An investment in an enterprise resource planning (ERP) system may be one of the best investments a small business can make. ERP solutions are no longer just for large companies; as the costs have come down, it’s easier than ever for small and medium-sized businesses to operate similarly to – and compete with – larger enterprises.
Here are ten reasons to move away from your small business accounting software:
For businesses with more than one department, an ERP system is essential. Because an ERP system has a single database that stores all your company's important data, each department has access to the same data – no need for data re-entry across systems, fewer opportunities for errors, and easier collaboration among employees.
Many small businesses grow by expanding their operations to another location. An ERP solution is crucial when managing more than one location as it avoids waste, redundancy, and allows you to get better pricing from suppliers by combining purchasing needs.
When a business operates in a competitive environment that requires quick decisions, an ERP solution offers more accurate, up-to-date data, helping the "higher-ups" make better decisions.
Workload or Systems Overload
Overload is when the staff or existing systems cannot keep up with the workload necessary to process the information that the company needs to operate smoothly. There may be a high volume of transactions that cause this, system failures, and/or the need to work with large amounts of historical data or large databases. Rather than investing in more staff, an ERP solution will ultimately reduce workloads, allowing staff to manage increasing business volume efficiently.
An ERP solution can prevent delays in filling customer orders and prevent lost sales due to an in inefficient purchase ordering process.
Businesses that consistently underperform and fail to meet income or revenue expectations frequently lack good strategic planning. An ERP solution provides the information necessary to see the “big picture” and eliminate bottlenecks, increase productivity, and take advantage of business opportunities.
They say that multi-tasking just means doing many jobs poorly – if your employees have their brains doing too many tasks at once, an ERP system can help by offering dashboards and other methods that offer better task organization.
If manually counting or entering inventory has left your inventory records a mess, an ERP system offers a better management solution.
Sales forecasts should not come from guesswork; allowing them to do so will wreak havoc on both your inventory counts and your customers' satisfaction. An ERP system keeps a history of purchases, allowing you to see which inventory items are in high demand and when so you can make better purchase order decisions.
Complex Business Requirements
Certain industries – the food and beverage industry, the pharmaceutical industry, the oil and gas industry, etc. – cannot function without software that can handle the complexities required of such businesses. If your business must meet governmental or local regulatory laws, for example, an ERP system is a necessity.
The benefits of investing in an ERP system are clear: improved productivity, happier employees, more satisfied customers, more accurate, organized data, better inventory control, and more.
Contact Asyma Solutions today to learn more about getting your own ERP solution.