ABM Advisor: The ABM Blog

  • Oct 12 2016

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    3 ways you can benefit from online retail management

    If you've already entered the online shopping world, you'll know some of the trials and tribulations that accompany the process. In a world rapidly embracing the move to digital, an online version of your store is a logical choice. For many though, the move to online isn't accompanied by a team of marketers, accountants and social media professionals.As such, it can be difficult to juggle the responsibilities of an online store concurrently with an online presence, which is where online retail management software can help by removing some of the pressure to allow you to be focus on the areas of your business that need attention.Below are just three ways that freeing up resources through business accounting software will help you approach your online venture in a much smoother manner.Over 90 per cent of the public are turning to social media to help make buying decisions.Better sales managementimplementing automated accounting software into your business will greatly increase your ability to manage and track sales. Starting with our core accounting software, you can add a number of optional modules that can assist in managing your e-commerce project.The Advanced Business Manager Structured Stock module is designed for businesses that wish to track and organise their stock more efficiently. Featuring a flexible structure that allows for user-defined attributes, improving your sales through better recording means you'll always have full awareness of stock levels.More connection with your customersHaving greater control of your stock levels means you'll have more time to interact and reach out to your customers.This can be the deciding factor for many businesses moving online - maintaining a level of engagement with your customers that encourages them to keep coming back to your business is almost as important as having a popular product in the first place. Could your online store benefit from accounting software? If you don't see the importance of social media, then there are some troubling statistics you may want to see. According to Slant Marketing, Facebook accounts for 64 per cent of total social revenue. Even more telling, Magento reports that 93 per cent of the public are turning to social media to help make buying decisions.Analytics helps further the processHaving more time to reach out to your customers is only helpful if you've got something to say to them. The Business Intelligence module presents your business data in an entirely new way: Real-time reporting without delay.Analytics is also helping businesses predict trends in the marketplace, by identifying popular products, promotions and areas of your site your customers are more engaged with. If you want to discover the power of the software for yourself, get in touch today for a free demo.

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  • Sep 14 2016

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    Will humanoid robotics change manufacturing?

    The world is growing undeniably digital.The progress we've made in computing and cellular technology alone has afforded almost every one of us a device that can fit inside our front trouser pocket and enables us to access nearly every piece of information known to man in an instant. Everything we do is increasingly virtual, from shopping and dating, to attending university and posting our most intimate secrets online. A rise in digital ways of living are bringing rise to another form of advancement however: electromechanical manufacturing. If a global adoption of robotics in all sectors is successful, the manufacturing industry will see an even greater spike in production.A helping hand from roboticsUsing machines in manufacturing is by no means a new idea. A quick search around the internet will show that recently, many are wondering if their jobs will be replaced by automated robots, however these mechanical assistants have been widely employed in many industrial positions starting back in the 1960s. The adoption of robotics was an enticing option for many mass-production corporations, as they can be programmed to perform incredibly accurate actions repeatedly and without variation.However, these machines aren't robots of the humanoid variety, but more mechanical arms that are set to defined parameters for direction, acceleration, velocity, deceleration and distance. But if this iteration of robotics has been present in manufacturing for over fifty years, why has the topic been recently met with such controversy?Machines more popular than everAccording to PricewaterhouseCoopers, the number of global published patents for robotics technologies passed 5,000 in 2013, the highest ever recorded and a sharp increase from around 1,400 in 2004.Interestingly, an increasing number of industries outside traditional manufacturing are investing in robotics startups. If a global adoption of robotics in all sectors is successful, the manufacturing industry will no doubt see an even greater spike in both robotics implementation and production. One popular opinion is that with machines taking many of our jobs, the world will see little growth and many members of the population will become unemployed, while another points out that an automated society will provide cheaper products and greater personal freedom.  Industrial robotics is just the start of the mechanical revolution. However, just looking at the profound effect that robotics had in manufacturing automobiles alone, if these machines can be put to greater use across our society, there is no doubt we will all benefit. We at Advanced Business Manager are no strangers to automation, with our comprehensive accounting and business management software automated to ensure the absolute minimum amount of time is spent on data entry.

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  • Sep 29 2016

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    Will data be the new business commodity?

    Accounting software is the key to automation in business - and something you should definitely take note of. Technology isn't just making our lives easier and work more efficient, it's forcing an evolution in how we view customers, business and data altogether.Why is this exactly? There could be two significant contributors to the coming change - if it isn't already upon us - but many people have happily gone along with both for quite some time. The two factors are:Payment processing is a gargantuan industry - even the smallest fees placed on digital payment processing cause a staggering amount of revenue generation. Transaction cycles have changed from paper invoices and data entry to just digital - not many people are realising the true value of data, despite embracing the move away from physical paper processes.Let's take a closer look and explain why each is crucially important to managing future business operations. 

