Top 10 Best ERP Software Tools for Retail Businesses in India 2023
Technology has been playing a vital role in driving business growth and efficiency in today's fast-paced business world. Enterprise Resource Planning (ERP) software has emerged as a game-changer for retail businesses of all sizes, enabling them to streamline their operations and achieve better results. According to recent statistics, 64% of companies are planning for ERP implementation in the next three years. ERP gives control and tracking of all enterprise resources and is typically used by merchandizers, accountants, supply chain personnel, marketing heads and more.
Why has ERP become so popular with retail businesses?
Retail firms want to integrate their business processes and functions such as finance, supply chain, manufacturing, and point of sales, into a single system providing real-time visibility and control. ERP integrates these processes and ensures improved inventory management, cost savings, enhanced collaboration with vendors and intra-company departments, and better decision-making by providing a single source of truth.
Cloud ERP for Omni Retail
Factors to Consider When Choosing an ERP Software
Choosing the right ERP software solution for your retail business can be a daunting task. With so many options available in the market, it’s not easy to determine which software will be the best fit for your business needs. However, there are several key factors businesses need to consider before deciding on this.
Business Goals
The first step towards choosing an ideal ERP software is to determine your business goals. You then need to zero in on a specific software to meet those goals. For instance, you may want to improve your customer service or increase productivity. You also need to be aware of your current business processes and how to improve them by using a specific ERP software.
Scalability
An ERP system should be able to grow with your business and keep pace with it. You shouldn't be paying for more than you need or stay stuck with a system that is too large for your needs. The system must be able to handle a wide range of functions, including retail inventory management, accounting, warehousing, customer relationship management (CRM), supply chain management (SCM) and more.
Ease of Use
The software should be user-friendly and easy to learn for employees at all levels within the company. It should also be intuitive enough for employees to make changes as needed without needing extensive training.
Customization Options
Usually, ERPs require many months of customization before they can be even shown to the end users. This is not an ideal solution for SMB retailers who are looking for an ERP. The ERP that is suitable for SMB retail businesses should have minimal needs for customizations.
Security Needs
A good ERP system will have security measures in place that protect your data from unauthorized access, theft or destruction by hackers. It will also ensure that all users have the appropriate access rights according to their roles within the organization and only authorized personnel view sensitive information such as customer credit card numbers.
Integrations
Your ERP software must integrate with other systems including e-commerce platforms, CRMs and POS. If you plan on using an e-commerce platform to sell products online, then the webstore must integrate with your new ERP system to make sure that orders are processed seamlessly.
Costs
It is also essential to consider the cost of the software, as well as ongoing maintenance and support costs. Ideally the costs should be low and the software should be provided as a subscription to ensure it can be clubbed with other operational expenses.
Careful consideration of these factors will help businesses make an informed decision to choose an ERP software. Let’s look at the 10 best ERP software for businesses in India.
Top 10 Best ERP Software for Multi Channel Retail Businesses in India in 2023
Here are the top 10 best ERP software tools for retail businesses in India in 2023 that can help take your business to the next level.
Ginesys
Ginesys is an all-in-one Retail ERP solution for retailers, wholesalers, offline and online brands. It is India's only ERP software for retail with an integrated omnichannel approach, allowing businesses to seamlessly manage their operations across multiple channels. It is part of the Ginesys One omnichannel software suite. Key features of Ginesys One include inventory management, procurement, warehouse management, B2B sales order management, B2C ecommerce order management, financial management and desktop and cloud point-of-sale (POS) capabilities. It also has complete Indian GST compliance out of the box and is also integrated with EaseMyGST for automating GST returns and e-invoicing. Ginesys also provides real-time analytics and reporting to businesses to help them make data-driven decisions. The pricing model of Ginesys ERP starts at Rs. 6000 per user per month but varies depending on the modules opted for. It is only available as a cloud subscription.
SAP ERP
SAP ERP is usually used for large organizations. The features of SAP ERP include financial management, global support, country localizations, streamlined financial operations, improved cost-efficiency and continuous innovation. A SAP ERP software solution supports multiple currencies and is available in 27 languages. It also provides a complete set of tools to streamline financial operations and improve margins.
For SAP S/4HANA (the latest version of SAP ERP), pricing starts at around $2,000 per user per year for cloud deployment and can range up to $5,000 per user per year for on-premise deployment. However, this pricing can vary depending on the size of the business and the specific features and modules required.
In addition to the base pricing, businesses may also need to pay for additional services such as implementation, customization, and ongoing support. SAP offers a variety of licensing options, including named user licenses and concurrent user licenses.
