In this competitive edge, no business can survive without maintaining productivity and making real-time decisions. Be it a startup, SMB, or a large, established business, improved services and enhanced performance hold the key to success. There, customized ERP software can lend a helping hand.
Once Enterprise Resource Planning (ERP) was considered a luxury as only large companies could afford it. But today, thanks to advancing technology, SMBs, and even startups can leverage the benefits of ERP solutions. There is no exaggeration in mentioning that customized ERP software can give SMBs a competitive edge by enabling them to use technological advancements. While integrating all the fundamental processes including human resource, finance, and production, a tailored ERP system brings efficiency and visibility in all major aspects.
ERP software and automation go hand in hand. The ERP software can automate key business processes and SMBs can get the benefits of reduced operational costs and superior quality products. Let’s go through the top benefits of ERP software and business process automation in this article. We will start with the benefits of a tailored ERP solution.
Five Benefits of ERP Software for Small and Mid-sized Businesses
ERP systems are designed to fetch data and analyze it for providing actionable insights to entrepreneurs. These insights enable the management to identify any potential challenges or opportunities quickly. As a result, the management or entrepreneur can make informed decisions instantly. For example, the finance department can quickly evaluate orders and stock levels using an ERP, and the management can make decisions on resource allocation and investments based on this data.
Efficiency and productivity
Custom ERP solutions help SMBs automate routine tasks to improve their efficiency without hiring new people. More clarity of tasks, reduced mistakes of employees in various processes, and streamlined processes are possible with the ERP solution. Streamlined workflows further lead to higher productivity as employees can focus easily on more demanding tasks. They can easily accomplish more tasks at the end of the day, which translates to higher productivity.
Accountability and transparency
An ERP system brings a centralized database for the entire company. Everyone can easily access important corporate information anytime and share it with ease. It can bring more accountability and transparency to the organization and improve collaboration between employees and the management. Increased accountability can also help SMBs reduce manual errors.
Also Read- Five Reasons Why Small and Medium-sized Enterprises Need ERP Solutions
Centralized data display
ERP ensures that all the information gathered from various departments and processes are integrated into a single, central database. Simply put, an ERP solution gathers data from all the departments of SMBs including sales, inventory, accounting, and production. It displays the data and real-time reports based on this available data on a centralized dashboard.
Business performance monitoring
ERP software for manufacturing and other industries can update information in real-time. Therefore, small and mid-sized business owners can monitor the performance of different areas and identify the loopholes easily. Once they find the proble , it becomes easy to deal with it, and, in a way, SMBs can improve their performance over the period.
A feature-rich ERP solution can also reduce the work burden on employees. It is easy to streamline the workflow and get access to critical corporate data in real-time using the ERP. SMBs can improve their services significantly, and as a result, their relationships with customers remain better.
Now, we will go through the major benefits of business process automation for SMBs.
How Business Process Automation Benefits SMBs
As the name suggests, business process automation (BPA) is aimed at automating core and support processes across various departments of your business. From processing the payroll to keeping track of inventory, BPA has a vital role to play in various operations. An ERP solution can assist you to automate mundane and repetitive tasks through the BPA concept. Here are the top benefits of BPA for small businesses.
Higher operational efficiency is one of the biggest benefits of BPA. It is possible to reduce the effort necessary to accomplish that tasks by bringing automation. With BPA, repetitive tasks can be easily automated, which eliminates the need for hiring new people and increases operational efficiency at the workplace.
Reduced Human Errors
Automation minimized human intervention. Mundane tasks like data entry and inventory tracking can be easily performed through ERP and business process automation solution. When human intervention or effort is almost nil in performing these tasks, we can get rid of the chances of human errors.
The BPA solution can assist SMBs to comply with prevalent standards and regulations. It ensures that businesses keep the best practices while improving and automating processes. It gives more control and improves corporate governance while saving companies from large penalties and fees for not following existing rules.
Improved Work Allocation
Another major benefit of a business process automation solution is companies can easily assign tasks to their employees according to their talents. As a result, employees work more enthusiastically and happily while remaining satisfied with their work. Better workforce allocation can lead SMBs to success in a short time.
Both ERP and BPA are useful for reducing operational costs and offering actionable insights based on the analysis of the company’s valuable data. The management can make quick decisions based on these insights and SMBs can get better business outcomes quickly.
In a nutshell, we can mention that both business process automation and ERP software can lead modern businesses to grow. SMBs can leverage the benefits of evolving technologies to remain profitable and competitive with the help of tailored ERP software and business process automation.
Matiyas Solutions is a reputed ERP service provider. Headquartered in India, we have delivered the best-in-class ERP software for manufacturing, healthcare, retail, and other core sectors across the MENA region, Canada, and Armenia. We understand the issues of startups and SMEs and research extensively on market trends while developing and implementing customized ERP solutions. We assist businesses to survive and thrive by transforming various processes digitally and bringing automation.
Our customized ERP solutions can be useful for all major industry verticals including healthcare, manufacturing, oil & gas, retail, trading & distribution, non-profit, and public sector.