Posts in category: Business

As businesses evolve, the need for a robust, adaptable and efficient Enterprise Resource Planning (ERP) system becomes increasingly evident. An ERP system can streamline business operations, improve efficiency and provide valuable insights to drive growth. However, selecting the right ERP solution can be more complicated than you might think.

Choosing an ERP solution is a critical decision that goes beyond the immediate benefits and directly impacts the long-term success and growth of your organisation. Whether you’re the owner of a thriving enterprise or a growing startup, it’s key to implement an ERP system that aligns perfectly with your unique needs and goals.

Below, we have created a list of useful tips to help you navigate this decision and select the right ERP system that can support your business for years to come.

Define Your Business Needs

Before you start exploring the world of ERP systems, it’s crucial to have a clear understanding of your business’s unique challenges and requirements. Every business is different and your needs should guide your ERP decision. Start by assessing your business processes, workflows, bottlenecks and pain points. Identify areas where an ERP system can make a difference, such as inventory management, order processing or financial reporting.

Understanding your business’s specific challenges will help you choose an ERP solution that addresses your most critical needs. Even if you’re not sure what you’re looking for in a system, you still need to define your business requirements. All good ERP providers will enquire about your business needs before recommending a system for your business.

System Scalability

Scalability is a key factor whenever you’re choosing an ERP system. As your business grows and you open new locations or expand into new markets, your ERP system should be able to grow with you. It’s essential to select an ERP system that can adapt to your changing business needs and accommodate future growth, handling things like local tax, language and legislation changes with ease.

Take some time to think about where you see your business in the next few years. Will you be adding more products or services, or operating overseas? Your ERP system should be flexible enough to support your growth without requiring a complete overhaul. This can provide peace of mind that your ERP software won’t cause problems when you’re most reliant on it.

Integration Capabilities

In today’s digital age, businesses rely on various software applications. If you’re not planning to replace all of your existing software, it’s vital to ensure you choose an ERP system that can seamlessly integrate with other applications. Complete integration can help you avoid common problems with inaccurate manual data entry or consolidation of reports across departments, enhancing overall operational efficiency.

Consider the various software tools your business already uses, such as CRM software, e-commerce platforms or accounting software. Ensure that the ERP system you select can either replace these applications or integrate with them to not just streamline your day-to-day workflow but also improve data accuracy moving forward.

Budget Considerations

Budget plays a significant role in the ERP selection process. It’s essential to have a clear understanding of both the upfront cost and the total cost of ownership, including ERP implementation, support and ongoing maintenance. Carefully evaluate your budget and financial resources to determine what you can afford.

Don’t overlook the long-term Return on Investment (ROI) associated with ERP systems though. While it’s crucial to stay within your predetermined budget, investing in the right ERP system can lead to significant cost savings over time. Having access to real-time data enables you to quickly adapt to changing market conditions and increase profitability, for instance, enabling you to spend more on your ERP software over time.

User-Friendly Interface

An intuitive and user-friendly ERP interface is essential for a smooth transition and faster adoption within your organisation. A straightforward ERP system can enhance employee productivity across departments by streamlining, simplifying and managing complex processes without system headaches.

During the ERP selection process, request demos or trial versions of systems to assess their user platforms. Involve key employees from different departments in the evaluation process and gather their feedback on ease of use. A user-friendly interface can make a significant difference in how quickly your team gets to grips with the new ERP system, enabling them to design dashboards in no time without any technical skills.

Customisation and Flexibility

Different businesses have varying needs, and some may require more customisation options than others. When selecting an ERP system, consider your business’s unique processes and what you require in order to improve day-to-day efficiency. Look for a system that can be tailored to your specific requirements, whether you want to automate tasks or improve reporting.

System customisation will enable you to optimise operations and adapt to the unique challenges you face. A highly flexible ERP system will not only align with your current business processes but also be adaptable to meet your future needs, regardless of what they may be. This single system can revolutionise how your business operates.

Choosing an ERP System

There is no denying that choosing the right ERP system is a strategic decision that can have a direct impact on your business’s success. By following these tips, you will be well-equipped to make an informed choice. An ERP system that aligns with your unique needs and goals can enhance efficiency, streamline operations and position your business for future growth.

If you need some assistance with ERP software selection, our team at Noledge is here to help. We have many years of experience delivering creative and long-lasting ERP solutions to organisations throughout Ireland, and our expert team can answer any questions you may have. We understand the importance of choosing the right ERP system and we can provide you with the sound advice you need, guiding you through every step of your ERP journey.

Each ERP project we work on is a partnership and we genuinely want the best for your business. Contact us today to find out more about our personal approach to doing business.

Choosing the right Enterprise Resource Planning (ERP) software provider is a crucial decision for businesses of all sizes and industries. It’s a choice that can significantly impact your business processes, day-to-day efficiency and overall success. With several different providers to choose from, all promising a seamless service, it can be difficult to know who you should trust to support your business with your ERP project.

However, by understanding the essential factors and taking a strategic approach to narrow down the market, you can ensure you’re making the right choice for your business and your specific circumstances. To provide some general guidance, below we have listed some key factors to consider when choosing an ERP software provider.

