In the last decade or so, enterprises have realized the importance of robust and proactive spend management protocols. No matter what is the size, scope, and niche of your enterprise, you will need to control the collective spending of your organization to improve margins and boost bottom lines. Understanding the importance of a strong grip on expenses has resulted in the development of spend management software programs. A majority of large and medium-sized enterprises now use spend management systems to streamline their outlays.
On the other hand, most small enterprises are still stuck with spreadsheets and manual tracking and monitoring for spend management. There are two major reasons why small enterprises don’t deploy a spend management application in their operations.
- Over-Sufficiency: They consider that their operations are not large enough for spend management software. In other words, they think that they won’t be able to use the application for its full capacity and features.
- Cost: Many small enterprises like to incorporate digital spend management solutions in their operations. However, the heavy upfront and recurrent costs force them to keep up with their existing setup.
Both these concerns are legitimate in many cases. Nonetheless, small enterprises can find software solutions in line with their requirements that don’t cost them an arm and a leg. We’ll discuss one such software in a bit.
Why Your Small Business Needs Spend Management Software?
Before we provide you a simple spend and procurement management solution for your small business, we would like to outline all the reasons why you need it in the first place.
For Gathering All Spend Data in One Place
Spend data is generated in chunks. The sales team procures its items separately. Then, HR and the production team have their own invoicing. It is impossible to track and control all this scattered data. By deploying relevant software, you can streamline all these spend details in one place.
This centralization of data makes it easy for you to get a bird’s eye view of all the spend details. Moreover, the coordination and communication among internal teams improve when they use a single platform for their spending/procurement activity.
For Getting Real-Time Spend Visibility
It’s hard to keep tabs on spend activity in a conventional setting without a spend management application. You can’t find out about all the dispatched POs and incoming invoices in real-time. A spend management software can enable you to track all this stream of expense information as it happens. When you have real-time spend visibility, you’re in more control of managing and controlling it.
For Identifying and Controlling Spend Leakage
Many small enterprises don’t have well-defined supplier management protocols. This is why many of its team members often procure items from unlisted vendors. This is known as spend leakage, and contemporary corporate values discourage it because it lacks transparency. When you move all your spend activities to a software platform, it will become almost impossible for employers to work with any unauthorized/unlisted supplier.
For Making Better Business Decisions
When you start managing your expense affairs through software, you generate loads of meaningful data over a period of time. All this data help you run valuable analytics that shapes your decisions and make them more informed and insightful.
SimplyPurchasing: A Perfect Spend and Procurement Management Software for Small Enterprises
As mentioned earlier, many small enterprises don’t consider the deployment of SM applications due to their over-efficiency and cost. If you also don’t consider software integration for either of these reasons, Microsys’ SimplyPurchasing is a custom-made option for you.
SimplyPurchasing is primarily procurement management software. However, small enterprises can also use it as a combo of purchase and spend management solution. The software has all the features that small enterprises look for in a digital business solution.
It Is Cost-Effective
SimplyPurchasing is not like other third-party SM software that needs dedicated budgetary outlays. This subscription-based spend management system is very reasonable for even budding businesses working on a shoestring. Even if your enterprise doesn’t have a dedicated spend management budget, you can still afford the deployment of SimplyPurchasing.
It Only Has Features You Want
SimplyPurchasing is no-frill spend management software, free of jargon-laden complex features. It offers you category, vendor, invoice, PO management, which are essential elements of regular spend management activity.
Setting It Up Is Easy
You don’ need to make drastic hardware and software changes to integrate SimplyPurchasing in your operations. It is essentially a web application that you can use from the existing desktops and laptops at your workplace. Moreover, its access works like social media logins, which means authorized team members can easily access and use it when needed.
Microsys: Making It Easy for Small Enterprises to Leverage Procurement and Spend Management Technologies
Microsys hasn’t just developed SimplyPurchasing and put it in the market for sale. The IT solution firm also walks its clients through every step of the deployment of its software solutions. This holistic support of Microsys comes in handy for all the small enterprises embracing digital business solutions for the first time.
There are various areas from where Microsys helps small enterprises to make the most of SimplyPurchasing.
Microsys ensures that you can fully integrate SimplyPurchasing in your unique business environment without facing any issues. They will help you export all your procurement and spend activity to the software.
SimplyPurchasing is one of the easiest to use spend management system on the block. Nonetheless, Microsys makes sure that your team has complete knowledge of all its features. This expert training ensures that your team doesn’t waste any time in understanding the software by trial and error iterations.
Continuous Technical Support
Even after the successful deployment and training, Microsys remains in the loop with its clients. If you hit a snag while using SimplyPurchasing, you can drop a line to Microsys. Its technical support team will resolve your issue at a quick turnaround.
Microsys is a prominent IT company specialized in delivering top-notch Managed IT Services, Business Continuity, and Alignment solutions, Network services, Sage CRM, and Sage ERP solutions. Our 360 degree IT services and solutions are aimed at enhancing the operational efficiency of your organization and bringing down costs.
2 thoughts on “Prospects of a Small Enterprise Using Spend Management Software”
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