We live in a world that is digitally disrupted. Given the rapid pace of technological and digital advancement, change is inevitable. As a business, it is necessary to be able to detect change and act swiftly, with minimal disruption to your business.
Modern business practices require businesses to be nimble and agile in functioning, which also extends to their usage of technological advancements. The first step to growing your business is to adapt to changes in technology, but do Small and Mid-sized Enterprises (SMEs) adapt swiftly?
Well, the reluctance to do so arises from:
- The capital investment involved in buying and implementation of the ERP
- The investment required to upgrade the skills of the workforce to ensure optimal usage of the solution.
- And, the belief that the newer solutions cater to the needs of large businesses, are too comprehensive and extensive for SMEs.
As an SME, would you risk turning into a corporate dinosaur to avoid addressing these issues?
An advancement that has changed the way businesses operate is, the Enterprise Resource Planning (ERP) solution. It’s a tool that manages various business functions and unifies the business into a single suite. The system gathers real-time data from across departments like Sales, Inventory, Finance, Human Resources etc.., centralizes and processes it into comprehensive and actionable information to aid with strategic decision-making.
ERP solutions have evolved into a versatile tool to accommodate the needs of all types of businesses. An ERP is as critical an investment for an SME as it is for a large business. Here’s why it would be ideal for SMEs:
- It will provide access to business intelligence to improve decision making, forecasting and strategic planning of any business. Having a centralized system allows quick access to relevant and usable data to adapt to the changes in the market or within the business.
- With automation of business processes and centralization of data from every department (Sales or Logistics or Finance), SMEs can work in a simple, streamlined and efficient manner.
- Apart from improved decision- making, ERP solutions provide increased transparency into its operations and also does away with the worry of duplication of data.
- In a fast-paced industry, leveraging both financial and operational data can help SMEs work smarter and stay relevant. The earlier an SME implements it, the better their chances of integrating with industry best-practices.
Realizing the importance of an ERP system many cost-effective yet advanced versions have been developed. At Intelizest, we believe there isn’t a ‘one size fits all’ ERP solution, with this we designed and developed Criztel, an ERP solution that unifies all business processes into one integrated business suite. Hosted on Microsoft Azure, Criztel is agile and will grow with your business.
In order to help SMEs get the most from Criztel, we have:
- Introduced Machine Learning algorithms which will help provide prescriptive analytics and intelligence to help businesses navigate through complex operations and situations.
- Automated the entire business process with the help of machine learning and deep learning, thereby streamlining the processes to ensure greater productivity and efficiency.
- Developed individual apps for various departments to help them manage and track their work, in an accessible manner on a regular basis. For example: The Sales App will assist with sales inquiries, quotations, sales orders, invoices and so on. Similarly, the Logistics and Inventory App will help manage inventory goals, targets and replenish stock.
What sets apart a successful business from an unsuccessful one is how differently they do the same things. The right ERP system streamlines business processes, allowing for better resource allocation. With solutions that can make decision making simpler, faster and more accurate, at a low cost, SMEs must look for means to acquire it. After all, no business is too small for an ERP solution!