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13 Best Cloud ERP Software Solutions of 2021 Reviews


Discover the best cloud ERP software and enterprise resource planing solutions to manage information across your organization.

Best Cloud ERP Software Solutions

Every entrepreneur’s goal is to run their business as efficiently as possible in a cost-effective manner. This is where Enterprise Resource Planning (ERP) software comes in. Choosing the right ERP platform can help you streamline and improve your business processes by as much as 85%!

A high demand for cloud ERP solutions has led to an array of options becoming available in the cloud ERP space. 

This makes it quite challenging to know which platform is the right solution for your business. Almost all ERP platforms offer some form of financials and CRM, but is that enough for your business? 

How do you choose a cloud ERP solution which is a good fit for your business? And what standard features should you look out for in a cloud ERP platform? 

We’ll take a look at the top 13 options when it comes to choosing an ERP platform plus key features every ERP platform should have. Let’s get started.

NetSuite

Best Overall Cloud ERP Software Solution

Try NetSuite

Odoo

Best for Small Businesses

Try Odoo

Acumatica

Best for Built-In CRM Functionality

Try Acumatica

Sage Intacct

Best for Financial Management

Try Sage Intacct

Oracle ERP Cloud

Best for Medium and Large Businesses

Try Oracle

Microsoft Dynamics

Best for Large Team and Project Collaboration

Try Microsoft Dynamics

Infor

Best for Multi-Industry Solutions

Try Infor

BizAutomation

Best for Small Businesses

Try BizAutomation

SAP

Best for Financial Management Features

Try SAP

Deltek

Best for Large Businesses

Try Deltek

Macola

Best for Team Collaboration and Workflows

Try Macola

Syspro

Best for Small to Medium Businesses

Try Syspro

Dolibarr

Best for Solopreneurs and Small Businesses

Try Dolibarr

Best Cloud ERP Software Solutions

There are lots of options for Cloud ERP software, each one designed to fit a specific kind of business or industry. Thus it’s important to keep your business goals, size and needs in mind if you’re looking to try out any cloud ERP software.

1. NetSuite

Best All-Round Cloud ERP solution for both Small and Medium-Sized Businesses. 

NetSuite is the Best All Round Cloud ERP solution for both Small and Medium Sized Businesses

NetSuite by Oracle is one of the leading names when it comes to cloud ERP software. The company services some 20,000+ clients in diverse industries, making it your go-to solution for cloud ERP software regardless of your industry. 

The platform provides an integrated system that covers inventory management, human resource management, ERP, finances, supply chain management, CRM and much more. NetSuite makes it easy for any rapidly growing business to automate and scale its operations.

You’ll get live insights into your day-to-day operations and which parts need streamlining. It also offers a large variety of financial and accounts management solutions like general ledgers, cash management, accounts payable and receivable, project accounting and others. 

These help you run daily financial transactions more quickly and efficiently plus also get ahead when it comes to bookkeeping. The platform comes with an intuitive and well-populated dashboard that shows transactions in real-time even down to the smallest transactions. 

NetSuite enables fast-growing businesses across all industries to work more effectively by automating core processes and providing real-time insights into operational and financial performance.

Whether your business is a start-up, family-owned or large corporation, NetSuite is easily customizable and supports scalability so it always fits your needs. Plus you can get solutions based on business size, roles and even preferred integrations like QuickBooks, SAP and more.

Pricing

NetSuite doesn’t have fixed pricing packages, but offers free product tours and custom plans based on your needs. 

Benefits

  • Options for all kinds of businesses including small businesses.
  • Role-based solutions available.
  • Supports multiple software integrations like QuickBooks, Microsoft, SAP, Sage Intacct and more.
  • Free product demo available.

2. Odoo

Best Budget-Friendly, Open Source ERP Cloud Software for Small Businesses

Odoo is the Best Budget Friendly, Open Source ERP Cloud Software for Small Businesses

If you’re on a budget and are looking for a cloud ERP software that lets you choose which apps exactly you want to use and by how many users, then Odoo is the ideal choice for you. 

Odoo is one of the few cloud ERP software that is open-source and comes with a plethora of apps to choose from. All its apps are native to the platform and cover businesses in just about every industry. 

Need apps to track time? Manage subscriptions or your website? Check product quality or track its life cycle? Odoo has an app for you. Each app comes with a monthly fee which is charged per the number of users who are going to use them.

