Why You Need to Start Using ERP Software

Whether you are a small business owner looking to growing your customer base and increasing your revenue or the CEO of a large enterprise struggling to streamline your business processes and satisfy the needs of your customers, you are going to need the help of ERP software.

Growing a business has never been easy and it probably never will. With so many pitfalls and challenges in the business terrain, Entrepreneurs and business owners must work twice as hard to ensure that every facet of their business is up and running. This often leaves them wasted and tired at the end of the day. But there is an easy way to monitor everything in your company at the touch of a button. It is with ERP software. Intuitive Cloud ERP Software is designed to manage everything from supply-chain, manufacturing and reporting to accounting and human resource activities. With it, you will be able to automate your business processes and reduce error and maximize productivity.

The following article by Microsoft sheds light on some compelling reasons why business owners need to start using ERP software.

What is ERP and why do you need it?

ERP is an acronym that stands for enterprise resource planning (ERP). It is business process management software that manages and integrates a company’s financials, supply chain, operations, reporting, manufacturing, and human resource activities. Read more here.

You likely now know some reasons why you should consider investing in ERP software as well as some signs that you need to start using one. As you probably know, business growth isn’t only about making noticeable changes in your business module. At times, small changes like upgrading your ERP system or investing in one could transform your company and skyrocket your productivity and revenue.

The following article by Smartsheet explains how ERP resources can transform your business.

Transform Your Business with Enterprise Resources Planning

The origins of enterprise resource planning (ERP) date back over a century. The ERP process consists of linking or integrating the numerous and disparate functions of an organization, both back- and front-office operations. Read more here.

You surely now know some easy ways to scale your business while increasing workflow and customer satisfaction. The benefits offered by ERP systems can potentially transform your business and boost your productivity. After deciding to invest in one, you are likely going to be met with the challenge of choosing between the many ERP systems that are available.

The following article by bigcommerce unveils some of the most powerful ERP tools on the market right now.

Powerful enterprise integrations and e-commerce apps

Brightpearl is an omnichannel retail management platform streamlining inventory management, order management, CRM and accounting. NetSuite ERP Connector by Patchworks- Pre-built integration between NetSuite and Big Commerce Read more here.

You now know some of the best ERP apps on the market, how they work, how much they cost and what buyers had to say about their features and performance. While all of them are great, they aren’t the same. To narrow down a good one that will suit the unique needs of your business, you are surely going to do deep and extensive research.

Final note

Your ability to make the right decisions consistently and use tools to streamline and automate your business activities will go a long way in ensuring the overall growth of your business. Gone are the days when business owners must work very hard to monitor the various parts of their business manually.

Today, there are management systems that can make the job of managers easier. With ERP software, for example, business owners can monitor everything from sales to manufacturing and make data-driven decisions that will take their business to the next level.

Steps to a Better ERP Solution for Your Business

Some companies have hesitated to adopt other business solutions. This is because what they are using now is either working well, or they are not ready to invest in another system. Unfortunately, if your business solution is not working as effectively as it once did, you may need to decide if it is time for a better Enterprise Resource Planning system (ERP).

Examine the limitations of your current system

Before looking at the financial implications of acquiring a better ERP system, it is important to look at the limitations of your current system to your company. If you bought the system when your business was still small, how adaptive has the system been to your company’s growth? If your client base has widened, or if you have entered new markets, does the system capture the additional information? If the growth is too fast for your system, you need a better ERP solution.

What solutions is the current system offering?

It is easy to say you presently do not need a better ERP solution because what you have is working. However, before writing off an alternative system, you need to compare the business solutions. This way, you will know what you are missing from the current system. For example, besides providing a financial solution, what other components of your business can use the system? How does this system help the human resource department? Can you collect data of your clients to help you when coming up with a marketing strategy?

Can the system be integrated with others?

Having multiple systems can be overwhelming, especially for Directors. This is because every aspect of the business needs updating. It is difficult to see the relationship between the different components of the company when you are not using one system that shows a link in the operations of the various departments.

