Best ERP systems: A finance leader's guide to choosing the right platform

Published on June 11, 2025

There are a host of excellent tools for finance teams out on the market right now. The first challenge is choosing the right one. But where do you start? How do you know which one suits your company – and team – best? And once you have the right tools, how can you best optimise your finance tool stack?

These questions are tough to answer, so we turned to the experts. CFO Connect surveyed more than 150 finance leaders, asking them about their favourite finance tools and why they love them.

This article will cover one category of tools in particular: ERP systems. We’ll discuss what they are, who needs them, and the top five favourites as voted for by finance leaders.

What is ERP?

ERP stands for Enterprise Resource Planning. According to Microsoft (which has a much-beloved ERP system, which you’ll learn more about later): “Enterprise resource planning (ERP) is a type of software system that helps organisations automate and manage core business processes for optimal performance.”

But what does that mean, exactly?

SAP, another favourite ERP platform, defines ERP systems in simple terms: “Enterprise resource planning (ERP) is a software system that helps you run your entire business, supporting automation and processes in finance, human resources, manufacturing, supply chain, services, procurement, and more.”

These tools become necessary once a company reaches a certain size and having these functions separated becomes impractical.

Why use an ERP system?

There are many reasons why companies choose to implement an ERP system. These include anticipated growth, disparate tools or processes that need to be streamlined, and a desire to automate manual or error-prone tasks.

However, the biggest benefit of using an ERP system is centralising most of the company’s data in one spot. This is an invaluable advantage that has knock-on effects: centralised data leads to better data security, improved workflows, and one source of truth for company financial data.

Other benefits to using an ERP system include:

Increased efficiency
Enhanced analytics
Better risk management
Real-time data and improved reporting
And more

Now that we’ve seen why ERP systems are useful, lets cover highly rated ERP systems and why finance professionals love them.

Top ERP system examples as voted by finance leaders

Over 150 finance leaders voted for their favourite finance tools – including their preferred ERP systems. Here are the top five for 2025, with new entries and expert commentary.

Without further ado, here are the most highly recommended ERP systems:

Respondents also mentioned Pennylane, Salesforce, Holded, and Xero. Several also noted that their company had its own proprietary system.

1. NetSuite

NetSuite remains the number-one ERP of choice for finance teams. Loved for its scalability, custom dashboards, and ability to handle multi-entity accounting, NetSuite is the natural next step for companies outgrowing tools like Xero and QuickBooks.

Popular features: Custom dashboards & reports, integrations, tailored budgeting, multi-entity support

Best for: Companies scaling up and needing highly personalised tools

G2 rating: 4.1/5

Capterra rating: 4.2/5

2. Dynamics 365 Business Central

Dynamics 365 is especially popular with firms already invested in the Microsoft ecosystem. It’s flexible, integrates with everything from Excel to Teams, and now features Copilot AI to enhance efficiency and insights.

Popular features: Journal entries, invoice customisation, inventory automation, purchase order management, AI integrations

Best for: Companies using Microsoft Business Suite

G2 rating: 4.0/5

Capterra rating: 4.0/5

3. SAP ERP

SAP’s ERP is renowned for being the most powerful and modular solution on the market. Its flexibility and automation make it ideal for large enterprises with complex needs. It can be cloud-based or on-premises, depending on security and compliance requirements.

Popular features: Custom workflows, automation, internationalisation, multi-entity support

Best for: Enterprises and large companies with broad, complex operations

G2 rating: 4.5/5

Capterra rating: 4.4/5

4. Workday

Workday enters the top five for the first time, thanks to its real-time data, workforce planning, and seamless HR/finance integration. It’s celebrated for an intuitive interface and strong community.

Popular features: Real-time analytics, integrations, user-friendly design, strong HR functionality

Best for: Companies wanting to manage HR and people needs within the finance function

5. Odoo ERP

Odoo climbs to fifth place, recognised for its flexibility, open-source model, and wide range of business apps. It’s ideal for SMBs wanting an affordable, customisable ERP that grows with them.

Popular features: Custom dashboards, automation, integrations, dedicated business apps

Best for: SMBs and companies wanting a user-friendly, modular ERP

To ERP or not to ERP?

ERP systems aren’t a cure-all, nor are they the best solution for every company. But they can be a game-changer for companies and finance teams that could benefit from centralised data, maximised efficiency, improved collaboration, enhanced analytics, and better planning and resource management.

