Magento ERP is an acronym for
Magento EntMagento ERPrise Resource Planning which involves systems and
applications used by businesses and organizations to manage day-to-day
activities and operations. These activities include accounting, sales and
marketing, procurement, manufacturing, project management, and others. Magento
ERP connects and ties together the varied business processes in an organization
in order for it to work smoothly, run efficiently, and be productive, all with
the end result of growing the business and making it profitable.
Regardless of size, type and
niche, a business has several critical areas that need to be managed well. Magento
ERP applies integrated solutions to streamline, automate and link the different
departments and divisions of an organization such as HR, IT, finance, sales,
and customer service. A Magento ERP system serves as the hub whose network of
solutions pump vital nutrients to all areas and functions of the organization
to keep them in tune and in good working condition.
Magento ERP is generally
classified as an entMagento ERPrise application designed to meet the more
complex and heavy duty functions of big businesses. Often, large corporations
have their own IT departments or dedicated teams that utilize Magento ERP
systems to analyze big data and address the needs of multiple departments.
However, small business Magento ERP applications have come about to cater to
the lightweight business management requirements of startups and growing companies.
This type of Magento ERP solution is usually customized to fit smaller business
operations, and match specific business industry. In a survey by Panorama
Consulting, 46% of respondents cite “best functional fit” as top reason for
selecting particular Magento ERP software.
What
are the top 15 Magento ERP software systems for your business?
1.
Magento ERP
2.
Brightpearl
3.
Intacct
4.
NetSuite MAGENTO ERP
5.
ECount MAGENTO ERP
6.
Odoo
7.
PeopleSoft
8.
FinancialForce MAGENTO ERP
9.
Sage 100 MAGENTO ERP
10. SAP
Business One
11. Infor VISUAL
12. Microsoft
Dynamics AX
13. Deltek
Vision
14. MAGENTO
ERPNex
15. Epicor MAGENTO
ERP
In this article we consolidate
all the Magento ERP reviews we have on our site and present to you the top 15 Magento
ERP software systems and their core features and highlights. We’ll also go over
the benefits that can be derived from implementing a Magento ERP system as well
as facts, figures and trends in the Magento ERP landscape that you need to
know. Again, this is part of our mission to bring you the requisite information
so that when the time comes for you to choose a Magento ERP solution, you’d be
well aware of the many choices available in the market, and can come up with a
smart decision.
Benefits
of Magento ERP Software
The top 15 Magento ERP software systems included in this article
provide more or less the same benefits. They just differ in the number of
applications or toolsets offered. Since Magento ERP software covers the entire
spectrum of activities and binds together all processes across the
organization, there are a plethora of benefits that can be gained from its
implementation. It’s an understatement to say there are so many advantages that
a Magento ERP system can offer. Here are just some of them.
·
Improve data quality and
accessibility. A unified database is the predominant Magento ERP feature that
connects the various levels and departments of an organization. With a single
source for data that is automatically collected, consolidated, organized and
analyzed (largely without human input), you get accurate and reliable
information to guide decisions. Magento ERP systems allow you to control and
set user permissions so that only the right people can access the right data
anytime they need to. With most Magento ERP software cloud hosted and featuring
multi-device compatibility, your people can access data remotely while on the
go.
·
Improve reporting and planning. These
are a direct result of having a single source of information. You can quickly
generate any kind of reports – financial, sales, operational, inventory,
procurement, administrative, etc. Likewise, the analytical capabilities of Magento
ERP greatly support corporate planning by providing you detailed insights and
useful metrics on business performance and operational status.
·
Improve collaboration. Another
result of readily accessible data and company-spanning information is better
collaboration. A Magento ERP platform simplifies the collaboration process
among teams and employees by giving them on-demand access to data across units
in the organization.
·
Improve visibility. The
unified and centralized functional structure of Magento ERP applications
provides transparency and visibility into your business. An example is
monitoring the status of your inventory levels even on a daily basis, letting
you know current and incoming inventories, so you can precisely manage your
working capital.
