Midsize businesses have an extensive appetite to grow and find themselves greater business opportunities to join the league of larger enterprises. While some are derived from the big entities, many of the midsize businesses start their life as small businesses which eventually grow organically or via merger into enterprise giants. Whatever the start maybe, the end-objective of every midsize business is nothing but growth.
However, the increasingly tough global competition, rising operational costs, and lack of effective management tools and resources are pressurizing the mid-marketers to find newer ways to run their business. To cope with this increasing pressure while considering the roadmap to growth objectives, mid marketers need to ditch their existing legacy systems that do not support their rising business requirements. Also as commented by:
Robert Sher, Midsized Business Consultant, Forbes:
However, it is not as easy as it seems to be. Mid-marketers have this big-time dilemma of which solution to choose from the several business automation solutions available in the market that could understand their specific challenges and render personalized solutions to them.
Let’s first learn in detail the challenges that are common to all mid-marketers followed by we will move towards the power-packed ERP solution, specially designed to cater to midsize businesses.
What Stunts the Growth Objectives of Mid-marketers?
Mid-marketers struggle with several challenges driven by the stiffer competition in the market, lack of strategic technology supporting their growth objectives, invisibility in the processes due to discrete systems for individual subsidiaries, inefficient communication platforms within the organization, etc.
Let’s see how these challenges impact the business:
1. Businesses Expand but the Subsidiary Systems Remain Old-School
Opening new joint ventures or offices in different geographies increase the number of subsidiaries within the midmarket corporate hierarchy. No matter what the subsidiary unit is handling from sales and distribution to customer services to backend operations, the IT solutions get distressed in these units as:
- Not complete transparency is received to the headquarters related to operational efficiency
- Maintaining intracompany transactions related to buying and selling of products becomes difficult
- Maintaining financial reporting and facilitating a shared services structure is complicated
2. In an Ever-changing Organization’s Environment, Existing ERP System remains a Static Beast
Midsize businesses are prone to get wrapped up in the fantasy of expecting unconventional features from their existing legacy ERP systems that they are never designed to deliver. This is because, at the start of the business, features like future-ready, scalability, and agility to adapt to changing industry and business conditions in an ERP are not kept in mind.
This is in the long turn creates hassles within the organization as:
- Evolving business needs in the processes lack digital essence
- Keeping up with the growing customer base becomes difficult
- Managing end-to-end functionalities with speed and efficiency remains a challenge
3. Implementing Complete Country/Region Localization While Expanding Scares the Most
Indeed it is! Determining and implementing the whole set of legal rules and regulations specific to a country or region while expanding midsize business globally or locally respectively in discrete systems is too complicated and time-consuming.
- Failing to standardize transcription creates trouble while understanding the intent of the customers
- Identifying regulations and business practices of the targeted area/country is difficult
- Satisfying local tax-related reporting and legal regulations are complex
Back your Growth and Diversification Capabilities with State-of-the-art ERP Solution – SAP Business ByDesign
Expand beyond the walls of your midsize business and embrace the real-time changes, hidden growth, and diversification opportunities with agile, future-ready ERP solution, SAP Business ByDesign. Ideal for mid-size companies seeking future-growth, acquiring new entities, or adding subsidiaries, SAP Business ByDesign is the best ERP system for large companies and midsize businesses; it is a scalable solution that seamlessly integrates offices across the globe.
Below are the supporting features and functionalities of SAP Business ByDesign that encompasses everything you need in an ERP system to embrace your growth potential.
1. Integrated Subsidiaries and Headquarters with Multi-company ERP Model
SAP Business ByDesign being intelligent, Cloud-based, multi-business management software helps in improving control, visibility, efficiency, and traceability within the subsidiaries and across the headquarters of the organization. It centralizes the data centers, improves cross-functional processes, and provides an integrated view of the entire organization. With rich functionality, a Cloud-based delivery model, embedded analytics, and multiple integration scenarios, SAP Business ByDesign is a perfect two-tier, multi-company ERP model to unify your Headquarters with Subsidiaries or new entities.
2.Future-ready with Constant Scope of Improvement
With growth ambitions, you make a significant number of changes within the organization to swift turnaround times, motivate employees, satisfy customers, and adapt to the changing market conditions. SAP Business ByDesign ERP software embraces the organizational changes by acting just like digital fabric spread across your entire organization and with the capability to stretch even beyond to embrace growth and diversification missions.
3. In-built Localization Toolkit
With the advanced toolkit features, SAP Business ByDesign software enables you to extend or adapt the software as per the customer-specific processes and the localization needs. These capabilities are integrated into the SAP Business ByDesign Solution and implemented via SAP Cloud Application Studio or provided as enhancements such as extension fields. That is, this toolkit helps the user to create software artifacts like additional configuration content, additional forms/reports, application exit implementation code, etc. making SAP Business ByDesign, an ERP for multinationals. However, all regulations need not be implemented but the ones concerning the business processes that the subsidiary or customer uses.
To Sum it Up
SAP Business ByDesign is a future-proof, next-gen solution built to support your growth potential with added functionality and integrations as per the need of the users. By connecting all the core business processes within the organization and with that of local or global subsidiaries, the software empowers you to make more informed decisions.
Also, its capabilities of handling multiple operational entities, currencies, accounting/finance, and reporting standards support you to scale at a global level. The system can efficiently address your overseas market requirements and integration without setting borders as the limit.
More than 5200 entities are already Using SAP Business ByDesign in over 144 Countries
It’s your turn to think big this time! Grow your midsize business in a successful large enterprise backed by SAP Business ByDesign. Get in touch with us. We at Uneecops, with our expertise in transforming businesses, will help you design your growth strategy.