The importance of product costing in handicraft business and how your ERP software can help you achieve it with ease.

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This article was published on: 11/02/21 10:19 PM

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“Price is what you pay. Value is what you get. – Warren Buffet”

 

Handmade with love. Can that be valued with money? 

 

It is priceless. 

 

However, crafts curated by skilled craftsmen have to be priced adequately as it brings home their bread and butter. Hence, it is not always easy determining how much to charge for your crafts. Every craftsman should realize the costs of their crafts, shipping and handling, and the time necessary to create the craft. Pricing is an important aspect of a home-based craft business. Charging too much won’t help as no one will buy. Charge too little, and you will end up losing out on the real value.

 

In this article, we will discuss aspects and a number of pricing strategies that may help you determine how much to sell your handicrafts for.

 

How to determine how much is appropriate to Charge?

 

A certain amount of research and survey is advisable to find out the market price of similar products being made. Online stores are also an important competition for handicraft business. Sites like eBay and Etsy are selling a wide variety of handicraft items on a discounted price, which is a threat to the retail market. You can always change or adjust your prices according to the times, but try to set a price and stick to it for several months at a time. You can always lower your prices and offer sales as an added incentive for potential clients to buy your product, or you may even decide to offer special deals for credit card purchases, bulk orders, or as a promotion.

To begin with, it is essential to determine what expenses your prices should cover. These include the cost you pay for materials and supplies, your time, and the amount of money you must necessarily spend on marketing or advertising. The most important of these is overhead costs.

Your prices should be able to cover the costs of, at the minimum, the amount of money you have put in your business; your telephone bills, a portion of the rent for your home or garage, insurance, supplies, and other expenses need to be considered when determining a price for your crafts.

 

Your pricing should also take into consideration the direct costs of operating your business. For example, the price you have to pay for fabric for your quilts, or wood for birdhouses or cabinets, are considered direct costs.

 

Lastly and most importantly determining the profit margin is very crucial, as without a profit no business is a success. 

 

Determining your final prices may be a trial and error endeavour. It takes careful consideration to determine the cost of your crafts. Your pricing will not only determine how much profit you can make but may also be used as a barometer or guideline to the future success of your business.

The best way to determine potential prices for your crafts is to compare what others are charging for similar crafts. You can do this by visiting physically, as well as online stores. Take the time to understand your competition, what they are selling, and how well they are doing. Find home-based craft business forum boards, or discussion groups on the Internet, and find out what others are charging for their crafts and how successful they are with those prices.

It goes without saying that in order to generate sales, you will need to price your crafts a little under what your competition is charging for some items; and if you are striving to create a brand name or premium craft, you will need to charge a little more than your competitors, but be prepared to explain why. The best part of creating art is being unique. If you can create something unique you can easily charge double your cost without being questioned.

A variety of online stores that sell a wide variety of crafts may be found at:

eBay, Etsy, Amazon, Google and Craigslist

Spend a day, or a week, browsing online stores, and try to find items that incorporate at least the number of materials and time spent that your craft does. Look to see how detailed other competitors’ crafts or products are, and what customers are willing to pay for such crafts. Find a middle ground. Ask yourself whether or not you would pay that much for your craft. If you would not, it is doubtful that your customers will, either.

manage handicraft with erp software

Strategising pricing 

 

A pricing strategy is a fancy name for determining how desirable your crafts are, and then fixing a price for your craft. For example, a pricing strategy may depend on supply and demand. This basically means how much of a supply there is for your type of craft, and how many people are demanding it.

 

The skill and time it takes to create a craft may increase its demand. For example, handmade twig furniture, or hand-blown or stained glass, may be in higher demand than stuffed Teddy bears. Every year, a certain number of toys, products, or services are offered to consumers that seem to exceed supply. This creates demand. This is especially apparent at Christmas time, when you are looking for that certain popular toy that is all the rage. The same concept of supply and demand may help you determine the price for your crafts.

 

You may also decide to offer sales to generate extra business, which are often known as bargain basement sale-pricing strategies. However, keep in mind that with this type of pricing strategy, you may barely break even, or may even lose money.

