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Momentum Software Blog

A New Year can be exciting and fresh with opportunity. It feels a little like the slate has been wiped clean and your batteries are recharged. Now is the time to write all those fresh ideas down and start planning ahead, and while it’s good to be forward thinking, it is also a good idea to reflect on current processes and whether is any room for improvement.

If your business has grown to the point you need “next level” finance and business management software you may have stumbled on a number of acronyms and technical terms that can be quite confusing. In this blog, we’ve tried to clarify as many business buzzword and/or acronyms we can think of.

A key part of a successful ERP implementation is people engagement, and as it is a fact that some people adapt to change more readily than others, it is vital that a change management process take place alongside that of actual managing of the project. It is essential that everyone is on-board and willing to accept and learn when implementing a business-wide system such as an ERP.

1.ERP is for large businesses only.

Initially developed for larger businesses and organisations, an increasing number of small businesses are embracing ERP. ERP is very adaptable and can be customised for a vast array of business types, business processes, and workflows. On a basic level, there is an accounting function, a purchasing function, customer service, manufacturing, project management and inventory. Integrating the data from the various functions is essential for all businesses and increases efficiencies and productivity.

If your business has grown and your still stuck using separate legacy systems, your capacity to make sound business decisions can be greatly undermined. Without access to live data, the decision will be based on data that can be up to a week old

As your company grows, your business requirements grow, often resulting in a host of different standalone applications such as inventory control, sales order processing, payroll, purchasing and so on. This can work for a while but it is not a very efficient way to run your business for the long term. Your right hand doesn’t know what your left hand is doing and it can result in things being missed, wrong assumptions being made, not to mention the stress involved if a business decision needs to be made quickly.

If you have been advised of a software update and duly deleted the alert – YOU ARE NOT ALONE. More than a third of users don’t upgrade their software even after their vendor has advised them of an update. However you may not realise how vulnerable this can leave you. Below are a few reasons why you might not upgrade, followed by why you should.

As technology evolves and business requirements are shifting, pressure is mounting on yesterday’s finance systems. Gone are the days when the finance role was only to manage risk, complete transactions, and tally the books. Today’s CFOs are adapting and creating up-to-date digital business models to create more value, take advantage of new opportunities, and beat the competition.

Man doing Manufacturing

High growth manufacturers have found that by implementing the right Enterprise Resource Planning (ERP) system they can gain a competitive edge and stimulate business growth.

Lady in office looking at her computer screen for cloud ERP data

Cloud ERP is becoming increasingly popular amongst midsize businesses as it can provide greater flexibility and lower entry costs than on-premise ERP systems. Here are 4 benefits of cloud ERP...

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