What is ERP? Business management tools that SMEs business owners must have

The system that helps SME entrepreneurs access business management software is cloud computing. But what is cloud computing, and how does it benefit SME businesses? Every business, regardless of size, needs an ERP system (Enterprise Resource Planning), a business management system that significantly streamlines operations. However, traditional ERP systems, which are installed on local computers, come with high costs, including maintenance and server management fees. These costs can make it impractical for small and medium-sized businesses (SMEs) to invest in such systems. Nowadays, there’s a new system that enables SMEs to access business management software: cloud computing. So, what is cloud computing, and how does it benefit SMEs? This article has the answers. What is Cloud Computing? Cloud computing provides various services such as applications, software, or resource management through remote server access via the internet. What are the Types of Cloud Computing? Public Cloud: Public cloud services are available over the internet and can be shared among multiple organizations. Private Cloud: A private cloud is dedicated to a single organization, allowing greater control, customization, and security, though it comes with higher costs, similar to on-premise systems that require installation on hardware. Hybrid Cloud: A combination of public and private clouds, enabling data and application sharing between the two environments. What are the Types of Cloud Services? Cloud services come in various forms, depending on business needs. Here are some popular types: Infrastructure as a Service (IaaS): IaaS offers organizations cloud infrastructure services, such as computing, storage, and networking, accessible via the internet and adjustable as needed. Platform as a Service (PaaS): PaaS provides a cloud platform that allows clients to develop and manage applications without needing to handle the infrastructure. Software as a Service (SaaS): SaaS is a cloud-based software platform that is accessed via the internet, maintained by service providers, and typically used on a subscription basis. What Are the Benefits of Cloud Computing for Businesses? Cloud computing benefits businesses of all sizes, particularly SMEs, by improving efficiency, speeding up processes, and reducing costs. The overall benefits of cloud computing include: 1. Cost Savings With cloud computing, there’s no need for hardware installation or maintenance costs. Businesses can use existing devices like laptops, phones, and tablets to access the cloud, significantly reducing overhead expenses. 2. Access Anywhere, Anytime With just a phone, business data can be accessed via the cloud, ensuring up-to-date information is available anywhere, anytime. 3. Flexibility and Scalability Cloud computing allows organizations to adjust resources as needed, supporting business growth. For example, inventory systems can expand as required. 4. Efficient Collaboration Since cloud systems are accessible from anywhere with an internet connection, teams can collaborate efficiently without needing to be in the office. 5. Comprehensive Security Cloud services offer data encryption and regular access monitoring, ensuring that not everyone can access sensitive organizational information. 6. Data Loss Prevention Many cloud services provide data recovery functions or backups to protect important business information from being lost, even with careful management. Treesoft.io offers cloud-based ERP software with over 10 applications for comprehensive business management, including POS systems, purchasing software, online accounting software, inventory management software, and HR software. Businesses can sign up for a free 14-day trial, making it ideal for SMEs of all sizes.

What tools are available besides paper notes or sheets to help manage income and expenses? In this article, we present 6 reasons why you should use an income and expense management program to help manage your finances. Financial management, especially for businesses or organizations, is essential, particularly when it comes to monthly income and expenses. Tracking, recording, and organizing these expenses each month can enhance profitability and provide a straightforward analysis of the business. This makes data accuracy crucial to prevent oversight and facilitate expense management. What tools are available beyond a simple sheet of paper or spreadsheet, including accounting software, to help organize our income and expenses? In this article, we present 6 reasons why you should use an income and expense management program to systematize your finances. What is an Income and Expense Management Program? An income and expense management program is a tool designed to simplify the recording of general income and expenses. It helps business owners track, approve, and manage payments and receipts monthly. Most importantly, it provides monthly expense reports, enabling clear and transparent analysis of a business's financials. Common Functions of an Income and Expense Management Program Record income transactions, such as sales revenue, rental income, salaries, etc. Record expense transactions, such as bills, utilities, travel expenses, salaries, etc. Create budgets, set financial goals, and establish limits for each expense category, including comparing actual spending with budgeted amounts. Generate reports and analyze data, such as profit and loss statements, balance sheets, and expense summaries. Additionally, the income and expense management program can integrate with other online programs such as the purchase management program and online accounting software as well. 6 Reasons to Use an Income and Expense Management Program Using an income and expense management program will improve financial management efficiency and significantly assist in business decision-making. The reasons for using an income and expense management program are as follows: 1. Enhances Data Accuracy Manually recording or updating financial data can lead to errors, causing inaccuracies. Using a management program helps minimize these errors and effectively categorizes expenses. 2. Saves Time With various functions like expense recording, payment approvals, and operational status tracking, the program significantly saves time in managing overall business and financial operations. 3. Helps Control Budget Expenses The program allows you to control budget expenses by reporting outgoing funds, enabling the analysis of which financial activities to reduce or eliminate, such as excessive electricity or travel costs. 4. Assists in Business Decision-Making Modern businesses are data-driven, and financial data like income and expenses enable strategic decision-making and long-term planning. 5. Easy Access These programs are often cloud-based, meaning they can be accessed from anywhere with an internet connection and device. Multiple users can also access the system at the same time. 6. Ensures Data Transparency Financial transparency is critical. An income and expense management program ensures your financial data is transparent and can be reviewed at any time. What Features Does Treesoft's Income and Expense Program Offer? Treesoft.io has developed an ERP system, including an income and expense management program, that is easy to use with various features, tailored for SMEs. You can sign up for free for a trial. The main features of Treesoft.io's income and expense management program include: Recording general expenses Approving payments Tracking operational status Restricting access to various documents Monthly expense reports Notifications when expenses are created for approval