IT Brief Australia logo
Technology news for Australia's largest enterprises
Partner content
Story image

Four things wholesale distributors need to consider for FY2023

By Jessie Chiang
Fri 1 Jul 2022

In a post-pandemic world, there are many things for a distribution business to juggle. There’s tracking stock, getting shipments on time and just as important, getting orders out the door.

Australian ERP solutions company Wiise highlights the top four priorities distributors should focus on or plan for in the next financial year.

1. Global disruption from events like the pandemic and the war in Ukraine

COVID-19 created the perfect storm for the supply chain. Disruption to global trade routes, huge changes in buyer behaviour, volatility and uncertainty have created chaos that is still far from being resolved.

Businesses of all sizes are affected. However, for small to medium size organisations, with tighter margins and fewer resources, the current situation is incredibly challenging - particularly when businesses aren’t armed with the right tools and data to help them cope with demand spikes and rapidly scale operations. Wiise says disconnected and manual processes and a lack of real-time data make it very hard to plan and be agile. 

KPMG says businesses who want to survive and flourish in the challenging global market must review exactly how their resources are used and focus on building efficiency in every process.

“Organisations must consider all of the activities that are necessary, but don’t add great value. They need to look at ways to minimise the amount of time and resources spent on these – making them as lean as possible,” says KPMG.

2. Getting rid of older systems

One of Wiise’s customers is a family-owned hardware distribution business based in Victoria. They recently experienced an influx in sales, with the business growing by 30%, but they were using a very basic accounting system and didn’t have a CRM platform for their sales team. 

This led to the business being unable to process orders fast enough because the accounting software could only handle a limited number of transactions. Unfortunately, the operations and sales team spent more time updating spreadsheets than processing orders and dispatches. 

Wiise says many Australian organisations are in a similar situation. 

They have been forced to digitise operations and processes nearly overnight but are stuck with legacy solutions that cannot cope with increased volume nor provide the real-time data required for today’s distribution chains to operate efficiently.

Distributors need a single, easy-to-use system that can scale, store sales, inventory, orders and shipping data in one place and automate manual admin, such as updating spreadsheets.

3. Data and automation for a competitive edge

Speed is everything in the current market and as a result, businesses must be competitive to survive. Today’s customers expect more, which means being able to offer the best products at the best price. If you don’t have a handle on your cost of goods, or it takes you too long to determine what your true cost of sale should be, you’ll be left behind.

To tackle this, businesses need data. 

Without accurate, timely and relevant information, it is impossible to make confident business performance decisions and drive operational efficiencies. Some companies are reluctant to change existing processes, which puts them at a disadvantage in a competitive environment. KPMG notes that smaller businesses, in particular, are still writing cheques, manually inputting invoices and processing expenses manually and individually.

“Labour is a principal driver of cost in Australia and this investment is not being utilised effectively if employees are focusing their time on low value, low-level transaction processing,” says KPMG.

4. Taking a staged approach to cloud transformation

Moving to a future-fit, cloud-based system doesn’t have to be done all at once. A staged approach is advisable, starting with finances and then inventory before moving to basic warehousing and eventually advanced warehousing.

Finding the right solution transformed the Victorian hardware distribution business that used to spend more time updating spreadsheets. The sales team can now process orders directly from Outlook, enabling the company to get revenue in faster and continue on its growth trajectory without limitations. In addition, stock levels are improved, with automatic levels set for reordering.

Pricing is also much easier with landed costs. With every cost from shipping to port duty and clearance charges accounted for, they can price their products much more competitively and maximise revenue. 

And most importantly, the hardware business’ customers are also happier. There are no more delays, and the team is getting orders out in under a few hours.

In the current climate, when constant change is the ‘new normal’, having efficient operations and the right technology enables people to focus on the core business and think strategically. This means that rather than being surprised by market shifts and scrambling to catch up, they can instead be turned into an opportunity.

