#Why ERP software benefits multinational businesses
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Why ERP software benefits multinational businesses
The benefits of ERP software are numerous and well-documented. However, it can be difficult to find the right type of system for your needs and to know what features you should look for. Here is a guide that will walk you through some of the top features you should be looking out for and what an enterprise resource planning software can do for your business.
What is ERP software?
Enterprise Resource Planning (ERP) software is a type of business management software that helps businesses manage and automate their core business processes. ERP software typically includes modules for accounting, supply chain management, customer relationship management, and human resources.
ERP systems can help businesses improve efficiency and visibility across their operations. By consolidating data from multiple business processes into a single system, businesses can get a more holistic view of their operations and make better-informed decisions.
In addition, by automating key business processes, businesses can free up time and resources that can be better spent on other tasks. automating inventory management, for example, can help businesses avoid stock-outs and reduce the need for manual data entry.
Overall, ERP Software can be a valuable tool for businesses of all sizes. By helping businesses manage their core processes more effectively and efficiently, ERP systems can give businesses a competitive edge in today’s marketplace.
Types of ERP Software
There are many different types of enterprise resource planning (ERP) software on the market today. Here is a brief overview of some of the most popular ERP software solutions:
1. Oracle ERP Cloud: Oracle ERP Cloud is a comprehensive cloud-based ERP solution that offers a complete suite of applications, including financials, human resources, procurement, and project management.
2. SAP Business One: SAP Business One is a powerful, yet easy-to-use ERP system designed specifically for small and medium-sized businesses. It offers all the core ERP functionality your business needs to run effectively and efficiently.
3. Microsoft Dynamics GP: Microsoft Dynamics GP is a robust and flexible ERP system that can be customized to meet the specific needs of your business. It offers deep integration with Microsoft Office and other Microsoft products, making it easy to use and learn for your employees.
4. Infor CloudSuite: Infor CloudSuite is a complete, cloud-based ERP solution that offers best-in-class applications for financials, human resources, supply chain management, and more.
5. Epicor ERP: Epicor ERP is a comprehensive enterprise resource planning (ERP) system that can be easily tailored to meet your specific business needs. It features built-in supply chain management, customer relationship management (CRM), and enterprise asset management (EAM) capabilities.6. Microsoft Dynamics AX: Microsoft Dynamics AX is a comprehensive ERP solution that can be used to manage your entire business—including inventory, manufacturing, and financials—from a single system.7. Oracle ERP Cloud: Oracle ERP Cloud offers on-demand access to all of Oracle’s essential business products from a single cloud-based interface.8. Business Objects Cloud CRM: Business Objects Cloud CRM provides a complete suite of sales, marketing, customer service, and analytics tools for small businesses via
Why are ERP systems Useful for businesses?
Enterprise resource planning (ERP) systems are software programs that help businesses manage their core operations, including accounting, human resources, customer relationship management (CRM), and supply chain management.
ERP systems are designed to provide a centralized view of an organization’s business processes, which can make them more efficient and allow for better decision-making. In addition, ERP systems can help businesses automate many of their manual tasks, such as invoicing and inventory management.
Overall, ERP systems can be very beneficial for businesses of all sizes. They can help improve efficiency and accuracy, while also reducing costs.
How to choose the best ERP for your business
When it comes to choosing enterprise resource planning (ERP) software for your business, there are a lot of factors to consider. But with so many options on the market, how do you know which one is right for you?
Here are a few things to keep in mind when choosing ERP software for your business:
1. Make sure the software is customizable.
Every business is different, so you’ll want to make sure that the ERP software you choose is customizable to fit your specific needs. Otherwise, you’ll likely run into problems down the line.
2. Consider ease of use.
You’ll also want to consider how easy the software is to use. After all, you don’t want your employees wasting time trying to figure out how to use the system. The last thing you want is for your ERP system to become a hindrance instead of a help.
3. Look at the big picture.
It’s important to take a step back and look at the big picture when choosing ERP software. Don’t just focus on the here and now—think about how the Software will impact your business in the future. For example, will it be able to
What are the Advantages of an ERP system?
