ERP implementation is a must have for any forward-looking organization that wants to remain competitive in the face of evolving market trends and business demands. It successfully integrates the various functional areas of any commercial organization into one unified system.
The modules for ERP system for small business typically comprise of software components such as accounting and finance, materials and production management, HR, CRM and SCM.
How ERP adds business value in current context?
When speaking of the current times, the IT sector is ever developing, witnessing drastic changes and at the same time, is ever open to adopt and follow innovative and new technologies. The same is the case with ERP technologies.
The global ERP Software Market is expected to make commendable progress in the years to follow. Research studies forecast approximately $47 billion worldwide revenue for ERP implementation in the period of 2017-2022. This translates to a 7% CAGR year on year.
ERP implementation supercharges business value for a range of industry verticals. Hence it is no surprise that many industries are opting for a robust ERP system for small business. Let’s see some verticals where ERP solutions can create a truly radical impact
1. Property Management
With the ERP solutions, the property businesses are able to manage their work well, thus integrating all its functional areas into one solid unit. The present property owners are making great efforts to maximize the revenue flow.
An ERP as a small business software into the property area, can carry out the below functions effectively
- Lease and Facility Management
- Condo / Strata Management
- Reporting and Budgeting
- Automated Rent Collection
- Integrated CRM Solution
- Analyses on Visual Deviation
- Outlook integration
2. Hotel Management
The hospitality industry is greatly benefitted by adopting the concept of ERP within its system. The templates to allow room selection, configurations regarding audio visual and food and beverages. The ERP also focuses on procedures to configure and calculate various costs.
These benefits make an ERP a must-have for hotels
- Guest history becomes handy
- Increased productivity and reduced time cycles
- Business modules such as HR, Inventory, Finance and Purchase become more organized
- Over all supervision becomes easier
- Boost efficiency relating to check ins and checkouts, delivery options and rooms availability.
3. Field Service Management
Any service unit or organization can attain success with customer satisfaction as well as productivity by integrating the communication interface of both the external and internal customers.
Some of the main benefits of ERP in the field service can be stated as below
- Accurate accounting and General Ledger (GL) wherein Companies can add modules to the system, including accounts receivable accounts payable, and GL,
- Purchase Orders/ Sales Order System involving creating orders, sales and issuing receipts to customers.
- Inventory Management:
- Customer Information
- Invoice Generation
- User Defined Fields:
4. POS Retail and Restaurant
The technology of ERP has gained due popularity in the retail and restaurant business. This helps to keep check on guests, regulate the rates and tariffs and at the same time, ensure streamlined business operations.
The Point of sale is a major backbone for any retail store or restaurant owner and with the help of ERP, the sales and overall growth is ensured. Some of the benefits of ERP when it comes to Point of sales are as follows
- No Queues
- Inventory Management
- Transparent Transaction
- Speedy Checkout Process
- Detailed & Accurate Reporting
- Customer Relationship
5. Gym Management
ERP software is highly beneficial for the gym owners as it lends a transparency in the working, managing and organizing the institution. The basic advantages of incorporating the concept of ERP in the gym domain are as follows
- Tracking everyday details made easy
- Effective management of the End User of the system
- Maintaining the daily work out log made easy
- Scheduling
- Maintenance of nutrition plans
- Easy communication between the gym owner and the members
These details aptly depict why a full-fledge ERP delivers incredible business value to companies, irrespective of scale or size of operation. If you too need the advantage of ERP implementation then make the right first move and connect with a dependable expert that can assist you with its tech acumen.
