ERP Mistakes?

Most entrepreneurs today now know the significance of having a decent ERP software or framework. With this system, certain procedures can be streamlined inside the organization, sparing entrepreneurs time and expenses. Selecting the privilege ERP system for your business however is not a straightforward undertaking. You should contribute adequate time and push to make the correct venture for your organization. On the off chance that you commit the error of putting resources into the wrong system and with utilizing it, all your speculation will basically go down the deplete. The following are some key ERP botches organizations should observe and abstain from making:

1. Insufficient Planning- In the event that you need your ERP venture or system to work to the organization’s preference, arranging is significant. Entrepreneurs and leaders who don’t arrange altogether before they start an ERP software assessment can get to be distinctly confounded when making their determination and all things considered, they won’t completely comprehend their present procedures and how to develop them to augment business advantages and efficiencies. To maintain a strategic distance from this issue, organizations ought to direct an inward review of the greater part of their procedures and strategies before picking an ERP system. In the event that you don’t have an in-house group prepared to do legitimately assessing ERP systems, consider contracting an outsider or seller impartial expert who has encounters in executing ERP answers for organizations in your industry.

2. Advantages of ERP- Diverse ERP systems offer different advantages. In spite of the fact that these eventual supportive for your business process management, it is critical to investigate the impediments of these systems also. The exact opposite thing you need is to put resources into a system that has system usefulness limitations, absence of capacities, and negatively affects existing inward prescribed procedures. To stay away from this mix-up, don’t restrict your potential seller to only maybe a couple. Search for no less than five and approach them for references. Keep in mind to do some extra research online by perusing up on customer tributes or brand audits.

3. Understanding the ERP system’s key components- When you have the ERP software introduced you or the workers in control need to know the system’s intricate details. On the off chance that you or your workers don’t know or comprehend and utilize every one of the components, your organization will miss different chances to mechanize business forms, finish works speedier, and meet business goals. This additionally implies you are not streamlining the system and getting less from your speculation. You can maintain a strategic distance from or tackle this issue by making an ace rundown of the considerable number of elements of the system and following the recurrence of their utilization. You can then occasionally audit this rundown to figure out which components are being utilized much of the time and which ones are the most supportive.

Read This Information – Why Documenting Business Processes Are Important

I think there are two topics that make anyone cringe. The first is taxes (shudder), and the second is structure and by structure I mean establishing documents that detail the processes we use to do what we do.

Crazy fun (ick)!

But crazy essential.

Documenting the processes that keep your business running accomplishes several goals:

  1. It’s a basis for training new team members
  2. It can be a way to review the steps, hence creating timelines and assigning tasks, that make up your individual business goals
  3. It identifies opportunities for delegation
  4. It allows you to step away from aspects of the business (think vacation, or just an afternoon off), and get out of the weeds

Let me share a story of a client of ours, who provided business coaching to groups, globally. Each group event was targeted towards C-level executives, and there was a high expectation of perfectionism.We knew that based on the marketing initiatives in play, that business was going to grow. For each coaching engagement we knew the following tasks needed to be completed:

  • That travel arrangements had to be made
  • Onsite arrangements (space logistics) had to be tended to
  • A Statement of Work (including an invoice) needed to be initiated
  • A coaching package (handouts) had to be created

We devised a system where an email would go out to the team with the dates and locations of the coaching engagements, including a checklist of the items that needed to be in the package. We had one team member that would own the travel arrangements, another handling contracting, and another that created the package, etc. Each team member worked within their relative strengths.The checklist for the package was key. What we helped this coach do was create a listing of the different documents he used previously, and he could just check off which ones he wanted again, with a spot for comments for changes. We were then able to pull these templates and compile them in one document.

We all had a shared calendar, we knew who was doing what, and because many of the documents were templates (also stored online), there were no concerns if one team member was unavailable.

It become seamless. Yes, there were bumps in the road as processes were refined, we accepted that this would be part of it.

Our client was thrilled because he knew who was doing what, he had confidence in the process and confidence in us.

His clients experienced the professionalism they expected.

Processes work. And they work much better when everyone knows what they are, their role within them, and how each step connects to the whole.

Looking for some tips? Give us a call, we’ll help get you started!

Smart Tips For Your Business – Organizing and Managing Systems for Your Small Business

I have facilitated workshops for groups of new small business owners over the years, and it never ceases to amaze me how many organizing systems it takes to run your own business.