·
Improve supply chain management. An MAGENTO
ERP platform can boost your supply chain, making it more responsive through
better demand forecasting, enhanced inventory management, efficient
procurement, among others. A well managed supply chain opens opportunities for
manufacturing innovations and helps reduce costs.
·
Improve customer satisfaction. Far
from what most people think, MAGENTO ERP is not super software but a collection
of applications to manage numerous functional areas such as CRM, HR, financial
accounting, e-commerce and others. All these are placed under the Magento ERP
umbrella to ultimately provide your customers the best experience and utmost
satisfaction when dealing with your business, products and services.
·
Reduce time and effort. Magento
ERP software automates tasks and processes thereby greatly reducing time,
effort and resources spent on daily, repetitive manual activities. This frees
up employee time to focus on other revenue enhancing tasks. Furthermore, Magento
ERP promotes the adoption of industry best practices on company-wide level to
further bolster productivity.
·
Reduce costs. An
organization with smoothly running units that work optimally together redounds
to lower costs and improve efficiency. Magento ERP software is a unified
platform of applications and tools that can dramatically lower IT related
expenses such as administration, support, infrastructure needs, application
licensing, and training requirements since users need only to learn one system
rather than numerous separate applications. Acquiring a Magento ERP suite
requires considerable budgetary outlay, but you’ll find in the long run that
your overall cost savings will outweigh your investment.
·
Facilitate regulatory
compliance. Magento ERPs facilitate processes for regulatory compliance by
combining secure and validated data with built-in reports. Magento ERP software
aids in producing information required by federal, state and local regulatory
bodies.
·
Facilitate data unification. The
lifeblood of modern businesses is data, and Magento ERP software is designed to
handle, process, analyze, manage and unify data across functional units and
multiple systems in an organization. An important aspect to data handling is
having a central repository of information which a Magento ERP facilitates,
allowing you to control and determine who can see, edit and share data to
ensure its integrity, accuracy and consistency.
·
Facilitate standardized and
simplified business. Most Magento ERP systems are built around proven business
processes and best industry practices which help you deliver effective and
consistent results. Since Magento ERP software automates most business
activities, it aids in eliminating errors, facilitates planning and reporting,
and bolsters synergy of processes among departments.
Magento
ERP Trends
Technology and social media
have been impacting the growth, development and adoption of Magento ERP
software for the last couple of years, and will likely continue in the near
term. We go over some of these trends:
1.
Cloud MAGENTO ERP.
Cloud hosted MAGENTO ERP platforms have introduced cheaper, faster and more
powerful solutions to the MAGENTO ERP suite, making it accessible not only to
entMagento ERPrise users but also to small growing companies. The initial
reluctance of MAGENTO ERP users to leverage cloud technology for their data and
computing needs has slowly but steadily been overcome by the many advantages of
the cloud, including reduced implementation and maintenance cost.
2.
Mobile MAGENTO ERP.
With more customers now making purchases via mobile devices, this has pushed
the need of sales teams and customer support staff to have real-time access to
customer information wherever they may be. Businesses will look to more mobile MAGENTO
ERP solutions for instant reports, data, and insights as well as to undertake
core business processes while on the go.
3.
Social MAGENTO ERP.
The rise of social media as a vital channel for customer engagement has added
an important functionality to modern MAGENTO ERP software. Social media
packages are now being added to MAGENTO ERP systems to monitor, track and
process social interaction data. Integrating social media with MAGENTO ERP has
further expanded the capabilities of already comprehensive MAGENTO ERP
platforms.
4.
Modular MAGENTO ERP.
Businesses vary, and not every MAGENTO ERP user would want an MAGENTO ERP suite
with hundreds of applications, some of which may not actually be utilized.
Modular MAGENTO ERP has been an attractive come on for non-entMagento ERPrise
users as it allows them to select and acquire only certain modules or feature
applications to match the requirements of their business. Also, it lessens
acquisition cost compared to getting a full suite.
