4 best ERP software in India for SMEs

Published - December 14, 2023 05:51 pm IST

ERP software helps automate and centralize many business activities into a single system.

ERP software helps automate and centralize many business activities into a single system.

Explore the top-rated ERP software options to optimize business processes, improve efficiency, and achieve cost savings for small and midsize enterprises (SMEs).

There could be scenarios where organisations could feel that they’ve outgrown their existing software. This could mean their business processes might have become slow and inefficient over time. In such situations, small and midsize enterprises (SMEs) can opt for enterprise resource planning (ERP) platforms to improve business efficiency, process standardization and save money. 

What is enterprise resource planning (ERP) software, and how can it help SMEs?
Enterprise resource management or ERP software is a business management practice that helps automate and centralize many business activities into one system. Such software solutions assist companies in managing various tasks, such as production, sales, marketing, accounting, finance, and human resources. Additionally, ERP software helps establish links between departments, facilitating data flow and expediting the decision-making process in general. 

In this article, we will look at the list of ERP software that users have best rated. The product selection for this article was based on the following factors. The complete methodology can be found at the end of this article:

  • Have an average overall rating of 4.2/5 stars in the last two years
  • Have at least 20 user reviews over the last two years (1 October 2021 to 1 October 2023)
  • Aligns with the market definition of enterprise resource planning software
  • Are headquartered in India

The following top ERP software offer supply chain management, inventory management, and accounting features in common, and are arranged in alphabetical order.

Best ERP software companies in India

1. ERPNext

  • Overall rating: 4.6/5
  • Ease of use: 4.5/5
  • Customer service: 4.1/5
  • Features: 4.5/
  • 5Value for money: 4.7/5

ERPNext is a free and open source enterprise resource planning software that provides users with a full-fledged accounting module, via which they get a real-time view of their cash flow. The order management feature of this tool helps increase productivity and lower costs by managing sales and purchase orders and cycles. Additionally, the CRM feature of this tool allows users to retain more customers by optimizing their sales process. 

Moreover, with the help of this tool, users can track tasks, timesheets and issues by project and deliver internal and external projects on time. The tool also offers HR and payroll features, including onboarding, attendance tracking, expense claims and asset management. On the manufacturing side, users can effectively maintain and manage multilevel bills of materials, production planning, job cards and inventory. This software is free to view, and an open-source code is available. More details on the other paid plans can be found on the tool’s official website. 

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2. GoFrugal

  • Overall rating: 4.4/5
  • Ease of use: 4.4/5
  • Customer service: 3.9/5
  • Features: 4.4/5
  • Value for money: 4.3/5

rovides users with mobile-enabled POS/ERP solutions with apps for complete inventory control from stock-counting, refilling, and stock-picking. The tool helps automate business operations with real-time impactful data, from order processing to shipping goods to customers. It optimizes business operations with enhanced accuracy and increased profits using sales and distribution software.

Additionally, this software is crafted to benefit both single and chain businesses, catering to the needs of stockists, super stockists, wholesalers, dealers, and distributors. Users can even keep full control of their stocks, know what they are selling and what they are left with, and know what to purchase and when to purchase using the automatic reorder feature. The tool also allows users to have real-time data visibility with forecasting, which can potentially help businesses address changing consumer demands. The cloud version of this tool is available for free to download. More information on different paid plans can be found on the tool’s official website. 

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3. TallyPrime

  • Overall rating: 4.4/5
  • Ease of use: 4.3/5
  • Customer service: 4/5
  • Features: 4.3/5
  • Value for money: 4.2/5

TallyPrime is an ERP tool that helps users with multiple business functions such as invoicing, accounting, inventory management, e-invoicing, banking, payroll management, taxation, compliance and other such areas. TallyPrime supports different billing formats to suit business needs. Whether users deal with products or services, they can choose a suitable invoice format for faster billing. Users can also share invoices, orders and more directly from TallyPrime via WhatsApp. 

In addition to this, users can record invoices, quotations, and orders, accept payments and receive bills in foreign currency. Users also have the option to create different price levels, such as wholesaler, retailer, customer, etc., and assign different price lists (quantities, discounts), ensuring error-free and faster billing by auto-capturing the price details. This software does not have a free version available. Additional details on the paid plans can be found on TallyPrime’s official website. 

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4. TYASuite

  • Overall rating: 4.2/5
  • Ease of use: 4.3/5
  • Customer service: 4.3/5
  • Features: 4/5
  • Value for money: 4/5

TYASuite is a cloud-based ERP solution that potentially eliminates the need for IT infrastructure helping the organization to cut down the costs by a higher margin thereby exponentially increasing the ROI. The ‘Plug and Play’ software introduced by TYASuite allows the user to turn the different features on or off via the admin panel as per the business requirements, streamlining every process. This tool can be integrated with any existing third-party software.

This software helps minimize the time spent on each business process and eliminates the chances of human error, thereby automating everything. Additionally, the tool gives users access to real-time data so that it is easy for decision-makers to initiate the right decision as per the demand of the business. TYASuite software fully supports business operations in multilanguage environments. There is no free version of this tool available. Users can find more information on the paid plans on TYASuite’s official website.

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What to consider when purchasing ERP software?

  • Clearly define your ERP strategy: Companies may not have a defined strategy for implementing an ERP system; instead, they either build one due to tactical choices or depend on their IT team to establish the requirements without taking other stakeholders’ demands. This may result in poor deployment of your ERP system, or you may buy a tool that is too complicated and technical for your staff to utilize. When creating your ERP strategy, engage with stakeholders from all relevant departments to avoid this, and create a software shortlist that satisfies their requirements. 
  • ERP systems tailored to specific industries instead of generic ones: Some vendors may provide ERP software tailored to certain industries (construction, manufacturing, fashion, education, etc.). Whenever possible, choose an enterprise resource planning system specific to your business rather than acquiring a generic solution that may be tailored to any industry. You can perform workflows with industry-approved templates and reduce failure rates by adhering to industry standards with a specialized solution.

Click here to find the best ERP Software for your business in India: https://www.capterra.in/blog/4386/best-erp-software-india

Looking for enterprise resource planning software? Check out our catalogue! 

Methodology

To be considered for this report, products had to justify the following criteria as of October 2023:

  • All four tools in our list justify Capterra’s definition of ERP software: ‘Enterprise Resource Planning (ERP) software integrates all of an organization’s departments and functions into a single system. ERP software systems handle processes including manufacturing, logistics, distribution, inventory, shipping, invoicing and accounting. ERP applications can also control business-side functions, including sales, billing, and human resources management.’
  • All software companies have headquarters in India
  • They have the following core features: financial management, integrated business operations
  • They have a minimum average overall rating of 4.2/5 stars
  • All tools have had over 20 user reviews in the past two years (1 October 2021 to 1 October 2023)

From there, the four products with the highest average overall ratings were selected for inclusion. 

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