An Enterprise Resource Planning (ERP) system is a comprehensive, integrated software solution that helps businesses manage their core operations. ERP systems are designed to provide visibility and control over all aspects of the business, from financials and accounting to manufacturing and supply chain management.
ERP systems offer a number of advantages and benefits that can help businesses streamline their operations, improve efficiency, and drive growth. Here are some of the key benefits of an ERP system:
1. Improved visibility and control: An ERP system gives businesses a real-time view of their operations across all departments and locations. This improved visibility enables managers to make better decisions, identify issues and opportunities, and track progress towards goals.
2. Increased efficiency: ERP systems automate many of the tasks associated with running a business, from financial reporting to inventory management. This automation can free up time for employees to focus on more value-added tasks, leading to increased efficiency across the organization.
3. Enhanced decision making: The comprehensive data available in an ERP system provides valuable insights that can be used to make informed decisions about the business. This data can help businesses optimize their operations, make strategic decisions about growth, and more.
Disadvantages of an ERP system.
There are some potential disadvantages of an ERP system that should be considered before investing in such a system. These potential drawbacks include:
1. High Costs: ERP systems can be very costly to implement and maintain. This is especially true if the system is not properly scoped and configured for the specific needs of the organization.
2. Inflexible: Once an ERP system is in place, it can be very difficult and expensive to make changes to the system. This inflexibility can be a problem if the needs of the organization change over time.
3. Complex: ERP systems can be quite complex, making them difficult to use and understand. This complexity can lead to errors and inefficiencies in the system.
4. Dependent on IT: Since ERP systems are so complex and dependent on technology, they can be difficult to use and manage without a strong IT support infrastructure.
Choose an ERP for your Business.
Are you looking for a new Enterprise Resource Planning (ERP) software for your business? Not sure where to start or what to look for? In this blog post, we’ll go over some of the benefits of ERP software and help you choose the right one for your business.
An ERP system can offer many benefits for businesses of all sizes. Perhaps the most obvious benefit is that it can help to improve efficiency and productivity by providing a central repository for all your business data. This can make it much easier and faster to access the information you need, when you need it.
Another big benefit of ERP Software is that it can help to improve decision-making throughout your organization. By giving everyone access to the same data, and providing tools for analyzing that data, you can make sure that everyone is on the same page when it comes time to make decisions about your business.
Finally, ERP Software can also help to improve customer service. By tracking customer orders and preferences, you can ensure that each customer gets the individual attention they deserve. And by integrating your customer data with your financial data, you can get a complete picture of your customers’ needs and how best to meet them.
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SAP HR Module Pdf
Unlocking the Power of SAP HR: Your Essential PDF Guide
Managing human resources within any organization is a cornerstone of success. SAP’s Human Resource (HR) module, or SAP HCM (Human Capital Management), is a robust software suite designed to streamline and optimize all your HR processes. In this comprehensive PDF guide, we’ll dive into the key features and benefits of the SAP HR module.
What is the SAP HR Module?
The SAP HR module is a more extensive SAP ERP (Enterprise Resource Planning) system component. It’s designed to handle a wide range of HR functions, including:
Payroll Management: Automate complex payroll calculations, ensure accuracy, and maintain compliance with tax regulations.
Time and Attendance: Efficiently track employee time, calculate work hours, and streamline leave management processes.
Organizational Management: Build a clear organizational structure, define roles and responsibilities, and visualize hierarchies.
Personnel Administration: Centrally manage core employee data, from personal information to contracts and benefits.
Recruitment and Talent Management: Find and attract top talent, manage the recruitment pipeline, and support employee development.
Why Use the SAP HR Module?
Increased Efficiency: SAP HR automates repetitive tasks, eliminates manual errors, and frees up HR staff for strategic initiatives.
Improved Data Accuracy: A centralized HR system reduces data redundancy and ensures the integrity of your employee records.
Enhanced Compliance: SAP HR helps you stay current with changing regulations regarding payroll, taxes, and labor laws.
Better Decision-Making: Real-time HR analytics and reporting provide insights into workforce trends and support informed decision-making.
Global Capabilities: SAP HR supports multinational businesses, handling diverse currencies, languages, and local regulations.
