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In recent years, Small and Medium Enterprises (SMEs) have been impacted by the rapidly changing marketplace and their own ability to respond to these changes. Enterprise Resource Planning (ERP), is a term which is coming up amidst a lot of shouts and cheer. ERP is not just for organizations that operate on a massive scale. It is lending a hand to SMEs too, to address their issues and they stand to gain a lot from implementing ERP in their business. First and foremost, ERP solution is completely focused on the end result, for the customer as well as the business. Secondly, ERP synchronizes all departments across offices, irrespective of their geographical locations – they run the operation in a unified style following a standard set of practices. ERP software also brings in its stead reduced costs and increased revenue along with an increased productivity and more organized data which is available to everyone at all times in a more streamlined manner. And, this is just skimming the tip of the Iceberg. The benefits are listed below, please peruse.
Up your ante – it’s all about productivity and better collaboration
Can you imagine a scenario where chaos prevails – employees are in a hassle trying to gather the requisite data from other departments? The endless delays, procedures and green channels are bound to have them in a tizzy! And, ultimately what gets affected? You got it right – Productivity!
ERP targets perhaps one of the biggest problem areas in small businesses. It brings about an increase in productivity with easily accessible data for everyone, saving time and hassle of gathering information in bits and pieces. The streamlined information is consistent and accurate and is integrated in a single location. Know everything in your business by visiting a single location.
With the advent of ERP SME’s will snap out of poor collaboration which is a result of poor communication and lack of access to the data needed. Pooled data will have the benefit of making all employees visualize the finished product in a better way leading to better outputs, both in terms of product and revenue.
Everyone loves decreased operating costs
SME’s are small in stature. Hence reduced overall operating costs are nothing but a boon to them. Best ERP software does just that by pooling all accurate and relevant data into one software application. For small business owners this means saving a lot of money which previously used to go into the pockets of individual software and management systems.
Improved decision making and better business acumen
To take the right decisions, you need data you can trust. Collated, accurate and updated information empowers decision making. It simultaneously aids the decision makers to look ahead for the big picture by correctly responding to crucial events and formulating financial planning which is efficient in the long run. More profits for the business!
The whole Iceberg in a nutshell
ERP is a solution for SMEs, one which is undeniably attractive. In addition to the above listed benefits, ERP also gives valuable information as well as enhances the operating efficiency by changing the company strategies.
ERP reduces operational risk too. Small businesses usually have just a few ‘brains’ within the organization that implement decisions and devise strategies. Malfunctioning of these ‘brains’ can create serious repercussions for the business. The advantage of an ERP system is that any person with experience of the implemented ERP solution can work on it, creating more thinking ‘brains’ in the organization. ERP provides powerful tools for creating accurate forecasts resulting in realistic estimates and well-rounded results for the business.
Modern ERP software systems are strong and flexible. They can be tailored and can also adapt to the ever-changing needs of a growing business. ERP software can even track, monitor and adapt to regulatory compliance within the industry. Business-customer relationships are improved through ERP by a faster, more accurate access to customers’ information and history.
ERP not only improves accuracy and consistency of the data but also protects the data through built-in resources and firewalls. Restrictions to data can also be enhanced by certain individuals within the organisation if they do not want a particular set of information known to everybody, making your software as secure as you’d like.
The implementation of a state-of-the-art ERP solution allows a fast distribution of innovating technologies like real-time Business Intelligence & multi-channel sales. ERP offers simpler and cheaper solutions from both the organizational and technological point of view and pre-configured systems at a fraction of cost and time originally required for implementation.