In today’s highly competitive business landscape, no business is considered either too small or big when it comes to the implementation of an ERP solution. Whether small companies should invest their capital on ERP solution or not?
This is the main question that most of the business owners out there think about. Why not? After all, integration of an ERP system is indeed one of the most critical business investments. Yet, there are many small-sized and start-up companies assert that they are not the right size for acquiring an ERP system. This majorly stems from the frame of mind that the total of users impels the requirement for an ERP solution.
However, the reality is a small business must be faster and sharper than the competition. ERP for small companies basically empowers them to perform, act and function like an enterprise-grade business.
What is an ERP solution?
Enterprise Resource Planning (ERP) solution in broad spectrum considered to be the main cornerstone for many enterprise-scale businesses across different industry verticals.
Here are some quick facts about an ERP system:
- The software is a vital tool that helps companies in seamless management of production, order processing and inventory. It also helps them to keep a track of all the business resources between stakeholders, including profits, supplies, orders, recruitment and manufacturing volume. Each and everything is single-handedly managed by powerful and resilient interactive database management system with a cohesive analytics tool and a dashboard.
- An ERP can be integrated without much problem across numerous industries, right from manufacturing, retail, human resources, steel, concrete, banking, pharmaceutical, chemical, Oil and gas to agricultural, and farming and livestock management.
- There was a time when no ERP solution was designed for small-sized businesses. The main reason behind this was small companies never had sufficient funds or even technical team to help them create the required setup to adopt the customary enterprise-grade ERP solutions.
- Hence, start-up businesses wind up developing a patchy commercial arrangement that was made up of different distinct platforms that were meant to manage finance, inventory, sales, payroll and much more. Though, the latest high-tech progressions have unlocked the door to more practical ERP for small companies.
What all criterion do small or start-up companies should bear in mind?
In a small company or startup, employees are considered to be a jack of all trades. Anyone does any work depending on the ongoing requirement. Gone is the time when people used to maintain a spreedsheet for recording day-to-day activities and expenses. ERP for small companies can help in automating the major business operations, including order processing, production and finances.
Nevertheless, ERP software is basically deployed for all departments in a company and successful integration of the ERP system does require watchful preparation to abate the possibility of failure and to confirm objectives are accomplished.
What Benefits of ERP for Small Companies?
- Transparency: Contrasted with each division having its own info system, all pertinent information can be assembled in one place so that it can be accessed by all the departments. This reduces the requirement to re-enter or disseminate data, which can generate fewer inaccuracies, augmented throughput and abridged expenditures on human resource.
- Decision-making: Concurrent data delivered by the system can be favourable for advertising, administration, accounting, and permits the business to make critical business decisions on time and decrease waste. An internal team can find out the major problem that can badly impact the overall productivity level of the company. Managers can make decisions depending on the fluctuating business environment.
- Productivity: With amplified clearness and transparency because of simplified business processes, the employees of the small-scale businesses can definitely pay more heed on handling augmented volumes of trade. This helps in transmuting numerous aspects of your business and outdoing the challenges you face while running a business.
Plan for Now and the Forthcoming Years
Many start-up and small-scale companies do recoil from capitalizing in an ERP solution, because of the jeopardies connecting to finances and ineptitude. Eventually, you need to comprehend how your business functions to completely appreciate what you want to get out of your ERP for Small Companies. Want to join the bandwagon? Speak to our experts now by calling on toll-free number