When Accounting Software is not enough
Running your company for a long time with the MYOB or a product like it to assist your accounting work and report the productive of your company’s performance. So what’s wrong with your business? It takes too long to get a picture of how your business is performing and you are flooded with pending orders and notifications.
You start to worry: “Am I going the wrong direction of managing my business?” Slow down, there’s nothing wrong. Your business is going just fine. The good news is that your business is growing. However, so are your transactions volumes, process complexity and your information reporting needs. Your business can no longer be reduced to a set of ledgers or independent accounting transactions. Your business is comprised of increasingly complicated, end to end business processes such as procedure-to-pay, order-to-cash, forecast-to-stock and record-to-report. You need ERP software that supports these processes and provides timely, actionable information regarding business performance.
Then you might think: “But my business is not big, I don’t have IT people to take care of it and I have no budget for that software.” Calm down. You have reached a certain stage of growing and complexity that a solution like ERP can help you to robust and better manage your business. Think big and grow big.
Now the thing you need to do is looking for an ERP provider. But which vendor is the best for you? Will it be a branded one or a local one? Now it’s time you ask your business. A perfect match is not necessarily something famous. The key point is whether it meets all the requirements of your company. Select the vendor whose product has the core modules you need to run your business. Do you need manufacturing support? Do you need lot traceability?
Next, look for features such as multi currency support, multi entity or warehouse control support. These features you might not need now but you probably will as your business grows in terms of market and size.
Eventually, look for a vendor with overseas offices and partners to help your business to succeed wherever you go.