Data Management System for SME

Thousands of companies depend on the accurate recording, updating and tracking of their data on a minute-to-minute basis. SMEs use this data to complete accounting reports, calculate sales estimates and invoice customers. In some cases the vendors or workers access this data through a computerized database. In fact there are many proven methods to manage the various data elements. But before that you must have in front of you the set of challenges are you facing. 

Below are the questions a small business should consider asking before trying to solve the data management stumper.

·         What are you trying to accomplish?

·         Who is it for?

·         What do they need?

·         What do you need from them?

 Once you are clear about the above question you have two options to manage it:

      A.    Online Software

There are many softwares available online for small businesses designed to help them to run their operations better, cut costs and replace paper processes. The most popular software packages include accounts, office productivity, email and communications, but nowadays, most business activities can be improved through desktop or web-based applications.

But if you are not a tech-savvy person or if you do not have a trained staff to manage it, no worries, just go for the second option. 

     B.     Outsource it BPO

If internal data management isn’t economical, outsourcing it is an attractive alternative. You will benefit from technology-driven and professional DBMS services at a cost-effective price. We at Corient have helped many SMEs grow by the proper management and processing of raw data into useful information becomes a critical matter. Outsourcing your data management helps you grow faster, as it free-up your time to focus on core business. It also saves lots of time.

At the end, I would like to add one thing, just weigh all the pros and cons before going ahead with any of the above mentioned options.      

Author: Sachin Lohade is a Chartered Accountant and works with Accounting Firms to improve practice and reduce costs. He can be reached out at sachin@corientbs.com or you can visit www.corientbs.co.uk