2016-12-28 00:00:00 Starting a Business English Take a look at enterprise resource planning software and learn how you can use it to more efficiently manage your small business. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/laptop-on-desk-with-enterprise-resource-planning-software.jpg https://quickbooks.intuit.com/ca/resources/starting-business/does-your-business-need-erp-software/ Does Your Business Need ERP Software?

Does Your Business Need ERP Software?

2 min read

Enterprise resource planning software represents a sizeable potential investment for your small business. It remains an issue many, especially new, small businesses debate, thinking themselves too minimal or “small” for such an investment. This attitude is largely based on the misconception that companies only need ERP software if they have a large number of employees. Keep in mind that your small business must constantly be on its toes, attuned to working faster and more efficiently than competitors, especially when running alongside larger corporations. In the marketplace, ERP software might just be the key to making your small business operate with a competitive edge.

Understanding ERP Software

ERP software is a staple for many major corporations, and is used to manage production and the processing procedure for orders, and to keep track of inventory from assembly to storage on the shelf. This software also monitors stakeholder resources such as materials, staffing, capacity for manufacturing, and revenue. ERP software accomplishes all of this from a singular interactive management system through its dashboard and onboard analytics.

ERP software is tailor-made for implementation in a number of industries, including retail sales, steel and concrete construction, pharmaceuticals, oil and gas, farming, livestock management, banking, and human resources. Until recently, however, there were only a few options that were appropriate for small businesses because a lack of funding and/or technical support within many small businesses prevented them from effectively implementing traditional ERP solutions designed for corporations. That problem has since been successfully addressed by ERP software producers.

Top ERP Solutions for Your Small Business

In recent years, new ERP software solutions have been made available specifically for small businesses. Deskera’s software is cloud-compatible, and features key functions that include billing, sales, and purchase management, as well as the capability to generate custom financial reports.

With its low cost and user-friendly interface, QT9’s software is ideally designed for small businesses. This ERP solution is equipped with modules that enable you to automate and run nearly every facet of your company, including accounting, purchase orders, inventory and production management, and sales.

Benefits of ERP Software

If your small business is struggling in the areas of making decisions, being productive, or intercompany transparency, implementing ERP software may provide substantial benefits in terms of improving overall operating efficiency.

For making decisions, the data, updated in real time, that an ERP system provides can help you to better manage the entirety of your business, especially in the areas of marketing and accounting. The software generates vital information that enables you to make substantial operational and other decisions quickly, helping to reduce costly mistakes. This ties in with the area of productivity. Effective decisions made promptly boost clarity, for both you and your employees, which opens the door to streamlined processes that enable your staff members to better focus and increase their levels of productivity. This intercompany transparency also ensures that all departments are working from the same information; the data is comprehensively stored within the ERP software, which eliminates confusion, decreases mistakes, and ensures cohesive production.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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