Does Your Business Needs an ERP?
In this start-up era, many new businesses and the government’s “Make in India” policy, are allowing a 360-degree growth. All this has been adding to the nation’s overall development. Besides, high competition is helping business owners grow at a fast pace. Keeping up with such rate of growth is difficult for single-handed management.
This is where comes the need to have a virtual brain, which controls all the management’s body functions. That is when ERP comes into the picture. ERP is used in businesses, whether big or small, to manage and integrate the processes constituting a business model.
The process may include things like planning, procurement, production, packaging and logistics, accounting, finances, sales, or administration. ERP can help you manage them without any error and much hassle.
Following is a checklist that helps you decide whether to invest in ERP or not:
1. Need to establish control over software and/or mechanism
If you have found yourself struggling, to establish disciplined management between various processes of your business, ERP is the solution for you. It works as a central mechanism, that governs and ensures a smooth flow of the process in a business model. It connects the dots of these processes, establishing a strong link between each. ERP in a business acts as the nervous system of a human body. In other words, it helps manage and coordinate all the functions.
2. Need a data management system to handle information
If yours is a big business, you need an ERP. Besides, even if it is small and you’re planning to expand, you need ERP. It is because businesses need to maintain real-time data. So that, the process which is being carried out can be completed smoothly. ERP is composed to store, process, manage and circulate a large amount of real-time data, across all business processes. Also, the fact that big data handling and business pace, work hand in hand, creates a need to have an ERP system.
3. Accounting has outgrown from being of a manageable size
If you have a growing business, and your accounts department is having a tough time making it through. You are in need of ERP systems. The first requirements of an ERP, come from the accounts department. It is because they have to keep a constant record of cash inflow and outflow. Such figures have to be precise and consistent. Moreover, correct calculation and maintenance of such data is vital. And ERP helps to do it the best!
4. Mismanagement resulting in low productivity and sales
Large data, more number of disparate software, unsynced apps, and repetitive procedures, lead to lower productivity from both men and machine. ERP helps systemize and approach data centrally. It compiles and allows access to information from a single dashboard, across all processes. This helps in regularising and maintaining inventory, cash flow, demand, production, logistics, sales, and administration.
5. IT is time-consuming and complex
The number of data sheets, software, operational systems, and applications, make manual handling or management difficult. Besides, it even makes it a time-consuming and complex process. This further results in data processing errors, and loss on part of sales or productivity. ERP centrally facilitates by organizing data and simplifying its handling. It allows the owner to have a quick and easy system, which is efficient enough to run an enterprise business.
6. Strengthens security
A large business has its own need for management procedures. A business model not only needs to be accurate or precise. But it also needs to be a strong and robust system. Manual management and unsynced applications create a lot of loopholes leading to a system breach. Whatever your business is, you should not welcome corrupt data and unsafe sources. ERP helps eliminate such information. Instead, it provides a secure and manageable platform with no loopholes.
ERP software nowadays, make a flexible platform. This can be customized according to your business needs. All these features make the ERP agile, error-free, and hassle-free, for a business owner to work efficiently. Not only does it save time, but also helps in cost reduction. Thus, it is worth having an ERP. Especially, when you find your business being mismanaged and are losing clients constantly.