Small and mid-sized businesses are likely familiar with enterprise resource planning (ERP). However, given the software name and its presumed use by large enterprises only, some SMBs may not think such solutions are really for them.
However, by not investing, SMBs may be missing out on a couple key benefits they can realize by using ERP. Though such systems are often used by large businesses that qualify as enterprises, SMBs can still leverage right-sized solutions to take advantage of the automation, organization and integration that ERP software can grant users.
Here are three ways companies can use ERP for SMB purposes:
There are myriad codes and rules that businesses have to abide by, whether those relate to financial accounting, health care, employee benefits or time tracking. Some companies may also need to adhere to agreements made with supply chain partners. When SMBs only use pen-and-paper methods to ensure they meet compliance and report any discrepancies, they set themselves up to encounter considerable risk should a document be misplaced or a small human error made. One of the benefits of using ERP in small and mid-sized business situations is it can give users both a greater and more nuanced view into their compliance requirements.
Shared source of data
It's easy for informal SMB processes and workflows to become fragmented, which can lead to misinformation and all-around negative effects for the business. ERP is mainly used by large corporations to break down data silos. and while SMBs might not expect ERP to act on the same scale, they can certainly use such a solution for the same purpose. Getting ahead of the curve and uniting your departments, employees and decision-makers through a singular, shared source of data (the kind ERP can produce) helps SMBs optimize operations and prepare for the future.
No matter the size of your business, there's always some costs to trim here and expenses to cut there. With ERP, SMBs not only have greater clarity into those areas, but also the means to generating the cost-savings they desire. Using an ERP system to automate certain tasks can free up employee time and company resources, which can then be reinvested or directed at more important projects.
Because SMBs are often so understandably hesitant when it comes to ERP, finding a trusted vendor who understands your unique needs and limits is crucial. Contact ICS Support today to learn more about how we can help your SMB right-size ERP tools so you can enjoy the benefits possible through using such software.