There are a number of software solutions in the market at present that provide their users with business insight based on a solid accounts foundation. One of these solutions is a system called Exact Online.
Exact was developed by a Dutch software firm by the same name and holds the title as Europe's #1 Cloud Business Software for SMEs. Below is an exert from Exact's website providing a brief introduction to the service
"Serving entrepreneurial businesses is at the heart of what we do at Exact. Small enough to remember our own modest beginnings in 1984, yet large enough to be a global player. We understand your mindset, how you collaborate with your business community and the structure that is needed to achieve results. We use this knowledge to provide you with software solutions that support every business activity and give real-time insight into your entire business.
With Exact you’ll have the freedom to successfully address the challenges and opportunities that come your way, creating value for your customers and ultimately for yourselves. From manufacturing, wholesale and distribution to professional services, whatever business you are in, we can help you grow."
The marketplace is crowded with business software solutions, but as with most software there is no one size fits all approach and different solutions are aimed at different business types and sectors. For example, Xero would be ideal for a small business with limited or no stock control requirements, SAP or Netsuite on the other hand would potentially be better suited to large multi-nationals with more bespoke requirements and a hefty budget to implement it.
What does Exact do?
Exact can hold its own in the entry level market, for those businesses that require an online accounting solution that enables the user to create an invoice, produce standard monthly financial reports and of course be MTD (making tax digital) compliant. However, where it really stands out from the competition is for companies that are looking for a fully integrated online solution that can offer:
- CRM built in as standard
- Advanced Inventory Management
- Multi Warehouse Stock Control
- Drop Shipment
- Material Resource Planning
- Serial and Batch Tracing
- Multi-level Bill of Materials
- Unprecedented Manufacturing Control.
- Real-time Shop Floor Time and Material Tracking
This list should provide understanding as to the scalability of Exact Online and where it could bring real benefit to business. With different product tiers available on a SAAS based model there is the flexibility to select the tier that offers the right feature set for you.
Exact's dashboard insights
As with any business solution it's important to be able to gather/input the data, but equally important is the ability to present that data in a usable/digestible manner. To that end Exact provides dashboards customisable per user which can display insights based on different areas such as CRM, inventory, financials, manufacturing progress etc. Examples of the dashboard can be found below.
Alongside these dashboards users can run the standard reports you would expect to find in Europe's #1 Cloud Business Software for SMEs. Please see below a selection of these reports based on the different areas of the software.
Financial
Trial Balance, Aged Debtors/Creditors, Profit and Loss, Balance Sheet
Inventory
Ageing Analysis, Stock Valuation, Stock Positions, Purchase Order Advice
CRM
Prospects Report, Customer/Supplier lists, Opportunities Report
Manufacturing
Production Analysis, Cost Overview, Shop Order Status, WIP Report
Why should I change to Exact?
Consider the system that you are currently using and asking yourself some of the following questions.
- Am I getting everything out of my current system that I would like to help run my business?
- What do I like about my current system?
- What would I change about my current system if I could?
- Does it work for everyone in the business or just one area?
- Could I access my business information whenever and wherever I want or, am I confined to accessing it in my office?
- When was the last time I spoke to someone about my internal systems and processes?
If after asking these questions you think, it might be a good time to begin your journey to a potentially better business solution for you then the Software Projects team at Shorts are here to help you navigate the path.
The next step
Here at Shorts we have a team of consultants that are fully certified in the software solutions they implement and support. Add to that the years of combined industry experience they bring with them and you can be confident that your business could be in no better hands when it comes to taking that first step on your journey to a new software solution.
While moving to a new software solution can seem daunting and potentially disruptive, we aim to minimize this by setting out a clear plan of approach agreed with our client. This in turn allows the client to work within a time-frame best suited to them. We work closely with all stakeholders in the business to gain a 360-degree view of how implementing the software will benefit them.
For us the set-up of the solution is very much a collaboration with our client. While we will suggest best practice and give ideas as to how to configure the software based on discussions about the business requirements, the final decisions rest with you the client.
If you would like further information regarding Exact and whether it is right for your business please contact us on 0114 2671617 or follow the link below.
Alicia Williams
Alicia is Director of the Genus team at Shorts, a chartered certified accountant and Xero specialist.
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