By 2030,  Australia aims to join the ranks of the Top 10 data and digital economies in the world.

To achieve this goal, the 2022 Federal Budget has included incentives to accelerate the digitalisation of businesses.  

The Government also announced that businesses with a turnover of under $50 million would be able to claim an extra 20% back in tax from every digital investment they make, up to $100,000 in the fiscal year.

These investments can include digital solutions or digital skills training for the workforce. The budget allows businesses to claim up to $100,000 in the fiscal year.  

Australia’s Digital Economy Strategy also promotes the adoption of e-invoicing and the digitalisation of government services such as MyGov and My Health Record.  

Many stakeholders have expressed their approval of these efforts, including MYOB’s Chief Employee Experience Officer Helen Lea. 

“We are delighted with today’s announcement from the Federal Government that they will support Australia’s small businesses in reaching their online potential. 

“This incentive, which will see SMEs garner a $120 tax deduction for $100 spend, will provide rocket fuel to Australia’s 2.4 million small businesses through essential digital investment to ensure their future in the Australian economy,” she added.  

READ MORE: Government’s endorsement of digital a big win for Australia’s economy

Join Australia’s digital transformation 

Take advantage of the opportunities provided by the Federal Budget and follow through on your digital transformation this 2022.   

While there are many ways to kickstart digitalisation, implementing an ERP system is the most holistic approach.

An ERP system digitises processes for multiple facets of a business – from accounting and payroll to inventory and distribution.  

Aside from ERP systems, there are also other technologies that you can begin exploring for your business such as the ones we list down below: 

• ERP & Business Management Systems – A unified platform for all business operations – from payroll, and accounting, to stock management. ERP systems provide your business with a single source of truth.  
• Payroll & Workforce Management Systems – Solutions made to streamline the payroll process.  They also allow the workforce to manage their employee data such as leaves and shifts.  
• Business Intelligence Solutions – Data analytics and business intelligence technologies that will help you make well-informed business decisions. 
• ERP System Add-On Solutions – Third-party software that serves specific purposes and extends the functionality of your ERP system.  
• Custom Applications and Solutions – Tailored solutions created by the developers of AlphaBiz Solutions.  

Leading digital change may be a challenge, but it’s well worth it.  

Unsure of how to begin? Contact the AlphaBiz Solutions team to assist you in creating a digital strategy and choosing which digital solutions are best for your business.  

For existing ERP customers, we also offer MYOB Advanced support, MYOB Exo support, and Sybiz Vision support to help you optimise your solution.