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To effectively run a business of any size – especially if you are in the build-to-order manufacturing or industrial fabrication industry – you must have systems in place to efficiently manage customer records, billing materials, sales, and invoicing.
Managing multiple platforms for each branch of your business can be challenging – even for a small to medium-sized business. Because of that challenge, business owners turn to enterprise resource planning systems (ERPs) to streamline operations and execute their business strategy. ERP systems help consolidate your inventory, sales, customer management and finances into one platform – giving your company the ability to efficiently meet your fiscal goals and customer demands.
Let’s find out what ERP solutions are available for your small or medium-sized business, what benefits they can bring, and how to find the right ERP software for your small to medium-sized enterprise (SME).
The first thing your business needs to consider is whether your company needs a new ERP platform to begin with. Depending on the potential ROI and soft benefits that an ERP system can bring, you may determine that an ERP solution makes sense to implement. At that point, you need to decide which solutions are available and right for you.
Most ERP software is split into several modules based on business function. Common ERP modules include:
Not every business needs to use every available module in their ERP software. For that reason, small to medium business owners should prioritize their organizational needs and what modules will best help them streamline their operations.
All small and medium-sized businesses operate in different ways, serving different customers whose needs wildly vary. Despite this, most SMEs can reap similar benefits from an ERP system. Most systems let you expand your business without adding IT or staffing costs, provide a competitive advantage to your business, increase productivity, and reduce costs.
ERP for SME can prove beneficial in the following ways:
Slow but necessary tasks like bookkeeping and data consolidation are time-consuming. As a small or medium-sized business owner, every moment of your day is valuable and necessary to moving your company forward. Modern ERP systems help cut down on the time needed to handle your day-to-day administrative duties.
To make informed decisions, you need to be able to access up-to-date information. The fast-paced decision-making demanded of industrial distribution businesses requires real-time data shared using a modern ERP system.
ERP software suites eliminate information silos that impede data transparency and teamwork. Improve collaboration among your team and reduce the risk of costly communication errors.
Inventory Management is a vital ERP feature – providing your industrial distribution business with complete visibility company-wide into your stock, enabling you to see open orders, available product(s) at branches, pending purchase orders, item transaction history, quantity in external fabrication, and additional inventory metrics.
The warehouse management feature found in most ERP solutions allows you to make on-demand inventory movements, revolutionize how orders are picked in your warehouse, and route received inventory to the intended destination bin.
Both features provide you with the ability to reduce excess inventory, deliver quality customer service, and improve traceability.
As a small to medium-sized business, you need a system that grows as you do. The infrastructure of modern ERP systems makes it easy to add resources as you grow.
Understanding and maintaining customer relationships is vital to the success of any business. The best ERP small business solutions have robust customer management and counter sale systems that handle customer data and sales funnels automatically.
With so much on their plate, many small business owners must choose between completing all of their tasks or spending additional time with a customer. For a distributor to be successful they need to find a way to allow counter sales teams to be more efficient. One way to do this is through an ERP solution.
Every best practice distributor understands the importance of documenting any sales inquiry. With order entry, you can add a ticket to the quote to remind you to follow up with the customer. Plus, you can track which inquiries turn into sales, which sales were lost, and why.
As a small or medium size business, you need an ERP system that can adapt, scale, and keep your operations running efficiently. The specialized features of Tribute’s ERP software are designed to help you maximize profits and better serve your buyers.
Our TrulinX business management platform is specialized for industrial distributors, build-to-order manufacturers, and fabricators of every size. With our niche features, supplier integrations, and industry leadership, TrulinX is specifically designed for your distribution business. Ready to improve your SME through an innovative modern ERP software? Request a Demo to see how we can help you make that change to your business.