Small businesses face tremendous competition and challenges on the path to growth. Be it increasing productivity or profitability, small businesses have to deal with many limitations and constraints. Here, a cloud-based ERP solution lends a helping hand. It not only assists them to address such challenges but also makes them ready to grab new opportunities.
Various small businesses based in different industry sectors including retail, manufacturing, and automobile have to continuously explore new possibilities and the scope of expansion. Along with this, they need to focus on improving the customer’s experience and services. Cloud ERP for small businesses is designed to achieve these objectives effectively.
In this post, we are going to discuss the role of cloud ERP software in ensuring the growth of these businesses. But, before moving forward, how about getting an introduction to cloud-based ERP software?
What is a Cloud ERP System?
A cloud ERP system is an ERP solution that is accessible over the Internet. It has all the advanced features and functionalities to handle the core processes of an organization. It is typically an Enterprise Resource Planning solution run by the cloud.
Cloud ERP software is hosted on a third-party or a vendor’s cloud computing platform. Here, there is no need to purchase the software, but small businesses can use it with a monthly subscription fee. It enables businesses to save a lot of money in the form of upfront hardware costs, maintenance, upgrading, and storage costs. ERP solution providers take care of all these aspects and small-scale businesses can leverage the benefits of an up-to-date ERP solution.
Major Benefits of Cloud ERP Systems for Small Businesses
It is of utmost importance for small businesses to streamline core processes and handle daily operations effectively. Another important goal is to provide customers with flawless services and rich experiences. A robust cloud ERP system can serve these objectives with ease and reduces operational costs significantly. Here are the top business benefits of a cloud ERP system.
Quicker Implementation
Compared to a traditional ERP solution, a cloud-based ERP takes less time to deploy. Also, it is much easy to integrate into the existing business system. Small businesses can easily upgrade it with minimum downtime as and when necessary. As cloud ERP software is managed by vendors, small businesses can save time and resources in managing it. As a result, cloud-based ERP solution does not disrupt daily business operations and save additional costs.
Real-time Access
Real-time access to corporate data is crucial for the growth of small and large businesses alike. However, startups and SMBs face a lot of difficulties in accessing data at times. Cloud ERP systems, with their higher integration capabilities and advanced data synchronization, can give better accessibility on the move. It is possible to give a quick response to the customer’s queries and small businesses can eventually increase their profitability. Several advanced cloud ERP solutions have mobile access functionality that enables business persons to get access to necessary information on the move.
Increased Security
A cloud-powered ERP application safeguards confidential information effectively. There is a notion that an on-site server is more secure than a cloud server. However, it is completely wrong because cloud ERP systems can have additional security levels including end-to-end data encryption and authorization. As a result, you can remain assured of data safety and prevent your corporate information from going into the wrong hands.
Simplified Complexities
A cloud-driven ERP solution can streamline business processes effectively and simplify complexities. Here, it is not necessary to keep the solution or software in any particular department of your business. Cloud ERP software offers a centralized approach for managing operations and storing or accessing data. It also saves valuable time and contributes to reducing the operational costs of small businesses. Altogether, small businesses can increase their productivity and ROI over the period.
Rapid Recovery
Most SMBs find it difficult to get their data back after a man made or natural disaster. For example, in the case of a system crash or server issue, it is cumbersome to recover corporate data. A reputed cloud ERP implementation partner keeps the backup of your company’s data that can be retrieved when necessary. It eliminates the worry of data loss and keeps businesses ready for any unforeseen events.
How to Select a Cloud ERP System for Small Business
These days, several robust cloud ERP systems are available, and it is difficult to choose the right one for your business. Whether you own a startup or run a small business, it is imperative to select the ERP system that fits best to your business needs. You can consider the questions like- What are the challenges your business faces? What kind of features your business requires in an ERP solution? What are your objectives and medium to long-term goals?
Answers to all such questions can lead you to choose the most suitable ERP software for your business. You can look for basic features including accounting, human resources, CRM, and inventory management in the ERP solution. Finally, you need to consider budget, customization, integration, mobile access, usability, and market trends. These details can assist you to select an ideal cloud ERP that can increase the efficiency and agility of your business.
The Best Cloud ERP System for Small Business
SAP Business One Cloud is one of the most popular and advanced ERP solutions. It is easier and more affordable as compared to other ERP solutions available in the market. SAP Business One (SAP B1) can manage all critical business processes through its integrated modules for all core processes across different departments of the business. Here is the list of top modules of SAP Business One solution-
- Accounting Management
- Reporting
- Inventory Control
- Wholesale Distribution
- Business Integration
- Analytic
- Purchasing Support
- Supply Chain Management
- Financial Management
SAP Business One is specifically designed for managing the operations of small and mid-sized businesses. It performs well on almost all fronts including functionality, implementation, customer support, customization, and integration. What makes SAP Business One a preferred cloud ERP solution is the fact that it is easy to use. Even non-technical persons can use it after having some hands-on experience.
SAP Business One analytic, powered by SAP HANA, can provide users with actionable insights in real time. As a result, business persons can make informed decisions to ensure growth. Also, SAP Business One has excellent customization capabilities. Small businesses across any industry sector can meet their needs effectively with the help of SAP B1. Be it the ordering or inventory management, SAP Business One assists businesses to streamline processes.
Features like inventory control and customer relationship management assist businesses to improve their services and bringing automation to daily processes. Improved production planning and enhanced control over various operations can help businesses reduce costs related to supply chain, operations, and warehouse management. SAP Business One also contributes to minimizing wastage and enhancing delivery processes.
Wrapping Up
Be it safeguarding data or streamlining processes, cloud-based ERP solutions always remain handy for small and mid-sized businesses. These solutions can give a competitive edge over peers while assisting these businesses to achieve their objectives in a relatively shorter duration. It is fair to mention that the right ERP partner can work wonders by integrating cloud ERP software seamlessly.
