These insights have been revealed in new SMB research study released today, Transformational Talent: The impact of the Great Resignation on Digital Transformation in APJ’s SMBs’, which explores the impact of the Great Resignation on ���ܲ��ٰ���������’s SMBs and their growth plans.����

Optimism abounds as SMBs move from resilience to focus on growth��

Having managed significant challenges over the past two years, SMBs in Australia are looking beyond a focus on resilience.����

Two-thirds (66%) of Australian SMBs say their organisation is highly or fully resilient in weathering the pandemic’s impact. Not one respondent said they are not resilient at all. That confidence has resulted in a feeling of optimism about their growth prospects.����

That mindset can only be a positive thing for Australia, according to Sofiane Ainine, SMB Segment Lead, 51����Australia.��

“Our small and medium-sized businesses are a bellwether for the wider economy, as the nation’s biggest employer. I firmly believe that when SMBs thrive, economies grow, and Australia prospers”, said Ainine. “By harnessing this optimism and putting it together with great innovation, a commitment to talent, and a strong partner ecosystem we can chart a course to the next decade of SMB success in Australia.”����

The impact of the Great Resignation on SME digital transformation in Australia��

Despite this optimism, businesses now face another challenge – the ‘Great Resignation’. Coined in 2021, the phrase refers to a worldwide trend of millions of employees across the world leaving their jobs.��

SAP’s research found the Great Resignation is real and impacting SMBs in Australia today. Almost half (48%) of respondents agreed that more employees are resigning now compared to just 12 months ago, while 57 percent of SMBs said they are not finding it easy to cope with the impact of the Great Resignation. This is critical, given 94 percent of SMBs say digital transformation is very important to their organisation’s survival over the next year.��

The talent crunch is impacting organisation’s ability to digitally transform their businesses. In fact, lack of skilled talent trails only understanding of available digital solutions as challenges to achieving successful transformation for Australian SMBs, ahead of traditional obstacles like cyber security or lack of budgets.��

“This study reveals how the Great Resignation can be seen as an existential threat to many organisations,” said Mr Ainine. “Digital transformation is a fundamental way SMBs not only build resilience, but how they create agile, innovative paths to growth. But without the right people, any transformation will struggle. Investment in talent must match investment in innovation to ensure SMBs in Australia both survive – and thrive.”��

Investing in talent and training to mitigate the Great Resignation��

SMBs in Australia are investing in their workforce to mitigate the effects of the Great Resignation and to bolster their organisations’ ability to deliver digital transformation.����

Survey respondents said they were focusing on introducing flexible working arrangements (45%) and improving financial incentives (39%) to boost talent retention over the next 12 months. Yet, beyond those strategies, SMBs are also focusing on training. Over a third (36%) of SMEs said they would provide upskilling opportunities to retain key talent in the next 12 months.��

The focus on training can’t come too soon. Over half (55%) of SMBs say upskilling to support digital transformation is urgent, leading to 82 percent of Australian SMBs who will focus on digital training throughout this year.����

“The Great Resignation has often been misconstrued as employees leaving to pursue their purpose. That’s not the whole story,” said Mr Ainine. “Talent requires the right remuneration, flexibility, and a clearly communicated progression journey. Prioritising upskilling and career progression, and supporting it with access to the right technology and partners is proven to be a win-win for employees and for SMBs here in Australia.”��

The full report of Transformational Talent study is available for download .��

The post 84% of Australian SMBs confident about their growth despite workforce volatility, reveals new report commissioned by SAP appeared first on 51����Australia & New Zealand News Center.

SYDNEY, Australia — 5 April, 2022 — (NYSE: SAP) has found Australian companies that foster a more curious culture¹ experience major competitive benefits, including up to twice the levels of employee engagement, and up to three times the turnover growth of organisations with a less curious culture, according to new research released today.

‘Capitalising on Curiosity’, a survey of senior business leaders and employees across Australia, found that Australian leaders who strongly agree that their organisation has a curious culture, saw annual turnover growth of 20.52 per cent on average over the last 12 months; more than three times the six per cent average growth in turnover experienced by those who only somewhat agree.

Business leaders at large organisations² that are very curious report turnover growth of 10.67 per cent, which could deliver additional growth of 2.5 million dollars in annual turnover, based on ABS turnover data for businesses of this size. Medium-sized organisations³ that are very curious could see an extra 1.7 million dollars and small businesses⁴ an additional 550,000 dollars in annual turnover⁵.

More than eight in 10 (82 per cent) of senior business leaders in Australia believe a culture of curiosity is important for their organisation to adapt and grow in a post-COVID world but only four in 10 (44 per cent) strongly agree their organisation has a curious culture. The most common challenges senior business leaders say they would be better equipped to handle with a more curious culture are: employee engagement (41 per cent); being able to adapt to changing market needs (40 per cent); and dealing with staff retention (36 per cent).

Despite the positive link between curiosity and business growth, four out of five Australian employees (82 per cent) say there are barriers to asking questions and being curious in their organisation. More than eight in ten (85 per cent) of senior business leaders across the country feel the same, admitting that talk about encouraging curiosity is not always supported by action.