Tally ERP
For Tally ERP 9 (the latest version of Tally ERP), pricing starts at around INR 18,000 for a single user perpetual license and can range up to INR 54,000 for a multi-user perpetual license. Subscription-based licensing options are also available, with pricing starting at around INR 1800 per year for a single user.
For Tally ERP 9 (the latest version of Tally ERP), pricing starts at around INR 18,000 for a single user perpetual license and can range up to INR 54,000 for a multi-user perpetual license. Subscription-based licensing options are also available, with pricing starting at around INR 1800 per year for a single user.
Microsoft Dynamics 365
Microsoft Dynamics 365 is a cloud-based enterprise software solution that provides a wide range of features for managing financials, operations and customer relationships. It is designed for businesses of all sizes and provides a flexible and scalable solution that can be customized to fit the specific needs of the business. Its key features include Sales Management, Marketing Management, Customer Service Management and Financial Operations management.
The pricing and licensing options of Dynamics 365 vary depending on the specific solution and the size of the business.
The pricing for different verticals include Marketing (starting at $750 per user per month), Sales (starting at $20 per user per month), Customer Service (starting at $20 per user per month), Finance (starting at $30 per user per month).
In addition to the base pricing, businesses may also need to pay for additional services such as implementation, customization, and ongoing support. Microsoft also offers a range of licensing options, including named user licenses, device licenses, and subscription licenses.
Acumatica Cloud ERP
It is designed for small and medium-sized businesses. Acumatica is one of the best cloud ERP software in India. It offers a range of features including financial management, project accounting, distribution management, customer management, manufacturing management and field service management.
Acumatica Cloud based ERP software is available in multiple editions, including the Standard, Advanced, and Premium editions. The pricing starts at $1,000 per month for the Standard edition, which includes financial management and distribution management features. The Advanced edition, which includes additional features such as project accounting and customer management starts at $2,000 per month. The Premium edition, which includes all the features in the Advanced edition as well as manufacturing management and field service management features starts at $4,000 per month.
Acumatica Cloud ERP offers both perpetual and subscription licensing options.
Oracle NetSuite
Oracle NetSuite is a cloud-based business management software suite that helps businesses manage their finances, operations and customer relationships. It offers a wide range of features, including financial management, inventory management, order management, customer relationship management (CRM) and e-commerce. It also offers integrated analytics and reporting, allowing businesses to gain insights into their operations and make informed decisions.
When it comes to pricing, NetSuite offers a base license fee of $999 per month. Access costs for the service come at an additional $99 per user, per month. NetSuite licensing is subscription-based and can be renewed annually or for longer periods.
NetSuite also offers main product Builder, Suite Commerce Standard, and Suite Commerce Advanced. Each of these products has its own unique set of features and pricing options.
Epicor ERP
Epicor ERP provides end-to-end functionality for manufacturing, distribution, and service businesses. It is available in multiple editions, including the Standard, Advanced and Enterprise editions. The pricing for EPICOR ERP varies depending on the edition and the number of users required, but typically starts at $175 per user, per month.
EPICOR ERP also offers a range of deployment options, including on-premises, cloud, and hybrid. This allows businesses to choose the deployment option that best suits their needs and budget.
It is a robust and flexible ERP solution that offers a range of pricing and licensing options to suit different business needs.
Infor ERP
Infor ERP is a comprehensive enterprise resource planning software that is designed for small, medium, and large businesses. It offers a wide range of features including financial management, supply chain management, production management human capital management, and customer relationship management. It has multiple editions, including Infor M3, Infor LN, and Infor CloudSuite Industrial.
The pricing for Infor ERP varies depending on the edition and the number of users required, but typically starts at $80,000 for a perpetual license. Subscription licensing is also available for businesses who prefer to pay for the software on a monthly or annual basis.
Infor ERP also offers a range of industry-specific solutions, including Infor CloudSuite Automotive, Infor CloudSuite Aerospace and Defense, and Infor CloudSuite Distribution. These solutions are designed to meet the unique needs of businesses operating in specific industries.
Odoo ERP
Odoo ERP is designed for small, medium, and large businesses. It offers a wide range of features including sales, CRM, project management, accounting, inventory management, and manufacturing.
Odoo ERP is available in two editions - the Community edition and the Enterprise edition. The Community edition is free and open source, while the Enterprise edition is a paid version that offers additional features and support services. The pricing for the Enterprise edition varies depending on the number of users and the required features, but typically starts at $20 per user, per month.