For example, if your clients place orders online, how many of these orders translate to sales? How many goods are returned? How does this affect the financial standing of the business? If your current system is inefficient, you may need a better system to manage your business.

Can you easily look at future projections?

Running a business involves making informed decisions promptly to avoid losses. Some businesses fail because entrepreneurs took too long to take steps to save the company. If your current business solution does not provide you with adequate information to project growth, a better ERP system is required.

Is access to the system on-premises or in the cloud?

Easy access to information is essential, especially in today’s global economy. Many businesspeople travel to various countries when seeking new markets or products. Some companies have become international after opening branches in other nations. Directors and entrepreneurs use modern ERP systems because they can access data from anywhere.

If your current system keeps you in the dark when you are away, you should think about investing in a business solution that is deployed in the cloud. This will help you to take the necessary steps to solve problems that may arise in your absence.

If you are torn between getting a new system or retaining the current one, it is important to look at the gains of the new system over the limitations of the system currently in use. If the benefits outweigh the cost, it will be a worthwhile investment. Remember, an excellent ERP system will spur growth.

A Look at the Features of Microsoft Dynamics 365

Microsoft Dynamics 365 was released in April 2018. It has been declared as the game changer of how the modern business processes work in the world. It is basically a suite of applications, each designed to target a sector. Previously, Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) worked in the form of two separate entities with no mode of communication between them. The tech savvy think tanks of Microsoft decided to incorporate these two together into a super software that came to be known as the Microsoft Dynamics 365 Business Central.

Ever since its release, the software has been received by the business community with open arms. It has a real-time user interface that is easy to use, and the overall package is not expensive. So small scale to medium businesses that couldn’t afford software’s such as ERP, have also been able to implement Microsoft Dynamics 365.

Technology and Innovation in Singapore

Singapore is a rich country affluent with international businesses that owe much to its growing GDP. The country offers a very flexible tax paying environment and the government is applauded for being very honest and helpful. This has always favored Singapore in attracting more international investments. The businesses are paid special importance and young entrepreneurs are encouraged to put up small companies. The aim of Singapore is to improve more in every field and grow revenue from businesses.

Innovation is key to expanding such businesses and companies. There is always a better tool in the market that can help systemize business processes. Singapore has always been very open to adopting such software’s and tools into its companies and a growing revenue is the successful result.  Thus, the adoption of Microsoft Dynamics 365 has been welcomed with open arms by businesses in the country.

Microsoft Dynamics 365 at Work

The software is a very comprehensive tool that adheres all the important applications of a business and streamlines them into one super platform. The features such as accounts, finance, customer relations, sales and inventory are now all seen, with transparency into one system. It’s a cloud-based system that can be viewed and dealt with at any time and place.

The nature of the software is very user friendly that can be used by any user and does not require special training. There is a very long and comprehensive customization involved, where the user molds the system according to his requirements. A proper customization ensures that all the workflow is efficient and according to the demand of the business. The sale leads are paid a lot of importance and bettered with advice on how the ones that are lagging, could be improved.

The operations performed by Microsoft Dynamics 365 have improved capabilities. Not to mention the extensive set of customer relation operations, which are constantly modified, checked and automated. Like all software’s, the users have faced a few glitches in the use of the application but with think tanks such as Microsoft, most of these problems have been resolved and systems keeps up to date.

Things to Do After an Inventory Check

Fortunately, stock take apps have simplified the process of taking inventory for all businesses. However, just because you can see the information at any time does not mean you forget the steps you would have taken had you tallied the inventory manually. The stock you sell and what is left behind tells every business person something. The stock shows the state of the business. At a glance, a professional can determine if the company has sufficient cash flow or if most of the capital is tied in stock. If you are a business owner or work in stock taking and inventory, doing research on improving your operating processes is important and stock take apps like the one here: https://orangekloud.com/stock-inventory-app/ should be what you take a look at.

