A Cloud ERP and a Startup
Is a Cloud ERP relevant for a startup?
The world of a Startup
Darwin’s theory of survival of the fittest fits the world of startups literally to a tee. It is a cutthroat segment of business where only the fittest survive and many perish by the wayside.
There are over 150 million startups globally with more than 50 million being added every year to the global tally and only a few of them only get a taste of business success. However, a successful startup experiences exponential growth and business success that was not considered possible in traditional business firms and therefore the dream prevails in the dynamic and adventurous youth of today that is willing to take risks.
The challenges
The pressures of competition from established players and other startups pose a survival threat to a startup. This keeps them on their toes and even minor mistakes may cause issues in the business viability. To survive this threat, they need to be very lean and fit and have sufficient punching power to fight with business rivals above their weight class.
Another challenge is the security threat to data as the infrastructure is smaller and they have limited budgets. Any security breach can lead to loss of sensitive data that can impair the functioning and its business viability.
For a startup, each and every customer is critical and meeting and exceeding customer expectations is the key to growth. Hence any sales commitments must be honored in letter as well as spirit and it is better not to place an order that can’t be honored rather than place an order that isn’t completed and have a disgruntled customer who vents his/her ire publicly and amongst his/her contacts. This is perceived as a demonstrated lack of respect for a customer and his/her time as well as inability to keep one’s word and hence it is a reflection of business character and ethics. Therefore, it is vital that only those commitments be made that can be met.
Efficiency and Effectiveness
Improvement of efficiency of business processes due to better monitoring and adherence to standard business process models will help a startup streamline and optimize its operations in the best manner possible. It cannot invest heavily in infrastructure and resources as the spending budget is limited. A subscription fee based solution is more up their street provided it is comprehensive and has the desired functionality and easy options for scaling up/down based on need.
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Why an ERP
For business verticals which have multiple business functions and geographic locations, synchronization across business functions and locations is important. ERP software helps in bringing all the data from all locations together and connects everyone on a single platform. With the help of ERP an organization can improve its efficiency, which is very imperative for any startup. The ERP provides the sales, marketing and customer service teams with all relevant business data and reports on time and with a few clicks.
You can use a single solution for all the core business needs with which you can manage your inventory, manufacturing, finance & accounts, human resources and marketing from one solution. You are thus saved from data duplicity, data porting and duplication of effort which cannot be avoided in standalone functional systems like one solution for accounting and one for marketing. A comprehensive one stop solution is the best possible choice as long as the fee structure suits your budget.
Without the right ERP it is very difficult to do proper planning for procurement, production of the materials, dispatch, accounting, monitor marketing activities and delivery. Operating and operational control can help a startup save a lot of money.
Why a Cloud ERP
With the appropriate cloud ERP solution, any organization can be aware about the right way to tackle a crisis like shortage of funds, inventory, and deliveries, etc on the go anywhere, anytime and on any connected device. You can be updated always about your inventory level even in a meeting on a client site and update all the developments from your device once the meeting is over without having to go back to his own office or factory site. You can set up notes, communications and trackers so that the backing team may follow up and deal with the client efficiently and effectively even if you are not available.
This automation of business processes and their monitoring with real time insights and customizable dashboards is possible only in an ERP and the best deployment option suited for the financial limitations of a startup is a cloud ERP with its subscription fee model that is affordable with functionalities that were till recently only available with legacy on-premise ERP solutions.
With the right ERP solution, process waste can be eliminated after identification hence optimizing processes for better efficiency and monitoring and since all data updating is done in real time so commitments that are made are possible to honor and issues are tackled as and when or before they occur.
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The Fit
Also, since a startup rarely sleeps, the cloud ERP too is available for access anytime and anywhere even through a mobile device provided that there is internet connectivity. In a startup, today’s work is required to be done yesterday and the cloud ERP is ready and enabled for that with 24X7 access and the improved efficiency of the enabled business processes so that business processes take lesser time and have lower cost burdens. Security competence for a cloud ERP is now far better than that offered by traditional ERP systems and improving as we speak as billions of dollars are spent every year with some of the best minds working on it.
With real time inventory updating and real time insights, the decisions made are accurate and relevant as they are driven by accurate data.
Most compliance needs are inbuilt into the right cloud ERP with easy data storage options that are affordable and highly secure on the cloud reducing your costs and maintenance hassles.
All these features and more are included in the subscription fee and there are no riders in terms of additional hidden costs. You pay based on your needs/options chosen and not a cent more.
The cloud ERP has demonstrated strong ROI returns on every dollar spent and now even the bigger players are trying to leverage the advantages of the cloud ERP.
Startups can leverage the affordable with high functionality advantage of a cloud ERP to keep swimming in the various tides of modern markets while dealing with threats effectively, optimize their business operations as well as meet compliance needs with a few clicks. All this can be done without adding to existing infrastructure and resources and with easy & convenient process migration and training options.
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OUR VALUE PROPOSITION
We at Versa Cloud ERP have created a multi award winning, secure, comprehensive Cloud ERP solution that is e-commerce and mobility ready. The Versa Small Business Cloud ERP dba Versa system is accessible anytime, and on any smart mobile device. It provides support for e-Commerce and Multi-Channel Retail includes integration with 3rd party e-commerce platforms as well as POS systems.
In addition, the Versa Small Business Cloud ERP system includes the ability to remotely manage Master Data on multiple e-commerce and POS systems including product description, pricing, images, etc.
It is affordable and targeted towards small businesses and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast growing small businesses, between $1-$50 M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions.
Built from the ground up on the latest cloud and mobile technology, the Versa Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
We will help you in a structured manner to migrate your data seamlessly from Epicor, Infor, QuickBooks, Microsoft Dynamics, MYOB, Sage, SAP Business One etc when you make the decision.
To know more, please visit www.versaclouderp.com or contact us directly.
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