How Much Does ERP Software Cost in 2024? Comparison of Pricing Plans - Financesonline.com (2024)

Shopping for enterprise resource planning software (ERP) is no easy task, especially if you have no idea how much you should spend on such tools. What’s more, platform vendors are not helping either, keeping their pricing plans to themselves. These complications can lead to purchasing consequences from unmet business requirements and, worse, losses from hidden costs of some ERP tools.

In this article, we’ve compiled different ERP software aimed at different segments and their pricing details. In this way, you can have an idea of how ERP solutions cost and even help you find the right one with the best price. Don’t worry, though, ERP pricing comes in various ways and sizes. Some are subscription-based while others are offered via a one-time payment. If you’re on the hunt for the ideal system, you’ll be sure to find one that fits your preferences here in this article or on our site.

Recent ERP statistics show that ERP software solutions are most popular in the manufacturing industry. The industry accounts for 33.66% of ERP enterprise users. The IT industry comes in as a far second accounting for only 14.85%. The financial services industry comes in at third with a share of 13.86%. These three make up 62.4% of the worldwide market which is growing at a 0.7% YoY pace.

Given that these industries make up most of the user base, ERP solutions tend to be designed to fit their specialized needs. And, a high degree of specialization generally entails a high degree of customization work. Highly-customized products generally require a great amount of effort. Thus, specialized platforms tend to be priced higher.

For faster deployment, one good tip for choosing the right ERP platform is to look for those that are designed specifically for your industry. As it is, generic platforms might not be the best fit. However, they can be very flexible. You can design how they are best implemented in your organization, regardless of what industry you are in. The downside, of course, is that this calls for more effort on your part. Thus, many generic ERP solutions are priced lower than specialized ones.

This is just a broad generalization, however. In practice, there are other factors at play affecting ERP software pricing. Here they are in the next section.

Factors That Influence ERP Pricing

In purchasing an ERP system, vendor-buyer negotiations could take a long time, depending on business size and needs. Here, we discuss the factors that influence the final pricing of ERP software.

Tool Customization and Users

The number of people that will use the system and tool requirements is usually dictated by business size. Fewer user licenses are needed for small to medium-size businesses who also typically do not need high-end, superfluous tools that come with enterprise-grade ERP solutions. Customization is known to increase the price of an ERP tool, specifically for those who have specialized processes.

Deployment

There are two types of ERP software deployment models–on-premise and cloud-based. Although cloud-based systems are known for their low prices, subscription fees for such tools can increase by up to 30% in a year compared to their on-premise counterparts, which are offered on a one-time payment basis for a perpetual license. Also, extra costs could come in the form of maintenance and support, depending on the vendor.

Company Budget

For large organizations, investing in an ERP solution can be a straightforward decision, many of whom have come to realize why ERP software is useful to their business, and are, therefore, inclined to invest in on-premise tools. And this is not the case with small- to medium-size businesses, who are known to prefer cloud-based solutions owing to their inexpensive pricing. This is also the reason why vendors of such systems offer competitive pricing, apart from the fact that subscription licenses are constantly adding to company overheads.

Cost of Implementation

An equally important factor to consider is the cost of implementing an ERP system. Implementation includes processes like project planning and organization, installation, training, and system configuration, among others. Depending on your vendor or customization needs, implementation costs may vary. However, these may be reduced if you opt to use some of your IT people to help in the implementation process.

Maintenance

This is specifically for those who are planning to invest in an on-premise ERP solution, which requires regular maintenance. These costs include networking fees, IT personnel expenses, and additional hardware.

Training

Any business using an ERP system for the first time should have their staff trained in using the system, and such may take time with a learning curve and all. Training costs do not simply involve one-time payments, more often than not, continuing training is required to ensure proper use of a system. However, many vendors offer training resources for free to help users improve their ERP skills.

How Much Does ERP Software Cost?

So, how much does ERP Software Cost? As mentioned earlier, ERP implementation costs largely depend on a number of factors. However, to provide a simple answer, we have come up with a short guide on how much you should spend on an ERP system, using business size categories as a pricing basis.

Cost of ERP Software for Small Businesses

For small businesses with up to 75 employees and turnovers of up to $80 million, low-end ERP solutions are typically enough to cover all processes. The prices of these tools may range from $25,000 to $100,000 depending on factors such as customizations, industry requirements, and the number of users.

