Your ERP software is your backbone. It's the system that holds your business together and ensures you're doing everything correctly. However, choosing an ERP Software for Small Business, that suits their needs can be a difficult task, and many businesses make the wrong choice. To help avoid such mistakes, we've compiled information on Intelligent ERP Software for Small Business to protect against that inevitable problem.

What is ERP Software for Small Business?

Enterprise Resource Planning (ERP) is business management software that helps firms manage business activities through a single system. This concept appears easy, but it is frequently not, and it may be game-changing, especially for small businesses.

An ERP software system is a collection of modules that all work together in a single database that acts as the master source of enterprise data. ERP is primarily concerned with accounting and operations and includes modules like inventory management, project management, human resources, supply chain management, and others. Sales, marketing, manufacturing, inventory, and e-commerce are among the other functions covered by ERP software.

Your small business's priorities are unlikely to be the same as those of a larger corporation, and your ERP Software for Small Business software should reflect this. Some common small business difficulties that Intelligent ERP software can assist in resolving to include the following:

  • Manual Process of data entry
  • Disparate systems, with little to no visibility into company data
  • Inadequate reporting and analytics
  • Limited information outside of the office
  • Inefficient Workflows
  • Difficulty faced in decision-making

An ERP solution offers business information, a range of tools for reporting and real-time analytics, the capacity to automate tedious procedures, and is simple to use. However, not all ERP software is the same; selecting the appropriate solution for your company is a critical stage in the ERP adoption process.

Features to look for in an ERP Software for Small Business

Analytics and Reporting

Analytics is essential in today's environment. For businesses that want to stay on top of business trends, performance, and KPIs, an Intelligent ERP Software for Small Business with embedded business intelligence, analytics, and reporting is essential. Why pay extra for a separate and detached reporting system when an ERP with the same built-in capabilities is available?

Hosting

What is the size of your organization, and how strong is your internet connection? Is your IT assistance in-house or outsourced? There are numerous major issues to consider when deciding whether to host on-premises or in the cloud. Before making a decision, organizations must consider everything—what works for one company may not work for another. Look for Intelligent ERP Software for Small Business providers that provide both. This would give a better perspective on the hosting solution to go for.

Mobility

Mobile access is one of the most significant elements for any firm searching for new software in this day and age. Mobility, particularly for firms with field staff, helps keep projects moving when information is required at any time and from any location.

Social Channel Integration

Social media integration is an important feature of next-generation Intelligent ERP Software for Small Business. The option to share to sites like LinkedIn is critical for firms that wish to keep linked to other members of the industry via their social networks. Integration with social channels like Telegram, Messages, and Outlook also can work as intelligent alerts to keep the stakeholders updated.

Automated Bots

There are several tasks in each business that require no human interaction, are repetitive, and require a significant amount of manual work. Organizations, for example, lose time and money by using manual processes to obtain, assign, and approve bills. Invoice processing is the act of receiving an invoice and processing it until payment is recorded. RPA can be used to automate and improve the efficiency of invoice processing. There is no need for human interaction to update all the data in the proper systems. RPA automates the process of collecting vendor invoice data and sending it to the target system.

Selection Process of ERP Software for Small Business

  • Learn about what's available:

    When you're ready to make the purchase, you must first conduct market research to learn more about your features, functionalities, and pricing possibilities. While ERP software suppliers' websites contain reams of material, it's easy to get lost in the technical and marketing language, but you can still obtain a fair understanding of their product offerings.

    You can learn about the different vendors, what they sell, and what their customers think; you can even compare functionality and price across prominent competitors.

  • What does your company truly require?

    To answer this question, make a complete list of your "actual" business requirements—what you need now and what you expect/anticipate needing in the future as your organization expands. Compare your list to the various ERP Software for Small Business vendor options to see who comes out on top. Discuss your actual business demands with other managers, such as those in R&D, Sales, and Accounting, to gather thoughts on efficiency and productivity that can assist you in creating a shortlist of eligible candidates.

  • An ode to the RFP

    Many ERP Software for Small Business vendors can assist you in developing your needs list and will offer you a Request for Proposal (RFP) template. Typically, the RFP will include a list of features and functionality for the ERP system in question. It's a practical, effective, and extremely beneficial tool for determining who your prospective seller is and what they have to offer. Once you've identified your existing (and future!) requirements, you may utilize this RFP to evaluate the strengths and capabilities of various providers.

  • Money and Sense

    Without a doubt, the cost of an ERP system is a major deciding factor. Because small firms often have limited IT expenditures, understanding the various pricing models available (and there are many!) is critical. As a small firm, you may prefer a cloud-based Intelligent ERP Software for Small Business to an on-premise solution that necessitates significant hardware and infrastructure costs. Cloud ERP allows for cheaper capital requirements to gain access to innovation, as well as better and faster scalability and automatic upgrades. What's the bottom line? You'll be able to reduce operational costs while achieving a faster ROI with significantly shorter deployment times.

  • It's time to make a decision.

    When you're ready to proceed, create a shortlist of potential ERP Software for Small Business vendors using a precise list of criteria and expenses. But you're not finished yet. You should request, each of your prospective vendor’s demos of the system for you so that you may see what you're going to buy first-hand (or not). Make sure to include a "demo script" so that you can see your company's actual use case in action. You should also question colleagues and peers, if they are accessible, whose ERP systems they use and whether they are satisfied with the software as well as the vendor's post-sales support and service. Finally, request a list of references and contact them!

Are you ready to choose now?

Before you commit to an ERP vendor, make certain that all of your questions and concerns have been addressed - and answered. This is a significant achievement for you and your company. While the purchasing procedure may be straightforward, keep in mind that every new software system may experience bugs, downtime, and hassles. Remember that your freshly purchased ERP Software for Small Business is there to assist you in managing, controlling, and growing your business!

Eastern Software Systems has served over 1300+ clients worldwide, meeting the needs of 20+ industrial verticals while also catering to the needs of Small Businesses. ebizframe Intelligent ERP Software for Small Business is customized based on the specific requirements of your business. Contact us today at marketing@ebizframe.com and book a free demo today to learn more about how we can help you transform your business.

Get Free Demo