Tag Archives: Cloud Computing

What Digital Transformation Means for Small and Midsize Manufacturers

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!

8 considerations to help your business choose the best ERP solution

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Looking to implement an Enterprise Resource Planning solution for your business?

Enterprise Resource Planning has evolved drastically over the last few years. Big Data, Artificial Intelligence, IoT and Cloud Computing have all contributed to better-performing ERP solutions that are easier to implement and use.

Here are our top recommendations for the key aspects to consider when choosing an ERP solution for your business.

#1 – Technology vs business benefits

You don’t implement Enterprise Resource Planning Solutions because they have great technology. You implement ERP Solutions because they offer real business benefits – improved cash flow, better customer satisfaction and staff retention – helping you run a better business. But, the world of ERP (and most other business improvement technologies) is rapidly changing and being influenced by technological improvements. Think of:

Cloud – Ignoring for a minute the financial implications of the cloud vs on-premise question consider the computing power that the Cloud gives you access to. Scaleable processing power at your fingertips – scale up and down with ease.
Mobility – A must-have in today’s world! Access your data, reports and fully functioning ERP solution anywhere, anytime via a web browser or apps.
Internet of Things – The connected world is here. The internet, cloud and other technical enhancements allow us to connect multiple devices and to share relevant information across platforms. Add into the mix Artificial Intelligence (AI) and you start to realize just how important technology is becoming when choosing an ERP solution. Think of a connected world where the warehouse is alerted of a late delivery when the truck that is scheduled to make the delivery has a technical issue or is in peak traffic. Your ERP solution is notified and an SMS or other notification is automatically sent to your company sales team and the customer. That’s how we use technology to improve customer service.
E-commerce – Trade seamlessly 24×7 with e-commerce and EDI integration.

#2 – Functionality of the solution

It goes without saying that the ERP solution you choose for your business must offer the core functionality you require to run your business and make improvements to business processes (quicker quote to cash timeframes, better information for decision making and advanced planning and budgeting tools).

When reviewing an ERP solution make sure you carefully evaluate all functional requirements – Finance, operations, Service, manufacturing, inventory and reporting. Ask a “functional head” to document and review requirements for each business function. As an example, an inventory manager might review the functional requirements for purchase planning, goods receipting, warehouse management, inventory reporting and stock movements. Create a checklist of requirements and manage that checklist with potential providers.

#3 – Big Data, Analytics and Business Intelligence capabilities

Big Data is becoming ever more important. In today’s connected world we are generating big data volumes. These data volumes are of no value unless we can sort and analyse data into meaningful information for decision making. A few considerations here include the following.

Data volumes are increasing – Choose a modern ERP solution that can cater to large data volumes from multiple sources – ERP, CRM, social media, e-commerce, customers and suppliers.
Analytics – These large data volumes need to be sorted, checked and reconciled. With data being made available from so many different sources it is critical that the analytical tools we use can check and reconcile data for accuracy before presenting the data.
Visualization – We retain the visual aspects of reporting. As a result, what we want is great visualization tools for reporting. Make sure that the reporting, KPI, BI tools that you use offer a variety of visualization opportunities.
Ease of use – This goes beyond simply being able to view and schedule reports. In today’s connected, mobile-first and fast-paced world we need the ability to write our own reports, dashboards, KPIs and data analytics. New age ERP Solutions cater to this requirement with pre-written data analytics and cubes to allow users to create their own reports. As an example, a sales data analytics layer will allow a sales manager to write his or her own report based on all the available fields available in the sales analytical layer. The ERP provider will have pre-written the analytical layer with all of the typical data that you would require to write a sales report – items, customers, sales order details, credit notes, sales volumes and pricing. This allows the sales manager (writing the report) to pick the data they want and simply drag the required fields into the report. Simple report writing without requiring technical knowledge.

#4 – ERP vendor

Make sure you choose an ERP solution from one of the top ERP providers. With technology moving quickly you will want the backing of an ERP vendor that has the investment in R&D, people, technology and processes to take you on a journey to success. The pressure on smaller ERP providers is increasing as technology advancements gather pace. When it comes to ERP vendors only the fittest will survive.

#5 – ERP reseller / partner

Choosing the right ERP product for your business is half the solution. A critically important decision is the ERP reseller (partner organization) that will implement the solution for you!