Odoo Apps

You can choose apps based purely on your business needs, choosing just one app or 10+ apps depending on which aspect of your business you want to automate and even your industry. Odoo has apps for dropshipping, recruitment, real estate, social marketing and many more. 

Odoo is open-source and has a thriving developer community, meaning you’ll always get support in terms of software updates and bug fixes. Odoo also has a responsive customer support team on standby to help you with any issues after you subscribe. 

Pricing

Odoo offers a free 15-day trial of the platform after which you can choose monthly or annual billing. Prices are not fixed as each app comes with an individual monthly fee starting from $5 per month in addition to a price per user. 

However you may get some sets of apps for free use, for example sales and invoicing apps don’t cost any extra fees to use as long as you don’t choose any additional apps or users. 

Odoo Pricing Plan

New users get a discount on the price of one user. 

Benefits

  • Budget-friendly pricing
  • Easy customizability
  • Open-source platform means better developer support
  • Provides a large variety of native apps that cover all business functions
  • Has apps for a large range of industries.

3. Acumatica

Best Open-Source Platform with Built-In CRM Functionality.

Acumatica is the Best Open Source Platform with Built In CRM Functionality

Acumatica is another leading name in the open-source cloud ERP software. It was built with small to medium-sized businesses in mind and aims to provide flexible, easily scalable ERP software that transforms your business management process. 

Its open-source framework means you can quickly customize the software to suit your needs or integrate your choice of business applications. You can create your own custom workflows to cover all aspects of your business. 

Where Acumatica really shines is its dashboard feature. The platform boasts of a powerful, highly customizable dashboard that lets you pick what you want your display to look like. So for example, you can customize it to focus on a particular project’s labour costs and progress. 

Acumatica is also one of the few platforms that comes with a built-in CRM that doesn’t need to be programmed separately from the platform. Thus you’ll not have to pay extra to use their CRM functionality unlike some of its competitors. 

Other business functions you can manage with Acumatica include finances, project accounting, managing inventory and CRM. If you want specialized business solutions, Acumatica offers construction, manufacturing, commerce, distribution and field service modules. 

Pricing 

Acumatica offers scheduled product demos rather than fixed pricing packages. Thus you'll be able to speak to a sales rep so you can create the perfect custom plan for your business. 

Benefits

  • Built-in CRM
  • Highly customizable dashboard
  • Industry specific editions available
  • Open-source code means improved developer support.

4. Sage Intacct

Best for Financial Management and Third-Party App Integrations.

Sage Intacct is the Best for Financial Management and Third Party App Integrations

Sage Intacct is better known as a financial management and accounting tool but its open API support means you can integrate most business apps into the platform. Established in 1999, Sage Intacct has built its reputation by offering cutting edge financial management solutions. 

The software is designed to suit the accounting needs of small to medium-sized businesses. It helps you create comprehensive financial reports and automate key financial processes in your business. 

The firm also has an option to provide professional services to help you set up and get started with the software. Sage Intacct gives you a wide variety of financial and accounting features like a general ledger, accounts payable, accounts receivable, cash and order management for multiple teams. 

Built-in dashboards ensure you’re able to monitor your finances in real-time while working on projects, manage revenue and track hourly billing. You can even calculate global consolidations for different teams and business offices. 

Sage’s open API supports integration with any POS, CRM or payroll system for example Salesforce or Zendesk. 

Pricing

Sage Intacct offers custom pricing quotes based on what you want to use the platform for. Thus if you’d like to focus on budgeting and planning, or on financial management, you’ll get a custom quote for each after speaking to their sales rep. 

Benefits

  • Powerful dashboard 
  • Robust financial and accounting module

5. Oracle ERP Cloud

Best for Procurement-Driven Medium to Large Businesses. 

Oracle ERP Cloud is the Best for Procurement Driven Medium to Large Businesses

Oracle is known for its business management and software solutions. It’s ERP cloud software is an extension of that feature. The software offers a comprehensive business management solution that can be tailored to fit both small and large businesses alike. 

Oracle’s ERP cloud provides a combination of applications that help to streamline and automate different parts of your business. Be it finances, procurement, project management and planning, compliance, inventory management, reporting and risk assessment, there’s an integration for everything. 

