ERP for small business- Benefits that you can't overlook
✔ You face a variety of challenges – from managing cash flow, sales management warehouse management supply chain and operations to taking care of all departments and employee engagement, all while meeting fluctuating market conditions and customer needs.
At iWork, we have years of experience of helping small businesses and medium enterprises, like yours, to meet their goals.
iWork is dedicated to help you keep your small business moving forward by offering an integrated ERP software which Connect all departments and functions with an ERP system that supports resilience and operational excellence – in the cloud or on premise.
So we are here to focus on some point that why Small businesses need an ERP system to stay at the top of their competition.
The accuracy is, ERP for small business must be faster and sharper than the competition. In today’s business perspective, no business is too small for an ERP solution. ERP for small businesses allows to appear, act and operate like an enterprise-scale business.
Therefore, growing businesses end up creating a fragmented business structure made up of several separate programs that handle finance, inventory, sales, payroll and more. However, recent technological advancements have opened the door to more practical small business solutions.
Enterprise Resource Planning (ERP) has been known to be the backbone of many corporate-scale businesses. This software is a key tool for managing the whole tasks of a business life cycle like production, order processing adapt, inventory management and much more. It also supervisor business resources between stakeholders,
such as; materials, revenue, order, staffing, and manufacturing capacity. All these things are done in a single interactive database management system with built-in analytics and a dashboard.
An ERP for small business can be implemented across several aspects of industries like, supermall, SME, trading, retail, manufacturing, human resources, steel, concrete, pharmaceutical, chemical, oil/gas, as well as agricultural, farming and livestock management.
1. Cost Reduction
Perhaps most important fact for many small business owners is that an ERP system evidently reduces overall operating costs.
When employees have fewer manual processes to weigh them down, they’ll be free to take on more innovative, profitable projects. Not only that, but work flows more easily. Turnaround time decreases and your production capability goes up.
For businesses with inventory requirements, ERP solutions create the opportunity for another kind of savings in the form of inventory management. An ERP system can help forecast demand for specific materials, decrease overstock, and track real-time supply. When supply chain management runs smoothly, your entire organization benefits.
3. Automated Workflow
Human error is inevitable. It’s also one of the biggest efficiency gaps in most organization. The more often your business process relies on a human being to re-enter the same data, for example, the more exposed you are to potential delays and problems.
Automating data flow makes it far less likely that human error will result in missed orders, inventory mishaps or miscommunication. When your business operates like a well-oiled machine, customers get a consistently reliable experience and employee satisfaction gets a boost. The positive effects of both are exponential contributors to growth.
3. Maintain Control
Increase in the volume of business transactions and rigorous use of spreadsheets may lead to lack of control over the data and to the operating state of collapse. Keying data on the spreadsheets can also lead to errors, leakage of confidential information and unnecessary chaos.
Small business often uses cheaper tools such as spreadsheets or simple accounting software such as QuickBooks or Peachtree, which is suitable when the company is very small with a limited volume of transactions. However, with complex business processes and increasing transactions the need for an ERP system becomes a must. With the increase in human resources/employees and growth in revenue, lack of appropriate integrated business software may have a negative impact on small business. The bottom line may be impact in the form of lost orders, inventory shortages, and poor planning, missed invoicing, missed shipments, and thereby lack of control. By streamlining data into a dedicated software application, small business owners can save money on individual software and management systems that were being paid for in each department.
Perhaps one of the enormous benefits that can be enjoyed from ERP for small business is an increase in productivity, which is important for any company’s bottom line. With increased transparency by smooth business processes, employees can shift their focus on managing enlarged volumes of business. This aids in transforming various features of your business and overcoming the challenges involved in your business growth as well.
As highlighted above there are many ways that a small business can benefit from implementing ERP system. ERP solutions can provide small business with such benefits as improved information, visibility, optimized business processes, effective communications and productivity improvement. once a small business has determined that these benefits are crucial for its growth. it should not delay in implementing an ERP system. although money, time and effort will be needed in the implementing of such a solution, the cost savings and improved performance brought about by implementing the right ERP will outweigh the total of short term expenses.