 

If you have a unique and highly marketable craft that is in demand in your area or region, you may try premium pricing, which means setting your crafts above the price offered by your competition. However, when doing so, make sure your crafts are of extremely high quality, are not offered widely in your area, and cater to individual tastes or design.

 

Costing and Pricing is made simple with the benefits of Expand ERP

 

Most businesses do well at figuring their cost of goods for simple products. But, once a product becomes more complex in terms of its raw material inputs, supply changes, or commodity price fluctuations, costing can be a challenge. If you cannot understand your products’ true costs, then you cannot price them competitively either. That leads to eroded profit margins or lost business.

 

  1. Expand ERP system does an excellent job of tracking all costs related to your products. With an accurate understanding of cost, objective understanding of margins will result – even in the face of fast-changing and ever growing market conditions. 
  2. Expand ERP software can bring together all the components of a product’s cost into a single unified view. Modifications and analysis can be done even for the most complex product. Cost can be defined  for both manufactured  items and purchase (buy) items.
  3. If an item is already in stock, you will understand its cost based on the stock valuation method you selected in your ERP (I.e. FIFO, LIFO, etc.). In fast-changing market conditions, you can change your stock costing at the click of a button so that you don’t validate your stock in an unrealistic manner.
  4. For component parts (assemblies, sub-assemblies, raw materials) of a finished product, you need  to understand your costs for each. Using a best fit  ERP system, you will be able to break down views of your final product into its component parts, each of which shares its cost data automatically when rolled up to the cost of the material master for any finished product in which it is used.
  5. It is equally important to see all your cost data up-to-date market realities reflect in those costs. Again, an ERP system lets you do that with a single data update. For example, a feature called Material Revaluation in one package, enables users to make changes to existing stock prices. So, when the market prices of your material inputs change dramatically, you simply adjust the cost, and the accounting changes are automatic.Expand ERP software makes such updating easy and time-saving.
  6. Today’s ERP systems let you report on all aspects of product cost as well as profitability. ERP integrates across the business to provide views of a product’s sale price, materials costs, indirect costs, and ultimately, profit margins. For quick checks on your business health at a higher level, Expand ERP system can roll up cost and sales price data to demonstrate how profit is changing over time. You can even gain insights into your profitability on a customer-by-customer basis.

 

One of our renowned clients in the handicraft industry, Elementary by Dileep Essentials Ltd. is a first-hand example of how moving to our ERP has been the best decision of their business success. Today Elementary products are sold globally on Amazon, Myntra etc online stores along with their 18 retail; outlets pan India, while Expand ERP software is happily managing their daily operational tasks and challenges with ease and finesse.

 

The most attractive feature of Expand ERP regarding the costing and pricing capabilities is that we provide easy-to-use solutions with intuitive user interfaces. Setting up your best fit ERP to report on product costs, pricing, and profitability has never been easier. Adopt Expand ERP -India’s best-fit cloud ERP software for mid-sized manufacturers in export and import industries and manage your handicrafts business seamlessly.

 

For more information contact us at +91 9007026542

Manage your GST e-invoicing digitally with your cloud ERP software.

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This article was published on: 28/01/21 11:04 AM

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“Progress is impossible without change, and those who cannot change their minds cannot change anything.” – George Bernard Shaw

 

E-Invoicing of GST is probably the most sought-after topic of discussion since 2020 in the finance sector. In 2019, Finance Minister Nirmala Sitharaman had introduced the filing of GST, electronically for companies with turnovers of more than 100 crores. Owing to the pandemic the transition was delayed and is now being formally introduced phase-wise. However, companies over 100 crores have started filing the E-Invoice mandate since 1st January 2021. While companies over 500 crores have already filed since November 2020.

 

Are you worried that this system might add on to your workload at this hour of resurrection?

 

The good news is, that it is easiest to automatically file your E-Invoice with your ERP software which has all the compliances fit in as per your company requirements.

 

One of our clients in the Textile industry was finding it a challenge to adhere to the new system of E-Invoicing in GST. Our biztech experts were successfully able to virtually train the accounts department how to file the GST E-Invoice and thereafter they have been able to take over the challenge with ease and focus on other bigger issues in managing their business.