Here are a few organizing systems that have been utilized. Perhaps some of these systems are familiar and you use them, but I bet you could also add some ideas.

• Customer Contacts
• Action Items
• Calendar System – electronic or paper (or both-yikes)?
• Financial Records including filing for HST
• Prospects/Sales Cycle
• Managing Electronic Documents
• Inventory
• Time Tracking
• Online Passwords
• Managing Email
• Vehicle Mileage and related expenses

And then, on top of all the organizing systems, you have to figure out how to manage your time effectively. In a workshop a few years ago, I learned a formula for managing time in the busy world of an entrepreneur. I have since adjusted it to fit my needs and the reality of how the lives of most of my small business clients actually should work. My overall discovery is that we have to try to minimize the time we spend on administration, while still taking care of all the details, and maximize the time we spend on activities that either allow us to earn money or have the potential to help increase our revenues. This is probably your experience too.

And then there’s planning time – one thing many of us do not spend enough time on. As small business owners, we should be spending the equivalent of 1/2 a day per week just planning. This is really as simple as ensuring we are ready for the upcoming week with our clients and confirming that we are moving along any business projects, such as updating our website. If we don’t plan for those business projects, they just never seem to get done. All of our time can be eaten up looking for clients, talking to clients and following up with clients. And, if you’re like me, procrastinating by checking email and browsing the internet!

So, here’s what you might want to do to ensure that important activities and projects are on your radar:

1. Block 1 to 2 hours with yourself in your calendar every Friday afternoon.
2. Start the weekly planning process by going back over the current week and looking for any promises you made to others. Note them on your ‘To Do’ list or in your calendar.
3. Look forward to the coming week and do the same.
4. Go through each item on your ‘To Do’ list and decide which ones you will do next week and which ones someone else could do for you.
5. Go over all of the other major projects on your plate and block time with yourself to move them forward.

Alright already, I’m going to do my planning for the week right now before I start searching the internet for some pretty organizing products for a client!

Just For Yous Information – FDM Rapid Prototyping

Using additive processes 3D printing assists in the creation of three-dimensional objects. The object is created using the fused deposition modeling technique. In this technique, materials are laid down in successive layers until the object is created eventually. FDM rapid prototyping process was developed in the 1980s. It consists of layers of melted plastic laid down by extrusion nozzle. The computer aided software assists the whole process till the product is complete.

Applications in all aspects

Rapid prototyping helps in producing very beautiful and accurate objects. They can be used for a variety of purposes. It is a technology which has an impact on every aspect of our lives, from manufacturing, medicine, architecture, education and art. FDM uses the same thermoplastics found in manufacturing industries.

Benefits of rapid prototyping

Rapid prototyping is used for rapid manufacturing. It is a cheaper alternative. It helps in iterative testing. FDM rapid prototyping uses thermoplastics and polycarbonate among other materials. These materials are suited for their heat resistance properties. They are suitable for aviation and aerospace industries. They are also used in medical applications.

Medical industry

The specialists in the medical field have started to use 3D printing as part of advanced medical techniques. In the field of medical science, 3D printing is used to help in the saving of lives and overall improvement of health. The patients in different parts of the world are getting a feel of improved quality of health care. 3D printing has started to evolve in the field of medical science at a very fast pace. More and more hospitals and clinics all around the globe are making use of 3D printing for prosthetics development.

Aviation industries

The manufacturing sectors have started using 3D printing in the aviation and aerospace industries. 3D printing has been utilized by NASA on several occasions. NASA has printed using laser melting technology. Significant developments are achieved in this field through the use of this technology.

Automotive industry

The automotive industry had adopted 3D printing long time back. However, its use was restricted. It did not apply to high volume prototyping applications. Now, 3D printing is used in automotive industries a bit extensively. From a wide range of verification of design to building models for checking their finishing, it has extended to other functional aspects of the specified industry.

Industrial 3D printing

In the last few years, 3D printing has grown more popular. This technology has reached a broad customer base. Many people are yet to hear about the some of the benefits of 3D printing. Manufacturers were using these printers for traditional research processes. They have now started the use of 3D printers for these purposes. This is known as rapid prototyping.

Used in bioprinting

Layers of cells of living beings are put on a gel and three-dimensional structures are created by biotech firms. The use of 3D printing technology has started growing in this sector.

