ERP for small and medium enterprises

Breaking the stereotype:

The general association of  an ERP software was made only with giant organizations in the past, simply due to the cost involved in implementing and successfully setting up an ERP system. However with Cloud ERP gaining traction in the recent years, small and medium sized businesses are also coming forward to leverage the technology in order to grow their companies.

While large enterprises struggled to keep up with the Cloud due to already having an ERP in place, SME’S were able to take advantage of the situation and quickly up their game while moving into the cloud ecosystem.

Why ERP for SME’S?

The availability of proper resources and smooth functioning of all business processes determines the difference between surviving and becoming obsolete in the small and medium business scene. This is largely due to competition as huge organizations usually don’t pose immediate threats to their business which doesn’t stand true to SME’S since there is a new company in the block every day, meaning the fight to stay afloat is usually brutal.

ERP equips these businesses with tools and functions that help them rank higher up within their segment, this usually is due to the flexibility that these systems provide.

Streamlining and unification of core business processes are vital for survival of SME’S. With a suitable ERP system, day to day operations can be organized seamlessly across the business. Redundant and repetitive tasks can be automated allowing employees to dedicate the time required in others areas of the business.

Speculating the best time for ERP and their added benefits for SME’S:

The notion in the past was generally that large organizations are best suited to implement ERP due to the complexity of the software and the costs involved.

However that is far from reality in 2019, SME’S have viable options, specifically Cloud ERP which allows for rapid deployment, is cost effective with minimal sequential charges. SME’S have shown that they are willing to invest in the technology and allow for it to be an integral part of their business.

Here are a few parameter’s that must be considered prior to investing in an ERP

-          All Inclusive software: The ERP must have a comprehensive approach i.e being able to cater all areas of the business, customizability also plays a crucial role here, as it helps the software to be in a manner cater to a business “exclusively” while allowing the business owner to reap the maximum benefit of the software.

-          Software grows in-sync with business: As an organization grows and adds new entities or extensions to their business the ERP should be able to incorporate to these changes so they could leverage from the software.

-          Mobility: Work flexibility has become one of the largest driving reasons for people to opt for an ERP. Allowing the ability to be able to connect from anywhere at any time is also vital. This is mostly granted through Cloud ERP systems which explains their grand demand in a short period of time.

-          Like-Minded Partners/Vendors: ERP doesn’t end with implementation, the business needs to research and locate a vendor that helps them not only implement the ERP but also allow then to identify and tap into new areas with assistance from ERP, should provide continued support and assistance in cases of complexity and should understand the organization well from inside out most importantly.

In a nutshell:

The components impacting if and ERP project is a winning or losing one are essentially infinite. However taking lessons from SME’S who have implemented ERP systems successfully indicates toward implementation through industry best practices which is the unparalleled road for successful ERP projects.