Open Source ERP tools not only help companies save costs but are also pivotal for executing various functions. Further, this software uses a process-oriented technique to incorporate systems. Moreover, multiple departments of the organization use these systems to monitor and collect the flow of information.
Open Source ERP tools also make it easier to compile and manage business processes. As a result, 50% of companies opted to execute ERP systems according to a 2019 review. Therefore there is a significant rise in the ERP software market as businesses recognize its potential. According to Fortune Business Insights, the market for ERP software could reach $71.63 billion by 2026 with a CAGR of 8.66%.
Hence, in this article, we will discuss the various open source ERP Tools and learn more about the technological concept.
Understanding Open Source ERP Tools
Open Source ERP tools help provide businesses complete visibility across various departments. Further, the tools help the senior management to monitor business operations and their data.
Moreover, ERP systems integrate and streamline various business processes to improve efficiency and enhance productivity. Although, investing in a robust ERP system could be expensive for businesses. Hence, businesses often opt for open source ERP tools that are comparatively cost-effective and easy to customize.
The business also opts for open source ERP Tools as it offers high flexibility, low maintenance cost, and a user-friendly interface. Start-ups and mid-size businesses see tremendous benefits in using open source ERP software.
It also helps businesses expand their horizons by offering comprehensive and economical solutions. Therefore, businesses utilize the open source code of ERP tools to customize it according to their requirements and this feature is free of cost.
Benefits of using Open Source ERP Tools:
- Firstly, it provides businesses the opportunities to easily modify systems while subsequently reducing the cost.
- Further, it is a simple system to comprehend and is adaptable to various business activities.
- Moreover, it incorporates various features and is not dependant on a particular vendor.
- It is also a simple system that is highly comprehensible. Hence, training employees become easier so they can help enhance their contribution.
- Most importantly, these tools are easier to update than the other commercial ERP systems.
It is important to understand that most of the open-source ERP tools available come under this category. Moreover, these systems can adapt to various processes and industries. Further, these systems have higher customization and integration features to offer.
Contradictory to Generalist ERP systems, a Vertical ERP system is built for specific industries. Moreover, these industries include construction, retail, supermarket, etc. Hence, a vertical ERP system uses advanced features to help businesses automate processes and infrastructures.
Small Business ERP:
Small business ERP systems refer to cloud or on-premise solutions. Moreover, as the name suggests, these systems help small businesses. Above all, it also comes with paired-down features to help businesses.
- Security: ERP systems incorporate the entire database of a business’s information. Hence, it is important that businesses choose a system that offers a high level of security features.
- Cost-Effective: Moreover, most open source ERP systems come free of cost to businesses. Therefore, it provides great advantages to businesses and is easily customized to various and expanding requirements.
- Customer Support: ERP software along with its various solutions must also offer features for great customer support for businesses. As a result, it can enhance customer onboarding and handling processes.
- Integrations and Modifications: Above all, open source ERP tools offer immense potential to integrate and modify processes.
There are many open source ERP tools available for businesses. Although, it is important that businesses learn about the top tools to work with their processes and objectives. Hence here are the top open source ERP tools and their key features:
Odoo is one of the more popular open source ERP tools that assist more than 4 million active users. Moreover, it is a Python-based solution that provides cross-platform accessibility features. It is also a free and open-source cloud solution.
Further, Odoo is a responsive solution as it provides users with easily accessible modules from any device. It provides various ERP applications that include HRM, CRM, Accounting, and Project Management.
- Firstly it provides solutions to improve user experience, sales, operations, and productivity.
- It also provides a robust CRM application to manage and strategize customer relationships.
- Moreover, it provides features like expense management, project management, help desks, and employee management.
What makes Dolibarr one of the top open source ERP tools is its end-to-end solutions for small and medium businesses. Further, it offers solutions for invoicing, payments, document management, contracts, etc.
Further, the solution was written in PHP and uses various databases like PostgreSQL, MariaDB, and MySQL. It also provides a multi-distribution model for on-premise and cloud infrastructures.
- Firstly, it offers an interactive and intuitive interface to help users take complete advantage of the solution.
- Moreover, it is a solution released un GPL3 which makes it flexible and reliable to execute various functions.
- It is also a web-based application that offers cross-platform features and provides a customizable and modular code.
ERPNext is another Python-based open source tool that integrates well with modern ERP requirements. Currently, the solution works with more than 5000 businesses worldwide.
It is also one of the best available solutions as it provides extreme agility to businesses from various industries and sizes. Moreover, it includes modules for inventory managers, accounting, HR payroll, project manager, and asset management.
- It helps businesses manage and control accounting books in real-time.
- It also provides a Tree View of accounting charts, helps with talent acquisition, customizes employee repository, etc.
- Moreover, it provides a complete view of the performances to monitor and manage KPIs.
The solution also advances its features for quality assurance, warranties, training, and planning. It also operates on various platforms including Linux, Windows, OS X, Android, and iOS platforms.
- It is a free and open source solution that is easily customizable as per the business requirements.
- It also provides high-quality results through integrated search.
- Moreover, it easily processes large data sets and updates them under the “Smart Fields” component for quick data entries.
Apache OFBiz offers a suite of applications for businesses that are easily adaptable and help businesses across industries. Moreover, it provides a simple infrastructure to help businesses easily modify the solution. It also aims to help medium to large businesses by offering multiple functionalities and support.
Apache calls the OFBiz one of its top-performing solutions in this decade. Further, since its inception, OFBiz provides high reliability and performance for users.
- Firstly, the solution is based on Java XML Freemarker Groovy. Hence, it can easily support website applications and their operating systems.
- It also performs well on multiple platforms and offers a common data model.
- Moreover, it supports a robust framework with essential solutions for SMEs, Agencies, Enterprises, etc.
Tryton is a unique ERP system aka TinyERP. What makes this solution unique is how it offers flexibility to businesses. Moreover, it is a solution that supports all businesses regardless of their sizes. It also offers various modules to help with various processes within the business. Moreover, it aims to offer businesses “modularity, scalability, and security”.
- Firstly, it works with a 3-tier model which includes Tryton Database, Tryton Server, and Tryton Client.
- It is a python-based solution that utilizes the GTK library for its users. It also provides a free demo, docker images, and pre-built binaries.
In conclusion, businesses must acquire open source ERP tools on the basis of their objectives, preferences, and budget. Especially, in the year 2021, where businesses require higher efficiency and productivity the best open source ERP tools can also help reduce cost.