Verify that the information captured by the app is accurate

Although stock take apps are more accurate than manual systems, they still rely on human input, primarily if the client did not shop online. Sometimes one may input the information wrongly or fail to record the sale as required. After a specific period, it is best to take an inventory to confirm that the available records are right and that the decisions made against the information available were made in the best interest of the business.

Carry out an audit of the income against the items sold

It is easy to be caught up in a cycle of buying and selling products without genuinely evaluating the actual state of the business. A business having sufficient cash flow does not mean it is making a profit. It is crucial for the company to confirm if the gains outweigh the operating costs. Choosing to do this seasonally will help you determine if the price at which you are selling the products is right or if it should be revised upwards. This audit will also assist in providing a guide on how to handle slow-selling products that need to be sold and replaced with better ones.

Generate inventory reports

All businesses have seasons when things are going well, and times when sales are low. It is important for business owners to plan for the low seasons. It would be unfortunate if all the financial capital is tied up in stock. Failure to keep track of expenses also finds some businesses flat-footed when things go wrong. It is vital for business owners to remember there are costs, such as wages and rent which need to be paid, whether the business is doing well or not. Monthly reports will help entrepreneurs and managers to appreciate all that happens in the company and the necessary decisions to be made.

Identify high-risk areas

The stock take app will show you high-risk areas. For example, if the app is linked from the retail point of the business, you can identify if clients complete the transactions or if they give up before purchasing anything. In this case, the challenge might be the products, the price or the layout of the site. If the marketing strategy does not seem to yield the expected results, the problem might be the target population or the marketing style used. Plenty of information can be got from the stock status and report. This information can be used to keep the business from failing or to help it grow faster than anticipated.

 

A stock take app is a vital tool for all businesses. It can be used to identify some of the things that are being taken for granted, yet clients consider it very important. It is possible for every business to become a household name. However, for this to happen, the company needs to be looked at as a whole, instead of independent parts of a whole.

 

Advantages of CCTV Analysis in Retail Setup

Theft is a biggest issue in the retail stores that impact the success of any retail stores or showrooms. No matter how much efforts you make to protect your retail outlet, there is always a potential problem related to theft.

Check out ATT Systems CCTV Video Analytics for a good solution today.

Problem of retail theft and loss can be prevented through retail security system. Security cameras play a crucial role in stepping up the security systems in retail outlets. If you are an owner of a retail business then you must look into the benefits of installing security cameras.

Use video surveillance for loss prevention
The loss of inventories due to theft is the primary concern for retail stores these days. A security camera is a solution to cut down the inventory and will automatically help in evading negative financial impact on your business. It will not only help to track down the thief but also record the intention or attempt made by any person before it is actually done.

Constant surveillance
Security camera gives you 24/7 facility. Even if you are not there in the store or if you are miles away you would be able to monitor your retail store without any extra effort. Data gathered in 2015 showed that almost 35.5% of inventory lost is due to theft. Video surveillance also keeps track of dishonest employee. Substantial evidence generated from the CCTV can be used as evidence for theft accusation.

Improves customer service
Happy customers make your business grow one step ahead of what others are striving for. Ensuring that customers are having pleasurable experience while shopping plays huge part in your success. It ensures that your employees are fulfilling all guidelines in serving customers. Security camera not only helps in deterring theft, but it has also been proved to be beneficial for business growth.

Digital Storage
Unlike other security devices, CCTV video analytics helps in storing data in digital video recorders (DVRs) and network video recorders (NVRs), making it easier to retrieve data during times of need.

Helps in improving the layout of store
Lastly, you can use video cameras to design your store and improve the layout. It helps to track the shopper’s shopping pattern and on the basis of which you can target customers’ need and strategize your store layout.

To avoid cost, one must take all the possible efforts before installing security cameras in retail stores. Nowadays, market offers great advanced technology at the lowest possible rates.