Financial managers and MDs attempting to run on outdated procedures and solutions are likely losing money within their operations, says Ashley Pillay, sales manager at Sage Evolution.
"Too many local small, medium and mid-sized enterprises are avoiding an investment in updated business management software, thinking their existing solutions will suffice. But in many cases, these existing systems are paper-based, or running in isolation from the rest of the enterprise. This makes compliance with new legislation, adapting to change and making effective strategic business decisions challenging," he says.
Gaining a single view of the enterprise is also a challenge when crucial data is running on disparate systems, Pillay points out. Therefore, identifying areas for performance improvement, resource allocation and cost saving becomes difficult and time consuming.
Companies often avoid making the investment because they are under the misconception that effective solutions are priced out of their range, says Pillay. Some address this by having their own proprietary systems developed, only to run into problems when if they need support or enhancements to their propriety software.
Pillay notes that when advanced, integrated enterprise management solutions are rolled out, they typically deliver a significant return on investment in six to 12 months.
"The measurable cost savings are seen in areas such as improved efficiencies. What is harder to quantify, but equally important, is the improvement in customer service and retention, compliance with new legislation and the ability of top management to make better strategic decisions, based on a clear view across the enterprise," Pillay says. "Local companies are over-complicating their management - they need to look to software to make their lives easier and reduce their operating costs."
Pillay will discuss the challenges facing local businesses and introduce the Sage Evolution solutions to support retail, manufacturing and service industries, at the upcoming Sage Evolution Executive Forum in Johannesburg. For more information about this event, click here.
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