Author Archives: Brett Mundell

About Brett Mundell

Brett has more than 20 years of business software sales and company management experience. Brett has been involved in more than 300 ERP projects. His passion is customer satisfaction, making sure every client is more than just satisfied. Brett wants our customers to be driven to refer their friends and peers because we offer the best services and technology available and because we exceeded their expectations.

A Data Management Guide for Midsize Companies

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The ability to track, extract, and analyse data on an enterprise-wide scale provides a strategic advantage to midsize businesses. With effective data management, these companies can mine in-depth insights to drive customer engagement as well as optimize costs and workflows.

Big data management entails tapping into in-memory processing, which enables applications to access and manipulate data very fast as it’s generated.

Armed with in-process business intelligence, operations personnel can make better, informed choices. Leveraging these data insights can also help improve employee/customer engagement.

Here are the basics for leveraging enterprise data for predictive analytics and decision making.

Use Appropriate Data Structures

A sizeable chunk of your data will be streaming in unstructured from diverse sources, and you’ll need a way to structure it for analytics as well as querying applications. As such, think about how you intend to use the data, and figure out a way to sort, tag, or classify it.
If you don’t have the necessary big data mining tools and AI analytics resources to extract, organize, and study massive amounts of unstructured enterprise data, consider engaging a provider who can help.

READ NOW: How High-Tech Companies Are Pioneering The Digital Economy

Connect to the Internet of Things (IoT)

You haven’t yet figured out everything there’s to know about how customers are using your product or service if you’re not leveraging the enterprise IoT. Connecting the technology to products enables companies to monitor, gather, filter, and scrutinize usage, performance, or platform data using AI or machine learning applications.
IoT data analytics can help an organization make mission-critical, operational, technology, or business decisions. The technology delivers big data that’s virtually impossible to track, collect, and analyse in real time using traditional techniques.

Build the Capacity to Process and Store Big Data

As your digital footprint expands, you’ll be generating or receiving massive chunks of enterprise data rapidly. Do you have the physical infrastructure required to store it in-house?
As a midsize business with potential for growth, you may prefer to invest in cloud storage. This way, you don’t have to spend heavily on redundant storage capacity. You can scale gradually in tandem with the rising volume of business data.
Cloud storage allows you to employ big data analytics while on the move, including using mobile devices. It enables your employees to make data-driven decisions on demand, regardless of their physical location.

Invest in Big Data Transmission and Processing Capacity

Be sure you have sufficient bandwidth to accommodate the rapid flow of massive chunks of enterprise data. The need to access and analyse some of the data in real time makes it paramount to deploy adequate network and processing capacities. Equally important, don’t forget to make technical provisions for any CPU-intensive big data-mining, AI, or ML applications.

Secure Your Enterprise Data

Some of the data you’re collecting or storing constitutes sensitive personal information or business secrets. You need to secure it in compliance with relevant local and international regulations. There are costly legal and financial ramifications for not complying with cybersecurity laws.
If you have business data in the cloud, be sure to figure out who between you and your provider is legally responsible for its protection at rest and in transit. Typically, encryption, multi-factor authentication, firewalls, and anti-malware are critical cybersecurity measures you need to have in place.

Summing it Up

Leveraging data analytics can help midsize businesses boost productivity, streamline workflows, and register incremental revenues. Fortunately, they don’t have to deploy costly on-premises infrastructure to do that.

Instead, the companies may partner with strategic cloud providers to help optimizing enterprise data management to drive business value.

For more information on how to leverage Big Data to grow your business call us on 1300 045 046 or email [email protected].

A beginner’s guide to choosing the wrong ERP software in 5 steps

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We often write about Enterprise Resource Planning solutions and what businesses should be looking for in terms of budget, functional fit and other technical aspects.

After having implemented ERP software for more than 250 businesses we can surely say that choosing an ERP software solution requires a strict process, clear team responsibilities and the expertise of a trusted third-party advisor.

But what if you are at your first attempt and want to speed up the ERP selection process? What are the risks that you should be aware of to avoid implementing the wrong solution?

In today’s article, we give an overview of what (from our experience) typically leads businesses to implement the wrong ERP software solutions.

