Strategic Business Owners Winning the Race to Success

Seasoned racegoers will know that the winner seldom leads the race from the starting gun. It is the job of the jockey to think strategically. He has to gauge the relative strength of his competitors. He has to take into account the external factors such as the condition of the race track. In business,  the business owner performs a similar role. He has to take into account all factors, internal and external, and then create a strategy that will get him first past the winning post. Of course, this does not happen in an instant. Years of breeding and training go into creating a winner. In addition to the horse and jockey, there is always a team of breeders, vets, lorimers, groomers and farriers that focus on preparing the horse for the big race. To create a winner, every one of these people needs to be an expert in their field. Not only must the horse be prepared for the race but the owners, the jockey, the course stewards, the bookmakers, the caterers, the facilities management all have to be up to a high standard to ensure a successful race day.

In the same way, business accounting software is just one element in the mix that makes a successful company. A lot of hard work from many people in your team goes into getting all elements to combine and win the race.

Preparing for Success

As you get closer to race day, some decisions need to be made that are going to be critical to your chance of success. There is also a certain sequence in the way things need to be done. In business, the race is a long one, like the Melbourne Cup.

While choosing the winning horse can be left to luck, with business accounting software you can reduce your risk of selecting the wrong horse by getting advice from the experts.

You need to prepare your business to make sure it is ready for the software system you select. Simply implementing a new business accounting system on its own will not win you the race. Your company processes, systems, responsibilities, procedures and people all work together to win the race.

Understanding your competitors

Business is about competitive advantage and business accounting software is one of the tools you can use to improve this. But you need to know the areas in which you are weaker than your competitors in order to focus on improving these.

The first steps in preparing for new business accounting software is the selection of the software itself. Kilimanjaro selected MYOB as their strategic partner in Enterprise solutions. Not only are the solutions localised for the Australia and New Zealand markets, but they are best of the breed.

Strengths and Weaknesses

Each business is unique and each software package has a unique set of functionality that suits a particular business. The vendors of the software will know the relative strengths and weaknesses of the software packages they support. As an example, MYOB Exo is extremely strong in inventory based businesses, job costing and integration. It is suitable for bills of materials, but not for complex manufacturing. MYOB Advanced has its major strength in general ledger-centric businesses. The preferred method of deployment is also a consideration. For some businesses software as a service (SASS) is essential while for other businesses this may not be possible.

Make sure you talk to a reputable channel partner who will be upfront with you about the strengths and weaknesses of each of their products. Beware of the Tout.

Pacing yourself to the Finish Line

The structure of the software also needs to be understood. If your business requires segregation of responsibilities, you need a software package that has been built to enable this. On the other hand, if your business has not yet reached a stage where this is necessary, you will be much better off with a permissions-based structure. MYOB Advanced has been created from the ground up with segregation of responsibilities. Smaller businesses will find this frustrating while larger businesses have this as a basic requirement.

Once you have selected the product, the hard work begins. Most implementers will have a structured methodology. This series of steps will comprise a design phase (or discovery phase), a build phase, a user acceptance testing phase, and a go-live phase. Implementers with a track record of success will follow their methodology to reduce risk and to ensure a successful outcome.

There is no point in entering a horse into a major race unless it is well prepared, ready and has an equal chance of winning. Our team at Kilimanjaro will not let you go live until we are confident that you are well prepared. We will be there with you every stride of the way.

Don’t leave the future of your business to luck. Contact us today.

Soul Origin teams with MYOB for the perfect franchise solution

Australia’s fastest growing franchise business Soul Origin has identified MYOB software as a must have for growth, migrating its head office and franchisees onto the Australian online software provider.

The fresh food franchisor has upgraded to MYOB’s online ERP solution MYOB Advanced and all franchisees have been migrated onto AccountRight.

While researching online business software solutions, Soul Origin CEO Chris Marvis said the company was looking for the best software available and an integrated system that could support its fast-growing team of franchisees.