Dr Amantha Imber, organisational psychologist and founder of behavioural science consultancy , said: “Creating and nurturing a culture of curiosity in an organisation takes time, but ultimately it will strengthen your ability to be agile, adapt and innovate. At a time when businesses are experiencing more uncertainty from the pandemic, fostering a curious culture can be hard but it’s essential to build resilience and drive growth.”

Karen Twitchett, Director of Workforce and Technology at Northern Beaches Council said: “Building curiosity in your organisation is like building a muscle that helps to keep you fit through all kinds of challenges. We were able to flex our curiosity muscle in real-time during the recent floods. We provided the time, space and opportunity for our staff to engage with people in affected areas to proactively identify issues and collect data that will ultimately improve Council’s service offering to the community during extreme weather events in the future.”

Curiosity to attract and retain talent

In a market where the battle for talent has never been tougher, seven out of 10 Australian employees (72 per cent) want to work for a curious organisation, and more than half (52 per cent) would leave their current job for a similar role in a more curious organisation.

While employees are less inclined than leaders to categorise their organisation as having a curious culture, (67 per cent versus 89 per cent), the research found clear links between curious organisations and employee satisfaction.

Those employees who believe they work for an organisation with a curious culture are almost twice as likely to say they are satisfied in their current role (81 per cent compared to 44 per cent) and feel engaged at work (83 per cent compared to 42 per cent), than those who didn’t.

Battling fatigue in a world and workplace that is changing rapidly is also a factor, particularly in larger organisations, with one in three (32 per cent) employees from large enterprises saying employee burnout is a barrier to curiosity.

Curiosity essential to data intelligence

The research found that employees in more curious companies are better equipped to answer, and more capable of answering questions, using data than those who say their organisation is not curious.

Employees who say their organisation is curious are twice as likely to say they are empowered and encouraged to use data to answer questions than those who say their organisation is not curious (82 per cent compared to 40 per cent). They are also twice as likely say that their organisation provides the data and tools for them to do so (82 per cent compared to 40 per cent) and 1.5 times more likely to say they make good use of data and analysis tools (81 per cent compared to 55 per cent).

Business leaders who feel most strongly that their organisation has a curious culture are three times more likely to strongly believe their employees have the necessary skills to answer questions from organisational data (73 per cent compared to 25 per cent), than those who only somewhat believe they have a curious culture.

Damien Bueno, President and Managing Director, 51����Australia and New Zealand, said: “An organisation’s ability to truly realise the value of technology comes down to how well its people understand data and apply human curiosity. Asking the right questions at the right time, being confident to seek out data and draw conclusions, leads to better decision making and, ultimately, enables organisations to be bolder in approaching business challenges and able to take action on an idea with an informed approach.

“This understanding and confidence is key to the continued growth, success and transformation of Australian and New Zealand organisations, especially during the period of disruption we currently find ourselves in.”

Barriers to cultivating a curious culture

Australian employees identified a lack of reward or encouragement as the biggest barrier to curiosity while business leaders pointed to too much pressure to deliver on short term goals.

Almost half of employees (47 per cent) believe they are not rewarded for their curiosity and two in five (43 per cent) feel they are not given time to be curious at work. Meanwhile, over a third (39 per cent) say that asking questions and challenging the status quo is not encouraged within their organisation and this jumps to almost half (44 per cent) of employees working for large organisations in Australia.

Dr Amantha Imber said: “Being able to challenge and debate ideas and assumptions is critical for building a curious culture, but being curious and asking questions instead of jumping straight to conclusions takes time. SAP’s research suggests many Australian businesses are not giving employees the time or the space to be curious.”

“Business leaders who are serious about future proofing their organisation against the current climate of uncertainty need to start role modelling curiosity, giving staff time to explore and experiment, and rewarding curious and creative behaviour within their organisations.”

To view or download a copy of the full ‘Capitalising on Curiosity’ report which includes top tips for how you and your organisation can start building more curious cultures, click

About the study

Independent market research firm YouGov was commissioned by 51����to conduct this study in February 2022.

YouGov conducted a survey of a nationally representative sample of employees and business leaders (senior managers and above) in Australia and New Zealand (ANZ).

All respondents were provided with the following definition: A culture of curiosity is an organisational culture where employees are encouraged and enabled to ask questions and seek answers to help organisations run better and meet the needs of their customers, employees and the community.

Following the completion of interviewing, the data was weighted by age, gender and region to reflect the latest ABS and StatsNZ labour force estimates.

Note to editors:

1. For the purposes of the research, a culture of curiosity is defined as an organisational culture where employees are encouraged and enabled to ask questions and seek answers to help organisations run better and meet the needs of their customers, employees, and the community
2. A large organisation is an organisation with 200+ employees
3. Medium organisations are those with 20 to 199 employees. Business leaders from medium-sized organisations that are very curious reported average turnover growth of 15.36 per cent over the last 12 months.
4. Small organisations in this study are those with five to 20 employees. Business leaders from small organisations that are very curious reported average turnover growth of 20.83 per cent over the last 12 months
5. To calculate the potential annual turnover benefit for small, large and medium Australian businesses with a very curious culture, YouGov combined key business estimates for number of businesses and average total income from the ABS, with survey results on the proportion of businesses with a very curious culture and the net annual turnover growth benefit from having a very curious culture.

