Top Retail ERP Software: 5 Best Solutions

Having a retail ERP is an essential tool at your disposal if you are running a retail business. Such a tool will allow you to manage and organize everything related to your business including inventory, retail locations, and price adjustments.

In what follows, we will explain the importance of ERP for the retail industry, and more importantly, share with you the best Retail ERP software that you can rely on for your business.

What is a Retail ERP?

Retail ERP is a tailored software designed to streamline and automate various aspects of retail operations, from customer-facing activities to back-office tasks. By integrating different business processes, this tool helps retailers improve efficiency and profitability.

Why is ERP Essential For Retail Business?

Consumers nowadays have the luxury of choosing between physical stores, online shopping, or a combination of both. While brick-and-mortar stores still dominate retail sales, online shopping is rapidly gaining ground. To thrive in this environment, retailers must focus on providing a seamless customer experience across all channels.

However, managing multiple channels presents a number of important challenges for retailers. These challenges include ensuring real-time inventory updates, timely shipping, accurate sales information transfer, stock management, and customer satisfaction.

To succeed in the retail industry, having reliable and efficient technology is essential. This technology should cover inventory management, warehouse operations, point of sale, vendor relationships, supply chain, human resources, customer management, demand planning, order management, and revenue management.

As a retail business grows, managing these separate processes manually becomes increasingly difficult. A retail ERP system will be a valuable asset in this regard.

It is a technological tool that can help you consolidate various business components and store relevant information in a centralized location. All this will result in a more successful retail business.

5 Best ERP Solutions For Retail

Having discussed the importance of ERP for the retail industry, we are now moving on to introducing 5 of the best ERP solutions in the market that will help you with your retail business. These ERP tools are:

1. Acumatica
2. Brightpearl
3. SYSPRO
4. Microsoft Dynamics 365 Business Central
5. Epicor Prophet 21

Note that except for Microsoft Dynamics 365, none of the ERP solutions have their pricing options publicly available. This means that you need to reach out to their website and request a custom quote.

Acumatica

Acumatica offers a cloud-based retail and eCommerce ERP solution that is specifically designed for small and medium-sized businesses. This tool called the Retail-Commerce Edition, provides comprehensive features for managing finances, customer relationships, inventory, and sales.

Main Features

Key features of the Acumatica Retail-Commerce Edition include:

• Financial management
• Customer relationship management
• Warehouse management
• Sales order management
• Reporting and analytics tools
• Business intelligence
• Customer self-service portal

Pros

Acumatica offers many benefits, such as:

• Acumatica offers flexible options to tailor the software to specific business needs.
• It seamlessly connects with popular third-party applications.
• Acumatica uses a flat monthly fee structure with unlimited users.
• Acumatica has user-friendly dashboards for easy data visualization

Cons

You must be aware of a few limitations when using Acumatica. These are:

• While accessible on any device with the internet, Acumatica’s mobile capabilities may be somewhat limited.
• Acumatica’s extensive customization features are quite complex and may require specialized knowledge.
• The cost increases significantly when using multiple modules.

Rating

Acumatica has an overall rating of 4.5 (from 1217 reviews as of Sep 2024) on the G2 website and a rating of 4.3 (from 135 reviews) on Software Advice.

Brightpearl

Brightpearl is a comprehensive software platform designed for retail and wholesale businesses. It automates various back-office operations, such as inventory, order management, and accounting. In addition, Brightpearl is highly scalable and can easily integrate with other business tools and platforms.

Main Features

Brightpearl offers a wide range of functional features, including:

• Real-time data
• Order and inventory management
• Forecasting inventory and demand
• Warehouse management
• Accounting and handling financial transactions
• Managing supplier relationships and orders
• Analytics
• CRM for managing customer relationships
• Point-of-sale functionality.

Pros

Brightpearl is a great ERP solution that provides users with quite a few benefits, including:

• Brightpearl gives you robust inventory management features.
• It supports transactions in multiple currencies.
• It handles inventory across multiple warehouse locations.
• Brightpearl easily connects with other business tools and platforms

Cons

Note that Brightpearl, like any other ERP solution, comes with several drawbacks.