Industry Expertise

It may not be the first thing that comes to mind, but industry experience should play a key role in the ERP provider selection process. Not only should a provider have in-depth knowledge of the features and benefits of ERP products, but they also need to have an understanding of your industry. It’s crucial to recognise that ERP systems are far from ‘one-size-fits-all’ and each industry has its own set of distinct challenges that need to be addressed through the implementation of new software.

Whether you work in retail or manufacturing, choosing an ERP provider with industry-specific knowledge is hugely beneficial as they are better equipped to understand your demands. Any previous experiences and successful projects they’ve undertaken will enable them to create customised solutions that effectively address your specific problems. When a provider can grasp your business’s unique challenges, your ERP system will be more than just a technology solution. It will become a strategic tool that empowers your business to thrive in your industry.

Size Matters

The size of an ERP provider can significantly influence your selection process. Just because you run a large business, doesn’t necessarily mean you need to work with a large ERP provider. You may find that a smaller provider can still meet your ERP project requirements, but deliver a more personalised service and give your project the attention it deserves.

Generally speaking, large ERP providers offer comprehensive solutions and development capabilities, making them appealing to businesses with complex needs and global operations. However, smaller ERP providers often provide a more tailored approach, which can be beneficial for businesses with specific requirements or limited budgets. It’s essential to ensure an ERP provider has the time and resources to help you reach your business goals.

Reputation and References

When you’re assessing ERP software providers, their reputation and references are invaluable. In addition to reading reviews and seeking references from current clients, it’s essential to delve deeper into a provider’s track record of successful implementations. A reputable ERP provider not only has positive testimonials but also boasts a consistent history of delivering reliable solutions to businesses and becoming long-term partners.

By thoroughly researching their reputation, you can gain insights into how a provider has addressed challenges, provided ongoing support and helped businesses like yours with their ERP systems. This due diligence is a critical step in making an informed decision that will impact your business’s operations and success in the long term. You should be confident in your decision that you are going to be working with a trustworthy provider.

Support and Training

Support and training are pivotal aspects of any successful ERP implementation. As you consider ERP providers, it’s essential to prioritise those who offer robust support and training services throughout an ERP project. Don’t hesitate to ask questions about the level of support available, this encompasses responsiveness to troubleshooting, commitment to providing timely updates and readiness to offer assistance when needed.

Adequate training is equally crucial, as it equips your employees with the knowledge and skills required to harness the full capabilities of the ERP system. A provider that offers comprehensive support and training demonstrates a commitment to your long-term success, ensuring that your ERP system remains a valuable asset that continues to evolve with your business needs.

Total Cost of Ownership

Like any other software solution, your budget is something you need to consider when selecting an ERP system as well as an ERP provider. Total Cost of Ownership (TCO) extends beyond the initial purchase price and factors in the costs associated with implementation, training, ongoing maintenance and support. This complete overview of expenses ensures you have a clear understanding of the long-term financial implications of your choice.

By accounting for the TCO, you can make a more informed decision that aligns with your budgetary constraints and business objectives for the foreseeable future. The TCO helps you avoid unexpected financial challenges down the road.

Choosing an ERP Software Provider

All in all, choosing the right ERP software provider is a significant decision that requires careful consideration. By taking the time to evaluate the points above and conduct thorough research, you can make an informed choice that sets your business up for success in the long run. Remember that investing in the right ERP system can lead to improved efficiency, streamlined processes and ultimately, a more competitive and profitable business.

If you’re trying to find an ERP software provider you can trust to design, implement and project manage your new ERP system, don’t hesitate to contact our team at Noledge. We’re leading Sage and NetSuite Solution Providers, and our highly skilled team will happily discuss your business requirements in more detail. We pride ourselves on taking the time to get to know potential customers and we will work closely with you from the outset.

Unlike other ERP software providers, we care about bringing real value to our customers and we’re in it for the long haul, not the “quick win”. We look forward to hearing from you.

Accurate planning and budgeting are critical components for the long-term success of any business, regardless of size or industry sector. With advancements in technology, organisations now have the opportunity to move beyond traditional methods of budgeting and embrace more sophisticated tools. Replacing your spreadsheets with Sage Intacct can revolutionise how you budget and plan ahead for the future.

Below we have explored this modern accounting software in more detail, highlighting how it can enhance budgeting capabilities and streamline processes for finance departments.

How Accurate Budgeting Supports Business Success

Budgeting isn’t just an exercise that financial teams undertake at the beginning of the fiscal year, it’s an ongoing activity that’s the backbone of decision-making and financial management. Accurate budgeting allows organisations to allocate resources where they are most needed, which can boost efficiency and drive growth.

Some of the key benefits of precise budgeting include: 

• Strategic Alignment – Accurate budgeting aligns financial resources with organisational goals, ensuring that every euro spent contributes to achieving the strategic vision.
  
  
• Risk Management – Predicting revenue and costs allows companies to set aside a contingency fund, helping mitigate risks and uncertainties in the future.
  
  
• Cash Flow Optimisation – Well-planned budgets help to maintain optimal cash flow levels, ensuring that a business can meet all its obligations.
  
  
• Performance Tracking – Comprehensive budgets become a baseline for evaluating actual performance against expected outcomes. This allows for real-time adjustments, supporting the changing needs of a business.

Spreadsheets v Sage Intacct

While spreadsheets have been the go-to tool for budgeting and planning for many years, they come with several challenges. From limited data integration and manual data entry errors to scalability issues, spreadsheets aren’t always the best option for day-to-day budgets.

