Increased competition creates challenges for small and mid-sized enterprises (SMEs). Compared to their larger counterparts, SMEs suffer more in various ways. Among all aspects, do you know what hit them more? The financial constraints and lack of technical resources take SMEs to the back seat. Things become worse when SMEs fail to achieve operational efficiency, hindering growth.
Given this circumstance, SMEs need the right tool to boost operational efficiency. The tool has to be cost-effective, user-friendly, flexible, and scalable.
What is better than ERPNext for SMEs?
If you are looking for a perfect ERP tool for your SME, consider the significance of ERPNext.
Here, we will cover the core module suite and significance of ERPNext in the context of the core challenges of ERPNext.
What Are The Core Modules Of ERPNext for SMEs?
Accounting and Financial Management
The accounting suite boasts innovative tools and features, including:
Journal and payment: Bookkeeping and accounting records in real-time.
Multi Currency accounting: calculate expenses; generate invoices and financial reports in multiple currencies.
Bank statement reconciliation: keep records and maintain bank statements of various suppliers and avoid discrepancies.
Financial Reporting: Maintain financial reports, get customized formats, auto invoices, and more.
Also Read: How To Find a Perfect ERP Solution
HR and Payroll
Hire, train, and evaluate human and management roles with an all-in-one HR and payroll suite featuring:
HR management: Manages shifts, attendance, and leave leaves
Performance evaluation: recruit, onboard, and evaluate employee life cycles and plan appraisals.
Payroll: plan the payroll structure, pay payroll tax, and generate payroll reports.
Order Management
ERPNext’s solution supports SME growth by streamlining order management. As we know, customer satisfaction is a core factor in increasing sales and profit. This ERP module includes:
Real-time sales and purchase: Track all KPIs, sales, and purchases on a single dashboard.
Serial number and variant: Keep track of product availability and stock location, manage all product categories, and manage lots.
Multi-Channel Sales
Manage orders, customers, and sales across all third-party sales.
Account receivables and payables
Send auto emails and keep your hands on all accounts receivable and payments easy.
Also Read: How Can You Create Product Bundles in ERPNext?
Sales and CRM
Sales Pipeline and Lead Opportunity: get actual time sales and marketing, and send a quotation.
Automate the Sales Work: Distribute work among teams, allowing easy collaboration across the sales department.
Customer Support: Multi-lingual CRM and help desk to assist customers with proactive support
Sales support and Analytics: Digital marketing tools, sales report generation, and adjustment to strategy with analytics.
Project Management
The project management module is specially designed for service-based SMEs. This feature allows small and midsized companies to tackle various projects, including:
Track projects in one place: Manage all projects and their deadlines, process them, and get a complete overview.
Team collaboration: Allocate tasks; manage priorities, deadlines, to-do lists, and real-time chats.
Budgets: Manage budgets and resources, assess costs, and analyse profitability.
Also Read: Top 6 ERP Trends to Watch in 2024
Why is ERPNext Essential for SMEs?Cost Effectiveness
ERPNext is a cost-effective tool that requires no investment. You can scale up its functionalities and make it reach its full potential.
Flexible Pricing
The flexible pricing models even help SMEs expand their ERPNext features while staying within the budget.
Operational Efficiency
Attain operational efficiency by automating the regular chores. It takes you to the path to operational efficiency.
Real-Time Data Access
Get real-time data in one place that makes the managerial process faster.
Business Insights and Analytics
Advanced analytical tools and modules allow owners to collect and analyze critical finance, sales, or customer data to get more insights.
Flexibility and Scalability
Growing SME needs are dynamic. ERPNext can meet changed requirements with scalable features. You will just have to add the additional features.
ERPNext For SME
ERPNext has created a perfect plan for small businesses to help them access the right tools to attain growth.
What’s Next?
Small and Mid-Sized Enterprises (SMEs) face unique challenges. Apart from budget limitations, they remain unadoptable to change. Considering their situation, ERPNext’s modules are designed. Even without making much effort, SMEs can react to the market change. Hence, they can leverage the change to drive growth. All they need is the right tool and the guidance of experts.
Make The Tech Clouds team your guiding force. We will assess your needs and offer customized ERPNext services. As experts in full-stack technology, we are dedicated to helping SME owners and are passionate about all technologies that can help SME growth.