Choosing the right ERP software for your organization can be challenging, given the multitude of options available. To help you navigate this decision, I’ll discuss the top 10 ERP systems for 2024 and beyond.
Our evaluation considers several factors, including features, functionality, implementation costs, risks, and how well ERP technologies align with digital transformation goals. This thorough assessment is essential as many organizations find it difficult to identify the best solution for their needs.
In this discussion, I aim to provide an unbiased overview of the top 10 ERP systems to consider for 2024 and beyond. Third Stage Consulting is not affiliated with any software vendors or systems; our recommendations are based solely on our experience assisting clients in selecting and implementing various solutions.
10. Force Platform by Salesforce
Ranked at the 10th position, the Force Platform is a product of Salesforce, designed to enhance its well-known CRM solution. Owned and developed by Salesforce, this platform goes beyond traditional CRM functionalities.
The Force Platform allows organizations and third-party developers to extend or customize Salesforce’s capabilities. This is done by developing third-party applications that introduce additional features and functionalities. These apps are tailored to specific functions or industries, enabling businesses to create semi-customized solutions similar to comprehensive ERP systems. Last year, the Force Platform held the 9th spot on our list, but it has since moved to the 10th position. Nevertheless, it continues to be a powerful solution, offering a different approach for organizations that prefer a flexible platform over a single application. The platform provides extensive flexibility, making it possible to integrate various systems or build custom applications that can easily work within the Force Platform ecosystem.
9. Odoo
Taking the 9th position, Odoo is an open-source system that has gained considerable traction in the marketplace. Although it was ranked 8th on our list last year, it has dropped to the 9th spot this year due to the rise of two new competitors that surpassed Odoo in our rankings. However, Odoo’s strengths continue to secure its position within the top 10.
Odoo is particularly attractive to small and mid-sized businesses that value flexibility and simplicity in a market dominated by complex ERP systems. Additionally, it is cost-effective, making it an appealing option for organizations with limited budgets. On the downside, Odoo may lack the scalability and sophistication required by larger enterprises. There is also a concern that Odoo might be overextending itself by targeting larger organizations, while its software might not fully meet the intricate demands of such entities.
Despite these challenges, Odoo’s advantages have earned it the 9th spot on our top 10 list.
8. Oracle NetSuite
Oracle NetSuite takes the 8th position this year, dropping from its previous 2nd spot due to implementation challenges reported by some customers. Despite this decline, NetSuite remains a key player in the Software as a Service (SaaS) and cloud space, with a mature and well-established product. Unlike many legacy on-premise vendors transitioning to the cloud, NetSuite has a strong track record, making it a leader in its field.
One of NetSuite’s major strengths is its alignment with small and mid-sized companies. If our evaluation focused solely on smaller businesses, NetSuite might rank higher, possibly even at the top. However, when assessing across various sizes and industries, its capabilities for larger organizations fall short. The primary reason for NetSuite’s lower ranking this year is the implementation challenges some clients have faced. These issues often stem from the product’s complexity and the limitations imposed by its multi-tenant SaaS model, which restricts customization compared to other cloud solutions.
Despite these challenges, Oracle NetSuite remains a powerful and widely adopted solution, particularly appealing to small and mid-market businesses. It’s also noteworthy that NetSuite ranks as the 2nd most frequently chosen system among our clients.
7. IFS
This year, IFS secures the 7th position, down from its previous 5th spot. IFS is known for offering a specialized solution with a strong emphasis on construction, field services, and select manufacturing and distribution sectors. Unlike many other software vendors that aim to cover all possible needs, IFS takes a more focused, niche approach, which has proven to be one of its key strengths. This targeted strategy is reflected in IFS being the 7th most chosen system among Third Stage Global’s clients.
IFS’s strengths lie in its concentrated focus and its commitment to global growth. The company has shown significant progress in expanding its partner ecosystem, which helps drive sales and support the implementation of its solutions. However, this niche focus can also be a limitation, particularly when compared across various industries, which may reduce its overall ranking in more generalized evaluations.
Despite its industry-specific approach, IFS’s focused strategy often leads to higher implementation success rates, making it a solid choice for businesses within its target sectors.
6. SAP S/4HANA
SAP S/4HANA ranks 6th this year, down from its previous 4th position. Despite this drop, it remains the 4th most frequently chosen ERP system among our global clients. SAP S/4HANA is a powerful and versatile product, well-suited for Fortune 500 companies and large global organizations. However, this strength is tempered by certain challenges as SAP transitions from its traditional on-premises solutions, like ECC and R3, to the cloud-based S/4HANA.
One of the key reasons for SAP S/4HANA’s decline in our rankings is the mixed results seen in recent implementations. Many clients have faced difficulties during the transition, with some even canceling their S/4HANA projects due to significant concerns about the product and the implementation process. These challenges have contributed to a number of implementation failures in recent years, making it a less favorable choice for some organizations.
