Enterprise resource planning is one of the critical steps a small business can take in order to strengthen its growth. From managing its orders to handling a variety of inventory management tasks, the business can benefit in so many ways from the ERP solution it chooses. The actual benefits however depend on the customized solution implemented. ERP is a concept that has been around for quite a long time now. Today you will find numerous options in ERP both for small and large sized businesses. And based on the ERP solution provider you choose, it is possible to get support from the consultation stage right up to implementation and maintenance. So, if you have plans to choose ERP software for small business in India, here are a few things to look for. These essential features make sure that you get the best value for the money your business puts into this step.
Essential ERP Software Features For Small Business
Though there are endless possibilities in an ERP solution for small businesses, here are some essential features that will bring the best value for money.
1. Inventory Management
Though inventory and warehouse management can also be integrated as a standalone module, having it as a part of your ERP streamlines the processes a little more. You can always expand to an automated warehouse system later on if your warehouse management brings in specific challenges. But a basic level of inventory management should be part of the ERP solution you choose.
2. Accounting Related Features
Accounting takes up a lot of time for a small business. Setting up different accounts for vendor and client interactions and tracking the multiple streams of inflow and outflow cash can be challenging. If the ERP can take care of this, it can help in better budgeting and financial projections as well. So, when you compare your options while choosing an ERP software for small business in India, look for one that comes with robust accounting features.
3. Analytics
Business analytics is a feature that any small business should think about from the early stages. There might be several unpredictable factors that make it difficult to understand whether the small business is making progress. To track if the business is on the right track and to monitor the performance to identify hurdles for growth, business analytics features in an ERP software can be handy. And when this is backed up by a reliable reporting module, it is even better for the business to interpret the analysis made.
Business One from SAP is one of the most popular ERP solutions available for small and medium sized businesses. And to get this solution businesses can work with authorized partners. They can explain the features and the various modules a business can pick. Besides the basic implementation, the business can also continue to add upgrades and business-specific modules to expand the capabilities of the implementation. So, if you are planning to choose an ERP software for small business in India, explore the Business One partners to get a brief idea on what to expect from this implementation. This also makes it easier to compare your option and choose whether you should go for a local ERP or Business One.