Does An ERP Make Sense For Your Small Business?
It seems like every day there’s a new solution that will change the way you run your small business.
It’s hard to know which are legit, what partners you can trust, and what you need versus what would be nice to have. Not to mention what you can squeeze into your budget!
You already have enough on your plate running your business — and that’s exactly what you should be spending your time doing: running the actual business.
Enterprise Resource Planning (ERP) software can help. Let’s take a quick look at how.
What is Enterprise Resource Planning (ERP) Software?
An ERP is a software solution that collects information from all of your departments into a single, centralized database. Depending on what your business does, this may include critical business functions like finance, inventory, manufacturing, sales and marketing, order management, scheduling and more.
With an ERP in place, your team has access to real-time information that covers the entire scope of your small business. This data is available through your ERP's reporting and analytics, which will help your business make smarter, data-driven decisions.
An ERP solution provides enhanced visibility into your business operations and can help improve inefficiencies. You’ll also be able to highlight growth opportunities and use real data to get there.
When you have an ERP in place, your organization can use the program to keep track of your moving parts. All of your data will be in one safe, organized, accessible central database. You won’t ever lose anything to a spreadsheet again.
With an ERP, you have a complete picture of your business’s daily operations. It’s a transparent solution to manage your departments and work together to achieve your goals.
Benefits of ERPs for Small Businesses
We’ve already discussed the benefits of ERPs for businesses, but they’re a bit different when we’re talking specifically about small businesses.
Beyond providing complete visibility into your daily operations, your ERP will make your organization more efficient in these key ways:
Increase Productivity & Reduce Costs
The biggest benefit of an ERP is the ability to identify inefficiencies without having to hire additional IT or staff. The information you capture can help you learn about your business and gain a competitive edge. Using this data, you and your team can become more efficient and productive while reducing your operating costs.
It’s a smarter way to manage your small business.
Gain Agility
The small business environment is challenging and ever-changing. The success of your business depends on how well, and how fast, you are able to respond to that change.
When you have a flexible and scalable ERP, you will be knowledgeable about changing market dynamics. You’ll also have insights into your customer needs and be able to see a shift coming. You can then make decisions to respond to these changes and/or be ready for bigger movements. Staying agile means you’re ready and adaptable. These are the types of businesses that grow and survive.
Enhanced Analytics
ERPs are also incredibly powerful analytical tools. Since all of your information will be collected into one central database, you’ll be able to put that data to good use.
You can see where your business stands and use real data to determine what changes need to be made to meet your goals. You’ll be flexible and scalable and able to respond to shifting market demand. The ability to not just have a collection of data, but to understand and use its power helps your business stay a step ahead.
Become More Productive
Small business ERPs will automate tedious tasks that normally take up too much of your time. Things like manual data entry, inventory monitoring, creating reports, timesheets, invoicing, and more, can all be automated through your ERP. This frees up your team to work on more important tasks for your business.
Summary
Now that you see the value, the next step is to find the best ERP for your small business. With the right partner, your ERP software will keep costs down, improve the efficiency and productivity of your office, and help you scale and grow. Check out our free white paper to learn what kinds of questions you should be asking as you search for the right ERP for your SMB.