The post 51����ANZ finds a curious culture boosts business growth and employee engagement appeared first on 51����Australia & New Zealand News Center.

Small and medium businesses (SMBs) have a few factors in common with the big players, but the most crucial commonality is cash flow. Plain and simple, it’s the heartbeat of any business, irrespective of size. Even a one-person business such as an individual tradesman can have the expertise, the customer base and great references – but if invoicing is slow, then cash flow suffers considerably.

I recently experienced this firsthand. We had to call out a plumber to fix a couple of leaks and he came out quickly and did a fantastic job. But I had a long and unforeseen wait for his invoice because he was so busy looking after his customers that invoicing had taken a back seat. I texted him and called him on multiple occasions because obviously I wanted to pay him, but I had to wait six months for the invoice to arrive. This might be a simple example, but it just shows the importance of getting the paperwork to a customer so that the payment can arrive in a timely manner.

The advent of mandated will be a game changer in many ways. Two years ago, the Australian Government announced that Commonwealth Government agencies would be required to process all invoices electronically by July 1st, 2022. While there is no mandate for SMBs to adopt e-invoicing as of today, if they provide services to government, they will need to be e-invoice-ready. Earmarked as an important component of SMB digitalisation, this is a core focus of ���ܲ��ٰ���������’s Digital Economy Strategy1, designed to help secure the country’s economic future.

Equal access to technology
The pandemic has prioritised the need for more effective business processes, accelerating digitalisation and technology adoption across both the public and private sectors. In this context, e-invoices will be the way for companies of any size to communicate, providing a faster and more secure method of processing, sending and paying invoices. In short, this is truly a democratisation of financial processes, where everyone has access to the same technology, thereby removing many of the common bottlenecks involved in receiving payment.

Irrespective of size or turnover, companies will have the ability to directly exchange digital invoice information with another company’s software, even if they are using a different system, network, or portal. By minimising error rates associated with manually processing paper, PDF and email invoices, e-Invoices also save time and help to reduce processing costs. Currently, it is independently estimated that each paper invoice costs around $30 to process, and each PDF invoice around $27. In comparison, e-Invoices cost less than $10 to process, so in theory both the sender and receiver can share up to $20 in cost savings.

The Australian Government has adopted a standardised invoicing format for e-Invoices called PEPPOL. Used for more than a decade in at least 38 countries as an international standard, PEPPOL provides a more secure channel for invoices than email, transmitting e-Invoices between the senders’ and receivers’ systems via access points.

As the legislated Australian PEPPOL Authority, the Australian Taxation Office (ATO) has been appointed to facilitate the adoption of e-Invoicing, including the accreditation of trusted service providers as access points for the PEPPOL e-Invoicing network. 51����is one of the few service providers accredited by the ATO to complement PEPPOL as an end-to-end ERP provider.

This means that invoices can be sent, received, corrected and monitored using one centralised solution: 51����Document Compliance. Enabled by SAP, e-Invoicing provides an efficient, cost-effective, and reliable way for companies to connect in a rapidly changing world.

Three key decisions
For our purposes, a small business is one that has between 1-19 employees, whereas a medium business is one that has between 20-100 employees. They have three essential decisions to make: the time and cost involved in adopting e-invoicing; understanding what software to use before integrating the process; and getting the right advisors while planning how to manage the change.

Broadly speaking, the switch to digitalisation has six steps:

Do your research: Take the time to map out all areas of your business where there is the potential to implement digital processes, identifying priorities and what will have the biggest short-term or long- term impact.

Different perspectives: Tap into external inspiration and learn from others to uncover new ways of achieving your goals.

Involve employees and suppliers: Change in the workforce can cause resistance, especially if it means new ways of working, so get employees involved in the decision-making process.

Find the right partner: Choose a technology partner that fully understands your business and your goals to ensure a smooth transition.

Total connectivity: Generate real-time understanding of your business and valuable market insights by connecting internal solutions and external networks.

Prioritise the change: Digitalisation requires commitment to the process, so start small but think big, learn along the way and keep moving.

While that might sound challenging, 88% of SMBs say that making the switch was easy. 51����has tried to highlight the benefits of e-invoicing to SMBs by examining the issue from their point of view, to understand their barriers to adoption. We recognize the fact that a lot of small businesses, especially the mum-and-dad businesses, don’t use SAP, but they will interact with or have relationships with bigger businesses or they may be selling things to large organisations.

Taking the next step
This is not just about selling software, per se. We want to be able to take a reasonably pragmatic approach to why we’re doing this, and what benefits we can provide to SMBs. We’re helping them take an outside-in approach so that they can see the upside of how their businesses will prosper. In a sense, we’re targeting this at install base or at net new. We have many lines of business, but the ones that I’m focusing on here are for those customers that already have 51����installed or are about to instal 51����as their digital core. What we recommend to them would depend on their profile, whether it’s Ariba or Concur, or what is the best recommendation if they’ve really got no underlying ERP or if they need our compliance and reporting solution.