The platform integrates each aspect of business management in a cloud by cloud module. Hence there is a Financials cloud module, project management cloud module, procurement cloud module and also a risk management cloud module. 

The financials module provides real-time data analytics about your business spending and cash inflows. It creates multiple reports and gives you insights that would help with managing your business. 

The procurement module is meant to streamline contract and billing processes. It comes with a self-service portal for prompt and flexible billing plus a supplier portal for easy collaboration with vendors. 

You can quickly choose the best suppliers and agree on contract terms remotely. 

Pricing 

Oracle ERP cloud’s pricing depends on which module or modules you need to deploy for your business. Each module comes with features which you can mix and match to suit your business. You can request a demo by contacting their sales team. 

Benefits

  • Multiple modules based on business functions
  • Built-in self service portal and supplier portal in procurement module
  • Distinct financials and project financials management modules
  • Extensive reports built on an analytical module. 

Try Oracle ERP cloud today. 

6. Microsoft Dynamics

Best Cloud ERP Solution for Large Teams and Project Collaboration. 

Microsoft Dynamics is the Best Cloud ERP Solution for Large Teams and Project Collaboration

Microsoft owns a pretty impressive suite of business tools and applications used in almost every possible niche. Its ERP platform integrates its native business tools to help streamline and automate core business functions without having too many moving parts.

You can have Microsoft Dynamics 365 deployed as a package or on a case-by-case basis designed to suit your unique business needs while factoring in scalability. 

The best part is, you can still use your favorite Microsoft apps even if you’re offline and any data added will automatically be synced once you’re back online. App integrations include OutLook, Word, SharePoint, OneNote and most of Microsoft’s other apps. 

The ERP platform allows you to track your business leads, automate the sales process including field service and even boost operations while on mobile thanks to its cloud sync. The best part is, Microsoft Dynamics has apps for iOS and Android too so your business remains completely mobile. 

If you have multiple remote teams that need to collaborate, the platform supports interactions via Yammer. You can add colleagues to projects and meetings so everyone is on board with project progress. 

Pricing

Microsoft Dynamics offers pricing based on specific business areas that you want the software for. These include sales, service, marketing, customer data insights, commerce, HR, finance, project management and supply chain. Pricing is charged per user per month and is module-dependent. 

Microsoft Dynamics Pricing Plan

Benefits

  • Business specific modules
  • Mobile app support for both iOS and Android. 
  • Ability to work offline 
  • Cloud sync
  • Team collaboration tools

Get started with Microsoft Dynamics today.

7. Infor

Best Multi-Industry Solution-Based ERP Platform

Infor is the Best Multi Industry Solution Based ERP Platform

While most ERP software provide a business operation specific module, Infor takes it a step further. It provides solutions for a large variety of industries, ranging from manufacturing industries to consumer, public sector, healthcare, defense and even hospitality based industries. 

Aside from its industry specific solutions, you’ll still have access to business operation specific ERP modules including customer service, supply chain management, financials, HR,inventory, sourcing and many more. You’ll be able to automate your entire business operations cycle. 

Infor helps you leverage real-time data insights and analytics so you can quickly make decisions to move your business forward without any guesswork. In terms of finances, you’ll be able to have a better overview of your day-to-day transactions and how to improve your cash flow. 

If your business is product-based, Infor provides features that give you complete oversight of the entire supply chain; from sourcing products, managing suppliers, tracking inventory and shipments, down to warranty where applicable.

You can further manage customer orders and profiles, order history, schedule promotions and track the effects of your pricing. 

Infor ERP also provides built-in collaboration tools to help synchronize, automate and efficiently schedule business operations and meetings all from a single interface. Plus there’s multi-site database support with single sign-on verification

Pricing

Infor offers custom package pricing based on what your business needs. Simply fill out the contact us form on their website and a rep from their sales team will contact you.

Benefits

  • Supports hospitality based businesses
  • Modules for tracking manufacturing process
  • Customer management and order processing modules
  • Multi-site database support with single sign-on authentication

8. BizAutomation

Best User and Budget-Friendly Option for Small Businesses. 

BizAutomation is the Best User and Budget Friendly Option for Small Businesses

Most cloud ERP platforms may seem like they’re a bit much for small businesses who don’t have as many operations aspects as medium-sized businesses or more established businesses. This is where BizAutomation outshines the competition.