For businesses looking to enhance their budgeting and planning capabilities, Sage Intacct accounting software is an effective alternative to spreadsheets for many financial tasks. This comprehensive solution can meet all of your financial management needs and reduce your reliance on inflexible, traditional tools like spreadsheets.

• Automation

Automation is one of Sage Intacct’s standout features that provides tangible benefits for budgeting and planning. By automating complex or repetitive tasks, you can remove the need for manual data entry, freeing up time to focus on data analysis and strategic planning. Automation can reduce the risk of human error too, ensuring you get the accurate insights you need to drive your business forward. Enhancing the efficiency of your finance teams and increasing the reliability of your data will enable you to deliver financial insights much easier.

• Real-Time Data

In today’s fast-paced business world, real-time data access is crucial for making informed decisions. Sage Intacct offers real-time insights to a wide range of departments, allowing collaboration across the entire organisation. This efficient accounting software enables you to make timely adjustments to your budget and strategy too. You can see the whole financial picture, so you can act quickly to seize opportunities or mitigate problems as they arise. This gives you a competitive edge in a saturated industry.

• Scalability

Scalability is a significant factor to consider whenever you’re selecting a budgeting and planning tool for your business. Sage Intacct financial management software is designed to scale with your business, ensuring you don’t outgrow the software or need to make constant adjustments to fit your needs. With multi-currency reporting and additional functionality available, it’s a long-term solution that will serve you well regardless of what the future holds. Not to mention, Sage Intacct integrates with a variety of other applications too.

• Customisation

Sage Intacct offers robust customisation features that allow you to tailor the software to meet your specific business needs. Whether you’re operating a small start-up, a large enterprise or a growing business, you can configure Sage Intacct to align perfectly with your budgeting and planning requirements. This level of customisation provides a more user-friendly experience, ensuring that the tool serves as an extension of your financial team. With features like rolling forecasts and what-if scenario modelling, you can use what’s most beneficial to you.

• Cloud-Based

One of the most compelling features of Sage Intacct accounting software is that it’s cloud-based, offering unparalleled flexibility and accessibility. Regardless of your location, cloud accounting solutions allow you to access your financial data anytime. This level of convenience enables your team to collaborate more effectively and streamlines the decision-making process. You will be able to adjust your budget and planning strategies as and when needed, without being tied to a specific physical location.

• Straightforward Use

One critical factor when choosing a budgeting and planning solution is the ease in which it can be set up and used by finance departments. Sage Intacct offers an intuitive point-and-click setup, allowing your financial team to be up and running in no time. The tours and walkthroughs make the various functionalities easy to use from the get-go too. This means less time spent on training and troubleshooting, so your team can focus on what matters most; strategic financial planning and effective budgeting.

Integrating Sage Intacct 

Ultimately, Sage Intacct provides a comprehensive solution that enhances planning and budgeting processes. By providing automation, accuracy and efficiency, this accounting system can revolutionise how your finance team operates on a day-to-day basis. With its unique benefits tailored to meet the challenges of different industries and business types, it’s a great investment. By integrating Sage Intacct into your operations, you can not only gain a competitive advantage but also position your business for sustainable growth.

If you’d like to learn more about Sage Intacct in Ireland, don’t hesitate to contact our team at Envisage. With the most experienced Sage technical team in-house, we can confidently say we ‘know our stuff’. We have assisted a variety of clients with their accounting and finance system needs and have developed creative solutions to their unique challenges.

You can find out more about our approach on our website and if you have any questions at all about Sage software, we will happily answer these for you.

We’re delighted to be exhibiting at this years ERP Head to Head where we’ll be showcasing Sage Intacct and the benefits of this solution. 

To register, click below and use promo code Envisage20 for a 20% discount: 

The digital age has revolutionised the way businesses operate, but it isn’t always easy to know which type of software can be used to improve efficiency and performance. As an accountant or consultant, you may find yourself in a position where you notice your clients would benefit from upgrading their current accounting applications to something more advanced. However, you might not know what modern software to recommend.

Sage accounting software can benefit businesses of all sizes and it’s worth exploring in more detail, regardless of who your client is, the size of their business or what industry they operate in. Our teams at Envisage and Pimbrook are working together once again to provide advisory services to accountants and consultants so they can match their clients with the best Sage solutions, helping them to overcome the challenges they’re currently facing.

Below we have explored Sage software solutions in more detail and touched on the importance of choosing the right Sage partner to guide you towards the best products for your clients.

An Overview of Sage 50, Sage 200 and Sage Intacct

The Sage product range caters to businesses of various sizes, industries and complexities. While Sage 50 is an ideal fit for small businesses, Sage 200 is often better suited to medium-sized businesses. On the other hand, Sage Intacct is the go-to choice for advanced financial management and accounting needs.

There is always a next step within the Sage product portfolio too. So, clients can start small and move up the range as they scale up and expand their operations. Here is an overview of the Sage software offerings:

• Sage 50

Sage 50 is the ideal product for smaller businesses, giving a complete view of finances and inventory. It includes financial management tools, such as invoicing, billing and inventory management, and can simplify day-to-day operations for accounts departments. With a user-friendly interface, Sage 50 software is also ideal for businesses with in-house bookkeepers or accountants who need to simplify basic processes such as invoicing and financial management along with more complex business accounting tasks. The financial reporting and forecasting capabilities can be tailored to business-specific needs, and will support cash flow management too.

