Managing year end with Bevica

The end of the financial year need not be scary, with business management software such as Bevica offering a chance to get ahead of the game.

The end of the financial year can inspire a lot of feelings: relief, panic, optimism, fear, or even all of the above. The final dash to manage accounts, create reports and generate analysis is common to many businesses. However, in the complex world of alcoholic drinks, the end of the financial year can often seem even more overwhelming.

Nothing can completely eliminate the risk of that last minute stress. Across the industry, companies must grapple with changing regulations, international trading and complex inventories, so no preparation is fool proof. However, careful planning and solid, established processes can ensure a business is ready for any snags along the way. In fact, the start of the financial year is the ideal time to adopt good habits.

Building success on solid foundations

Moving to a comprehensive business management software solution such as Bevica is a simple way to adopt several good habits simultaneously. Bevica is an enterprise resource planning (ERP) software solution that has been created specifically for the drinks industry. This means that it has the standard capabilities to manage the general challenges of running a company but also has additional industry-specific capabilities that all drinks businesses will benefit from.

In an industry driven by the complexities of duty, and frequently its changes, Bevica is a system that can track duty clearly and flexibly. The software can automatically schedule an update to sales prices to account for duty changes, avoiding the tedium of manual calculation and adjustments. Its stock control functionality makes tracking and changing duty simple, meaning businesses can calculate their duty charges as they go and trust the results during and at the end of the year.

Bevica’s software also keeps inventory tracking simple. In an industry where some products have a limited shelf life, yet others are designed for years of cellaring, knowing their status and value is essential. With options to flag best before dates, mixed packs and regional origin, for example, Bevica’s inventory management functionality reflects the ways a drinks company operates. This means that at the end of the year, a business can trust its inventory data and report with accuracy.

An all-in-one solution to business challenges

Another particular benefit at the end of the financial year is that Bevica integrates all of an organisation’s key processes into a single platform. From sales and order processing to inventory management to customer relationship management, it tracks all the key elements across a business. Operating under one system, this data can be easily accessed, analysed and cross-referenced throughout the year. This means that, at the end of the year, reports are easy to access and compile, the work having already been started.

Moreover, Bevica is powered by Microsoft Dynamics 365 Business Central. As a widely used software system in the alcoholic drinks sector, it is supported by regular updates and UK based technical support for peace of mind. Another advantage of using a Microsoft powered solution is that it has an intuitive user interface which ensures that reports, invoices and other vital documents can be accessed in Microsoft 365 (generally referred to as Office 365). Thanks to the familiar software, these are accessible to a wide cross-section of any organisation and teams from across a business can be more involved in year end reporting and analysis.

All of these features are even more useful thanks to Bevica being cloud-based. With access from anywhere in the world, teams can see key data as and when they need it, and this ensures businesses can keep on top of their accounting. As a result, any last-minute issues when year end comes around can be quickly remedied.

April 2025 may seem a long way off, but it will creep up. Putting a comprehensive business management system, such as Bevica, in place early in the year is a helpful way to avoid later issues and stress in March 2025.

To find out more about Bevica, book your place on one of the Introduction to Bevica webinars. Upcoming dates include 8 May, 29 May and 12 June 2024.