CFO mandate Archives - X3 Consulting

Sage X3 provides advanced, all-in-one ERP with industry-specific depth and new technologies for intuitive usability – the driving success at many companies.

WHY MODERN BUSINESS MANAGEMENT IS THE NEW DIGITAL REVOLUTION IN 2022

CFOs face a dual challenge in 2022: Accelerate growth and digital initiatives and preserve or restore the organisation’s financial health.

Seven out of 10 board directors according to a recent Gartner study say the COVID-19 impact has already accelerated digital business initiatives.

That acceleration is designed to deliver continuous value and agile strategy-setting, real-time risk assessment and mitigation, better informed and faster decisions, and hyperautomation (any process that can be automated should be automated).

And this accelerated digitalisation is sweeping both the finance function and the organisation as a whole.

HOW CAN YOU BUSINESS EMBRACE DIGITAL CHANGE?

It’s easy—and often justifiable—to blame rapid, unceasing technological advancements as the cause of many of today’s major challenges in industries such as manufacturing, distribution, and services. Globalisation, a mobile workforce, and new apps and tools are among the many factors that have created a new reality in which:

  • Data is being generated at mind-boggling rates, forcing you to make sense of it and make intelligent decisions almost on the spot.
  • Organisational silos are inadvertently being created, interfering with operational efficiencies, as individual business units incorporate tools and systems to meet their specific needs.
  • The ability to conduct business anytime and anywhere increases the need to satisfy your customers when they demand it.

Paradoxically, if technology is complicating your business, it can also simplify it. That’s why businesses of all types and sizes have recognised that traditional accounting software and legacy enterprise resource planning (ERP) solutions are no longer adequate to keep up in today’s business world—much less tomorrow’s. In fact, 49% of executives surveyed said they’re implementing new systems to replace their out-of-date ERP software, according to a recent report published by Sage

Are you interested in taking advantage of a faster, simpler, more flexible business management solution that supports your current needs and will promote your digital change well into the future? Now you can.

X3 BENEFITS

  • Enables the reviewing of business-critical information in real-time
  • Is flexible and can be adapted to changing business requirements
  • Provides flexible, customisable configuration specific to your business
  • Offers data analytics and business intelligence functions to enable faster, smarter decision-making
  • Provides a path to innovations such as the Internet of Things
  • Helps you and your management team focus on growing your business
  • Simplifies every part of your operation and helps reduce costs

HOW TO RECOGNISE THE REASONS TO MOVE BEYOND ERP

Recognising this, forward-looking mid-market enterprises are deciding to replace their legacy systems with more modern business management solutions that can support contemporary challenges, streamline their business processes, and improve collaboration throughout their business and across their supply chains. It’s no surprise that for two straight years, executives have cited the need to upgrade as the most common reason they’re replacing their old systems.

They’re looking to:

  • Availability of information
  • Improved data reliability
  • Increased interaction/integration of business operations/process
  • Improved productivity and efficiency
  • Improved lead time and enventory levels

 

We have a download from Sage called move beyond ERP, Click here to download.