The right time to consider investing in an ERP (Enterprise Resource Planning) system differs for every business, but the importance of running efficient systems and having access to accurate, comprehensive reporting is a universal requirement.
ERP systems are used to manage companies’ core functions such as financial management, production, stock, sales and purchasing. If your organisation needs a better understanding of its financial health, needs to increase efficiency, automate or improve business processes, it may be worth investing in a new ERP system.
Small and medium-sized businesses (SMBs) have a few advantages over large companies: they are energetic and can adapt quickly to meet the changing needs of their customers, and they often attract customers with the personal touch their size allows, which isn’t always possible for larger enterprises. One area that’s more difficult for SMBs is computer systems and the software needed to run their business.
The SMB operates using a blend of software applications and often with manual systems that have developed in response to the needs and growth of the business. A lot of time and manual labour goes into making the applications or systems work with each other. At some point, the organisation needs to find a better, more unified approach. This decision can be based on pain within any part of the organisation, but the lack of financial visibility in the company tends to be the key driver in buying an ERP system. ERP Puts the Focus on Business Process Improvement.
“The most important thing to remember is that smart use of ERP should not be about implementing software but should be about the transformation of the business.”