Systems investment to grow your business: How to ensure a return

If you’re serious about growing your business in 2016, no doubt you kicked off the year with a clear plan for growth… But have you considered whether your systems investment is right to support your business’s growth?

Unfortunately, when it comes to implementing software, most SME business owners hold themselves back by heavily focusing on price when choosing which application to go with. In doing so, they not only fail to purchase the right system to execute their plan for growth, but they also fail to see the cost savings a scalable solution can achieve for them.

The lack of a scalable, integrated solution that is capable of supporting growth is often a key impediment and can prevent your business from achieving its potential.

By continuing to make software purchasing decisions based on price during a period of growth, businesses like yours run the risk of:

  • Using a variety of unconnected systems that may cost less individually, but have large cost implications due to the inefficiency of using disparate applications;
  • Conducting specific functions manually or using workarounds, due to the lack of capabilities of your system;
  • Being unable to manage your stock optimally due to poor visibility of stock levels, resulting stock outs or excessive storage costs;
  • Being unable to source information efficiently when it’s required; and
  • Impeding the growth of your business.

Systems investment, not systems cost: Think of your software spend as an investment, not a cost

Take the example of inventory management:

In many cases, avoidable costs around the management of complex inventory can often run into the tens of thousands. However, many businesses accept this as part of the status quo.

That said, when it comes to a systems investment with the potential to help the business eliminate some of these costs, that’s when decision makers seem to become price sensitive, making tight-fisted decisions that end up costing them more in the long run.

In such situations, I find it more accurate to think of the cost of implementation as an investment towards the growth of your business, and a good measure against quietly bleeding money in the background.

So, what does a good systems investment look like?

Ensure your systems investment provides you with a return on your investment and make sure your system is:

  • Integrated – Automatically transferring data between systems, saving you time and reducing the risk of human error;
  • Enable efficiencies – Eliminating the need for manual consolidation of data from different systems;
  • Automated – Automatically tracking orders and stock allowing you to optimise your stock control and order delivery;
  • Scalable – Able to grow as your business grows; and
  • Customisable – Able to be tailored to suit your specific needs.

Recognising this need in the market, we set out to develop a solution that met all these criteria – one that business owners could invest in with the clear expectation of ROI.

Finding the right solution to help you grow

As a result, HARMONiQ is both a scalable and integrated solution, incorporating Financials, Commercials, Business Intelligence (BI) Dashboards and CRM / Marketing modules within a single system. In addition, it’s unique in that it can be truly personalised to match the way you want your business to operate and your people to work together.

Specifically, HARMONiQ’s inventory and order management capabilities extend to:

  • Multi-warehouse management;
  • Tracking every purchase order;
  • Developing discount metrics;
  • Identifying trends in purchasing; and
  • Conducting regional analysis.

So, if you would like to discuss how you can start leveraging scalable, integrated systems to achieve significant efficiency improvements and cost reductions in your business, please call me on 02 9542 2000 or email me at drew@micronet.com.au.

Drew Arthur is the Managing Director of Micronet Systems and is focused on helping business leaders overcome inefficient sales, inventory, and customer relationship management practices by leveraging cutting edge technology. If you want to gain better control of the sales processes in your business, click here to see how HARMONiQ Business Tuning Software can make a difference to your business, or click here to get in touch.

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