08 Mar Have you outgrown MYOB?
Most small businesses start on accounting systems such as MYOB and Quickbooks and receive the benefit of a mature accounting software platform with a large user base and best practices. SMBs are able to run off these systems quite adequately for a number of years with quite a useful set of financial reporting and basic customer tracking tools.
However, after some amount of time and growth companies start to suffer the pains of asking too much of these low-end accounting platforms and create process in other non-integrated systems like customer relationship management (CRM), time-sheet applications and, in the worst case, Excel spread sheets to manage their businesses. When a company gets past the start-up or very small business phase, they need to choose a platform that not only meets their immediate needs but will be able to grow and adapt to its needs though it’s continued growth. Something that is far more than just an accounting system. The term given to these systems is enterprise resource planning (ERP).
What is ERP?
ERP is a business management system that integrates most functions of a business, including quoting, planning, manufacturing, service, sales and marketing. It also covers activities like stock control, order tracking, customer service, finance and staff. A true Enterprise Resource Planning (ERP) system integrates both internal and external information flows used by the organisation within a single, comprehensive solution. The objective of the ERP solution is to drive the flow of information between all internal business functions while managing connections, or “touchpoints,” to outside stakeholders.
Very large organisations use ERP systems to manage every aspect of their businesses. But ERP is not just for the big business. Growing SMBs can gain huge rewards from using an ERP system that has been specifically designed for businesses that have outgrown MYOB & Quickbooks. For example, one of the best known ERP vendors, SAP, is now offering a cloud-based Software-as-a-Service (SaaS) platform for upper mid-sized customers, called Business ByDesign. This platform brings much of the functionality of their large ERP systems from the big end of town down to business from around 50 employees and up.
Ideally suited for upper medium-sized businesses and subsidiaries of large corporations, this SaaS covers everything from ERP to CRM, procurement, supply chain management and beyond. These new platforms like Business ByDesign are designed to access business functionality and analytics anytime, anywhere, on almost any mobile device. Additionally SAP use highly secure data centers that are managed, monitored, and maintained by SAP experts.
Business growth is one of the many reasons SMBs break free from the limitations imposed by basic accounting software and seek out a more sophisticated ERP system to manage almost every aspect of their business. As a business grows and you start adding staff, entry-level accounting systems start to slow down and lose performance. Data corruption also becomes a concern as multiple people start trying to access the same record at the same time. For Australian business that have outgrown MYOB & Quickbooks and now find themselves in a medium business and are looking for a platform to last through continued growth, SAP now have the ideal platform made specifically to fit neatly into a medium growing business.
By Rod Taubman, Managing Director Acclimation