#1 – Overlooking the “ERP readiness” signals

The first (and easiest) way to start your journey to a new ERP software solution with the wrong foot, is to delay your ERP implementation. Not implementing an ERP software when the time comes can be a costly exercise for the whole business.

In the article “6 ERP readiness signs growing businesses are likely to encounter”, we identify the main readiness signals as:

Your business has outgrown the current accounting software;
Your business is using too many manual workarounds;
The current solution is running too slow;
Your capabilities to expand a geographic expansion are limited;
You need new tools (eCommerce, EDI, AP Automation,…);
You need better reporting (“A single source of truth”).

When these six signals start showing themselves in your business, it’s time to start looking at a new ERP software solution.

#2 – Not defining your technical requirements (In details!)

ERP requirements should be defined prior to commencing any research and selection process. The requirements list should come from every department and area of the business including finance, warehouse, logistics, manufacturing and customer service to name a few.

The requirements list should define the purpose and goals of the new system and answer the question – “how does the perfect environment look for my various departments and for us as a business?”.

It is vitally important to structure the ERP selection process according to your requirements list to ensure success in the short, medium and long-term.

Businesses that don’t have a clear idea of what the new ERP system should possess are likely to encounter a number of challenges post-implementation.

Our advise is for you to take enough time to write a requirements checklist for the new system or to work with an experienced ERP provider to guide you through the process.

#3 – Not considering Cloud Vs On-Premise

Cloud ERP or On-Premise ERP? If you haven’t asked yourself this question, you probably should. ERP software solutions are rapidly shifting to a Cloud deployment model for several reasons – cost-effective implementation, fully managed and maintained, low OPEX, enterprise-grade security, and more. On the other side, an On-Premise ERP setup means that you have to implement and maintain the technology environment to host the software.

There is no right or wrong answer when choosing between the two. However, you should be aware of the advantages and disadvantages that these solutions present. Ultimately, you should look beyond the 5-year ROI to truly understand the benefits that one setup will give you over another.

#4 – Overlooking to capabilities of a modern ERP

Think about your new ERP software as an enabler, rather than a cost centre. New technologies available to businesses of all industries and sizes mean that you can unlock further efficiencies for your business.

Large high-tech companies are already pioneering disruptive technologies, so you don’t have to. Big Data, Artificial Intelligence, IoT, Customer Experience Platforms to name a few. When choosing a new ERP software, keep in mind these new technologies.

#5 – Not defining your budgetary requirements

How much should you spend on your ERP implementation? Have a rough idea of the budget available to the implementation of a new ERP for your business. This will help you narrow down your research and avoid wasting time researching the wrong solutions.

The budget is a critical part of any ERP implementation; it should be discussed internally and with your third-party provider upfront in order to set the right expectations.

Conclusion

At Leverage Technologies, we have implemented ERP software for more than 250 Australian businesses since 2005.

Over the years, we have developed a deep understanding of how different ERP solutions serve the needs of various businesses, from any industries and size.

For more information or to start your journey to a new ERP software solution, call us on 1300 045 046 for a no-obligation consultation or email [email protected].

How technology can help improve customer experience in Wholesale Distribution

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Businesses operating in the Wholesale Distribution industry are faced with a number of priorities including maintaining optimum inventory levels, ensuring accurate order fulfillment, shipping and more. All this while optimising cash flow and acquiring new customers.

In today’s markets, wholesale distributors need to evolve fast and remain efficient to provide a high level of customer satisfaction. Simply ensuring on-time, in-full delivery of products is no longer enough.

As customers demand a more proactive approach to service delivery from their providers, wholesale distribution businesses are increasingly implementing technologies to transform the way they operate across all areas. From inventory management to delivery, to customer service and more. The ultimate goal: improving customer experience to create growth opportunities.

In today’s post, we are having a look at some of the key areas that businesses in the Wholesale Distribution industry can improve with the use of technology.

Customer satisfaction is the best customer acquisition strategy

According to the IDC research “The Next Steps in Digital Transformation”, conducted in 2017 by interviewing 3,904 Small and Midsize Businesses, customer acquisition is on top of the priority list.

To support this goal, SMBs are using a variety of technologies (an average of 4.8 solutions in 2017 compared to 3.8 in 2016 ). The most popular technologies in use include Collaboration, CRM and eCommerce.

