Today, integrating ERP (Enterprise Resource Planning) has become a rite of passage in a modern organization’s journey to automate crucial business processes, from boosting and streamlining business operations to achieving competitive advantage in the markets of interest. And the probability is, if your organization runs its everyday business on a Magento-like eCommerce platform, an ERP integration will help you provide a competitive edge.
Presenting a one-stop solution to all your business needs, an ERP solution facilitates effective inventory management, seamless business operations, and a single source of truth for all your business data needs.
Magento ERP integrations work as an extension to your Magento (Adobe Commerce) account, often referred to as the first step towards automating your business processes. Hence, managing recurring business events that limit growth potential becomes easier to manage — improving the bottom line and making the business more sustainable.
Addressing the abovementioned, this article will wade through the following:
- A brief introduction to Magento (Adobe Commerce).
- Basics of ERP and its importance.
- Top 7 ERP solutions.
Let’s begin.
Table Of Contents
- What is Magento (Adobe Commerce)?
- What is ERP? How important is ERP for your business?
- Top Magento ERP Integrations for your business
- Conclusion
What is Magento (Adobe Commerce)?
Magento (Adobe Commerce) Platform
With the release of its first public beta on August 31, 2007, Magento officially launched. Proving the world right, Magento excelled in the eCommerce domain, also winning several awards. Over the years, Magento saw significant growth, not to exclude several ownership changes. Today, Magneto is owned by Adobe after it was acquired for $1.68 billion in May 2018.
Magento (Adobe Commerce) is now considered as one of the most trusted platforms, which according to Litextension’s 2020 survey, accounted for about 20.40% of the total market share. Proving itself to be the go-to-market solution for medium-to-large businesses, Magento (Adobe Commerce) proved its value by providing an omnichannel strategy that provides a seamless customer experience to increase sales while reducing costs and accelerating time to market.
Here are some exciting stats about Magento (Adobe Commerce):
- Merchants on Magento (Adobe Commerce) record 3x faster growth on average.
- 12% of all eCommerce sites are on Magento (Adobe Commerce).
- Magento (Adobe Commerce) has 25,000 active business clients.
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What Is ERP? How Important Is ERP For Your Business?
Enterprise Resource Planning (ERP)
ERP stands for Enterprise Resource Planning. Also known as the source of truth, where all the organization’s business-critical data resides, ERP binds together business processes that earlier worked in silos — from product planning and development to sales and marketing.
Designed for both small and large organizations, ERP streamlines operations that beget better margins and productivity. But the two most significant impacts that are visible after the deployment of an ERP system are in the form of standardizing business processes and catalyzing business innovation.
That said, the role of ERP in e-commerce is amicable. And, Magento ERP integrations help as sales and hidden eCommerce costs increase — like returns, damaged goods, or acts of god — that slowly wash away profit margins. Moreover, if data changes are done manually in an organization, it can lead to data entry and miscommunication errors, which can cost customer dissatisfaction. To mitigate order processing and inventory management risks, a holistic view of orders placed is vital.
Here are five reasons why a company should consider Magento ERP Integrations:
- Improved business performance,
- Enhanced collaboration,
- Improved efficiency,
- Risk reduction, and
- Stabilized profit margins and operations costs.
Top Magento ERP Integrations For Your Business
Let’s have a look at some of the best Magento ERP integrations to streamline your business processes, improve productivity, and increase margins.
- Oracle ERP Cloud: Oracle ERP Cloud, part of the Oracle E-Business Suite, is considered to be the best ERP application that can be integrated into Magento (Adobe Commerce). The Oracle ERP Cloud has around 31,500 active company accounts and is recommended for companies having 1000-5000 employees and over $1,000 million in annual revenue. Its key ERP features are: Project management, ERP analytics, Risk management and compliance, enterprise performance management, supply chain and manufacturing, procurement, and financials.