Bright future of 3D printers

Industry gurus all over the world have predicted that 3D printing will gain more popularity over the coming years. Slowly as 3D printers are reaching out to more consumers, online social networking platforms have started to show their active support to the community.

All Information About 3D Scanning And Printing

To bring your ideas to life, 3D printing makes sense. 3D printing makes use of additive manufacturing to create three-dimensional objects. The process of building is done from the digital files. With the latest 3D scanning and printing tools, you can gain a competitive edge in the business world.

3D scanner

The device that is used to collect data on the shape and appearance of an object is the 3D scanner. The data gathered is then used to create three-dimensional models. In most cases, it is not possible for a single scan to produce a finished model. Multiple scans are required in most of the cases, to obtain information about the complete model. From a common reference system, these multiple scans are aligned and merged to create a complete model. This whole process is known as the 3D scanning pipeline.

Less time-consuming in 3D printing

In 3D printing, layer after layer of metal, plastic or other elements are deposited in 3D printing, to make the finished product. This technology differs from the traditional methods of carving and drilling. It is less time-consuming than the conventional methods.

Use of 3D models in the practical world

The 3D data gathered is used in the entertainment industry for the creation of digital 3D models for movies and video games. They are used in virtual cinematography. Whatever you are trying to do, it may be a model for your school project, or building a prototype if you want to make a lasting impression, 3D printing is the answer. The buildings and land are often scanned into 3D models. This gives the potential buyers an opportunity to have a virtual tour of the property without having to be present in person at the real estate.

Additional uses of 3D models

The law enforcement agencies use 3D laser scanning. The 3D models are used for reconstruction of accidents, airplane crashes, bullet trajectories and crime scenes. The 3D scanners create 3D portraits and then they are used in cameras. The 3D model can be set up for capturing the environment at a place of particular interest. The user gets a chance to explore an inconvenient location virtually.

Investors have turned their focus on 3D printing

3D scanning and printing is innovative and is now the focus of all investors. Since there is an enormous amount of potential, most of the investors have turned their attention towards 3D printing technologies and are also demanding from companies to use them. On the whole, 3D is trendy now. 3D printing can create products tailored just for you. Customization is possible with 3D printing. They can create manufacturing products that improve the experience of the customers.

Use of own printers for making 3D models

Personal 3D printing has become quite popular nowadays. Rapid development and demands of consumers on an individual basis have made the prices of printers fall. If you are not in a position to use your designs as 3D models, then you can print some beautiful objects from 3D marketplaces. They have some 3D model files which you can be downloaded at a small charge.

The Reasons – Why You Should Hire Online Bookkeeper Services

Bookkeeping is not only an everlasting task, but an important business activity which helps in assessing the exact financial position of the business at the end of the financial year, that whether it earning substantial profits or not as against the investments made during the year. Here, it would be important to mention that investment in business is not stagnated only in purchasing machineries, production plants, furniture etc but also includes salaries paid to employees, tax paid to the government, etc. Hence, to know the actual financial position of the business it is imperative for the businessmen to get the every cash transaction recorded in proper books and then make the financial statement about the profit and loss on the basis of entries recorded in those books.

As all these transactions are crucial for the smooth operation of a business and play an incredible role in deciding its future, it is indispensable that this job should not only be done a knowledgeable person but also who has vast experience in recording these entries. Because a single mistake in recording any transaction might result in huge loss to an organization.

Therefore, business groups which have strongly established their roots in the world of business have a full team of expert accountants who intensively look after all the financial activities, and therefore in return of their services they are paid high salaries depending upon their knowledge and expertise. But, now the question arises, how the small business groups or startups can get rid of this problem, because if they start taking care of their accounts they will not be able to pay attention towards other activities which can help them in exploring their business. On the other side if they appoint even a single experience bookkeeper to manage their accounts, paying high salary will pull them towards additional financial burden.

Interestingly, now days when the trend of outsourcing services has become the latest trend in various sectors, outsourcing the services of bookkeeper has emerged as the boon for small and newly business startups. Today there are various bookkeeping groups that are offering online bookkeeper services to all such business operators who could not bear the pressure of paying high salaries to experienced bookkeepers.

The major benefits of hiring online bookkeeper services are referred below:

1. Cost effectiveness: The worth mentioning benefit of online bookkeeping services is that here you need not have to pay full-time salary to your accountant. The person offering his services online will ask you to pay for his work on the basis of hours or days worked by him. This not only helps you in saving the huge salary that you have paid to your accountant, but also it will indirectly cut your overhead expenses that you have paid in offering healthy working condition to your in-house accountant.