To acquire new business, your existing customers’ references, testimonials and high NPS levels are key. Happy customers are not only loyal, but they also become your advocates!

In the Wholesale Distribution industry, customer satisfaction starts with the back of office systems that can enable an enhanced level of service.

#1 – Real-time inventory management

Choosing the right set of technology tools to manage your inventory in conjunction with other key areas of your business (such as finance and sales) can help you fulfill orders more efficiently without causing a surplus of inventory.

The result? Happy customers and a better sales process that relies on up-to-date data, coming directly from within your business.

#2 – Value-added Wholesale Distribution services

Implementing the right technology to provide value-added services to your clients can prove to be a great way to increase customer satisfaction and develop new business. As stated in “Embracing the Digital Economy in the Wholesale Distribution Industry” by SAP, wholesale distributors can aim at taking their business to the next level by providing value-added services such as:

IoT sensors embedded by the manufacturers into products to help your customers identify downtimes or need for new parts/replacements;
Using Artificial Intelligence to predict future demand based on external factors, such as weather forecast;
Using real-time, predictive analytics to recommend order items, quantity and delivery time;
IoT-connected vending machines and other retail venues.

#3 – Modernising customer touchpoints

Customers expect a seamless experience across each stage of the interaction with your business. Modern technology can help your Wholesale Distribution business enhance customer satisfaction on multiple fronts.

Purchase – Providing new venues to order products in real-time using eCommerce platforms that are integrated end-to-end with your warehouse and 3^rd party suppliers. This can include websites, text messages an automated re-ordering;
Procure to Pay – Predefine suppliers, items cost, optimal stock levels and re-order points to automate the interaction with your customers, minimise manual intervention and increase revenue;
Social Media integrations – Incorporate social channels into your customers’ communication venues to get feedback in real-time;
Personalisation – Focus on improving existing relationships by implementing Customer Experience technologies. Register your customer interactions and other key information to focus on the engagement strategies that work best.

Wholesale Distributors can adopt a number of smart solutions to modernise the way they interact with their customers, resulting in an increase in satisfaction and repeat business. With the advent of Cloud Computing, these solutions are now also available at a low Total Cost of Ownership (TCO) and are flexible enough to adapt to the future requirements of your business.

At Leverage Technologies, we have been serving the wholesale distribution industry since 2005. For more information or to learn new smart ways to transform your distribution business, call us on 1300 045 046 or email [email protected] today.

How Technology Enables CFOs to Meet an Expanding Finance Mandate

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As finance mandates at small and midsize enterprises expand quickly, a typical day in the life of Finance Managers and CFOs is no longer what it used to be.

Finance departments are playing a more prominent role in enabling or leading the strategic transformations their companies need to succeed and remain relevant in a highly competitive marketplace. Many finance leaders are confident they can match the ever-evolving demands of their roles, and they can help steer their organizations in the right direction by leveraging sophisticated information technology.

Why and How is the Finance Function at SMBs Expanding?

SMBs are ambitious, and they aspire to grow. Between where these companies are today and where they wish to be in the future, critical transformations must occur. Financial management and oversight sit at the core of the necessary operational or transactional changes.

Today, if the finance manager of a growing enterprise is not taking up some traditional responsibilities of a CEO, they’re collaborating closely with a CEO to accomplish common growth objectives. CFOs are now impacting key decisions and strategies outside of their traditional finance and accounting portfolios. Their sphere of influence has grown into departments like legal, IT, and human resources.

For the finance function to play a central in enhancing corporate performance in an entire organization, effective collaboration is necessary. As such, CFOs need to find a way to work closely with their counterparts in areas like sales, marketing, supply chain, or corporate strategy.

Going forward, SMBs expect their finance departments to deliver and share much more than just past results and statistics. It’s now a finance job to produce in-depth analytics to shed light on and help shape the future of SMBs.

Can Finance Professionals Cope With their Evolving Responsibilities?

Yes, finance leaders and their teams can match the demands of their changing roles, but they need to adopt the prerequisite skill sets first. Here are some of the capabilities these professionals have to acquire or develop to keep pace with the rapid transformations in the digital economy:

Analytics: SMBs have to make informed, mission-critical decisions very fast these days. They’re increasingly relying on the finance function to produce actionable business intelligence quickly enough. Finance teams need to acquire the skills and capabilities to collect and analyze financial data. More than ever before, SMBs rely on such analytics to develop forward-looking growth strategies.
IT skills: As the line between IT and finance continues to blur, SMB finance professionals have to advance their technical know-how. They need to learn how to use technology to fulfil new mandates, such as sophisticated analytics.

