Contents
A Solution Brief for Midmarket Manufacturers
Drive Growth with MYOB Advanced
Manufacturers face intensified global competition, increased product complexity, offshore logistics challenges, shorter product life cycles and modern technology requirements.
To drive growth, manufacturers need to focus on what they do best: designing and manufacturing great products while providing exceptional customer service. The last thing they should ever have to worry about is their ERP software or connected business applications.
MYOB Advanced is a full-suite, cloud-native ERP application. It provides manufacturers with adaptable tools and technologies to improve efficiency, decrease costs, generate leads and increase revenue to
grow and transform their businesses effectively in the new digital economy.
This Solution Brief outlines nine ways MYOB Advanced helps manufacturers grow.
9 Strategies for Manufacturing Growth
Strategy #1
Drive Growth Through Manufacturing Efficiency
Manufacturing is complex and riddled with inefficiency. Machines or tooling are often set up incorrectly, causing excess scrap. Production stalls when materials are not available for jobs and expensive capital equipment is underutilised. All of this leads to increased costs for rush orders, wasteful changeovers and increased material and labor. This drives up prices, making it difficult to compete.
MYOB Advanced Manufacturing Edition provides an integrated suite of applications designed to eliminate inefficiency through automation and actionable business insights.
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Artificial Intelligence
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Machine Learning
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Material Requirements Planning
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Inventory Order Allocations
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Barcode and RFID Automation
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Business Intelligence and Reporting
Strategy #2
Streamline Processes with Connected Supply Chains
Collaboration is essential for today’s manufacturers. Customers now actively participate in product designs. Suppliers need forecast data for the parts they deliver to manage their businesses effectively. Manufacturers on legacy ERP systems rely on email, fax, phone, and
other disconnected systems to collect essential information for decisions on product design, purchases, production, and orders.
MYOB Advanced provides a collaboration platform connecting your business with customers, dealers and partners to improve efficiency in all areas of your business.
- Embedded CRM
- B2B and B2C Commerce
- External Collaboration
- Web Portals
Strategy #3
Generate More Leads and Close More Business
It is harder for manufacturers to improve sales because products are complex. Some manufacturers rely heavily on estimates, with only a small percentage converting to quotes or orders. Legacy systems and disconnected commerce applications disrupt processes delaying information required for effective marketing and sales. All manufacturers need a better way to develop qualified business opportunities.
MYOB Advanced provides all the tools manufacturers need to sell more products and services.
- Manufacturing Estimates
- B2B and B2C Commerce
- Marketing Automation
- Matrix Items
- Product Configurator
“If you are a midsized business that desires to grow and has the need to unify your locations, an ERP solution brings this amazing gain; it connects people. In today’s world we need communication and an ERP solution provides the ability to have information at your fingertips that’s unified and delivered fast.”
Strategy #4
Provide Exceptional Service
Manufacturing has changed dramatically over the past decade. Manufacturers must do more than make great products. Customers choose suppliers based on the services they provide around those products. Consequently, today’s leading manufacturers offer installation, repair, maintenance and other services to complement core product offerings.
With embedded CRM and field service applications, MYOB Advanced provides the ideal platform for delivering world-class services.
- Mobile Field Service
- Contracts & Warranties
- Customer Support
- Preventative Maintenance
Strategy #5
Optimise Inventory for Maximum Profits
Inventory may be your largest asset but it is also one of your highest costs. Hold too much inventory and your carrying costs increase with the potential for spoilage or obsolescence. Hold too little inventory and you will face delays in customer shipments, unnecessary costs for rush orders, and scheduling problems.
Optimise inventory levels, automate processes and implement just-in-time strategies to save time and increase inventory turns with MYOB Advanced inventory management and manufacturing suite.
- Inventory Replenishment
- Flexible Pricing and Valuation
- Lot and Serial Tracking
- Material Planning
- Warehouse Management
- Shop Floor Automation
Strategy #6
Manage Compliance & Risk Effectively
Compliance is a huge issue for your manufacturing business. Compliance mandates from customers, vendors and federal agencies cost you time and money. Failure to manage compliance can severely restrict your ability to attract and retain customers.