It’s important to clarify that a mum-and-dad SMB currently using MYOB or XERO would continue to do so. Larger businesses would be the main users of SAP, but if they happen to buy from a mum-and-dad business, the latter in turn would need to be e-invoice compliant in order to get paid quicker.

51����is committed to helping SMBs keep pace, drive change and move forward in the face of shifting customer expectations, disrupted supply chains, and ongoing market uncertainty. It’s interesting to note that 80 per cent of our customers are small and medium-sized companies, so no matter how many employees a company has, we have solutions designed and priced for all.

We connect finance, operations, HR and sales to create exceptional employee and customer experiences. Proven procurement, inventory, and industry specific processes will help you move faster, adapt quickly, and face any competitor. Our local partners will get you up and running in a matter of weeks, so you can keep business moving forward today and be confident 51����will be with you wherever you go next.

Click to find out how 51����can help you with eInvoicing

The post SMBs have equal access to technology and can keep pace with customer expectations appeared first on 51����Australia & New Zealand News Center.

SYDNEY – November 25, 2021 – , one of��’s (NYSE: SAP) global B2B startup accelerators, today launched its first . It brings together a select group of disruptive startups building innovative technology solutions to global sustainability challenges and includes ANZ-based , and .

The equity-free program is designed to accelerate sustainability innovation in the APAC region, delivering new business models for 51����customers and organisations more broadly.

During the 13-week programme, the participating startups will have access to technical and go-to-market support that empowers them to integrate with 51����solutions. They will be paired with 51����mentors and given exposure to 51����technology and application programming interfaces (APIs), as well as collaboration opportunities with 51����customers.

Local startups changing the world

Startups were selected for relevance to SAP’s tripartite “Chasing Zero” sustainability journey. This includes working towards zero emissions – both for 51����and by empowering 51����customers to gain visibility of and reduce emissions across the entire supply chain; zero waste – entering a circular economy where we reuse, reshare, repair and recycle to reduce waste; and zero inequality – because a truly sustainable future is not possible when diversity is not the norm. The ANZ-based startups participating in the first sustainability cohort are:

• ���ܲ��ٰ���������’s , founded by sustainability and social innovation expert Frances Atkins. This is the go-to platform for businesses to discover and track sustainability credentials, attributes and initiatives of suppliers.
• New Zealand’s a carbon credits marketplace allowing customers to purchase audited carbon offsets, as well as measure and reduce their carbon footprint.
• The Australian arm of a platform connecting corporate energy buyers and retailers with green energy generators so all businesses, regardless of size, can purchase locally produced green energy at competitive rates with full transparency.

The other participating startups are Singapore-headquartered , which drives data-driven business efficiency through sensors, manufacturing and cloud platform services for smart metering, smart facilities management, smart logistics and supply chain; India-based , which helps people to breathe clean air using AI and ML techniques to analyse air quality, soil, micro weather, pollen, and more; and Singapore-based , a cloud energy management company which manages renewable assets, building energy and industrial energy.

Chasing Zero at SAP

51����has been investing in sustainability for over a decade, setting its first carbon reduction targets in 2009 and achieving them three years early. It has been named the software industry leader in the��Dow Jones Sustainability Indices��(DJSI) for 15 consecutive years, and its membership in the Value Balancing Alliance and the illustrates its commitment to integrating economic, environmental and social performance to drive business decisions.

51����was also one of 44 companies to receive the Terra Carta Seal for Commitment to Sustainability at COP26 and aims to be carbon neutral in its own operations by the end of 2023.

“Sustainability is one of the most acute challenges of our times. At 51����we believe that technology innovation and industry partnerships are key to creating a sustainable future,” said Damien Bueno, President and Managing Director, 51����Australia and New Zealand. 

“Partnering with some of the most innovative local sustainability startups will help us collectively tackle one of our planet’s biggest challenges head on. It’s great to see three success stories from Australia and New Zealand,��Givvable, CarbonClick and WePower, driving sustainable transformation as part of this innovation program.” 

You can find out more about the accelerator as well as SAP.iO’s other accelerators Learn more about SAP’s sustainability commitments .

The post SAP.iO Foundry Singapore launches APAC sustainability accelerator appeared first on 51����Australia & New Zealand News Center.

The research found Australian SMBs process an average of 168 invoices each month. With a Deloitte study estimating that e-invoicing could deliver savings of up to $20 per invoice*, ���ܲ��ٰ���������’s SMBs could save up to $40,320**��a��year.��

The��benefits��are��clear, with��75��per cent��of��those��who��have transitioned��saying��the biggest impact has been time and money saved.��More than half said it improved the��accuracy of��recordkeeping��(56��per cent)��and��was more��secure��(53��per cent).��

“Running an SMB comes with its challenges but switching to digital processes has been key to the survival of many businesses during the pandemic. It frees up time and money to focus on other priorities like developing new products and finding new customers,” said Sofiane Ainine, SMB Segment Lead, 51����Australia and New Zealand. “Now is the time for SMBs to review their adoption of technology. This will help them through the current crisis and set them up for future growth.”��

“The pandemic has highlighted the importance of technology adoption in helping small businesses innovate – increasing efficiency and productivity, attracting new customers in different markets, improving customer and employee experiences. This helps them create more jobs,” Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, said.����

“It’s encouraging that the research in this 51����report shows SMBs accelerating digital technology adoption. Technologies like e-invoicing improve process efficiency and, importantly, will see small businesses paid more quickly for the products and services they provide.”��

Switching��is easier than many SMBs think����

The��research suggests��that��the fear of switching to e-invoicing is bigger than the challenge of implementing it, with 88 per cent of SMBs that had made the jump saying it was easy, and almost one in five (18 per cent)��making the transition without external support.��

Some��will still��need help to get there, with integrating the process into computer systems��(36 per cent) and understanding what software to use (31 per cent)��perceived as the biggest challenges.��

Nearly half (46 per cent)��of SMBs��are mostly digital in their invoicing and recordkeeping.��Of��this group, 26��per cent��sought advice from their internal IT department, followed by an��external IT company (24 per cent), their accountant (26 per cent), a consultant (22 per cent)��or��The��Government (18 per cent).��

“SMB owners shouldn’t feel like they are alone on this journey. There are many sources of support ready to help them overcome hurdles and make the most of opportunities by sharing experiences and advising on the best approaches for their business,”��Ainine��said. “It’s about taking it one step at a time, learning what works and implementing digital initiatives that align to their goals.”��

��

The outlook: A digital future��

The past 18 months has fast-tracked the transition to digital processes for many SMBs and increased their appetite for transformation. The research found most SMBs who use e-invoicing��(75 per cent)��are looking to digitise other business processes. Payroll is the top focus (72��per cent), followed by forecasting (42��per cent), debt collection (38��per cent), customer experience (33��per cent), and talent management (28��per cent).����

Over half (54 per cent) of SMBs say they will have digitised all account and account management processes within the next two years, with 44 per cent planning to do so within the next 12��months.����

To help them get there, more than half (57 per cent) of business owners/managers agree that increased government support in the form of information, services, subsidies and grants would help their business continue to drive forward digital initiatives and change.��

��

Innovation in action������

Mining equipment manufacturer��Geographe��needed to update its business technology in support of its strategic vision to expand into new markets and refine its product sets around continued innovation.��

Implementing an intelligent ERP system built on 51����S/4HANA Cloud® has helped the business reduce lead times by as much as 50 per cent. Automated core processes and greater operational efficiencies have reduced some workloads by more than 15 per cent.��

Geographe��CEO, Sam��Hyder, said: “Due to COVID-19, we have moved to hybrid working. Having a scalable IT landscape with greater transparency and real-time data helped us become more responsive to customer needs. We can now confidently predict customer demand and optimise production, inventory, and our supply chain accordingly.”��

��

The full��report��and��key tips on how to transform your business, please visit:������

��

Note to editors:��

About��the��SAP��report:��The connected SMB: Embracing digital strategies to fuel growth��

The research was commissioned by 51����Australia and undertaken by YouGov to��understand where Australian SMBs stand with their current e-invoicing and broader digitisation efforts.��The sample comprised of 802 Australian business owners/managers with less than 200 employees:��

• 1-19 employees n= 252����

• 20-99 employees n= 518����
• 100-199 employees n= 32��

Fieldwork took place between 29 June��and 13��September 2021.��

*��2021��

**��168 invoices per month x 12 months x $20 saving per invoice = $40,320 per year��

The post 51����study finds e-invoicing could save Aussie SMBs over $40,000 a year appeared first on 51����Australia & New Zealand News Center.

These enterprise customers are adopters of that are enablers for new ways to manage spend and drive cost reductions. For the mid-market organisation, this transformation has been not been as consistent.

For many , the procurement function tends to be a lot less strategic and we often see organisations who are running processes that have had very little change in over a decade or more.

This stagnation comes at a cost through reduced margins, higher inefficiencies, and potentially excessive administrative overhead.

This decade we are also seeing increasing regulatory oversight on areas such as modern slavery, supplier payment times and health and safety – in some regions even exposing management to prison sentences for non-compliance. Couple all this with an increase in challenging trading conditions – the path to improvement is becoming more urgent.

With 2021 firmly underway the aim of this article is to provide a simple measuring stick for mid-market organisations to determine their relative procurement maturity in a number of selected areas. Whilst procurement has different aspects across different industries, many of the themes discussed below are cross-industry and apply in some way to most types of organisations. Forward looking mid-market organisations would be encouraged to assess some of these criteria against their current priorities for 2021 and beyond.

A key theme will be the across core processes which is an enabler to best in class outcomes.

How do your casual users buy?

Casual users are the staff in your organisation that need to buy “stuff” but are not part of a purchasing or supply chain team. Examples of this can be Marketing, Legal, HR, Facilities, IT and other similar areas. Each of these buyers need to procure goods and services for their area of operation in an easy way.

Most organisations will have some element of purchase initiation from staff that are not directly in procurement. The differences between approaches can be stark.

