We note there’s been a LOT of buyout/acquisition activity, particularly in the inventory management software space (DEAR bought by Cin7, Fishbowl by Diversis, Unleashed by The Access Group etc).
There have been quite a few logo changes. A few new players in traditional segments. A couple of name changes (FinancialForce now Certinia and DEAR now Cin7 Core for example).
And in 2023, the rise and rise of AI – we are seeing more traditional businesses adopt tools like ChatGPT by OpenAI for:
Help with writing emails and content;
Creating inventory information sheets and website product descriptions;
Fast and effective graphics; etc
NOTE: this is not promoted as a comprehensive list, quite the contrary. We openly admit there are far more tools available, but the sheer volume of what we have been able to pull together makes the point that B2B inventory-based businesses have a vast array of software tools available to them!
This infographic pulls together over 250 software applications used in Australian and New Zealand wholesale, distribution, import and manufacturing (B2B inventory-based) businesses. We have tried to group appropriately though note solutions can be difficult to pigeon hole as their functionality expands beyond an individual task.
This article is an overview of my presentation at last week’s inaugural Accounting Business Expo: “Why Advisory won’t save you from technology”.
A Consensus View
Everywhere you look, it seems the world is telling accountants that compliance work is a non-growth future (at worst a dramatically diminishing business, brought to an end by government policy and technology). The answer, according to pretty much everyone, is operational advisory – helping clients with running better businesses. An entire industry has popped up to coach and help accountants “transition from compliance to advisory”. Technology has popped up everywhere, to systemise advisory, with report packs and standardised approaches for how you monetise the “enormous, under-serviced, advisory opportunity”.
My former boss and the major shareholder at Attaché Software, Mike Rich, often spoke about the concept of businesses reaching a point in their life-cycle (perhaps ironically) where they “run out of gas”. He contends that they have 2 options: renovate or stagnate.
Too many Australian businesses have stagnated. It is not good for the stakeholders of those businesses. It is not good for the economy. This is why I have set-up Value Adders – to make a difference. To help businesses to use technology and best practice business process, to grow and fulfill their potential.
Below I have compiled a list of the top 20 tips I have to renovate businesses. I don’t profess these to be original, but I recall a university professor explaining to me during a first year lecture: Read more