The other day I met a fellow entrepreneur and got into talking about the perils and benefits of entrepreneurship in India. The meeting triggered a lot of thoughts that were on my mind since a long time. I decided to address it.
One of the most common Myth is that You are a small entrepreneur and You don’t need an ERP to manage your business. You start limiting the scope of your business to yourself. You are not thinking of growing.
If YOU don’t think YOU can grow, why should others believe that?
ERP again is just setting processes. Currently, India is a largely unorganized sector and the business here is mostly people driven. If you see all the successful organizations and study them, you will understand that process driven organizations are able to achieve their business targets more easily.
The downside of all being the ERP’s are expensive and there is a lot of capex cost involved.
All these things have invested a fear in you & led you to believe that ERP implementations are a waste of time. But let me tell you that this is just a myth of Yours’, and also of numerous SME’s!
ERP is Business management software which assists all the functions of an enterprise and synchronizes all resources and activities within an organization, it also incorporates as well as reorganizes the business processes, to make your organization more competent and more perfect. ERP more specifically, meets the internal and external demands of the organization. A well-implemented and suitable ERP System can generate noteworthy efficiencies across your business ensuring timely business information, better customer relationships, a more cost-effective supply chain and ultimately, augmented profitability. And did you know that 68% of organizations with less than $50 million in annual revenue use ERP and 60% of best-in-class organizations report improved profits as a result of ERP.
Advancement of Information Technology (IT) has made organizations of all sectors to think for properly planning and managing their enterprise to see huge growth.
For GROWTH you have to operate in a wider arena and when you have MNCs as your clients, they require you to implement ERP system to allow for tighter integration in their supply chain, which permits them to design and plan the production and delivery so as to reduce the turnaround time.
Try out the below link and share your comments if it helped you to gain a competitive advantage and respond quickly to the dynamic market scenario?