Five features a multinational firm needs to look for in its ERP solution

Operating a multinational business comes with a raft of challenges – not the least of which is effectively integrating tools, systems and processes across of the locations in which you operate.

For multinational firms or those with multiple subsidiaries or franchises, having a consolidated Enterprise Resource Planning (ERP) solution is vitally important.

However, not all ERP systems are created equal – and choosing the right solution, as well as the right partner, is essential. In fact, according to a recent article by Gartner, 75 per cent of all ERP projects fail – due largely to issues such as cost blowouts, unexpected complexity, and failed integration.

At Leverage Technologies, we specialise in ERP and have been helping businesses implement reliable, efficient ERP solutions for close to two decades. More than 250 companies in Australia trust our nationally accredited consulting team to streamline their processes and drive better business results.

Based on this experience, here are five key features that we believe a multinational or multi-subsidiary business must consider when selecting an ERP solution.

#1 – Sophisticated integration

Perhaps the most crucial feature of a reliable ERP system is its ability to integrate your existing business systems and provide you with consolidated, overarching insight. This is crucial if you operate in multiple locations and with various subsidiaries; all of whom may have their own, unique systems and processes.

SAP Business One, for instance, centralises all of your key business functions, across accounting and finance, inventory, sales, customer relationship management (CRM) and more.

By bringing all of your core business activities together on a common software infrastructure, you can eliminate disparate processes and the need for multiple, disjointed spreadsheets and databases. You can also make faster decisions, seize opportunities, and rectify potential issues before they escalate.

#2 – Two-tier management 

If your business operates with multiple offices, subsidiaries or franchises, you need a technology solution that can enable your subsidiaries to operate with relative independence. Too much standardisation can get in the way of innovation, and individual subsidiaries need room for flexibility while working within your overall business framework.

This is where choosing a solution that enables a two-tier ERP strategy can help. With a two-tier model, you can preserve your ERP investments, yet give your subsidiaries the business management tools they need.

When you choose SAP, you can implement an ERP application for your larger operations, yet give your subsidiaries access to SAP Business One, which is more suited to small or mid-size operations. The two solutions can then be integrated into a single, coordinated operation – bringing together all of your processes, applications and data.

#3 – Cost-effectiveness

Regardless of the overall size of your business, it’s important to consider the individual needs of your individual offices and locations when selecting ERP solution. You don’t want to end up paying for scope or volume that you simply don’t need.

SAP Business One, for instance, is priced specifically and ideally for small and mid-size businesses. It also features a cloud deployment model, which means individual subsidiaries can deploy it in their private cloud if they choose.

#4 – Real-time insights/business intelligence

 To operate as efficiently as possible, you need to have real-time insights at your fingertips, 24/7.

With SAP Business One, you can readily connect to other applications in your business network, and across your enterprise, to synchronise data in real time – ensuring streamlined and consolidated insight. SAP Business One also incorporates leading business intelligence, so you can build compelling reports, and accurately track revenues, costs and cash flow with ease.

#5 – Efficient tools and processes

 Another vital feature of a quality ERP solution is the way in which it enables more efficient, productive ways of working.

With SAP Business One, you get a complete set of tools to help you manage and streamline everyday tasks. This includes accounting tasks such as maintaining ledger and journal entries, supporting tax calculations, and enabling multicurrency transactions. It also helps you conduct all of your banking activities – including processing bank statements and payments, as well as reconcile accounts, manage cash flow, track budgets, and compare actuals versus plans to see where your business stands at a moment’s notice.

How can Leverage Technologies help with your ERP implementation?

Choosing an ERP solution – or upgrading from your existing solution – can be challenging. Give us a call 1300 045 046 to discuss the options for your business, and find out how we can help.

To find out if SAP Business One is right for your business, call us today on 1300 045 046 or email info@leveragetech.com.au.