources.

5. Acumatica Cloud ERP

Acumatica Cloud ERP is a cloud-based ERP that provides businesses with a complete range of capabilities, including financial management, inventory management, project accounting and management, and CRM. Acumatica Cloud ERP’s cloud software is highly flexible, allowing you to customize workflows to meet your business’s specific needs.

Benefits:

• Acumatica Cloud ERP provides advanced customization options, offering a fully tailored solution for your business.
• Acumatica Cloud ERP’s cloud software is highly scalable, making it suitable for businesses of all sizes.
• Acumatica Cloud ERP integrates with other Acumatica products, and third-party integrations, offering a versatile solution for your organization.

Drawbacks:

• Acumatica Cloud ERP can be relatively expensive, particularly for small businesses.
• The complexity of the platform can make implementation time-consuming and challenging.

FAQs Related to Cloud-Based ERPs

Q1: What is a cloud-based ERP?

A: A cloud-based ERP is a type of enterprise resource planning software stored on remote servers and accessed via the internet. Cloud ERPs provide businesses with flexibility, scalability, and cost savings compared to traditional on-premises ERPs.

Q2: Who needs a cloud-based ERP?

A: Any business that requires a comprehensive system to manage its daily operations would benefit from a cloud-based ERP. Cloud ERPs are especially useful for small to medium-sized businesses looking to automate and streamline their workflows.

Q3: What are some advantages of using a cloud-based ERP?

A: Some advantages of using a cloud-based ERP include flexibility, scalability, lower upfront costs, automatic updates, and accessibility from anywhere with an internet connection.

Q4: Is it possible to customize a cloud-based ERP?

A: Yes, cloud-based ERPs are highly customizable, allowing businesses to tailor the software to their specific needs.

Q5: How much does a cloud-based ERP cost?

A: The cost of a cloud-based ERP varies widely depending on the software’s features and any customization you require. Prices can range from a few hundred dollars per month to tens of thousands of dollars per year.

Q6: What are some examples of cloud-based ERPs?

A: Examples of cloud-based ERPs include NetSuite, SAP Business ByDesign, Microsoft Dynamics 365, Oracle Cloud ERP, and Acumatica Cloud ERP.

Q7: What are the drawbacks of using a cloud-based ERP?

A: Some drawbacks of using a cloud-based ERP include potential privacy concerns, reliance on an internet connection, and the need for adequate cybersecurity measures.

Conclusion

In conclusion, cloud-based ERPs are powerful tools for any business looking to streamline its workflows and increase efficiency. The top-performing cloud-based ERPs of 2021, including NetSuite, SAP Business ByDesign, Microsoft Dynamics 365, Oracle Cloud ERP, and Acumatica Cloud ERP offer unique features, benefits, and drawbacks. By understanding the differences and similarities between these cloud ERPs, businesses can make informed decisions about which system is best suited to their needs. If you’re interested in implementing cloud-based ERP software for your company, contact us today for a consultation.