Sage 300
Sage 300 ERP is designed for mid-sized businesses. Sage 300 ERP is available in two editions namely the Standard edition and the Premium edition. The Standard edition is designed for small businesses, while the Premium edition is designed for larger businesses with more complex needs.
The pricing for Sage 300 ERP varies depending on the edition, the number of users required, and the required features, but typically starts at $5,000 for a perpetual license or $150 per user, per month for a subscription license.
Sage 300 ERP also offers a range of industry-specific solutions, including Sage 300 Construction and Real Estate, Sage 300 Manufacturing, and Sage 300 Trade Specialty.
Comparison of Top 10 ERP Software
Let’s compare the best ERP software solutions. Below is India’s top 10 ERP software comparison table, which includes key features, pricing, and licensing options:
| ERP Software | Key Features | Pricing |
| Ginesys | Integrated omnichannel approach, inventory management, procurement, warehouse management, B2B sales order management, Ecommerce order management integration, production, financial management, POS, real-time analytics and reporting . It is the only ERP that is very retail focused in its product strategy and has integrated online and offline retail channels Hence it is most suitable for multichannel retail. | Starts at Rs 6000 per user per month and varies with additional modules and other configurations |
| SAP ERP | Financial management, global support, localizations, financial operations, continuous innovation | $2,000 for cloud deployment, $5,000 for on-premise deployment |
| Tally ERP | Accounting, inventory, payroll, financial process management | INR 18,000 for a single user perpetual license, and up to INR 54,000 for a multi-user perpetual license |
| Microsoft Dynamics 365 | Financials, operations, customer relationships, sales management, marketing management, customer service management and finance management | $20 per user per month |
| Acumatica Cloud ERP | Financial management, project accounting, distribution management, customer management, manufacturing management and field service management | $1,000 per month for the Standard edition, and up to $4,000 per month for the Premium edition |
| Oracle Netsuite | Financial management, inventory management, order management, customer relationship management (CRM) and e-commerce | Starting at $99 per user per month. |
| Epicor ERP | End-to-end functionality for manufacturing, distribution and service businesses | $175 per user per month |
| Infor ERP | Financial management, supply chain management, production management, human capital management and customer relationship management | $80,000 for a perpetual license |
| Odoo ERP | Sales, CRM, project management, accounting, inventory management and manufacturing | $20 per user per month for the Enterprise edition |
| Sage 300 ERP | Financial management, project management, human resource management, distribution management and manufacturing management | $5,000 for a perpetual license, and up to $150 per user per month for a subscription license |
The 10 ERP software listed here offer a range of features with distinct pricing and customization options suited for your needs. Select the best ERP software depending on your business requirement, industry, goals and your budget.
Based on these comparisons, businesses looking for an ERP solution that is suitable for online and offline retail, you should consider Ginesys. It is the only software we found that has a deeply integrated point of sales systems (offline as well as cloud and mobile POS), ecommerce order management system integrations, loyalty integrations and much more as part of a ready to use retail tech stack called Ginesys One.
For businesses looking at a comprehensive solution with a global presence, SAP ERP is a good option. Microsoft Dynamics 365 is the ideal cloud-based solution for businesses looking for flexibility and scalability but may require a lot of customizations to integrate online stores, marketplaces and more. It also does not have any loyalty marketing engine.
Also Read: Indian vs Global ERPs for Indian Companies
Accelerate your Business with the Best ERP Software- Ginesys
Ginesys is a tried and tested ERP software, helping retail businesses of different sizes streamline their operations and accelerate growth. With a highly intuitive user interface and a wide range of powerful ERP software features, Ginesys is an ideal solution for companies looking to take their business to the next level.
One of the key benefits of Ginesys ERP is its ability to automate and optimize key business processes. From inventory management and order processing to financial reporting and production, Ginesys provides a single, integrated omnichannel approach that can handle all your company's needs but also works for multibrand retail, single brand offline retail,D2C brands, wholesale businesses and more.
Ginesys ERP is highly flexible and customizable, allowing you to tailor the software to meet the unique needs of your business. Whether you're a small startup or a large enterprise, our software can be configured to fit your specific requirements.
It is among the best cloud-based ERPs with advanced reporting and analytics capabilities. With real-time data and insights at your fingertips, you can make informed decisions and take action faster than ever before. Ginesys also comes with a wide range of product integrations such as Cloud POS and loyalty providers to give you a holistic retail solution.
Ginesys is a powerful and reliable retail ERP solution that can help accelerate your business and drive success. If you're looking to streamline your operations and take your company to the next level, consider Ginesys today!