 

Expand ERP India’s best fit ERP software is all set to bring in this change in financial systems along with the country as we too believe in progression and development. With our best fit ERP software best fit according to your company’s specific needs, E-Invoicing will be an easy task to overcome.

 

Some important knowhow about E-Invoicing:

 

E-Invoicing is a process in which all the B2B invoices created by an accounting software will be validated electronically by GSTN. E-Invoice does not mean generation of invoices from a central portal of the tax department, as any such centralization will bring unnecessary restriction on the way trade is conducted. In fact, taxpayers have different requirements and expectations, which can’t be met from one software generating e-invoices from a portal for the whole country.

 

Invoice generated by each software may look the same, however, they can’t be understood by another computer system even though business users understand them fully. For example, an Invoice generated by the SAP system cannot be read by a machine which is using the ‘Tally’ system. Therefore, the need was felt to standardize the format in which electronic data of an Invoice could be shared with others to ensure there is interoperability of the data. There would not be any change in the electronic creation of invoices. Only standard format needed to be implemented in all the accounting and billing software so that it can generate JSON of each invoice in such format which can be uploaded on GST Portal for validation and approval.

 

GST Council has given the responsibility to design the standard of e-invoice and update the same from time to time to GSTN which is the custodian of Returns and invoices contained in the same. Adoption of e-invoice by GST System is not only part of Tax reform but also a Business reform as it makes the e-invoices completely inter-operable eliminating transcription and other errors.

Benefits on E-Invoicing System:

 

Better taxpayer services – One time reporting on B2B invoice data in the form it is generated to reduce reporting in multiple formats. Sales and purchase register, E-way bills can also be generated by using this format. There will also be a substantial reduction in input credit verification issues as same data will be reported to the tax department as well to the buyer in his inward supply (purchase) register.On receipt of information through GST System as buyer can do reconciliation with his Purchase Order and accept/reject in time under New Return.

Goods and Services Tax (GST), a major reform in the field of indirect taxation, was implemented almost 3 years ago and the technology vertical appears to be still in the growing stage. The GST laws are getting structured and reformed with each GST Council Meeting in order to make them more feasible. And, this is evident that managing GST compliance is very much dependent on technology.

 

All the key aspects starting from generating e-invoices, GST registration till filing of the return, raising of e-waybill, filing of the refund claim, etc. and the inter-relating of all these aspects on the PAN India basis is dependent on the technology.

 

Digitalization has leveraged the need for best in class technology in managing GST compliance. However, even after all the efforts made by the government, enterprises are still facing issues with GST, e-way bills, and e-invoicing.
Step by Step Process to Generate an E-invoice under GST

 

Step 1 –  Invoice will be generated by the supplier in his own accounting or billing system

 

Step 2 – JSON file will be generated by the supplier to upload on the IRP.

 

Step 3 (Optional) –  Unique Invoice Reference Number (‘IRN’) can be generated by the supplier on the basis of 4 parameters like Supplier GSTIN, invoice number, financial year and document type.

 

Step 4 –  Supplier will upload the JSON file of the e-invoice along with IRN already generated directly on the IRP or through GSPs.

 

Step 5 – IRP will generate IRN and validate IRN of JSON if already uploaded by the supplier. IRP will add its signature on the invoice data as well as a QR code to the JSON.

 

Step 6 – Supplier will download digitally signed JSON with IRN along with a QR code. IRP will share back digitally signed e-invoice to seller and recipient if email id’s are mentioned on the e-invoice.

 

The generation of E-Invoicing will be the responsibility of the taxpayer who will be required to report the same to Invoice Registration Portal (IRP) for authentication, which in turn will generate a unique reference number (URN) and digital sign the e-invoice and also generate a QR code and will return the invoice to the seller. IRP will also send the digitally signed e-invoice to the recipient of the document on the email provided in the e-invoice. The GST Council has approved the introduction of ‘E-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System, starting from 1st January 2020 on a voluntary basis. Since there was no standard for e-invoice existing in the country, the standard for the same has been finalized after consultation with trade/industry bodies as well as ICAI after keeping the draft in public place.

