"" ""

Sunday, May 6, 2018

What are the best Magento ERP system


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.
https://s.financesonline.com/uploads/2017/09/Chart-Reasons-for-Implementing-ERP-Source-Panorama-Consulting-2016-ERP-Report.jpeg
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.
https://financesonline.com/uploads/2017/09/Chart-Type-of-ERP-Software-Source-Panorama-Consulting-2016-ERP-Report-1.jpeg
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.


 See more:

0 comments:

Post a Comment