Key Features of the SAP HR Module
Here’s a breakdown of some essential features to illustrate the module’s power:
Infotypes: SAP HR uses ‘Infotypes’ as data storage units. Each Infotype holds a specific set of employee information (e.g., Personal Data, Addresses, Bank Details).
Employee & Manager Self-Service: Web-based portals allow employees and managers to view and update their information, request leaves, etc.
Workflows: Automate HR processes like approvals, notifications, and document flow.
Reporting and Analytics: Generate standard reports or build custom ones for deeper workforce insights.
Getting Started with SAP HR (PDF Guide)
[Include a hypothetical table of contents for a PDF guide]
Introduction to SAP HR
Master Data Setup
Payroll Configuration
Time and Attendance Management
Organizational Management
Employee Self-Service
Reporting and Analytics
… [other relevant sections]
Conclusion
The SAP HR module is a powerful tool that helps organizations transform their HR operations. By streamlining processes, improving data management, and providing actionable insights, SAP HR enables businesses to optimize their most valuable asset—their people.
[Call to Action] Enhance your SAP HR skills! Download our complete PDF Guide for a deep dive into configuration, best practices, and troubleshooting tips. [Hypothetical Download Button]
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SAP HR Koenig
SAP HR: Mastering Human Capital Management with Koenig SolutionsIn today’s rapidly evolving business landscape, Human Resource Management (HRM) has become more strategic than ever. Organizations increasingly use advanced software solutions to streamline their HR processes, improve employee experiences, and make data-driven decisions. SAP HR, also known as SAP HCM (Human Capital Management), is one such powerful tool at the forefront of this transformation. Koenig Solutions is a leading SAP HR training and certification provider, enabling professionals to master this critical software suite.What is SAP HR?SAP HR is a comprehensive SAP ERP (Enterprise Resource Planning) system module. It’s designed to automate and optimize a wide range of HR functions, including:
Organizational Management: Creating and maintaining organizational structures, job positions, and reporting hierarchies.
Personnel Administration: Managing core employee data, contracts, and payroll.
Time Management: Tracking working hours, attendance, leaves, and creating complex work schedules.
Recruitment: Streamlining the entire recruitment process, from attracting talent to onboarding.
Talent Management: Performance appraisals, identifying skill gaps, and succession planning.
Learning and Development: Providing training opportunities and tracking employee development.
Why Choose SAP HR?
Integration: SAP HR seamlessly integrates with other SAP modules, such as Finance, Sales & Distribution, and Materials Management, creating a unified system for efficient business processes.
Customization: Organizations can tailor SAP HR to fit their unique needs and policies.
Scalability: It supports organizations of all sizes and can grow with a business.
Global Reach: SAP HR accommodates multinational companies with features for localization and compliance with laws and regulations across countries.
Analytics and Reporting: SAP HR offers powerful tools for data analysis, helping HR make informed decisions about talent and workforce strategy.
The Koenig AdvantageKoenig Solutions stands out as a premier SAP HR training provider. Here are the benefits of choosing Koenig:
Comprehensive Curriculum: Koenig offers in-depth SAP HR courses covering all the essential modules and functionalities.
Experienced Instructors: Courses are led by SAP-certified experts with real-world implementation experience.
Hands-on Learning: Training emphasizes practical skills and scenario-based exercises to prepare you for working with SAP HR in a live environment.
Flexible Formats: Choose from online, classroom-based, and blended learning options to suit your preferences.
Certification Preparation: Koenig’s courses are aligned with SAP certification exams, ensuring you’re ready to validate your skills.
Who Should Consider SAP HR Training with Koenig?Koenig’s SAP HR training is valuable for diverse professionals:
HR Professionals: Master SAP HR to optimize processes and improve employee experiences.
IT Professionals: Learn to configure, customize, and support SAP HR implementations.
Consultants: Become an SAP HR implementation specialist and advise businesses on best practices.
Business Analysts: Understand HR processes within the SAP ecosystem and aid in system optimization.
Embark on Your SAP HR JourneyIf you want to enhance your HR expertise or transition into a lucrative SAP career path, Koenig Solutions is the ideal partner to guide you. Explore their SAP HR course offerings [link to Koenig’s SAP HCM courses] and take the first step towards becoming an SAP HR expert.