Credits: Panorama
Consulting 2016 MAGENTO ERP Report
MAGENTO
ERP by the Numbers
The following facts and figures
are based on the comprehensive 2016 research study of MAGENTO
ERP systems and entMagento ERPrise software conducted by
Panorama Consulting Solutions. Here are some of the salient findings in their
report.
·
81% of organizations are either in the process of implementing MAGENTO
ERP software or have completed implementation. 14% of organizations are in the
process of selecting software. 5% are in the process of upgrading software.
·
Majority of organizations do not have internal expertise to
achieve MAGENTO ERP success, and need specialists from outside to help them
realize maximum benefits and potential ROI.
·
35% reported implementation costs of 1-3% of their organization’s
annual revenue, while 20% reported implementation costs of 3-5% of their annual
revenue.
·
On average, MAGENTO ERP project accounts for 6.5% of the annual
revenue of organizations which is an increase from the 5.9% figure in 2015.
·
In the area of MAGENTO ERP implementation outcome, 57% reported
success, 36% didn’t know, and 7% reported failure.
·
MAGENTO ERP implementation results were often clouded by confusion
and neutrality that indicate organizations did not put enough time in selecting
software, justifying business case, measuring benefits realization, or auditing
post-implementation.
·
Majority or 56% of organizations selected on-premise software
among their deployment options, while 27% chose cloud, and 17% opted for SaaS.
·
There has been a significant jump in the use of cloud MAGENTO ERP
from 11% in 2015 to 27% in 2016 which was largely brought about by more vendors
offering cloud platforms.
Credits: Panorama
Consulting 2016 MAGENTO ERP Report
Top 15 MAGENTO ERP Software Systems of 2017
1. Embedded Magento ERP
Magento ERP occupies the top spot on our list of top 15 MAGENTO ERP
software systems. It is a multi-channel retail management system that handles
the full spectrum of related business process – orders, inventory, customer
data, accounting and reporting – all in one unified platform. Multi-channel
retailers are able to accelerate their growth and maximize profits with
Brightpearl capabilities to manage various retail business tasks and activities
in a single, reliable system. It has tools that provide real-time reports on
inventory, cash flow, profitability by SKU and channel, customer purchase
behavior and more. Its analytics can provide vital information on core
operations while its integration with leading ecommerce platforms allow users
easy access to multiple new channels to grow their businesses. With powerful
built-in accounting and reporting, the solution delivers insights up to
customer, SKU, and channel levels. Also, it has flexible pricing plans to match
the budget of businesses of all sizes.
2. Brightpearl
It is a multi-channel retail management system that handles
the full spectrum of related business process – orders, inventory, customer
data, accounting and reporting – all in one unified platform. Multi-channel
retailers are able to accelerate their growth and maximize profits with
Brightpearl capabilities to manage various retail business tasks and activities
in a single, reliable system. It has tools that provide real-time reports on
inventory, cash flow, profitability by SKU and channel, customer purchase
behavior and more. Its analytics can provide vital information on core
operations while its integration with leading ecommerce platforms allow users
easy access to multiple new channels to grow their businesses. With powerful
built-in accounting and reporting, the solution delivers insights up to
customer, SKU, and channel levels. Also, it has flexible pricing plans to match
the budget of businesses of all sizes.
What is unique about
Brightpearl?
·
Comprehensive omni-channel
platform. Harnesses its capabilities to handle inventory, reporting,
accounting, customers, suppliers and fulfillment across omni-channel
businesses, allowing you to make data-driven decisions and execute effective
strategies to grow your business.
·
Built for retail.
It specializes in omnichannel retail, and directs features and functionalities
toward helping retailers sell more, and become more efficient.
·
Affordable system.
It charges approximately half of what comparable systems’ subscriptions and
implementation would require.
·
Centralized inventory
management. All your assets are held in Brightpearl, and are being
changed and updated in real rime.
·
Automated accounting.
Bookkeeping entries for orders, invoices and payments are automatically
accounted for by the system to eliminate manual bookkeeping operations.
·
Single information hub.
