in: Company News
Enterprise resource planning (ERP) systems encompass a wide range of platforms, from those created for small to mid-sized businesses to some of the most powerful systems built for large enterprises. In fact, many business owners mistake this software as something only “big” companies benefit from, but that’s far from accurate. All companies, including small businesses, can benefit from the powerful data and analytics capacities of an ERP system. Here are five benefits that any business can gain from the adoption of an ERP system.
Five Benefits to Small Businesses of Adopting an ERP System
Small businesses are typically those with anywhere from two to several hundred employees and up to $20 – $40 million in revenues. These companies provide myriad services and products and form the backbone of industry throughout the world.
Many small businesses can reap substantial benefits from adopting an ERP system. The following five are those that are the most impactful, but many more benefits can be achieved
Centralized Business Processes and Information
Startups often make do with siloed systems. Accounting is handled on one platform, operations in another, and human resources in yet a third. Yet as the company grows, siloed data becomes problematic. Pulling data from one system to combine it with data from another takes time and resources and slows down decision making. This lack of visibility into the data can hinder growth and competitiveness.
An ERP system centralizes both processes and data from all areas of the organization into a single system. This makes it easy for everyone to use companywide data for improved decision making and breaks down data silos. Business processes can be streamlined, and a great deal of time and effort saved finding and using data.
Real-Time Data Access
Cloud-based ERP offers not just flexibility to small businesses, but real-time data access, too. Because the data is backed up and synchronized on the cloud, it is available in real-time. Track customer buying habits, stock levels, sale prices, and more with confidence.
Another excellent benefit of ERPs for small businesses is scalability. Cloud ERPs can be easily extended as your company grows, without adding costly hardware or infrastructure. Additional functions can be added through modules or extensions to accommodate new tasks.
Although licensing a cloud-based ERP may seem expensive, consider the costs you have now from running various platforms. Consider the cost of software licensing but also the time costs involved. How much time is it taking you now to pull data and reports from one system and reconcile them with data and reports from another? How is the lack of data visibility and transparency holding you back?
Additionally, cloud ERP systems require no costly hardware investments. Employees can use their current laptops or desktops to access the system. And, if they work from home and your firm has a BYOD (bring your own device) policy, the ERP can be safely accessed through a VPN.
Overall, most companies find they save money over time after the initial costs when they move from separate, siloed systems to an ERP.
Better Customer Service
Because ERP systems provide a 360-degree view of companywide information, anyone within the company can pull customer information and answer customer questions with the same basic information shared throughout the system. This provides better customer service, which enhances customer satisfaction. And satisfied customers tend to be loyal customers, thus providing repeat business to your company. Repeat business is often more profitable because of lower marketing costs.
Let’s Discuss the Benefits of Moving Your Business to an ERP
If you think the time is right for your company to switch from separate systems or spreadsheets to an ERP, Mindover’s consultants can help you assess the right platform for your needs. As Sage and Acumatica consultants, we can help you sort through the many possible choices to find an excellent ERP that will enhance your business and provide you with many competitive advantages.
Mindover is a gold-certified Acumatica Partner and the best choice if you need assistance with your Acumatica platform. Contact us or call 512-990-3994.