• It has been reported that users experience delays in customer support response times.
• It is said to have a steep learning curve for new users.
• The reporting features could be improved for more in-depth analysis.

Rating

Brightpearl has received a rating of 4.5 (from 72 reviews as of Sep 2024) and 4.4 (from 158 reviews) from the users of G2 and Software Advice respectively.

SYSPRO

SYSPRO is a comprehensive ERP software solution for manufacturing businesses. It covers various aspects of manufacturing, including job shops, and custom orders. SYSPRO also includes modules for accounting, inventory, planning, supply chain, CRM, and other essential functions.

Main Features

SYSPRO offers many useful features that include:

• Built-in inventory management with forecasting
• Low-stock alerts and automations
• Real-time data analysis for proactive planning
• Cloud-based ERP with cost control features
• Vendor and contract management
• Purchase order tracking
• E-commerce platform integrations
• Data synchronization between online and brick-and-mortar inventories

Pros

There are many advantages to using SYSPRO, such as:

• SYSPRO is easy to navigate and use, with drag-and-drop functionality.
• It covers a wide range of business needs for manufacturers and distributors.
• It offers customizable dashboards that give you real-time insights into business performance.
• SYSPRO provides a comprehensive knowledge base, training, and community support.

Cons

There are also a number of shortcomings, including:

• SYSPRO is a bit complex to learn due to its extensive features.
• SYSPRO is quite expensive for small and medium-sized businesses.
• Compared to other ERP solutions, SYSPRO might not be as scalable.
• It does not have specific features for highly specialized industries.

Rating

On the G2 website, SYSPRO is currently rated 4.1 (from 227 reviews as of Sep 2024). It also has a rating of 4.2 (from 101 reviews) on Software Advice.

Microsoft Dynamics 365 Business Central

Microsoft Dynamics 365 Business Central is a versatile ERP software suitable for various small and medium-sized businesses. As a retail ERP, it offers essential features like real-time inventory tracking, omnichannel sales reporting, and advanced order management tools.

Main Features

Microsoft Dynamics 365 has many essential features, including:

• Buying and purchase process management
• Customer relationship management (CRM)
• Inventory with demand forecasting and analytics
• Multi-channel sales
• Order tracking
• Integrations with POS systems and other tools
• Data synchronization across software

Pros

Microsoft Dynamics 365 Business Central is a top-notch ERP system that provides users with a wide range of advantages.

• Microsoft Dynamics offers advanced features for managing inventory.
• It also provides numerous integrations for retail-specific needs.
• It works well with other Microsoft software, like Outlook, Excel, and Teams.
• It offers real-time insights into inventory levels and reports.

Cons

There are drawbacks associated with using Microsoft Dynamics 365 as an ERP solution.

• It tends to become more expensive when you add additional features.
• The user interface is considered rather outdated.
• Despite being a great choice for smaller businesses, it may not be as efficient for larger companies or those with complicated needs.

Pricing

In addition to a Free Trial that allows you to experience the integrated solution for finance, sales, service, and operations with a 30-day free trial, Microsoft Dynamics 365 offers three pricing options.

Rating

Microsoft Dynamics 365 is rated 3.9 (from 697 reviews as of Sep 2024) on G2 and 4 (from 169 reviews) on Software Advice.

1. Dynamics 365 Business Central Essentials:

• Price: Starting at $70 per user per month
• Features: Comprehensive management for finance, sales, and operations, including Microsoft Copilot.

2. Dynamics 365 Business Central Premium:

• Price: Starting at $100 per user per month
• Features: Includes all Essentials features, plus advanced capabilities for service management and manufacturing.

3. Dynamics 365 Business Central Team Members:

• Price: Starting at $8 per user per month
• Features: Limited access for reading data, approving workflows, and creating or updating specific information.

