With the general election now done and dusted it is only a matter of weeks until Boris Johnson’s promise of “Getting Brexit Done” should come to fruition.
The whole country waits with baited breath to see how this will affect the economy and trade in general, but also how will this affect your use of Sage X3? And is there anything businesses using Sage X3 should be doing to prepare?
Currently the UK is scheduled to exit the EU on 31 January 2020, this could be earlier if the Withdrawal Agreement is approved and implemented. The UK will then move into a transition period until at least December 2020 for companies to implement changes. The UK will no longer be part of the EU free trade area meaning the following areas of business, that link to your Sage X3 solution, will be affected:
- Import and export of goods to and from EU countries, including associated VAT payments duties
- Management of stock, including transport, logistics, and fulfilment
- Legislative requirements that reference EU regulations
- Industrial environmental standards, including emissions
- The sharing of data between EU and UK
- Mutual recognition of qualifications and relevant licenses (including audit, banking and insurance licenses)
Sage X3 Preparations
The good news is that the transition period should provide most businesses with the respite time they need to prepare for the implications of Brexit. Businesses who deal with EU suppliers should contact them about potential delays of goods, and the potential cost implications. There may be extra costs involved with customs import duties that you formerly didn’t have to pay, and significant administrative overhead, including utilising an EORI number. You might hold data on EU citizens who are customers, or suppliers, in which case sharing it with suppliers or customers in the EU might not be permissible for some time until agreements are in place. View Sage’s blog on “How will Brexit affect businesses” for more information on this and the above points.
Using a robust and comprehensive solution, such as Sage X3, means you are already equipped with the right tools to handle changes in multi-country, multi-territory and a multi-currency landscapes. Sage X3 is able to handle this functionality as standard, so you can rest assured that you are using the right solution with the capabilities to manage further complexities within your business requirements.
Those businesses using Sage X3 through a Sage business partner should, as a first step, discuss with their partner if their system is set up to handle this change and what, if any, preparation needs to take place on their system. Having an agile and responsive partner who is able to use their knowledge and experience to respond to market changes in a swift and meaningful way is essential in these times of change.
Mysoft not only has a Sage X3 dedicated support team but we also have our own in-house developers who are capable of coding whole new areas of functionality in response to our customers’ requirements. We also have an expert team of consultants who can maximise the potential of the X3 system to work in partnership to deliver the complex requirements that we are likely to see as we step forward into the future, all expertly managed by a talented Project Management team.
We also focus solely on Sage X3 which provides us with a unique level of knowledge and experience with the solution, our team collectively has 250 years of experience. We partner very closely with Sage to keep abreast of all the latest changes to Sage X3, as well as changes in the political and economical climate that may affect our customers.
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