Key Benefits of adopting Expand ERP Software

 

1. Easy Integration and Deployment – Seamless Integration with all the leading ERPs such as SAP, Oracle, Microsoft Navision, etc. which does not require any additional hardware or software for integration.

 

2. Customizable – It can be customised as per the requirement of the enterprise to ensure maximum compliance and growth under GST.

 

3. Accurate Cash Flow Management – Reduces cash flow mismanagement by paying taxes on time and proper reporting thereby ensuring efficiency in compliance cost.

 

4. Reduces Errors – Data validation checks are initiated to eliminate duplicity and ensure factual precision.

 

5. Robust Reconciliation – Robust reconciliation module for finding discrepancies in ITC claimed and reporting done by the supplier. Thereby, ensuring 100% accurate ITC claim.

 

6. Risk Management – An intelligent dashboard that provides a compliance overview to detect tax risk and ensure tax efficiency.

 

7. Secure and Reliable – We are affiliated with ISO, VAPT certificate, and 2-factor authentication on HTTPS secured gateway ensuring safety and security.

 

8. Compliance Alert and Notifications – Automated reminders to ensure compliance is done on time. Thus, achieving efficiency in compliance cost.

 

9. Made in India – Since it is made in India it knows the Indian Government compliances for all industries

 

Our GST compliance solutions have enabled enterprises to comply with the provisions of GST effectively and efficiently. These solutions are created under the strict supervision of financial and technological experts that enables enterprises with better growth and governance under GST. Adopt Expand ERP software for the easy transition of your financial invoices along with your daily business operations and see your organisation grow fast.

 

For more information contact +91 9007026542

Top reasons why ERP implementations fail and solutions provided by Expand smERP

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This article was published on: 19/12/20 3:25 PM

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“Failure isn’t fatal, but failure to change might be” – John Wooden

 

Planning for an ERP implementation in the near future? Are you worried about rising costs? Are you unsure about what is the best fit ERP software for your company? 

 

If these are the thoughts pondering on your mind right now, this article will bring you the solutions for every query that you have.

 

An ERP software implementation surely comes with a lot of challenges, even though its benefits are manifold. In the next few years, your business value will reach new heights and touch new shores of expansion, with a successful and best fit ERP software integration. With prior knowledge of the challenges and bottlenecks, you can be better prepared to counter any such obstacles with ease. 

 

  • Inaccurate Requirement Analysis:

 

ERP implementations in most cases fail because of inaccurate requirement analysis. One needs to know the difference when an ERP application is integrated with an e-commerce site and a POS software. However, in most companies requirement analysis is done by employees with limited knowledge of ERP implementation. Primary emphasis is laid upon the cost and faster execution. But unfortunately, the project fails in most cases as the requirement is not completely understood in the chaos of bargaining with the costs with the vendor. To have more clarity on ERP implementation, case to case differences, actual time and money to be invested, involving people with good knowledge on ERP is a must. Team Expand understands your business well with over 16 years of extensive market research and development in the industry. Our team understands and analyses the specific challenges and needs faced by your business and then curates the software accordingly.

 

  • Inadequate  Training:

 

Following closely on the lines of the previous challenge discussed, lack of knowledge continues to be a hurdle for a successful ERP implementation. When your company is preparing for a major data transfer from the legacy system to a new ERP reality, it is necessary to have a basic understanding of the changes that are taking place, the new interface, and risks or losses involved in the process. You may arrange for a brief knowledge transfer session for all employees or anybody who would be part of the new system, before the actual change takes place. Not an elaborate training program followed by a test, but a simple 45-minute session by the knowledgeable resources, for all to attend. Training videos of the same may also be circulated. Expand smERP offers complete training of users post implementation within 50 hours by trained technicians and constant support even after implementation.

 

Expand smERP encourages constant help and support of employees of any business. Post implementation, Expand Sure smile provides 24×7 customer support and user training for proper knowledge of the usage of the software.

 

  • Inefficient Project Management:

 

You should have the right resources in your team for customer success. We need to understand their worth and utilize their full knowledge and potential for efficient project management. Trust them, mentor them, train them and let them come up with a full-proof project management plan that will not only ensure a successful ERP implementation but also derive desired ROI  for your business. Only with meticulous project management, one can achieve that, no amount of cost-cutting or package deals help.

