To determine the best ERP systems on the market, Forbes Advisor considered more than 20 of the leading vendors in the field and narrowed it down to the top 16 vendors. A total of 25 different indicators across five main categories were then analyzed. We then weight each overall category based on the factors that are most important to the business.
Here are the metrics we use to evaluate top ERP systems:
List price – 10%
The best ERP systems are affordable and offer good value for money. Therefore, we considered pricing, contract length, scalability, and availability of free trials and money-back guarantees.
Key Features – 30%
We focus on the key features that are most important to businesses seeking an ERP system. For example, we consider whether the system is cloud-based for accessibility, on-premises ERP, warehouse management, accounting, instant updates, reporting and analytics, and software integration for maximum flexibility.
Unique features – 20%
In addition to key must-have features, we also considered the unique offerings of each best ERP system. This includes factors such as automation, budget and financial management, customer relationship management (CRM) capabilities, forecasting, HR capabilities, supply chain management, and features designed to meet the needs of manufacturers.
Third-party ratings and reviews – 10%
To gain more insight into what real users think of the system, we looked at third-party user reviews and ratings. This metric takes into account not only the average rating across many rating sites, but also the number of reviews per provider to ensure the ratings reflect a broad user base.
Expert Rating – 30%
Our final metrics take into account our own first-hand experience and expertise. This affects qualitative metrics such as price value, ease of use, quality of support, and popularity.
