5 signs it’s time for your SME to implement ERP
If you’re an SME owner-manager, you’ll be well aware of how rapidly things change as your business grows. With growth comes more data, more jobs and transactions, and more employees. An ERP solution may be just the thing you need to help you manage everything across your various business systems.
Or it may not. Maybe you just need to hire a project manager with some experience in your industry, or invest in more basic software. The implementation of ERP isn’t a silver bullet for SME growth pains – it’s something that you need to think about carefully by evaluating what your business is struggling with, what you would like to achieve, and aligning this with the right software.
If you read through the following signs and they sound all too familiar, it could be true that an ERP solution is exactly what you require:
1. Too much data entry
A big sign is that you’re spending countless hours punching numbers into your computer. Not only does this waste time, it’s tiresome, boring and could kill staff morale. And, it’ll only get worse as your business grows. Managing your finances, stock levels and the like can, and should, be an automated process underpinned by an ERP solution.
2. High rate of error
What’s more, an excessive amount of data entry isn’t just a source of wasted time and staff frustration. When combined with a lack of visibility into what’s going on in your business, it can also contribute to a high rate of error – resulting in work being carried out incorrectly and unprofitably, as well as dissatisfaction amongst your customers.
3. Reactive rather than proactive
A high rate of unforeseen problems, time and budget overruns, staff churn and customer dissatisfaction are all signs you need to improve your business processes and the way you manage resources.
4. Lack of reporting
It’s hard to run a competitive business in the current climate without the right performance data at your fingertips. Without decent reporting, you may never identify problems that are preventing your business from unlocking its full potential. An ERP solution will be able to analyse the data across your systems and help you make the right decisions for continual improvement.
5. You’re looking to sell the business
Finally, the implementation of ERP can also increase the value of your business if a sale is on the cards. You’ll have easier access to the information your prospective buyers want to see, such as historical performance data, sound accounting principles, projections for future growth and more.
If a few of these signs ring true to you, it could be time to look into an ERP solution for your business. However, we understand there’s a lot to think about and to manage when your business is growing, and it may not be easy to ensure your ERP solution is built on the right foundations.
That’s why we’ve written our new guide, How to solve process problems and prepare for growth. Click the link below to download your copy for free.