Retail businesses must remain agile in today’s competitive landscape. But disparate platforms and decentralized processes greatly hinder an organization’s flexibility and success, crippling its ability to meet customer demands. Thankfully, enterprise resource planning (ERP) solutions can empower retail businesses by streamlining core processes like inventory management, human resources, and financial management.
However, there are many different retail ERP software platforms available, and each offers a unique combination of key features and functionality. If your retail business is considering an ERP platform, it is critical that you carefully compare several options before settling on a solution. Below is a list of the top 12 retail ERP software platforms to help you find the right option for your organization.
This technology provides retail companies with a wide range of advantages. By integrating ERP software into your retail operations, you can achieve the following benefits.
The best enterprise resource planning solutions include a broad assortment of applications, including modules for:
By consolidating all of your business processes and technology into a unified platform, ERP creates a single source of truth for managing all of your operations. You can gain new insights into the customer experience and differentiate yourself from other entities in the retail industry.
A retail ERP solution allows you to consolidate data from all of your locations. You can unify customer management data, financial information, inventory, and more. By merging information from all locations, you can create a consistent, high-quality experience for your customers and maximize organizational performance.
Simplifying multi-location management also sets the stage for long-term growth. ERP platforms, especially cloud-based solutions, are exceptionally scalable. Whether you need to manage 10 locations or 100, you can do it all from one platform.
A robust ERP system provides real-time visibility into your inventory at the store level. You can also track inventory regionally or organization-wide to prevent stockouts, guide ordering decisions, and better meet customer demands for goods.
Tracking inventory in real-time has become a necessity amidst ongoing product shortages and supply chain disruptions. While an ERP platform won’t prevent these disruptions, it can provide the insights you need to navigate unexpected hurdles and preserve business continuity.
When you lack visibility into your business processes, waste abounds. Retail ERP software sheds light on wasteful processes and inefficient workflows that are hurting your bottom line and holding your business back.
Top solutions also promote cost-savings and improved efficiency via workflow automation tools. You can reduce your reliance on redundant manual data entry practices, prevent errors, and decrease the workload on your staff through the power of automation.
Remember, there is no singular “right” retail ERP software solution. The best platform for your business will vary based on factors such as the size and scope of your operations, your IT bandwidth, the needs of your customers, and your budget.
With that in mind, our list includes enterprise-grade solutions, small-business-oriented platforms, and mid-market ERP software.
Oracle NetSuite ERP is an enterprise-grade platform that boasts exceptional flexibility and scalability. It includes over a dozen different modules, each of which is laden with features and functionalities meant to optimize business efficiency. As a cloud-based solution, it can evolve with your business and grant you near-instant access to additional storage and computing resources.
However, there are a few potential downsides associated with Oracle NetSuite. First, it has a premium price tag that matches its enterprise-grade functionality. While large organizations will certainly reap a return on this investment, it can be cost-prohibitive for small to mid-market brands.
Rolling out the platform is also quite complex, meaning you need plenty of IT resources on hand to ensure a seamless rollout.
Rossum is a lightweight document management solution that can support your retail business processes. While it is not a true end-to-end ERP, Rossum can be a great complement to your existing customer relationship management platform. With Rossum, you can consolidate business documents, automate communication, and use AI tools to expedite data capture processes.
The drawback of Rossum is that you will need to pair it with several other platforms to manage your business workflows. It is not a true standalone solution, so you will incur other licensing and implementation costs. Still, it can be a good match for small to mid-sized businesses.
Method:CRM is user-friendly and intuitive. It integrates with QuickBooks to simplify accounting processes and promote collaboration between sales and finance. Even less tech-savvy team members will have no trouble familiarizing themselves with Method:CRM, as each menu seamlessly flows into the next.
The platform’s native integrations make pairing applications like PayPal, MailChimp, and QuickBooks an effortless process. It also has user-friendly mobile apps for Android and iOS. That said, it does lack some higher-end functionality, like advanced automation and AI.
Sage Intacct is a cloud-based financial management solution with some ERP capabilities. Its finance and accounting software is on par with that offered by more well-known ERPs like Oracle, Microsoft Dynamics, and SYSPRO ERP. Sage Intacct offers scalable pricing, making it accessible to businesses of all sizes.
Sage Intacct has integrations to expand its functionality. However, it has limited native tools for inventory management, so you will likely need to pair it with complementary software to oversee your retail stock.
