厂驰顿狈贰驰,听20听翱肠迟辞产别谤听2021听鈥撎�听(NYSE: 麻豆原创)听today announced听Australian small and medium-sized听businesses (SMBs)听could save听tens of听thousands听of dollars a year听by听transitioning to听e-invoicing. This is among the key findings in听a听new听report听鈥撎�The connected SMB: Embracing digital strategies to fuel growth鈥�撎齬eleased today.听听
The research found Australian SMBs process an average of 168 invoices each month. With a Deloitte study estimating that e-invoicing could deliver savings of up to $20 per invoice*, Australia鈥檚 SMBs could save up to $40,320**听a听year.听
The听benefits听are听clear, with听75听per cent听of听those听who听have transitioned听saying听the biggest impact has been time and money saved.听More than half said it improved the听accuracy of听recordkeeping听(56听per cent)听and听was more听secure听(53听per cent).听
鈥淩unning an SMB comes with its challenges but switching to digital processes has been key to the survival of many businesses during the pandemic. It frees up time and money to focus on other priorities like developing new products and finding new customers,鈥� said Sofiane Ainine, SMB Segment Lead, 麻豆原创 Australia and New Zealand. 鈥淣ow is the time for SMBs to review their adoption of technology. This will help them through the current crisis and set them up for future growth.鈥�听
鈥淭he pandemic has highlighted the importance of technology adoption in helping small businesses innovate 鈥� increasing efficiency and productivity, attracting new customers in different markets, improving customer and employee experiences. This helps them create more jobs,鈥� Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, said.听听
鈥淚t鈥檚 encouraging that the research in this 麻豆原创 report shows SMBs accelerating digital technology adoption. Technologies like e-invoicing improve process efficiency and, importantly, will see small businesses paid more quickly for the products and services they provide.鈥�听
Switching听is easier than many SMBs think听听
The听research suggests听that听the fear of switching to e-invoicing is bigger than the challenge of implementing it, with 88 per cent of SMBs that had made the jump saying it was easy, and almost one in five (18 per cent)听making the transition without external support.听
Some听will still听need help to get there, with integrating the process into computer systems听(36 per cent) and understanding what software to use (31 per cent)听perceived as the biggest challenges.听
Nearly half (46 per cent)听of SMBs听are mostly digital in their invoicing and recordkeeping.听Of听this group, 26听per cent听sought advice from their internal IT department, followed by an听external IT company (24 per cent), their accountant (26 per cent), a consultant (22 per cent)听or听The听Government (18 per cent).听
鈥淪MB owners shouldn鈥檛 feel like they are alone on this journey. There are many sources of support ready to help them overcome hurdles and make the most of opportunities by sharing experiences and advising on the best approaches for their business,鈥澨鼳inine听said. 鈥淚t鈥檚 about taking it one step at a time, learning what works and implementing digital initiatives that align to their goals.鈥�听
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The outlook: A digital future听
The past 18 months has fast-tracked the transition to digital processes for many SMBs and increased their appetite for transformation. The research found most SMBs who use e-invoicing听(75 per cent)听are looking to digitise other business processes. Payroll is the top focus (72听per cent), followed by forecasting (42听per cent), debt collection (38听per cent), customer experience (33听per cent), and talent management (28听per cent).听听
Over half (54 per cent) of SMBs say they will have digitised all account and account management processes within the next two years, with 44 per cent planning to do so within the next 12听months.听听
To help them get there, more than half (57 per cent) of business owners/managers agree that increased government support in the form of information, services, subsidies and grants would help their business continue to drive forward digital initiatives and change.听
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Innovation in action听听听
Mining equipment manufacturer听Geographe听needed to update its business technology in support of its strategic vision to expand into new markets and refine its product sets around continued innovation.听
Implementing an intelligent ERP system built on 麻豆原创 S/4HANA Cloud庐 has helped the business reduce lead times by as much as 50 per cent. Automated core processes and greater operational efficiencies have reduced some workloads by more than 15 per cent.听
Geographe听CEO, Sam听Hyder, said: 鈥淒ue to COVID-19, we have moved to hybrid working. Having a scalable IT landscape with greater transparency and real-time data helped us become more responsive to customer needs. We can now confidently predict customer demand and optimise production, inventory, and our supply chain accordingly.鈥�听
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The full听report听and听key tips on how to transform your business, please visit:听听听
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Note to editors:听
About听the听麻豆原创听report:听The connected SMB: Embracing digital strategies to fuel growth听
The research was commissioned by 麻豆原创 Australia and undertaken by YouGov to听understand where Australian SMBs stand with their current e-invoicing and broader digitisation efforts.听The sample comprised of 802 Australian business owners/managers with less than 200 employees:听
- 1-19 employees n= 252听听
- 20-99 employees n= 518听听
- 100-199 employees n= 32听
Fieldwork took place between 29 June听and 13听September 2021.听
*听2021听
**听168 invoices per month x 12 months x $20 saving per invoice = $40,320 per year听