Enterprise Resource Planning (ERP) for small business is used to denote small business management software for meeting the demands of small business. This software includes all the aspects of an operation which consists development, manufacturing, sales and marketing. This form of ERPsoftware is usually Software as a Service (SaaS) model and comprises of project management, financials, manufacturing, warehouse management, accounting, sales and business management.
However, ERP is mostly in demand by small business enterprises in order to integrate and consolidate data that is accessible in various departments, obtain information, take better decisions and to increase the productivity. A small business needs ERP for various reasons – such as, disorganized data, expense tracking, co-ordination gap, etc.
There are numerous benefits of ERP for small business such as collection of information, increase in productivity, decrease in operating costs and maintaining control, higher consistency, increase of sales and long term planning as well as improved decision making. ERP improves customer services and profitability. It also avoids pilferage of inventory and helps in getting the necessary data for quick decision as well as reduces the time taken by the customers to pay.
In a nutshell, the prime concern of any business, whether big or small, is to remain updated. Thus, in order to improve and expand your business, a management system that handles your business smartly, you need to have accounting software for setting up small business goals.