BizAutomation offers a cloud ERP solution that is as hands-off as it gets, making the entire onboarding process easy and needing little to no technical support. The US-based platform also has pricing that makes it a more budget-friendly option for startups and small businesses. 

Whether or not you have a large team, you’ll be able to make the most use of BizAutomation as a cloud ERP software option. The platform offers solutions for procurement that allow you to sync and streamline orders, mass purchases and avoid overstocking on inventory. 

In terms of financials, you’ll have access to tools like automatic invoicing, discount calculations, tax management, online payments, general ledger and balance sheets. You even have an option for recurring billing which is perfect for subscription-based businesses. 

When it comes to sales and shipments, BizAutomation gives you complete control of your sales and order fulfillment processes. From batch, zone or group-based order selection to picking your preferred item quantities per box. You’ll also have the mass invoicing for credit cards feature as well.

It offers an integrated project management feature as well. This is useful when you have to delegate project responsibilities, define client requirements and create time, line and expense items based on orders. 

Pricing

BizAutomation has two price point offers, $79.95 per user per month for a full access user and $24.95 per user per month for a partial user with limited access. It also offers a business portal billed at $99.95 per 10 login accounts and 5 users minimum. 

BizAutomation Pricing Plan

For ecommerce based businesses, you have the option to pay for add-on ecommerce features like Biz Commerce which includes multi-store, multi-currency and multi-warehouse support as well as shopping cart features. 

Benefits

  • Mass order management
  • Single user pricing available
  • Ecommerce add-on features like multi-currency profit/loss and shopping cart management.
  • Easy onboarding and user-friendliness
  • Detailed financials including recurring billing support.

9. SAP

Best Enterprise Level Cloud ERP Solution.

SAP is the Best Enterprise Level Cloud ERP Solution

SAP has built a longstanding reputation as the go-to choice for business management software for all parts of your business. Its ERP and financial management features are no exception.

While it has come under some criticism in the past for its technology, its recent technological updates have made it more competitive with its counterparts. The platform currently employs embedded analytics, artificial intelligence , some aspects of robotic process automation as well as machine learning in its automation processes.

Apart from new technology, it has also improved its user interface for a better user experience based on its Fiori technology. This allows you to have easy-to-use apps that work on any device and for developers, the Fiori system allows easy creation of custom apps based on the platform.

Thanks to its AI powdered technology and developer friendly system, SAP works especially well for large businesses and organizations that have many moving parts to their operations. Small to medium-sized businesses may also find some of their applications to work for specific business needs.

SAP has features that cover financials, including but not limited to accounts receivable, accounts payable, treasury management, subscriptions tracking and overview. You’ll have real-time insights into the state of your business finances which can drive business decisions. 

For organizations or businesses that have specific industry compliance requirements, SAP has a module for governance, risk assessment and compliance. The module is designed to help businesses perform self assessments to ensure that they’re always maintaining any required standards. 

Pricing

SAP offers pricing on a case-by-case basis. You can request a demo on their website after which you’ll speak to a sales rep to create a custom package and quote for your business. 

You can also choose if you prefer SaaS, cloud or on-premise deployment. 

Benefits 

  • AI powered technology and smart machine learning to streamline business processes
  • Multiple business operation modules
  • Supports multiple industry compliance requirements 
  • Support for small to medium-sized businesses 
  • Cyber security feature for handling sensitive data.

Get started with a SAP demo today!

10. Deltek

Ideal for Professionals Working Remotely and Large Businesses.

Deltek is an Ideal for Professionals Working Remotely and Large Businesses

Deltek may not have the popularity or brand reputation of some of its competitors, but it offers above standard ERP software for optimal operations. The software has both cloud and on-premise deployment options for its ERP software. 

While Deltek cloud ERP works across multiple industries, it’s best suited for engineering, professional service-based businesses like consulting, architecture, marketing and research as well as project management. 

Some impressive modules Deltek offers include business development on a per product cycle, time and expense management to track billable hours plus project based accounting. These features will help you track project expenses and provide live data on project progress. 

In terms of finance, you can track revenue from multiple store locations and even from multi-currency sites

The platform’s user interface allows you to create role-specific dashboards, alongside custom alerts and reports. You’ll have an instant overview of cash inflows and outflows, plus tax management and analytics to help you plug any loopholes that may be affecting your business. 