MYOB Advanced includes dozens of features to help you manage requirements to remain in compliance. Database level security, audit files, security roles, wikis and document management support your quality and compliance initiatives. Additional features are available from integrated marketplace applications to improve quality management throughout the production process.
- GAAP, PCI and financial requirements
- HIPAA, SOC 3, GDPR and other security requirements
- FAA, FDA, EPA and industry regulations
- ISO and other quality compliance mandates
“The biggest time savings for us is not having to go out and wander through our yards of product to see what we’ve actually got on hand. Having a live inventory of what we have across seven different locations has been a huge time savings for people.”
Strategy #7
Minimise Technology Costs
Traditional ERP vendors punish manufacturers with restrictive and costly user licensing. Many ERP vendors lock manufacturers into expensive long-term contracts and hold their data hostage if they choose to leave.
MYOB Advanced offers unique industry editions to ensure you have access to all relevant modules with a month to month approach on licenses. You have free access to your data even if you leave.
- Various User License Options
- Free Online Training
- No Hardware or Software Installation
- No-Code / Low-Code Customisation
Strategy #8
Gain Actionable Insights
ERP systems are notorious for capturing data. There is a lot of it. It is difficult and sometimes impossible, to make sense of it all. MYOB Advanced provides direct integration with advanced business intelligence applications, including Microsoft Power BI.
The MYOB Advanced platform harnesses artificial intelligence and machine learning to provide actionable insights. Take advantage of configurable dashboards as well as hundreds of reports and inquiries.
- Business Intelligence
- Artificial Intelligence
- Machine Learning
- Configurable Dashboards
- Financial and Operational Reporting
Strategy #9
Extend and Enhance Your Technology Investment
Manufacturers depend on innovative technology such as 3D printing, RFID, virtual and augmented reality and the Industrial Internet of Things (IIoT). Prepare for the factory of the future with a modern ERP system designed for rapid integration with low-code or no-code modifications.
MYOB Advanced is a modern-day, cloud-native ERP application ready for artificial intelligence and machine learning. It is mature and rich in functionality without the complexity associated with traditional ERP systems. It is easy to use and scalable across industries and company sizes. For specialised business needs, trust the MYOB Advanced partner community to discover even more ways to grow your business.
- Open Architecture
- No-Code / Low-Code Customisation
- Channel Partner Configuration
- MYOB Advanced Marketplace Extensions
“We can look at the data when we want it, how we want it and really make better decisions about what products we should be selling where and which products we should drop and which products we should promote.”
Grow and Thrive with MYOB Advanced Cloud ERP
Manufacturing is challenging. You face increased competition, shorter product lifecycles, increasingly complex technologies and ever-changing compliance mandates. So how can you thrive in the new digital economy with so many moving parts?
The answer is simple: arm yourself with a full suite of adaptable and scalable business applications built on a future-proof cloud platform with an open architecture for rapid integrations and cross-functional workflows to automate business processes.
Choose a customer-friendly technology provider with specialised industry solutions for manufacturers to do the heavy lifting so you can work on your business—not on the systems that support your business objectives.
Many ERP systems can help you grow your manufacturing business, but very few offer the unique advantages that MYOB Advanced provides:
- Platform: A future-proof and adaptable cloud-native platform facilitating low-code or no-code customisation built for tomorrow’s technologies.
- Breadth: Full-suite ERP including accounting, inventory, online commerce, field services, manufacturing, project accounting and embedded CRM.
- Simplicity: An easy-to-use interface with no software to install and unlimited, free online education facilitating rapid implementations.
- Friendly: A technology partner that will not hold your data hostage, providing unlimited user licensing so you can engage all employees and external customers, vendors and dealers.
This solution brief provides a glimpse into the many ways MYOB Advanced helps our manufacturing customers grow their business. There are hundreds of other use cases and thousands more when you consider CloudFactory's specialised applications.
MYOB Advanced Cloud ERP is a comprehensive business management solution that was born in the cloud and built for more connected, collaborative ways of working.
Designed explicitly to enable small and mid-market companies to thrive in today’s digital economy, MYOB Advanced’s flexible solution, customer-friendly business practices and industry-specific functionality help growing businesses adapt to fast-moving markets and take control of their future. For more information on MYOB Advanced, visit: MYOB Advanced - Cloud ERP
