UNIT4 provides an ERP solution built specifically for higher education called Agresso Education. It includes the usual ERP features like financial management, human resources, reporting, etc. along with features specifically designed for universities, like registrar and student records.
Some of the larger institutions run on SAP and Oracle (Northern Arizona University, U. of Basel, U. of Warwick all run SAP). Others run PeopleSoft, SunGard Higher Education, or UNIT4/Agresso. Then there's Jenzabar and Datatel, but I've come across others too. When you say "best," that's really dependent on your requirements. For starters, consider the cost, the architecture (cloud vs on-premise, for instance), and functionality. If you would provide some more detail, maybe I can help more.