The digital age has revolutionised the way businesses operate, but it isn’t always easy to know which type of software can be used to improve efficiency and performance. As an accountant or consultant, you may find yourself in a position where you notice your clients would benefit from upgrading their current accounting applications to something more advanced. However, you might not know what modern software to recommend.

Sage accounting software can benefit businesses of all sizes and it’s worth exploring in more detail, regardless of who your client is, the size of their business or what industry they operate in. Our teams at Envisage and Pimbrook are working together once again to provide advisory services to accountants and consultants so they can match their clients with the best Sage solutions, helping them to overcome the challenges they’re currently facing.

Below we have explored Sage software solutions in more detail and touched on the importance of choosing the right Sage partner to guide you towards the best products for your clients.

In today’s digital world, technological breakthroughs are becoming more common. However, nothing has revolutionised day-to-day life quite as much as Artificial Intelligence. Computers having the ability to emulate human thoughts can seem concerning at first and while there are challenges to overcome, the benefits are substantial. When AI is used responsibly, it can transform the way finance departments operate.

AI has been in the media almost daily over the past few months and as the public becomes more aware of the capabilities of AI, it’s no surprise that CFOs and finance leaders are keen to reap the benefits of this technology. There are several ways forward-thinking finance teams can leverage the power of AI technology for finance departments. Various elements of the accounting process could be improved with the right AI tools, significantly enhancing productivity and output.

Overcoming the Cash/Stock Dilemma With Sage 200

As an Award-Winning Sage Partner and expert in the field of distribution, we thought we’d share our thoughts on the cash/stock dilemma, which is something that many warehouse and distribution businesses struggle with, and this is often because they don’t have the right software to manage all the requirements they have. Critically, it’s about the left hand knowing what the right hand is doing. It’s about keeping all departments in tune with each other, so that the warning signs appear before reaching full impact.

 We’ve summarized 7 considerations for this cash/stock dilemma below. If you’d like to read more on this topic, why not download our Cash Stock Dilemma e-book and learn more about how Sage 200 can help address these critical challenges?

Spreadsheets have been a go-to tool for businesses when it comes to organising and analysing data for decades. Many continue to use spreadsheets for financial reporting as well as for monitoring various operational metrics. However, spreadsheets aren’t necessarily the best option available for data analysis now and there are several modern software solutions available that are specifically designed to streamline the reporting process.

From small start-ups to large multinational corporations, companies of all sizes can benefit from updating their systems and using smart accounting software, like Sage Intacct. Although many are currently reliant on spreadsheets, the dashboards and KPIs (Key Performance Indicators) within Sage Intacct can transform the reporting process. As your operations grow and data becomes more complex, there are several limitations to using spreadsheets and now is the perfect time to introduce Sage Intacct into your reporting process.

Below we have explored how dashboards and KPIs can be beneficial when you’re reporting and why they’re a preferred choice to spreadsheets for lots of growing companies.

SMB Distributors in 2023 – Challenging times

SMB distribution businesses are an essential part of the business landscape, providing an extensive range of products and services to organisations in the small and medium business (SMB) sector. Distributors are a reliable and cost-effective resource for growing businesses, helping them to reduce their costs and increase their efficiency whilst meeting the needs of their customers and delivering a reliable service.

Although they play such a key role in the success of small and medium businesses, distributors face many challenges to remain successful and competitive. Both external and internal challenges impact the day-to-day operations of SMB distributors, and being aware of these common challenges can help them to better prepare and manage their business.

Below we have explored just a few of the most common external and internal challenges SMB distributors are facing in 2023. For a more detailed review of these challenges, download our free e-book on this topic.

This is a topic that I am passionate about and I thought now would be the perfect time to write this article. With so much hype surrounding AI these days, it’s both mind-blowing and scary. Only a short while ago, we were amazed by the power and capabilities of AI. As time has passed, its boundaries have become much more blurred. Where can it go from here? What are the societal implications of AI? The other factor that I find both exciting and scary is the speed at which technology is moving. Have humans created intelligent beings with potential to outwit and potentially deceive humans? How is that even possible? Regardless of where you stand on this topic, it's fascinating to see.

No business has escaped the inflationary surge over the past year. During these very uncertain times, many organisations have had to re-adjust and re-calibrate as they try to manage their finances and fluctuating costs caused by inflation.

Higher prices for goods and services impact on production costs, resulting in increased consumer prices and potentially lower profit margins. This can lead to reduced consumer spending, slower economic growth and greater uncertainty for businesses. In addition, rising inflation can (as we have seen) directly affect interest rates and the value of currency, making it difficult for businesses to expand into international markets.

Over time, it isn’t uncommon for businesses to find themselves in a situation where they’re using several different software solutions to manage everyday operations. Many will implement new software as and when their needs change, particularly during times of growth, resulting in an overly complicated and inefficient way of working.

If you have separate software solutions in place to manage things like your accounting, supply chain and customer relationships, you would likely benefit from upgrading to one all-encompassing system. However, the up-front cost of a new system can be off-putting so many will try to convince themselves that they’re coping just fine with their current software and that their inefficiencies aren’t holding them back.

The truth is, your software will have a direct impact on your ability to grow into a thriving business. Using Sage 200 to overcome common inefficiencies can transform your operations and enable you to run a faster, more connected business. Below we have listed some of the most common inefficiencies faced by small and medium-sized businesses, and looked into how Sage 200 can help you to overcome them.

As business owners and executives, we find ourselves with an ever-increasing to-do list and just when you think you're on top of things, it grows longer again. Do we actually thrive on being busy or do we crave a little less chaos and a little more control?

If things are going well and demand is high, then it’s all hands on deck. The sales, operations, procurement and finance teams are all busy, and they will be working away to meet customer requirements. If business isn’t doing particularly well, operations may experience some “calm” time, but other teams like management, sales and marketing will be working even harder to re-imagine, re-invigorate, re-engage and work out a strategy to generate additional revenue.

With all this busyness constantly going on around you, it can be easy for important tasks to get pushed to the bottom of your ‘to-do’ list time and time again. You may find yourself spotting issues when it’s just a little too late and all of your best-made plans for the day being scrapped as you try to find solutions to whatever it is you’re up against. Being hit with several reactive situations throughout the day such as your top salesperson being poached by a competitor, an important project missing a milestone or your best customer being let down with a late shipment, can cause you to take one step forward and two steps back every day.

Just as the world has returned to a pre-pandemic ‘normal’, soaring inflation rates and rising interest rates have caused a huge amount of uncertainty for businesses. Navigating the current economy is proving to be very difficult and even financial experts are struggling to predict what the start of 2023 has in store. That being said, you shouldn’t leave the future of your business to chance, especially in these uncertain times, and planning ahead is highly recommended.

When you’re trying to predict the future, the right software can make things much easier for you. With the help of Sage software and ProForecast, you will be able to make strategic decisions for the future of your business. Now is the perfect time to start using Sage 200 technology to your advantage and analysing past data to assist with forecasting for 2023. Below we have explored how Sage solutions can make strategic planning quick and easy, and help you to make more data-driven decisions.