In terms of contract management, Deltek Vision gives you a complete oversight of your client contracting process, from first contact through to contract finalization. You’ll be able to tell how many touches it takes to close a contract or oversee project completion as well as final delivery. 

Pricing

Deltek pricing is available upon consultation with their sales team. A rep will first find out which specific solutions you are interested in for your business, before giving you a custom quote. 

Benefits

  • Billable hour tracking
  • Role-specific dashboards
  • Multiple Industry solutions
  • Ecommerce business support 

Try Deltek ERP today!

11. Macola

Best Option for Document Sharing and Automating Workflows for Small Teams.

Macola is the Best Option for Document Sharing and Automating Workflows for Small Teams

Most ERPs allow you some degree of team collaboration and syncing workflow, but Macola combines both business processes pretty seamlessly. It offers document management, workflow sync and CRM features that work from anywhere. 

Macola’s workflow tools allows everyone involved in the workflow process to work together seamlessly, providing real-time project updates and supporting real-time document sharing. It automatically directs tasks to whoever is next in line, reducing time wasted in back and forth messaging. 

Its integrated CRM system makes storing customer data easy and readily accessible from a centralized hub. This makes maintaining good customer relationships and communication easy to track and streamlined. You can follow up on customer history, leads and campaign success rates. 

Pricing 

Macola offers a free demo based on a consultation. To learn more, you can reach out to a sales rep.

Benefits

  • Supports document management
  • Integrates CRM and communication processes
  • Short learning curve makes it beginner-friendly

12. Syspro

Best for Manufacturing and Distribution Based Small to Medium Businesses.

Syspro is the Best for Manufacturing and Distribution Based Small to Medium Businesses

With over 40 years of experience and advanced technology, Syspro has built a robust ERP platform that has been designed to suit small to mid-sized businesses. Its most outstanding features make it ideal for distribution and manufacturing-based businesses. 

Syspro’s main modules are built around manufacturing and distribution with options like traceability, supply chain management, cost control, production control, order management, manufacturing and operations control among others. 

Apart from manufacturing and distribution modules, you can pay for additional modules like warehousing and inventory. Simply sign up and unsubscribe to whichever modules you need or don’t need based on your business. 

Syspro excels on the information and detailed reporting front, as it provides over 300 preconfigured options when it comes to personalized dashboards. You can choose graphical list viewers, PDF viewers and multiple chart options. 

There’s even an option for executive dashboards that include flowcharts, widgets, score cards for KPIs and more. With Syspro, you’ll never be at a loss as to how to find information, only which display option to choose and how to set it up. 

Finally, you still have the option to include a CRM with your ERP subscription at a separate fee, especially if you deal with multiple clients at a go. 

Pricing

You can purchase Syspro directly from their website or from reseller/ partner channels. Syspro itself recommends buying from accredited Syspro partners as they usually handle the installation, configuration and after sales support. 

This may however come at an extra cost, which may make the software not budget-friendly. Conversely, you could purchase directly from Syspro, but would need to have extensive knowledge on how the software works to be able to set it up. 

Pricing starts from $199 per user per month, increasing based on the number of modules you select. You can request a free demo on their website to get started. 

Benefits

  • Multiple manufacturing and distribution specific modules
  • Lots of preconfigured dashboards to suit user needs
  • Multiple reports and real-time analytics
  • Pay-per-module pricing support

13. Dolibarr

Best Free Open Source ERP for Solopreneurs and Small Businesses.

Dolibarr is the Best Free Open Source ERP for Solopreneurs and Small Businesses

If you’re looking for a free open-source ERP and CRM to get started with right away, Dolibarr is the ideal choice. Dolibarr gives you all the standard modules you’d be looking for in an ERP platform for free including CRM, marketing, productivity, financial, HR and content management.

You also have the flexibility of choosing which modules to install and which ones to ignore as well as access to the source code. For developers, this means you could directly install the source code onto your server and code it to fit your business needs. 

Standard modules available on Dolibarr include a CRM module to help with managing all customer contact data in a centralized database. This means more efficient sales pipelines, quotes and order processing

All data can be exported in spreadsheets or any apps of your choice. Other modules include product and stock management modules for product price control, catalog and warehouse management. 

There is also a financial and billing module to track expenses and cash flow that comes with a general ledger. The human resource module gives you a scheduling option and comes with a self-service portal for employees to file for leave and enter the timesheets and expenses. 

