Local mid-market businesses in Australia are relying on up to five online business management tools or applications on average to manage their operations, according to a recent survey of over 1,000 mid-market decision-makers from across the country. The research, conducted by Dynata for Australia’s trusted software provider MYOB, sheds light on the growing digitization of the business world but also highlights the challenges of outdated and ineffective systems.

Wasted Time and Resources

Nearly half (48%) of mid-sized businesses in Australia say they are wasting valuable time inputting data into different systems, leading to inefficiencies and decreased productivity. These businesses face challenges with data accuracy and duplication of efforts across systems. Specifically, 43% of them regularly check between systems for accuracy, while 41% sometimes duplicate their efforts.

The Benefits of Upgraded Digital Solutions

However, the results have been significant for those that have added or changed their digital solutions in the past 12 months. Mid-market businesses in Australia have reported improvements in efficiency and productivity (48%), the ability to service more customers (39%), and stronger, more informed decision-making (34%).

Smart Integration is Key

Kim Clarke, the MYOB General Manager, says modern business management solutions integrated smartly can provide advantages. These advantages let business leaders concentrate on their ambitions and overcome the difficulties of managing multiple systems. Having the right tools to make informed decisions fast and with confidence is key to business success in today’s market. Real-time data and info are especially important for businesses operating in rapidly changing international economies.

The Future of Mid-Market Businesses in Australia

Mid-market business leaders and decision-makers in Australia expect Big Data (39%) to be the technology that will significantly change their business in the next five years. This is because Big Data provides valuable insights and enables informed decisions to be made through the analysis of large amounts of structured and unstructured data. This leads to improved efficiency, enhanced customer experience, and overall business success. Additionally, 37% of these leaders predict that cloud computing and improvements in connectivity (35%) will have a significant impact on their businesses in the near future.

How AlphaBiz Solutions Can Provide Support?

Mid-market businesses in Australia are looking for ways to manage their operations more efficiently and effectively. With the rise of digitization, there’s a need for modern, integrated solutions that help business leaders make informed decisions quickly and confidently. AlphaBiz Solutions has the answer: MYOB Advanced ERP is the perfect solution for growing businesses that want to simplify their business processes and improve efficiencies. Here’s how:

Enhance Business Efficiency:

• MYOB Advanced is a cloud-based ERP solution that automates business processes.
• Provides real-time visibility into business performance.
• Includes robust reporting and analytics capabilities.
• Integrates seamlessly with other MYOB products and third-party applications.
• Offers customizable workflows and automated processes for consistency and accuracy.
• Includes advanced security features and audit control

Simplify Payroll Processing and Enhance Accuracy:

• An all-in-one management tool to calculate finances, track labour costs, analyse trends and create detailed reports in real-time
• Complete visibility and transparency with enhanced reporting functionality
• Automated workflows ensure your employees are paid accurately and on time
• Reduce errors and risk with streamlined payroll processing

Revolutionize Workforce Management:

• Onboard new employees with ease using automated workflows
• Build rosters quickly and easily with Smart Roster automation
• Monitor time and attendance accurately with the MYOB Advanced Team app
• Manage timesheets digitally for faster and more accurate payroll information
• Empower employees to manage their day-to-day admin via the MYOB Advanced Team app

Book a Demo with Our Experts and Streamline Your Business Operations Today

If you’re looking to streamline your business operations, improve productivity and reduce costs, then book a demo with our experts today. Our team of experienced professionals will provide you with the right solution to meet your business needs. Take the first step towards a more efficient business

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