• Sage 200

Sage 200 suits growing, medium-sized businesses and there are two options to choose from; Sage 200 Standard or Sage 200 Professional. This solution can support various business processes and help to manage both customers and suppliers. With detailed reporting and analytics, it has the capability to handle more complex financial structures, and Sage 200 software can be integrated with a host of integrated applications. It’s ideal for driving efficiencies through automation and can simplify day-to-day operations.

For businesses that need a scalable solution, Sage 200 is an excellent choice. It can support more users, transactions, internal departments and warehouses, and can be tailor-made to meet specific needs. 

• Sage Intacct

Sage Intacct is the latest cloud-based Sage accounting software. It’s a powerful financial management solution that’s suited to medium to large organisations. Sage Intacct provides real-time financial and operational insights, and has impressive functionality. With multi-entity and multi-currency support, it’s ideal for businesses operating both globally and locally. Although it offers best-in-class accounting functionality, it has a simple and modern interface making it straightforward to use and can streamline manual processes.

This solution is perfect for organisations that are looking for a modern and agile solution to help accelerate their growth. Sage Intacct is trusted by financial professionals from a range of industries to drive their successes.

The Importance of Choosing the Right Sage Partner

Choosing the right Sage product for a client’s unique needs is just the first step. To truly harness the power of Sage software, it’s crucial to find the best partner. A Sage Partner can help turn complex scenarios into simple solutions.

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• Sage Software Knowledge – An experienced Sage partner will have the skills and knowledge to recommend the right software to transform day-to-day operations. They can support you in your conversations with clients and ensure you’re making the best suggestions. They will stay up-to-date with the world of software, so you don’t have to.
  
  
• Customised Implementation – Every business is unique and a credible partner will ensure that a Sage solution is tailored to your client’s specific needs. They offer efficient and hassle-free implementation services to remove the stress associated with introducing new software. Regardless of how big the project may be, it will be handled by an expert team and support will be provided every step of the way.
  
  
• Software Training – To maximise the benefits of any Sage software, the accounting team needs to know how to use it effectively. A good partner will provide comprehensive training sessions to your clients and their employees, answering any questions to ensure they’re making the most of the available functionalities.

• Ongoing Support – A dependable Sage Partner won’t just assist with the initial setup but they will provide ongoing support, ensuring smooth operations and timely updates. They can make using Sage software solutions an enjoyable experience and will be on hand to help whenever may be required. They can provide advice as a business grows too, ensuring their software remains suitable for their everyday needs.

Searching for a Sage Partner in Ireland?

Ultimately, Sage offers a spectrum of products that are designed to meet diverse business needs. By understanding the basics about each product and partnering with a reputable Sage Partner, accountants and consultants can equip their clients with the tools they need for success. Should you require any guidance in selecting the best Sage solutions for your clients, our team at Envisage and our partner Pimbrook is here to assist you.

Envisage and Pimbrook have worked in collaboration for several years to ensure that clients’ are accurately matched to the right Sage products. Our expert Sage consultants work with like-minded accountants and consultants to achieve the common goal of delivering the best possible solutions for their clients. You can rely on both Envisage and Pimbrook to deliver a high-quality project, and ensure that your clients have a positive experience throughout.

Webinar

 On this interactive panel-style webinar, you’ll learn:

• Advice and Best Practices for Advising Clients on Finance/ERP systems
• Use Case Scenarios
• The Distinguishing Features of the Sage Product Range
  
  

Sign Up for Webinar

In today’s digital world, technological breakthroughs are becoming more common. However, nothing has revolutionised day-to-day life quite as much as Artificial Intelligence. Computers having the ability to emulate human thoughts can seem concerning at first and while there are challenges to overcome, the benefits are substantial. When AI is used responsibly, it can transform the way finance departments operate.

AI has been in the media almost daily over the past few months and as the public becomes more aware of the capabilities of AI, it’s no surprise that CFOs and finance leaders are keen to reap the benefits of this technology. There are several ways forward-thinking finance teams can leverage the power of AI technology for finance departments. Various elements of the accounting process could be improved with the right AI tools, significantly enhancing productivity and output.

The continuous growth of AI means that it can now add value to businesses in ways that were previously unimaginable. From automating monotonous tasks and streamlining operations to generating reports and increasing the reliability of data, AI could change financial management for businesses of all sizes. Below we have further explored how the latest advancements in AI technology can benefit finance departments and how accounting software like Sage Intacct is already making use of Artificial Intelligence.

Automating Routine Tasks

There is an abundance of repetitive and time-consuming tasks that are essential to financial processes. AI can take over routine responsibilities and specific tasks from finance teams, such as data entry and invoice processing, saving hours of manual work and freeing up time for other more strategic tasks. When routine jobs are automated, finance experts can focus on future planning and decision-making.

By replacing manual tasks with automated solutions, AI can also help to reduce the risk of human error. Your data will instantly become more reliable when it’s not manually inputted, for example, and you can reap the benefits of accuracy. Not to mention, AI can complete repetitive tasks much quicker than finance teams. This can help to prevent common bottlenecks and streamline operations.

