Running a business is all about efficiency. If your processes are not well-planned, then you end up spending too much time and resources on tasks that can be done in a snap. This, in turn, negatively impacts your team’s overall productivity and even your year-end profits.
Moreover, is it routine for your team to struggle with too many spreadsheets? How much of a headache is it to obtain financial data for business reporting?
If you are facing business process problems along these lines, then it’s high time your business gets an ERP (Enterprise Resource Planning) software.
Still unsure? I get you. It is widely believed that ERPs are for large enterprises, and that small businesses do not need one. However, now that there are multiple ERP systems available in the market for Small-to-Medium Enterprises (SMEs), it goes to show that your small business might also need one.
Let us discuss ways in which your business can benefit from an ERP system.
What is an ERP for Small Businesses?
An ERP is a centralized business management system that connects all business departments like finance, business reporting, supply chain, operations, etc. So, instead of having separate management software for all these aspects, ERP manages all of these simultaneously.
This centralized management system smooths out a lot of business processes. The most important one is data management. ERPs allow small businesses to manage their data in the best way possible. It also stops important business data from going into siloes because it allows easy sharing of data between departments. This also improves data quality, which means more informed decision-making.
An ERP also keeps all employees connected to business processes and data, no matter their geographical location. This remote access is provided through cloud-based access and mobile apps. This means the employees are not dependent on physical servers to access data.
All they need is stable internet access to be connected to the company data and processes. As far as reliable internet access is concerned, Xfinity Internet plans are available in a variety of speeds and price ranges with guaranteed reliability. Plus, their 24/7 available customer service is always available to help in case of any issues. This is the kind of reliable internet access employees need to be connected to their ERP.
Lastly, ERP software is flexible in nature due to its modular nature. This means that a small business does not have to have fully functional departments like finance, sales, manufacturing, etc. You can get it for the department you currently have and then add more as the business expands.
Why Is Getting an ERP for Your Small Business a Good Idea?
As I mentioned above, ERP has so many benefits from a business perspective. Unified data management and access is one aspect of it that can give your business a competitive advantage over others. There are many others like:
Data-Backed Decision-Making
Data management is one of the strongest points of ERP software because it gives you a single centralized data source. If you are using separate tools for different tasks, then you have to manually combine the data which can result in human errors.
But ERP gives you easy access to data and lets you see everything in one place. You can use this easy and unified data access to back your business decisions. It can even help you in scenarios that need prompt decision-making.
Improved Collaboration
Since an ERP can manage all business departments and processes, it means easy cross-departmental collaboration. This is especially important for small businesses so that everyone can work together.
For instance, your sales team can collaborate with the customer support team to get access to customer insights. This will tell them about customer expectations, which they can use to improve their sales strategy. Similarly, easier collaboration means everyone can work together without losing any data.
Better Cost-Efficiency
Operational costs can negatively impact your business’s overall profitability. ERP allows you to save big on costs because you do not have to use separate software. It is like a one-stop solution to streamline and improve all your business processes.
Moreover, ERP also saves you from human errors which can cost you big time due to delayed timelines and error fixes. Plus, its automation capabilities also save you from having to hire multiple resources.
Business Intelligence
Unified data has one more major advantage, which is Business Intelligence (BI). This is when businesses collect and analyze important business data, and run it through powerful data analytics tools. This results in strong actionable insights that can allow you to improve your business decision-making.
ERP’s unified data access and built-in business intelligence tools can help you grow your business. You can track performance metrics, identify patterns, and highlight problem areas with its smart business intelligence capabilities.
Automation
Saving the best for last, ERP allows business process automation, which can automate routine and repetitive tasks. Not only does automation save you a great deal of time, but it also frees up your employees to do meaningful work.
Repetitive work processes tend to be counter-productive and can drain your employees quickly. ERP eliminates the need for manual intervention in routine tasks. This not only reduces the chances of human error but makes your business processes more efficient.
