If I said ‘AIDA’ or ‘GAAP’, would you know what I meant?
Acronyms. Don’t you love them? The world of business is full of acronyms, from ARR (Accounting Rate of Return, if you didn’t know) to ZBB (Zero-Based Budgeting), but possibly the most important and valuable acronym you should be aware of as an enterprise level business is ‘ERP’.
Enterprise Resource Planning, or ERP, revolutionises business performance through integrating business processes into one simple and secure cloud-based platform. According to one leading business software advisory firm, nearly 50% of companies are planning to, or have already started to acquire or upgrade an ERP system in recognition of the fact that it’s becoming a priority investment for business growth.
When it comes to choosing a platform for your business to grow with, there are a few top performing solutions - Sage X3 being one of them. Sage is a safe pair of hands, with over 35 years of experience catering for the software requirements of all types of businesses worldwide.
If you’re looking to utilise Sage X3 as a solution for your business, it’s essential to understand its core capabilities and know how it allows your business to become faster and more efficient, deliver successful growth and adapt to the ever-changing industry landscape.
Sage X3 is more than just your typical ERP and there are 3 key areas in which it excels: financial management, production management and supply chain management. In this short article, we’re going to break those down and summarise the key benefits of each element.
With Sage X3, you can connect and track all financial activities from your headquarters to subsidiaries to ensure that business decisions are based on accurate and comprehensive financial information that is always up to date:
- Budgets and accounting - incorporating financial, revenue and cost accounting, commitments and transfers for improved control and smarter real time decision making.
- Financial reporting - providing your team with the information they need to make faster and more strategic decisions with real time alerts and analytics.
- Compliance – a single instance of Sage X3 can cater for your requirements across multiple companies, currencies and national legislations, ensuring that you remain legally compliant for tax and accounting purposes, as well as providing the consistency that you need from a group perspective.
- Fixed assets - the ability to track assets throughout their entire lifecycle.
The second core capability surrounds Sage X3’s ability to get your business to market quickly, by efficiently managing all of your manufacturing processes through one platform. Production management in Sage X3 offers solutions to inefficiencies in areas such as:
- BOM planning - delivering a robust management system to ensure the highest levels of product consistency, quality, collaboration and cost control.
- Shop floor control - offering efficiencies on the shop floor with tracking, improved planning, scheduling and costing.
- Quality control - giving businesses the tools and workflow capabilities needed to maintain and retain the highest quality standards, including proactive monitoring through complete product traceability, lot and serial number management, use by date management and non-conformance and quality control records.
Supply chain management
Greater supply chain visibility and control means efficiency savings in all areas of your business. A successful supply chain management strategy enables a business to keep up with demand and ensure optimal efficiency through real time monitoring of inventory status and supplier performance:
- Purchasing - seamlessly manage the purchasing process from start to finish, from RFQ’s and integration into the price list base, through to order, receipt and invoicing, including multi-level signature management.
- Product category management – manage stock and non-stock products, including pricing and discounts, reordering rules, product costings and stock management rules.
- Inventory management – keep up with demand through location management, inventory balances, quality control, order release, stock movements and much more.
- Sales management - provide the best customer experience while improving your top line performance with quick and easy access to information such as pricing and discounts, real time stock availability, on-time delivery and invoicing and reminders.
Read more about how you can:
- Manage your suppliers with Sage X3
- Optimise your stock with Sage X3
- Accelerate sales with Sage X3
And there’s so much more: Running alongside each of the above are Sage X3’s powerful automation and integration capabilities, meaning that you can configure your solution to suit the day-to-day needs of your users and your business overall, but also connect to best of breed solutions that are unique to you and your industry.
In summary, Sage X3 provides your business with all the tools you need to thrive and stay competitive by enabling users to utilise data in order to eliminate inefficiencies, improve customer satisfaction and take control over processes, people and quality. This allows your business to adapt quickly, embrace industry best practices and trends and streamline core processes.
As a cloud solution, Sage X3 replaces outdated legacy systems and allows you to update to the latest technologies which offer secure servers, less impact on your IT infrastructure and access from anywhere. Sage X3 provides your business with a faster, more intuitive and tailored business management solution than conventional ERP.
Download the Sage X3 brochure to find out more.