What is ‘scalability’ and why is it important to your business?
There’s a raft of definitions out there for what scalability in a business actually is, but they all boil down to the same thing: being able to cope with growth.
It’s a goal we all aspire to in business, and we rub our hands with glee at the prospect of growing quickly, but there’s a dark side many business owners forget in their excitement. Whether you’re growing at a steady pace, or at speed, you need to know your systems and your team can cope with the demands that growth will put on them. Most importantly, you need to know you can cope with managing it all. And all without compromising the quality and standards you’ve worked hard to establish, and that your clients expect.
Connecting your business with ERP software
In your earlier days of operations, you were the common, connecting factor in all the different aspects of your business – customer relations, sales and fulfilment, invoicing, product development – either as the only one doing all these things, or as the Go To person for your close-knit team. But as your business has grown, you’ve lost some of those deeper connections, and your staff have had to rely on different, and often disconnected, systems.
An ERP solution like MYOB Exo or MYOB Advanced brings these systems together into an integrated whole. Using an ERP solution boosts your team’s productivity (with fewer systems to maintain, data only needs to be entered once for it to be updated everywhere) and accuracy (less data entry means fewer errors, and less time spent verifying).
All this translates into a more streamlined operation that has capacity for growth already built in. Without the expense of having to hire and train additional staff, and other costs that can take big bites out of your profit, you’ll have a healthier bottom line, and be in a better position to cope with any future expansion.
MYOB Advanced is a cloud-based ERP system, which is a boon for businesses with remote or highly mobile staff. No matter where your team is, you can rest assured they are all working off the same play sheet, while taking care of your customers.
MYOB Exo is an on-premise solution – meaning you maintain the software and data on your business’s own network. MYOB Exo can be customised to suit your unique needs and we’ve developed a range of apps to extend the functionality for many types of industries.
More than an accounting platform; MYOB Exo gives you the flexibility to scale for the future. Using application program interface (API) extensions, MYOB Exo can integrate seamlessly with your other business management systems like HR/payroll, CRM and POS. Together, these can give you a complete view of your business that will help you stay on top of managing your business as you scale up.
MYOB Exo is a Tire 3 system which is popular with businesses who have outgrown their basic accounting system, may have 10 or more employees, and turn over in excess of $5 million per annum.
MYOB Advanced is a true software-as-a-service (SaaS) solution, where you select a service level that suits you and then pay a regular licence fee for. The SaaS model means less of the cost and hassle that can come with managing your own IT assets, and comes with enterprise-grade security and data backup.
Like MYOB Exo, Advanced gives you connectivity across your business, and lets you take in a complete view of its operating position managed across a single system. Its industry-leading API technology simplifies connections with third party solutions and add-ons.
As a fully cloud-based solution, MYOB Advanced gives you and your team anytime, anywhere access to your systems – ideal for adapting to changing work environments like remote and mobile teams.
MYOB Advanced is popular with Tier 3 and Tier 2 businesses of all types, who require infinite flexibility and scalability.
Which solution when?
ExoBiz is the ideal partner to help you identify the right solution for your immediate needs, and your future goals. Every day we work with businesses of all kinds, helping them analyse their operational systems and determine the best next step for them in their journey to manage, systemise and scale.
If you’re growing, but still trying to grow the right way, an ERP solution may be the answer. Give our expert team a call today to see how we may be able to help you make that next quantum leap in your business.