How ERP for SMEs can save you time and money. One of the main questions executives ask when they are considering whether or not to invest in ERP software for SMEs is, how will this system help me save time and money? This is a very reasonable and understandable question. At the end of the day, why invest in something that wastes resources that are so valuable to your business?
If you are still looking for reasons to take the big step and buy an ERP system for your small or medium-sized business, you may need to take some time to read this post. We will show you some ways in which an ERP for SMEs can help you save time and money.
Ways an ERP for SMEs can help you save time and money
Any tool that manages to automate work allocation and workflow is a great help in saving a lot of time and money.
An ERP is a system capable of providing overall visibility of work and resources across your entire business.
This means that you can see in real-time how materials and resources are being managed to detect failures or misuse, as well as any other malpractice that may be affecting the performance of your company’s processes.
Minimise administrative costs
Without ERP software, it’s often impossible to link operations, services, and customer information. This can double, triple or even quadruple the amount of time it takes to get information and the amount of administrative staff required.
By contrast, when you have ERP you have everything in one place and with it, the time spent dealing with customers is reduced, which means higher profits and happier customers.
Management costs under control
Management costs can also be drastically reduced when an ERP system is installed in a growing small or medium-sized business. With this technology, executives can rely on up-to-the-minute reporting and dashboards that provide up-to-the-minute analysis of the business or department. This can help save time – teams no longer have to spend hours gathering information that may be out of date.
Similarly, with ERP, triggers and alerts can be set up to highlight exceptions – anything that poses a risk to the company’s financial health will be immediately notified to management.
Finally, another way an ERP can help keep management costs under control is by providing an overview and status of each project. Managers can monitor in real time the true cost of each project as it’s being carried out.
This also applies to the budget allocated to human resources. Without an ERP system, it’s difficult for management to have a full understanding of its workforce, efficiency and training requirements. With this software, up-to-date data on employee performance and all the budget information allocated to this important part of the business can be obtained.
Inventory in order
Inventory is undoubtedly one of the areas in which almost all growing companies tend to waste time and money. That’s why most of the ERP software for SMEs on the market has comprehensive functionality to optimize inventory management.
For example, with such a system, excess and understocking can be reduced because it provides a complete overview of the stock holding, thus avoiding stagnation and loss of goods.
On the other hand, an ERP software allows the forecasting of stock requirements, taking into account year-to-year figures or other variants that may affect demand provides reports on wastage, returns, exchanges, replacements, and more.
How ERP for SMEs can save you time and money. This is very important so that you are not left with a warehouse full of products that do not make money for your company or that need to be repaired or returned to the manufacturer.
Other ways in which an ERP saves you time and money on inventory is by providing visibility of stock location and providing a stock valuation, the latter of which allows you to understand what the costs of warehousing and cash flow are.
Time is money, and with money your business can do a lot of things. With ERP software it’s possible to increase your company’s profitability through its ability to optimise business processes, save costs and remove the barriers of time and place that do so much damage to businesses.
The perfect ERP software for your copmany
If you feel that your company is experiencing accelerated growth but still can’t make enough profit or control its resources, it may be time to purchase ERP software. In Innatos Software we have tailor-made ERP software for the needs of your company.
ERP is a simple but powerful tool designed especially for growing businesses. It can help you improve your business processes, maximise your operation and give you the boost you need to operate like a big business and succeed in the marketplace. Manage in a comprehensive and transparent way various functions of your company such as finance, sales, customers, inventories, operations, among others and get the information you need in real time for decision making.
Globalisation means the appearance of new competitors in the markets but, at the same time, it helps companies to enter other countries and reduce costs. This is an aspect that only companies that are prepared for it will be able to use correctly.
These solutions, now known as enterprise resource planning (ERP) software, centralise the input of information from each area and make it available to the rest of the company in real time to streamline processes and decision-making.
But what is the main benefit of this increased control and agility in your company’s processes? Time and cost savings. To achieve this, there are five concrete steps in which an ERP helps to reduce a company’s costs.
Increasing visibility and control over your business. Time is money. That’s why an ERP system is perfect for unifying all processes and areas of your company.
Watch out for the smallest mistakes. Don’t tread water and solve as soon as possible those small daily difficulties that can lead to losses.
Multiply the efficiency of your administration. Avoid mistakes and double your time with a unified system that shares information. Unlock resources. How ERP for SMEs can save you time and money. Not reducing your costs is a cost in itself. Optimise and plan your management to avoid unnecessary expenses.
Increase your competitiveness. Translate cost savings into benefits for your customers and you will increase your demand. In short, ERP management is the first point of maturity of a company, it’s the electronic and computerised tool that allows structuring all procedures. It’s vital to take these aspects into account in order to get the most out of the implementation of such a tool.