2. Accountable and reliable: As now days the trend of hiring online services of bookkeeping is flourishing at jet dynamic speed, there is cut throat competition among the online bookkeepers. As the result of this they are offering authentic and reliable services to their clients. They not only properly take care of your financial transactions but also retain privacy of your accounts with full authenticity.

3. Suggesting you from time to time: The main objective of every business is finally earning the profits. As an accountant is well aware about your financial position, he will suggest you the necessary measure that are helpful in cutting the cost of those items which are adversely hiking the cost of your business operations.

Do You Know This? – How Much Interest Should You Pay for an Equipment Finance

At a recent equipment financing and equipment leasing trade show we polled over 125 business owners with a short survey and had various discussions with numerous willing participants. Our main question was simple; if you borrowed $100,000 for your business, what is the dollar amount of interest you would be willing to pay back assuming you have good credit. The majority responded that $10,000 of interest is the most they would want to pay for borrowing that amount. Of course, this was all hypothetical since there wasn’t a specific project in mind but $10,000 was where most owners’ comfort level landed.

We feel many people picked $10,000 because it was 10% of $100,000 which sounded like a reasonable upper limit for them. Then we asked how long a term would they want the loan for and this is where things got interesting; of course some owners said “as long as possible” but for practical purposes a majority of owners responded that 1 to 5 years or something in between would make sense but there was no real emphasis on the term; they simply felt they didn’t want to pay over $10,000 in interest.

Then we asked about interest rate; almost everyone checked the 5-9% rate box as their target rate. Discussing rate was definitely the most emotional question on our survey; chatting about maximum dollar amount of interest or length of term was bland compared to rate talk where emotions ran high. Later in the event we shared the following chart with the participants and some eyes opened wide.

Amount borrowed: $100,000
Interest paid back: $10,000
Term / Interest rate
1 year = 17.9%
2 years = 9.3%
3 years = 6.3%
4 years = 4.7%
5 years = 3.8%

The same amount of $10,000 interest was paid back in each case but as you can see, adding an additional year to the term made a huge difference to the rate. The owners which expressed that a 1 or 2 year loan didn’t make that big a difference to them as far as strategy yet said they would never pay over 10% rate were very surprised to see how big the difference was; almost double.

The key is when you are borrowing money you should first focus on your business cash flow and do an analysis; what dollar benefit does the finance provide back to the company. The second goal is to take out the loan or equipment lease for the shortest term possible which works with the business cash flow while still providing a benefit; the longer you borrow the more dollars it will cost you. Finally, look at the rate; if you’re extending the term another year just to feel better about the interest then you’re not gaining anything except time which may be of value but based on our survey, didn’t really make a huge difference. Focusing on only one aspect will not help you make the best decision for your business.

These Are 5 Smart Tips to Maximize Your Office Space

Maximizing office space can go a long way to achieve valuable cost savings and efficiency to make sure overheads are kept to a minimum. With rent prices on the rise for premium office space, any start-up business will need to take positive steps to get the most from their working environment. Here are a few tips to maximize your office space:

Great creative with storage

The modern office is growing more paperless, which is not only good for reducing the necessary storage space, but is also great for the environment. The storage options that use the least amount of floor space are the most desirable. The vertical unit that stands floor to ceiling is a practical choice. It can vary in design to include cabinets, lockers or shelves. This is able to provide enough space for the unavoidable paper, while still keeping the work space relatively clutter free.

Minimize desk space

A simple solution to make the floor space in your office appear more spacious is to install the more compact desks or workstations. A great technique to determine the size of the office furniture is to create a scale drawing of the office layout and available space. Carefully calculate the needs now and in the future to ensure the work space is comfortable and spacious enough for the entire workforce.

Create flexible space

An office with multi-functional space is certain to give the more flexible place to work. A room limited to hosting meetings can take up a lot of floor space, and it will often be left empty. A more efficient way to use the space is with a temporary meeting room that is easily created using office screens. Short-term partitions are simple to erect in a few minutes.

Mezzanine floor

A mezzanine floor is a perfect addition to the office space that has the available overhead space. By installing a mezzanine it is possible to create a second floor that can make a practical storage area. Also, this can make a cost-effective way to increase space without have to move to the larger and more expensive premises.

