Small business success in Australia increasingly depends on effective online systems—especially if you want more freedom and less time spent managing finances, tax, inventory, purchasing, production and reporting.
Free or standalone accounting software may not be the best solution. If you’re growing quickly, basic accounting software can be limiting.
You may find you keep buying more applications or creating additional spreadsheets to get the right level of oversight, detail, and accuracy. It gets messy, fast.
Many SMEs find that efficiency, clarity, and scale is only possible with integrated, enterprise systems.
Unlike accounting software, an enterprise solution:
Gives you business-wide visibility of what’s happening and why
Connects the dots between strategy and outcomes/profits
Fully captures and combines data from all business activities
Gives you nuanced analytical and predictive capabilities
Information is siloed within teams and multiple, disparate systems in use
Manual workarounds and spreadsheets are required to get the outputs you need
Decision-making is delayed because you can’t access information fast enough
You can’t identify trends or confidently forecast demand and set budgets
End-of-month and ad hoc reporting is time-consuming and not always reliable
You don’t have a clear view of which activities, products and customers drive profits
You’d like to expand or diversify but setting up new systems feels too hard
Investing in integrated systems that include accounting tools is a long-term strategy—it creates a foundation for ongoing digital transformation and business growth.
ERP solutions can help you improve the way you manage all key business functions: including sales, marketing, inventory, purchasing, financial management, production, payroll, service, and business intelligence.
However, today’s ERP systems are modular and you can tailor and extend the system to meet your precise requirements.
Start with a focus on finance and then introduce more modules or integrate other features as needed, all within one platform. Deploy in the cloud for even greater agility and the ability to effortlessly scale your number of users and locations.
A “phased” implementation of an ERP system lets you:
Better understand and control profits, costs and cash flow
Automate and improve many accounting procedures
Easily generate real-time reporting you can depend on
Improve customer service through on time in full delivery
Automate purchase planning
Manage finances across multiple entities and countries
Segment finance data to analyse divisions/teams/locations
Integrate CRM, purchasing, inventory and manufacturing
Improve workflow and communication across the business
Streamline your BAS, tax management and banking
A good ERP system with robust core functionality provides a baseline for further growth – a “foundation layer”. You can add to the solution as your requirements become more complex.
Common ways we’ve helped SMEs extend their ERP system functionality:
Accounts payable automation
E-commerce website integration
Electronic Data Interchange (EDI)
Advanced reporting and BI dashboards
A wireless warehouse with barcode scanning
Inventory management and logistics
Manufacturing and production planning
Field services management
Purchase planning and workflow
Automated debt recovery and debtors management
Customer relationship management
Field sales and remote order taking
Innovative ERP software from leading vendors like MYOB, SAP and Sage are:
Flexible enough for SMEs in diverse industries and markets
Affordable, fast to implement and deliver a quick time to value
Configured to match your processes, workflows and reporting
Customisable by role, mobile-friendly and easy-to-use
If you answer ‘yes’ to the following three questions, you’re ready for an enterprise system
Step back and consider the purpose of your business systems and your growth plans. Is accounting software robust enough to give you a competitive advantage? Or is a single point of truth the key to unlocking cost savings, productivity gains, and improved customer experience? If there’s clear potential for positive ROI, an enterprise system is a wise choice.
Cloud-based ERP solutions allow you to use operating expenditure to pay monthly, reducing capital costs through a subscription-based SaaS model. However, you need to budget for implementation and on-going support.
Your ERP implementation partner will lead the way—but the time, ideas, and personnel you contribute are important factors in whether your implementation is a success. Your team will need to be actively involved in scoping, data conversion, testing, and training.
Once you’ve decided, choose your implementation partner carefully. Cost blowouts occur when implementation projects are poorly managed. Look for an ERP software provider that takes time to understand your business and has effective and proven implementation processes.
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