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IT tools for managing enterprise resources, such as ERP or Business Intelligence systems, are mainly associated with large, well-developed organizations that require modern, integrated information systems for the purposes of effective management. But can these systems also be useful for start-ups?

It seems that the answer is no. Startups are ventures which are burdened with considerable risk, so their origins are normally associated with minimal financial outlay, and investment in areas that are not crucial to the running of the business is usually postponed for later. The creators of startups forget, however, that apart from the idea itself, strategy is most important from the perspective of success. So if a startup is not designed for success from the outset, there is a risk that it will never come to pass.

Advantages of the implementation of IT systems

The implementation of ERP and BI systems gives you the opportunity to organize business processes - both in the case of developed organizations and those in the initial stages of development. In the latter case, an additional advantage is that there is no need for reorganization. An entrepreneur can organize his business enterprise around the selected tool, without losing sight of any relevant elements. It is worth remembering that such systems were created to optimize the operation of enterprises, so they are supported not only by technology, but also by decades of experience in business management.

An important step in the implementation of any system is the pre-implementation analysis stage. The Implementation Partner is able to locate the weak points of the organization, as well as indicate the place where the system will achieve the best results. In the case of a startup, the analysis phase can turn out to be groundbreaking for the entire business, and innovative ideas can lead to equally innovative technological solutions that will ensure effective implementation and success.

It is also a good idea to take the implementation of appropriate IT systems into consideration even at the stage of business plan creation. For potential investors, it is a clear signal that the start-up is built on firm foundations, and not just good intentions. In other words - the project gains credibility in their eyes.

It is also worth taking into account the fact that the ERP system gives the company a comprehensive solution that eliminates the need to implement specialized systems, some of which are required by law, as in the case of accounting software. This means reducing the cost of implementation and licensing. A BI system, on the other hand, allows users to control the effects of the company’s operations and enables a rapid response to the rapidly changing external circumstances.

Costs of implementation

The implementation of IT systems may involve considerable costs - especially in the case of highly developed organizations with complex business processes. However, in the case of start-ups, costs need not be so large. First of all, the design of system functionality in parallel with the organization of the company itself can help to reduce implementation costs. Secondly, users can easily select tools whose price will be within the realms of budgetary constraints.

What to choose?

ERP systems facilitate modular design, which means that they consist of functionalities serving different areas of the company. These modules are fully integrated (i.e. the data from each module is available in one place), but do not all have to be implemented immediately. At the beginning, you can successfully focus on the key functionalities, while others may be implemented later, or you can also leave them out completely.

ERP solutions available in the cloud are also a good option for start-up owners, as they are very flexible in terms of costs. They allow you to adjust the price to specific requirements, as well as facilitating full scalability in case those needs change.

Even completely free tools can be used for business intelligence, as such tools will handle basic analytical tasks even at the early stages of the company’s operations - they are primarily self-service applications and the like. Another advantage of tools of this type is that they allow for the evaluation of the benefits of data analysis within the company, before the implementation of a more advanced system.

It is also worth remembering that most companies already operate basic tools which make use of analytics - we are talking, of course, of the ubiquitous Excel, as well as SQL Server, which has built-in analytical functions for the fully licensed versions at least. It’s also a good idea to check if the selected ERP system provides such functionality.

Consultation

As we can see, the range of possibilities in terms of the selection of tools is broad and does not require companies to immediately invest large sums in complex tools. Of course, in the case of a brand-new, startup adventure with business, such a choice will not be easy for entrepreneurs. So it’s worth taking up the option of a consultation to help you make the right strategic decisions. Such assistance can mean turning to organizations that support businesses, such as a platform for startups, or to a professional company which deals with the implementation of IT systems. This initial consultation is generally free of charge.

We finally have some clarity on the future of the United Kingdom, it appears Brexit means ‘hard’ Brexit for the government as Mrs May edged us closer to leaving the customs union. Quite simply, this means that the UK will be excluded from the EU single market and will therefore have to negotiate a new deal with the EU once it leaves. The positive side of this argument is that the UK will get to negotiate new trade deals across the globe, as a member of the union we could not negotiate our own deals. It must be said that we are more certain of the plan ahead, Mrs May has laid out a vague structure which can provide a foundation for negotiations. The Pound appreciated sharply against the Dollar during the speech, most notably when Mrs May confirmed the final agreement would have to go to Parliament.