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SAP FI Module
SAP Finance: The Backbone of Financial Management
SAP’s Finance (FI) module is a powerful component of the SAP ERP (Enterprise Resource Planning) suite, offering a comprehensive set of tools to streamline and automate financial processes within organizations. Whether you’re a business owner, a finance professional, or simply interested in enterprise software, this blog explores the key aspects of SAP Finance and why it’s so essential for modern businesses.
What is SAP Finance (FI)?
The SAP FI module is purpose-built to manage an organization’s financial data, providing real-time insights into financial health and performance. It’s designed to handle critical financial tasks ranging from day-to-day accounting to strategic reporting and analysis.
Key Sub-Modules Within SAP FI
SAP Finance houses several sub-modules specializing in different financial areas:
General Ledger (G/L) Accounting is the core of financial accounting, tracking and providing a complete picture of all financial transactions.
Accounts Receivable (AR): Manages customer invoice payments and ensures timely collections.
Accounts Payable (AP): Manages vendor invoices payments and optimizes outgoing cash flow.
Asset Accounting: Handles the entire lifecycle of fixed assets — acquisition, depreciation, and retirement.
Bank Accounting: Integrates with bank systems, reconciles bank statements, and manages cash balances.
Other sub-modules like Funds Management, Travel Management, and Legal Consolidation offer specialized functionalities.
Benefits of Using the SAP Finance Module
Improved Financial Control and Compliance: SAP FI helps enforce accounting standards and regulations like GAAP or IFRS, ensuring data accuracy and preventing discrepancies.
Real-Time Financial Insights: With up-to-date financial information always at hand, you can make better, more informed strategic decisions.
Streamlined Processes and Automation: SAP FI automates repetitive tasks, reducing manual errors and increasing efficiency in your finance department.
Enhanced Reporting and Analysis: Generate insightful financial reports, balance sheets, profit and loss statements, and more. This empowers data-driven analysis of your organization’s performance.
Integration with Other SAP Modules: Seamless integration with Sales and Distribution (SD), Materials Management (MM), Production Planning (PP), and other modules enables a holistic view of the entire business.
Who Should Consider Using SAP Finance?
SAP Finance suits companies of all sizes, but it has particular advantages in the following cases:
Mid-to-large enterprises with complex financial processes and high-volume transactions.
Multinational Companies managing diverse currencies, regulatory requirements, and accounting standards across different locations.
Organizations in Need of Real-Time Visibility into operations and financial performance.
Businesses Seek to Streamline financial operations and reduce reliance on manual processes.
Getting Started with SAP Finance
Implementing SAP Finance involves a structured and well-planned approach. Consider the following:
Business Needs Assessment: Evaluate the pain points of current financial processes and identify areas where SAP Finance can provide value.
Implementation Partner: Choose an experienced SAP consulting partner to guide and support you through implementation.
Customization and Configuration: Adapt the SAP FI system to meet your business requirements.
Training: Provide comprehensive training for your finance team and other relevant employees.
The Future of SAP Finance
SAP continuously invests in innovation, bringing new capabilities to SAP Finance. Cloud-based solutions like SAP S/4HANA Finance offer scalability and access to the latest functionalities. With machine learning and AI advancements, SAP Finance is poised to become even more intelligent, further simplifying and automating financial tasks.
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Why Microsoft Dynamics NAV is the Leading ERP Provider in India?
Introduction
Microsoft Dynamics NAV is an ERP software suitable for small and medium-sized businesses. It is used to manage finances, operations, sales, and customer relationships. Microsoft Dynamics NAV offers a comprehensive set of features that can be adapted to the specific needs of a business.
LFSPL has been working with Microsoft Dynamics NAV for over a decade and is one of the leading partners in India for its implementation. We have successfully implemented it in hundreds of businesses across industries including manufacturing, trading, logistics, pharma, retail, and many more. Our team of experts has in-depth knowledge of the software and can help you make the most out of it.
