What is the best ERP for retail? Best Retail & Ecommerce ERP Software

Comparing retail ERP software and the best retail ERP systems can take months. Retail & ecommerce business leaders often ask us, what is the best retail ERP system? What is the best ERP software for e-commerce? What is the best Cloud ERP for retail?

In this article, we'll answer questions such as:

• What is the best ERP system for retail?
• What are the top ERP software solutions for e-commerce?
• How does ERP help e-commerce businesses?

If your retail or e-commerce business is currently in the process of preparing for ERP implementation, then supercharge your preparation by using our free ERP requirements document.

Retail ERP Modules & Requirements

What ERP modules do retail and e-commerce businesses use? How does ERP benefit retail and e-commerce businesses? 

Financial Management & Accounting

At the core of e-commerce ERP systems and ERP software for retailers is robust financial management and accounting. As retail businesses grow, they rely on strong finance capabilities to provide analytics and reporting on profit margins, sales data and more to inform data backed decision making. Retail ERP systems enable you to manage multiple legal entities compliantly and integrate sales, marketing, stock and fulfilment data into your financial models. 

Stock & Inventory Management 

Stock and inventory management is crucial for retail and e-commerce businesses. ERP software for e-commerce prevents missed revenue by optimising your stock and inventory management by minimising stock outs and ensuring real time stock information and levels are communicated throughout your business and to customers. 

Ecommerce ERP software enables you to keep ideal levels of stock to optimise warehousing costs, cashflow but also maximise sales and increase the efficiency of your warehouse employees.

Ecommerce

Retail ERP software & systems are increasingly being implemented due to retail businesses moving to online business models such as using e-commerce platforms. Ecommerce systems such as Shopify, Magento and Demandware have pushed retailers of all sizes to optimize their back office processes.

A real-time connection between your enterprise resource planning software for retail and your front end commerce applications enables you to provide real time data to your customers and pass sales order data to your fulfillment teams and logistics providers.

Integration

Integrating your ERP software for retail with other systems will be crucial. Common integrations for retail ERP software can include online stores, marketing automation platforms, service desk software and 3PL providers.

Logistics & Third Party Logistics (3PL)

With customers now expecting faster delivery of purchases than ever before, having real-time communication with your third-party logistics providers is crucial. Retail ERP systems and e-commerce ERP software enables you to integrate with your 3PL provider and coordinate logistics processes at scale.

Cloud ERP for Retail

Many retail and e-commerce businesses are extremely young organizations and therefore come with a small or limited IT team and On-Premise software infrastructure. In 2021, more and more retail ERP software is being hosted in the Cloud, and Cloud ERP for retail is becoming the defacto ERP software for retail businesses. 

Best ERP Software for Retail

SAP Business One

SAP Business One is an ERP system designed for small and midsized retail businesses. SAP Business One for retail provides industry specific templates to manage fashion retail and several other retail and ecommerce industry niches.

SAP Business One is a retail ERP system that can be deployed in the Cloud, On-Premise or in a private hosted environment.

Oracle Netsuite

Oracle Netsuite is prime Cloud ERP for retail and e-commerce choice. 

Microsoft Dynamics

Oracle ERP Cloud

SAP S/4 HANA

How to compare Retail ERP Systems

Comparing retail ERP software needs to start with a thorough review of your own business requirements. Doing this enables you to know what type of ERP software and functionality that you're looking for. 

Once you have completed a review of your ERP for retail requirements, then you can go to market and begin to review applicable ERP software vendors for retail. 

We recommend that you review anywhere from 4-8 potential ERP systems to understand which one best fits your needs. Most organizations in the retail industry will do this by process of elimination, scheduling discovery and demonstration calls with multiple ERP vendors. 

To save time doing this, you can shortlist ERP vendors faster using ERP Research. Book a call with one of our team here to understand which ERP software for retail should be on your evaluation list.