The top traits while choosing the best Cloud ERP software for small business needs1.Get Real-Time Reports
A system that doesn’t update immediately creates a lot of confusion for employees. Imagine a system where the warehouse updates the available inventory on an item, but the data isn’t in real-time. So, the sales department pushes a particular deadline, only to discover the warehouse is out of the item and the company can’t fulfill orders.
One of the best ways of ensuring data updates in real-time is using a cloud-based database rather than an in-house networked solution. Most of the major Cloud ERP software companies offer this type of option for your company on a sliding scale. That way smaller businesses can still afford the data storage. Experts forecast enterprise cloud spending will increase 15 percent each year through 2025.
2.Mobile Access Capability
You and your employees need the ability to access your systems via mobile devices, which is another helpful aspect of cloud storage. One example of how well this works for businesses might be having employees put in their expenses for the accounting department to stay on top of spending, or salespeople to put in an order and have shipping get right on fulfilling it.
The mobile capability enables employees to update all systems in the process and stay on top of inventory and logistics in ways that translate into an excellent customer service experience.
3.Invoice & Accounting Management
Staying on top of spending may make or break your small business. The main reason small businesses fail is cash flow issues. What if you knew about every penny spent or earned throughout the year?
For most Cloud ERP software, financial management is one of the most critical modules in the software. Some features to look for include profit tracking, invoice tracking, and reports on cash flow.
4.Easy Track on Human Resources
In the past, companies only used Cloud ERP software for payroll-type functions. However, as systems have advanced, more and more businesses have begun using Cloud ERPs for everything from performance tracking to attendance tracking to scheduling. A strong Cloud ERP software frees up small business managers for creative thinking, instead of spending time on menial tasks.
While a Cloud ERP occasionally still needs a human touch for evaluation purposes, it is an excellent way to track employees over time. Make sure the program you choose allows for input from management. One example might be an employee battling a life-threatening illness. Their attendance reports will show they missed a lot of work, but they have a valid reason, and management needs to mark the absences as excused.
5.Improves brand loyalty via CRM
Customer relationship management is a valuable part of any Cloud ERP software for small businesses. Look for Cloud ERP software that has the features which align with your particular business model. If you work in a service industry, it’s likely you’ll need more personal information about your typical customer than if you own an e-commerce store.
A CRM module should track leads, current customers and allow your team to spot potential problem areas before they occur. For example, if Mr. John complains every spring that his order is late, the system should flag that complaint and notify logistics to get his order out early this year. The Cloud ERP would track the order, ensure the package was delivered on time, and pull up an indicator in customer service to check in with Mr. John and see if he’s happy with the improved service.
Creating that level of personalized customer service develops a strong relationship with consumers and drives brand loyalty.
6.Reduces Operating Costs
Look for a Cloud ERP that has the modules you need to reduce small business operating costs. While you can’t purchase in the quantities some of the big-box retailers can, you can certainly use a Cloud ERP to track the costs related to different suppliers and reach out to them with requests for reducing those expenses.