Epicor Prophet 21

Epicor Prophet 21 is a versatile cloud-based ERP solution for small and medium-sized retail businesses. It offers a variety of modules to manage different departments, including payment processing, POS systems, and inventory management. You can also customize the platform to fit your specific needs

Main Features

These are the main features that Epicor Prophet 21 provides:

• Tracking inventory levels and setting reorder points
• Analyzing consumer trends and demand forecasting.
• Utilizing electronic data interchange
• Tracking customer information, orders, and payments
• Providing personalized recommendations and features
• Service and maintenance management
• Human resources management

Pros

Epicor Prophet 21 benefits users in a number of important ways.

• Epicor Prophet 21 has many customization options that allow for tailoring modules, fields, and dashboards to specific needs.
• Epicor Prophet 21 offers solutions tailored to various industries.
• It includes advanced features for managing inventory and supply chain.
• Epicor Prophet 21 supports sales across multiple channels and locations.

Cons

Don’t forget the limitations of Epicor Prophet 21 which are:

• Epicor Prophet 21 has a steep learning curve for staff.
• On-premise deployment usually results in additional support costs.
• Data aggregation may be slow in some cases.

Rating

Epicor Prophet 21 is rated 4 (from 156 reviews as of Sep 2024) on G2. Plus, it has a rating of 3.9 (from 78 reviews) on Software Advice.

Factors to Consider When Picking a Retail ERP

When selecting a retail ERP, it is crucially important to prioritize features that align with your business’s specific needs. To help you narrow down your options, consider the following 5 factors.

Budget

Budget is a very important factor to take into consideration when choosing a retail ERP.

• Pricing: Determine your budget and compare the costs of different ERP systems.
• Hidden Costs: Be aware of additional expenses, such as implementation fees, customization costs, and ongoing maintenance charges.
• Value for Money: Size up the features and benefits offered by each ERP in relation to its price.

Implementation

Implementation refers to the process of setting up and configuring the ERP system to meet your business needs. In this regard, pay attention to the following factors:

• Timeframe: Estimate the expected implementation duration and plan accordingly.
• Expertise: Ensure the ERP provider has experienced professionals who understand your industry and can effectively implement the system.
• Project Management: Have a clear project management plan in place to manage the implementation process efficiently.
• Staff Training: Provide adequate training to your staff to ensure they can use the ERP effectively.

Urgency

Urgency is the degree of importance or speed with which an ERP system needs to be implemented. When it comes to urgency, prioritize the factors below:

• Timeframe: Determine your desired implementation timeline and make sure that the ERP can meet your deadlines.
• Delay Impact: Consider the possible consequences of delays in implementation, such as lost revenue or operational inefficiencies.

Scalability

Scalability can be defined as the ERP system’s ability to adapt to your business’s growth and changing needs. In terms of scalability, there are a few things to keep in mind, such as:

• Growth Plans: Consider your business’s future growth plans and ensure the ERP can accommodate your expanding needs.
• Adaptability: Evaluate the ERP’s flexibility to adapt to changes in your business processes and requirements.
• Future-Proofing: Choose an ERP that can evolve with your business and avoid costly upgrades or replacements.

Customer Support

Customer support is essential for ensuring that you can effectively use and maintain your ERP system.

• Availability: Make sure that the ERP vendor offers reliable and timely customer support.
• Expertise: Verify that the support team has the knowledge and experience to address your questions and issues.
• Channels: Take the available support channels into account, such as phone, email, live chat, or online forums.
• Response Time: Evaluate the vendor’s response time to customer inquiries and support requests.

Final Words: How BSUPERIOR Can Help

Implementing a retail ERP system is a significant step for your business. Choosing the right ERP is essential as each business has unique needs. To make sure that you will achieve the best outcome, we suggest working with a software development company that provides you with customized solutions.

At BSUPERIOR, our main expertise is in creating custom-made ERP solutions for a variety of industries. What’s more, we offer experienced ERP consultants to guide you through the implementation process. Our consultants will ensure a smooth transition and help your end-users adapt to the new system effectively.

Contact us today to learn more about how BSUPERIOR can assist you in implementing a tailored ERP solution for your retail business.