A great ERP solution is worth nothing unless you have a partner organization to help you implement the solution. Requirements include system scope, system configuration, user training, user acceptance testing, data conversion, go-live support, and all-important post-go-live support. Your relationship with the implementation partner should be more than a supplier relationship – your ERP implementation partner will be working closely with all team members, across your business, and will have access to sensitive company data. Your investment in ERP is likely to be substantial and project success is critical – make sure you choose the right partner. Some tips and tricks when it comes to ERP implementation partner selection:

Culture – Make sure the culture of the implementation partner is similar to yours.
People – Interview the consultancy and project management team that will be working on your implementation. This will give you an opportunity to get a better understanding of each team member, their previous experience and expertise.
Experience – In similar industries and the implementation of ERP for similar customers is important.
Agreement – Make sure you have a fair but comprehensive agreement in place to manage the implementation process.

#7 – Cloud vs On-Premise

No specific answer here. Do your homework and make a decision that is right for your business. There are multiple advantages to the Cloud but, it’s not for everyone. Consider the following when deciding between cloud and on-premise:

Current infrastructure – At a time when your infrastructure is nearing the end of its useful lifespan and has been fully depreciated is always a good time to consider the cloud.

IT Resource – Your companies access to good, internal, IT resource will have an influence on your cloud vs on-premise decision. If you don’t have internal IT resource then, you are more likely to move to the cloud to outsource infrastructure requirements,

investment – Cash flow and investment requirements are quite different for cloud vs on-premise. On-premise requires a much higher upfront investment.

Scale – Cloud allows you to scale up and down (users, processing power, and functionality) easier than On-premise and therefore lends itself to businesses that are more exposed to fluctuations in user count and business conditions.

#8 – Budget

Unfortunately budget always has an influence on ERP implementations and product selection. There is no point in reviewing and selecting an ERP product that is well beyond the budget that your business has allocated to get the job done. At the same time, ERP Solutions is not the sort of investment that you want to “cut corners” with. Make sure you have the appropriate budget allocated to your ERP implementation.

Digital Transformation Trends In The Australian Professional Services Sector

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In the business world, digital transformation is no longer just a buzzword. Neither is it a luxury that small and midsize professional services can do without. Instead, it’s a matter of survival—something that Australian businesses must do to beat the stiff market competition and avoid lagging behind. These service firms are digitising various aspects of their operations to drive business value.

Overview of Professional Services in Australia

Professional services, including accountants, tech consultants, legal experts, and management consultants have cranked up their contribution to the Australian economy. According to Alexandra Heath from the Reserve Bank, this sector accounts for 20% of the workforce. She also said that the sector accounts for 25% of gross value added today, up from below 20% in the 1990s.

How Professional Services are Adopting Revolutionary Technology

According to “The Digital Transformation Executive Study” survey by SAP/Oxford Economics, small business services across the globe find it necessary to adopt technology to streamline their operations and get the most out of their employees and knowledgebase. The research found that 61% of small and midsize professional service firms consider digital transformation to be critical to their survival. About 57% of enterprises in this sector digitise their processes to enhance their competitiveness.

Here are some of the critical digital technologies these service companies are adopting:

Cloud computing: The service delivers otherwise unaffordable technology and specialist skills to professional service providers. It enables small firms to compete effectively with their larger industry counterparts.
Mobile technology: It enables co-workers to collaborate remotely and work on the go. Firms don’t need a massive IT investment to leverage the technology.
Big data: Professionals services leverage big data in many ways, including harnessing in-depth customer and market insights. These firms may deploy machine-learning algorithms to gather and interpret data from both structured and unstructured sources. The technology helps extract business intelligence that’s critical to smart decision-making and enterprise growth.

What are the key aspects that businesses in Professional Services are digitizing?

Business services in Australia are leading in the absorption and development of a specialist workforce with high capabilities for critical thinking and complex problem-solving skills. Small and midsize professional service firms appreciate the role that employees play in boosting sales and revenue, and they’re increasingly leveraging talent recruitment and retention technology to achieve their goals.

Professional services are also digitising strategy and planning efforts. For example, Enterprise Resource Planning (ERP) software enables enterprises to coordinate various back-office operations and workflows, including procurement, financials, and human resources.

Service providers that use sales and marketing technologies report higher customer satisfaction rates and revenue. They’re using customer relationship management (CRM) systems to streamline sales lifecycles and convert potential leads faster.

Other areas that service firms may digitise are data, platform, and network security. The companies can also harness technology to spread brand awareness and drive business revenue.

Challenges in Digital Transformation and How to Overcome Them

The main obstacle to digital transformation would be costs, but professional service firms in Australia are overcoming that by outsourcing their hardware and software. They’re engaging cloud providers as well as IT managed services companies to leverage economies of scale. The firms don’t have to maintain costly IT equipment and top talent to compete effectively in a flooded marketplace. Outsourcing enables smaller and midsize firms to tap into cutting-edge tech that was once the reserve of major corporations.

Professional service firms are now a top contributor to Australia’s economy. The companies are increasingly adopting newer digital technologies to cope with the dynamism of their work processes. Buoyed by affordable cloud-computing resources, these business services will continue to drive economic growth in the nation.

