As the business grows, many companies realize they need an ERP system to manage their business processes. A small business can do without this tool, but it’s a must for medium-sized and large companies. In this article, we’ll deal with ERP systems and their benefits and help you choose the best one for your Magento store.
What is an ERP System?
ERP (Enterprise Resource Planning) systems help manage the company’s resources, data, and business processes more effectively. This software is broader than, for example, CRM (Customer Relationship Management), which contains a customer base and data on customer interaction. Simply put, ERP is an information system that allows you to store and process critical data, which is vital for the operation of a company.
Best ERP Systems for Magento 2
Odoo is a complex solution that consists of various apps you can use for different purposes. It covers accounting and sales, email marketing, human resources, and others. While Odoo provides separate apps for each category, all of them can be easily synchronized, allowing you to fully automate your business processes and reap the savings and benefits. And it allows you to choose only those apps that are relevant for your online shop and its specific needs.
All the information, such as orders, prices, stock, customer data, and even shipment settings can be automatically integrated right into the system.
- Boost My Shop
Boost My Shop Embedded ERP was designed for Magento users, with every function built directly into the control panel. You can access all features right from your Magento 2 dashboard; no external software installation is necessary.
Depending on the customer’s needs, BoostMyShop provides three ERP packages:
- ERP + Dropshipping
- ERP + Barcode
- ERP + POS
All packages provide customers with basic ERP features such as advanced inventory management, supplier management, order preparation, and more.
- SYSPRO ERP
SYSPRO ERP is an industry-specific solution built for manufacturers and distributors. It includes accounting, inventory management, order management, planning and scheduling, supply chain management, warehouse management, production management, customer relationship management (CRM), business intelligence, self-service portal, and manufacturing operations management applications.
SYSPRO ERP provides three types of distribution; you can use it in the cloud, on-premise, or through a hybrid model.
- Khaos Control
Khaos Control is another all-in-one ERP solution that combines three products: Khaos Control (KC), a Windows-based ERP application; Khaos Control Cloud (KCC), a browser-based ERP application; and Khaos Control Hybrid, which brings together KC, KCC & eCommerce.
Together, these three products provide your eCommerce business financial tools, business management features, and real-time stock control. It can be easily connected to Magento, eBay, Amazon, and other popular eCommerce platforms.
- True ERP
True ERP has been around for more than two decades now and has gained many loyal customers. And its success is not surprising since True ERP provides customers with numerous modules and features to cover all business needs, starting from accounting and ending with supply chain management.
The platform’s main advantages are the capacity for cross-reference information that makes it easy to work with and navigate through the data.
True ERP covers the following key features for Magento 2 store:
- Control and management of transactions
- Inventory Management
- Supply Chain Management
- Warehouse Management
- POS functionality
- Manufacturing Scheduling
Benefits of ERP Integration for Magento Stores
1.Enhanced Business Reporting:
- Better reporting tools with real-time information
- A single source of truth – one integrated database for all business processes
2.Better customer service:
- Better access to customer information
- Faster response times
- Improved on-time delivery
- Improved order accuracy
3.Improved Inventory Costs:
- Only carry as much inventory as needed, avoid these common issues
- Too much inventory, and higher overhead costs
- Too little inventory, and longer customer fulfillment times
4.Boosted Cash Flow:
- Better invoicing and better collections tools to bring cash in faster
- Faster cash means more cash on-hand for the business
- Improved inventory planning
- Better procurement management
- Better customer service
- Improved vendor relationship management
6.Better Data & Cloud Security:
- Dedicated security resources
- Avoid installing malicious software
- Data distributed across multiple servers
7. Business Process Improvements:
- Automate manual or routine tasks
- Implement smarter workflows
- Gain efficiency
8.Supply Chain Management:
- Effective demand forecasting and lean inventory
- Reduce production bottlenecks
- Transparency through the business
Almost all ERP systems are solid and versatile. They can implement a huge number of processes. As the company grows and develops, you can connect modules, which implement new solutions and connect new departments. And all this requires a minimum investment of finance and time.