Top 11 ERP Systems for Businesses in Canada | 2024

Are you searching for top ERP systems that can streamline and centralize your business? If so, you have come to the right place.

ERP systems can help businesses connect different departments, which include HR, supply chain, finance, customer service, sales, and other departments as well. It can improve collaboration among your teams, facilitate better analytics, enhance productivity, boost customer satisfaction, and optimize inventory monitoring. Such ERP features are vital for your business because they lead you to make data-driven decisions and improve business efficiency.

As per the current scenario, the ERP software market is expected to be worth 40.5 billion USD by 2025.

However, choosing the best systems for your business might be overwhelming, as the ideal solution varies from one business to another. Our team of researchers and ERP consultant has analyzed numerous systems and curated a list of the 11 top ERP system examples for different businesses.

Top ERP Systems for All Businesses

Each ERP comes with distinctive features, and choosing one from them depends on your business requirements. We will compare these ERP systems on numerous factors, such as industry-specific solutions, deployment options, pricing, ease of use, advance reporting, ROI, and total cost of ownership. Let us jump to learn about ERP system examples in detail:

1. Dynamics 365 Business Central

Business Central is one of the top ERP systems in Canada for SMBs, with Dynamics 365 capturing 24.62% market. This allows businesses to streamline and automate their business operations with its highly adaptable and rich features.

It empowers businesses to manage their finances, sales, manufacturing, projects, services, and supply chain. These comprehensive features allow businesses to adapt tailor-made solutions according to their needs.

Additionally, Business Central is embedded with modern technologies that include AI, BI, and ML to offer various business-centric features. D365 BC is embedded with Copilot, which allows you to communicate through chats and resolve user queries in no time. You just need to open chat and add a prompt for any help.

2. Oracle Cloud ERP

Oracle Cloud ERP offers advanced capabilities to businesses. It comes with AI capabilities that help businesses automate their manual processes, improving agility.

Oracle Cloud ERP can be complex to implement, requiring a specialized team for smooth deployment. Some users also face steep learning curves and vendor dependence.

Moreover, Oracle Cloud ERP might not facilitate some features, such as JSON data population, extended data types, and data-bound collation.

3. Odoo

Odoo is a suite of open-source business management software tools that integrates many business applications into a single platform. It provides two licenses to users, consisting of Odoo Community and Odoo Enterprise. Furthermore, it also provides on-premises ERP solutions for businesses.

Odoo offers a freemium license option. The Odoo Community version is free for users; however, it comes with limited functionality. One needs to pay to get additional features.

Odoo ERP is difficult to customize and requires expert skills, resulting in increased implementation costs. Businesses require professional expertise to fulfill their customization requirements.

Additionally, it regularly releases updates, and businesses need to stay updated to ensure security and access to the latest features.

4. Microsoft Dynamics 365 Finance and Operations

Finance and Operations is among the top ERP systems in Canada offering solutions to simplify the complex business processes of large enterprises. For example, you can manage your finances and supply chain to meet your business's evolving needs. The aim is to provide financial and operational visibility to organizations.

Dynamics 365 Operation and Finance allows users to actively monitor their cash flow, identify future trends, reduce write-offs, order management, pricing, warehouse management and fulfillment, asset management & maintenance, and improve margins.

This allows you to make informed decisions with D365's AI-powered predictions. Businesses automate operations, scale globally, drive growth, and reduce expenses through in-depth details. Moreover, businesses can streamline procurement and sourcing with the help of in-built Copilot.

5. SAP Business One

SAP Business One is one of the top ERP systems that offers comprehensive solutions for businesses to manage their finances, sales, inventory, customer relationships, reporting, and analytics.

These solutions help you get complete control over your business, driving profitability and business growth. Businesses can streamline their business processes and get data-driven insights.

Moreover, SAP Business One has limited integration capabilities, as it can only integrate with SAP HANA. It isn’t natively web-based, so businesses must host their systems privately. Business One lacks multi-entity management and does not provide automatic upgrades.

6. Epicor

Epicor ERP focuses on manufacturers, retailers, building supplies, and distributors. It offers tailored solutions for manufacturing and distribution processes. It is one of the top ERP systems in Canada among mid-sized businesses.

However, Epicor ERP lacks functional alignment, system integration challenges, complex reporting features, a difficult interface, and limited web and mobile capability. This system can be challenging to integrate with finance and HR. Organizations might seek help from vendors to fulfill their unique needs.

