Exact acts fast to help SMEs fight weak economy

Launching 'Exact solutions for challenging times', the multinational software firm has come up with a set of solutions to help small and medium-sized businesses thrive in a volatile economy, as well as boost long term performance. This move is supported by the recent findings of consulting firms like McKinsey, who say that IT solutions can be used to "highlight a modest number of activities that, when corrected, deliver a disproportionate amount of value" ("Managing IT in a downturn. Beyond cost cutting", McKinsey, 2008).

Roland Rott, Exact Software's Managing Director of EMEA, says:

"When a recession hits, it's a natural reaction to become prudent about spending. Our solutions are designed to help businesses cut costs and streamline their processes intelligently and quickly, making it easier to overcome adverse conditions as well as continually improve efficiency."

Exact believes that a stormy economic climate is best weathered with a three-point strategy: improve your cash-flow, reduce your costs and gain full control of your business. Exact's solutions for challenging times aim to help firms implement this strategy and thereby rapidly improve their financial position by optimizing a range of key business processes, including accounts receivable, accounts payable and stock control.

"We want to help firms save time and money by automating processes, gaining a continual, real-time overview of customer orders and payments, and improving cash flow through speedier invoicing and fewer outstanding debts. It's basic business sense, and we know from our own experience that it works," says Rott.

According to Exact, its solutions can optimize the entire order-to-cash accounts receivable process, saving time, lowering risk, improving cash-flow and providing a crucial real-time business overview.

This involves, for example, automating and integrating processes in one system, facilitating customer order and payment monitoring, better assessing customers' credit status and reducing bad debts.

Exact also says it can streamline the procurement- to- pay process, helping firms gain control of costs, improve cash-flow and enhance transparency. This means, for example, aligning incidental spending, expenses and purchase limits, optimizing invoice approval and eliminating the need for hard copy invoices stored in multiple departments.

For businesses in the manufacturing, wholesale and construction industry, Exact's stock control and logistics solutions aim to give firms more accurate stock control and reliable delivery. Reducing stock levels reduces costs, and with more reliable delivery firms can increase customer intimacy and stimulate repeat sales - a key source of profit in difficult times.

With 24 years of experience on the global software market, Exact says it's in an optimal position to understand the challenges faced by today's SMEs. Having prospered through several recessions, the company's 'practice what you preach' philosophy is reflected in cost-cutting solutions designed to help firms save time, gain a real-time business overview, reduce risk and optimize their cash-flow - no matter how stormy the economic climate.