How Finance Can Leverage Technology to Fulfill its Evolving Mandate

Technology enables the finance function to serve its emerging roles well against the backdrop of a fast-paced change in the business environment. Here are key examples:

Data collection: Today’s enterprise data comes from a broad spectrum of structured and unstructured sources. Harmonized information systems can solve the problem and help finance leaders extract financial and performance data from disparate sources.
Analysis: Only with advanced technology can the finance function execute in-depth financial and performance analytics at the necessary speed to inform strategic choices, and to accelerate business growth.
Collaboration: To play a meaningful role in areas like sales, inventories, or HR, finance professionals have to use collaboration tools. Integrated information systems make it all possible. They provide full visibility into enterprise data, enabling personnel across the various operating or business units to share and consult in real time. Finance leaders need such technology to deliver business intelligence to their colleagues on time.
Automation: Technology automates vital enterprise functions and workflows, from big data mining and analytics to collaboration. It helps finance departments to streamline reporting, accounting, and compliance functions that are growing in complexity day by day. In the end, automation lets finance professionals focus on higher-value business processes or tasks.

In Conclusion

SMBs have to embrace several fundamental changes to achieve sustainable growth against the background of a rapidly changing digital economy. But most of the necessary enterprise transformations are increasingly becoming integral to finance, introducing new responsibilities for this function. As such, finance managers have to develop capabilities for leveraging technology to play a central role in developing and implementing their organizations’ fast-paced growth strategies.

Are you a finance leader seeking to utilize technology to help your company succeed? Contact us at Leverage Technologies for help choosing and implementing the right tech solution!

What Digital Transformation Means for Small and Midsize Manufacturers

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Manufacturers have traditionally led other industries in the implementation of transformative technology. However, digitization of manufacturing operations and functions has come about more out of necessity rather than just preference. Digital technologies are critical to small and midsize companies that hope to streamline production processes and drive value, setting them apart from their competitors.

Here’s how game-changing digital technologies are helping SMEs in manufacturing to achieve their objectives more cost-effectively:

#1 – Cloud Computing

According to an Oxford Economics study, 59-60% of small and midsize manufacturers plan on leveraging the cloud to host more forward-looking technologies, such as robotics and on-demand 3D printing. The companies need these technologies to stay relevant at all times.

For example, cloud-based Enterprise Resource Planning solutions are helping manufacturers automate specific back-office functions to increase their operational efficiency. ERP software integrates every aspect of manufacturing workflows such that all business functions rely on a centralized database.

The system provides a real-time, 360-degree-view of materials and supplies, human resources, scheduling, sales, customer relations, finance, and accounting. With timely access to accurate information, manufacturers can streamline production processes, improve customer service, and reduce costs.

Digitizing the supply chain enables manufacturing companies to automate mission-critical workflows. It’s helping decision-makers in the industry to identify resources that need deployment or adjustment to meet production objectives in time. Also, automating approval processes and reporting increases speed to market, giving manufacturers a competitive edge.

#2 – On-Demand Additive Manufacturing

On-demand 3D printing is the future of manufacturing. Indeed, additive manufacturing (AM) wouldn’t materialize without digital technology. It involves building physical, 3D products by adding successive layers of raw material. Typical applications include prototyping, industrial tooling, and the development of market-ready products like footwear and prosthetics.

Potential benefits of on-demand AM include:

Custom products: Through AM technology, manufacturers offer their customers a way to build highly personalized products.
On-demand availability: Products are available on-demand via 3D printers, enabling manufacturers to differentiate themselves by responding quickly to customer demand.
Lower shipping costs: Strategically-located 3D printers mean shorter delivery times and shipping distances. With cloud-based, on-demand AM technology, small and midsize manufacturers can reduce or eliminate the cost of sourcing parts overseas.

#3 – Big Data and Analytics

SMEs in the manufacturing industry are leveraging big data to extract in-depth insights into raw material usage and movement of finished parts through their system. Machine learning (ML) algorithms are helping these companies produce actionable business intelligence by analyzing data from disparate structured and unstructured sources. The resultant analytics may inform the development of high-quality products to drive revenue. It also helps streamline manufacturing processes to cut costs.