7. SAP S/4HANA

SAP S/4HANA is built on the SAP HANA in-memory database platform, offering a powerful and scalable solution. This system is a suitable option for large corporations looking to simplify their complex financial needs.

However, this system can be costly and demands IT expertise for implementation. Small business users might not find this solution user-friendly. SAP S/4HANA isn’t compatible with third-party databases, so converting to SAP S/4HANA can be challenging. Users face a steep learning curve due to its complicated UI.

8. Xero

It is a cloud-based ERP accounting solution specially designed for small and medium-sized businesses. Xero can help you simplify your financial management with its core accounting functionalities. This solution is easy to use and affordable. Businesses can also integrate with other systems with Xero to fulfill their intended functionality.

Furthermore, Xero has limited ERP functionality, which is not suitable for complex business processes. It has limited customization options, project management, and delivery capabilities. Users require additional tools or software to fulfill their needs.

9. Infor CloudSuite

Infor CloudSuite also comes with basic ERP functionality, like any other ERP system examples. It offers customized solutions for specific requirements. However, implementation complexity and pricing vary depending on user requirements.

Various users say that the Infor CloudSuite user interface has an outdated look compared to our list of top ERP systems. It has limited integration capabilities, which might make it difficult to fulfill your needs.

10. Acumatica

It is a user-friendly ERP solution that can be used in various industries, such as construction, distribution, and manufacturing. Acumatica facilitates various functionalities, such as inventory management, sales order management, procurements, financial data, and warehouse management. Furthermore, users can also access Acumatica using various devices.

However, its price is not publicly available, making it difficult for businesses to estimate the licensing cost. It might not suit industries like healthcare and education. Additionally, its extensive customization options might be challenging for businesses.

11. Intuit QuickBooks

It is one of the popular accounting software programs that comes with basic accounting features such as invoicing, expense tracking, and payroll. We have placed this solution in our list of top ERP systems because it is very affordable to use. However, it comes with limited functionality. 

Organizations can’t access custom reports, leading to less transparency in your business's health. This solution is only limited to accounting and not suitable for large organizations. Hence, businesses require it to integrate with other software, like Dynamics 365 to unify their operations. 

Choose the Perfect Solution with Dynamics Square

In this article, we have gone through a list of the top ERP systems and analyzed different aspects in detail. However, you need to choose one from the list that matches your business requirements.

In such a scenario, our team of experts can help you choose the perfect solution for your business, offering the intended results.

We, Dynamic Square, are a renowned name in the ERP market that is helping businesses grow with the right ERP implementation in Ontario and nearby areas. With decades of experience and being a reliable Dynamics 365 partner in Canada, we are ready to take your business to the next level.

In case of need, reach out to our certified Dynamics 365 consultant at info@dynamicssquare.ca or call us directly at +1 778 381 5388 to get instant support.

Frequently Asked Questions 

1. What is the most widely used ERP system?

Microsoft Dynamics is the widely used system globally, including Canada with 24.62% of market share, and known for its comprehensive suite of applications. The solutions help businesses to manage their core business processes, including finance, inventory, human resources, and supply chain management. Its versatility and scalability make it a popular choice across various industries.

2. Which ERP is most used in Canada? 

Microsoft Dynamics 365 is one of the most widely used ERP systems in Canada. From large enterprises to SMBs, Microsoft ERP is favored due to its extensive features. In addition to this, it also integrates with the Microsoft ecosystem and third-party solutions, tailoring to Canadian business needs.

3. Which ERP is most used in Canada?

Microsoft Dynamics 365 is among the most widely used ERP systems in Canada with 24.62%, while the second ERP system has a market share of 14.41%. Microsoft Business Central also made their robust grip on the SMBs with 3.25%. Canadian businesses can tailor their needs

4. What is the best ERP tool?

The best ERP tool depends on the specific needs of the business. For large enterprises, Dynamics 365 Finance and Operation is considered one of the best solutions that comes with extensive features to simplify the complex business process. For SMBs, Dynamics 365 Business Central can be a good option because it offers all-in-one solutions in a single place.

5. What is the fastest-growing ERP system in the world?

Microsoft Dynamics 365 is currently one of the fastest-growing ERP systems globally. Its rapid adoption is driven by its integration with other Microsoft products, cloud-based flexibility, and ability to cater to businesses of all sizes. The platform's continuous innovation and strong support network also contribute to its accelerating growth.