Top 3 Perks of Using a Small Business Management Software

Small business management refers to a set of strategies used by budding entrepreneurs to manage their operations. Due to a shortage of manpower, business owners are expected to be knowledgeable about a wide variety of business topics. They must be able to create financial reports, manage employees, acquire business assets, make timely decisions, and stay up-to-date with shifting industry trends.
 Executing all of these tasks day after day is far from easy—and many fail. According to Forbes, less than half of all new businesses survive past the 5-year mark. To ensure that your business not only survives but also thrives in the market, you’ll need all the extra help you can get.
In this article, we’ll go over the top 3 perks of using small business management software.

Scalability

During the early years, small businesses experience higher growth rates than their larger counterparts. One key benefit of small business management software is that it’s scalable. It accommodates growth during the expansion phase and can handle tasks such as hiring new employees, expanding the product line, adding additional components, or start operations at a new location.
Most small business management software offers comprehensive reporting functions that if used correctly, can indicate whether the business can handle the next major change.

Real-time Reporting Capabilities

Real-time reporting capabilities give a holistic view of overheat costs, revenues, and other expenses. It makes inventory and order management much more accurate and enables business owners to determine whether the company is on track to meet set targets.
The significance of real-time reporting is underlined by the massive spending larger firms carry out towards financial analysis. Small business owners can avail the same benefits and gain a better understanding of their financial situation. This opens the gateway to valuable insights and leads to informed decision-making.

Cost Cutting

Lack of funding is one of the primary reasons for small business failure. In an attempt to gain a strong competitive advantage, entrepreneurs spend excessively on a multitude of specialized software. More software means more licensing costs.
However, by relying on a single solution such as ERP software, small businesses can create invoices, fill in timesheets, follow sales leads, create customer contacts, complete projects, and do much more with just a single application. It’s easy to see how small business management software leads to considerable cost savings.
If you want to ensure that your small business makes it through the early years, we would highly recommend purchasing small business management software. OpenPro offers numerous business management solutions including holistic management software specifically designed for small businesses.
Get in touch with them today by calling at 714-378-4600 or by visiting their website.

Comments

Post a Comment

Popular posts from this blog

Food Companies Must Know What Chemicals Make Up Their Food Packaging

Image
Growing awareness of the harm that food packaging chemicals cause has led to regulations that require food companies to stop using them. Scientific evidence  has proven that largely ‘safe’ packaging materials react with food components to create chemicals that are dangerous to consumers. Obesity, cancer, and cardiovascular disease are just some of the harmful effects of the chemicals that are found in food packaging. Here are some types of food packaging and the harmful chemicals they contain. Takeaway Containers Convenient takeaway containers made the delivery of food items to our homes possible. However, these containers aren’t good for your body or the environment. When hot food products are placed within these containers, chemicals are released into the food, and eventually, into our bodies. These containers are made from materials such as Styrofoam, which has been shown to cause  conditions such as depression, weakness, fatigue, and even minor kidney proble...
Read more

Understanding the Value of ERP Software for Small and Medium-Sized Businesses

Image
What was traditionally an option limited to large enterprises, ERP systems are now becoming increasingly popular within small and medium-sized businesses. The software automates multiple business functions and facilitates greater productivity. According to the research by the Aberdeen Group , 96% of all growing businesses rely on ERP software to increase their efficiency, support visibility and improve decision making. Here, we take a look at the value and benefits ERP software provides to small and medium-sized enterprises. Streamlines Data Flow ERP system grants small businesses access to streamlined data flow between various business processes. It does this while integrating the company’s financial system with its business transactions all in real time. By posting important transactions to the organizations’ general ledger, financial implications can be viewed by the management whenever necessary. The software covers all the core processes such as sales order entry, shi...
Read more

Post Go-Live ERP Optimization Tips

Image
Unfortunately, for many businesses, the effectiveness of ERP systems begins to decline post go-live or it doesn’t live up to the hype. New employees come in, business strategies are revamped, and workflows change while the system unsuccessfully tries to keep up. Reasons for failure are at times pinned to poor architecture, faulty implementations, or insufficient integrations. At its very core, less-than-impressive performance is due to a failure to incorporate the go-live phase within the ERP project plan. According to Technology Evaluation Centers , 50% of businesses are planning on upgrading or acquiring an ERP system, this wouldn’t be the case if there was a problem inherent to the ERP system itself. In this blog, we’ll go over a few post go-live ERP optimization tips that’ll help you avoid common problems. Adopt a Proactive Approach Even if there aren’t any complaints of system speed, it’s recommended to start measuring your system’s performance anyway. There’s a good ch...
Read more