Making smart decisions in a small business is just as essential as in a major enterprise, and you need proper tools to help you find solutions. That’s why it’s necessary to have an Enterprise Resource Planning application, commonly called ERP software, to help you consolidate data from numerous departments and analyze business operations.
Even in a small business, things can easily go awry if you don’t keep up with details. Far too many small businesses allow minor issues fall through the cracks and become big problems because they have a small staff and assume everyone knows everything that is going on.
ERP software for small business comes in different forms, however, so it’s important to understand what type you really need for the best success. The point of this is to get all your departments in the know about what’s occurring to improve business operations. It can cover everything from inventory management, accounting, and customer relationship management.
So what kind of ERP software does your small business need? Let’s take a look at some options.
Types of ERP Solutions
You may prefer using an on-premise ERP software solution if you’re used to using your own server. Not everyone prefers this because of the added cost of maintaining a server, even though ERP software systems integrate well with your existing infrastructure.
While you’ve perhaps felt undecided about using the cloud, ERP software is available through a cloud-based system as well. This works as a Software as a Service platform, which is a standard feature through cloud providers. ERP through the cloud provides setup and maintenance so you won’t have concerns about expenditures when working with a small business budget.
Other small businesses prefer a cloud-hosted ERP software system where you can use a hybrid system combining on-premise and cloud. Price is very affordable with this option, including better mobility capability when sending your staff into the field.
Accounting and Finance Options
Keeping on top of your finances is imperative in your small business to maintain cash flow and analyze sales figures. All of these could hide critical details without complete access to everything.
A quality ERP software system lets you handle cash flow management so you never find yourself in a financial emergency. The same goes for budgeting and forecasting to properly look ahead without having to do second-guesses.
Accounts payable and accounts receivable have more thoroughness and connectivity so your accounting team scopes out figures they’d otherwise miss. They can access this information at any time through the cloud to weed out discrepancies.
Plus, with a general ledger, financial figures go in one central place so you don’t have to deal with a paper-based system. Reports get created digitally and instantly shared if you can’t take time to hold meetings in person.
Tech Support When It’s Necessary
You shouldn’t choose any ERP software solution without proper technical support available at all times. Since your small business staff may use your ERP system during off-hours, unresolved technical problems could interrupt important work projects.
A dedicated team providing support 24/7 is imperative since work doesn’t always stop after 5pm or on weekends and holidays.
Providing Backup Services
With so much data in the cloud, you want to keep it safe in the event you experience a disaster. Fortunately, a cloud-based ERP software helps keep all your data protected for instant retrieval if a sudden disruption impacts your small business. It’s a major feature to consider when choosing an ERP platform in a world that’s unpredictable.
We can provide all of this for you here at CompuData. Contact us to find out more about our ERP software solutions, along with our Managed IT and Cloud services.