November 27th, 2024
Managing your business operations has become an increasingly complex and daunting task. With digital transformation becoming a key component of business growth, ensuring all your systems communicate and collaborate is key for smooth data and resource management.
SMEs need the flexibility to integrate innovative technologies that can have massive business impacts as and when advancements occur. For example, generative AI is one such technology that has created enormous business potential in recent years alone, leading many businesses to want and need rapid integration of the technology with their systems.
Enterprise resource planning (ERP) is key to ensuring your supply chain management strategy can galvanise business success. ERP systems are designed to accommodate and coordinate activities across each part of the supply chain, from raw materials to customer products, effectively helping meet customer demand while controlling manufacturing costs.
SMEs can see the biggest benefits from onboarding an ERP strategy into their supply chain operations. This includes improving efficiency across supply chain functions, as companies can streamline operations through automation whilst also increasing their visibility across the supply chain for informed decision-making capabilities. ERP systems facilitate better planning and scheduling, which also adds to helping businesses ensure they can reliably fulfil their promises to customers through consistent performance and accurate delivery.
Taking it one step further, with Invoz
It is not just as simple as ensuring that your enterprise has a resource planning strategy and software in place, but also ensuring that it is the best for your business operations.
Experts at Gartner have already identified that by 2027, more than 70% of current recently implemented enterprise resource planning (ERP) initiatives within SMEs will fail to meet their original business case goals fully, with as many as 25% of these predicted to fail catastrophically.
Gartner has also already recognised that 75% of SME ERP strategies are not strongly aligned with their overall business strategy, which is leading to further confusion and lacklustre results. Effective enterprise resource planning is key to ensuring that the strategy created is attainable for each business on an individual basis.
It is not just enough to understand the benefits of onboarding ERP anymore, as SMEs must also take steps to replace their legacy ERP with more flexible capabilities. This also means being pragmatic when it comes to onboarding AI-enabled approaches (generative AI in particular) and how these may affect supply chain manufacturing and finance operations.
Invoz supports with this process, bridging the ERP of both buyer and supplier. This will allow a supplier both SMEs and Corporates to align their ERP business case to maximise their liquidity when trading with key buyers in the local market. With added transparency, reliability, and efficiency, Zvilo can fund the different liquidity gaps at any time between supplier and buyers, who are all connected to Invoz platform via their ERPs.
Further our Invoz solution will use AI to mitigate risks across supply chains via business partner collaboration. By playing a critical mediary step in managing and forecasting liquidity, based on trade volume, Invoz will provide real-time insights, automated cash flow management and help businesses make more accurate projections about their future financial needs. Invoz is built to provide detailed scenario modelling to help forecast how businesses may be impacted for liquidity. This means taking the benefits of legacy ERP one step further; we do not just provide visibility across current supply chains, but the business of the future, ensuring that we are there every step of the way to galvanise your supply chain operations and growth.
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