The world cannot stop drinking tea. The most popular beverage in the world after water, the consumption of tea has only continued to rise. In fact, global annual tea consumption is expected to hit almost 300 billion litres by 2021. From the simple joy of a great taste, providing a nice break and several health benefits, to playing a role as a complement for good conversations, everyone has their own reasons for drinking tea. One thing’s for sure, tea is part and parcel of our daily lives.
Established in 1929, BOH Tea is the leading tea producer in Malaysia and an award-winning company built on the belief that a cup of tea consists of so much more, that it has the power to bring people from all walks of life together. With this belief and the desire to let innovation and integrity guide their every move, the company has since gone from strength to strength; from its position as a longstanding market leader in the Asia-Pacific region to being firmly established as one of the finest tea specialists in the world, and masters of the art of tea from tea bush to teacup. And we are proud to have Sage 300 play a part in ushering in this new era for BOH Tea.
As BOH Tea is one of the only fully integrated tea companies in the world that grow and market their own product, it is of utmost importance that each stage of their production process runs as effectively and efficiently as possible. But how then, has Sage 300 helped the BOH Tea cause? It’s simple, Sage 300 makes it easy to stay on top of running the business which allows the BOH team the freedom to focus on the things that really matter, such as fulfilling their mission to create great-tasting and distinctive teas of uncompromising quality.
Real-Time Data and Actionable Reports
With an ever-growing emphasis on businesses to become more competitive and lean, the ability to track your company’s financial health on the fly becomes a strategic priority with the impact it can make on performance. And with high levels of financial visibility and actionable insights, Sage 300 gives companies like BOH Tea a competitive edge.
The up-to-date reporting enables businesses to know how all the different elements of their operations are doing at any moment with just a click. This better understanding empowers them to be more proactive when it comes to their business needs and goals with the ability to react, reorganise or restructure faster. And in a market where time is money, this can change the trajectory of a business.
Additionally, the automation of and immediate access to such information gives companies the ability to reduce the possibility and impact of errors. Be it through fewer manual data errors such as transposing numbers or the capacity to spot mistakes and suspicious activities sooner.
Simplified Vendor Boarding and Invoicing system
A poor performing vendor or troublesome vendor relationship often impacts the brand negatively, be it economically or through reputational damage. Sage 300’s simplified vendor boarding and invoicing system makes supply chain management a whole lot more streamlined and effective. It ultimately allows companies to establish expectations with vendors and take charge of their performance, leading to stronger and mutually-beneficial relationships. In the case of BOH Tea, it helps facilitate real-time collaborations with their different vendors.
Sage 300 automates the payment, billing and collection processes to suppliers and vendors, and can even be used to issue refunds. This helps cut the cost of invoicing, from what was several dollars per invoice to just a few cents. It also assists with inventory management and prevents the cost of accumulating excess stock. This allows BOH Tea to align purchase processes with organisational goals, increase productivity and lower waste. Factors that all lead to an improved ROI.
Automated Tax Compliance
With BOH Tea recently exporting their product to nations such as the USA, Denmark, Germany and South Korea, it is of utmost importance that the company abides by the different tax regulations of each country. Handling such tax and finance matters requires attentiveness and is an extremely time-consuming and complicated task. Manual monitoring of tax filing through spreadsheets can also potentially lead to mistakes which result in fines and penalties. Employee time and the hiring of experts add up as well. The automated tax compliance feature of Sage 300 cuts out these potential problems by ensuring the accuracy of BOH Tea’s tax compliance while reducing the guesswork, high costs and drains on the business.
It tracks tax regulation compliance by ensuring that rate calculations are more accurate, returns are always filed on time, exemption certificates are adequately managed and made accessible, and that the company is registered in all the right locations. It also provides the company with a location for all important tax-related documents, creating a paper trail that can be used during audits. The more complicated tax rules that entering international markets bring are now navigated with ease as well.
Sage 300’s customised dashboards also enable BOH Tea to effectively monitor the health of their business across the globe in real-time, ensuring that the company is always on track to meet targets or to adjust them if required. This is crucial given that BOH Tea is competing with international tea players.
Providing a detailed and clear understanding of information and events that are present thousands of miles away, the dashboards reduce time and the reliance on weekly or monthly reports filed by managers abroad. The capacity to build multiple unique dashboards, alongside the customisability, allows businesses to provide the relevant personnel with key information according to their role in the organisation. All these enable key decision makers to have their fingers on the pulse and all the right vitals of the business, empowering them with access to key management functionality and data whenever and wherever. And with 24/7 tech support available, it makes global business even easier to manage.
The Way Forward
In the rapidly-advancing world of today, it is paramount that companies become more proactive in their business processes by adopting the relevant technology to stay ahead. And Sage 300 is designed to help all types of businesses, big or small, make that step in a cost-effective manner.
In the case of BOH Tea, their utilisation of Sage 300 has enabled them to thrive internationally, rapidly turning a truly Malaysian experience into the world’s cup of tea.