SMB ERP’s are coming to Town! – Part 1
Small Businesses (SMB) Enterprise Resource Planning (ERP) software has evolved greatly over the last ten years. If you own a small business, consider using SMB ERP software. Generally SMB ERP software is very easy to use and less expensive than robust big business packages. However, shop need versus price. All too often small businesses shop price and end with something they don’t need. Shop functionality and compare the various SMB ERP vendors.
When deciding whether your small business needs an Enterprise Resource Planning solution, run the numbers to determine your return on investment. Consider how much money you’ll save by automating certain process, for example. Determine how an SMB ERP solution will compensate for your inefficiencies. Examine how many errors your current system causes and how much money those errors cost your small business. Take at look at your capital and make sure you have enough for unexpected SMB ERP issues. Calculate the amount of time it will take for your SMB ERP solution to pay back the money you plan to spend. Find the gaps or weaknesses in your current SMB system. You might have no gaps or weaknesses in your current SMB system, but you need an SMB ERP because your business is growing. Whether you need an SMB ERP to fill gabs or because your business is growing, selecting the right SMB ERP can be difficult.
Before you purchase an SMB ERP, create a budget and stick to it. Small businesses often go out of business because they run out of money. It’s best to be conservative for the longevity of your small business. Be conservative without sacrificing functionality needs. If you plan to grow substantially, find a SMB ERP vendor that can accommodate growth. If you need help deciding which SMB ERP best suits your needs, demo different products, involve your employees, and get as much feedback as possible.
SMB ERP solutions come in many forms. Some popular options on the market include; open source, Software as a Service (SaaS) and licensed software. Open source is becoming a hot new trend. There are many pros and cons to open source SMB ERP. However, it is probably worth your time to explore open source options. SaaS has also grown in popularity and SaaS vendors offer support services. With open source you are generally on your own. Although, because open source is popular, there are now companies that offer support services.