Despite being the backbone of the economy, SMEs constantly face various difficulties. There are various hurdles, including market competitiveness, reporting requirements, strict budgets, compliance, etc. As the future of work is in small and medium-sized firms, meeting their demands and difficulties becomes essential. Let’s examine some unique issues faced by each industry and the issues faced by SMEs.
Know the Problem-Solving Solution of SMEs
- Manufacturing Industry Challenges – With rising customer expectations come more complex production processes, a lack of available space and a need to obtain raw materials. The biggest obstacles are managing enormous amounts of data and obtaining useful insights into logistics, standard costing, supply chain, etc.
Additionally, the COVID-19 pandemic made contactless transactions necessary and the ‘business online’ notion an attractive trend. Due to this, SMEs engaged in manufacturing online and faced competition challenges. Closing down was one option and becoming digital to compete was another.
The Solution: ERP for Manufacturing Companies – ERP for SMEs was created as a last-ditch effort to reduce management burdens and enable real-time operation of all operations in manufacturing enterprises. Additionally, ERPs are neither expensive nor complex. Manufacturing SMEs could conduct their business operations with employees who just needed a basic understanding of IT. ERP for the manufacturing sector gives businesses the ability to:
- Use reliable, business-ready ERP software.
- Streamline your primary production procedures
- Adapt to current and future company needs
- Pharmaceutical Industry Challenges – Pharmaceutical firms were heavily involved in COVID-19 and broke records by creating potent vaccines. The pharmaceutical sector faces difficulties like the following as it expands:
- Medication monitoring
- In charge of GMP compliance
- Integration and streamlining of processes
The Solution – ERP for Pharma Companies – To track data, manage batch testing and boost productivity, your pharma business needs an all-in-one software solution. Benefits of ERP for the pharmaceutical business include:
- Automated manufacturing
- Process management
- Development of quality and production reports
- Report evaluation
- GMP conformity
- Traceability
- BMR and BPR management in real time
- Challenges Faced by the Trading Industry – The need to coordinate all functional activities is growing. This includes managing, moving, classifying goods, conducting receivables and ageing analysis, and monitoring sales orders and invoicing.
The Solution: ERP for Trading Companies – ERP for trading companies makes tracking and managing products in the pipeline simpler. This automated system is capable of handling supplier or manufacturer leads effectively.
For ERP Solution for SMEs, BizERP is a wise choice. It is a management tool for small to medium-sized businesses. One of the nation’s most dependable ERP options is Biz ERP. Contact us to know more information.