No matter your profession or industry, feel free to contact us for help leveraging digital technology to drive business value.

Sage Enterprise Management Cloud Vs On-premise: Your Rollout Options

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Should you implement Sage Enterprise Management Cloud or On-Premise? After you choose Sage Enterprise Management as your ERP software solution, you now want to decide whether to implement it in the Cloud or On-premise.

The good news is that the options are certainly there for you! In this article, we are going to explain some of the differences and considerations you need to make when evaluating the two options.

First of all, why are so many companies moving their ERP software to the cloud? When compared with an On-premise setup, the Cloud makes perfect sense. Think about the following benefits:

Reduced upfront cash flow requirements;
No need for expensive hardware and infrastructure;
Quicker deployment of ERP and outsourced maintenance of the on-going requirements associated with security, infrastructure and back-up;
Gain access to scalable computing power (more computing power than ever before);
Pay as you use.

Sage Enterprise Management Cloud Vs On-premise

Sage offers you, the customer, choice. When considering Cloud ERP vs On-premise there are a number of factors to consider:

Current infrastructure;
On-going OpEx vs CapEx costs;
Internet speeds and reliability;
Functional requirements.

As an ERP software solution provider, we believe that the Cloud or On-premise deployment choice should be made by the customer, not the vendor.

Yes, there are multiple advantages to moving your ERP software to the Cloud but there might be specific reasons preventing you from doing so or you might have done the maths and you might be of the opinion that an On-premise ERP makes more sense for your business.

Sage Enterprise Management, offers all of the technology that you expect from a modern ERP solution:

Cloud
Mobility
E-commerce
Web client

In fact, Sage Enterprise Management was an early adopter of web client architecture for ERP, leading the way for Cloud and browser independent remote access from anywhere.

I am a huge fan and supporter of Cloud ERP solutions but let’s not forget that the Cloud is not always right for every business. We can still access Mobility, eCommerce and Big Data analytics from an On-premise ERP solution. As stated earlier, there might be specific reasons for still considering an on-premise solution.

Your deployment choices with Sage Enterprise Management

Here are some of the deployment options offered by Sage for your Sage Enterprise Management ERP software.

Traditional On-premise. Purchase your server, use your existing infrastructure and stay on-premise. In this instance your Sage Enterprise Management licenses are “purchased” and you pay an annual maintenance and support plan to cover your day to day support requirements.

Pros: There is a lower on-going software investment. Most of your software investment is made upfront with the software “purchase”. When calculating investment of On-premise vs Cloud you should consider all costs – hardware, IT resource, back-up and network costs.
Cons: This type of purchase requires a bigger upfront investment. – Maintenance of infrastructure requirements can prove expensive and time-consuming.

Private Cloud. At Leverage Technologies can provide private Cloud options. These private Cloud options include the ability to do an upfront software “purchase” and pay an annual support and maintenance fee or alternatively pay a monthly Software as a Service (SaaS) fee. This is often referred to as a hybrid model. Your Sage Enterprise Management Solution is hosted in the Cloud on infrastructure that is outsourced (you pay a monthly fee). You have access to your own Cloud environment, hence the term “private” cloud.

Pros: All of the advantages of a multi-tenant Cloud (public Cloud) offering. Easier access to specific development tools and customization. Upgrades can be timed to your specific requirements because you have your own environment you can decide on the timing and planning associated with system upgrades. This is particularly useful if you have multiple developments or integration requirements.
Cons: Will be a more expensive option than multi-tenant Cloud.

Multi-tenant Cloud. You are sharing secure infrastructure with multiple other companies.

Pros: Automatic upgrades (reduced on-going cost of ownership), lower monthly fees, no need for your own expensive infrastructure, back-up and security are world class.
Cons: On-going cost of ownership should be compared to other available options (on-premise and private cloud). Remember, as stated earlier, when comparing the investment requirements of on-premise, private and public Cloud one should compare all relevant costs – infrastructure, upgrades, IT staff and security.

Conclusion

As consumers we love choice, so why should ERP be any different?

With an ERP solution from Sage you, the customer, can choose a world class ERP solution with the deployment option that works best for your business.

Whether it’s a traditional On-premise setup, private Cloud or multi-tenant Cloud, Sage Enterprise Management give you the solutions for setting up your ERP the way you prefer.

At Leverage Technologies, we have helped numerous Australian companies understand the various options and implement the solution seamlessly. For more information on the ERP options offered by Sage call us on 1300 045 046 or email [email protected].

Brett Mundell

Managing Director

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.

How To Choose The Best ERP Solution: A Guide For Small To Medium Sized Business

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There is no quick, easy answer to the question “which is the best ERP software solution for my business?”

