DO I NEED AN ERP SYSTEM?
A guide for growing businesses (Part 2)
If you’re a growing business, you’ve reached the right place. In the second part of this two-part series, we look at four more ways in which ERP software can help you increase productivity, improve customer satisfaction and reduce expensive errors.
If you missed the first part of our guide, Click Here>
Closing gaps and driving growth
In the second part of this guide series, we will be looking at the following four reasons you should be taking into account when deciding if an ERP system is right for your business.
Minimise IT Spend
Say Goodbye to Errors
Improve customer satisfaction and retention
The faster you grow, the harder you must work to keep customers happy. Companies that cannot consistently meet customer expectations lose business. A lack of connected, customer-centric support applications and strong customer communications lead to unhappy customers, high retention costs, and fewer referrals.
Organisations that use different systems to manage back- and front-office operations struggle to stay on top of orders. The disconnected applications prevent employees from immediately viewing the customer history and current status. In addition, employees struggle with manual tasks that lengthen response time.
An ERP solution with embedded customer management capabilities helps employees efficiently support customers. MYOB Advanced presents users with a complete customer history at every interaction. Users can see order history, billing details, payments, communication history, and notes alongside inventory information, distribution, and production status. They can instantly identify and address issues before they cause delays.
Gain a holistic suite with unparalleled breadth across an extensive accounting, sales, project, case, and customer management application suite.
Optimise opertaions and business processes
Most young organisations adopt new technology—one application at a time—to address specific issues, which appears cost-effective.
However, the approach proves counterproductive, obstructing collaboration between teams and visibility into related operations. As a result, workers build tribal knowledge and manual workarounds to troubleshoot problems. Meanwhile, employees cannot easily find data across disconnected systems or identify the cause behind process bottlenecks.
ERP solutions eliminate productivity drains by automating manual tasks, integrating related workflows, and providing end-to-end visibility across the business. For example, MYOB Advanced connects disparate hardware and systems across the company and aggregates real-time data into the centralized database, providing all users with instant access to one version of organisational truth. The business management software optimises recurring processes, using artificial intelligence with machine learning to populate forms and eliminate manual data entry.
Users can point and click their way to personalized dashboards and KPIs that keep them focused on priorities and their tasks moving along. In addition, Acumatica delivers a full suite of productivity enhancers, including native applications for document management, customer relationship management (CRM), email integration, approval process workflows, time management, tasks, and appointments.
Organisations can streamline accounting transactions with automation for general ledger, budgets, accounts receivable, accounts payable, and cash management activities. They can drive efficiency with automated bank feeds and AI-powered expense creation and receipt recognition.
Robust native functions reduce dependency on third-party applications and increase transparency into critical functions, such as sales, marketing, and sales commission calculations, as well as fixed assets and payroll.
MYOB Advanced’s on-the-go mobility enables employees to complete tasks, submit approvals, and collaborate with colleagues from any browser and mobile device, anywhere at any time. They can enter time, capture expense receipts, access accounts, sales opportunities, support requests, and more.
Stop spending money on temporary IT fixes
Companies that do not change with the times become obsolete. However, implementing new applications to take advantage of the latest innovations proves expensive and ineffective. The isolated applications cannot efficiently share information, forcing users to navigate multiple systems and adopt off-line workarounds. As a result, they make billing mistakes, fail to resolve support requests promptly and miss lucrative sales opportunities. Companies must decide whether to plug inefficiencies one at a time or implement a comprehensive ERP suite that streamlines multiple processes and flexes to add new ones as needed.
MYOB Advanced combines financial management with project accounting, payroll, billing, inventory management, and more on a modern cloud platform. In addition, it manages connections to laser printers, barcode label printers, credit card terminals, cash registers, point-of-sale systems, eCommerce platforms, and other networked systems. Companies can easily extend the ERP solution to encompass emerging technologies to support their changing needs. The open architecture and low-code/no-code tools enable organisations to connect new hardware and software with little or no programming. They reduce costs for upgrades, backups, and database administration with a native cloud business application.
MYOB Advanced is a future-proof ERP solution that empowers companies with the ability to integrate new hardware, software, and divisions into their ERP without disrupting core operations.
Prevent expensive mistakes
As a company grows, so does the amount of data it generates and the tasks it must complete. Standalone applications provide little help, causing employees to juggle multiple data sources and conflicting information. Mistakes increase and often remain undetected because employees cannot view real-time workflow activity or access accurate data. Instead, they waste time searching multiple systems or making decisions based on assumptions.
For example, they cannot adequately resolve a customer complaint with incomplete customer history, which jeopardises repeat business. In addition, organisations without an ERP system rely on error-prone manual processes that cause costly delays and mistakes. Tasks like generating reports, tracking inventory, and filling orders take hours instead of minutes to complete.
An ERP solution eliminates these issues by integrating workflows, automating processes, and centralizing all data. Users receive real-time access to the latest information and historical data. MYOB Advanced’s end-to-end transparency and robust reporting capabilities enable users to immediately identify errors and performance trends.
For example, managers can see supply chain delays at-a-glance and drill down to analyze underlying causes. They have the tools to reallocate resources and address customer, employee, and partner concerns before they compound.
MYOB Advanced presents 360-degree views of the operation so businesses can spot inefficiencies and make informed decisions.
The ideal solution for growing businesses
Technology empowers or impedes growth. Organisations that fail to leverage modern ERP technology will lose business to competitors, who are better equipped to fulfil customer demands.
For example, they will struggle to fulfil SLAs if they continue to use different systems to manage back- and front-office operations. The disconnected processes prevent employees from viewing customer history, available inventory, and order status immediately. In addition, workers resort to manual tasks that increase errors and lengthen response times.
MYOB Advanced delivers a scalable, secure, and cloud-based ERP solution that optimizes end-to-end processes and sets the organisation up for future success. Users can access the future-proof platform on any device, anytime, and anywhere.
MYOB Advanced deploys automation and artificial intelligence infused with machine learning to streamline operations, eliminate error-prone processes, and promote innovation. Integrated workflows expedite approvals while personalised dashboards and automated alerts push critical data and activities to users. Customers can get answers to questions fast, make payments, and submit support requests anytime online.
Organisations receive centralised access to real-time and historical data as well as 360-degree views of the customer, financial, and operational data that empower transparency. With MYOB Advanced, organisations can access their business system and data anytime, anywhere, on any device.
MYOB Advanced supports cost-effective growth. Companies can add unlimited users without additional fees thanks to consumption-based licensing. In addition, they minimise infrastructure costs with all-inclusive hosting, operating system, database, and administration.
The business management software empowers growth by enabling organizations to pivot and support new sales channels, markets, and geographies with multicurrency, multilanguage, and international accounting and localisation.
Integrate third-party systems into the platform with minimal programming with Acumatica’s Open APIs, and low-code/no-code tools. Leverage native integrations for manufacturing, construction, distribution, and retail commerce as well as add plug-and-play, certified applications from an extensive third-party marketplace.
We have trust in the MYOB brand and as it turned out their Advanced solution really did have everything we needed.
The functionality of MYOB Advanced met our many needs including customer special pricing, advanced stock management, a customer portal as well as CRM.