Decision-Making with Data Analytics

Data is essential in the financial world. AI can process vast amounts of real-time information in a matter of seconds, providing insights and trends that humans might overlook. You can trust that AI won’t miss patterns that could be key to decision-making and you will have all of the financial reports you need to make informed decisions about the future of the business. When it comes to responding to market changes, quick and reliable data is particularly beneficial.

The ability to analyse large amounts of data accurately enables finance departments to make more informed decisions, whether they relate to financial planning or investment strategies. In addition to analysing past data, AI can even use existing information to predict the future. By leveraging predictive analytics, finance professionals can anticipate things like market trends and adapt their strategies accordingly.

Risk Management

With AI, risk management reaches a new level of accuracy. This core responsibility of finance departments is made much more straightforward and you can trust that nothing will be overlooked. AI can analyse historical data and various risk factors to predict potential outcomes and highlight future risks that businesses need to consider. AI can be continually refined as more data becomes available, leading to increasingly precise risk assessments.

AI technology can even be used for forecasting and it has more capabilities than humans. By analysing things such as customer-related data, AI can predict future behaviours and enable you to plan accordingly to ensure future success. Through every stage of the supply chain, AI can help to reduce risks and ensure business continuity, resulting in improved customer satisfaction and profitability.

Compliance and Regulation

Regulatory compliance in the finance department is often a complex and labour-intensive process. AI can simplify this task by automatically monitoring transactions and other activities to ensure that they comply with relevant laws and regulations. This can reduce the resources required for compliance management and enable finance teams to focus on other important aspects of their job roles. Not to mention, it also minimises the chance of human error.

It’s possible to use AI to stay on top of industry regulation changes as well. You can be notified of changes that will impact business operations and even use AI to summarise important documents and highlight key information finance departments need to be aware of. Complying with all legal requirements couldn’t be easier with AI and the right technology can prevent the problems associated with non-compliance.

Accounting Software and AI Technology 

Lots of accounting software already uses AI technology to improve functionality for users, you just might not know about it. Sage Intacct, for example, utilises AI technology in several ways that can benefit finance departments. Knowing more about the accounting capabilities of your software and understanding how AI is used can help you to make the most of your systems and improve the accounting process as a whole.

We have recently explored some of the main ways Sage Intacct delivers AI benefits to users. However, there is much more to Sage Intacct and its functionality can significantly improve day-to-day accounting tasks. Keep an eye on our blog page for more information about AI and Machine Learning, and how technology is not just revolutionising finance departments, but business operations across all industry sectors.

Speak to an Expert About Sage Intacct in Ireland

If you’ve been considering updating your accounting software to streamline operations for finance teams, we can answer any questions you may have about Sage Intacct. At Envisage, we work in partnership with our clients to help them find the best solutions to their unique challenges. We specialise in Sage Intacct product ranges and we have a highly skilled and creative development team.

When you contact us about Sage Intacct, not only can we help you to determine whether it’s the right solution for you, but we can assist you with the implementation of this software. Our experts can make the process of updating your current software and implementing Sage Intacct as straightforward as possible. We are committed to providing an efficient end-to-end service and we would love to have a no-obligation chat with you.

To learn more about the benefits that Sage Intacct can bring to your business, download a copy of our brochure: 

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Overcoming the Cash/Stock Dilemma With Sage 200

As an Award-Winning Sage Partner and expert in the field of distribution, we thought we’d share our thoughts on the cash/stock dilemma, which is something that many warehouse and distribution businesses struggle with, and this is often because they don’t have the right software to manage all the requirements they have. Critically, it’s about the left hand knowing what the right hand is doing. It’s about keeping all departments in tune with each other, so that the warning signs appear before reaching full impact.

 We’ve summarized 7 considerations for this cash/stock dilemma below. If you’d like to read more on this topic, why not download our Cash Stock Dilemma e-book and learn more about how Sage 200 can help address these critical challenges?

Inventory Levels and Forecasting

Balancing stock levels can be tricky. On the one hand, overstocking means you’ll be tying up cash in stock that doesn’t turn quickly and it can prevent you from investing this cash elsewhere. On the other hand, understocking means you may lose business due to insufficient stock levels and miss out on future orders due to customers going elsewhere. Understocking can result in you having to pay higher prices to source from an alternative supplier to fulfil orders too.

Courier Tracking

When distributors don’t have all the dots joined up with their couriers, it can lead to time-consuming, messy and inefficient processes. It also makes it more difficult to keep customers up-to-date with expected delivery information which can result in dissatisfaction and cause customers to take their business elsewhere, impacting your bottom line. The last mile delivery optimisation is crucial and the more integrated your courier process is, the more efficient your operation will be with a noticeable reduction in customer queries regarding delivery times and dates.

Pre-Allocations and Prioritisation

Many distributors will create purchase orders and then when the stock comes in, their system will allocate items based on the sales order date. However, this isn’t always the most efficient way to do things and it can cause problems. Getting this bit right and having a pre-allocation system in place can help keep your bottom line healthy.

Container Management

The uncertainty that comes from not being able to track containers, compare provisional dates with actual dates and automatically update all purchase orders, will have a direct impact on the customer experience.

