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DIGITAL transformation
How to digitally evolve with ERP software .
By Gary Hawkesford
Businesses that have implemented an Enterprise Resource Planning ( ERP ) system have very likely seen numerous goals realized and benefits aplenty and if everything they hoped for has been achieved , then a round of applause is deserved . However , leaders with the approach : ‘ we did that , we digitally transformed ’ should beware . Often there are nice-to-haves that didn ’ t make the project cut , functionality is updated twice a year on many cloud-based ERP solutions and , of course , businesses , markets and world events constantly evolve . That ’ s why companies should adopt a digital evolution mindset .
Based on some of our recent work , we explore some areas that businesses that are utilizing ERP software may be able to optimize to achieve an even greater return on investment on their technology .
Integrating all subsidiaries
It ’ s not uncommon for small subsidiaries to be excluded from an ERP implementation , particularly if at the time of the project they didn ’ t even exist , but if your company doesn ’ t bring them into the architecture , you can easily find yourselves without a clear business picture . Furthermore , if funding is on the horizon , then a system to provide accurate global financial and operational data is a must .
We recently undertook a project for a US-based apparel brand to integrate its European operations – based in the UK – into its NetSuite OneWorld solution . Prior to this , the UK team was operating with separate financial , sales and inventory management software . Siloed from the two subsidiaries managing the North American markets , it took time to piece information together so swift strategic decisions could not be easily made .
With go live of the subsidiary project , excessive administration requirements were removed , and complex intercompany interactions were made much simpler , meaning the UK team could immediately put more resource into high-value tasks . Real-time reporting and actionable insights from procurement , sales and financial data are available at global , regional and country levels as a result of this consolidation .
Next level financial automation
If you ’ re an ERP user within a finance team and you didn ’ t know many of the manual , time-sapping tasks can be automated … where have you been ?! While it might not be out-of-the-box functionality with your ERP system just yet , any process can be automated – from order to invoice to reconciliation – perhaps with an add-on app
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