With a centralized source of information, you can easily generate accurate,
real-time reports, and make more informed, data-driven decisions.
2. Intacct
Intacct is cloud-based financial management software created for
small to medium-size businesses looking for entMagento ERPrise level solutions
for their day-to-day operations. Its core financials automate vital processes
to lessen your reliance on spreadsheets, and give you greater visibility into
your real-time business performance. You can tailor the system to your business
by configuring workflows, screens, and preferences, all without complicated
coding. Due to its reliability and extensive accounting features, Intacct is
recognized by AICPA as their top provider of financial-related applications for
CPAs. The advanced financial platform allows you to add modules for
multi-entity management, project accounting, time and expense management,
contract revenue management, subscription billing, sales and use tax, check
delivery service, and inventory management. It’s an all-around financial
solution designed to increase efficiency, boost team productivity, and move
your business forward.
What is unique about Intacct?
·
Solution for finance
professionals. Intacct is recognized by the American Institute of CPAs. This
reputation and standing makes it a solid platform for accounting and finance
professionals.
·
Scalable system.
Aside from its key finance features, you can add on other modules to handle a
variety of advanced accounting and management functions to suit your business
requirements.
·
Wide range of core accounting
capabilities. A good MAGENTO ERP system needs first and foremost a robust
accounting capability. Intacct’s core functionality is anchored on its powerful
accounting features that can streamline processes for transactions, general
ledger, balance sheets, financial reports, revenues, costs, margins, sales,
tax, inventory, regulatory compliance and more.
·
Built-in and customizable
reports. Intacct comes with built-in report templates so you can easily
generate reports and presentations, analyze performance, and track sales. The
software contains numerous basic graphs, dashboards, and charts, which are
relevant to many basic financial reports.
·
Safe and fast payment
processing. The platform is designed to facilitate credit cards and bills
payment, and works closely with e-commerce websites, especially when it comes
to online purchases and services by streamlining the processes and providing a
secure platform.
·
Clean and simple interface.
The default dashboard is similar to that of other accounting software, making
it easy to use. Likewise, the dashboard can be customized with shortcut
functions and can display only commonly used applications.
3. NetSuite MAGENTO
ERP
Netsuite MAGENTO ERP is a unified business management suite with applications to
handle MAGENTO ERP, CRM, financials, and ecommerce. It is currently used by
over 40,000 small, mid-sized and large organizations spanning a broad range of
industry and businesses. The scalable cloud MAGENTO ERP solution automates and
streamlines front- and back-office processes including financial management,
revenue management, fixed assets, order management, billing, and inventory
management. It provides the entire organization from top management decision
makers to teams and staff a customizable view of key performance indicators,
operations status, and reports.
What is unique about NetSuite MAGENTO
ERP?
·
It’s an Oracle product.
When it’s from the second largest software maker in the world that has been in
the business of computing for the past 40 years, you can be assured of its
quality and proven customer support. Likewise, a huge customer base attests to
the products performance and usability.
·
Complete visibility of your
supply chain. You get a complete set of inventory management, manufacturing,
and purchasing features for a more efficient supply chain that delivers an
end-to-end, procure-to-pay process. These are on top of having a real-time view
at key supplier, inventory and procurement indicators.
·
Fast track quote-to-quote
process. The platform’s order and billing management module integrates
your sales, finance, and fulfillment operations to eliminate manual bottlenecks
and speed up order-to-cash process by creating a seamless flow from sales quote
to approved order, successful order to fulfillment, and on-time invoicing to
payment.
·
Streamlined fulfillment flow.
Customer, order, invoice, and shipping information are centralized to help
reduce fulfillment errors and avoid costs of reconciling shipping information.
It integrates with top shipping carriers to help you manage your shipping
needs, such as updated shipping rates and order processing costs, all within
the platform.
·
Optimized recurring revenue
streams. The platform integrates front- and back-office workflow for a
subscription-based revenue model, providing you a complete, up-to-date view of
customer information and interactions in order retain customers better and
ensure continuous growth.
