Choosing an ERP alternative for small businesses

Choosing ERP systems for small businesses can be a minefield. They are not for everyone as ERPs are by their very nature, complex systems. These systems are typically suited to larger SMEs and corporations as they can be expensive to implement and can take a considerable amount of time to bed in. There are surprisingly few ERP alternatives in the marketplace that give you near-ERP style functionality and also, that can be implemented in a fraction of the time of an ERP.

Do you really need an ERP?

Enterprise resource planning (ERP) software is more than just accounts software. It can certainly help make your business more efficient, however for many SMEs an ERP is more than they need. An ERP integrates many business functions such as HR, CRM, stock management, manufacturing, accounting and even retail data from EPOS systems. For companies that need mainly accounting and financial management, an ERP is more than likely overkill for their needs.

What makes a great ERP alternative for small businesses?

A great ERP alternative solution would be to choose a best of breed financial management system and to bolt on software for specific tasks as needed, such as a CRM. To ensure success, these systems would ideally be integrated, sharing data between the systems and avoiding the need to re-key any transactional data. This approach can prove to be a far less expensive alternative to implementing a full-blown ERP system, and can still give you the efficiency benefits and one single version of the truth data that senior management require.

AccountsIQ, one of the best ERP alternatives for smaller businesses

If you find yourself asking if an ERP is the right solution for your organisation, take a look at an ERP alternative such as AccountsIQ.

AccountsIQ is a scalable cloud platform, used by 1,000s of companies worldwide, to revolutionise financial operations and support their growth aims. This system makes it easy to implement most of the benefits of an ERP into your business, but without the cost and complexity.

The software’s scalability, advanced features, integration options, and robust security address the evolving needs of businesses giving you ERP style functionality out of the box. With month end and AP automation, bank feeds, multicurrency, multi-entity and consolidated reporting features, it would take a long time to outgrow a system like AccountsIQ.

As well as AccountsIQ’s existing software integrations, its open API means companies can connect their own proprietary software and build their own custom integrations. As an AccountsIQ implementation partner, we can assist with this process.

You can get up and running much quicker with AccountsIQ than an ERP.

AccountsIQ can be implemented in as little as three weeks, which when compared to an average ERP implementation taking 6-18 months, means you can start realising the benefits very quickly.

Ready to explore an ERP alternative for your business?

Whether you're looking to streamline your operations, enhance customer experiences, or embark on a digital transformation journey, our ERP Consultants are here to help.

Get in touch to book a Free Consultation or see an overview of AccountsIQ in a webinar on 9th April 2024.