New research shows 55% of Australian businesses report that the speed of company growth has increased with the transition to the cloud. Managing Director of APAC for NetSuite, Mark Troselj, explains how Australian Manufacturers can compete with business integration into the cloud.
While Australian businesses have been facing a challenging economic period of late, economists also expect these developments, along with a decline in Australia’s currency may in fact create a boom for the manufacturing sector.
Recent developments present an opportunity for manufacturers. If manufacturing companies become smarter in how they compete and manage their resources, they can use an economic downturn to their advantage.
One such area of focus should be technology. Under-investing in technology nowadays can leave companies unprepared and vulnerable to foreign competition. Digitisation, mobile, social media and cloud are driving disruptive changes across many industries. Australian companies that are unable to adapt and capitalise on these technology trends risk falling by the wayside and becoming vulnerable during trying economic times.
Some Australian businesses have become smart about their technology strategy, using cloud computing to increase their profitability by increasing revenue and cutting costs.
A survey by analyst and advisory services firm Telsyte found that cloud solutions, specifically on-demand business management software delivered via cloud such as NetSuite, are providing on average 9.4% growth through better agility and faster speed to market. Cloud-based businesses also saved an average of 8.7% of their operating costs because they did not have to worry about ongoing maintenance, power and support costs.
One such example is Headland Machinery, who effectively use NetSuite to manufacture, forecast, price, track and schedule products, with a focus on design and a single platform for both B2B and B2C distribution. Read more on how Headland made the move to the cloud.
– Mark Troselj, VP and Managing Director for Asia-Pacific and Japan at NetSuite