It is good to pay attention to any decision you take for your business or life. Weighing the pros and cons is important. The gut feeling and guessing game are quite passé. In the business world where competition is rising every day, it is the need of the hour to take decisions practically and rationally. This is why, when companies think of investing in ERP, they end up contemplating a lot. The cost involved is getting an ERP implemented is higher than other software but the ROI undoubtedly is way higher than the rest. However, the initial cost still manages to become a reason big enough for an SME to not invest in ERP for SME.
The question to invest or not invest still keeps on buzzing in the head of the company’s management. So, in this blog, we attempt to make you decide if your SME needs an ERP or not. Take a look as we discuss the features and benefits of the ERP software for you to make your decision later.
Feature of ERP
Accounting
No one in any sort of business can overlook the accounts and finances. Your business runs on money and so the details need to be impeccable. Account receivable, payable, reporting, ledger, and payroll are to be maintained so that the managers can get real-time information. This feature in ERP helps in attaining the same. Once implemented, it involves low cost, more profitability, and improved cash flow.
Inventory
Whether your organization buys or makes the same, there is a need for keeping a track of all the material. The ERP software helps with the movement of goods and management of the speed at which they move. This helps the business in managing the record of the requirement of the customers and in managing the inventory rightly. Little inventory would mean inadequate production and loss of sale. The value of inventory is also kept as a
Human resource
The ERP HR module has moved beyond the core process that includes payroll, administration, legal reposting etc. When you invest in ERP for SME, you get a host of features that help you manage recruitment, time and attendance, performance and talent,etc.
The managers can access all the things remotely of every office branch and even access the crucial employee-related data necessary for various HR procedures.
Supply Chain Management
It is quintessential for the companies in such a competitive marketplace to be able to monitor their demand, supply, logistics, distribution, manufacturing, etc. For the same ERP for SME is being made. Knowing the information and sharing it the supply partner can have a significant impact on the supply chain. An ERP for SME can help in supply chain management from the design to planning to procurement and fulfillment as well.
Apart from the aforementioned points, there are many benefits of using ERP for SME, they are operational Efficiency, Quality control and assurance, Sales management, Analytics and reporting, Best practices recommendation, Cycle transparency, Order management, Trends, Improved response to customers are just to name a few. So, now that you know how useful it is, get an ERP software for your business from a trusted channel partner as soon as possible.
