All over the world, if you analyze, the ERP business has been dominated by the big-four which control 90% of the market share. But that does not mean that low cost ERP is not available and that small businesses cannot take advantage of ERP. ERP implementation has gone beyond its traditional role of automating the transactions of the enterprise. It is now a sustainable tool for competitive advantage.
Software vendors engaged in ERP implementation typically target companies with a turnover of over 2 million dollars and beyond. Those with a turnover of more than 20 million dollars often embrace packages from transnational companies that have A-grade implementation partners. It is in this range that the real goldmine of opportunity lies for ERP development and implementation. Small and medium businesses are still going through a learning curve and they need to be educated about the benefits of ERP.
Retail, Manufacturing, Real estate, Farming benefit the most from low cost ERP
If firms can battle the perception of risk that is associated with ERP, then they can grow rapidly within their industry and that too higher on the value chain. All the industries mentioned above namely: retail, manufacturing, real estate, farming are B2C businesses where there are high chances of recurrent billing in the form of fixed monthly rents, sales, produce, supply of finished goods. Tracking, monitoring, invoicing and closing the sales very important from a success point of view. Low-cost ERP solutions are in high demand by such businesses as they help them streamline their business processes, keep input costs low and retain higher margins in the long run.
Using cloud computing to full effect
- Marketing: Developing a strong lead pipeline is often quite easy with an ERP solution as one person initiates the sale and the other closes it in a big company. So, through the ERP Solution, prospective leads can be saved for further follow up. Data can be saved as to how far in the lead pipeline have negotiations with prospects reached.
- Point of sale: Billing and sales are the two most important components of any retail operation and quicker checkouts are what every customer expects from any retail store. ERP makes it easy.
- CRM: Automation of frequently asked questions is best donethrough an ERP solution that might also cover social media monitoring and content propagation on social networks.
- Human Resources: Hiring, payroll, staffing, preparation of duty rosters, leave tracking, salary calculations are best done through the help of ERP software’s.
One must always keep in mind that the technology differential is often the key factor that can prove to be the critical difference between the success and failure of an organization. It’s a winner takes all world wherein firms with high technology will steer ahead of those with obsolete technology or those who have not updated their technological backbone. ERP is technology number one and it is only a matter of time before all firms embrace it in totality.