ERP systems are important for professional services firms because they provide a variety of functionalities that simplify operations. They simplify business processes by automating time-consuming tasks, tracking project deadlines, and integrating business silos. Accounting and financial reporting, centralized document management, client and contractor management, and others such as customer and vendor management portals, mobile device compatibility, CRM and sales, project and task management, applicant tracking systems, inventory management, custom productivity reporting, intra-company communication, and knowledgeable, in-house customer support are all important features to look for in an ERP.
11 Best ERPs for the Professional Services Industry
1. Microsoft Dynamics 365:
As part of the Microsoft Dynamics 365 suite, Project Service Automation (PSA) caters to the needs of professional services firms. It seamlessly integrates with other Microsoft applications, providing a familiar environment for users. Microsoft’s ERP solution includes project planning, resource management, and financials to enhance overall project delivery.
2. Oracle NetSuite:
Oracle NetSuite is a cloud-based ERP solution that focuses on professional services automation. It includes project management, resource allocation, and time tracking features. Its seamless integration with other NetSuite modules ensures a unified approach to project delivery, financial management, and client relationship management.
3. Infor:
Infor CloudSuite PSA is a cloud-based ERP solution that combines project management, resource planning, and financial tools. It is designed to enhance project delivery, optimize resource allocation, and provide visibility into project performance. Infor’s industry-specific approach makes it suitable for professional services firms with unique requirements.
4. NetSuite:
NetSuite stands out as a comprehensive cloud-based ERP solution that caters to the diverse needs of professional services firms. From project management and resource allocation to financials and client relationship management (CRM), NetSuite provides an integrated platform. Its real-time analytics empower businesses to make informed decisions, while its scalability ensures flexibility to accommodate growth.
5. Epicor ERP:
Epicor ERP caters to the needs of professional services firms with its project management and financial modules. It provides real-time insights into project costs, resource utilization, and overall project profitability. Epicor’s focus on industry-specific requirements ensures that professional services organizations can tailor the ERP solution to meet their unique needs.
6. SAP Business ByDesign:
SAP Business ByDesign is an ERP solution suitable for mid-sized professional services firms. It offers comprehensive functionalities, including project management, financials, and procurement. SAP’s cloud-based approach ensures accessibility and scalability, making it an ideal choice for businesses seeking an integrated and scalable ERP solution.
7. Workday Professional Services Automation (PSA):
Workday PSA is a cloud-based ERP solution that focuses on resource optimization and project management. It offers real-time visibility into project status, team performance, and financials. With Workday PSA, professional services firms can efficiently allocate resources, track project milestones, and ensure timely project delivery.
8. Odoo
Odoo’s suite of integrated apps focuses on CRM and ERP functionalities suitable for various industries. It supports POS transactions, employee timesheet tracking, and custom invoice development. Odoo is unique for its open-source model, ideal for tech-savvy users who prefer to make their modifications.
9. Bitrix24
Bitrix24 ensures timely and accurate project and task delivery through seamless communication. Its socially-focused interface for collaboration, website builder in some packages, and automatic ROI calculation set it apart. Bitrix24 allows users to customize the system to their brand.
10. Smartsheet
Smartsheet, a business intelligence platform, emphasizes collaboration and workflows. It includes strategic event management interfaces, Salesforce integration for data collaboration, and a “gain manager approval” function. Smartsheet stands out for enabling seamless collaboration among team members in various roles without major workflow interruptions.
11. Striven
Striven combines accounting, CRM, project management, HR, and operations into a user-friendly interface. It’s adaptable for industries like professional services, manufacturing, construction, and real estate. Its features include communication portals, project and task management with interactive calendars, a full CRM dashboard, applicant tracking, inventory management, customizable employee dashboards, and employee biographies for remote culture building. What sets it apart is Striven’s team of business analysts offering personalized support and efficient automation capabilities.
So, selecting the right ERP for your service business is critical. These top 11 ERP solutions offer varied features catering to different needs, ensuring that businesses in the professional services industry can find a system that aligns with their specific requirements.