Microsoft Dynamics NAV has been ruling the roost in the Indian ERP domain for a considerable period. It is preferred by innumerable businesses due to the host of advantages that it offers. The ERP software is reputed for being feature-rich and robust, which makes it apt for implementation in organizations of any size and scale. Some other plus points that work in favor of Microsoft Dynamics NAV are mentioned as follows:
1. Excellent scalability – This characteristic enables businesses to expand or contract their operations without having to worry about the ERP software not being able to support the changes.
2. Seamless integration with Microsoft Office 365 applications – This allows users to access their data from any location and device at any time they want, boosting productivity manifold.
3. Quick deployment and easy customization – These two factors make the software highly user-friendly, resulting in minimum training needs and quick ROI realization.
Microsoft Dynamics NAV is the leading ERP provider in India
Microsoft Dynamics NAV ERP provider in India can provide the best possible service to our customers. From large multinationals to small businesses, Microsoft Dynamics NAV provides a comprehensive solution that meets the needs of all types of businesses. Our partners here in Mumbai are experts at providing tailored support for Microsoft Dynamics NAV, ensuring that you get the most out of your software investment. They understand how important it is to have a partner who can help you navigate through complex scenarios and solve any problems that may arise. So if you're looking for an ERP provider with years of experience and a commitment to customer satisfaction, then look no further than Microsoft Dynamics NAV.
Microsoft Dynamics 365 suite offers great value for businesses
The Microsoft Dynamics 365 suite offers great value for businesses of all sizes, with features that are tailored specifically to Indian business needs. From inventory management to finance and procurement, Microsoft Dynamics 365 has everything you need to run your business efficiently. Plus, our team of experts is available 24/7 to help you get started or answer any questions you may have. So why wait? Contact us today to learn more about how Microsoft Dynamics NAV can benefit your business!
Microsoft Dynamics 365 is a comprehensive business solution that offers great value for businesses in India. It includes all the necessary tools and features to help businesses streamline their operations, improve productivity, and make better decisions. Microsoft Dynamics NAV is the leading ERP provider in India because it offers a complete suite of ERP solutions that are tailored to meet the specific needs of businesses in India.
Microsoft Dynamics 365 Business Central offers detailed performance analytics and real-time insights
It offers detailed performance analytics and real-time insight that help businesses manage their operations more effectively. With its intuitive interface, Microsoft Dynamics 365 Business Central makes it easy to track key performance indicators (KPIs) and make informed decisions based on data analysis. This comprehensive solution also provides a platform for automating business processes, creating robust customer relationships, and tracking financial transactions. So if you're looking for an ERP that can handle your complex business needs, then look no further than Microsoft Dynamics 365 Business Central.
Microsoft Dynamics 360 suite offers a best-in-class customer experience
The Microsoft Dynamics 360 suite includes everything you need to manage your business finances, operations, and sales. It's easy to use and has been designed with Indian businesses in mind, providing features like localized content and currency conversion. Plus, the customer support team is available 24/7 to help you get the most out of your software.
Additionally, Microsoft Dynamics NAV integrates seamlessly with other Microsoft products, making it a natural choice for businesses that are already using Microsoft products and services. Finally, the software is highly customizable, meaning that businesses can tailor it to their specific needs and requirements.
Conclusion
Microsoft Dynamics NAV is a powerful financial management solution that can help your business manage all of its finances in one place. If you're looking for a reliable partner to help you get started with Microsoft Dynamics NAV, LFSPL should be your first choice. We've been working with Microsoft Dynamics NAV since its early days, and we know how to implement it successfully into your business. Contact us today to learn more about our services!
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5 Important Considerations for Implementing ERP for Your eCommerce Business
The eCommerce industry is booming, and it's not slowing down anytime soon. With the growth of the industry, there are more and more companies looking to get in on the action.
The implementation of ERP systems for eCommerce businesses is a crucial aspect of success. There are many considerations that need to be taken into account before diving into an ERP project.
This article will cover five important considerations for implementing an ERP system for your eCommerce business.
Introduction: What is an ERP?
Enterprise resource planning (ERP) is a system that integrates data from various departments and business functions in order to provide a single view of the organization's operations.
ERP systems are used by organizations of all sizes, including small businesses, large multinational corporations, government agencies and non-profit organizations.