Ready to learn more about how Wiise can transform your business operations? Book a 15-minute demo call with an ERP expert now.

Related stories
Top stories
Story image
‘Windows shops’ target admin rights to de-risk their environments
New data shows up to 75% of critical vulnerabilities could be mitigated through a rights and privileges crackdown
Story image
Hybrid working success relies on the return to office
A reluctance to return to the office is impacting a would-be hybrid working model, instead leaving businesses with a mostly-remote workforce.
Story image
8x more users attacked via old Microsoft Office vulnerability in Q2
"Criminals craft malicious documents and convince their victims to open them through social engineering techniques."
Story image
Collaboration app market revenue grows 28.4% year-over-year
IDC has found that global revenues in the collaboration applications market grew 28.4% year-over-year in 2021 to $29.1 billion.
Story image
Schneider Electric
Schneider Electric launches SM AirSeT in Australia
The new medium-voltage switchgear uses pure air and vacuum interruption, completely avoiding SF6 greenhouse gas.
Story image
The Sydney Business School extends its SAS collaboration
The Sydney Business School at the University of Wollongong (UoW) has recently extended its collaboration with SAS in order to meet the growing demand for skilful business analytics professionals.
Story image
CM Group recognised as Best Overall MarTech Company
MarTech Breakthrough has ranked CM Group as the Best Overall MarTech Company for the third year running and Cheetah Digital as Best Overall Marketing Campaign Management Solution.
Story image
Unified Communications
Gold Coast private hospital improves comms with Alcatel-Lucent Enterprise solutions
With further demands placed on health workers as a result of the pandemic, they need efficient and adaptable solutions that help them effectively serve their communities.
Story image
Data protection: How SMEs can secure online consumers’ trust
Consumers believe how a company treats their data reflects how they treat their customers, according to a new survey.
Story image
Video: 10 Minute IT Jams - An update from Mendix
Mendix is a low-code platform used by businesses to develop mobile and web apps at scale, and Jornt joins us today to discuss how these offerings work, and what benefit they have in the development process.
AWS Marketplace
Learn how security orchestration, automation, and response (SOAR) enhances your security strategy.
Link image
Story image
Artificial Intelligence
Concentric AI protects sensitive data with new capabilities
The new capability reveals sensitive data shared across email and business messaging platforms and highlights who has inappropriate access to content.
Story image
Workday research finds A/NZ organisations becoming leaders in digital agility
New research from Workday and IDC has revealed that Australia and New Zealand are becoming leaders in digital agility.
Story image
Tech job moves
Tech job moves - Fastly, INX, Kinly, SmartBear & Vectra AI
We round up all job appointments from July 29 - August 12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Sophos reveals latest ransomware trend impacting orgs
Sophos has announced in a new whitepaper that Hive, LockBit and BlackCat, three prominent ransomware gangs, consecutively attacked the same network.
Story image
Australian Defence Force
Cloudera and ADF partner for e-health management system
The Australian Defence Force (ADF) has selected Cloudera as a strategic data partner to help transform its e-health management system.
Story image
University of Melbourne
The University of Melbourne implements data ecosystem with Talend
Talend has announced that The University of Melbourne (UoM) has selected Talend Data Fabric for its cloud data platform.
Story image
Demand grows for future-proof mobile access solutions
HID Global, in partnership with IFSEC Global, recently released the 2022 State of Physical Access Control report for the fourth year running.
Story image
Data Protection
Safeguarding your financial data
As the digital revolution marches on, managing data security has never been more important. Here are five important steps to take toward better financial data security.
Story image
Digital Transformation
Top tips for making your finance transformation program a resounding success
Planning to make 2023 the year you embark on a wholesale finance transformation program? It’s a move that will stand your enterprise in excellent stead as you navigate the complexities of the post-Covid business landscape.
Story image
Artificial Intelligence
Appier achieves historically high growth rate of 56% YoY