#4 – Internet of Things (IoT)

Manufacturers are using IoT technology to digitize key assets and workflows to streamline operations, grow business, and surpass customer expectations. They’re attaching digital sensors to physical production systems or assembly lines. These interconnected devices provide better visibility into the whole value chain, enabling manufacturers to extract system performance data, spot potential bottlenecks, and drive operational efficiency.

#5 – Mobile Technology

Mobile technology allows small and midsize manufacturers to grow and expand to new locations and markets without incurring extra infrastructure costs. Their employees can access company networks and cloud-based computing resources via the internet to work and collaborate from remote locations. As such, technology increases employees’ productivity.

Digital transformation enables small and midsize manufacturers to streamline and automate mission-critical processes, resulting in operational efficiency. It provides in-depth business intelligence to inform product development, hiring decisions, customer engagement, and supply chain strategies. These companies are leveraging an array of technologies, including the cloud, IoT, ML, robotics, and mobile solutions, to drive business growth and beat their competition.

Do you desire to adopt forward-looking digital technologies to achieve your business goals and keep pace with your manufacturing competitors? Contact us today for an expert evaluation of viable ERP and technology options!

ERP of the Future: 2018 Top Trends in Enterprise Resource Planning

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Enterprise Resource Planning has evolved appreciably over the past decade or so. It’s very advanced today, and it continues to grow into a versatile, scalable, and multi-faceted resource that businesses of all sizes may leverage to catalyze performance enhancements in the value chain.

Our predictions for the top ERP trends to track going forward

After having implemented ERP software for small and medium-sized businesses for over a decade, we believe that the top innovations will come in the following areas.

#1 – The Internet of Things (IoT)

IoT is the digital connection or networking of otherwise independent devices or systems, such as cars, assembly lines, and electrical equipment. By feeding real-time data on product usage, performance, or technical problems into a centralized ERP database, IoT provides the insights required to improve quality, streamline production processes and lower costs, customize the customer experience, or manage logistics more efficiently.

IoT lends itself to various outcome-oriented service models. In consumption-based insurance, for instance, the provider uses vehicle-installed software to track mileage and monitor their customers’ driving habits. The system sends the information to the insurer’s business management solution autonomously, enabling them to calculate monthly car-insurance premiums for a customer based on usage and risk assessment.

#2 – Software-as-a-Service ERP

Many businesses are no longer finding in-house legacy ERP financially or operationally tenable. They’re progressively shifting to SaaS ERP to reduce the total cost of ownership (TCO). The approach eliminates the bulk of capital injections associated with acquiring major tech solutions for business.

SaaS enables companies to deliver a host of ERP applications to end users, such as employees and suppliers, via the cloud. It provides access to data and user interfaces or portals through any internet-connected device. With the ability to work from any location with internet access, employees can build greater adaptability and responsiveness to dynamic demands of their official positions.

The model allows companies to scale, upgrade, and switch between applications without investing in new hardware. They may introduce new software to the mix as needed, including CRM, talent management, or inventory control, and still, keep the benefits of cloud ERP integration.

#3 – Artificial Intelligence (AI) and Machine Learning (ML)

Through machine learning, ERP solutions can become smarter to the point of predicting future business opportunities and risks without human intervention or explicit programming. For example, ML algorithms may incorporate real-time data from various internal and external sources, enabling organizations to work out production costs and avoid setting loss-making prices for their products.

AI will play a critical role in enabling ERP solutions to make decisions autonomously. It’ll reduce human intervention to just passive supervision, allowing decision-makers to commit more time to value-added workflows.

To make it work, an intelligent ERP first records user input and the ensuing sequence of actions. Its built-in ML capabilities enable it to draw from historical data and to provide viable recommendations. With time, the system learns to make the right call every time without user input.

#4 – Big Data

Primarily, ERP utilizes a centralized database to support a broad spectrum of business functions. However, companies need much more than structured data to understand their markets, personnel, and customers better. Big data analytics helps these organizations decipher the sheer chunks of structured and unstructured data flowing in very fast from both internal and external sources.

