Managing a business is a challenging task that requires great effort. In today’s digital world of high-caliber applications and workloads, the use of a conventional system to control business processes remains inefficient to get the desired results. Cloud-based software is increasingly the first choice of any growing business. Implementation of a Cloud Enterprise Resource Planning (ERP) in Small and Medium-sized Businesses (SMBs) can surely result in significant changes in business operations. It allows SMBs to handle their vital business processes, accounting, and supply chain all in one place for a small upfront cost and a high return on investment.
When an SMB begins operating, it uses tools like spreadsheets and accessible free tools. While this is preferable to retain costs at first; it often influences the development and expansion of the business. As businesses start to scale, accounts become hard to manage. This is the time to leverage ERP.
Why Do SMBs Need A Cloud ERP System?
ERPs are inevitable in the present world and the software permits customers to access its systems through a web browser. A cloud-based system works on remote servers controlled by a third party. It is a reasonable approach for small and medium-sized businesses and offers modest benefits for growth and expansion. SMBs have now started to implement ERP software systems to scale business operations, efficient data flow, create a competitive business atmosphere, better cooperation with various stakeholders.
Learn more about cloud ERP and how it ideally suits the ‘small and medium-sized business’ model in this blog.
• Risk Handling
ERP enhances risk mitigation in your business because ERP systems are reliable and precise and capable enough to notify the user about the potential risk.
• 24/7 Access to Your Business
The cloud system allows employees to access the system 24/7 from virtually anywhere from the world. It offers real-time data sync hence improves business insights, which fortify you with better, data-driven, and informed decision-making.
• Better Customer Relations
Customers are king for any enterprise. Every successful company relies on better customer relationship management. A well-designed ERP software assists you in better customer service.
• Easy Management
The aim of ERP lies in softening the management responsibilities. Implementing an ERP lets you plan processes in advance and budget them correspondingly. Budgeting effectively can assist you in forecasting and evaluating the financial success of your small or medium-sized enterprise. It retains your valuable time and money. The use of cloud software aids in the monitoring of regulatory activities.
• Lower Initial Cost
Cloud-based ERP systems remarkably turn down the initial costs of maintenance, configuration, licenses, upgrades, and implementation compared to conventional ERPs.Also, it decreases the cost of hardware and software along with the need for an IT staff.
• Security and Integrity of Data
Adopting cloud software provides high security and integrity to the data. It offers strong and efficient data protection, minimizes data loss, and reduces redundancy. It provides multiple layers of encryption to increase the security level of data, ensuring they are safely stored.
• Better Inventory Management
ERP software helps online inventory management, which is time-saving. Using a centralized system can increase production and output in a brief time period. It can gives an optimized and systemized process with the finest inventory modules, lowering inventory cost. Definitely, it can increase efficiency, allowing the organization to get products or services to the users on time at a lower cost.
• Fast Implementation
A typical on-premise ERP requires plenty of time for planning, resource allocation, and interference of business operations, establishing and maintaining the software. This can create a time delay in all the business processes.
Cloud ERP is known for - quick implementation, and seamless upgrades. It is managed by third-party vendors and offers easy software setup. Businesses need not necessarily invest a substantial amount of time during the implementation process.
ERP system just simplifies and also scales easily, as it balances the whole infrastructure to the appropriate size for each phase of your company’s growth. Its optimized built-in feature provides IT sources with versatile levels of scalability. The wide range of flexibility and adaptability that can lead to a company’s business operations can directly raise competitiveness. This aspect is reported as leverage for SMBs that challenge competitors.
Why Consider NetSuite Cloud ERP?
There's a common misconception among small and medium-sized companies that they don't need to invest in ERP systems. However, if they want to run their business hassle-free, they must invest.
NetSuite is a software platform that provides end-to-end solutions for small companies and created to break down data silos and remove data congestion from different applications. It now serves a diverse range of enterprises, from start-ups to multinational corporations. NetSuite is a world-class ERP that offers small businesses cost-effective solutions.
Let us discuss some of the core areas where NetSuite Cloud helps small and medium businesses.
1. Better Performance
On-premise requires constant maintenance in order to keep it functioning with the highest efficiency. A cloud-based system like NetSuite only needs a stable Internet connection to work with proficiency.
2. Real-Time Data Access
Real-time data access has many benefits like higher integration capabilities, quick response to customer needs, immediate updation, and better accessibility. All of this is possible if you select NetSuite software for your business operations.
3. Improved Information Sharing
ERP software helps to carry relevant data across all departments in an efficient manner to improve business operations. Since NetSuite cloud software is easily available via the internet, any authorized employee can connect to the system at any moment from any place to get updated data.
4. Rapid Disaster Recovery
The cloud-based ERP vendor takes strong measures to keep backups of data so they can easily recover whenever needed. This eliminates the worry about data loss.
5. Reduce Operating Cost
NetSuite ERP updates automatically - yearly twice - to keep your product always up to date. No cost involved in this update, unlike on-premise software.
6. Increase Data Security
NetSuite has several layers of encryption to secure important data stored safely. Users can easily access individual accounts; however, admin can restrict the accessibility.
7. Simplify Complexity
NetSuite streamlines all business processes. This simplified method can save time and allow employees to concentrate on implementing new business growth ideas.
How Small Businesses Can Afford ERP?
A Netsuite system aids finance, sales, and marketing departments in gaining customer data and optimizing customer experiences. Also, it can easily adapt to the current digital transformation technologies that can generate leads in the business.
Looking for a quick NetSuite implementation? Get in touch with our experts at Jobin & Jismi.