There are more than 37.07 million SMEs in Nigeria. This number accounts for over 84% of the jobs in the country. When you consider this, you see several reasons why small businesses should invest in ERP software.
MSMEs are bound to enjoy so many benefits from ERP software. This is because these software help in the daily management of businesses to attain maximum productivity. We will show you the top 10 ERP software that small business owners in Nigeria can use.
What is ERP Software?
If this is your first time hearing about ERP software, then you must be wondering what they are. ERP stands for “Enterprise Resource Management.” It simply means a process that allows business owners to gather and organize business data using an integrated software suite.
As such, these software presents SMEs in Nigeria with business functions such as sales quoting, production, accounting, etc. If the definition above is a little too complicated, here’s a simpler one.
These software help to facilitate productivity by improving the way you handle your business resources. It brings together the operations of all the departments into a single software. While we can go on and on, let’s dive into the ERP you can adopt for your business.
Simple ERP Software for Small Businesses in Nigeria
This platform is cloud-based. The design ensures that as your business grows, the software scales commensurately. NetSuite is a product of Oracle and it gives you an array of modules and tools t handle business operations.
Some of the operations this software handles on your behalf include demand planning, accounting, invoicing and billing, and manufacturing operations. Other functions include revenue management, order management, financial management, and warehouse administration.
These are the benefits of NetSuite to SMEs in Nigeria:
a. Makes business finance easy to manage because of efficient automation.
b. Real-time insights that give a clear picture of the business.
c. Helps in growing channels, markets, and new products.
Looking for an all-inclusive business management tool for SMEs, Scoro fits into this description. It works best for businesses engaged in project management, sales, and service delivery.
This ERP software guarantees faster, more efficient work which implies more productivity for your business. Scoro helps you to automate invoicing and billing, manage projects, monitor KPIs, and view financial reports. This software is quite affordable which is why it is great for SMEs in Nigeria.
Benefits of Scoro include:
a. More efficient time management and allocation of business resources.
b. Tracking and management of projects.
c. Sales funnel management.
This ERP software focuses on inventory management. Small businesses can take advantage of this to optimize order management as well. It has a multichannel inventory management functionality which makes it possible for your business to sell using different currencies.
A single-click reorder feature helps you replenish your stock. As a result, you can fix the maximum and minimum purchase limits for different items. You can also assess product performance and generate reports.
Benefits of Brahmin Solutions include:
a. Easy to implement and use.
b. Starter plan comes at a fixed price.
c. Easy to customize.
This ERP comes with a plethora of tools that make business management very easy for SMEs in Nigeria. Some of the functions you enjoy with Odoo include HRM, operations, sales, finance, marketing, and communications management.
You can use this software to boost productivity, manage projects, and also build a website. One advantage that stands out is the customizability of this software. Check out some of the benefits of Odoo below:
a. You only pay for the apps you use.
b. No hidden charges.
c. Full integration of apps.
Business Cloud Essentials
This robust ERP software presents you with an array of modules. Some of these include payroll, operations, CRM, and accounting. This software is perfect for SMEs in Nigeria because of the number of features available.
Businesses that can use this software include manufacturing teams, accounting firms, HRM firms, etc. This software helps you gain a better understanding of your customers and business prospects.
Benefits of Business Cloud Essentials for small businesses include:
a. Makes financial management easy.
b. Great for monitoring manufacturing processes.
c. Helps to understand customers better.
This is one of the ERP software from Sage and it aims at helping SMEs handle business and accounting management. It helps to solve accounting and financial requirements easily.
The platform is flexible with several advanced functionalities. With these, you can manage finances, increase productivity, and automate complex processes. All of these make you make better business decisions.
Benefits of Sage Intacct include:
a. Configurable preferences, workflows, screens, and settings without coding.
b. Real-time operational metrics.
Syspro is a robust software that helps to handle distribution and manufacturing businesses. The system allows you to synchronize, control, and integrate operational processes.
It also comes with fraud detection, multi-currencies, data analysis, reporting, and mobile ERP. Syspro also lets you automate processes and communicate online.
Benefits of Syspro to SMEs in Nigeria include:
a. AI-powered platform that helps for quick analysis.
b. Great for distribution and manufacturing businesses.
Sage Business Cloud Enterprises Management
This is another product from Sage that helps in business management. The outstanding benefit of Sage Business Cloud Enterprises Management is that it is very affordable.
The modular software gives you access to several features like financial management, logistics and warehousing, and customer service. It also provides you the opportunity to manage sales, e-commerce, and procurement.
Benefits of this ERP software for SMEs include:
a. End-to-end business control.
b. Very affordable.
Oracle ERP Cloud
This software is an online solution that is great for companies of different sizes. It is designed for simplicity and scalability.
Oracle ERP Cloud helps you manage procurement, financials, reporting, governance, compliance, and project planning. It is great for businesses in marketing, telecommunication, engineering, and pharmaceuticals.
a. Affordable and flexible pricing.
b. Unifies data and connect teams.
This ERP software has a range of features and tools to help SMEs in Nigeria with finance and accounting. It is also great for customer relations, project management, inventory, manufacturing execution, and human capital.
You can also manage your supply chain and materials planning. It employs several new technologies like mobility, business analytics, big data, and the Internet of Things.
Benefits of Epicor ERP include:
a. Reduces business dependence on IT.
b. No upfront cost.
ERP software are highly beneficial for SMEs in Nigeria. We have given you a list of the top 10 ERP software you can adopt for your business. Do you have any questions? Ask them in the comments section.