 

  • Customization:

 

ERP software is often misunderstood as a wholesale package solution for a company. But unfortunately, it is not. ERP applications are actually a framework with which a customized solution is built. This means, your requirements have to be defined well in advance and accordingly a customized ERP solution will be created. For that, you need to define the workflows and do a capability analysis, beforehand. You might have to make a few minor adjustments in the application solution to meet all your enterprise needs. These adjustments or modifications differ from suite to suite and might be required at the beginning or sometime in the middle of implementation. If you are prepared for capacity planning, delays in implementation and time loss because of system outage may be kept at bay. It is advisable to invest in a best fit ERP software that suits all the unique needs of your business. A ‘one size fits all’ ERP system is most likely to fail.

 

Expand smERP is a best fit ERP solution for mid-sized manufacturers in export and retail industries. It is industry-specific and fits in according to your specific business needs. ERP is known to grow along with your business.

 

  • Rising Operational Expenses:

 

Overhead cost is one of the biggest challenges of ERP implementation. The initial cost of implementation is high, but the customization and maintenance costs are even higher. The more customization needs are, the higher are operating costs. Maintenance costs are of course a necessary evil, which cannot be brushed aside. However, with an efficient requirement analysis and resource planning, much of this cost may be brought under control. Sit with the best-qualified professionals in the organization to find out what you really need for enhancing your business value. Seek for features that will add value to your product or service, attract more business, and position you better as an entrepreneur. That way, you will get the true value for your best fit ERP solution without spending a huge amount. Expand smERP cloud software involves zero upfront costs. Only a concurrent user price is payable as per your usage. Investing in Expand ERP cloud software is a value for money solution that derives fast ROI.

 

These are certain generic challenges while implementing ERP software. Depending on the sector in which the company operates in, the extent of complications may vary. This will ensure the implementation process is smooth without any glitches. Team Expand assures you a hassle-free cloud ERP software integration experience with the utmost ease. Grow your business with Expand smart ERP cloud softwares.

Why a best fit ERP is essential for the food & beverage industry and how it helps faster growth.

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This article was published on: 17/12/20 7:42 PM

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With over 16 years experience in the manufacturing sector , the most essential thing to note about working with such a wide range of companies is the fact that each industry is different, not only in their processes but also in what they look for in an ERP solution . The food and beverage industry is no different. I have highlighted the indispensable functional areas of the industry that need to be addressed in a food and beverage ERP solution.

 

Any manufacturing industry, regardless of size needs the help of technology to derive optimal growth and ROI. In order to survive the cut throat competition a best fit ERP software is extremely essential.The Food and Beverage (F&B) business operations are complex, chaotic, hectic and very precise in nature. However, with the implementation of an ERP software for Food and Beverage Industry, all the complex processes within the business can be managed with ease. Today, cloud-based ERP software have become extremely popular among F&B businesses, as they enable business owners to acquire visibility, insight and control over their complete operations. A cloud-based Food and Beverage software also optimizes the production process, simplifies procurement as well as inventory management. Moreover, a cloud-based ERP for food industry comes with scalability and flexibility to the users so that they can expand and diversify their business as per their unique needs and is accessible remotely, anywhere anytime.

 

Expand ERP software is India’s best fit ERP company for manufacturers in the export and retail industry. We have empowered several specialised industries like the food and beverage industry with an ERP software that has accelerated growth.

 

However, before you proceed with implementing an ERP for Food and Beverage Industry, there are certainly important factors to consider as enlisted below:

 

1. Identifying unique needs: 

 

A proper evaluation of your business by assessing your needs and processes so as to determine what exactly you need from an ERP software for Food and Beverage Industry. It is viable to begin by assessing the potential business challenges and individual pain points you need to take into consideration as well as determine the Return on Investment (ROI) your business expects to recover from the ERP. A meticulous need identification and process mapping done in the initial stages leads to an easier and faster ERP software Implementation.

