Generally, the thinking goes that the expense of this technology is prohibitive and the features are unnecessary.
However, in reality an enterprise resource planning (ERP) solution is both an accessible and necessary tool for small businesses, as well as startups. Here’s why:
Jump Start Productivity
Being productive is essential for any new business. This is simply because being productive usually equals being profitable. An ERP streamlines operations, introduces efficiencies, and alleviates friction in a way that has a direct impact on the bottom line. Every business has an incentive to accomplish as much as possible as early as possible.
Hopefully, if you're doing it right, your startup is living in a perpetual state of growth. During this fast-paced evolution, it’s essential for all parties to have access to all information at all times. In the absence of an ERP it is easy for this data to get lost or just buried in departments that might not be available to everyone. Breaking down those silos and making data universally accessible eliminates the kinds of confusions and conflicts that limit a startup’s growth potential.
It is imperative for all startups to leverage the full potential of their staff. With an efficient ERP in place, everyone on the team can freely share, access, and update the most current information possible, creating a number of opportunities for collaboration. This would naturally empower any small business to do more with less.
Startups can’t afford to waste money. Paying for multiple applications, as well as the costs of data management, is exactly the kind of waste these small to medium-sized businesses are trying to avoid. An ERP accounting tool is a single product with a single licensing cost that streamlines and automates the kinds of tasks that distract staff from revenue-generating opportunities. The upfront cost of an ERP system might seem significant, but the long-term savings are far more significant.
Generate Business Insights
Small businesses have to put up a mighty effort to gain market share and competitive advantages. For that reason, careful, reasoned, effective strategizing is essential. Without having access to all relevant data - that is optimized with smart features for analyzing and forecasting - in one place, this would be nearly impossible. An enterprise resouce planning software provides exactly the kinds of tools startups need to make their mark.
Company culture is especially important in the small setting of a startup. Just because ERP is a tech tool doesn't mean it won't have a powerful impact on how your team interacts with one another and defines their individual roles within the company. Enabling everyone to share information and contribute to projects, fosters an open, positive, and innovative culture that is sure to pay dividends down the road.
If the cost or complication of implementing an ERP still seems prohibitive, consider the variety of ERP options on the market. There are a number of products available that will fit into your budget, conform to your workflows and business objectives, and minimize your IT burden. Don’t write off the exciting potential of an ERP before first investigating the full range of options available to your startup.
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