Financial Memos – The Accounting and Finance Community

All Businesses today, no matter how small or big they are operating electronically. Some of them are even their systems on the cloud. However, with so many options available, choosing what system your company will use is costly and time-consuming. We may be able to help with a comparison of the Top 5 open source ERP solutions available in the market. ERP systems, which means Enterprise Resource Planning, is a multi-billion dollar industry that has empowered many businesses to control almost every department and function in their company in a single software. ERP systems integrate all facets of a company's operation - from planning to purchasing, sales, inventory, managing its social media and many, many more, leading to increased productivity, efficiency, and of course, profit. At this point, it's worthwhile mentioning that open source ERPs or, in other words, ERP systems of which the source code is publicly available have started grabbing a substantial market share. The reason? They are free, at least free to try. Therefore, If you have a business or run a company, having an ERP system is something that you can't ignore. Different businesses have different needs, and as you continuously grow and develop, open-source ERP Solutions can be an option. Because the code is openly available, you can access and modify programs whenever you need to. You can extend the core functionality to fit your needs and customise the software as you wish. While the list below is not exhaustive, businesses worldwide use all five products - meaning testing has been pretty thorough. xTuple ERP Dubbed as the world's #1 open source ERP Solution, xTuple ERP is a business management software that gives you control over your entire operations and profitability. It runs on Windows, Mac, and Linux and provides access through mobile devices. It integrates all functions such as accounting, time and expense, sales, purchasing, manufacturing, inventory and distribution, into one modular system. Primary functions are part of the free version, but you can avail of its services for a certain fee. Opentaps One of the best open source ERP solutions for retailers, Opentaps provides a fully integrated ERP and CRM solution offering e-commerce, inventory management, and financial management to its users. It can also be accessed and used through mobile devices, making it a solid option for business owners and managers to continue making money even outside the office. Other available modules also allow you to track sales personnel to a unique commission management program. Big and small companies, from Fortune 500 businesses to startups, use Opentaps. They offer a complete edition for a fee and a downloadable free demo. Compiere Meaning "to complete" in Italian, Compiere is an open-source ERP solution dubbed the most affordable and adaptable ERP system today. Developed by Consona, Compiere was founded in 1999 and had its one-millionth download in 2006. It has a free of charge version, a limited community edition, and a complete enterprise edition for a certain fee. Used in over 40 countries worldwide, Compiere provides solutions to your business's warehousing, purchasing, manufacturing, and financial needs. Openbravo Openbravo is an award-winning ERP Solution that won the InfoWorld's Bossie Award for Best Open Source Application for three consecutive years since 2011. With over 6,000 organisations using Openbravo, many consider it one of the best products in the industry. It offers a broad range of modules such as finance and accounting, sales management, point of sales and business intelligence. Its simplicity and user-friendly functions will minimize the necessary training, which means fewer costs for your business. Offering a monthly or annual fee basis, Compiere also offers a free community edition. OpenERP One of the ERP Solutions advantages is the incredible number of modules for different functionalities that are available. Known and hailed for its elegance and simplicity, OpenERP can be downloaded for free for its 15 day trial period and $39 for a monthly subscription for its full services. With the monthly subscription, you get automatic updates and upgrades, hours of support, and a bug-fix guarantee. Making business operations so much easier, OpenERP integrates sales, point of sales, purchases, warehousing, accounting, messaging, social network, human resource management, recruitment process, employee directory, timesheet, event management, and so much more. One of the most difficult things is the vast amount of necessary paperwork if you have a business. It takes time and costs money. ERP Solutions will enable your company to get easy access to information anytime, record your transactions accurately and promptly. Further Reading We trust this comparison helps you decide whether an open source ERP solution is right for your business. We have additional reading that may be of interest, including our article that looks at the top issues when implementing an ERP system. Or our article looking at the top providers in their market. And finally, our article looking at the best options in open-source ERP solutions.

Blog

Tutorials

Questions

Recent Posts