[Comparative] ERP accounting: which ERP software should you choose?
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Did you know that you can use an accounting ERP instead of a conventional accounting package or software ?
There are countless ERP packages on the market, and you can sometimes get lost among the variety of modules and functionalities they offer: sales management, inventory management, production management, customer relations (CRM), invoicing, business intelligence, dashboards, etc.
But what exactly is an ERP , and which is the best ERP software for your business?
We've reviewed the features and strengths of 5 of the best ERPs on the market, to help you choose the one that best suits your needs.
ERP software: definition
What is an ERP?
An ERP is a software package for managing and steering a company's operational departments, by centralizing all information on a common database that is updated in real time.
It also offers specific modules for :
- inventory management
- human resources
- accounting
- sales management
- purchasing, etc.
ERP stands for enterprise resource planning.
ERP provides an accurate overview of the state of a company's activities, and thus aids decision-making to improve processes and productivity.
Why use an accounting ERP?
What's the difference between accounting software and an accounting ERP?
An accounting ERP includes the same functionalities as classic accounting software:
- VAT management: calculation, management of different regimes, automatic remote filing,
- general accounting: chart of accounts, balance sheet, income statement,
- cost accounting: budget plan, forecast and actual variances, trial balance,
- payment management,
- cash flow: working capital, working capital requirements,
- accounts receivable and payable: settlements, work-in-progress, collections, reminders,
- tax package management: approved tax documents filled in semi-automatically.
The difference lies in the fact that the ERP accounting module is interconnected with other modules, with which it can interact in real time: sales management, dashboards, CRM, project management, etc.
ERP lets you go further by :
- automating certain tasks to save time,
- ensuring traceability of information, and thus attesting to its reliability,
- updating data in real time, thus avoiding data entry errors,
- providing a 360° view of the business, for better decision-making.
Comparison of the best ERP software
A handful of software publishers lead the ERP market, and have been doing so for many years. While the best-known are Sage, SAP and Oracle, we also present some alternatives, with an overview of features and strengths.
Business One from SAP: a complete tool for small and medium-sized businesses
For SAP, sharing and accessing information are key to business performance and success. More than simply managing business operations, Business One is designed to help VSEs and SMEs make intelligent use of their data and automate processes to boost competitiveness and identify new opportunities.
Business One - SAP
Some Business One features :
- automation of accounting entries,
- financial planning and analysis (unification of transactions, creation of estimates and forecasts, flow optimization),
- cash management (planning, automation and streamlining of cash flows, centralization of bank accounts),
- access to 500 extensions and a development kit to adapt to all business sectors and their specific needs,
- efficient management of sales processes and use of customer data to offer them an experience that meets their expectations.
Business One strengths :
- pricing to suit small business budgets,
- regulatory compliance, greater control over cybersecurity and data confidentiality,
- wide-ranging support thanks to rich documentation and advanced training, and a pool of experts who can help you with your projects.
SAP Business One
EBP Horizon: adapting to different professions
EBP is a French software publisher that has been an expert in accounting for over 35 years. With the possibility of combining it with sales management and payroll modules, EBP Horizon is an accounting software package that adapts to different business sectors and company sizes, to meet the specific needs of each structure.
EBP Horizon
EBP Horizon features include
- dashboards with indicators that track performance in real time (cash flow, outstanding receivables and payables, sales, etc.),
- automatically generated double-entry accounting,
- remote VAT declaration from within the software,
- information can be transmitted to your accountant in real time,
- automatic tracking of investment depreciation.
EBP Horizon highlights :
- pre-filled, simplified accounting entry forms, accessible without accounting skills,
- options tailored to your size or activity (SMEs, VSEs, associations, self-employed professionals, works councils, public bodies, etc.),
- a human and efficient support service for all technical and functional questions.
Horus Solutions: ERP dedicated to accounting firms
Horus Solutions is a platform specialized in business management solutions that offers a dedicated module for accounting firms. This ultra-complete, tailor-made module includes a full range of features and tools designed to help accounting firms manage their operations efficiently, simplify their processes and deliver quality service to their clients.
Features include
- centralized customer database management,
- customizable dashboards and detailed reports,
- the creation of collaborative workspaces for each customer, where you can exchange documents and communicate easily,
- a digital safe to store your customers' documents securely,
- a time management tool to track the time you spend on each assignment and invoice your customers accordingly,
- real-time schedule management with notifications of delays to manage your assignment schedules,
- accessible on computer, tablet or smartphone.