Procurement

From our experience, many distribution organisations operate ad-hoc/semi-automated procurement processes. For example, items can be purchased without proper item codes (e.g. miscellaneous), goods can come in be placed in the wrong location such as an aisle, shelf, bin or even warehouse, and inspections that should be carried out systematically can be somewhat hit-and-miss. Purchase authorisation rules can often be loose or sometimes even too rigid and cumbersome resulting in productivity losses. Continuing to operate like this can result in many problems.

As procurement is a critical piece of the of the distribution/supply chain puzzle, it’s important that this it’s managed correctly.

Sales Orders

Similar to the procurement process, managing the sales order process is critical. The secret is having a process that is both seamless and efficient, where the sales/administrative operative has all the relevant information right in front of them. Mistakes made at the sales order entry stage will be carried through to procurement, despatch, finance and customer service, so a reduction in errors will have a positive impact on the bottom line.

It’s about having access to the right data at the right time. Simple things like accessing historical orders, copy lines, view back orders etc, can cut down on unproductive time and will reduce the margin for error.

Warehouse Management

The right software can make it easy for warehouse managers to manage everything from picking and despatching orders to writing off damaged stock and transferring stock in the warehouse. The tools available to them will make their day-to-day responsibilities much easier and they can ensure that nothing important is being overlooked. Having fully integrated processes and access to real-time stock updates can enable quicker and more accurate stock picking, resulting in fewer returns, as well as quicker and more accurate stock receipting, resulting in better stock accuracy.

The right system to fit your distribution business

We’d love to share our e-book with you on this very topic. In this e-book, we discuss these challenges as well as ways that our Sage 200 Warehouse Management system can help overcome them.

We pride ourselves on helping customers by recommending software that makes it easier for them to do business.

Spreadsheets have been a go-to tool for businesses when it comes to organising and analysing data for decades. Many continue to use spreadsheets for financial reporting as well as for monitoring various operational metrics. However, spreadsheets aren’t necessarily the best option available for data analysis now and there are several modern software solutions available that are specifically designed to streamline the reporting process.

From small start-ups to large multinational corporations, companies of all sizes can benefit from updating their systems and using smart accounting software, like Sage Intacct. Although many are currently reliant on spreadsheets, the dashboards and KPIs (Key Performance Indicators) within Sage Intacct can transform the reporting process. As your operations grow and data becomes more complex, there are several limitations to using spreadsheets and now is the perfect time to introduce Sage Intacct into your reporting process.

Below we have explored how dashboards and KPIs can be beneficial when you’re reporting and why they’re a preferred choice to spreadsheets for lots of growing companies.

How Dashboards and KPIs can Benefit Reporting  

When compared to using spreadsheets and manually gathering, inputting and analysing data, using dashboards and KPIs can be hugely beneficial. Sage Intacct provides you with accurate data at your fingertips and the reporting capabilities can help you to ensure you’re providing the right people with the best insights at the right time. Some of the key benefits of using detailed dashboards and KPIs include;

• Real-time data: Accounting software like Sage Intacct will provide you with real-time data that is automatically updated. You can select KPIs to track on your dashboards and this will make it easy to analyse business performance. Removing the need for manual data entry and updating can save time and ensure you always have the up-to-date data you need to make business decisions.
  
  
• Visual representation – The dashboards in Sage Intacct will provide you with a visual representation of data and you can clearly see the information that matters most. It will be much easier to spot trends, flag exceptions and identify patterns when you have report visualisation. In contrast, when data is spread across different spreadsheets, it can be very difficult to turn it into useful insights.
  
  
• Interactivity – Modern, online accounting software is designed to be interactive and you can tailor the reporting experience to your specific needs. Using dashboards and KPIs, you will have full financial transparency and you can drill down into data to get a much more detailed view of performance. This will enable you to identify the root cause of any issues and make data-driven decisions.
  
  
• Collaboration – The customisable dashboards can be shared with different departments and stakeholders in real time through email or via the cloud. This ensures that everyone is on the same page and it enables collaboration. You have full control over who sees real-time reports and period-end views, and you won’t have to manually consolidate or share data like you do with spreadsheets.
  
  
• Ease of use – Sage Intacct is designed to be straightforward to use. Its simple and modern interface will enable the whole team to access the data they need, whenever they need it. There will be no time-consuming and error-prone spreadsheet formulas and functions to worry about, and you won’t require advanced skills or knowledge to make the most of the Sage Intacct functionality.

While spreadsheets still have their place in business, they are no longer the best option available for reporting. Keeping finances in good health starts with using dashboards and KPIs, which will provide you with the real-time visibility you need and will streamline your reporting process. Not only can accounting software save you time and enable you to use your resources more efficiently, but it can improve the accuracy of data reporting and provide you with a competitive edge.

Using Sage Intacct to Improve Reporting Capabilities

Sage Intacct is user-friendly, cloud-based accounting software that supports the needs of businesses in different industries. It’s a highly flexible solution that can be scaled up as your business grows and it provides impressive reporting capabilities. Sage Intacct offers a variety of dashboard features to help businesses track their financial performance, including;

• Customisable reports – This accounting software provides a range of standard reports that can be customised to suit your current business needs. Whether you have multiple locations or you operate in multiple currencies, it will be easy for you to create your own reports using the Report Writer tool.

• Real-time data – As mentioned above, Sage Intacct provides real-time data that can be accessed from anywhere at any time. It enables you to keep your finger on the pulse of your growing business and make informed decisions quickly. Having a flow of up-to-date data across your organisation can be very useful.

