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Sage MAS 90 and Sage MAS 200 ERP
NEWSLETTER
JANUARY 2010 . Volume 10 . Issue 1 |
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Sage FAS Asset Accounting received a perfect 5-star rating in the CPA Technology Advisor 2009 Review of Fixed Asset Management Programs.
“Sage’s FAS Asset Accounting system is the most widely used asset management program on the market, offering automated asset depreciation management
capabilities for businesses with any number of assets, providing full support for IRS, GAAP and IFRS accounting standards, and giving users advanced asset life cycle
tools,” noted reviewer Isaac M. O’Bannon. |
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| Leveraging The Economic Downturn |
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Invest Now To Position Your Company For Growth As The Economy Improves
How is your organization responding to the current economic downturn? Despite the natural inclination to go quiet and spend as little as possible during
the downturn, a recession may actually be a great time to use market conditions to your advantage. In this article, we will take a look at ways that an
organization can leverage a downturn to position itself to reap a bigger share of the market when conditions improve.
Economic Cycles
It is important to keep in mind that downturns always end. Since 1854, the U.S. has experienced 32 cycles of expansion and contraction, with contractions
occurring for an average of 17 months and expansions 38 months. And during any downturn, consumers continue to spend - they just look for better deals
and for companies that are aggressively pursuing their business. Taking a reasoned, systematic approach will determine the state of your business for
years to come. Tough economic times come and go. It is what you do during a downturn that makes all the difference.
Focus On Your Customers
Keep your customer relationships strong. A weak economy makes everyone nervous and that includes your customers. You can help build confidence by
instituting an ongoing communication plan. You can use Business Alerts to automatically send notes to customers who have not ordered within a certain
time period. And when customers do call, Business Insights Explorer provides quick and easy access to detailed information that allows you to deliver
top-notch customer service. You can look up their last invoice based on their purchase order number and drill right down to the products or services they
purchased and the prices they paid.
Stay On Top Of Accounts Receivable
This is the time to be very clear about the gap that might occur between paying your suppliers and having your customers pay you. You will want to focus
on the day-to-day flow of cash and sharpen up your cash collection policies and procedures. Find out if certain customers are taking longer to pay by
comparing collection patterns year-over-year and month-over-month. Zero in on specific customers, and take immediate action if payment
cycles are becoming protracted. Before writing off customer debts (or sending them to collections), find a creative and strategic way to settle the bill;
for example, negotiate payment schedules, share talent or lead databases, or accept in-kind ownership shares.
Business Insights Explorer is the ideal tool for staying on top of outstanding balances. From your main customer view, you can filter your customers
based on useful criteria such as total overdue balance greater than $500. If desired, you could export your result set to Excel and give the report to a
team member for follow up.
Increase Your Market Presence
Resist the urge to bring your marketing efforts to a halt. Though one of the most common reactions in an economic downturn, it takes you off the radar
and you are no longer top-of-mind with customers and prospects. Worse, rumors can start circulating that your business is failing. Few brands can survive
without advertising and product promotion. History has shown that companies who become low-key during a downturn are in a far worse position in terms of
profitability, market share, and competitive presence when an upturn becomes the new reality.
If you are using Sage CRM, you already have a tool that can help you cost effectively plan and implement marketing campaigns that give you the most bang
for the buck. We also recommend you evaluate the benefits of social networking. It has enormous potential as an inexpensive marketing tool, particularly
if you are in a business that sells directly to the consumer.
Attract And Retain Talent
During a downturn, often the first thought is to save money by reducing staff. Instead, we recommend that you carefully consider your staffing needs for
the future. As other companies lay off employees, many talented people will suddenly find themselves looking for work. Capitalize on the opportunity to
identify and attract talented employees. Make sure you also focus efforts on retaining key talent by communicating frequently and honestly with
employees. A slowdown also can be a great time to invest in training opportunities for your employees, so they can be better prepared when the economy
revs up again.
If you don’t already own Sage Abra, you may want to consider investing in this human resources suite, which integrates with Sage MAS 90 Payroll. Sage
Abra Suite contains many of the tools you need to cost effectively attract and retain talent, and invest in your staff. For example, Sage Abra Train
automates scheduling, record keeping, and correspondence to ensure employees receive the training they need. There is online recruiting management
software available that can help you by automating and simplifying the workflows required to screen, interview, and hire new employees.
During slower sales periods, you and your staff may actually have more time available to effectively evaluate and implement new systems. There also are
tax breaks available that allow you to fully depreciate or accelerate depreciation on capital purchases, making this the ideal time to invest in your
infrastructure.
Optimize Your Infrastructure
Infrastructure and technologies can be a great drain on resources if they are not being used effectively. Take stock of your systems. Are they giving you
the insight you need into your business? Are there roadblocks that can be smoothed with a custom report or better integration of Sage MAS 90 with other
technologies, like credit card processing, automated payroll tax filing, or e-commerce? Make sure your systems talk to one another and can give you a
complete picture of your business. The more you know, the better decisions you can make. If you are like most companies, you can do a better job of
utilizing the technology that you already have. Perhaps you need further training, improved integration, or customizations to improve your efficiency. We
would be happy to help.
Here we have provided just a few ideas for capitalizing on the economic downturn. We hope they will help you generate ideas for additional possibilities.
Give us a call with your questions. |
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© Copyright 2004-2010 Tango Marketing, LLC. www.tango-marketing.com All Rights Reserved. This newsletter and its content have been registered with
the United States Copyright Office. This content is licensed by Tango Marketing LLC and can be distributed by licensee until 07/31/2010 at which time the licensee must cease
distribution and use of this content unless permission in writing is obtained from Tango Marketing LLC. Reproduction in whole or in part without permission is strictly prohibited.
The capabilities, system requirements and/or compatibility with third-party products described herein are subject to change without notice. Sage, the Sage logos, and the Sage product
and service names mentioned herein are registered trademarks or trademarks of Sage Software, Inc., or its affiliated entities. All other trademarks are the property of their
respective owners.
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