The employment situation in the UK is looking a bit sticky, as the Office for National Statistics (ONS) reported that the number of people in work slipped by 9,000 to just over 31.8 million in the three months to November. The employment rate held at all-time record high of 74.5 percent and wage growth picked up pace. The suggestion among analysts is that Brexit uncertainty has kept hiring low among firms with wage growth reflecting a skills shortage among professionals and specialists. For more information on the data, click here.

Outsourcing firm Mitie has issued a new profit warning, saying the effects of Brexit uncertainty are causing delays in contract signings. The firm has brought in Sandip Mahajan as its new finance chief in a further change to its top management after a change of CEO’s at the start of the year. It is thought that the introduction of new labour laws are hurting Mitie, although the industry as a whole is adapting well. To learn more, click here.

Infosys, a leader in consulting, technology, and next-generation services, released multinational research findings on artificial intelligence (AI) business impact, market maturity and expectations. The report revealed a clear link between an organisation’s revenue growth and its AI maturity: organisations who report faster growth in revenue over the past three years were also more likely to be further ahead when it comes to AI maturity. Sandeep Dadlani, President & Head of Americas, Infosys, said, “Our research shows that the next four years will witness further spikes in interest, and general bullishness about the significant value and benefits that can be obtained through AI adoption. As an industry, therefore, we must take necessary steps to ensure AI is developed morally and ethically across every part of society and that employees are actively engaged and provided with the necessary training to be central to this journey.” Learn more about Infosys here.

The Economist has been reporting on the importance of constant upskilling and learning in a society where technological innovation sees new developments in employment. It is well worth reading the report in full but in a quick review the report argues that jobs are evolving, becoming a mix of skills and abilities that would have been alien to a worker 25 years ago. It explains the concept of ‘hybrid’ jobs and how teaching and course are adapting to teach applicants practical nano-courses. The need to gain new skills throughout your working life has never been more apparent and important. The GSA offers a wide range of practical workshops in topics like design thinking, RPA & AI, negotiation and governance that can lead to a diploma or MBA.

UK inflation bounced in December 2016, reaching 1.6% up from 1.2% in November. The figure is above expectations although analysts expect higher inflation in 2017 as the fall in the Pound impacts imports with rises being passed to consumers. Some analysts think 3% is possible, especially if oil prices edge up over the coming months. The news may worry the Bank of England, governor Mark Carney noted that the UK’s economic recovery increasingly relied on consumers making price rises a potential torpedo to the economy. Read more here.

Cleverti, an emerging Portuguese technology company, is seeking to strengthen its cooperation with British companies, following a number of successful projects in the United Kingdom. England and Ireland are the main target for Cleverti’s specialized software development. Results so far evidence the added value Cleverti’s business model can bring to UK companies and hence this market has become a priority for Cleverti in 2017. Carlos Coutinho Silva, CEO of Cleverti, explains “2017 will be a challenging year for us. We are seeking to consolidate our client base and also increase our presence in international markets, with a special focus in England and Ireland.“ Beyond the UK, Cleverti’s services currently extend to Belgium, Germany, Norway, Portugal, Sweden and Switzerland, where Cleverti has been helping innovative companies to develop their software products by enhancing internal crews with highly talented IT professionals based in Lisbon.

To learn more, visit www.cleverti.co.uk

WNS (Holdings) Limited (WNS), a leading provider of global Business Process Management (BPM) services announced that the company entered into a definitive agreement to acquire Denali Sourcing Services, a leading provider of strategic procurement BPM solutions. Denali delivers high-end global sourcing and procurement services to some of the world’s leading brands in the High-Tech, Retail/CPG, Banking and Financial Services, Utilities, and Healthcare verticals. Focused solely on procurement, Denali has pioneered “sourcing as a service” in a technology-agnostic capacity, and currently manages over $30 billion in spend on behalf of over 25 clients via a multi-location global delivery network. Over 90% of Denali’s revenue is recurring in nature, and over 95% of revenue is derived from clients in the United States. “The acquisition of Denali Sourcing Services adds a strategic procurement capability to our existing Finance and Accounting solutions. Denali is a unique asset which we believe helps position WNS as an industry leader in F&A, and enhances our Industry Specific Solutions,” said Keshav Murugesh, WNS’ Chief Executive Officer.

To read more, click here.

Every time the government starts talking about Brexit plans, the Pound takes a beating on international markets as investors and speculators try to price in the cost of a hard Brexit on the UK economy. Prime Minister May is expected to announce plans for the future of the UK on the 17th of January, many think the plans will detail a hard Brexit. As the Pound falls, the worry will be its effect on UK consumers, who may find themselves squeezed due to rising prices, which could lead to a challenging year for UK retail. You can read more here.