In the UK a Small and Medium-Sized Enterprise or SME is defined by having fewer than 250 employees and either an annual turnover of less than or equal to £44 Million, or a total balance sheet of less than or equal to £38 Million.
Because of this definition, it accounted for 99.9% of the UK business population at the start of 2024, 99.2% being small businesses with fewer than 50 employees. Because of this, although their is the idea that an ERP system is often exclusive to large companies, this isn't the case. An ERP like Odoo can be the solution for any business, providing integrated tools to help manage all their areas of operations.
Using an ERP has numerous advantages for any business. The centralisation of information can help to save time and resources in the day-to-day processes, and it allows employees to prioritise other aspects, benefiting the companies in all areas.
Having all the business information on a single platform also ensures that there is no duplication of data, and can help with better customer tracking, stock control and so on.
More and more with the wave of entrepreneurship small companies are popping up, and although it might not be necessary to start with an integrated management process, having the ease of use and comfort of the scalability that an ERP such as Odoo provides is essential to ensure long-term success.
Additionally, a benefit to Odoo is it's modular management system that makes it perfect for both the smaller companies who may only need to manage a few basic systems, or those more established companies with different departments and roles making Odoo an ideal management software for all types of companies, regardless of the number of employees and turnover.