Why ERP? And why should businesses use it?

 · 3 min read

Today, small and medium-sized businesses (SMEs) face a lot of challenges in running their operations just like large companies do. SMEs face a lot of complex operational issues but usually have limited resources to deal with them.

Small businesses like big businesses have to:

  • Plan and Manage their resources
  • Manage their accounts and track their sales/purchases.
  • Manage their tax obligations.
  • Pay their employees.
  • Manage deliveries within promised timelines.
  • Deliver quality goods and services.
  • Communicate with customers, answer their queries.

Large enterprises invest millions of dollars in highly sophisticated systems like SAP, to bring their multi-country, multi-company, multi-currency, global businesses into a single platform. This has helped them achieve consolidation of data/records in the fundamental processes such as accounting, taxation, payroll, reporting, and supply chain to name a few.

However, SMEs have been left out because they don't have the financial resources to license, hire programmers and customize such software to match their needs. Systems like SAP have been a no-go for most SMEs. Such systems need a minimum CAPEX or OPEX layout of $100,000 (One Hundred Thousand Dollars) and upwards.

So small businesses continue to struggle to keep things organized. They often use a mix of applications and tools such as spreadsheets, accounting software, web-based CRMs to manage their day to day record keeping. As a consequence, they have to access different systems to understand customers' master data, sales, cash flows, or profitability. The information exists in different silos. It becomes hard to combine the data in order to get useful insights or alerts. This leads to SMEs being reactive instead of being proactive in their day to day operations. With such a constrained way of working, there's limited scope for growth.

Monak addresses some fundamental problems SMEs struggle with them managing their resources:

  • Affordability: Monak is one of the most affordable ERP solutions you can find on the market today.
  • Completeness: All necessary modules are available.
  • Customization: It is easy to add fields, or add more features.
  • Efficiency: Computing requirements are relatively low (cheaper to host and manage).
  • Wholesomeness: A single system and database that allows multiple users to record transactions or extract data simultaneously.
  • Return On Investment: Monak offers the best returns on investment to organizations using it.

What is Monak?

Monak is a full-featured business management solution that helps SMEs to record all their business transactions in a single system. With Monak, SMEs can make informed, fact-based, timely decisions to remain ahead in the competition. It serves as the backbone of a business adding strength, transparency, and control to your growing enterprise.

Monak will help you to:

  • Track all invoices and payments.
  • Know what quantity of which product is available in stock.
  • Identify and track your key performance indicators (KPI's).
  • Identify open customer queries.
  • Manage employees and payroll.
  • Assign tasks and follow up on them.
  • Maintain a database of all your customers, suppliers, and contacts.
  • Prepare quotations.
  • Track your budgets and spending.
  • Manage your projects
  • Determine effective sales price based on the actual raw material, machinery and effort cost.
  • Get reminders on maintenance schedules.
  • Publish your website.

And many more.

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