In the above scenario the path from laggard to best in class is underpinned by technology as the key enabler.

What is your catalogue strategy like?

Most of us use popular online web stores at home where there are vast catalogues of items to select from, but for a lot of mid-market organisations when you buy at work, it can still look like the 90s.

Catalogues provide the key connection for contracted items from suppliers with your buyers.

How does your organisation transact with suppliers?

Digital collaboration has been around for over a decade but in the mid-market the process can still be very email driven. If you are sending a Purchase order manually or even just as an attachment or inline text in an email and then receiving a paper or PDF invoice at the end – then the process is not digital. Digital is about engaging the supplier to directly provide transaction data in areas such as confirmations, shipment notices, returns, credits and invoices. All without data entry by your staff.

The path to digital delivers reductions in FTE overhead with better visibility on orders, faster invoicing turnaround and better compliance from suppliers to your purchase orders and contracts.

Government is also coming on board with many jurisdictions looking to encourage digital collaboration in the marketplace.

The way you transact with suppliers will have a direct impact on Accounts Payable efficiency discussed next.

How efficient is your Accounts Payable team?

Poor purchasing practices often place a bigger burden on Accounts Payable teams to wade through non-compliant, incomplete and missing information in the quest to process invoices and approve them for payment. Phones and emails can be bombarded with queries around late payment that follows.

We also seeing more governments introducing tougher rules around paying smaller suppliers which requires Accounts Payable teams to be able to get through invoicing efficiently.

The above scenarios are just some examples of the challenges we see at mid-market organisations.

There are opportunities for hard savings and benefits to those organisations that move towards best in class and it can often be done in a cost-effective way. For many mid-market organisations there is still a large administrative overhead that is behind the efficiency of bigger organisations who achieve more with less.

Interested in learning more? At 51����we work with many and can provide advice and guidance around your digital procurement strategy for 2021 and beyond.

This article originally published on .

The post The Path to Digital Procurement for Mid-Market in 2021 appeared first on 51����Australia & New Zealand News Center.

Australian glass manufacturer and supplier Viridian Glass has deployed 51����S/4HANA public cloud ERP.

The deployment came after Viridian was sold to private equity group Crescent Capital Partners, where the company sought a technological solution to manage its upstream glass manufacturer and downstream window manufacturers across Australia and New Zealand.

Simple and standardised

Viridian also wanted to replace its legacy ERP system, which was highly configured and customised, to a more cost-effective and user-friendly replacement that could integrate with the company’s Lisec manufacturing solutions.

The company turned to Acclimation to deploy 51����S/4HANA and implement a cloud-based and contemporary solution, while also operating under a short transitional service agreement.

“The successful completion of the Viridian project marks Acclimation’s 10th implementation using SAP’s Activate Methodology for cloud ERP,” Acclimation managing director Rod Taubman said.

Through 51����S/4HANA, Viridian used discovery assessment, roadmap viewer and portal and implementation portal to align the solution’s capabilities with its business needs and third-party systems, localising platforms for its ANZ businesses.

Inbuilt automation

51����S/4HANA public cloud also provided a pre-configured, out-the-box solution with predefined content and architecture built into the new ERP.

51����Cloud Platform Integration seamlessly connected 51����with Viridian’s existing manufacturing systems, maintaining business continuity while providing automated warnings and forecasting.

As a result of the implementation, Viridian are on track to save AUD$5 million per year.

Viridian were part of the 51����ANZ Best Run Awards. To read their submission, visit:

To read more about how 51����ANZ partners can help you, visit:

The post Glass manufacturer Viridian deploys 51����S/4HANA cloud appeared first on 51����Australia & New Zealand News Center.

Supporting a technologically maturing workforce will always be a priority for IT leaders. But lately, a new test is emerging that can put them front and centre of a recovery from an anything-but-certain economy.

In recently published research,�� revealed that sustained growth and strong customer relationships are increasingly urgent for medium-size businesses seeking operational resilience as a competitive edge. Approximately one-third of surveyed IT leaders are getting the message – prioritising strategic priorities around growth (35%) and the customer experience (33%) ahead of traditional concerns such as innovation, productivity, efficiency, and business transformation.

Elevating the role of IT

When investing in new technology to support the ability to scale customer experience to drive business growth despite wild fluctuations in demand and market dynamics, medium-size businesses have an endless array to consider. Approximately half of IT leaders shared with Oxford Economics that their organisations are using a mix of ERP software, mobile technology, process automation, and e-commerce platforms either at scale or for some applications or projects. Meanwhile, less than one-quarter are using artificial intelligence, machine learning, or the Internet of Things in some areas.

A variety of solutions work together to provide the online experience that customers increasingly demand. But to deliver such advanced digital experiences, IT leaders and the senior managers they support should consider moving away from siloed organisational management.

When organisations hold total control of specific responsibilities and data, medium-size businesses cannot fully realise the full potential of connected technologies. For example, letting the finance team exclusively hold the reins on transactions and reporting eliminates any opportunity to lower spend and ensure compliance across the business. The same can be said for marketing organisations that do not share customer data outside of themselves and their sales counterparts, which often leads to inefficient management of functions such as the supply chain and HR.