Despite these issues, SAP S/4HANA remains a strong and widely adopted product in the ERP market. Its robust capabilities ensure it continues to hold a significant place, securing the 6th position in our ranking this year.
5. Epicor
Epicor claims the 5th position in our top 10 this year as a new entrant. The company oversees several ERP systems, including Vantage, Prophet 21, and others, each designed for specific industries such as manufacturing, distribution, and retail. This specialization has earned Epicor the 5th spot among the most frequently chosen ERP systems in our client base, marking its debut in the top 10.
Epicor’s rise in the rankings is a result of significant progress following past challenges. Previously, the company faced issues with troubled implementations and reductions within its Professional Services Group, as well as a downsized network of implementation partners. However, recent improvements have been notable. Epicor has recently formed a new leadership team made up of experienced industry professionals, signaling a positive shift in its trajectory.
These developments, combined with favorable outcomes observed among our clients, have contributed to Epicor’s strong position at number 5 in our ranking this year.
4. Workday
Ranked 4th on our list, Workday has reemerged as a top contender after not being featured in the top 10 last year. This previous omission was due to limitations in core ERP functionalities. Historically known for its strengths in financials and human capital management (HCM), Workday has significantly expanded its ERP capabilities with recent investments in Supply Chain management.
Workday’s return to the top 10 can be attributed to its increasing adoption and growing presence in the marketplace. The company is gaining momentum both in sales and in overall market traction. Despite encountering typical implementation challenges, Workday is building a strong record of successful implementations.
It’s important to shift the perception of Workday from being solely an HR or financial system to recognizing it as a full-fledged ERP solution. This broader view reflects its enhanced capabilities and growing influence in the ERP space.
3. Infor
Infor CloudSuite has risen to the 3rd position this year, up from 6th place last year. It is also the 3rd most frequently chosen system among our Third Stage clients. This notable advancement is primarily due to its growing selection rate and the increased stability and traction of the CloudSuite solution. Previously, Infor faced challenges with M3, Syteline, and other legacy systems. However, recent developments have clarified the roadmap for CloudSuite, providing a clear direction for both individual products and the overall platform.
The improvements from Infor’s investment in CloudSuite are becoming evident, showing significant progress. Despite this, there are still some issues to address, including the occasional need for a mix of solutions to meet diverse client requirements. Nevertheless, Infor’s advancements have set it apart from many alternatives in the market, offering a more comprehensive product.
These factors contribute to Infor securing the 3rd spot on our list this year.
2. Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP has climbed to the 2nd position this year, improving from its 3rd place last year. This advancement highlights Oracle’s growing proficiency and attractiveness, with the software also ranking as the 6th most selected system among Third Stage’s global clients.
Oracle’s rise in our rankings reflects its flexible solution designed specifically for large organizations and multinational corporations. The product is robust and supports a wide range of functionalities. Its flexibility surpasses that of competitors like SAP S/4HANA, contributing to its higher position.
Additionally, Oracle Fusion Cloud ERP has shown better implementation outcomes compared to some of its rivals. While challenges and occasional failures do occur, Oracle’s system generally has a lower failure rate than SAP. Its open architecture further enhances compatibility with various systems and solutions, making it a versatile choice for organizations.
1. Microsoft Dynamics 365
Microsoft Dynamics 365 Finance and Operations (F&O) retains the top spot this year, continuing its success from last year. The continued dominance of Dynamics 365 is largely due to its broad appeal across various customer segments. Microsoft targets mid-market and larger organizations, positioning Dynamics 365 between the solutions offered by SAP/Oracle for larger enterprises and Netsuite/Odoo for smaller companies. This strategic positioning allows Dynamics 365 to effectively scale while still being suitable for small to mid-sized businesses seeking robust technology solutions.
Dynamics 365’s top ranking is also reinforced by its status as the most frequently chosen software among our clients. The system’s flexibility, a user interface that mirrors Microsoft’s familiar design, and its open architecture for easy integration with third-party solutions contribute to its popularity and high adoption rates.
However, there are some drawbacks to consider. One significant issue is the value-added reseller (VAR) ecosystem. Microsoft does not control this diverse network, leading to varying levels of quality among implementation partners. Therefore, selecting a reliable implementation partner is crucial.
While Microsoft Dynamics 365 is our top-ranked system, several other solutions deserve honorable mention. Ultimate Kronos Group (UKG), a merger of Ultimate Software and Kronos, excels in HR and workforce management. Palantir offers a robust workflow management platform, and ServiceNow is often regarded as a pseudo-ERP for service-based organizations. Snowflake stands out as a powerful business intelligence tool, while Sage X3 and Acumatica, both former top 10 contenders, continue to be strong choices.
