When you started your business, you had visions of growth and success that would stand the tests of time. You were going to bring your talents, skills and products to a market that desperately needed them. But the odds are good that you had no similar visions for how things would operate “behind the scenes”. Finance, HR and staffing, customer service – you’d figure that out when you needed to. Using MYOB out of the box, and supplementing it with MS Excel and Access may have worked great in your early days, but you’ve grown a lot since then. So much in fact that your systems and your staff are struggling to keep up, and it’s your customers – and your reputation – that are feeling the effects. There are two paths open to you now: Adapt, or Perish.
- If you choose to adapt, then you need to find a solution that will give your business the operational framework it needs to survive and thrive now, and into the future.
- And if you don’t adapt… Well, that doesn’t bear thinking about.
But where do you start? How do you know what system is going to work? And how do you transition your business through the change?
Is an ERP solution the answer?
There are a few red flags that will let you know your current systems are beyond their working life and that it’s time to consider an ERP solution, like MYOB Exo Business or MYOB Advanced Business. Flags you need to pay attention to:
- Your finance team is always being asked for more up-to-date figures. Without the latest information, you can’t make fast, effective decisions, or respond to clients in a reasonable amount of time.
- Your field staff can’t easily access the information they need when they need it. Mobility and accessibility is critical in today’s work environments – particularly if you’ve got staff in the warehouse, in the field or on the road.
- Your current systems don’t talk to one another. You store different information in different places, and consolidating it (for reports and business intelligence) is a slow process with a high risk for errors and inaccuracies.
- Your capacity for growth is stunted. Slow processes, heavy overheads, and inaccurate business information can take up valuable time, not to mention add to staff (and customer) stress levels.
Exo and Advanced are MYOB’s mid-range enterprise resource planning solutions. They are designed for growing businesses that need an all-in-one system for their back-end operations and business management. They address these red flags, and others, and can be configured and customised to suit your exact business operations and future requirements.
Costs versus benefits
There are a lot of different factors that go into your continuing success, but having the right system in place plays a big part that can’t be undervalued. Shifting to a mid-level ERP solution like MYOB Exo or MYOB Advanced will help boost staff productivity and satisfaction, allow you to be more responsive to your clients’ needs, and give you more flexibility to adapt as you grow. In terms of return on investment, there are some immediately apparent outcomes you can expect from moving to an ERP.
- Direct benefits – save money, reduce costs (e.g. less overtime, expediting, inventory control), increase productivity and throughput (less re-work), reduce waste, improved visibility across the business, scaleability.
- Indirect benefits – better work satisfaction and staff retention, increased market agility from improved business insights, less down time and workplace stress caused by unpredictable scheduling or out of date information.
- Boost revenue and profit – improved customer service (e.g. better quality information and response times, more on-time deliveries, shorter lead times), improved sales and margins from faster time-to-market and reduced development costs.
There are other benefits you’ll realise over time that may be more difficult to measure – like your approach to new opportunities, and your capacity to evolve your business vision – that will continue to pay dividends long after the real costs of implementation have been returned.
Take the next step and get some help
If you’re starting to experience any of these red flags, it’s time to contact us for a FREE ASSESSMENT of your current systems. We’ll provide advice on what may need to change to streamline data capture and reporting and prepare your business for growth.
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