Page 12 - Beverage Master December January 2020

Craft Beverage

updated and shared between team members without the need to
manually input reports or be in the same physical location. Cloud
applications are also being built with an open-interface approach
which allows for more seamless integration amongst individual
solutions.

Business processes that are commonly handled in the cloud
include:

• Accounting and General Ledger Management- Such as: Sage
Intacct, QuickBooks Online

• Accounts Payable- Such as: Bill.com

• Expense Management -Such as: Expensify, Nexonia

• Inventory Management- Such as: Ekos, OrchastratedBEER

How leveraging those tools can provide data-driven insights
while saving you time and money:

Real-Time Data and Reporting:

Because cloud-based technology can be accessed from anytime,
anywhere, the data really is “at your fingertips”. This accessibility
is becoming increasingly important as the competitive landscape
continues to intensify in the craft beverage space. The ability to
integrate your existing applications with multiple cloud solutions
allows for a comprehensive view of your data (i.e. sales, opera-
tions and finance) and thus, enables you to make timely intelligent
business decisions. Plus, you can use these tools to create tailored
management dashboards with customized reporting capabilities –
so you see what you want to see on a regular basis.

Taking it one step further, the ability for craft brewers to access
data in real time also makes that data more useful in identifying
trends, comparing results to industry benchmarks, monitoring key
performance indicators and, ultimately, being a better business
partner to your distributors and retailers.

Automation and Scalability:

Most growing craft breweries tend to run lean and have limited
personnel resources. In these cases, leveraging innovative tech-
nology to streamline finance and accounting functions and reduce
the need for manual processes can be very beneficial. For exam-
ple, cloud-based accounting software typically automates process-
es by importing transaction data on a real-time basis. The cloud
computing model empowers team members to collaborate and
share information beyond traditional communication methods -
allowing multiple facilities and/or taprooms to co-manage produc-
tion, raw materials, packaging levels and distribution scheduling.

10 December - January 2020 BEVERAGE MASTER

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