• Interactive dashboards – This cloud-based solution offers interactive dashboards that provide a visual representation of your financial data. The dashboards allow you to easily track the performance of your business and you can customise them to display the metrics that matter most, ensuring nothing important is overlooked.

• Drill-down capabilities – Sage Intacct enables you to drill down into 24/7 data to get a more detailed view of your financials. Being able to identify trends and spot patterns will help you to make informed decisions to drive your success. Having a full audit trail and being able to highlight exceptions is beneficial too.

• Connected solution – Not only can Sage Intacct be beneficial for accountants and bookkeepers, but it opens up a world of insights to all key stakeholders. It allows users to collaborate on reports and dashboards, making it easy to share information across teams. Not to mention, it also connects with other industry-specific solutions. 

Try Sage Intacct Accounting Software in Ireland

If you’re currently using spreadsheets for reporting, you should look into Sage Intacct in more detail. This financial management solution can help drive your internal efficiencies and it can be useful for both small businesses and multinational corporations. If you have any questions about how Sage Intacct can help your business, don’t hesitate to contact our team at Envisage today. We specialise in modern accounting software in Ireland and we will happily discuss the benefits of upgrading to Sage Intacct with you in more detail.

Here at Envisage, we take the time to truly understand our customer’s unique needs and we work in partnership with them to find the best solutions to their problems. We pride ourselves on being open and honest from the outset, and we genuinely care about the outcome of the projects we work on. Building and maintaining relationships with our customers is important to us and we look forward to being of assistance to you.

SMB Distributors in 2023 – Challenging times

SMB distribution businesses are an essential part of the business landscape, providing an extensive range of products and services to organisations in the small and medium business (SMB) sector. Distributors are a reliable and cost-effective resource for growing businesses, helping them to reduce their costs and increase their efficiency whilst meeting the needs of their customers and delivering a reliable service.

Although they play such a key role in the success of small and medium businesses, distributors face many challenges to remain successful and competitive. Both external and internal challenges impact the day-to-day operations of SMB distributors, and being aware of these common challenges can help them to better prepare and manage their business.

Below we have explored just a few of the most common external and internal challenges SMB distributors are facing in 2023. For a more detailed review of these challenges, download our free e-book on this topic.

When it comes to external factors, there are a multitude of challenges that can crop up out of the blue. We’ve seen how new threats can come stem from nowhere without much notice. We’ve had a few years of global challenges with knock on affects for distributors from economic downturns to energy crisis to technological advancements, and unfortunately, things that are outside of SMB distributors’ control can have a big impact on their bottom line.

E-Commerce

Changes in the way consumers shop are having an impact on SMB distribution businesses. Advancements in technology and the increase in e-commerce websites gives manufacturers the option to ship directly to consumers, sometimes even taking the distributors and retailers completely out of the equation. Changes in consumer demand can also impact SMB distributors. We’ve also seen shifts in customer demands over the past few years. Remaining agile and relevant is fundamental for any distribution business.

Knowledge of your Consumer 

There was a time when businesses knew their competitors inside out. They knew everything about them and knew how to compete against them. Today, the landscape moves so quickly, that new competitors can spring out of anywhere. Competitors don’t necessarily need to be built on the same model as more established businesses, in fact newer competitors are more than likely built with technology and agility at its core. New entrants will prompt distributors to raise their game and force, with less focus on price and more focus on customer service, reputation and availability of product.

Internal Challenges

From an internal perspective, challenges can present themselves from many different angles including staffing (shortages and skill-set alignment) and systems and processes. While we can’t control all the external challenges, we do have control over the internal challenges such as cash flow and profitability.

KPI’s

Having up-to-date insights and clearly being able to see what’s happening with your finances is paramount. Yet, many SMB distributors don’t have sufficient data to run their business.

Planning and Forecasting

Data is a hot topic now. It’s essentially about knowing instantly what’s going on in your business, removing the guesswork. It’s about forecasting and planning with as much precision as possible. It’s about knowing what to order and when (based on accurate data) to avoid cash flow or customer service headaches. It’s about spotting potential issues and mitigating these issues before they become a real problem.

Cash Flow

Miscalculation of the cost of goods sold is also a big issue for distribution businesses. This can lead to overpayment of taxes and shrinking profitability, and having a good overview of cash flow is imperative. Some distribution businesses are not able to determine profit by item either, which is crucial to ongoing success. And finally, the practice of ad-hoc pricing is far too common, putting margins at risk, where price bands or customer-specific pricing isn’t being set.

Overcoming Challenges with Sage Small Business Software

Environmental concerns, cybersecurity risks, regulatory requirements and technology are all high up on the agenda for many distribution companies. Navigating through these challenges requires flexibility, accurate data and a proactive approach, helping to turn these challenges into opportunities.

Here at Envisage, Award Winning Sage Partner with expertise in Sage 200, we help businesses implement intelligent, powerful and game-changing Sage software solutions, and we can help you to overcome the challenges that your distribution business may be facing. Should you have any questions about how Sage 200 software can propel your distribution business to the next level, contact our experts.