Read more 

We Ask RUOK? Kilimanjaro Raises Awareness For Suicide Prevention

R U OK? Day

Kilimanjaro Consulting is excited to announce we will be taking part of the upcoming R U OK? Day this year on September 14th. R U OK? is an initiative to bring together Australians and spread suicide prevention awareness. This initiative embodies our tribal culture which encourages our supportive and collaborative learning environment. The tribe will be holding a morning tea in our office on Thursday as an opportunity to check in with other coworkers that we may not have the chance to chat with on a daily basis. R U OK? aims to reduce the staggering number of suicide rates in Australia by elevating the stigma around mental health and reminding Australians how crucial a thoughtful conversation between family, friends or workmates can be to someone’s day or even life. The R U OK? the initiative also provides advice on ways to handle the conversation.

The Statistics

The numbers behind suicide in Australia are at a haunting increase, they are at the highest ever in the last ten years. According to Australian Bureau of Statistics in 2015, one person ended their life every three hours. These devastating numbers show how important an initiative like R U OK? Day is for Australians to show support and different ways to ask someone if they are ok, and importantly what to do if they say no. Please visit the R U OK? website for viable communication tools and to check out all the great work they do.

Why it is Important to Us

This message from R U OK “Life’s struggles don’t clock off when we clock on at work” resonates deeply with Kilimanjaro Consulting as we strongly believe that our people are our biggest asset, and we find it vital to encourage all Australians to take care of one another to set a positive and supportive environment for our workplace. R U OK research shows that factors which contribute to preventing suicide include maintaining a strong sense of community and belonging. Considering this, the Kilimanjaro tribe are proud to be apart of R U OK encouraging this attitude and support through our morning tea. Please follow us on social media to keep up to date with our involvement or to find out ways you can be a part of a great cause.

 

Facebook Twitter

 

It’s Baby Steps as New Employees Learn your Business Environment

We often look at a newborn child with wonder, wishing it all of the hope the world offers. It’s developmental milestones achieved at significant ages encompass the physical, social, emotional and cognitive stages its life takes.

In the first four months, babies develop a strong sense of identity and well-being and even begin to learn on their own and transfer that learning to other aspects of their development.

They also begin to mimic others’ actions.

By eight months they understand perseverance pays off and leads to the achievement of a task, and they learn how to communicate one-on-one to get what they want. Their brains have encompassed exploring and expressing with wonder and interest in their environment.

These developmental stages of a baby are somewhat replicated with a new business and new employee.

 

Read more 

Kilimanjaro’s 8th Annual Summit

The Summit

The 5th of August marked our 8th Annual Summit. This year it was held at the Intercontinental Hotel in Double Bay. The summit is a forum to convey information that our tribe may otherwise not have access to. We are essentially including the team in the discussion about our strategy, our long-term plan and our goals. It also gives our team the opportunity to make input into day to day operational issues.

FINAL GROUP websiteThe company has been built by giving attention to these issues. Many of these initiatives require time and money but we keep them at the forefront of our planning. Sometimes it takes years to bring about the change, but we use this input as a guide.  We always ask the question: What can we do different and better?  It’s our annual exercise in sharpening the spear!

It has become part of our culture – a reminder of who we are and what we stand for, all the more important as we grow. It is a team building exercise,  and an opportunity to thank the team for all for the extremely hard work, long hours and weekends.

The summit includes the entire Kilimanjaro Consulting team.

Current Achievements

During the course of the day, we reviewed our successes over the past year, particularly our clients’ satisfaction with both MYOB Exo and MYOB Advanced. Specific accomplishments last year included retaining MYOB Diamond Partner Status in 2016, achieving MYOB Business Partner of the Year 2016, winning MYOB Enterprise Solutions Excellence in Business Development 2016 and being listed one of three Platinum Partners for MYOB Advanced.

Special Guest

FINAL wanitha websiteDuring the summit, the team were lucky enough to experience an innovative, team building cooking experience with our very Special Guest, Ms. Wanitha Tanasingan. Wanitha’s passion for food was embedded in her upbringing as her Father was the Head Chef for the Kedah Royal Family in Malaysia. In 1982, Wanitha moved from her home town of Penang to Australia. Here, she started up her own restaurant and cooking school.

The Kilimanjaro Consulting Team engaged in an inspiring and collaborative cooking experience that was motivated by Wanitha’s passion for food, life and the community.

Overall, the summit was a sensational day that allowed Kilimanjaro Consulting to engage in team building, reflection and concentration on the highest service for our clients in the future.