SYSPRO ERP promotes collaboration with your vendors and distributors. This platform integrates with a wide array of popular retail business applications and allows real-time monitoring of stock, sales, and more.
SYSPRO ERP includes all the tools you would expect to find in retail ERP software, including automation capabilities, account management, and warehouse software. It is available on-premise or via the cloud. However, it can be a bit expensive, especially for smaller organizations.
If you want real-time business insights at a glance, you should check out Scoro. This platform features customizable dashboards that allow you to prioritize metrics that are timely, relevant, and meaningful. Look beyond the big picture and consider granular elements that may be influencing business performance.
Scoro also features Android and iOS apps, so you can keep an eye on your business whether you are in the office or on the go. There are a few gaps in Scoro’s functionality, but you can fill them using the platform’s native integrations with Outlook, Google, XERO, Mailchimp, and other popular applications.
Brightpearl consolidates customer data, reporting, accounting management, inventory, and more. The platform is known for its robust reporting capabilities and easy-to-digest visuals. Brightpearl gives a 360-degree view over your entire supply chain as well, so you can pinpoint bottlenecks and identify ways to reduce operating costs.
The Brightpearl platform easily integrates with several popular platforms, including eBay, BigCommerce, Walmart, Shopify, and Amazon. This makes it an appealing option for eCommerce retailers and hybrid businesses alike. Brightpearl’s pricing model is geared toward larger retailers and fast-growing companies, so small brands would likely find the price tag too high.
Odoo is an open-source ERP software with built-in CRM capabilities. You can use Odoo to manage all of your retail operations and business processes in a single platform. Since Odoo is open-source, you and your team can tailor the platform to align with the unique needs of your business.
Odoo’s biggest strength is also one of its potential shortcomings. Due to the open-source nature of Odoo, you will have to hire a third party to provide any customizations or have your team develop them. Fortunately, there is a huge community of Odoo developers, so there should be plenty of support out there.
Tipalti is not a true ERP, but it is a powerful payment automation and financial management solution that is popular in the retail sector. You can use Tipalti to overcome late payment concerns and reduce human errors. This holistic system will support financial compliance and make life a whole lot easier for your accounting team.
Tipalti is a good match if you already have an ERP but need to augment its capabilities. The solution integrates well with Microsoft Dynamics GP, Sage Intacct, NetSuite, and QuickBooks Online. However, if you want an all-in-one solution, you’ll have to find it elsewhere.
Designed for small to mid-market businesses, Striven is a unified solution that includes a CRM, HR software, inventory tracking capabilities, project management tools, and more. It provides your team with a unified interface, which promotes collaboration and accelerates the flow of data.
Striven integrates with Microsoft, Twilio, Yodlees, Google, ShipStation, and many other platforms. It has several different pricing options to accommodate small to mid-sized retailers. However, large retailers are better suited to a more dynamic platform with additional modules and automation capabilities.
Z Suite is an ERP and data collation solution that significantly reduces the demand on your internal team. It has data collection capabilities, CRM and HRM modules, point-of-sale tools, and a user-friendly design.
With Z Suite, you can achieve synergy across teams and departments by consolidating important data. It also offers integrations with several popular business applications. However, Z Suite’s inventory management capabilities are not as dynamic as those offered by enterprise-grade ERPs.
Microsoft Dynamics 365 is the latest Microsoft ERP solution. It offers a scalable pricing model and plenty of features for retailers. If you want to manage all of your business processes with one platform, Microsoft Dynamics 365 is a good fit.
Generally, Microsoft Dynamics 365 is best suited to the needs of small to mid-sized retailers. Businesses that are already running Microsoft Office and SharePoint will find Dynamics 365 particularly easy to implement.
While there are a few gaps in its functionality, third-party vendors like Cavallo can provide you with complementary software that elevates Dynamics 365’s capabilities and helps you get the most out of your ERP investment.
As you begin comparing retail ERP software platforms and weighing your options, make sure to consider factors such as:
Additionally, you should seek a solution that is supported by a community of third-party developers so you can maximize your ROI. From efficient order entry to full inventory visibility to powerful workflows, Cavallo’s solutions supercharge every aspect of order management. Get in touch to learn how you can get more out of your retail ERP software and access enterprise-grade functionality at a price point that makes sense for your business.