"Our strong momentum over the past two quarters underscores Appier's significant growth alongside our customers."
Story image
Digital Transformation
Why it is imperative to keep up with technology advancements
Technology is constantly evolving, which is why digital transformations can often be complicated. What legacy items stay? Will the new and old work together? Or is there a whole new system that we need to introduce?
Story image
Can biometrics help? 123% increase in Gen Zs scammed online
In the three years leading up to 2022, the number of Gen Zs who fell victim to online scams rose by 123%, according to Ping Identity.
Story image
Kaspersky uncovers new attacks by advanced persistent threat group
The attacks involved modifications of the well-known malware, DTrack, as well as the use of a brand-new Maui ransomware.
Story image
CISOs need to consider a risk-based cybersecurity strategy
Rather than talking in terms of attack vectors and vulnerabilities, CISOs and security decision-makers must look at actual business risk.
Story image
Investment in APAC cold storage to reach $5 in next decade
Investment in Asia Pacific’s cold storage market is expected to grow fivefold in the next decade, according to JLL.
Story image
Lucid Software
Lucid Software expands enterprise offerings with enhanced slack apps
Lucid Software has expanded its enterprise offerings with enhanced slack apps for its Lucidspark and Lucidchart technology.
Story image
Australian Grand Prix uses CENNZnet blockchain for fan experience
CENNZnet was employed by Power'd Digital to deliver the Formula 1 Heineken Australian Grand Prix's 2022 AusGP Access program.
Story image
Data analytics
Pressure on orgs to up their data analytics game - study
A recent report from Sisense highlights data transmission, analysis, and risk management remain top concerns for data professionals in APAC.
Discover why a localised cloud ERP is the way to go for Australian businesses.
Link image
Story image
Dynatrace extends application security capabilities for runtime environments
Dynatrace has announced that it has extended its Application Security Module to detect and protect against vulnerabilities in runtime environments.
Story image
Avast reveals zero-day exploits targeting Chrome and Microsoft
Avast, released its Q2/2022 Threat Report today, revealing a significant increase in global ransomware attacks, up 24% from Q1/2022.
Story image
Email scams
HelpSystems shines light on impact of response-based threats
Response-based attacks targeting corporate inboxes have climbed to their highest volume since 2020, representing 41% of all email-based scams.
Story image
Artificial Intelligence
Is your chatbot bringing down the customer satisfaction score?
The top 10 reasons why chatbots are failing to meet customer expectations and what you must do to avoid that.
Story image
Cloud Security
Tenable makes additions to Cloud Security portfolio
Tenable has announced additions to Tenable Cloud Security that represent the next step in assessing threats related to cloud vulnerabilities.
Story image
Lacework launches new capabilities for better threat detection
Lacework has announced new capabilities that enable organisations to uncover more critical threats to their infrastructure and empower teams.
Story image
Artificial Intelligence
Gartner unveils key emerging tech to watch in 2022
"Such technologies present greater risks for deployment, but potentially greater benefits for early adopters," says Gartner.
Story image
Contact Centre
Treasure Data launches new customer experience functionality
Treasure Data has introduced a new strategic vision and product positioning for Customer Data Cloud, reflecting the company's focus.
Story image
Digital Transformation
Federated change is the best path to digital evolution
Businesses that can successfully manage the exponentially expanding masses of data produced by modern consumers will be the businesses that survive and prosper.
Story image
Hybrid Cloud
The essential guide to digital transformation by SolarWinds
Digital transformation is a buzzword thrown around all the time by companies, but what does it actually mean and why is it important? SolarWinds breaks it down.
Story image
Customer experience
Scope Australia selects NICE CXone platform to streamline operations
One of Australia’s largest providers of disability support services, has chosen the NICE CXone platform to help streamline its contact centre operations.
Story image
Data Protection
Advancing genomic sequencing and public health with digital infrastructures
Right before our eyes, we've witnessed the development of the COVID-19 vaccine in record time. An enormous achievement in an otherwise lengthy task that previously took, on average, 10-15 years.