Connectedness driving innovation

Connecting every business function is essential to enable the process improvements and innovation needed to build a resilient, long-term foundation for a scalable customer experience. Oxford Economics research indicates that more than half of surveyed IT leaders use ERP software to some degree – whether scaled business-wide or in some applications or projects.

This approach enables IT leaders to deliver on a range of requirements to expand into new markets, introduce new products, and increase headcount. They include strengthening 24/7 service availability and cybersecurity; improving data collection, storage, and analysis; and integration with market-standard interfaces.

Consider how����keeps up with the pace of its already explosive growth and expansion across eight markets with an intelligent ERP explicitly designed for merchandise management. This approach helps the Southeast Asian online fashion retailer automate and streamline its processes and support future innovation across multiple businesses and delivery models. The company is also leveraging real-time reporting and analytics to stay ahead of trends and give millions of customers what they want along each step of the shopping journey.

By using an intelligent ERP solution, companies such as Zalora Group, benefit from a comprehensive, yet flexible, platform to navigate unforeseen challenges and sense new opportunities. The entire business – from sales and finance to supply chain management and logistics – can scale up and down, when needed, to adapt to changes in demand, supply, and operational scope without significant resource investments.

Setting the foundation for long-term resilience

Without question, IT leaders have a tremendous opportunity to prepare their medium-size companies for a sustainable recovery. Choosing the right digital strategies and investments can encourage all business functions to play a role in scaling the customer experience for growth today and in the years ahead.

One such move is adopting intelligent ERP platforms and other digital tools that connect the dots across all data sources and processes. This first step is much more than consolidating data into a unified system. It’s also the gateway to the continual process improvement and intelligent innovation necessary to enhance customer experiences – no matter the economic condition.

To find out how 51����products can help SMEs, visit the .��

Find out how your IT organisation can give your medium-size business the resilience, connectedness, and agility to strengthen the customer experience. Read the Oxford Economics study, “,” sponsored by SAP.

The post Experience With A Touch Of IT Agility: The Recovery Of Medium-Sized Businesses appeared first on 51����Australia & New Zealand News Center.

Finance leaders from mid-sized businesses (100 to 999 employees) are known for keeping a watchful eye on nuanced signals and indicators of potential risk. And yet recent results from a survey conducted by Oxford Economics and 51����of small and mid-sized businesses found that roughly half of finance executives from mid-sized businesses cite risk management (54 per cent) and spend visibility (45 per cent) as top challenges for their function.

In many ways, COVID-19 presented a perfect storm of cash-flow issues in a matter of days. Economic contraction fuelled by government pressure closed non-essential stores and offices. Revenue was lost due to interrupted manufacturing operations and overwhelmed supply chains. Credit risk exposure rose as liquidity constraints emerged, once-successful hedging strategies failed, access to working capital tightened, and customer accounts became riskier.

Throughout this time, demand for 51����Ariba Discovery, a solution that was made available at no cost through the end of 2020 to help connect buyers and suppliers and keep supply chains intact, grew significantly in Australia – with buyer postings up +317 per cent and supplier responses up +339 per cent since the lockdown started in March. This demand highlighted the appetite for digital tools for businesses of all sizes to help them manage the effects of the crisis.

But just as the Australian economy was slowly starting to regain momentum, the Victorian Government has introduced stage 4 restrictions following a second wave of infections. The Treasury has estimated this six-week lockdown will cost the national economy about $9 billion. The ongoing sense of uncertainty highlights the importance of increasing resiliency with cash-flow management and digital tools, with three steps that mid-sized businesses should take to secure cash flow.

1. Ensure continuity of finance operations and workforce

Financial systems should be able to support mission-critical activities – such as urgent supplier payments, cash transfers, and trade management – whether the employees are processing them in the office or from a remote location.

When facing disruption, businesses need to make sure they have the finances on hand to keep business moving. Organisations need to ensure business continuity and reduce supply chain risk while still controlling costs and working capital. Moreover, suppliers need access to cash so they can keep delivering the goods and services required.

51����Ariba has been putting the power back into the hands of suppliers by affording them choice and flexibility when it comes to payment terms. This is especially important at a time when effective cash management has never been more crucial to both buyers and suppliers. This not only safeguards the supply chain, but also allows businesses to build crucial relationships and resources to enhance financial results over the long term.

2. Manage finances proactively

As organisations reforecast revenue and profitability, continued cost and cash control will be critical to rebuilding the bottom line. But as customers begin buying again, businesses must balance the need to free up working capital with sourcing the materials and talent needed to meet customer demand.

Through times of volatility or steady growth, knowing the company’s financial status is critical. This is why, in the past few months, 51����customers have been using our technology to run daily cash forecasts. Daily reports on key figures – including the daily cash position, cash-flow forecasting, the structure of free cash flow, working capital and debt – enables finance teams to do liquidity planning for at least 12 weeks.��

If this kind of reporting is not already in place, financial leaders need to implement tools that provide a combination of visibility and predictive analytics. Blending data insight with guidance gives finance leaders a clear view of the business and helps future planning.