You probably don’t need an ERP system if:

You don’t have much data. ERP systems are meant to handle large amounts of data from across the company. If your business does not collect, rely on, or otherwise use a lot of data to run smoothly or make strategic decisions, then you don’t need an ERP.

You’re already happy with your existing finance tech stack. It may sound deceptively simple, but if you find that you’re managing just fine without an ERP, then you probably don’t need one. Don’t force an ERP system on your company if it’s not necessary or won’t provide significant ROI.

You have major budget constraints. ERP systems can be prohibitively expensive, usually way beyond the budgets of most SMBs. Not only are they expensive to acquire, but costs can escalate rapidly because you’ll need to hire trained professionals to implement and maintain an ERP. This leads to our next reason…

You don’t have the manpower to dedicate to managing the system. Some companies have entire teams (or at least one FTE) to manage their ERP. These systems are data-heavy and require trained experts to manage them, which can prove costly.

You’re not ready to commit. ERP systems take a long time to implement and get up and running. If you don’t have at least a few months to commit to your ERP system, then it may be a sign that it’s not the right time.

You have no plans to scale. Implementing an ERP system is a great investment – if you’re scaling or you anticipate significant future growth. It’s a good idea to get your system in place before your growth outpaces your current processes. But if you’re not growing and your current tool stack is satisfactory, there’s no reason to invest in an ERP.

If you identify with any of the blockers above, then right now might not be a good time to implement an ERP.

The high price and steep learning curve are blockers for many, but those who invest in ERP systems are generally satisfied with them.

Learn more about finance tools

Ready to connect smart spend management to your ERP? Much like ERP systems, smart spend management tools put all your company spending data in one place. See how Spendesk connects with your favourite ERP and accounting platforms.

If you’d like to learn more about the top tools preferred by finance professionals, including the best spend management platforms, download our free ebook here:

Finance tools & tech

Chris Dunne

Chris Dunne is our Content Marketing Manager. Based in Derry, he brings over 15 years of marketing experience to our content strategy. Outside of work, Chris loves spending time with his two young children, playing football, and exploring Ireland.

Get started with Spendesk

Close the books 4x faster, collect over 95% of receipts on time, and get 100% visibility over company spending.

Business spending includes different types of spend:

Strategic spend is usually centralized and managed by C-level executives with dedicated spenders. It can be managed through invoices, wire transfers and purchase orders.
Discretionary and operational spend is also centralized, but spending is done by managers and employees during their daily professional lives. It includes card purchases, subscription payments, digital ads, events, office orders, and business travel.
Expenses, unlike strategic spend, represent a significant amount of small purchases that can be difficult to track. These include card payments, expense claims, team perks, and travel expenses.

Spend management is the process through which companies manage business spending. It takes into account the end-to-end process when someone needs to spend: getting purchase approvals, providing payment methods, submitting and processing invoices, submitting and reimbursing expense claims, chasing receipts and invoices for reconciliation, and assigning the right analytical codes, expense accounts, and VAT rates to all those expenses for bookkeeping.

Spend management tools become necessary when the number of employees increases and the need for clear processes, better visibility and control starts to grow for finance teams.

Employees need flexible, user-friendly tools, in order to spend easily and be empowered to do their job.

That’s when Spendesk can be a good fit.

Spendesk provides payment methods for modern businesses, and a powerful platform for finance teams to manage spending. This includes debit cards to replace old-fashioned company credit cards, virtual cards for online purchases, and automated expense reports for unexpected payments.

For employees
Employees no longer need to spend out-of-pocket. They request funds for a particular purchase, and can use their Spendesk card or virtual card to execute the payment.

If for any reason the employee can’t use their Spendesk card, they snap a picture of the receipt via the Spendesk mobile app and create an expense claim on the spot. This is sent directly to their manager for validation, and on to the finance team.

For finance teams
Each employee has their own Spendesk profile and debit expense card. So unlike the company credit card, you always know who’s spending company money.

The platform lets controllers create spending limits and pre-approvals. C-Level executives or managers will have a different level of pre-approved spend from other staff. Should a team member need to go over their pre-approved budget, they can make a request to their manager via the mobile app or the platform online.

When an expense is made with a Spendesk card, the employee simply snaps a picture of the receipt at the time of purchase. Which means no more lost receipts.

Finance teams can see real-time company spend and follow up on missing receipts or invoices by sending reminders to employees via the platform.

Reviewing expenses is also easier as finance teams can group expenses and assign them the right VAT rates and expense accounts before exporting everything easily to their accounting tools.

Spendesk streamlines the whole business spending process, making spend management intuitive, simple and efficient.