Why Small Businesses Must Invest in Softwares (CRM, ERP etc. )

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Why Small Businesses Must Invest in IT

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<p> </p> <p>In response to the customer feedback we have upgraded the below features in ERPNext. Hope these helps to save time and manage your business more efficiently.</p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>1. Customer and Supplier Codes :</strong> <br /> Customer and Suppliers can now be saved by customer and supplier codes respectively. These can be alpha numeric. There is also an option where code can be same as customer name also.<!--[if gte mso 9]></p> <![endif]--></p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>2. Expense Voucher:</strong> <br /> Your employees can now claim expenses through Expense Voucher link in the HR module. Employees can specify the type of expense and the amount to be claimed. The concerned authorized person can then sanction the amount.<!--[if gte mso 9]></p> <![endif]--></p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>3. Notification Emails:</strong> <br /> You can now go to “Notification Settings” in “Setup” page and select transaction documents for which auto email should go to the concerned contact person’s email id. You can also modify the content of the email.<!--[if gte mso 9]></p> <![endif]--></p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>4. Attendance module :</strong> <br /> You can now mark attendance everyday for your employees in HR module. Attendance can be marked in an excel sheet and uploaded in the system as well. The excel sheet template for marking attendance can be downloaded from the system.<!--[if gte mso 9]></p> <![endif]--></p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>5. Customized Reports:</strong> <br /> You can make your own reports through Report Builder and save them. These reports can be viewed if you click on Custom Reports in each module at the end of readymade reports.<!--[if gte mso 9]></p> <![endif]--></p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>6. Employee Appraisal:</strong> <br /> You can now measure the performance of your employees using Appraisal form in the HR module. It will have the list of employee's KRA, period, its weightage and score earned. Score earned can be added for submitted Appraisals at the end of the period. Only the authorized person will be able to fill in the KRA details. You can go to the Authorization Rules from Setup page and set rules for Appraisals. <!--[if gte mso 9]></p> <![endif]--></p> <p><!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--><strong>7. Transactions for project based companies :</strong> <br /> For non standard customized products (eg: Heavy machinery for a plant) which involves a number of parts to be delivered and assembled to complete the final product you can create a project master. This project will be linked to sales order, delivery notes, invoice and other purchase transactions. You can also get project based reports like gross profit, costing, deliveries etc. from the Projects module.<!--[if gte mso 9]></p> <![endif]--></p> <!--[if gte mso 9]> <p style='line-height:1em;'><![endif]--> <p><strong>8. How Do I? :</strong> <br /> You can find a new link called “How Do I?” in Accounts, Sales and Stocks modules. This is a help document.</p>

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A few months back, I read an industry report (Forrester?) that IT expenditure by businesses on an average is around 4-5% of their total expenditure. For Financial Services its around 7% and for Manufacturing companies, it is around 3%. (I can't remember how much of this is cap-ex) With this kind of investment, no wonder companies are looking at the future to consolidate their brand and competitive advantage.
For most Indian companies, the investment in IT tends to be less than 0.5%. This is something business managers and owners need to reflect upon.
Meeting customers, we get the feeling that IT has a big impact on the brand value of the company. These days, customers are constantly looking at signs that show that they are working with a progressive company. Customers like getting as much information online and want a company's website to be interactive. Some reasons for impacting brand value are:

1. IT makes the company efficient. No one wants to buy from a company that is inefficient.
2. IT enables better customer service. With increased communication and data capture, customers are more aware of the status of their purchases and service requests
3. IT makes companies less bureaucratic = Fewer followups, less hassle
4. IT makes employees more accountable. Customers know that employees are tracked a lot more and hence more tuned towards their requirements
5. IT shows that the company is constantly innovating. By having better IT service than your competitors you should to the customer that you are more innovative and constantly looking to tailor your offerings.

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A few months back, I read an industry report (Forrester?) that IT expenditure by businesses on an average is around 4-5% of their total expenditure. For Financial Services its around 7% and for Manufacturing companies, it is around 3%. (I can't remember how much of this is cap-ex) With this kind of investment, no wonder companies are looking at the future to consolidate their brand and competitive advantage.
For most Indian companies, the investment in IT tends to be less than 0.5%. This is something business managers and owners need to reflect upon.

Meeting customers, we get the feeling that IT has a big impact on the brand value of the company. These days, customers are constantly looking at signs that show that they are working with a progressive company. Customers like getting as much information online and want a company's website to be interactive. Some reasons for impacting brand value are:

1. IT makes the company efficient. No one wants to buy from a company that is inefficient.
2. IT enables better customer service. With increased communication and data capture, customers are more aware of the status of their purchases and service requests
3. IT makes companies less bureaucratic = Fewer followups, less hassle
4. IT makes employees more accountable. Customers know that employees are tracked a lot more and hence more tuned towards their requirements
5. IT shows that the company is constantly innovating. By having better IT service than your competitors you should to the customer that you are more innovative and constantly looking to tailor your offerings.

Larger corporates are enjoying the benefits of IT to scale their businesses. SMEs do not understand software and probably do not have a mindset to invest in their growth. Hopefully the scenario changes faster.

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