- Sage ERP: Based out of Newcastle, Sage ERP provides a real-time view of your company’s all key KPIs. Sage ERP delivers a single, cloud-agnostic solution for managing core business processes — like sales, inventory, customer service, and more. The platform currently holds 27,735 active company accounts and is recommended for businesses with 1000-5000 employees and $10M-50M in annual revenue. Its key features include: Mobile access, purchasing and supplier management, multi-currency and bank feed, BI and reporting, sales, marketing, customer service, accounting and financing, and inventory and warehouse management.
- Microsoft Dynamics 365 Business Central: Suited best for SMB (small to medium business) market segment, Microsoft Dynamics 356 Business Central is a web-based, SaaS ERP solution. Its services facilitate both cloud-based and on-premise usage, due to which Microsoft Dynamics 356 Business Central has become one of the favorites with a total customer base of more than 110,000 companies. The ERP solution is best suited for businesses that have 50-200 employees with $1M-10M in annual revenue. Its key features include: Finance management, manufacturing project management, inventory management, service management, sales and delivery, sales and marketing, warehouse management, and much more.
- JD Edwards: JD Edwards, an Oracle division, provides comprehensive enterprise resource planning software. It’s a cloud-based ERP solution. JD Edwards ERP application has more than 17,158 active companies’ accounts. And, the ERP solution is best suited for companies having 50-200 employees and $10M-50M in annual revenue. The platform’s key features are: Financial management, human capital management, project management, manufacturing management, and asset lifecycle management (ALM).
- SAP Business One: The name itself justifies the cause, SAP Business One is the one-stop solution for today’s businesses, looking for an affordable solution to manage teams like accounting and financials, purchasing, inventory, sales and customer relationships, and intelligent analysis with BI tools. It’s a cloud-based solution with more than 60,000 active business accounts. The ERP solution is suited best for companies having 10-200 employees and $1M-50M in annual revenue. Its key features are: Accounting, tracking and visibility, human resource management, financial management, purchasing, customer relationship management, monitoring and reporting, and inventory production functionality.
- NetSuite ERP: With more than 27,000 business customers under its belt, NetSuite ERP is a cloud-based ERP solution, proven for its control and agility to build and run business seamlessly. The ERP solution helps streamline business processes, accelerate growth, and drive meritocracy. It’s best for companies having 10-50 employees and $1M-10M in annual revenue. The product’s key features are: Supply chain intelligence, flexible payment acceptance, incentive compensation management, integrated process workflow, and gross requirements inquiry.
- Epicor kinetic: Epicor Kinetic is a cloud-based, on-premises ERP solution. Its core areas of expertise are providing services that improve customer responsiveness, streamline processes, and reduce costs. The ERP solution is suited best for companies having 50-200 employees and $10M-50M in annual revenue. Its key features are: Sales management, quality management, inventory management, human resources, manufacturing management, financials, and much more.
Conclusion
To conclude, Magento ERP integrations boost company performance, align employees’ interests with that of the company’s. Providing a much-needed competitive advantage in today’s compelling business environment, ERP integration will put you ahead in the race — the reason we put together the list of top Magento ERP integrations today.
But, there are an endless number of integrations, and if your company has specific requirements, you can always consider Magento extension development services. Now with a new enterprise resource planning tool at your disposal for smoother enterprise-wide operations, you can start leveraging analytics tools to level up operations quality, too. To accomplish better operations quality your team requires a data pipeline tool to transfer data from your ERP tool to a business intelligence tool — that’s where Hevo comes in!
Hevo offers a faster way to move data from 100+ data sources such as SaaS applications or Databases into your Data Warehouse. Hevo is a fully automated no-code data pipeline service provider.
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Yash is a Content Marketing professinal with experience in data-driven marketing campaigns. He has expertise in strategic thinking, integrated marketing, and customer acquisition. She has driven growth for startups and established brands through comprehensive marketing communications, and digital strategies.