Examples of ERP Software for Small Businesses

1. NetSuite ERP

As a fast-growing small business, NetSuite ERP provides you with a total ERP solution that’s both cost-effective and agile. Its main advantage over an entry-level software solution is that NetSuite future-proofs your organization. This means that as you grow, so will the system. It has an architecture built from a solid core that provides you with tools for managing finance, inventory, billing, and other aspects of your business.

Whenever you need to scale up or down, NetSuite easily lets you do so. Modules and add-ons can be easily added or removed accordingly. The number of users can be flexibly adjusted if needed as well.

Pricing by quote. The vendor’s pricing for NetSuite ERP will depend on your company’s specifications and needs. You’ll be billed based on the number of users, modules, and add-ons you avail. This kind of control will make it easier to custom-build an ERP software that fits your budget.

2. Wrike

Wrike is a cloud-based service that makes it easier for people who are working in the same physical space or in locations to work together. With this service, tasks and their statuses can be planned, prioritized, and tracked in real time. As well, you can discuss task details with your teams in real time.

Wrike gives you a three-pane view of a project. The project hierarchy is shown on the left panel, which lets you move between levels and work on smaller tasks. The project tasks are in the middle pane, and the details are on the right. With this view, it’s easy to keep track of what collaborators are doing. You can also @mention them to bring something to their attention.

Pricing by features. While Wrike offers a free plan; the three paid plans’ prices are based on the set of features. For every user per month, you pay $9.80 for the Professional Plan, $24.80 for the Business Plan, and $45 for Enterprise Plan. For the Pinnacle Plan, which offers advanced tools and analytics for teams of five to over a thousand, contact the vendor.

3. Scoro

Cloud-based business management solution Scoro is highly-suited to SMBs, especially those in the IT, consulting, and advertising sectors. It has a wide array of features that include work scheduling and tracking, collaboration, customer relations, and project management, and reporting. It is easy to use as it gets rid of the need to use different solutions for different tasks.

A major feature is a control hub, which displays account information, tasks, performance data, and other pertinent business aspects. If you are interested to learn more about Scoro, you can check out our full product review.

Pricing based on feature set.The software is priced based on individual plan features. It can be purchased in three pricing models. Its Plus package comes for $22/user per month. A premium package is being sold for $33/user per month, and the Ultimate plan is priced at $55/user per month.

4. Odoo

Cloud-based ERP platform Odoo is a combination of sales and project tools, housed in a single product. This is further complemented by functionalities such as POS, MRP, and ecommerce, helping companies handle all aspects of their operations.

Its inventory management feature combines with its sales channel integrations, making sure that sales and inventory are always on the same page. However, what makes the software a powerful one is that users can avail of around 300 new applications per month.

If you want to learn more about the product, you can check out our dedicated review page.

Pricing by module.Odoo is being sold on a per-module basis at $12/user per month. What’s great is you get to customize your own plan by adding more apps of your choosing as the need arises.

5. Sage Intacct

Robust ERP solution Sage Intacct combines Sage and Intacct, bringing to the table all the capabilities of both companies. It essentially provides finance and accounting with all the benefits of cloud computing. The system is designed to boost corporate performance and financial productivity.

Key functionalities include cash management, accounting, purchasing, financial consolidation, subscription billing, contract and vendor management, and financial reporting. If you want to learn more about the software, you can check out our detailed review page.

Pricing by quote.Although Sage Intacct pricing comes by quote, packages for small businesses start at only $400/month.

Cost of ERP Software for Enterprise

Large companies require enterprise-grade ERP solutions. In shopping for such a tool, businesses with more than 501 employees and turnovers of above $250 million should be ready to dole out more than $1 million when purchasing such a system.

Examples of ERP Software for Growing SMBs/Medium-Size Businesses

1. NetSuite ERP

Aside from small businesses, total ERP solution Netsuite ERP is designed for growing, mid-size organizations and enterprises. It is capable of automating just about any process there is, including revenue, order, inventory and financial management, fixed assets, and billing.

These functionalities enable the system to provide the whole organization with visibility into key performance reports and indicators. The platform combines financial management and business intelligence, allowing users to make sound business decisions.

If you want to explore and learn more about the software’s comprehensive features, simply sign up for a NetSuite ERP free demo.

Order-to-cash processes are likewise accelerated with sales and fulfillment tied to pricing policies. This, plus many features and benefits, make it the perfect ERP software product for large enterprises.

Pricing based on per user, modules, add-ons.NetSuite ERP’s pricing models come by quote. You have to directly contact the vendor to get pricing information. Enterprise plans, on the other hand, are priced based on the number of users per month, modules, and add-ons.

