21 trends driving the need for business transformation
Here are 21 trends that are driving the need for accounting firms to move beyond compliance and transactional services.
In a rapidly changing environment, how can you grow your manufacturing business, control costs, and increase profitability?
In the past, enterprise resource planning (ERP) software was very effective. Today, Enterprise Management software helps you control business operations, ensure consistent quality, and take advantage of new sales opportunities.
Radically simplify your operations to get the most out of valuable resources.
Manage your entire process manufacturing operation faster and more effectively.
Tsue Chong Company
Many manufacturers are facing challenges like compliance, lack of oversight, and increasingly complex supply chains. The good news is that with Sage Business Cloud, you can:
Recent legislation in many parts of the world has given government agencies greater power to intervene in manufacturers’ operations and more easily demand product recalls and withdrawals.
Moreover, consumers are becoming ever-more demanding of manufacturers, ready to react as soon as their expectations are not satisfied and able to raise their concerns instantly, and very publicly, through modern communication technology. As a result of these factors, product recalls around the world are becoming more and more frequent, and manufacturers are facing major disruption, damage to reputation, and overall financial liability.
Gaining detailed insight into your business can be challenging at the best of times, and manufacturers who lack complete, accurate, and up-to-the-minute data face significant challenges to making timely decisions. Which product is the most profitable? Which supplier experiences the longest delays? How much cash is tied up in inventory surplus, and how much could you invest in growing your business? Without the answers to these questions, many businesses end up making poor strategic decisions and costly mistakes.
Managing supply chains is a constant challenge for manufacturers. In addition to staying on top of key factors, i.e., costs, demand forecasting, production downtime, and inventory surplus, supply chain partnerships are continually changing. What happens if your supplier’s shipment has been delayed? What if supply costs increase without warning or quality changes? Without a fast, accurate method to track progress or communicate, you may be unable to avoid production downtime or plan an alternate manufacturing schedule without hurting your business.
Here are 21 trends that are driving the need for accounting firms to move beyond compliance and transactional services.
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