There are multiple different Enterprise Resource Planning (ERP) and Business Management Solutions (BMS) to choose from in the Australian SME market.

Rather than focusing on which is the best solution, in this article we will focus on the best process to ensure that your business implements the right ERP solution.

When it comes to ERP, every business is different

The first thing to understand is that when it comes to ERP software solutions, every business is slightly different. Even if your functional requirements are similar to another business, there are other influencing factors when it comes to choosing an ERP solution:

Internal resource skill set and availability;
Current systems;
Processes and structures within your business;
Budget;
Timelines;

Each of these factors and a number of other elements can influence which ERP solution is best for your business.

How functional requirements influence your ERP choice

Choosing an ERP solution that is well suited to your functional requirements is what the decision is all about. Aim for a solution that has the standard, out of the box functionalities that you are looking for.

List your core functional requirements and short-list ERP solutions that have a close functional fit to those requirements. Start at a high level then drill down to more detail as your investigation into ERP continues.

As an example, you might list your major requirements as follows:

Multi-company, multi-country with consolidation;
Inventory control across multiple warehouses;
- Bar-code scanning / paperless warehouse;
Simple manufacturing;
- Works order;
- Bill of materials;
- Basic MRP / planning;
Service and repairs;
- Management of the repairs and returns process;

Start with a high-level list of requirements (usually a one-page document). Align this to the vendors that believe that they are well suited to your functional requirements and budget. The ERP vendor will need to align the budget with expectations.

Keep it simple

Don’t over-complicate things. If your business does not require complex manufacturing or complicated supply chain management then, don’t buy it or try and implement it. Take baby steps, grow into your ERP solution and keep it simple – automated, but not over-complicated.

Cloud vs on-premise

Choose Cloud vs on-premise based on your company’s specific situation and requirements.

It is true that in 2018, about 90% of enquiries that the team at Leverage Technologies received are for Cloud-based ERP solutions. But, this does not mean that Cloud is the only way to go. Assess your company’s requirements and infrastructure before making a decision:

Internet reliability and speed;
Five-year cost structure review;
Remote access;
Growth plans;
Standard ERP vs bespoke (how “standard” are your requirements?).

Technology is becoming increasingly important

In an ever-changing world where technology is moving at a more rapid pace than ever before do not ignore the benefits that you might be missing out on.

Think about some of the advantages of a technically advanced, modern ERP application:

Cloud – More computing power available than ever before for a simple monthly fee. Pay as you go and add more computing power as you need it;
Mobility – We can’t be competitive in today’s world unless you offer true mobility apps, web client access and the ability to get the information that we want, when and where we want it;
E-commerce – Easy, integrated and available 24 x 7;
EDI – Integration for order taking and a whole lot more. Integrated into the Australian major retailers and extended (in some form) through your supply chain. Make it easy to manage orders and the delivery process;
AP Automation – Automate your AP process and approvals using OCR technology;
Internet of Things (IoT) – The connectivity of multiple devices across the internet to share data. Think of the multiple internet connected devices that we use daily and now, consider all of that data being shared. How can this data help us to make better-informed decisions with regards to customers, marketing, suppliers and team members to help us run a better business?
Artificial Intelligence (AI) – It’s coming to ERP. With massive data volumes being collected from multiple different sources, Artificial Intelligence will help us sort through data to pick trends and help make better decisions from machine learning.

Partnership matters

Choose your ERP software and Cloud solution carefully but choose your ERP implementation partner even more carefully! Your ERP implementation partner will take responsibility for transforming an off the shelf ERP solution into a tightly integrated solution for your business. Choose a partner that has previous experience in your industry and is a good cultural fit for your business.

Specifically look at your ERP providers:

Previous experience in similar industries with similar size organisations;
Support options;
Implementation methodology and process;
Team size, experience and how long team members have been with the organisation;

Take a medium to long-term view

This is surprisingly difficult to manage. If you take a view which is too “short-term” you risk having to re-implement a new ERP solution again in 3-5 years to cater for your growing business and the associated requirements.

Take a view which is too “long-term” and you risk over-complicating your implementation and choice of ERP as you try an implement functionality that you don’t yet need.

Balance these requirements for the best chance at success.

Conclusion

“Which is the best ERP software solution for my business?” Follow the steps in this article to narrow down your research and make sure that you focus on the right success factors.

There are a number of outstanding ERP providers and resellers in the Australian market and there is an ever-growing amount of competition for Cloud-based ERP. The winner is you, the customer!

As technology continues to advance at a more rapid rate than ever before and as the world of ERP solutions demands more value for money you will be able to choose from several competing solutions to choose the best ERP offering for your SME business.