How to select the best ERP software?
If your company suffers from operational inefficiencies, data and systems misalignment, time delays, and miscommunication between departments, implementing an ERP system would be a right remedy. However, choosing the right solution and solving each business's requirements depends on choosing the right ERP developer as a dedicated and visionary developer is always the most important foundation when planning an ERP implementation for a business. Today's ERP software is extremely diverse and offers a lot of customization capabilities. Which ERP system will fit your business processes, ambitions and size of your organization? In this article, we compare Odoo, SAP, Oracle, Epicor: Top most used ERP software today.
Odoo vs SAP vs Oracle vs Epicor: The basic information about these software
1. Odoo
Odoo is a versatile open-source ERP software with applications for sales, accounting, project management, inventory, and HR. Its flexibility allows businesses to customize features as needed, following a modular implementation approach. With a user-friendly interface, Odoo is easy for employees to navigate. Its affordability, being open source, eliminates license fees, and it offers seamless integrations with other applications for enhanced connectivity.
2. Oracle
Oracle ERP is a cloud-based, fully integrated, and comprehensive business management platform. It’s designed to assist with streamlined processes, automated tasks, efficient and collaborative work on ledgers, payables and assets, receivables, collections, expenses, and more.
With Oracle ERP, management can oversee accounting, financials, planning and procurement, project management, reporting, supply chain operations, and more, all from a single platform.
3. SAP
SAP, holding over 25% of the global ERP market, offers three main products: SAP S/4 HANA for large enterprises, SAP Business One for small and mid-sized businesses, and SAP Business ByDesign, a cloud solution for mid-size enterprises. All three systems provide comprehensive functionalities across various business processes, including finance, HR, sales, operations, supply chain, and CRM. SAP S/4 HANA allows both on-premise and cloud deployments, while SAP Business ByDesign is specifically designed for the cloud. Notably, SAP's strength lies in its use of the SAP HANA database, enabling fast and robust business analytics.
4. Epicor
Epicor, a prominent manufacturing competitor, introduced "Kinetic" in June 2021, an updated version of its ERP product hosted on Microsoft Azure. Designed for manufacturing and distribution, Epicor Kinetic offers features spanning quoting, sales, planning, scheduling, MES, inventory control, HR, and accounting. Released annually, updates may include security enhancements, bug fixes, and added features. Notably, transitioning to a new version of Epicor Kinetic demands a deliberate effort from businesses.
Make comparisons to choose the right fit ERP for your business
However, we have evaluated the features of the products and various other factors to help you determine which ERP solution is the best for your organization.
SotaERP help you possess in depth with the useful information about ERP software, so you can decide which one is suite for your company on the go to succeed in digital transformation.
Find below a comparison table for Epicor, SAP Business One, SAP Business ByDesign and SAP S4/HANA, Odoo community, Odoo Enterprise, Oracle.
1. Basic features
Odoo
>>> Customer management (CRM) features. This is considered the most notable feature in this software system. Notable features of CRM in Odoo include:
- Lead management (information of potential customers and notable customer files)
- Opportunity management (opportunities to convert leads to customers)
- Control and manage all customer information on one system
- Report and edit details
>>> Sales management features (Sales)
- Customer Relationship Management (CRM)
- Monitor and control product and service prices along with promotional information
- Manage quotes, contracts and orders
>>> Purchase management feature (Purchase)
In addition, the software also provides purchasing management features, including tracking and controlling product and service purchase prices and purchase history, managing the purchasing auction process and managing invoices. and payment.
>>>Warehouse management features (Inventory)
The warehouse control feature in Odoo ERP software includes managing the entire process of exporting and importing warehouses from production or orders and monitoring and controlling the updating of product and service information. These features help businesses manage and control their business activities effectively and easily.
