Have you outgrown accounting software?

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.

5 Signs your accounting software is holding you back

There is a better way, and it’s affordable for SMEs

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

Get help to simplify how you run your business with an ERP solution.

Noticed these ‘growing pains’ in your business?

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Information is siloed within teams and multiple, disparate systems in use

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Manual workarounds and spreadsheets are required to get the outputs you need

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Decision-making is delayed because you can’t access information fast enough

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You can’t identify trends or confidently forecast demand and set budgets

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End-of-month and ad hoc reporting is time-consuming and not always reliable

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You don’t have a clear view of which activities, products and customers drive profits

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You’d like to expand or diversify but setting up new systems feels too hard

End-to-end software with accounting built-in

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 small, get big faster

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:

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Better understand and control profits, costs and cash flow

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Automate and improve many accounting procedures

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Easily generate real-time reporting you can depend on

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Improve customer service through on time in full delivery

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Automate purchase planning

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Manage finances across multiple entities and countries

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Segment finance data to analyse divisions/teams/locations

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Integrate CRM, purchasing, inventory and manufacturing

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Improve workflow and communication across the business

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Streamline your BAS, tax management and banking

Build a platform for further growth

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:

Expense management

Accounts payable automation

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Approvals

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

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Purchase planning and workflow

Automated debt recovery and debtors management

Customer relationship management

Field sales and remote order taking

Yes, modern enterprise solutions are made for SMEs!

Innovative ERP software from leading vendors like MYOB, SAP and Sage are:

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Flexible enough for SMEs in diverse industries and markets

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Affordable, fast to implement and deliver a quick time to value

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Configured to match your processes, workflows and reporting

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Customisable by role, mobile-friendly and easy-to-use

Learn more about world-class ERP solutions we support.
 

Compare the benefits of an ERP solution over standard accounting software:

1. Improve cash flow
  • Streamline the quote to cash cycle
  • Get visibility to manage suppliers and invoices
  • Speed up approval processes for AP invoices
  • Understand real costs to set better margins
  • Purchase smarter to avoid overstocking
  • Avoid bad debts and improve debt collection
3. Improve team productivity
  • Automate and improve key processes to save effort
  • Give all employees better data relevant to their role
  • Avoid manual workarounds or time spent merging data
  • Improve collaboration and cross-functional workflows
  • Eliminate overtime or the last-minute deadline rush
  • Give your team true mobility for remote and telework
5. Adapt and grow more readily
  • Embed greater accountability, visibility and flexibility
  • Set workflows, processes & approvals for structured growth
  • Access scalable architecture and cloud computing
  • Create a foundation to embrace AI, IoT, & big data analytics
2. Enhance customer service
  • Consolidate customer info in one database
  • See order status to improve customer communication
  • Improve processes to deliver on time, in full
  • Balance stock levels to avoid outages and delays
  • Streamline pick and pack, and delivery processes
4. Boost strategic decision-making
  • Give managers real-time access to high-level insights
  • Make all reporting mobile, easy to generate and share
  • Analyse data from multiple sources for a clearer view
  • Segment data about customers, products and divisions

Is your small business ready for an ERP solution?

If you answer ‘yes’ to the following three questions, you’re ready for an enterprise system

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Do the business benefits justify the investment?

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.

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Do you have the budget to implement and support an ERP solution?

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.

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Do you have the internal resources to implement an ERP?

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.

The right partner makes an ERP Solution more affordable

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.