Many of the services people use are delivered over the internet, which has caused a new business model to emerge, known as software-as-a-service (SaaS). Similarly, the rise of enterprise resource planning (ERP) software is something no business can ignore. What is SaaS ERP, what does it mean and what are some of the best SaaS ERP solutions out there?
An Overview of Software-as-a-Service (SaaS)
Software-as-a-Service (SaaS) is a software licensing and delivery model that allows users to access application software in the cloud through an ongoing subscription, often monthly or annually. Various cloud providers offer SaaS solutions, some notable ones including Amazon Web Services (AWS), Oracle, Salesforce and Adobe Creative Cloud.
SaaS is becoming increasingly popular for businesses. It’s considered one of three types of cloud computing. The other two are platform-as-a-service (PaaS) and infrastructure-as-a-service (IaaS), which can help businesses in other ways.
SaaS products can range from simple entertainment apps like Netflix to more advanced IT solutions. According to Fortune Business Insights, the SaaS market will reach over $883 billion by 2029.
One reason why the SaaS market will grow is because of the number of businesses transitioning to a cloud-based infrastructure. The cloud is growing at a rapid pace, and because it offers several business benefits, it’s a no-brainer for companies to transition from on-premise computing to cloud computing.
What is Enterprise Resource Planning (ERP)?
Enterprise resource planning (ERP) is an essential type of software that companies use to manage all aspects of their business. It handles automation and processes in the financial, human resources (HR), supply chain, products and services, procurement and manufacturing departments of an enterprise.
Organizations need to use ERP platforms if they want their business to run smoothly. Often, ERP solutions combine all of the core components of a business into one single platform for ease of use.
Many ERP solutions are cloud-based, which also categorizes them under SaaS. However, some companies choose to use on-premise ERP solutions, meaning that these platforms are held on a company’s internal servers and infrastructure.
3 Best SaaS ERP Solutions for 2023
There are hundreds of SaaS ERP solutions available for companies to use, and many of them are customizable to fit the unique needs of the business. Below are some examples of the X best SaaS ERP solutions on the market for 2023.
1. Oracle NetSuite
The Oracle NetSuite ERP offers several benefits to businesses with its robust features. With Oracle’s solution, you can automate manual processes, access real-time data across your organization, balance supply and demand and plan and manage inventory.
More than 33,000 businesses use NetSuite, the all-in-one solution for small, medium and large enterprises.
2. Microsoft Dynamics 365
Microsoft defines its Dynamics 365 solution as a diverse portfolio of intelligent business applications. It can help businesses drive efficiency, keep costs down and reduce complexity in their systems.
Some top customers using Microsoft Dynamics 365 include Coca-Cola, Lowe’s, Chevron and BMW. The applications in Microsoft Dynamics 365 are meant to work with companies’ existing systems, not against. Additionally, businesses can choose to use all or some of the solutions from the platform.
3. Sage X3
Finally, the third recommendation for SaaS ERP is Sage X3. The platform is ushering in the new era of ERP solutions, giving businesses flexibility, insights and greater efficiency.
Organizations benefit from supply chain, financial and production management capabilities and the solution has a compatible mobile application for workers on the go. Companies in industries such as food and beverage, manufacturing, distribution, chemicals, services and more can benefit from Sage X3’s ERP.
Implement a SaaS ERP Solution for Your Business
The SaaS ERP market will continue on its path of growth as more businesses realize the benefits of these software solutions.
The business landscape is becoming more digitally driven than ever before, meaning it’s up to business leaders and their teams to adopt and implement the latest technologies and tools to level the playing field. If you own or manage a company, consider using a SaaS ERP solution to fit the changing — but important — needs of your business.
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