An ERP system can be as simple as a database or spreadsheet shared between two people, or it can be as complex as an entire enterprise-wide system with multiple modules for finance, manufacturing, human resources and customer service.
The Importance of ERP for your Ecommerce Business
ERP is the backbone of any ecommerce business. It helps in managing inventory, customer data, and orders. It also manages the company's financials, accounting, and reporting.
A good ERP system will help you to manage your inventory better and provide accurate real-time reports on sales volume, profit margins etc.
ERP can be integrated with other systems like CRM or POS to provide a complete solution for your ecommerce business needs.
3 Reasons to Use an Integrated E-Commerce Platform
E-commerce is a booming industry and the need for an integrated platform has become more evident with the rise of e-commerce giants such as Amazon.
An integrated e-commerce platform provides a holistic view of all your business data. It makes it easier to manage inventories, track customer behavior, and generate insights. In this article, we will look at three reasons why you should use an integrated e-commerce platform to run your business.
1) Ease of management - An integrated e-commerce platform makes it easier to manage inventories and track customer behavior, which can lead to better decisions and increased sales.
2) Cost savings - The integration of enterprise systems with an e-commerce platform reduces cost for IT support and development time for integrations between systems.
3) Increased customer experience - As the number of products and services offered by merchants increases, it becomes easier for customers to find what they are looking for.
How to Make the Decision on Which ERP to Choose For Your E-Commerce Business
There are many ERP systems that offer different features and functionalities. It can be difficult to decide which one to choose for your business. This article will help you understand the benefits of different ERP systems and how they can be used in your business.
The first step is to understand the requirements of your business, what kind of products or services you provide, the number of employees, etc. The next step is to find a list of ERP software that matches these requirements. Once you have found some possible solutions, compare them based on their features and functionality.
The last thing you need to do is test out the top candidates by looking at demos or trying them out yourself before making a decision.
If you are looking for a cloud-based ERP system, then we would recommend Browntape. As it integrates with enterprise eCommerce platforms to provide an end-to-end solution for managing your entire supply chain, from order fulfillment to product creation to inventory management. Browntape can also help you make the decision on which ERP to choose for your eCommerce business by providing you with the following benefits:
1) Increased visibility and control
2) Automated order processing
3) Real-time dashboards and reports
4) Improved customer service
5) Reduced operating costs
5 Ways to Ensure Successful Implementation of ERP System in Your E-Commerce Company.
The research of this paper explores the issues related to the compatibility between service providers and customers. This paper will also explore processes that can help develop a customer-centric system for businesses. that is effective.The objective of this paper is to provide a better understanding of the ERP system in an e-commerce company that can help improve the overall effectiveness and efficiency for both customers and providers. To achieve this, we will be looking at following key points that can help develop an effective implementation plan for large scale ERP systems.
1) Scope development of our system: The scope development is one of the most important steps in implementing an ERP system. The scope should be limited to only the areas that are required within your company and should cover all the data related to your business process.
2) Integration with external systems: Integrating the system with your existing IT infrastructure is a good way to test how your business data will be handled by the new software.
3) Creating a project plan: The project plan should outline the steps required to implement the new software and should include a timetable.
4) Data analysis & modeling: Data analysis is important because it will allow you to determine how your business process has been affected by the ERP software, what inefficiencies have been created, and how they can be fixed.
5) Strategic planning: This is the phase where you will create your business plan and analyze what type of company you want to be.
Conclusion
The conclusion is that there are many different ERP systems available for e-commerce businesses. The decision on which one to choose will depend on a number of factors including business needs, type of products and services offered, size of the company, and what you want to accomplish with your integration.
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Why ERP software benefits multinational businesses
Why ERP software benefits multinational businesses
The benefits of ERP software are numerous and well-documented. However, it can be difficult to find the right type of system for your needs and to know what features you should look for. Here is a guide that will walk you through some of the top features you should be looking out for and what an enterprise resource planning software can do for your business.
What is ERP software?
