Still running your business with accounting software? … If so, why?

Still running your business with accounting software? … If so, why?

We sat down with Simon Jupe, Managing Director of Fishbowl Inventory Asia Pacific, he explains there is a better way:

A comment I once heard at an event run by Business and Wealth Coach, Brad Sugars – has always stuck with me, it was:

“The goal of an entrepreneur is to build a business that operates successfully without YOU”.

Like many entrepreneurs, I have always had a passion for business. That inbuilt drive to create a successful business, one that delivers outstanding products and services to customers while being a rewarding place for a team to work, has always been the flame that ignites my entrepreneurial spirit.

Over the past 20 years of implementing software into businesses as an Accountant and Business Consultant, it has always fascinated me how the majority of inventory and manufacturing companies I have met build their operational business systems based on their accounting system, instead of putting the focus on meeting their customers’ needs.  To me it always seemed around the wrong way around.

Surely, if you focus on consistently meeting the needs of your customers first, you will build a successful business!

I have come to realise that the driver for this is that many businesses start off with their most trusted advisor – their company Accountant or Bookkeeper.  Now don’t get me wrong, I AM an accountant. Having a close relationship with your financial advisor and a good Accounting system is critical for success in business.

But is the decision whether you use Xero, QuickBooks or MYOB going to drive the success of your business?

When you break it down, accounting is accounting. Whether you are a Distributor, Hairdresser, Manufacturer or an Architect, every business ends up with a Profit & Loss and Balance Sheet.

In the same way that a restaurant doesn’t run their front counter with Xero or Excel spreadsheets, but instead uses a specific POS software that manages their table-seating and kitchen orders.  Or a Hotel uses a reservation booking system to manage their client reservations; why would a company that manages stock in a warehouse or manufactures a product, try to run their business with an accounting system?

Are you still using your accounting software as operational software?

If so, pause and ask yourself “why?”

Since first hearing that comment of Brad Sugars, many of the decisions that my team have helped a lot of our clients make over the years, have been based around building a business that operates successfully and achieves its goals without relying on them, or their accountant day to day.

Now I am not for a second saying that your accounting system is not important. The Accounting software a company uses is very important and is a necessary part of every business. But your Accounting software should be just that, a tool to manage your business transactions and finances.

It’s a tool that should be used at the end of your workflow, not at the beginning.

This is how inventory and manufacturing systems such as Fishbowl help companies reach their potential and successfully grow to the next level. They help stock-based businesses to know what stock they should be holding, and to ensure they deliver to their customers in full and on time.

Most of all, they help you build a business that operates successfully, even without YOU!

Simon Jupe

Managing Director, Fishbowl Inventory Asia Pacific

If you would like to talk to Simon and the Fishbowl Inventory team more about this in relation to your business please do reach out. We are always here to see how we can assist you and your business on your journey to business success.

Every day we hear from companies looking for a solution to help them to run their business better. Often they have reached the limit of what they can do within their accounting system and Excel spreadsheets, and many are desperate for the advantage that Operational Software such as Fishbowl offers.

 With correct Operational Software powering your business, you gain:

• The ability to deliver customer orders in-full and on-time with efficient backorder management.
• Accurate margin reporting through knowing the true cost of your inventory with landed costs and accurate manufacturing cost roll-up.
• Transparency of your stock movement and stock turn – Excess stock on the shelf is tied up working capital that is collecting dust.
• Agile custom pricing levels as your relationships with customers evolve in a competitive market.
• Ability to meeting industry regulations and requirements with tracking such as serial, batch or best before dates, or custom form design and reporting
• Flexibility for your business to grow and expand with multi-warehouse functionality.

The way you grow your business should be your number one focus. If you do have the right systems in place you will succeed and grow.

Imagine the possibilities of what your business can achieve when your Operational System allows you to put the focus on meeting your customers’ needs front of mind!

CASE STUDIES

Here are some examples of companies that have flipped their script and started to focus on running their business not their accounts:

Wholesale & Distribution: Durmaz Pty Ltd

Durmaz Pty Ltd is a specialist Importing and Wholesale entity that extensively sources and ranges value for money products that are specific but not limited to the discount variety retail sector. Read More …

“Within the first 4 months of implementation, our initial investment has been recouped 5 times over.”

ALFRED MAZZAFERRO

MANAGING DIRECTOR

What do others say about how Fishbowl has helped their business?

We love seeing companies benefit as a result of introducing Fishbowl in their business. Here are some of their thoughts on how Fishbowl has helped them:

“We have used Fishbowl for just 18-months now. As a result, it has enabled us to expand our business and open two new warehouses in two different Australian States.”

“We absolutely could not have grown so quickly without using Fishbowl in our business.”

ANDY LEE

MANAGING DIRECTOR, SECUSAFE

“Fishbowl is a key inventory system that has developed into so much more for us. It helps in all Manufacturing processes and has FANTASTIC reporting.”

“Why did we buy Fishbowl? We wanted a Manufacturing system that was able to grow and adapt with our business and set us apart in our industry.”

EMMA SHEPHERD

OPERATIONS MANAGER, DOLPHIN PLASTICS

“Fishbowl has definitely brought everything together and it’s also helpful that we’ve got Fishbowl within our 3 businesses because we’re able to use it together and the visibility of the inventory and where everything is at with the sales orders, and the access to the data and reports that we can create from it just make it all so much easier to handle.”

ALEX PALLOT

IT MANAGER, EVERTEN GROUP

Is it time for you to focus on the operations of your business?

Book a time for a personalised, one-on-one meeting with one of Fishbowl Solution Specialists to discuss your businesses operation needs, and investigate just how Fishbowl can improve the success of those operations.

Fishbowl has been successfully developing and implementing inventory management software for 20 years!

We love helping businesses to become more efficient, more accurate, and more profitable. 

Contact us to see how we can help you.

1300 785 755 (AU) or 0800 785 755 (NZ) 

solutions@fishbowlinventory.com.au

www.www.fishbowlinventory.com.au

Outgrowing the capabilities of your current business software is a very common situation when we are talking with companies. We would love to speak with you so that we can help you put together your ideal Eco System, and show you how advances in technology now allow for a fully integrated business solution with Fishbowl at the heart of your operations.

Call or email us today and one of our experienced Solutions Specialists will contact you to find the perfect fit for you and your business.

CONTACT US

Contact one of our amazing Client Solutions Specialists to have a chat about your frustrations, and let us show you how Fishbowl can help your business to grow.

Fishbowl has been successfully developing and implementing inventory management software for 20 years!

1300 785 755 (AU) or 0800 785 755 (NZ) 

solutions@fishbowlinventory.com.au

www.www.fishbowlinventory.com.au