·
Accurate revenue recognition.
NetSuite’s revenue recognition management allows you to calculate and create
accurate financial statements for both product and service sales transactions
occurring either on a single point in time or across various milestones.
4. ECount MAGENTO ERP
ECount MAGENTO ERP is a complete cloud-based MAGENTO ERP system that enables
users to manage their accounting, purchasing, sales, production, and human
resources needs all from a single platform. In turn, it has been touted as a
platform that can help businesses save costs on the implementation and maintenance
of MAGENTO ERP systems. ECount MAGENTO ERP allows for unlimited users at no
additional cost. You can create user IDs for your entire team and have everyone
use the same software without login limitations. Since 1999, more than 22,000
organizations around the world have been using ECount MAGENTO ERP’s management
tools to increase their efficiency and profitability. It has been cited for
being an affordable and flexible business management system that small and
medium-sized businesses can rely on for their operations.
What is unique about ECount MAGENTO
ERP?
·
Unlimited users.
While other MAGENTO ERP platforms limit the number of users depending on price
and package, ECount MAGENTO ERP allows for any number of users at no extra
cost.
·
Budget-friendly MAGENTO ERP.
A full MAGENTO ERP software package will set you back thousands of dollars in annual
subscription cost. ECount MAGENTO ERP was made for small and medium sized
businesses and hence was kept affordable without sacrificing its powerful
features and capabilities. Latest pricing peg the MAGENTO ERP subscription cost
at $55 per month or $600 per year.
·
Extensive features list.
The platform provides an extensive line up of features to manage processes for
accounting, manufacturing, purchasing, inventory, sales, and other business
functions. The platform is compatible with any web-connected device, fully configurable.
And easy to set up.
·
Accounting platform.
Through ECount MAGENTO ERP’s accounting module, users can manage accounts
receivable, accounts payable, cost accounting, cash flow projects, and many
other accounting and finance processes. It integrates with other programs used
in other departments and provides real-time information.
·
Manufacturing visibility.
Users get a clear picture of the manufacturing process to ensure that any
production is implemented within the projected costs and schedule, inventory
levels are adequate, and materials to be used are readily available.
·
Sales management.
ECount MAGENTO ERP’s sales module allows businesses to manage their sales
activities with a greater degree of accuracy and efficiency, and with lesser
discrepancies. This module helps users get more clarity in their sales
processes and to improve on them as needed.
5. Odoo
Odoo is not just your standard management software as it covers
essential sales and project management in a single platform, and enriches them
with a variety of MRP, POS, and e-commerce functions to deliver a universal
solution for businesses manage of all types. The system goes a step further by
integrating your entire sales channels and combining them with powerful
inventory management functionality to drive your business forward. Odoo is
cloud-based platform which comes with a free basic plan for 1 app and for up to
50 users. Its full featured package covers all the apps you may need to handle
a variety of business functions and processes. Odoo has an open source model
which allows developers and business experts to build hundreds of apps to
expand the platform’s usability and scale it to your business operations.
What is unique about Odoo?
·
Universal solution.
Odoo covers all sorts of business operations, from project management, CRM, and
HR to inventory control and omnichannel sales. It replaces the multiple
applications you’re using to manage your sales process while delivering
streamlined, easy-to-manage interfaces.
·
Highly modular. There
are over 1000 modules to start with, and the user is free to add more while
using it being an open-source platform. As integrated as it is, functionality
or benefits are compromised regardless of the app you’re using to cover your
business processes.
·
Lower TCO.
The total cost of ownership is reduced with Odoo since you have a modern,
integrated, and regularly updated tool which can easily replace the rest of
your apps from day one. You can realize improved and timely delivery, lower
inventory and administrative costs, accurate reporting, and reduction of cycle
times.
·
Free plan and no-cost lifetime
package. It’s got a basic free plan and a set up to meet the requirements
of startups and small businesses. Moreover, the system’s flexibility allows you
to tailor it even to your most specific needs, and to keep pace with the
alterations in your business scenario.
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