Flying Sky High: Kilimanjaro’s MD Interviewed for Qantas Radio

Kilimanjaro’s Managing Director, Ronnie Baskind was interviewed earlier this month and has been featured on “Talking Business with Alan Kohler”, one of Qantas’ most popular InFlight radio channels. Alan’s show focuses on business news and financial commentary and is broadcast on every domestic and international Qantas flight.

Ronnie’s story is unique, and his business knowledge stems from his foundations as a farmer in South Africa. Today, Ronnie manages over 50 employees and 500 client sites and uses elements of traditional African leadership to guide the Kilimanjaro tribe as the premier specialist implementers of MYOB Enterprise Solutions.

The interview covers Ronnie’s early farming days in South Africa right through to the creation of Kilimanjaro Consulting. Ronnie describes his passion for strategy and business planning and his completion of an MBA. He talks about the knowledge gleaned from traditional African communities and how these have influenced Kilimanjaro’s commitment to working as a “farmer not a hunter”. This translates to long-term, nurtured relationships built on trust and guidance.

QantasYou can download this insightful interview from the iTunes store. If you find yourself on a Qantas flight, just tune in to “Talking Business with Alan Kohler” to hear Ronnie’s interview, as well as an array of other interviews with successful business people and entrepreneurs. The interview will be available on Qantas radio for the month of July.

You can subscribe to Talking Business with Alan Kohler here. Alan is a financial journalist, and founder of the Business Spectator and the recently established The Constant Investor.

If you’re interested in other Qantas news, download the latest, new-look Qantas Spirit of Australia magazine here.

If you are interested in Kilimanjaro’s history, you can read our story here. From humble beginnings of a team of two, we have grown to a tribe of over 50 consultants.

 

Picture Source: Qantas

No shame in debt collection for small business

“Cash flow management is a major issue for most small businesses,”

“Having money tied up in debtors is no different to having money tied up in slow-moving inventory. It is a burden on the business. Traditional accounting software will provide you with the data required to chase up outstanding debts.

“A standard debtors aged balances report will show you who owes what, and how long the debt has been outstanding for. Most businesses would simply sort this report from largest outstanding to smallest, and then focus on the larger amounts that are beyond the due date.”

Read More

Menu Favourites in MYOB Exo Business

MYOB has produced a tutorial video about setting up and using the Menu Favourites pane in MYOB Exo Business. This feature is available from the 2017.1 release or later, and gives users the ability to customise menu options themselves.

This means that users do not need to contact their Partner for assistance, and this task can be completed without accessing the Exo business configurator.

You now have the option to remove items that you don’t require, and you can create favourites for items that you use frequently. This is another handy feature from MYOB that gives you greater control and flexibility, and will improve your Exo experience!

Kilimanjaro Consulting recognized as a finalist in the North Eastern Sydney Business Awards

Kilimanjaro the Finalist

Kilimanjaro Consulting was a proud finalist in the North Eastern Sydney Business Awards in the 2017 Excellence in Business award category. The winner of this prestigious award will continue as an eligible finalist in the NSW Business Chamber State Awards, which will be announced in Friday 17 November, 2017.

Word from the Tribe

Kilimanjaro had a representative team of 8 tribe members present at the awards evening and were happy to cheer on all of the finalists. Kilimanjaro’s Managing Director, Ronnie Baskind said “We are humbled to have been announced as a finalist in our category. It is encouraging to see so many businesses out there who are keeping up in the constantly evolving business world. We are proud to be in the company of other businesses that do great work in their fields and aim to provide quality services for their customers.”

North Eastern Sydney Business Awards Night

The awards evening was held on Friday 12th of May at the Kirribilli Club in Lavender Bay. Kilimanjaro Consulting was one of 42 finalists in the North Eastern Regional Business Awards and were up against businesses from a range of industries including education, media, real estate and healthcare. Other awards presented on the night included Excellence in Innovation, Excellence in Sustainability and Employer of Choice. The award for Young Executive of the Year (18-35), has been previously won by Kilimanjaro’s very own Jason Fegan, Director of Operations and MYOB Advanced.

Keep your eyes open in November when the winner of the State Awards will be announced!

