Agribusinesses are becoming increasingly crucial worldwide. It isn’t just small, family-run farms any longer; the agriculture industry has transformed into large, modern business models. From farm equipment, pesticides and fertilizers, seed supply, crop and food storage, farm production and processing, financing, food delivery and marketing, to research and development, one thing is common across all these: the use of modern technology, specifically an ERP system. With the use of this type of technology, agribusinesses have optimized every process and are finding more efficient ways for everything.
Agribusiness Challenges and Opportunities
Uncertain times bring not only new challenges, but new opportunities. Having access to both historical and real-time data gives you the insight to tackle challenges head-on and change with the times. To remain profitable, agribusinesses must be able to anticipate and accommodate things like supply and demand variables. Scaling production is one area every agribusiness should be looking at. Do you know where you can automate processes, reduce waste, and increase efficiency, while freeing up resources?
Global demand for food is expected to double by 2050. Can you keep up?
Growing your business isn’t the only variable to think about. Sure, maybe you can keep up with the demands but is quality going to suffer? Consumers and regulators are calling for increased quality standards and better traceability methods. Without a reliable, efficient backbone system, farming and food manufacturers will have a hard time meeting changing compliance requirements and certifications. Now is the time to make sure you have a modern solution in place.
Why ERP for Agribusinesses?
The use of a modern Enterprise Resource Planning (ERP) solution is crucial for any business. This one system can bring all your agribusiness activities together, giving you a single point of truth for your data: accounting, sales, purchase, inventory, and other business areas. Because modern ERP systems are scalable and future ready, they have helped leading companies achieve profitability and sustainable growth.
With an all-in-one ERP solution, like Acumatica, you can streamline every process from procurement to production to distribution. Modern ERP solutions are scalable, helping you to maintain efficient business operations, ensure product quality, track costs and accounting, and manage your supply chain and distribution. Many agribusinesses have also seen benefits such as, an increase in value, achieving trade efficiency, enhancing internal collaboration, and improving business analysis.
Take a look at some of the features a modern ERP system can do for you:
- A holistic view of all financial reports
- At-a-glance, unlimited dashboards to manage your business
- Real-time inventory and resource tracking
- Farm-to-table traceability
- Geo-mapping and scouting options
- Crucial reporting, from revenue analysis to budgeting
- Peace of mind security – protection for your data
- Tracking and enhancing compliances and regulations
- Trend analyses and predictions such as weather patterns
- Easily track all details – crop planning, scheduling, procurement, inventory, lots, etc.
- True mobile app: get real-time information from the field
Can I Afford an ERP Solution?
Growing your business, scaling for the future, staying up on regulations and compliance, and ensuring top quality isn’t easy, but what is it going to cost? I know you’re thinking a new ERP system might be too big for your budget but think again. There are many options for every size business. Additionally, by having accurate and timely data, you can better control costs associated with production, especially labor costs, and get the highest profit for your products and services.
Galeforce Consulting Partners understands the complexities of the agribusiness industry. With over 20 years of experience, we have supported and provided custom solutions for agribusiness firms of all sizes. Whether you are small and starting up, or mid-sized and growing, we can provide solutions to make your business operations more efficient.
We can help your business grow with the times, while controlling costs and staying in compliance. All you need is the right, modern ERP solution. Take a look at how we helped American Meadows thrive with Acumatica.
Do you have a project-based business? If so, have you ever heard the saying, “a project accountant has one foot in accounting and the other in project management?” It’s true, but with the right ERP solution you can give your accounting team access to the project information without having to play project manager.
Project-based businesses need a powerful project-based system to match. From construction to marketing to engineering, firms rely on project accounting to give them accurate information. It allows your accounting team to record costs and revenues associated with all your different project, thus providing you with more useful reporting and in-depth insight into your operations.
What is Project-Based ERP?
To put it simply, project-based ERP is software that supplies a complete view of your company’s processes, by projects. It provides the capability to manage multiple projects, functions, and variables within one system. This single solution can collect and analyze data surrounding an entire project all at once. For example, you can track and measure metrics like labor costs, customer retention, inventory turnover, and more. With greater visibility into your current projects, you are able to plan better, assess progress, and collaborate easier.
Project Accounting is responsible for managing the budgets, billing, and profitability of projects that involve any combination of employees, contractors, materials, tasks, and more. Each item can be assigned to projects and tasks with specific billing rules assigned to each task. Without a system centered around projects, your business suffers.
60% of SMBs use manual methods for project management, non-project management software, or nothing at all to manage projects (Software Advice)
Acumatica for Project Accounting
Acumatica Project Accounting integrates with your core financials: general ledger, accounts payable, accounts receivable, sales orders, purchase orders, inventory management, and CRM. Project Accounting allows project managers to create budget forecasts and track actuals against estimates through the project’s life. Then, projects are included in all your company-wide reports.
No matter what industry your business is in, if you have a project-based business and are NOT using a modern, project-based ERP solution, you might be hindered by many pitfalls. Learn how Acumatica Project Accounting can help with:
- Scope Creep
- Project Risk
- Accurate Estimates
- Managing the Project Close
- Revenue Recognition
- Time Keeping and Schedule Management
Let us show you how to gain a complete view of project-related costs for materials, labor, services, and inventory items with Acumatica Project Accounting. Download this free Acumatica eBook: 6 Opportunities and Potential Pitfalls on the Road to Profitability.
