Where might you be going wrong in conducting your core business activities? What improvements can be made, and how? These are the most frequently asked questions among SMEs.
As the backbone of our economy, SMEs (small to medium-sized businesses) are constantly improving, growing and updating their business models, as well as their daily processes. Enterprise Resource Planning software is also constantly improving and becoming increasingly more complementary and accessible to small businesses. Naturally, many SMEs are forging ahead and seeking out solutions in the form of ERP systems.
Is My SME Ready for ERP Software?
Because of the exceptionally intuitive and advanced capabilities of ERP software, some small businesses associate ERP with steep costs and big changes that they may not have the budget for. But the reality is that your SME doesn’t have to land in a higher tax bracket to warrant an ERP system.
Cloud-based ERP is the gold standard among SMEs, offering the same highly intelligent features of on-prem software, without the exorbitant price tag.
An economic solution to the common complaints and inefficiencies among SMBs, cloud-based ERP covers a varied range of areas with an impressive variety of web-based tools.
Cloud-Based ERP – Core Processes
Automation: Automating common manual tasks eliminates human error and saves your business both time and money. Core ERP delivers a significant competitive advantage for your sales and accounting teams. Financial statements are accurate and immediate, maximizing efficiency within these integral departments.
Data Analysis: You can’t measure what you can’t see. A comprehensive KPI dashboard delivers crucial key performance indicators – updated in real time – and visibility of all your manufacturing and sales processes. These reports have a measurable impact on your profits by driving important, educated business decisions and promoting innovation. Nothing could be more valuable in the short and long-term picture of your plans and goals.
CRM: Our CRM organizes and integrates purchase orders, account reminders and notifications for your sales pipeline. As well, CRM opens up new sales channels by managing quotes and purchase orders, as well as supports upsells with profit margin data.
Supply Chain: Cloud-based ERP tracks inventory, manufacturing processes, shipping and distribution. In addition to delivering accurate material ordering and forecasting, automated and integrated supply chain management provides superior control over your inventory and supply chain processes.
Data Silos: Internal and external communication breakdowns within business departments are a very real problem among SMEs and result in excessive time spent connecting the dots and bridging the gaps. What often ends up happening is counterproductive stints with employees unintentionally working against one another – this generates even more unnecessary output. Core ERP removes data silos and increases efficiency for inventory management, sales, supply chain, distribution, finance and manufacturing information. New data is accessed in real time, avoiding potentially major mistakes and ineffective, back-and-forth exchanges.
As we expect to see a major surge in post-pandemic demand, businesses must be prepared to ramp up production/sales and come out of the gate strong. If your SME could benefit from core process upgrades through ERP software, reach out to our team for more information and tailor-made systems for your unique needs.