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*, Australia鈥檚 SMBs could save up to $40,320**听a听year.听

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

鈥淩unning 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,鈥� said Sofiane Ainine, SMB Segment Lead, 51风流Australia and New Zealand. 鈥淣ow 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.鈥�听

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

鈥淚t鈥檚 encouraging that the research in this 51风流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.鈥�听

Switching听is easier than many SMBs think听听

The听research suggests听that听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)听making the transition without external support.听

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

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

鈥淪MB owners shouldn鈥檛 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,鈥澨鼳inine听said. 鈥淚t鈥檚 about taking it one step at a time, learning what works and implementing digital initiatives that align to their goals.鈥�听

听

The outlook: A digital future听

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听(75 per cent)听are looking to digitise other business processes. Payroll is the top focus (72听per cent), followed by forecasting (42听per cent), debt collection (38听per cent), customer experience (33听per cent), and talent management (28听per cent).听听

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听months.听听

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.听

听

Innovation in action听听听

Mining equipment manufacturer听Geographe听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.听

Implementing an intelligent ERP system built on 51风流S/4HANA Cloud庐 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.听

Geographe听CEO, Sam听Hyder, said: 鈥淒ue 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.鈥�听

听

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

听

Note to editors:听

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

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

• 1-19 employees n= 252听听

• 20-99 employees n= 518听听
• 100-199 employees n= 32听

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

*听2021听

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

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

Australian glass manufacturer and supplier Viridian Glass has deployed 51风流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鈥檚 Lisec manufacturing solutions.

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

鈥淭he successful completion of the Viridian project marks Acclimation鈥檚 10th implementation using SAP鈥檚 Activate Methodology for cloud ERP,鈥� Acclimation managing director Rod Taubman said.

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

Inbuilt automation

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

51风流Cloud Platform Integration seamlessly connected 51风流with Viridian鈥檚 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风流ANZ Best Run Awards. To read their submission, visit:

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

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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,听 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 鈥� 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 鈥� 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听听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 鈥� from sales and finance to supply chain management and logistics 鈥� 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 鈥� no matter the economic condition.

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

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, 鈥�,鈥� sponsored by SAP.

The post Experience With A Touch Of IT Agility: The Recovery Of Medium-Sized Businesses appeared first on 51风流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风流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风流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 鈥� 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 鈥� such as urgent supplier payments, cash transfers, and trade management 鈥� 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风流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鈥檚 financial status is critical. This is why, in the past few months, 51风流customers have been using our technology to run daily cash forecasts. Daily reports on key figures 鈥� including the daily cash position, cash-flow forecasting, the structure of free cash flow, working capital and debt 鈥� enables finance teams to do liquidity planning for at least 12 weeks.听

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鈥檚 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鈥檛 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风流can help small and mid-sized businesses, visit .听

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