>>> Production management features (Manufacturing)
Production process management features in Odoo ERP software include:
- Check input materials
- Monitor production efficiency
- Support balancing product inventory
>>> Financial management features (Accounting)
Financial management and accounting features in Odoo ERP software include:
- Retrieve detailed reports on business income and expenditure
- Support monitoring the financial situation of the business
>>> Human Resources management features (Human Resources)
Human resource management features in Odoo ERP software include:
- Monitor the recruitment process
- Manage salary and bonus calculations
- Control monthly spending of each employee
Oracle
Similar to other ERP software, Oracle ERP provides indispensable basic features of an enterprise resource management software:
>>> Customer database management: Oracle ERP enables complete management of customer databases by gathering information from sales applications, marketing, and other data sources. This data is aggregated accurately, minimizing errors and providing better decision support for multiple departments.
>>> Financial management: Supports cash management, financial analysis and other functions.
>>> Human resource management: calculate personnel salaries and manage remuneration policies.
>>> Project management: Oracle ERP enables portfolio and lifecycle management of projects.
>>> Supply chain planning and control: provides supply forecasting and inventory management capabilities.
SAP
>>> Financial management includes: general accounting, budget management, financial analysis, financial reporting, cash fund management and more.
>>> Supply chain management: SAP has supply chain management modules such as purchasing management, material management, production management and sales management. These features help optimize supply chain processes, from ordering, inventory management, production planning to shipping and distribution.
>>> Customer relationship management (CRM) to help businesses interact and manage information with customers. This includes marketing management, sales, customer service, and customer data analysis.
>>> Human resource management: employee profile management, salary management, performance management and training. This helps businesses manage employee information, salary processes and develop human resources effectively.
>>> Project management: plan, track and coordinate project activities. This feature provides project management tools such as work assignment, progress tracking, document management, and project analytics.
>>> Data analytics and reporting: SAP provides data analytics and reporting tools to help businesses better understand business operations and make data-driven decisions. These features include financial reporting, sales analytics, customer analytics, and other advanced data analysis tools.
Epicor
>>> Customer relationship management (CRM):
- Provides an overview of the customer relationship.
- Integrate with Salesforce to ensure uniformity in contact management
>>> Financial management:
- Helps businesses manage financial activities and have a clear view of performance, costs and risks.
- Providing real-time financial information on any device
>>> Enterprise content management (ECM):
- Use DocStar ECM for content management.
- Eliminate manual document management processes.
>>> Supply chain management:
Enables management of the entire supply chain from forecasting to execution.
>>> Smart business:
Make smart strategic decisions with data analytics.
>>> Human Resource Management (HCM):
- Multi-feature human resource management system, from recruitment to retirement.
- Deploy in the cloud or on premise.
2. Implementation cost
Odoo uses a per-user and feature-based pricing model, with the free version allowing access to a single feature and unlimited users. The paid version offers unlimited features, support, storage, and maintenance, starting at $7.25/user/month, and custom plans cost $10.90/user/month.
For SAP, the cost depends on the type of ERP software chosen. Solutions like SAP Business One and SAP Business ByDesign cost anywhere from $10,000/year to $250,000/year. Implementation can cost around $50,000 to $500,000. For large solutions like SAP ECC6 or SAP S/4 HANA, implementation and operations costs can be much larger, ranging from thousands to millions of dollars.
Oracle offers 3 service packages with prices ranging from $80 to $175/person/month. The Advanced Financial Controls package costs $80, Advanced Access Controls is $150, and Financial Reporting Compliance is $175.
Epicor ERP has prices divided into three tiers, calculated based on the number of users/month. Prices range from $20 - $50, $50 - $200 and over $200 per level. For small businesses, the cost is between $10 - $50/person/month, while large-scale businesses can expect to pay between $200 and $1000/person/month, depending on features and organization size.
3. Usability
Conclusion
We hope that the above sharing and comparison of Odoo vs SAP vs Oracle vs Epicor can help businesses have an overview of these ERP systems. To know more about the latest information about ERP business management software, or want to register for consulting to try out ERP software, you can leave your information or contact SotaSolutions immediately!