For instance, in customer relationship management, big data enables marketers to extract and analyze data from sources such as social media, contact centres, and sales to enhance customer service, predict demand trends, and calculate ROI on several marketing initiatives.

ERP with Big Data capabilities can also help recruiters with talent acquisition and management. Such a system extracts invaluable job market insights from job boards, social media, and HR systems, enabling employers to meet their staffing needs.

Is your organization well-positioned to leverage ERP systems of the future? Powered by ML algorithms, AI, and IoT, the business management solutions are getting smarter and more versatile. Talk to us today about implementing best in class ERP software for your business!

How High-Tech Companies are Pioneering the Digital Economy

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Digital technology is transforming business and service delivery models at an astonishing rate. Businesses that fail to adapt quickly will miss out on immense opportunities to drive efficiency in the value chain.

The good news is that high-tech firms are doing the heavy lifting, so you don’t have to spend a lot of time and money in research and development. They’re leading the transformation of the digital economy by researching, incubating, and developing market-ready solutions that various industry verticals can adopt right away.

With their innovative and disruptive solutions, here are some of the possibilities tech leaders are opening for businesses.

#1 – Outcome-Based Business Models

For companies to maximize profits, they need to limit spending to only what’s necessary for their essential operations. Outcome-based business models enable them to save money by paying for results rather than equipment or systems. For example, you can leverage advanced computer systems in the cloud, such as e-commerce software, without having to own or maintain the necessary hardware or software.

In the healthcare industry, practitioners may subscribe to diagnostic services, such as MRI systems, where they only pay for usage (scans). The equipment or service provider incurs the cost of acquiring and operating it. Similarly, a compressed air customer may prefer paying for usage rather than buying and servicing air-compression systems or cylinders.

#2 – IoT-Powered Innovations

The Internet of Things is one of the most advanced technologies that companies can leverage to drive customer service and satisfaction. After attaching digital sensors to the equipment and systems they offer, manufacturers are accessing massive chunks of usage data in real-time. They’re monitoring user preferences and identifying product features that require modification or upgrading to address specific customer needs.

IoT is an enabler of outcome-based subscription models too. For example, the technology can track compressed air consumption so that the customer pays for the amount used only.

#3 – Streamlined Business Processes

Companies can now utilize advanced tech formulas to streamline business processes and drive revenue.

For example, a digital supply chain is visible to all relevant players and entities, from marketing, sales, product development, and manufacturing to finance, inventory, suppliers, and customers. It’s an integrated ecosystem that enables multiple companies and business units to collaborate, plan, analyze, and make critical decisions based on real-time intelligence.

With a digital supply chain, you can predict demand across channels and implement strategies to satisfy it. It provides the intelligence required to match financial and business planning with demand patterns. Available in the cloud, the technology provides full transparency into sales data, order fulfilment, stock levels, and supply chain bottlenecks, helping streamline stock management.

Companies can streamline their procurement processes with digital supply chains. The solutions provide real-time insights into global demand dynamics, enabling firms to respond quickly. They capture data, such as customs duty and exchange rates, letting companies incorporate logistics costs into their pricing strategies and order fulfilment.

Manufacturers may also boost their operational efficiencies by digitizing their production processes. They can leverage smart technology and connected devices to extract performance data, identify potential issues, and ensure continuity of operations. The tech fosters stronger collaborations between manufacturers and their suppliers and customers.

Likewise, digitizing business processes helps attain customer intimacy by delivering highly-tailored solutions. Advanced tech firms are providing the computing resources that enterprises need to analyze customer requirements and configure and price complete as-a-service products accordingly.

#4 – Digital Talent Management

High-tech talent management tools can help organizations improve workplace conditions and employees’ productivity. Available as SaaS solutions, the technologies include employee onboarding and training systems that facilitate on-demand or on-the-job learning. They’re built to appeal to the learning preferences of the millennial workforce. Instructional videos, gamification, and nuggets of information make for a captivating learning experience for the younger employees.

Some of these solutions have big-data analytics capabilities that employers may leverage to attract, develop, and retain top talent.

Top tech firms have already developed and tested the digital solutions required to improve your business processes and achieve operational efficiency. What you need to do to leverage cutting-edge technology and drive a profitable value chain could be as simple as just plug and play. Contact us today for in-depth insights into revolutionary tech products!