Budget ERP solution for SMEs

Small and medium enterprises (SMEs) in India can now avail the benefits of a software package that offers complete accounting, payroll and HR solutions, at the click of a mouse.

Vedika Software Pvt Ltd, the company which developed the FACT accounting software and a software package comprising PERKS Office and FACT, is in the process of rolling out FACT 'cockpit' software, aimed at the growing SMEs.

Among many advanced features, the cockpit software gives a single-screen control to the top management of any company, in real time.

"We are targeting the SMEs, smaller manufacturers, and the small units of bigger companies for the FACT and PERKS office package. This is because, as the pace of business grows, most SMEs are doing away with the tedious method of getting jobs done manually, and are shifting to use the support of custom and tailor-made software for ease in businesses," claimed Arvind Agarwalla, CEO of Vedika Software.

The software is available for Rs 1 lakh for a single user, and Rs 4.5 lakh for 15-user licence.

It would also entail a yearly maintenance cost of Rs 30,000.

"All other ERP solutions are priced above Rs 10 lakh, and could prove expensive for SMEs. We have therefore come up with a complete accounting software which also has payroll and HR solutions built into it, to enable easy transaction for SMEs at a cheaper price," explained Agarwalla.

The software would integrate all functions of a company, including sales order entry, purchasing, inventory and lot tracking, production, accounting and financials, in one software system.

By linking all company departments together in a single database, companies could have the ability to perform data drill-downs, conduct real-time transactional posting, maintain software updates, and simplify training with a consistent user interface. Currently Vedika has 100,000 users.

"We do at least 200 enhancements to our FACT software to keep abreast with changes at prices fit for SMEs," said Agarwalla.

According to market estimates, the Indian SME segment can offer huge returns to IT companies. The sheer number of SMEs, around 8 million, make this sector a good bet for IT firms.

According to a recent study by Access Markets International (AMI) Partners, this emerging sector is set to spend over $8 billion on its IT infrastructure this fiscal. This would be a 24 per cent rise over the previous year's spendings.