Anticipating the use of ERP systems among small to medium enterprises (SMEs) to be the future area of growth, ERP vendors such as SAP, Oracle, PeopleSoft, J.D. Edwards and Bann are introducing ERP software that appeals to the market segment of the SMEs. Introduction of the ERP systems for SMEs includes compact packages, flexible pricing policies, new implementation methodologies, and more specialized functionalities. The strengths-weaknesses-opportunities-threats (SWOT) framework of the ERP software offered by the aforementioned vendors for the SMEs requires in-depth analysis based on real field data. The aim of this study is to identify the strengths, weaknesses, opportunities, and threats of ERP systems offered by the five leading vendors for the SMEs in Australia. Multiple case study design approach is used here for collecting the primary data from the ERP vendors. A SWOT framework is developed to study the functionality of the ERP systems offered by these vendors. This framework may guide the managers of SMEs in selecting and implementing ERP systems for their organizations.