Just For Yous Information – The Fastest Growing Industry for Manufacturing

Previously, you had to make arduous use of your hands to carve out models of various shapes and sizes. Making prototypes is an integral part of the manufacturing process, but that prospect has become easier and less time to consume, than before. Credit for this goes to the rapid prototyping services the USA. The latter makes use of three-dimension printing technology, which in turn, facilitates the making and fabrication of models. Since CAD-based software guides the fabrication process, you can realize your objective, in a jiffy.

Minimizes time wastage

Hence, it is not difficult to understand why you should not make arduous use of your hands to line up prototypes and models. The software-centric approach has given a new dimension to the manufacturing industry. The processes have not only become quicker than before but also have become more accurate and precise. Without wasting their precious time, manufacturers can turn concepts into a reality. The prospect, in turn, has paved the way for successful venturing. It is something like this. You are about to release a new car model. Now, if you end up wasting your time rehashing and refurbishing the model, your competitors, in the fray will get better of you.

A design-friendly process

Instead, if you bank on the resourcefulness of a 3-dimensional printing and prototyping company, half your job will be done. Without wasting your precious time, you can give a realistic shape to the project that you have envisioned. For instance, you may be on the verge of developing a new set of headlights for the vehicle you have already launched. If you take the help of the software-oriented three-dimensional prototyping process, you can decrease your lead time and minimize unnecessary expenses. Besides these, you get a greater freedom in designing than the manual process of prototyping.

Enhances the production process

Once you know how the new set of headlights look, once you have the prototype ready, you can spearhead the production process. In this way, you can reduce your rehashing time, and this, in turn, adds an edge to the main production process. With 3d printing and rapid prototyping service, you can line up the actual physical models. You need not refer to digital versions of the model you seek to manufacture. This aspect proves to be advantageous for the engineers involved in the manufacturing team. Communication with physical models is more effective than using digital setups, as the reference.

Facilitates evaluation and testing

You can also have the product evaluated and tested before it is ready for the market. Even before you start off with the actual process of production, you can put the product to testing. It is always advantageous to check the models for error and other rectifications before entering the fray of large-scale manufacturing. Consequently, later on, when you enter the actual process of manufacturing, you can think of providing the market with a perfect full-proof line of products. The rapid prototyping services the USA not only optimize your time and expense but also ensure you of error-free products which you can sustain in the market, over a long span of time.

Just For Your Information – Safe Way to Tackle The Beginning Tempest of A Business

The beginning stage of a business is considered as the most challenging stage as it comes with many windstorms. However, most of the cyclones come in the initial period of any startup business are not pre-defined. So, it is impossible for you to predict most of the windstorms that are coming. You can only predict some of those cyclones that are likely to come in your way. This is an informative post with will be telling you an extraordinary way by which you can tackle the known portion of your business tempest. We are discussing, how you tackle the beginning tempest of your startup business. But yes, you will not get the answer to your question, why the initial stage of a business is considered as the most challenging stage, throughout this post. We are not even discussing the availability of business capitals or the providing agencies.

Market research & feasibility study is considered as a great weapon for dealing the beginning tempest of any business that is going to be established. It is necessary, too. Before you start a business, whether it is a product based business or a service based business, you must go through a feasibility study. While doing the research, you can include these ten factors.

1. Present & future demand
2. Projected gap
3. Market movement
4. Product acceptability
5. Competitor frequency & effectiveness
6. Availability of raw materials
7. Price feasibility
8. Transportation system
9. Availability of skill fullness
10. Customer volume

The involvement of expert minds is suggested to you if you want to study the market in a better way. You can even invite a third party if you are keen in projecting a small portion of your budget. At least, we suggest you invest some money in making a good market research, followed by the feasibility study.

Before you apply for a business loan to any lending agency, it is very important for you to know about the existing competitors who are dealing with the same product or service. The acceptability of your existing competitors will define the acceptability of your business which is definitely an important factor to know about. Another thing is the customer volume and their taste. Your business volume should not bigger than the customer volume. It is better if the delivered product or service is compatible with the taste and demands of your startup business customers. The decided price should not be higher than the market price. Do not prefer a low price, too. It should be uniform and compatible with the current market. Finally, a proper market research is really a safe way to tackle the beginning tempest of a projected business.

