What is an ERP and why it is good for your business?
Technology is evolving, and using technology in your business should be the next step if you are a brick and mortar shop. We do not mean using the cashier, but in your operations, your planning and your consolidation of your business.
If you are looking for an ERP or enterprise app for your company, you should consider Orangekloud. They offer a wide variety of software for your company’s operations and is rated one of the top in Singapore. You should check them out above.
Everyone knows that ERP benefits your business, but how exactly does it benefit? Workwisellc shares more:
“Efficiency. An ERP solution eliminates repetitive processes and greatly reduces the need to manually enter information. The system will also streamline business processes and make it easier and more efficient for companies to collect data, no matter what department they’re working in.” Read more here!
Processes such as counting stock repeatedly or writing down the details of your stock on pieces of paper should be an activity of the past. This is because such information can get lost if stored on paper. But if it is input onto a form or a platform on your desktop, it would at least be retrievable anytime, anywhere. Even better if it is on the cloud, where you can collaborate with your team-members without having to meet up in office. This will come in handy if you are meeting on off days, or if one member is overseas but an emergency meeting needs to be called.
While many know that ERP generally aims to improve your productivity, not many realize another equally important aspect, which is that they lay out information about your company and it will be easier to pinpoint which aspect is not doing well. Anita Ann Babu writes:
“ERP systems can automate and streamline daily processes, freeing up your employees’ time to do things that actually generate revenue. For example, software can automatically tie sales orders to the accounting system, or run reports without the need for complicated spreadsheets.” Read more here!
When your staff have more free time, they spend less time on menial tasks and have more time to pore over the data that is now collected on your business. Also, from this data they can see if they are underperforming on certain areas and how to improve them. This way, they can take charge and be more accountable of what they are doing, and be more responsible over their own performance.
Lastly, before you decide to jump on the ERP bandwagon, you need to consider what type of business you are. If are a medium to large sized company, it makes sense to use regular ERP software that is able to manage large amounts of information and generate the data you put in. Select Hub writes:
“This is by far the biggest disadvantage to ERP software. The up-front cost of the entire implementation process can be prohibitively high, especially for small-to-medium-sized businesses. This includes the full process of planning, testing, configuring and customizing the software as well as the cost of actual implementation.” Read more here!
Hence, you should look for a cheaper ERP alternative if you are simply a smaller company that cannot afford the upfront cost of using one. Don’t worry as there are definitely cheaper alternatives created for smaller companies; you do not need to discard ERP and go back to using Microsoft Excel. With the improvement of technology, small companies are not left behind as well.
Having an ERP for your business is simply the first step. You would still need to diligently input and populate the data in order for the results to be accurate. Only when it is accurate then you can accurately assess the strengths and weaknesses of your company.