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  • Sep 29 2016

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    How software can help track your business assets

    Small businesses have a unique issue that accompanies them. By definition they are unlikely to have a large number of staff, with the Australian Securities and Investments Commission classifying a small business as having less than 50 staff members.Staff work a little harder, financial decisions are more important and, crucially, your assets are vital to your success. Unfortunately, despite having a reduced number of employees, small businesses often may not have a system in place to monitor their day-to-day basics.Having more locations and reaching more people is undeniably one of the goals for many businesses.Keeping track of your business assets both large and smallA large company that has a few hundred staff will have processes to monitor every asset within the business, from valuables such as computers to minute aspects including paper clips.While a smaller business may not feel the need to account for every individual component, the need for reliable software will grow rapidly as your company does.The obvious advantage of implementing asset management software into your business is having a reliable and accessible database. People are working remotely more than ever, as our laptop and smartphone technology enables fast and on-the-go communication, and many of our businesses are following suit.It's not entirely uncommon for business to consist of small pop-up shops or stores, diversifying their customer base by expanding physical locations. Having more locations and reaching more people is undeniably one of the goals for many businesses, but ensuring an accurate inventory of your assets and their health is crucial to this.As your business grows, you'll no doubt have more to keep track off. By implementing a system during the growth of your business, there will be less risk of having to implement new processes later, but the real benefit is from ensuring accurate monitoring of your assets in the present. Keeping track of your business assets is easy. Approachable software puts success in your handsAdvanced Business Manager software is presented as a core accounting system, with an optional asset management module to offer comprehensive tracking for your business.Here you can monitor all the assets of your business, including their maintenance, the annual depreciation or leasing schedule. A simple user interface allows you to manage your asset inventory from a central screen, with purchases, disposals and more within a single box.To learn more about our software, and to discover some of the other optional modules we can provide for your company, book a demo with Advanced Business Manager today.

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  • Sep 30 2016

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    3 reasons why software sees a big future for small business

    If you're starting a small business, one of the first hurdles you may encounter is taking the leap from a simple accounting system to something more complex. As your company grows, so do your responsibilities - causing you to reassess how you allocate your time and business resources.The current economic marketplace is uncertain as well; with so much competition from both brick and mortar stores and the ever-growing e-commerce sector, ensuring that your business performs during startup and into a place of maturity will require assistance.While there are many people you can hire to help with a number of tasks, implementing business accounting software into your organisation can save time without having to hire additional staff. Let's look at three ways this can help a company during the initial stage.

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  • Oct 7 2016

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    Manufacturing the future at the Tesla Gigafactory

    If we want the actions of our lifetime to herald in the robotic future, there are a number of significant hurdles we'll need to overcome. People from all over the globe are pouring tireless levels of effort into projects and experiments that will advance our species.However, we're only just touching the surface of what technology is offering us the chance to do - even in the present. Facilities like the Tesla Gigafactory are looking to propel our society into the future, by producing low-cost batteries using manufacturing processes powered by renewable energy.The Tesla Gigafactory will be nearly 6 million square feet when finished - and aim to be entirely carbon-neutral.The Gigafactory will change battery productionThe goal of the gargantuan factory - projected to be almost 5.8 million square feet when construction finishes - is to be a carbon-zero facility that furthers the exploration of battery and solar technologies. But how will this change manufacturing and the industries that depend on it? Tesla batteries could change manufacturing. The ambitious head of Tesla, Elon Musk, believes that within the space of a decade, the demand for electric vehicles each year will reach 500,000. To achieve this, Tesla would need to use the world's supply of lithium-ion batteries - forcing researchers to further examine the viability of other energy storage materials.Solar panels are more powerful than ever beforeJust this year, we've seen scientists at the University of New South Wales making flexible solar panels from copper, zinc, tin and sulphur. While solar panels have steadily increased their efficiency levels over the years, the progress made has been too slow for it to represent any significant technological leap.If the Tesla Gigafactory is successful, however, it will radically alter the way we look at manufacturing. Powering the factory through renewable sources will allow Tesla to create cheaper batteries, cars and any accompanying technology.Ideally, this is what will be needed from manufacturing in the future - the industry taking note of public concern for the environment while still striving to further our society. It's risky, but the payoff would mean an incredible triumph. Supporting this success demands quality, efficiency and productivity - without any detriment to any from the other. It's these three key elements that the Advanced Business Manager Manufacturing System is designed to simplify - meaning you'll have more control in how you organise and manage every area of your manufacturing.To learn more about our software, get in touch today for a free demo. 

