Top 10 ERP Systems In 2023 By Sam Gupta / March 7, 2022 / 17 minutes of reading
How to find the top ERP system? It’s the question many of us are likely to have while starting the digital transformation journey. There are always several variables that drive whether an ERP system would be a fit for you. Or not. Generally, these variables can be divided into two categories. 1) Generic variables such as the quality of documentation and financial backing of the publisher. And 2) critical success factors for your business and industry. The critical success factors are perhaps the most important. And sometimes, companies pay attention to only these factors. But the trickiest part with the ERP industry is that even the less-proven (and smaller solutions with low-quality development teams) tend to meet all the critical success factors. And that might mislead you to draw dramatic conclusions, such as GlobalShop has richer functionality than SAP S/4 HANA for your industry. Or is ECi M1 a superior solution to Microsoft Dynamics 365 Finance and Operations? While that could be true in certain cases, the operational capacity of a solution matters. In general, most ERP solutions target specific target markets and audiences (at least the good ones). So while critical success factors will make or break your implementation, the generic variables will help you stay away from solutions that might be shut down right after you sign the contract (Unfortunately, that’s not rare). And this list is to help you shortlist based on generic variables. That you should pick for further due diligence, to vet the critical success factors for your industry (and business model). The goal of this list is not to compare whether the number one solution is better than the number two. Or vice versa. So, ready to review the list of top ERP systems for 2023 now?
Overall market share/# of customers: How large is the market share of this ERP product? ERP vendors‘ overall marketshare is irrelevant for this list. The more successful products with smaller ERP vendors might rank better than unsuccessful products from larger ERP vendors.
Ownership/funding: Who owns the ERP vendor? Is it a private equity company, a family or a group of families, or a wealthy corporate investor?
Quality of development (legacy vs. legacy dressed as modern vs. modern UX/cloud-native): How modern is the tech stack? Not clunky! How aggressively is the ERP vendor pushing cloud-native functionality for this product? No fake cloud! Is the roadmap officially announced? Or uncertain?
Community/Ecosystem: How vibrant is the community? Social media groups? In-person user groups? Forums?
Depth of native functionality (for specific industries): Last-mile functionality for specific industries natively built into the product?
Quality of publicly available product documentation: How well-documented is the product? Is the documentation available publicly? How updated is the demo content available on YouTube?
Product share and documented commitment (of the publisher through financial statements): Is the product share reported separately in financial statements, if the ERP vendor is public?
Ability to natively support diversified business models: How diverse is the product to support multiple business models in the same product?
Acquisition strategy aligned with the product: Any recent acquisitions to fill a specific hole with this product? Any official announcements to integrate recently acquired capabilities?
User Reviews: How specific are the reviews about this product’s capabilities? How recent and frequent are the reviews?