Supervisors can also approve and reimburse claims and time-off requests. Finally there is also a productivity module which helps keep projects and tasks on time. 

Because Dolibarr is open-source, it comes with a REST API that makes it possible to connect and integrate external apps or purchase apps from the DoliStore marketplace.

Pricing

While the downloadable version of Dolibarr is available for free, the cloud option is available at a fee after a free 15-day trial from a number of accredited partners. Each partner has its own registration and implementation fee based on how you’d like it set up. 

Benefits

  • Free to use downloadable version
  • Free 15-day trial of cloud version
  • Multiple modules including HR, marketing and productivity
  • API access allows connection of external apps
  • Self-service portal for employees to file requests and timesheets. 

Get started with Dolibarr for free today!

What is Cloud ERP Software?

Before we can understand what Cloud ERP software is, let’s first understand closely what ERP software itself is. ERP software stands for Enterprise Resource Planning software. It is an integrated suite of applications that help businesses to better plan and organize all their business processes.

ERP software helps different departments in a business run more efficiently and has a centralized storage and data collection process to help track how a business is performing. Previously, these processes may have required additional hires to be managed. 

Using ERP software solves this problem. Cloud ERP software is simply ERP software that runs in the cloud and doesn’t necessarily need to be installed physically on a server in order to be used. This is different from local ERP software which just installed physically on the machine.

Benefits of Cloud ERP Systems

ERP software by itself can prove to be immensely helpful to boosting productivity and giving you a bird’s eye view of how your business is performing overall. 

Whether it’s your sales department, marketing, production or even inventory, ERP software will help you have a bird’s eye view of your entire business operations. Cloud ERP software takes these benefits up a notch simply because it can be used remotely across large teams. 

Benefits of Cloud ERP Systems
Source: Workiswellc

Let’s take a closer look at some of the benefits of cloud ERP systems.

1. Improved Business Processes

The number one reason that makes cloud ERP systems worth investing in is the ability to have an instant overview of how your business is running. 

Cloud ERP systems provide applications that help you run finances, Customer relationship (CRM), procurement, project management and so much more, based on the kind of business you run. A cloud-based ERP system lets you manage all these aspects of your business at a go.

You’ll get overall improved task management, get multiple departments to work together seamlessly and track project progress all from one unified hub. Plus you can even eliminate repetitive tasks by assigning tasks in advance and creating efficient workflows.

2. Cost Savings

Every business would benefit from being able to cut down on operating costs. Sometimes these costs come up in say unused inventory, a cumbersome procurement process, lost purchasing or sales data and much more. 

An ERP system will first help you better track your inventory so you won’t end up ordering more inventory than needed and can plan any future purchases. You’ll also be able to spot and eliminate any loopholes in your procurement process which all adds to cutting down on costs.

This also may even help you choose better vendors and suppliers, as well as maintain a good relationship with repeat buyers or long-term clients too.

3. Better Revenue Collection

Once your business costs improve, it also matters how much money you’re able to generate to keep your business running. Cloud ERP systems have integrations that allow you to create invoices faster and hence shorten payment timeframes

You’ll also be able to better track overall cash inflows and outflows so you can improve your bottom line. Knowing your numbers also means you can forecast expenditures and also plan how much revenue you need to generate to take your business to the next level.

4. Comprehensive Business Reporting

If you intend to have long-term positive business growth, you need to know your numbers and understand what story they are telling. It’s easy to get overwhelmed if you have to constantly sift through departmental business reports without clearly seeing how they map out together. 

Cloud ERP systems allow you to get cohesive, customized reports on each aspect of running your business and even provide further analytics based on each individual report. 

Because the system is integrated with all parts of your business, you’re sure of getting accurate, real-time data reports that are most likely bugged with human error or estimations. 

It also makes it easy to do monthly, quarterly and annual business reviews with your team which can be helpful when scaling your business.

5. Better Data Security and Industry Compliance

Business data includes everything from in-house communication to financial records. Securing such sensitive business data on its own may come at an additional cost including expertise. You may have to pay for monthly updates and tech support. 

Using a cloud ERP system solves this problem by providing an easy and well-integrated solution to help secure business data. A good cloud ERP system will provide multiple secure servers to store your business data. 

Again most cloud ERP systems also come with malware protection to help keep malicious software and bugs out of the system.