Sage 200

This is a topic that I am passionate about and I thought now would be the perfect time to write this article. With so much hype surrounding AI these days, it’s both mind-blowing and scary. Only a short while ago, we were amazed by the power and capabilities of AI. As time has passed, its boundaries have become much more blurred. Where can it go from here? What are the societal implications of AI? The other factor that I find both exciting and scary is the speed at which technology is moving. Have humans created intelligent beings with potential to outwit and potentially deceive humans? How is that even possible? Regardless of where you stand on this topic, it’s fascinating to see.

Wearing my technical director hat now, our business is all about cost and time savings, delivering automation and technology solutions to make it easier for our customers to do business. So, I thought it would be a good place to start by exploring the practical uses for both AI and Machine Learning in business. So, before we get started, let’s do a quick re-cap on AI and Machine Learning definitions:

AI – Artificial intelligence refers to the general ability of computers to emulate human thought and perform tasks in real-world environments. 

Machine Learning – Machine learning aims to teach a machine how to perform a specific task and provide accurate results by identifying patterns.

The Finance Department

Finance Leaders don’t want to be behind the curve. They want to be in the know at all times across all departments. They want their teams to be highly productive with technology and automation stepping in to take away the tedious, monotonous activities.

The Finance Team wants proactive data to be sent their way. They want to use technology to present emerging opportunities and risks to them on topics that they may not ever had on their radar.

I’ll bring in Machine Learning at this point, where machines can be taught to carry out a specific task and provide accurate results based on identifying patterns. Running a business with an “always on”, “ready to report at any moment”, strategy is what most finance leaders aspire to. However, this is only valuable if the data is accurate to begin with. Machine learning can be hugely beneficial in spotting anomalies and inconsistencies within the data based on previous patterns.

The Whole Business

But it doesn’t stop there. The scope for using AI across the business is enormous. It will present accurate, real-time data, at any point. So, cloud is key. I’ve mentioned data accuracy and detection of anomalies, but it goes much deeper into complete process automation, security monitoring, seamless integrations between different applications and flexible workspaces and user interfaces that adapt based on user activity and preferences.

The Value of Data

Many organisations struggle with data analytics as in they don’t have any or they have but they are not using it in a meaningful way. Some organisations are highly advanced in this area and are tapping into a wealth of data to help understand their opportunities and risks. I think it would be fair to say, however that the vast majority of businesses don’t have these visual insights to help guide them along the right strategic path.

Guesswork, fingers in the air and spreadsheets will just not cut it. Competitors are banging on doors to let them in, to let them do business with your customers. The power of your data should not be underestimated. It just needs to be harnessed and leveraged to help plot your strategic direction as well as managing the day-to-day with a critical eye.

Sage Intacct

I’m going to explore 4 key areas where Sage Intacct delivers AI benefits to its users:

1. General Ledger

The concept of having a continuous close means that the data in your GL is open for business at any time of the day or night. The GL is the heart of your financial system and being able to tap into your data at this level means that you know exactly what’s going on. Powered by AI and automation, the intelligent GL allows you to post and report transactions immediately, share financials securely with specific people and reduces the reliance to manipulate data externally.

Manual data entry is reduced while accuracy is improved, just by simplifying and automating core tasks within your finance department and beyond.

2. Detection of Anomalies

With manual data processing comes mistakes, despite all the best intentions in the world. They are so-called “Human Errors”. So, what if AI gave us a helping hand to stop us in our tracks should it detect something out of the ordinary?

Sage Intacct’s GL Outlier Detection is magic. It leverages the power of AI to scan thousands of transactions in minutes. It will pick up any discrepancies and will flag any transactions that need to be reviewed. The GL Outlier Detection has built-in machine learning capabilities, so it grows to understand your business and its patterns. The system can be set up with parameters to set to tell the system what transactions qualify as an outlier.

The GL Outlier Detection is critical, not just as a time saver but for flagging serious anomalies such as fraudulent activities.

3. A Picture Paints a Thousand Words

Nice, easy to see, graphical data representations that sit on your dashboard, leave the humble spreadsheet for dust. You may ask… Couldn’t you just “pretty up” your spreadsheets to give the same result? No and this is key. It’s not just about the pictures, it’s about the collation of the data to deliver those nice graphs and charts. How long would it take to compile vast amounts of data and then start to analyse trends, patterns and correlations using spreadsheets? This obviously depends on your spreadsheet skills, but clearly it will need time and effort to get this information.

Sage Intacct has an Interactive Visual Explorer, which builds visual data representations of your data. In seconds, you can have comparative data, showing trends, patterns and correlations. You have in the region of 200 pre-built visuals, plus you can build your own.

Here is a very simple example of what can be achieved. Let’s say you want to view your actual revenue, month by month. Using Sage Intacct’s Interactive Visual Explorer, you will get a prediction of next month’s revenue based on the analysis of past data and patterns. This is just a simplistic example, but my intention here is to get you thinking about the potential power of this tool.

4. Time Capture

This is a real game-changer for organisations that rely on capturing timesheets for projects or for other reasons. With Sage Intelligent Time, the experience for users will be slick and efficient and for the Finance Team, the entire process will be visual and seamless. Billing delays will be confined to the history books, month end closing will just happen, teams will be freed up from monotonous and laborious tasks and the entire system will become much more efficient.

I’ve focused on these four topics, but there is still so much more to discuss including AP Automation and Contract Renewals. I’ll look forward to writing on these topics later this summer, so stay tuned.