ERP BLOG

The benefits of Modern ERP

Updating your ERP for Success

ERP is vital for any business that wants to remain competitive, agile, and secure. A modern ERP system does this by integrating and automating your business processes throughout your operations in order to achieve better business outcomes, streamlined processes, and happier customers.  

Read on to find out why you should consider upgrading your ERP system>

The need to upgrade

As a medium to larger-sized business, you know how important it is to have a reliable and efficient ERP system to help manage the backend of your business. They essentially automate business processes, such as financials, inventory, sales, and human resources. This results in optimised operations, with a reduction in costs, improved quality, and increased customer satisfaction. Basically, everyone is happy.

However, there is one caveat. All ERP systems are not equal. For example, at BusinessHub we see so many businesses still using outdated ERP systems that were created to meet the needs of a bygone era. Think back to the 1990s. It may not seem like it was that long ago, but we’re talking 30 years here. A lot has happened since. And while would never shame someone for being a troglodyte, the reality is that these old systems are not only slow and clunky, but they leave you exposed to modern day security risks, they limit your functionality, and get in the way of your compliance efforts.

These challenges have serious consequences for your business.

In this blog, we will present the most compelling reasons why you should considering upgrading your ERP system now and how modern ERP solutions can help you achieve better business outcomes. Read on to find out more.

Reasons to consider an ERP

Integrated information + intelligence

Modern ERP systems offer embedded analytics capabilities that allow you to access real-time, accurate, and relevant data from all aspects of your operations.

You can easily create, tailor, and deploy dashboards and visualisations that give you a comprehensive view of your performance levels.

This allows you to make informed decisions and improve your operations throughout. Automated tasks, optimised processes, and deep insights – all working to help you gain a clearer picture of where your business is at, and where it’s headed.

Productivity + innovation

MYOB Advanced is an ERP solution that offers you features which boost your productivity and innovation potential. You can automate workflows, reduce errors, eliminate redundancies, and increase collaboration across your organisation – especially when you leverage the advantages of MYOB Advanced Payroll and Workforce Management.

Supply chain functionality + visibility

An ERP system designed to meet the needs of the Australian market, like MYOB Advanced, will optimise and enhance sales and distribution visibility. You can determine your price structures, and stay nimble by changing pricing for promotions, seasonal fluctuations, or cost changes as needed.

You can also effectively manage your pricing strategies and aftermarket support, ensuring customer satisfaction and operational efficiency throughout your supply chain.

 

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Controls and compliance

New ERP systems like MYOB Advanced offer users features that provide a deep understanding of the health of a business.

For example, you can run accurate financial reports, streamline your processes, and make informed decisions based on live data. In addition, you can rest easy knowing that you will always remain compliant, thanks to the ongoing relationship between MYOB and the Australian Government.

What’s your next move?

As you can see, a cloud ERP system brings many benefits and advantages to your business. And by investing in a modern cloud ERP solution like MYOB Advanced, you can stay ahead of your competition, improve your customer loyalty, and drive your growth and success. The ultimate forula to winning.

Don’t wait any longer. The journey towards business excellence starts here. 

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