What’s that which is generated by every business all the time but yet few take efforts to store, record and access? Information, in the form of data. Called the “new oil”, it, in essence, is the commodity that brings both large and small enterprises at par. And helping the process is the best among business software solutions, the best ERP solution for the SME sector which in practically every instance these days is cloud-based.
And how does a business software solution, the ubiquitous, ERP solution for SMBs help enterprise? What are the key problems of SMEs that they solve?
Experience shows that it’s the following kind of problems typical to the MSME sector that the best of ERP solutions helps solve:
1. It takes away the need to employ people for every activity and centralizes activities
ERPs are known to collect, collate and silo information as per need. That said, information that is entered once is reflected in different places for different implications. What it does is to reduce the need for multiple personnel doing the same work in varied departments. For instance, person entering details for finance helps other departments get required information without having to depute a special person to do the same activity all over again. Employment is always a drain on MSME resources, and a ERP is something that can stop it by centralizing information collection and storage. Even key personnel can do the same without the need for specialized persons. All this helps save enormously.
2. It gives an end-to-end solution with complete visibility to the owner
An ERP, cloud-based or otherwise provides much-needed end-to-end visibility to its owner all the time. From the time raw materials, personnel, finance and other resources come into the organization to its final departure or consumption, everything is recorded in minute details- including wastage. This gives the ERP Solution for SME sector the biggest chance to provide all-round, round-the-clock visibility to SME managements on where resources are used, whether it’s been used wisely and needfully, and how to control apparent wastage. With such a resource at hand, the business is provided the right means to divert resources to the right places in order to earn higher or reduce costs, sometimes substantially.
3. It helps collect data for precise action & predictions
Probably its most important role that only a few understand is the ERPs role in collecting information. Information, as we today know it is what can change the game. And information is precisely what the best ERP Solution for SME sector has in bulk! Where the same is routed thru an AI-backed system, the ERP’s output of data can help most businesses in various ways, including tweaking products to suite customer needs, predicting the need for change in product line, predicting when sales is likely to go up (or down), besides showing prevailing and likely trends in customer needs, as also raw material supplies. With such information, a MSME doesn’t remain just that but can grow to compete with the biggies.
4. It helps accomplish a lot for a very small sum of money
What if you were given an option to be able to drive a Ferrari at the cost of maintaining a three-wheeler? Wouldn’t you take it up happily? Would you have reservations about doing so? Most likely NOT! Same goes in the case of businesses, more so those on the growth path that need to cut costs and flab, and get lean, mean and very clean in the interest of quick growth. Helping such business is the idea of an OPEX expense that gives all the advantages of owning a CAPEX asset! The cloud-based ERP solution for MSMEs! For a small sum of money, you get huge benefits- without the need to own the asset in its entirety!
5. Cloud-based ERPs can be accessed from anywhere in the world on any gadget
Being internet-based, the best ERP Solution for SME sector can be accessed on most gadgets from anywhere in the world that has a stable internet connection! What this means is that owner of MSMEs have 24 x 7 access to information anywhere on the planet which going forward helps them take the right decisions at the right time for the best outcome and output for the business. This, in a way helps business reduce its manpower and intermediary costs while keeping decisions super clear.
6. It helps further the concept of work from home which may help MSMEs save on premises rentals, transports and the likes
One of the biggest bug-bear of any business, and more so SMEs who can’t afford to buy office space, and need to rent it, is rental which sometimes constitutes the majority of expense of an enterprise. And rentals do not in any material way add to the betterment of a business! One of the best and easiest ways by which an enterprise may circumvent this mountain of a misery is to ask employees to work from home. And this is possible when your systems are cloud-based! A cloud-based ERP Solution for SME sector! It helps accomplish a lot while cutting wholly unnecessary expenses including rentals!