SMEs to Receive Grants for Enterprise Resource Planning (ERP) Systems Implementations
The recent Malaysian government’s annual budget announcement emphasizes the importance placed in the small and medium enterprises (“SMEs”) sector. As part of the Malaysian government’s National Budget 2020, there are incentives for companies that invest in the automation and digitalisation of their businesses. Specifically, the Malaysian government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing companies and 1,000 service companies in order to automate their business processes.
Along with this, the first 100,000 SMEs that apply, will receive a 50 percent matching grant of up to RM5,000 as an incentive for subscribing to digital services for business operations. Digital services include things like electronic Point of Sale systems (“e-POS”), Enterprise Resources Planning (“ERP”) and electronic payroll systems. To read more about the incentives in National Budget 2020, click here.
The government is providing substantial incentives and assistance to improve SME business efficiencies that will enable them to maintain a competitive edge within and outside of Malaysia. Because of this, SMEs should seriously consider incorporating ERP systems into their business operations.
A Basic Explanation of ERP Systems
If you haven’t yet heard of ERP systems, they are crucial for managing business functions efficiently. In essence, an ERP is a centralized and integrated system that provides controls to manage business operations in an integrated way. All data is stored in a single system, meaning that problems can be easily identified and informed decisions can be quickly made.
Staff, customers, and inventory can be managed on a single system, which provides you with a 360 degree view into your organization’s operations. Along with this, the most tedious tasks are automated with ERPs. In the end, an ERP system in a business means more productivity, improved collaboration, and happier customers.
SMURPS ERP
SMURPS is for businesses of all sizes. Its hassle-free, tailor-made solutions let you gain real-time insights into your business. To better understand how SMURPS can help your business, check out some of SMURPS’ features below.
Finance and Accounting
SMURPS helps you gain better insights into your expenses so that you can identify opportunities to reduce costs and generate more net income. It does this by helping you better manage your accounts receivable and accounts payable, monitor your taxes, and manage your assets. It can also help you handle currency issues if you sell goods outside your country.
Sales and Delivery
As your business grows, it is impossible to manually monitor sales and delivery. With SMURPS’ sales and delivery, you can easily track and organize your sales information. It enhances interdepartmental collaboration and makes your business more responsive to customers needs. Manage and monitor quotations, customer orders, and all the way to fulfilment.
Procurement Management
SMURPS’ procurement management lets you optimize your procurement and supply process with automatic reorder function and approval workflows. You can ensure standardized buying and manage the risks of spending and sourcing from different suppliers and countries across the globe.
Inventory Management
With Inventory Management, you can track stock movement in real-time across all your storage locations. It helps you ensure that you have sufficient inventory to meet your customers’ demands in all locations and at all times. There are no inventory shortfalls here.
Warehouse Management
Advanced picking and put-away strategies with SMURPS’ ERP system help coordinate and run your warehouse operations effectively. You can integrate handheld terminals with barcode and QR code scanning features, allowing you to build a scalable warehouse and fast moving warehouse.
Production Management
SMURPS ERP helps you manage your manufacturing processes with customized production scheduling tools, production planning strategies, work order management, multilevel bill-of-materials for your finished goods, and material and operations costing. This enables you to effectively manage your manufacturing operations that results in optimizing your operating expenses.
The Power of SMURPS
By leveraging all of the features above, SMURPS’ ERP system far outweighs the initial cost, time and effort involved in implementing the system.
So what are you waiting for? We encourage you to capitalise on the opportunity provided by the Malaysian government. Check out SMURPS ERP today and allow us assist you with all your business needs.