There are numerous reasons a construction business might want to consider a newer, more modern ERP solution. Nowadays, small to mid-sized businesses are looking to digital software to stay competitive with the big dogs, while also remaining in regulatory compliance. An ERP solution, like Acumatica is designed just for that, while at a price point more manageable for smaller construction firms.
There are many other advantages to an ERP solution. Benefits include:
- Mobile access – anywhere, anytime
- Artificial intelligence
- Reducing IT and administrative costs
- Reducing labor costs
- Real-time reporting
Businesses in the construction industry are steadily growing, as are cloud-based, ERP solutions. More and more smaller construction firms are staying competitive and meeting customer demands with the features a new ERP system provides them. This is especially important, because as the industry shifts and changes, your systems need to evolve with it. Here are five trends to watch – can your system keep up?
5 Construction Trends in 2022
- Greener Methods: Customers and clients are paying closer attention to the environment, climate change, and ultimately your construction methods. They want to know your products and services are environmentally friendly. Not everyone needs an expensive fully-sustainable eco-friendly building, but affordable environmentally conscious options will win over old methods.
- Modular and Pre-Fabrication: Modular and pre-fab construction has steadily increased over the years and continues on the upward trend. These labor- and time-saving methods (fabricating and assembling repeatable building components in the shop, shipping or transporting them to the location and doing assembly onsite, etc.) has saved construction business costs year over year. With a modern ERP solution, tracking this process has become a simple, 1-click activity.
- Alternative Materials: With the supply chain problems and rising costs of materials, everyone is looking for more cost-effective ideas for construction. One idea was to use different or modern building materials. Some businesses have tried 3D printing, self-healing concrete, laminated lumber, and others. The 3D printing has had success and is expected to grow into one of the top technology trends in construction over the next five years.
- Automation: Overcoming rising costs, labor shortages, compliance and regulatory demands, more and more construction businesses are looking to ERP solutions to help automate tasks and activities. Not only does it need to be your one-stop for all financial information, it should connect projects, inventory, and all customer data giving your employees real-time information anytime and from anywhere.
- Increased Efficiency: All businesses, not just the construction industry, are looking for ways to boost efficiency. With a modern, cloud-based ERP solution, companies are reporting they are gaining efficiency in every area: Streamlining interactions so there are fewer meetings, providing a “single source of truth,” connecting to mobile devices, automating scheduling and messaging, and giving project managers access to real-time information so they can reallocate resources and keep a project on-time and on-budget.
Cloud Software for Your Construction Business
Stay agile, gain a competitive advantage, implement the proper foundation for your construction business. Galeforce Consulting Partners can help take your construction business to the next level. We offer the best solution for construction management: Acumatica, the Cloud ERP. Give us a call and see how we can help decrease costs, increase efficiency, and grow your business. Lean more here.
Whenever I write about cyberattacks, I like to Google the latest big attack and write a piece on it. There is always an article or two I can link to. Well, when I Googled “cyberattack” this time…
Let’s just say that there is plenty of breaking news on the topic from which to draw. With all that turmoil, it’s easy for companies to feel separated from the danger and immune to risk. Let’s look at some misconceptions we’ve heard from our customers and other SMBs regarding their current cybersecurity needs.
I’m Too Small for a Hacker to Target Me
Our blog has covered this, but it bears repeating: no business is too small to be victim of a cyberattack. Bad actors assume (often correctly) that smaller companies aren’t as adequately prepared to deal with attacks. According to Cyber Security Magazine, approximately 43% of significant cyberattacks targeted small businesses, and 61% of SMBs reported having an attack in the prior calendar year. 61%! Attacks are getting more sophisticated and wider-reaching; it almost isn’t a matter of if your company will get attacked, but when.
And then: what are you able to do about it? Join us on 3/24 for a webinar with Aegis IT, where they will walk us through 5 simple ways to secure our data.
Our Data Is Not Hosted in the Cloud – On-Prem Is Safer
On-premise servers often mean on-premise backups; all of your data is stored only in your environment. So let’s assume that you are diligent with your backups, as long as they’re still subject to the same security framework as your main database, attackers can easily thwart it. Oftentimes, they encrypt the backups first, rendering them completely useless by the time you notice you’ve been compromised.
Cybersecurity is Too Expensive
No: cyberattacks are too expensive. There are plenty of cost-effective but high-impact steps that all companies can take to ensure they are prepared in the event of an attack, or can easily recover from one. A sound security strategy, a disaster recovery plan, and backups outside your environment are all ways that a small- to midsized business can affordably build a framework for business resiliency.
Take the First Step Towards Securing Your Data
Analyze your risk. Aegis IT is a trusted Galeforce partner, and they offer a simple risk assessment tool, as well as a host of other managed IT services. Ilya Rubinshteyn, Aegis’ President and Chief Compliance Officer, will be presenting a series of webinars on securing your data and mitigating risk in these times of cyber turmoil. Join us!