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  • Aug 22 2016

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    Construction boom highlights a need for tech-based project management

    Technological advancements have made digital disruption a commonplace term across industries - and the construction sector is no exception.According to the McKinsey Quarterly, construction projects across the globe are in dire need of a more digitally-focused approach. Yet, so far, the construction industry has been slow to adapt digital approaches to various functions.In fact, McKinsey found that in some markets productivity for construction companies has seen a decline for the first time since 1990.Moreover, large construction projects are not only taking more time than planned but are costing considerably more than projected. According to the report, these projects can be up to 80 per cent over budget, with completion rates taking 20 per cent longer than projected.There are a lot of factors that play into the construction industry's slow adoption, including roll outs across multiple sites, sectors and regions. However, the time has come for construction leaders to truly adopt tech solutions that can help address these project management issues.

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  • Aug 12 2016

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    Managing risk in the food industry

    While there is no way for a company to truly predict every disaster it will face - having risk management policies in place can help soften the blow of business disruptions and sometimes prevent the problems altogether.In the food industry, risk management is of particular importance as missteps can result in more than just productivity problems. When food businesses slack on their policies, consumer health can be put at jeopardy as the mismanagement of food products can cause major illness outbreaks.Risks are something businesses are exposed to on a daily basis. Whether it is an internal failure or an external event, there is a seemingly endless list of things that can threaten business productivity at any given moment. Some of these risks are even serious enough to jeopardise an organisations' survival.According to CPA Australia's Risk Management Guide for Small to Medium Businesses, solid risk management policies can result in a variety of advantages including:A decrease in insurance premiumsA diminished chance of being targeted by legal actionA decrease in cash/stock lossesA reduction in business down timeSo, how do businesses go about better addressing their risk management protocols? The first step involves identifying the potential risks not only for your industry as a whole but for your particular business.  Planning for potential risks early on can better protect your business in the long run. What risks should you be aware of?In a contributing article for Food Processing Magazine, Vice President of the Food Industry Division at SullivanCurtisMonroe Craig Kwitoski laid out some risks that specifically pertain to the food industry. According to Kwitoski, comprehensive risk management of these areas can not only salvage a business' livelihood but improve profitability in the long-term.Supply chain risk: Compared to other industries, the food sector is particularly reliant on its suppliers. However, there is a long list of things that can interrupt supply delivery. Whether it be an internal problem with the supplier or a natural disaster, shipments of products can easily be tied up, explained Kwitoski.When a major supplier is out of commission, food businesses can suffer major losses both financially and in terms of productivity. Leaders can take a variety of approaches to addressing this industry risk, from securing coverage with business interruption insurance to varying suppliers to avoid too much dependence on a single source. The important thing is to address this potential problem before it presents itself as a major roadblock.Without the proper plans, food businesses can suffer major financial losses.Food health safety risks: One of the biggest risks associated with the food industry is health. Products need to be stored at certain temperatures, expiration dates need to be monitored, cross-contamination needs to addressed and the list goes on. This area is of particular concern when you consider the number of food poisoning cases in Australia annually.According to the Food Safety Information Council, there are 4.1 million cases reported per year, 31,290 of which result in hospitalisation and 86 of which result in death. Leaders in the food industry can address this particular risk by implementing better internal procedures for monitoring inventory. Advanced Business Manager's inventory functions can help management keep better track of expiration dates, stock levels and internal organisation.Cyber risk: In an increasingly digital world, risks related to data breaches and stolen information are of considerable concern. Consider this: A joint study by the Ponemon Institute and Experian found that 60 per cent of companies had experienced more than one data breach in a two-year span. Yet, according to Kwitoski, only one in 10 organisations have cyber-liability coverage.Food industry leaders need to protect their businesses against the potential risks associated with a tech-driven world.

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  • Aug 8 2016

    3 tips for boosting business productivity

    There are few business leaders who wouldn't cite boosting productivity levels as one of their main organisational goals. Productivity is what propels profitability. Yet, the formula to maximise efficiency is no easy code to crack.

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  • Mar 24 2015

    China FTA means opportunities for Australian service SMEs

    The recent signing of the China-Australia Free Trade Agreement has made it easier for SMEs to export services to Australia's largest trading partner.

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