An Enterprise Resource Planning (ERP) System is a platform that combines critical functionalities like HR, Accounting, Supply Chain Management (SCM), Customer Relationship Management (CRM), etc. into a single software. Hence, it is very important for small businesses to adopt business management software like an ERP for optimizing and augmenting the productivity of their business.
An ERP for small business can help enhance communication and seamless data exchange across different departments and optimize business processes by giving users access to enterprise-wide operations. Moreover, tools like ebizframe ERP software is useful for businesses that look to standardize their Human Resources (HR) operations.
Discover the Best ERP for small business
Identifying the type of ERP Software ideal for Small Business
Industry Specific ERP System
This type of ERP Software can be tailored to match the needs of a specific industry like retail, automotive, etc. However, usually, the large businesses use this type to meet more complex needs.
Web Based ERP System
Also called web-enabled ERP, this type of ERP software offers remote access from anywhere using any web browser. It is easy to set up and install which makes it apt for small businesses.
Small Businesses ERP
This type of an ERP System is specifically designed for small businesses and caters to certain critical functionalities and features of Sales, Purchase, Inventory, Finance, and HR. Due to its limited functionality, this ERP System is highly affordable and also quickly implementable as compared to a full-featured ERP Solution.
Essential Features of ERP for Small Business
An ERP Software for small business comes up with features like Accounting, CRM, Inventory Management, Manufacturing, Supply Chain Management, Integration with 3rd Party Applications, Analytics and Business Intelligence (BI). For instance, ebizframe ERP can help automate all the activities of an organization into a single system. It uses a single database and a common software platform thereby giving a better understanding and enabling managers to make informed decisions on the entire business operations much faster. Some of the essential features include:
It helps business augment customer satisfaction and revenue by managing interactions with customers at every level. An efficient and transparent client relationship management leads to increased customer loyalty and thereby increased sales.
This feature helps small businesses automate and streamline their financial and accounting processes to seamlessly comply with statutory requirements and also manage cashflows better.
It allows businesses to automate their HR activities from the stage of “Hire” to the final stage of “Retire” in an employee lifecycle management. This includes appraisals, salary processing & disbursement, managing increments and promotions and every aspect of human resources.
This feature helps small businesses keep a check on managing their inventory efficiently as per the demands of the business. An efficient inventory management system ensures minimal stock-outs, non-moving inventory and an inventory properly aligned with the need of the Production Department.
Business Intelligence feature provides the operational data of an enterprise in an easy to comprehend manner which is utilized for forecasting, understanding business dynamics and taking informed decisions, faster.
Supply Chain Management
With this feature, you can track goods as they move through the supply chain and comprises applications like supply chain planning, warehouse management, supplier management, etc.
An ideal ERP System should be capable of integrating with your existing business applications and hardware like Biometric Attendance Systems, Point of Sale Terminals, etc.
Analytics and Reporting
This feature of ERP software provides the users with comprehensive and precise reports across all the departments which help in organized data analysis and decision making. Moreover, a good ERP System has an inbuilt Reporting Writing Tool so that users can create reports as per their own requirements rather than asking the ERP Implementation Provider for assistance.
How to Choose an Ideal ERP Software for Small Business?
In choosing the best ERP system for small business, a business owner should consider the following parameters:
Businesses should compare the types of subscription plans available, maintenance costs, and also the costs involved in ERP customization. Careful assessment of a per user per month license cost for a period of not less than 5 years should be compared with the one-time cost of a perpetual license.
ERP System for small business must be flexible enough to be customized so as to meet the unique requirements of a small business and be ready for future business expansion.
With the growth in business, the needs of the business also increase. So, having the best ERP for small business that can perform well with the increasing needs is very much essential for the performance of a small business.
Small businesses should prefer implementing ERP software like ebizframe that involves little training and are easy to adopt even by a semi-skilled workforce. This, in turn, diminishes the amount of time spent on understanding the system and the focus can be shifted towards more strategic operations.
You must consider all the aforementioned points for implementing an ERP Software for small business. ebizframe ERP Software is a perfect solution for small businesses because it has all the capabilities for this particular market segment. Moreover, ebizframe ERP is an extremely mature ERP System which has been successfully implemented for over 1,100+ clients in 25 countries across 20+ different industry verticals. Today, ebizframe ERP powers US$ 40 Billion of sales per annum for its clients.