2. SYSPRO

A robust ERP software, SYSPRO is designed to help growing manufacturing firms to integrate, synchronize, and control their processes. Deployed via cloud or on-premise, the tool comes in multiple modules that showcase features that do not only focus on manufacturing but other company processes as well. The software effectively manages costs by minimizing losses from manual and repetitive processes and paperwork. It also automates warehousing through distribution management.

Aside from these, accounting, financial, operational, and manufacturing management capabilities are also present. If you are interested, you can always take a look at our more in-depth review.

Pricing by quote.Syspro’s pricing depends on the number of users, software deployment, and customer requirements.

3. Brightpearl

A multi-channel management platform, Brightpearl is highly-recommended for retailers as it is useful for managing orders, accounting, customer information, and inventory, all from a single console. Its real-time reporting capabilities provide users with a view of customer purchasing behavior, cash flow, and profitability by SKU and channel, to name a few.

It has a number of popular integrations, including Shopify, Bigcommerce, Magento, and online marketing platforms like Amazon and eBay. To learn more about the product, you can check out our detailed Brightpearl review.

Pricing by quote.Brightpearl’s pricing plans are not available on the vendor’s website. You have to contact the company to request a customized quote.

4. Oracle ERP

An end-to-end business management platform for any organization size and type, Oracle ERP is a cloud-based solution that observes best practices and industry standards in streamlining any business process. It is simple but highly-scalable and can automate processes like reporting, compliance, planning and procurement, risk management, and product lifecycle, to name a few.

This fully integrated ERP solution comes with a host of applications that can boost productivity, lower costs, and improve control over entire business operations. You can check out our detailed Oracle ERP review for more details.

Pricing based on feature set.Oracle ERP Cloud can be purchased in three pricing plans, which are based on product features. A Financial Reporting plan comes for $175/month. Its Advanced Financial Controls plan for $80/user per month, while an Advance Access Control package is priced at $150/user per month. You can also contact the vendor for more pricing information.

5. SAP Business One

SAP actually provides an ERP that scales across business sizes, starting with the SAP Business One. For enterprises, you have SAP S/4HANA designed for businesses with global reach across practically all industries. It can be deployed via cloud, private cloud, or on-premise, and offers companies total control over their organizations.

This intelligent ERP platform is designed for in-memory computing, providing users with value across all business lines. Key features include predictive analytics, better automation, agility, and efficiency through machine learning and headquarters and subsidiaries integration. To learn more about the product, you can check out our SAP Business One review page.

Pricing by deployment. The company does not publicly disclose its prices. You have to visit the vendor’s website to get a quote. The type of deployment will dictate your plan.

6. Effitrac ERP

Effitrac ERP centralizes all core operations from within a single platform and leverages powerful automation tools to accelerate one’s workflows and processes. Built for small- and medium-sized enterprises, this ERP solution helps users easily stay on top of their accounting, inventory, production orders, inter and intradepartmental communications, human capital planning, customer management, and others. At a glance, you can see all the essential data in real-time and make appropriate adjustments to satisfy customer demand.

Effitrac ERP also delivers precise, custom reports that are always updated to provide you with reliable figures. It features an offline mode as well, so you can take charge of your business operations at all times and reliably sync information upon reconnecting to the internet.

Pricing by quote.Contact the vendor to get a custom quote.

The Costs of ERP Software And Not Having One

We have shown and discussed the price of different ERP software solutions targeted at SMBs and enterprise-level companies. Of course, these prices vary from solution to solution and from specialty to specialty. Others are based on personalized quotations. Some are priced using a tiered-scheme of feature sets, among other schemes.

However, you may know that the cost of having an ERP software is not really a cost or an expense. It is an investment. An ERP implementation has been found to be able to reduce by 36% the time it takes to make critical decisions. Thus, it is not so surprising to find out that 96% of businesses that rely on ERP excel in their respective industries.

The true cost of not having an ERP software is missing out on its well-documented benefits. That means if you are not using an ERP platform, you are likely taking 36% more time to make critical business decisions than your ERP software-using counterparts. And, you very likely count your business out of the top 96% of businesses that excel in their industries. Also, if you don’t have ERP software yet, you better act faster. Many laggard firms are adopting ERP tech too, to try and play catch up to the best companies out there.

However, the next step wouldn’t be just going over the price but also researching and even trying the features first hand. And one good place to continue your software hunting is here in ourtop 20 ERP software guide.