Are Your Systems Keeping Up To Date With The Evolving Transport & Logistics Industry?
The compounding effect of Covid, fluctuating energy prices, Net Zero ambitions and who can forget Brexit, have had, and continue to have a huge impact on the Transport and Logistics industry. Being able to make fast business decisions based on reliable data is more critical than ever if you don’t want to fall behind in a competitive marketplace.
U nfortunately, businesses in this sector are traditionally plagued with outdated systems and manual processes that make internal operations inefficient, discourage those that want to operate in the new world of flexible working and generate useful insights far too late for effective strategic decisions. The advent of cloud technology enables these issues to be resolved, but with thousands of choices it’s not simple to find the right path forward, which normally leads to no decision being made. Ryan Pearcy, SB Digital Associate Partner, discusses the possibilities and their impact. Please be aware that there is not a one- size-fits-all approach and it is best to consult with an expert before making any decisions.
Combined or Separate Many transport businesses have sector specific software that combines the operational and financial elements. This tends to work well for the operational side, but the accounting element is often an afterthought and requires manual operations, with limitations on any insights that can be achieved. The challenge with separate systems is getting data from one to the other in a reliable way that is compliant with HMRC’s Making Tax Digital “Digital Links” requirements. By adopting a “Modern Enterprise Resource Planning (ERP)” approach, which is the combination of separate cloud-native software connected via secure APIs, a business can achieve the best of both worlds by utilising sector specific operational functionality and advanced accounting systems that enable automation. This plug and play approach also enables the business to adapt, adding or switching out best of breed systems as they grow and evolve. Finance systems such as Xero have become the core of these Modern ERPs, enabling the business to scale quickly as they transition through phases of growth. They are also cost effective, enabling a business to grow to a reasonable size before having to consider switching to another system.
14 | SCRUTTON BLAND | TRANSPORT AND LOGISTICS
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