 

2. Recipe Management:

 

The main area of focus for food and beverage ERP is recipe management. Each recipe ingredient not only impacts the taste of the product but also the nutritional value, a metric monitored strictly by numerous governmental regulatory agencies. Food and beverage ERP solutions hope to offer the following feature functions to aid in recipe management:

 

  • Version control of items such as batch sheets and recipes/formulas allows the manufacturer to strictly manage which version is to be used in production.

 

  • Formulation helps manage what ingredients are being used to create the end product. There might also be a requirement to calculate nutritional values that result from the formulation.

 

  • Alternate BOMs assist the manufacturer in quickly and efficiently identifying other raw materials that can be     

 

3. Search for Higher Mobility

 

As mobility and the concept of ‘Bring Your Own Devices (BYOD)’ has increased across industries, accessing ERP Systems from desktops alone is no longer an option. So, you need to choose an ERP Software Solution for Food and Beverage Industry that enables your users to be functional on smartphones and tablets, and at the same time ensuring that all the operational data is safe and secure.

 

4. Cheap Price Doesn’t equal to the  Best Quality ERP Software

 

Businesses should not choose an ERP Solution based solely on their reasonable price. Cost is also one of the important factors, but cheap ERP Systems typically lead to more potential issues later on, including the inability to adapt to meet new business demands, non-compatibility with 3rd Party Devices and Applications, etc. F&B businesses that follow these cautious steps are likely to end up having an ERP and that is apt for all their critical business needs.

5. Choose a best fit ERP Software:

 

Businesses should carefully evaluate the number of modifications necessary to deploy ERP Software. Highly customized ERP Systems lead to higher costs, not only initially but also when upgrading. F&B Businesses with unique or complex requirements need to understand these considerations so as to eliminate steep cost curves. Moreover, customization will need a longer implementation time, longer ROI and more instability. Expand ERP software is Indian made for the Indian business and perfectly fits into your business-specific needs. It also assures an easy roll out within 28 days, online implementation. 

A robust and best ERP company in India ensures that your company runs efficiently consistently. Expand ERP software for Food and Beverage Industry will provide you with the ability to take control of your entire business and keep it running efficiently. Moreover, it will also help you build customer relations management while keeping your business in line with the required rules and regulations.

 

Our patron K.D.Liquors is a good example of how our ERP escalated the growth of their business while organising their operational functions and departments with precision and accuracy. They achieved their desired sales in less than a year of implementing Expand ERP software solutions

 

Thus, with over 16 years of market experience and research, Expand ERP software has proven to be India’s best fit ERP software which perfectly fits into mid-sized manufacturers in export and retail industries. It is made in India, for the Indian business and therefore understands the market demands well. An ERP that is best compatible with your business will give you the best ROI. If it doesn’t fit, never force it. To know more about how our ERP software will smoothly fit into your business process, call us for a fitment test at +91 9007026542

Why SMEs should adopt Change Management with a best fit ERP software

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This article was published on: 7/12/20 2:02 PM

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The great philosopher Socrates once rightly said,

 

The secret of change is to focus all of your energy not on fighting the old but on building the new.” 

 

An effective change management is possible when a good idea is transformed into a great one. A systematic all-inclusive and best fit ERP software can bring together all internal communication channels and integrate the business activities to optimize productivity and ROI.

 

By breaking outdated traditions and habits, you will not only create new opportunities for your business but also explore more scope to innovate.

 

Implementing a new management system might seem tedious but when it comes to your company’s growth and responsiveness, one should consider the change as necessary. Users need to be inspired to take on the change that the world has adopted in order to be sustainable in the competitive market.

 

For example, in the task of reorganizing a division in your company, shifting responsibilities, changing lines of authority and remodelling departmental goals are probably the most tangible tasks for your proposed change. These goals need to be supported by company data and made possible through existing management tools. An effective and best fit ERP software makes such change management seamless, consolidated and effective.

 

To prove this statement we have a list of reasons that advocates the indispensability of ERP software in a growing business.

 

Expand ERP assures hassle-free ERP implementation:

 

The first challenge before taking this step of transition is to change the perspective of the people who have accepted themselves in a comfort zone. Pulling them out of this with a new mindset and convincing what is best for the growth of the organization is half the battle won. Traditional SMEs are not ready to change. They have the fear of the unknown. In the fret to adapt to new technology, they miss out on what wonders can be done by taking a small step towards the upliftment of the company.

