Business advisory is something that we at InfoConsulting provide to a wide range of clients across a wide range of industry sectors.
But what is business advisory?
Many businesses use different types of software tools to run their business, it is these tools that provide various functions to various parts of a business.
These are tools that work in different parts of a business. Sometimes in tandem and sometimes separately, depending on the business processes used by the company.
Being able to use these tools to the best of their ability requires certain expertise. It is this expertise that companies rely on when hiring business advisory and business consulting companies.
Having a partner as an example, that has implemented an ERP solution within their industry sector is valuable. This type of partner has already undergone a project or projects and understands clearly the processes within your industry sector.
This is why the business advisory element of all projects is vital. Having a partner to act as a business advisor allows you to take advantage of skills and expertise that you may not have access to within your own company.
As an example, a business advisor who specializes in ERP may not be a good partner if you are implementing a HCM solution. The same can be said for a business advisor who is an expert in CRM but would not know or understand the intricacies of a warehouse management solution.
Below we have listed five of the key types of business software that you might use in your organization. Each of the sections below details what you should be looking for from the systems as well as outlining how you might work with a specialist business advisor.
|ERP which stands for Enterprise Resource Planning is a type of software that is used by businesses to streamline and manage their business processes. If we switch the acronym ERP and make it PRE we could explain it as a company that is using software to plan the resources they have within their enterprise.|
Resources in this example could be a finance department, human resources department, logistics and supply chain operation, manufacturing and production facilities.
Any area of the business that has a function that can be turned into a business process can use a software tool like ERP.
|Learn more about ERP business advisory|
|CRM which stands for Customer Relationship Management is a type of software that is used by marketing and sales teams to manage business relationships with customers, prospective customers and cold leads.|
Switching the acronym CRM we can explain it as managing relationships with customers which is exactly what you would do as part of a sales or business development team.
CRM software has evolved greatly over the last decade and can now integrate with many other business softwares using API (Application Programmable Interface) Think of an API as a dual plug socket that allows two devices to run at the same time.
A strong CRM system and process can streamline your sales process greatly.
|Learn more about CRM business advisory|
|IFS Field Service Management is part of the IFS family of modules and applications. |
The main difference is that IFS FSM is a standalone application that works not only with IFS but with many other ERP applications.
This now provides a company using SAP, Oracle, Microsoft Dynamics or other enterprise resource planning and CRM software platforms the opportunity to seamlessly integrate FSM (Field Service Management) into their product offering, which in turn opens up a new revenue stream.
InfoConsulting is a leader in implementing the full core suite of modules for IFS Applications but more importantly is a core IFS partner that understands the field service management sector.
|Learn more about FSM business advisory|
|Warehouse management software or WMS as it is more commonly known allows companies to manage their entire Warehouse ordering process.|
Individual customers can have their products made to order and these products can then have their own business process or processes included in your warehouse management system. This flexibility allows companies like yours to offer varied Manufacturing Services in a cost-effective way.
This could include workflow, order fulfilment and raw materials planning. Providing this service for many customers means a manufacturing company has numerous revenue streams for its business.
Analyzing business processes is needed and takes time and expertise. This is where a good business advisor would be able to help.
|Learn more about WMS business advisory.|
|Human Capital Management (HCM) is now more important than ever, and with the recent events of the last two years, many companies have found they have encountered huge problems with the issues of having to put staff on furlough or worse still letting people go. |
Many organizations now face a remote workforce. Others are making tough decisions about which employees to keep versus which ones to lay off. Others (logistics and supply chain) are hiring aggressively as their businesses see a major boost in demand from the economic fallout.
Building effective human capital management strategies, processes, and technologies will be a mission-critical competency moving through 2022 and into 2023.
Companies that align business processes and take advantage of “Human Capital” in a strategic way will be the winners.
|Learn more about HCM business advisory|