Nigeria’s largest system integration company, CWG Plc, has adduced reasons it is targeting the Small and Medium Enterprise segment of the country’s economy with its cloud-based ERP solution tagged SMERP.
The company believes the successful development and sustainability of Small and Medium Enterprises is key as SMEs play a major role in most economies, particularly in developing countries like Nigeria, where they contribute to new jobs creation by 70 percent.
According to CWG, most formal jobs are generated by SMEs, which create 7 out of 10 jobs but are lacking the basic tools to function effectively and efficiently.
“We have seen that SMEs in Nigeria face enormous challenges such as innovating, supporting their business growth and keeping the lights on. This is why we have developed the SMERP solution to strategically address their challenges,” said the SMERP’s Product Manager, Omodolapo Orogbemi.
He disclosed that the CWG’s SMERP is a reliable, scalable and flexible solution which can be used to strategically achieve a competitive leading position in the SME sector for Nigeria.
SMERP is capitalizing on this opportunity to achieve success in enabling SMEs to improve the GDP of the Nigerian Economy.
Specifically, he said the SMERP solution will provide business outcomes such as smooth functioning of daily processes, enhancement of work efficiency, a substantial reduction in recurring cost and improved operational efficiency for SMEs.
Other value proposition of the solution are remote business monitoring, business intelligence & data analytics and improving the overall competitiveness in the world market through modern technologies.
SMERP supports the survival and standardization of the SME sector through different modules such as Invoicing, Accounting, Inventory, CRM, Point of Sale, Rewards and Loyalty Programs.
These benefits to business owners ensure business expansion and transforming one-time customers to regulars.
SMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses and more than 50% of employment worldwide. The World Bank Group estimated that formal SMEs contribute up to 40% of national income (GDP) in emerging economies.