3. Balance risk with opportunity

Analysing a range of scenarios enables finance leaders to evaluate the potential impact of risks and implement strategies to enhance competitive advantage. It also means they can finetune product and capacity plans by rethinking the implications of commodity risk and monitoring external markets.

Tapping into insights from cash-flow planning analysis, finance teams can adjust their hedging strategies by:

• Addressing foreign exchange risks
• Shifting limit management practices for ad hoc tasks
• Mitigating credit risk within the supply chain
• Reshaping the funding strategy with extended credit lines and new sources of liquidity
• Adjusting the ongoing operating model and updating the existing business continuity plan

4. Respond to the challenge and get ready for what’s next

Whether running in good financial shape, struggling for profitability, or facing low cash reserves, all mid-sized businesses can become vulnerable to cash-flow instability. It doesn’t require a global pandemic to experience it.

In the short term, state and federal governments are supporting businesses with emergency loans and payments. But as these forms of business life-support are withdrawn in coming months, organisations will need to find new ways to manage risk, increase resiliency and maintain profitability.

So, how do high-performing finance leaders help their business navigate through times of volatility and financial opportunity? It all comes down to a foundation of timely, meaningful and predictive insight with guidance on the potential implications for financial status, performance and viability.

To find out more about how 51����can help small and mid-sized businesses, visit .��

The post How SMEs can avoid the cash-flow crunch appeared first on 51����Australia & New Zealand News Center.

These growing enterprises prioritise the value that comes from providing an excellent customer experience, according to the latest . In today’s harsh economic environment, SMEs require digital solutions that provide access to real-time data analytics for fast decision-making and support valued, personal relationships with customers and employees.

At SAPPHIRE NOW, 51����customers and SMEs shared how they are adjusting to new market conditions. These enterprises are using digital technology to overcome uncertainty and reimagine their business. To find out more,��.

Solutions that Grow with the Business

Together with a global ecosystem of partners, 51����provides a multifaceted approach to delivering business software that grows with young, agile businesses. And with the promise to help customers run at their best, 51����helps ensure that businesses of all sizes can benefit from innovation without disruption.

“We always have a 10- to 15-year horizon in front of us,” Rainer Zinow, senior vice president of 51����Business One and 51����Business ByDesign,��, held online in June. “Our mission is to make sure our solutions work best for you – our partners and customers – in the long run. Therefore, we are making technological investments to make sure we get the most out of it for you.”

��is a public cloud suite-in-a-box for fast deployment and low cost of ownership, Zinow underscored.����is for companies with an on-premise or hosted deployment model, and����is the multi-component suite for companies with deep functional requirements.

Commitment to Choice

While the public cloud market is expanding in all segments and business functions, demand for on-premise enterprise resource planning (ERP) solutions remains solidly robust. Fortunately, 51����is well positioned to deliver on its commitment to supplying a diversified solution portfolio to meet the varied needs of its customers.

“What sets 51����apart in the market is that we offer choice on the deployment method – whether on premise, private cloud, or public cloud,” Zinow said. “And we offer choice regarding the licensing model, be it a perpetual or subscription-based model. With 51����Business One and 51����Business ByDesign, we are well equipped for the market.”

Build Once, Reach Many with Business Application Factory

The keystone of SAP’s pledge to partners is the roll out of the new�� concept – signifying a strategic, multi-year commitment that accelerates partner-led innovation across the SME portfolio while looking ahead to a new era of industrialisation in application building. Built on 51����Cloud Platform, Business Application Factory provides a unified data model that uses business objects and reuse engines across the entire SME portfolio. This means partners can build and extend cloud-native applications side-by-side for all SME cloud solutions provided by SAP.

51����partners can continue to leverage their local presence and deep industry expertise to build extensions and apps for their SME customers. The difference is that with Business Application Factory, instead of building one-off solutions for individual customers, partners will be able to access the comprehensive toolkit of reusable business components and technology from 51����to accelerate their time to market. The open-source architecture changes the existing approach, creating a compelling development environment for the 51����partner ecosystem. Another key advantage is that it can run on any hyperscaler’s architecture.

“Build once, reach many,” is how Zinow summed up the intrinsic value of Business Application Factory for 51����partners.

“With the factory, partners can extend both 51����Business ByDesign as well as 51����Business One, and they can also build completely new apps and solutions for the cloud,” he said. “We believe this is a game changer for our SME partners.”

51����presented the Business Application Factory concept – designed for the cloud and tailored for digital use cases implemented by SME partners – at the 2020 SMB Innovation Summit in February, where it received overwhelmingly positive feedback from 51����partners.

Based on the SME solutions strategy and the feedback from selected partners and customers, the 51����Cloud SME Solutions team is developing Business Application Factory, with general availability planned toward the middle of 2021. This version is planned to contain core capabilities, to be expanded over time, and to be for all partners in most countries. Regions will be defined based on demand.

To learn more, visit the��.

This article first appeared on the Global 51����News Centre.��

The post Taking the Long View, 51����Injects Innovation into SME Portfolio appeared first on 51����Australia & New Zealand News Center.