 

Most employees in a traditional but growth-oriented organization worry about the environmental adjustments after the change takes place in the business. The concerns are justified. In this blog, we have enlisted the top reasons for SMEs who are just a step away from adopting an ERP implementation at their workplace but are contemplating fearing the change.

 

Expand ERP, one of the ERP software companies in India is India’s best fit ERP software for SMEs in the Retail and Export industry for the past 16  years. We understand your business needs as much as you do and therefore have curated a single robust best fit ERP system to aid you to enhance your business with ease. Our software is intuitive and intelligent and it grows along with your business.

 

Top reasons why Expand ERP is the best fit for the evolution of your organization:

 

  • Accuracy in information – All team members need access to accurate data and information which is imperative to support change management. All team members should have access to the same unified data. An ERP system provides a centralized source of information that all employees access to stay on top of the logistics of any company midsize or large scale. This optimises clarity and transparency among executives, management and team members and results in the better trust factor.

 

  • Accuracy in communication – For logistical purposes, accuracy in communication is imperative among team members. It is also essential to relay the intent of the change. Without an understanding of the goal from an internal change, the team will lack direction in their new positions and responsibilities. Along with this, each employee should be able to openly communicate with the people in the company who are responsible for the change. An ERP system facilitates this change and ensures free communication in between departments for transparency and accuracy of information among all employees and users.

 

  • Comprehensive business intelligence – ERP systems indicate where changes need to be made in the company with dynamic tools. Having access to business intelligence reports that involve the activities of all departments can reveal opportunities for process improvement and redistribution of responsibilities. Without a consolidated business management software, these opportunities for change only reveal when profitability is threatened. Well informed executives will have a greater opportunity for success than those driven by an urgent need to preserve the company.

 

  • Well protected data – Unprotected data is at high risk during internal change. It can be mistranslated, duplicated or simply lost. ERP software identifies immediately such data redundancies and manages to protect information and verify against existing records and is accessible within a protected space. With an ERP change management implementation is done outside of administrative concerns. 

 

Connecting your company with an ERP solution can support current change initiatives, while also revealing opportunities for future growth. With a best fit ERP solution, change management will be effective, conducive, secured and productive.

 

  • We at Expand provide training by our Biztech experts for the first time users and are constantly available after-sales for service and support. With Expand Sure Smile be rest assured to share a smile with us after a successful ERP implementation within 28 days. Our team is available 24×7 for your support and help.  

 

  • Expand Sure Shield offers 100% data security where you can grow your business with complete peace of mind. Data is on the cloud, stored in multiple locations ensuring maximum safety with trusted technology platforms (Microsoft Azure, SQL Server). We provide 99.9% uptime and SSL (encrypted) Data Transmission. 

 

  • Further, the myth that an ERP implementation involves a huge cost and is unaffordable by SMEs is busted by our Freedom Pricing concept where you pay as you use. There is no huge investment in infrastructure as data is stored in the cloud. The concurrent user fees are based on subscription with an absolute unbelievably reasonable cost. The ROI on such a best in class technology is optimal. 

 

  • We believe that change is something that has to be brought in and does not occur on its own. The leaders in the organisation have to be inspired and inspiring enough to take on the challenge. Senior leaders in your organisation work as a catalyst to support the change and embody aspirations. The communication has to be clear and well in advance so that all employees can be mentally prepared and well assured of the changes that are going to occur.

 

  • Furthermore addressing fears and challenges of the employees have to be prioritised. An unhappy employee can act as a source of plague in the work environment resulting in disharmony and unsettled workforce. This can lead to failure in the ERP implementation and also the failure of your company. 

 

  • Changemakers can begin by comprehending the current work processes of the employees. Also what changes the employees need to make after ERP software implementation is also a concern that project leaders must-have.

 

The desire to make the shift needs to be instilled with logic and reasoning with time in hand in order to make the change successful. A very crucial factor for proper change management is emotional intelligence. People will only accept persuasion when they find the approach to be empathetic. The correct balance needs to be struck between competency & ambiguity. 

 

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