Read This – What Options Do You Have When You Have Decided to Sell Your Business

You have decided to sell your Business for 1 or more reasons – it could be because you have decided to relocate or emigrate; you may want to cash in after many years of hard work and retire; or you may have decided to move into a new venture.

Once you have made your decision to sell, you need to decide on the method you will employ to ensure a successful sale.

You only have 2 options to decide on –

1) Employ the services of a Business Broker or

2) Sell your Business yourself.

Having sold my own Businesses privately in the past, and having owned my own Business Brokerage and sold Businesses on behalf of clients, I am qualified to give an overview of the pros and cons of both methods.

Selling through a Business Broker:

– A qualified Broker can assist you with establishing the correct price for your Business in order to ensure a successful sale.

– Allows you the time to concentrate on running your business and preventing the possible decline of turnover and profits.

– A qualified Broker knows the most effective process to use from marketing your business, screening and qualifying leads, and negotiating the sale with an interested buyer.

– The Broker has the necessary documents to qualify potential buyers, and conclude a sale.

– Brokers usually charge a commission of 10% on the sales price of the Business. This could amount to a huge amount of money coming out of your pocket! You need to decide whether you are prepared to give away 10% of the selling price of your business!

– If a Broker in a Brokerage needs to meet his target, or is short of personal funds, he or she may push you to accept a lower offer for your Business to satisfy his/her needs.

Selling your Business privately:

– You know your Business better than anyone. You are the best person to answer questions on your business. You also know the industry and can suggest ways of improving turnover and profits. You may also be able to point out future opportunities in the industry.

– You can save on the 10% commission charged by Brokers. The extra 10% could amount to a substantial amount of money, and will come in very handy with your future plans!

Conclusion:

– The reason why most sellers do not sell privately is because they actually don’t know how!

– They don’t know how best to market their Business for sale, how to qualify the potential buyers, what steps to follow, and what documents are needed. They also know that they will need to spend an unknown amount of money to have the agreement drawn up by an Attorney.

What if there was another option?

– You get a step by step guide to selling your Business;

– Your Business is advertised on a premium targeted site;

– You receive all leads yourself;

– You get all documentation to conclude the sale;

– You get access to telephonic support and advice from a qualified Business Broker;

– You pay 0% commission!

More Information About ERP Systems For Your Business

Gone are the days when small businesses need to cope with multiple barriers to growth. Advent of the Internet has come with a range of things for smaller and mid-scale enterprises. With the rise of Cloud Integration technology, these enterprises will gain more potential to compete with the giant business players. One of the most productive investments in modern businesses is developing a customised ERP system. However, smaller enterprises often face a dilemma about its utility in improving their operations.

With more streamlined business operations, rapid performance tracking, smarter market insights and improved operational efficiency, ERP solutions have become the new ace for companies irrespective of its size. Thus, it is important to have a well-integrated and customised ERP for small business and big enterprises.

How an ERP can fetch Growth for Small Businesses

  • Increased Productivity: With improved tracking and transparency of your business process, your staff will get more time to focus on increasing the business volumes. This will further aid in transforming the various areas of your business and gain more momentum towards business growth.
  • Greater Transparency: With an efficient system, your business will not need any specific information system for all the departments. This software helps you to share and access all relevant data processed across all the business departments. This, in turn, eliminates need of export data thereby, resulting in increased productivity and lower expenditure on human resource.
  • Decision-making: Real-time data offered by a system is highly beneficial for management, accounting, marketing thereby enabling the company to make decisions quicker and better. The management can detect any type of potential issues or obstacles which, will further help in monitoring the productivity levels. Having a comprehensive picture of all the operations will help in understanding various areas of the business and meet higher growth.

What is the Perfect Choice of ERP for your Business

Different businesses will have different needs and infrastructure and thus, not a one-size-fits-all system can cater different purposes. Being an aspiring entrepreneur, you must focus on developing a cost-effective solution that meets your needs and is easily manageable as well. Ideally, some of the essential features of an efficient ERP solution are easy-to-use, customised, highly scalable, secure, cloud compatible and adaptive.

Adhering the aforesaid, it has not only become essential to invest in ERP for small business but, also specify the desirable features and make sure that the product is business-specific. However, it is important to remember that even the most powerful ERP system might not work for your business, because of inefficiency in maintaining and monitoring it properly. Thus, make sure that the software’s functionality is known to your staff and they can make the most of your crucial investment.