A key operational principle reminds us that if there is a gap in operational efficiency that gap will only grow as the business does, leading to more significant losses in the long run. That means businesses should focus on streamlining, perfecting and automating their processes, closing any gaps before scaling.
It makes sense then that many businesses are moving to enterprise resource planning (ERP) systems before scaling. That is because the right ERP system will allow the business to reduce manual processes and drive more efficient operations, reducing wasted time and money. Streamlining and automating accounting and financial operations also reduces the risk of manual errors and frees up time for staff to focus on more value-driving tasks. “The result? Those operational gaps are filled, and the business is put in a better position to scale,” says Lihle Bikitsha, senior sales executive, Enterprise Applications at iOCO.
A recent Oracle report confirms the validity of this approach, stating that – despite the misguided and perceived high cost of ERP implementations – astute small businesses are realising that “many of today’s cloud-based ERP systems are within reach for smaller organisations.”
What is becoming evident in the market is that both affordability and a faster, phased approach to implementation are driving ERP adoption across the globe. Most small businesses still grapple with two questions: are we ready to scale, and when is the right time to invest in a tool to facilitate that? Of course, as the report confirms, many also deliberate on acquiring a powerful ERP system before the business has grown sufficiently to help pay for such a system.
“The reality is that ERP solutions purpose-built for small business use have been tailored to offer maximum bang for their buck – packaged in a wholly comprehensive solution that goes beyond the financial department, encapsulating elements of ERP, accounting, CRM, eCommerce, and Professional Services Automation (PSA) in one package,” adds Bikitsha. “With the right ERP solution in place, costs are reduced, data is automated and more secure, efficiencies are driven up, productivity gains soar, and true insights into performance, processes, and finances are easily accessible.”
What makes ERP so powerful is its ability to integrate business functions and processes across the board from finance to inventory, supply chain management, customer service, and sales. Now, with reliable processes geared for growth, and perfected according to real insights, those operational holes are filled, and the business is ready to expand its operations.
“The goal of any ambitious company is to prepare operations for consistent innovation, total efficiency, and long-term growth. To achieve this, businesses that don’t lean on cost-effective, easy to use, agile business solutions are missing a trick,” concludes Bikitsha. “Why not utilise what is available to your business to scale rapidly and sustainably?”