Welcome to the AdvenTech Blog.
Software can be expensive. That's part of the reason why many business, especially when the executives are looking to increase cash flow, don't always think about the possibilities of investing in new software.
However, having the right tools can have a decidedly positive impact on any company's cash on hand and overall bottom line. With our solution, you can take advantage of those tools that will help you grow your business - without an investment that you are unprepared to make. In other words, using we can help you evaluate your business and identify opportunities for increased cash flow won't have a negative impact on your company's available assets.
That's because our solution is offered in a Software as a Service model. That means that while all of the different components work well together, businesses are able to choose the tools that they need most, stick within a budget, and know that additional resources will be available when they need them.
With us, you choose the tools that will best help you enhance your bottom line. Need to manage customer relationships? Choose the CRM component. Want to see whether or not you're working with the best suppliers? Put the supplier relationship management (SRM) tools to work for your business and identify ways you can save. Need to keep better track of planning and timeline to avoid costly delays? The project management components can help. Need to manage your company's finances and accounting or supply chain? We have components that can help in these areas as well. Having trouble creating reports that encourage the rest of your team to take action? There's a component that can help with that as well.
In other words, with a software as a service solution like this, your company can focus on meeting key needs - whatever they may be - without having to worry that the tools you choose will need to be updated at a later time. With our solution, all of the tools work together - and you can access them as makes sense for you to evaluate your business, improve your decision-making process, and increase cash flow.
When evaluating software to run your business you will usually find there is no perfect fit for your needs. Businesses are faced with a choice of finding a solution and customizing it to their needs, developing their own solution, changing their processes to fit the software, or just doing without some features. Each of these options have their pro’s and cons:
Option 1: Customizing an Off-The-Shelf Package
This option will allow your business to run exactly the way you want it to, but at a cost. The most obvious cost is the effort involved in doing the customizations. This may require internal resources or hiring external consultants to develop the necessary code. With any piece of software one needs to consider issues such as documentation, upgrades, obsolescence, and support. You may find one of your employees is the only one who knows how it works.
Option 2: Developing an In-House Solution
This option has similar advantages and disadvantages as the first option, but this is all magnified. Typically an in-house solution is not as flexible as a purchased solution, as the in-house solution was developed to meet the business needs at that point in time and keeping up with new technologies, industry standards, and practices requires resources.
Option 3: Adapting Business Processes
Often businesses looking to replace their systems are doing so because they have broken processes. For example, they lack controls, they lack visibility, it takes too long to perform functions. Seeking new software to automate processes should be just part of the consideration. There may be other processes that are required because “it has always been done this way”. This is where a robust solution that offers best practices such as SAP Business ByDesign can make a large impact on an organization. It is often the most difficult part of introducing new software as there is a natural resistance to change within an organization and old habits sometimes inhibit ones ability to view something new as an improvement.
Option 4: Doing Without Some Features
At first glance this may sound like a step backwards. If a software solution lacks a certain piece of functionality there may be a sound reason for it, such as there is limited value in automating the process. Or, the features may be needed but there are other ways to do it and when viewing the bigger picture there is a net gain to the organization even by foregoing some features. Sometimes a feature is better left to a company that specializes in these processes so they can offer more functionality in addition to the core requirements. This is typical of payroll and email marketing. The 80/20 rule is often referenced in these situations. Will the 80% gains of a robust package benefit an organization more than the 20% that may not be addresses by a purchased solution? Will the new package provide value add in other areas that will reduce the 20% to a lower figure?
What’s the right approach? There is no best answer. Ultimately it is up to you to determine what is best for your organization. Option 1 tends to be the most complex and risky type of implementation but I will stop short of saying don’t do it. It may well be the only option that makes sense for a given situation. Unless you are a monopoly there is an excellent chance that another company is experiencing the same situation. The question you should ask is, are you doing things the best way possible to stay ahead of your competitors? The answer to this question may lead you down the correct path for you.
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