6. Improved Customer Service

One of the core tenets of building a great business is knowing your customers. Details like customer location, order history, and other details are important in helping you not only build a great relationship with your clients, but also increase the lifetime value of a customer.

Cloud ERP systems allow you to have a centralized hub where you can properly document and store details of customer orders, invoices and others for future reference. 

It also improves response times and order fulfillment accuracy, because there will be a trackable record of communication.

7. Flexibility and Mobility in Business Operations

For businesses with teams in multiple locations, a good cloud ERP system improves team collaboration and can help with timely completion of tasks. 

In teams where some staff may be deployed to do door-to-door sales or direct-to-client engagements, a cloud ERP system can be accessible via mobile or PC as long as there is an internet connection. 

This means all your teams stay connected no matter where they are or how they are working. You could even customize your ERP system to fit your business needs without needing to purchase any extra hardware.

Standard Features of Cloud ERP Solutions

So far, we’ve covered how helpful cloud ERP software can be in different industries and businesses of different sizes. However every platform has its specific features which can make it confusing if you’re trying to choose one over the other. 

Standard Features of Cloud ERP Solutions
 Source: Pinterest

So what features should you be looking out for in any cloud ERP solution? Ultimately, your choice of cloud ERP should be dictated by your business’ industry and specific needs. However, here are some must-have features to look out for in any cloud ERP solution. 

1. Financial Management

Managing your business finances is a big part of running any business. Knowing your numbers in terms of incoming cash flow and expenditure makes all the difference between being able to keep your business afloat and your business failing. 

Your cloud ERP software should give you a general overview of where your business stands financially at any point in time based on real-time data. Some software may take it a step further and provide analytics reports to help you spot problems and make projections. 

But at the very minimum, having detailed financial and accounting modules is a standard feature that any cloud ERP platform should have. This feature should provide information on accounts receivable, accounts payable, general ledger, profit/loss reports, inventory costs and more.

2. Customer Relationship Management (CRM)

Every business is driven by customers or clients. Building a strong relationship with your customers is the key to having a high customer life-time value and repeat business that will keep your business profitable. 

CRM Software Modules
 Source: Bloggerneo

Depending on the kind of business you’re in, you may or may not have a large number of clientele (for example large B2B businesses). Nonetheless, it’s helpful if you have a detailed record of past customer transactions, contracts, orders and inquiries in general. 

A good cloud ERP platform should come with a built-in CRM feature that helps you assess and manage your client’s satisfaction. It should also support contact and campaign management with sales forecasts and reports based on previous data. 

Some advanced ERP platforms take it a step further and include marketing automations and integration with third party apps, sales data and reporting.

3. Project Management and Accounting

Project management can be vital to the growth of your business. Whether it’s a new ad campaign or product launch, being able to track the progress of your project, deliverables and spending will help make sure your project is a success. 

Good cloud ERP software comes with specific modules for assessing various aspects of your project both on the tasks and financials front. You’ll be able to manage proposals, assignments, materials and timelines better. 

Apart from that, you’ll also be able to better stay within your budget as well as predict based on both past and present factors if a particular project is worth investing in or not. 

4. Procurement and Inventory Management

Procurement is especially crucial in business that source inventory or supplies from multiple vendors. The better streamlined and informed your procurement process is, the more efficient and profitable your business can be. 

Your choice of cloud ERP platform should help you better manage your suppliers and their contracts. It should give you insights into which vendor is more efficient and cost-effective as well as which inventory best serves your clients or business needs

In terms of inventory management, your ERP software should help prevent overstocking or running out of inventory by helping you track your stock. Some advanced platforms may even provide detailed reports on which products/items are performing better with your customers.

Which Cloud ERP Software Solution Should I Choose? 

Using cloud ERP software may be one of the best investments you can make in your business regardless of the size of your business. You’ll be able to have better control and oversight of your entire business operations for improved efficiency as well better revenue management. 

For small businesses, Odoo or BizAutomation are great choices since both are budget-friendly and with a shorter learning curve. Manufacturing and professional service-based businesses would benefit from Infor. For large teams, Microsoft Dynamics offers great collaboration tools. 

Finally, if you’re looking for a comprehensive and customizable solution to fit your unique business, then NetSuite is the perfect cloud ERP solution for you.

Written by
Martin Luenendonk
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