IMG_4561 IMG_4570

 

Why you should consider Business Process Improvement

What is Business Process Improvement?

All indications are that our economy is strengthening, and growth is at last happening. This is the perfect time to streamline your processes, improve your efficiency and get more from your Exo or Advanced system

Business Process Improvement (BPI) is a concept that we’ve embraced at Kilimanjaro.  BPI embodies one of our Golden Rules: ‘sharpen the spear’. Internal and external factors are constantly changing and your business needs to be in a position to address these challenges. You may find that your core business changes its focus, moves in a new direction or simply needs to keep up with new technologies. Although your MYOB system may have been doing the job up until this point, there are many more efficiencies that you can achieve with a bit of help from our skilled consultants.

What are the benefits of Business Process Improvement?

Your Database, Systems and Procedures

  • Your company’s vision and goals will be documented and used to identify and plan for new systems to be implemented. By recognising your vision and goals, we can help you put a plan in place to achieve those milestones
  • Your current MYOB Exo environment will be standardized and we will provide you with a well-engineered, robust and user-friendly model that can be easily maintained and supported. By getting the foundations right, you will be well prepared for future growth
  • Business transparency will be improved across all branches of your business
  • Your database will be maintained
  • We will assist you in documenting your business policies and procedures
  • We will review the setup of existing Exo modules that your business is currently using
  • We will identify any other Exo modules that may be useful for your business

 Reporting and Management Reporting

  • Reporting is a large part of the Business Process Improvement audit. In order for your business to grow, it is important that key stakeholders have access to accurate, real-time reports.
  • In addition to utilizing the Clarity Report Writer, there are other robust reporting tools available, including:
    • Microsoft Excel
    • SQL Server Reporting Services (SSRS) which allows users with an Internet connection and appropriate permission the ability to obtain real-time information about the business
    • One of the connected services Business Intelligence platforms that may benefit your team

Other Benefits

  • We will add new functionality quickly and efficiently to all areas of the business
  • We will review and strengthen security around your current system
  • We will show you how to maximise your use of core Exo reporting functions including Analytics, Widgets and Dashboards
  • We can configure key reports (including Sales Alerts, Margin Exceptions and Customer Prompts) to arrive in your inbox or be displayed at login
  • We will identify potential Connected Services products that may suit your specific business requirements

What is Kilimanjaro’s approach to Business Process Improvement?

Our proposed approach to Business Process Improvement is to work with various teams within your organization to develop a full and integrated understanding of your system.

Our approach to Business Process Improvement covers four main stages:

  1. Onsite Visit
  2. Document our recommendations and findings based on the site visit
  3. Prioritise recommendations and present our findings
  4. Action and implement changes

Stage 1: Onsite Visit

One of the golden rules at Kilimanjaro is that ‘1+1 = 3’ and we believe that collaboration and a team approach is important when engaging in a Business Process Improvement visit. Depending on the extent of the Business Process Improvement process, the onsite visit may require collaboration from 1 or more consultants so that we can develop a strong understanding of how your system is currently working and how it could be improved.

Stage 2: Recommendations

The recommendations that we provide are based on industry best practice, and our years of experience of implementing MYOB Exo across a variety of industries. Our recommendations are not strictly limited to system changes, but may apply to system-wide processes too. The scope of our recommendations will vary from one client to another, so we will establish your requirements at the beginning of the process.

Stage 3: Prioritize and Budget

Our approach to Business Process Improvement has worked well with many of our clients, and we believe Stage 3 plays a large role in this success. One advantage of our methodology is that after Stage 2: Recommendations, you will have the opportunity to assess which recommendations you would like to move forward with. This allows your business to prioritise the “must-haves” over the “nice-to-haves” and means that you are in complete control of your budget.

Stage 4: Action and Implement Changes

Once you have chosen a list of priorities, we will action and implement the changes that your business requires as per Kilimanjaro’s unique Project Implementation Methodology.

What next?

If you think your business may benefit from Business Process Improvement, please get in touch with our team today for an open discussion about your requirements and how we can help you achieve your business goals.

You can contact us by filling in the form below, e-mailing insidesales@k-c.com.au or calling our team on 1300 857 464.