The Best ERP Vendors in Singapore for 2023 & How to Choose It!

In the previous chapter, you learned to identify your business needs in order to get the right ERP system for your business. Now in the final chapter of the ERP implementation series, we will help you find the best ERP vendor and providing a list of recommendations.

There are many ERP software vendors out there that offer similar solutions. Thus, you must really take your time to find the perfect fit for your business.

Factors to Consider When Selecting an ERP Software Vendor

Comparing ERP software vendors will be difficult if you have too many selections. So, you should narrow them down to two or three vendors. After that, you can invite each of them to a meeting and provide them with a list of your business and technical requirements.

Here are a few factors that you must consider when comparing one ERP provider to another.

1. The ERP Solutions Itself

When you are looking for an ERP software vendor, focus on the solutions you are looking for. For example, if you are looking to boost your sales team product, you can choose sales management software.

You might want to choose an ERP vendor that has years of experience, whose has a good reputation, and their clients are well-known companies. However, the first thing you have to find out is the solutions they offer.

Here are some questions that you should ask:

• Does their system provide solutions to various issues that my business is facing?
• Does their system consist of the modules my business needs?
• Can their system be integrated with my existing systems (if any)?
• Is their system customizable enough to fit my business requirements?
• How user-friendly is their system for non-technical users?

2. ERP Software Vendor Reputation

When you already shortlisting the potential ERP vendors, now let’s browse further about their profiles. You can go through the reviews about them online through search engines or social media. Or, you can ask them directly during the meeting.

Find out who their clients are. More importantly, you should also seek out references from businesses that are similar to yours.

You should reach out to the vendors’ clients to hear about their experiences with their ERP systems. From here, you will be able to find out how potential ERP software vendors treat their clients and how their ERP systems work.

By talking directly to the ERP software vendors’ clients, you will have the opportunity to evaluate. whether the ERP systems you are considering are suitable for your business and whether you should continue to the next stage with the vendors.

Also read: What is ERP and Why is It Important for Businesses?

3. The Support

After finding at least two vendors that meet your criteria, it’s time to compare the types of support they offer. You must be able to ensure that the ERP vendor you choose will completely help you from the requirement analysis to the implementation. After you find out the reputation of the vendor, you can ensure that vendor by the following questions.

These are some questions to think about:

• How long is the warranty period?
• What kind of training do they provide and how long will it take?
• How fast can they respond to my inquiries related to system usage?
• What are the solutions they offer when the ERP system has issues?
• How long will the implementation take?
• How often does the ERP system get updated?

4. The Cost

One of the most important factors you should not miss is the cost of the ERP system itself. Additionally, you must ensure that the cost fits your budget.

Tier I ERP software vendors like SAP and Oracle may have countless experiences in providing ERP solutions, but if their solutions don’t fit your specific business requirements, then they are not worth the money.

However, you should not choose an ERP system merely based on the low price, because you would not own a cheap ERP system with poor functionalities. Thus, instead of comparing prices, try to compare advantages. Click on the button below to learn more about our software’s pricing.

Also read: 16 Best ERP Software in Singapore You Should Know in 2023

5. ERP Vendor Value

If you have trouble comparing one ERP software vendor with another, then what you have to do is to find out the value offered by each vendor. The value can be the benefits of each vendor that they offer to you. So, when you find out the problems in comparing the vendors, you probably can check the value of each vendor.

Know what differentiates your prospective ERP vendor from others. Does their ERP system provide features that other ERP systems don’t? What makes their services better than their competitors?

HashMicro’s ERP system can be used by as many users as possible without the additional fees charged for each user, while most ERP vendors usually charge customers on a per-named-user basis.

Here are some of the benefits of implementing HashMicro’s ERP system compared to other ERP systems:

• The number of users is unlimited
• Free feature and version updates
• In-house software development makes customization a lot easier
• Localized features (especially for tax & insurance management)
• Analytic reporting tools that provide convenience for users to forecast demand & revenue
• Modern, simple, and easy-to-use interface

6 Best ERP Vendor Recommendations

When it comes to selecting an ERP (Enterprise Resource Planning) system for your business, there are several reputable vendors in the market to consider. These vendors offer robust ERP solutions that cater to different industries, sizes of organizations, and specific business needs. Therefore, here are six of the best ERP vendor recommendations worth exploring:

1. HashMicro

HashMicro is a reputable enterprise resource planning (ERP) vendor that provides comprehensive ERP solutions to businesses across various industries. With a strong focus on customization, scalability, and user-friendly interfaces, HashMicro aims to streamline and optimize business processes, improve productivity, and enhance overall operational efficiency for its clients.

HashMicro understands that every business is unique, and their ERP solutions are highly customizable to meet specific requirements. They provide the flexibility to tailor the system to fit individual business processes, workflows, and industry-specific needs. Customization options include modifying existing modules, adding new features, and integrating with third-party applications.

HashMicro offers a wide range of ERP solutions that cater to different business needs, including financial management, inventory management, customer relationship management (CRM), human resource management (HRM), procurement, project management, manufacturing, and more

Oracle NetSuite is considered a high-end ERP solution, and its pricing structure may not be affordable for small or budget-conscious businesses. The licensing fees, implementation costs, and ongoing subscription fees can be significant, especially for businesses with complex needs or extensive user counts.

Because of its primary focus on financial management and may have limitations in other areas, such as inventory management, manufacturing, or customer relationship management. Therefore, this can be a limitation for businesses that require comprehensive end-to-end ERP functionality beyond financials.

Acumatica’s pricing structure may be a drawback for some businesses. Additionally, the licensing and subscription costs can vary based on user count, module selection, and customization needs. Organizations should carefully evaluate the total cost of ownership and align it with their budget.

While Plex provides some integration capabilities, the system may have limitations when it comes to integrating with third-party software or systems. This could be a disadvantage for businesses that rely on specific software applications or have existing systems that need to be integrated into the ERP ecosystem.

7. Odoo

Odoo’s dynamic system is equipped to handle varied procurement strategies, such as ‘Make to Order’ for non-stocked products and ‘Make to Stock’ based on automatic order points. It efficiently manages Products and Product Categories, Vendors, and Vendor Pricelists, enabling businesses to maintain optimal inventory levels and seamless operations.

Furthermore, Odoo shines in facilitating customer transactions, streamlining the process from sending quotations to delivering orders. It also extends additional functionalities, such as facilitating call for tenders, supporting dropshipping, and managing multiple vendor bills simultaneously. 

8. Microsoft Dynamics 365

Microsoft Dynamics 365 offers an exceptional suite designed for trading and logistics companies, focusing on optimizing sales, delivery, and logistics processes. Harnessing the power of Microsoft’s advanced technology, Dynamics 365 uniquely automates, digitizes, and optimizes internal processes, from purchasing and inventory to order management. 

9. MPS Solution

MPS Solutions tailors its offerings to the unique needs of small-sized businesses, demonstrating an unrivaled understanding of the constraints and requirements in this sector. MPS Solutions is powered by a tightly-knit, highly committed team that values sincerity and simplicity, delivering their work in a transparent and honest manner.

10. ERPNext

ERPNext stands out with its robust inventory management features such as Serial Number and Batch Tracking. This functionality not only enables you to track the movement of every item in your inventory but also gives you superior control over each batch’s expiration. Moreover, ERPNext makes it effortless to check stock levels, manage inter-warehouse transfers, and generate specific warehouse reports within mere seconds.