Highlights:
- numerous certifications:GDPR, ISO 25051, NF 552,
- scanning of your customers' documents and automatic import thanks to optical character recognition (OCR),
- a solution tailored to your needs.
Horus l'intégrale
Odoo: an all-in-one, customized tool
Odoo is a complete, integrated ERP with 45 modules that can be adapted to your every need. The solution offers functionalities for monitoring and optimizing your cash flow, whatever the size of your company.
Features include
- automation of accounting processes, such as provisional invoices based on sales orders,
- bank synchronization with a catalog of 24,000 banks,
- import of statement files for greater speed,
- list view for a global view and easier decision-making,
- a wide variety of multi-adaptations to meet the specific needs of each company (multi-device, multi-company support, multiple users for secure access).
Highlights :
- numerous functionalities for choosing the best possible solution,
- integrated payment management to avoid overdue payments,
- value for money.
Odoo
Sage FRP 1000cloud: for medium-sized and large companies
The finance departments of large and medium-sized companies face major challenges: collecting data, guaranteeing its security and reliability, and using it to make operational and strategic decisions. Sage FRP 1000cloud meets their needs, helping them to manage their financial activities with complete peace of mind.
Sage FRP 1000cloud features:
- general, analytical, auxiliary and budgetary accounting operations,
- real-time overview of financial flows, cash management and bank reconciliations, secure, automated payments,
- control and optimization of all business-related flows (purchasing, sales, inventory management),
- customized reporting for real-time monitoring of business performance, thanks to dashboards and indicators,
- interaction with numerous modules (payroll, HR, CRM, etc.).
Sage FRP 1000cloud strengths:
- scalable, to keep pace with your company's growth and new needs;
- ensures compliance with current regulations, thanks to regular updates;
- business expertise that meets the needs of a wide range of industries (hospitality, construction, insurance, associations, etc.).
Sage FRP 1000 Cloud
Silog ERP: the leading specialist in the industrial sector
Silog ERP is a SaaS software package that helps small and medium-sized businesses manage their industrial issues. Aeronautics, electronics, mechanics, plastics processing, foundries: this comprehensive ERP can be easily adapted to the specific needs of each business, to handle all operational functions and optimize flows.
Silog ERP
Features include
- management of all general, third-party and analytical accounting,
- reporting tools for activity management (dashboard, production monitoring) and financial reporting,
- a communication section to gather and share documentation and information (CRM, electronic document management, business intelligence, etc.),
- production resource planning, workshop management and automated production monitoring,
- management of master production plans, technical specifications, batches, etc.
Its strengths :
- functionalities developed specifically for industries to meet their legislative, quality and safety constraints,
- the ability to customize the interface (language, task automation, specific display, etc.) and add modules according to your needs,
- easy to set up, with intuitive navigation.
SILOG ERP
Yourcegid Finance Y2: the CFO's virtual office
For more than 20 years, Cegid has been offering business management software solutions tailored to the different businesses and needs of the market. Yourcegid Finance Y2 is a 100% cloud-based platform dedicated to the CFOs of SMEs, to help them optimize their organization and performance.
Yourcegid Finance Y2 - Cegid
Some of the features of Yourcegid Finance Y2 :
- functionalities for managing accounting activities (bank links, remote declarations, fixed asset management, etc.),
- automated cash entries thanks to interconnection with bank statement flows, easier closing, rapid identification of anomalies,
- internal management and control of your company's activities, with tracking of your customers and assignments (engagement letters, invoicing and time management, etc.),
- a powerful business intelligence tool to help you make the right decisions quickly, thanks to dashboards, financial indicators, graphs and reports,
- access to company data and information in the same tool, enabling collaborative working (notes, comments, etc.) and 360° vision.
The strengths of Yourcegid Finance Y2 :
- intuitive and flexible, it adapts to your needs;
- the Cegid cloud takes into account regulatory updates;
- expert support throughout the project, from needs analysis to implementation and data migration, including training and support.
Choosing your accounting ERP: looking to the future
Choosing an ERP that meets your needs is one thing. But choosing an ERP that will meet your future needs is even better.
After all, your company's aim is to grow and develop, and your needs may evolve just as quickly. Flexibility and the ability of your software to evolve with your business are therefore essential selection criteria.
What about you? What accounting software do you use? Why do you want to switch to ERP? Tell us in the comments!
Article translated from French