Enterprise…
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Plan Your ERP Implementation with These Following Steps
Implementing ERP in your system gives you an edge in transforming into a digitally functioning organization. Your business can grow, grab new opportunities, and update itself from its legacy system to a new advanced ERP system. However, implementing an ERP system is not simple hence, you must come up with an organized plan to make it successful. I will list some of the best practices for cloud ERP implementation which will systematically help you, save unnecessary costs, and avoid common pitfalls.
Planning the ERP Implementation Process
Realistic scheduling of the implementation sequence. Ensure the availability of your team, managers, and experts who will be integral to the process.
List down the needs and structure your software technology surrounding the list, to have better utilization of the system.
The plan you have framed and your KPIs will be orchestrated to meet your specific requirements.
But for a successful ERP implementation process, the plan that you must create should have the following aspects.
1. Selecting the Right Partner and Software Provider
The significance of ERP software implementation compels the need for professionals to complete the task. You must conduct thorough research and select a qualified implementation consultant for this job. Ensure that the team has the right amount of experience in installing the cloud ERP you have planned to implement. Also, confirm that they have the appropriate knowledge to guide you on the benefits your business will have on implementing the system.
The industry your business is catered to is also crucial. Check if their team is well-trained in your industry. In case you have international clients, you also must check whether the implementation team is thorough with multinational business, languages, and currency skills for the implementation.
2. Organize the Project Tasks
Choosing a good implementation partner could be very handy. One such instance is planning the project task. The implementation partner will help you structure the task list and everything that is to be done. This list is long and detailed. Training is a part of the ERP implementation process which alone includes many tasks
a) Team Training: The team must have a basic idea of the software so they can direct in how it can process the business operations.
b) IT Training: This training will educate the IT team in installing and maintaining the system.
c) Business User Training: Includes all the users who are willing to use the system.
d) Ongoing Training: A certain continuous training needs to be in process for the new joiners in the company.
3. Calculating the Project Timeline
Careful estimation of the time needed to finish the task, assigning a person for the task, allotting work hours to that person, and then tracking the performance, could be a daunting task for the owner.
That is why you need an implementation partner for this task, who is familiar with the solution. This way you can calculate the timeline, and can figure out if you need any external support outside your existing team, and limit scope creep.
4. Schedule the Entire Procedure
Now once the work hours are sorted, the process schedule can be created. First comes the capacity problem when the time frame is initially presented to the executives. So, here, the executive management people need to take a decision on the execution and plan it effectively.
5. Filter Your Data
To conduct the cloud ERP implementation process accurately, filtering the data is vital. It might sound simple but it is a very time-consuming task to do. The best thing to do is to start with the data cleansing process as quickly as possible as it takes quite a while to finish the work. While doing it, there will be business process changes, so you must be prepared for additional data management support during the implementation.
6. Keep Everyone on the Same Page
On a timely basis, one staff member should inform all the stakeholders of the positives and the negatives of the ERP software implementation process. Everything gets disruptive when people are not regularly updated on the progress and the information hits them like a shock.
Implement Your System with WrkPlan Cloud ERP
Understand that the implementation process takes time, and involvement, and is quite complex. This complexity hampers the business flow of the organization as well. The timeline of the implementation process depends from company to company. WrkPlan provides cloud ERP solutions that have a timeline of not more than 3 days for the cloud ERP implementation process. This will not only keep the business operations ongoing without hampering, but it will offer an economical budget for the company as well. For more information, visit WrkPlan’s website and know more about their products and their offerings. You can also call 1-800-120-2449 to speak to their representative to clarify any confusion.
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What is ERP, and How Do ERP Systems Work?
People who manage people in modern companies of all sizes need to reconcile different business functions. This includes human resources, supply chain management, customer relationship management (CRM) and manufacturing resource planning, among other operations. It can be overwhelming to manage all these aspects of a business manually or independently.
So it's understandable why systems like enterprise resource planning (ERP) are becoming more and more popular. ERP systems are designed to integrate all business functions, creating easier-to-manage workflows and decision-making processes. This gives organizations more time to focus on their core business. Studies show that ERP systems bring countless benefits to any company.
The study results "indicated that ERP systems (enterprise resource planning) had an impact on the organization's performance". In addition, they note that ERP implementation results in "more accurate, real-time information." In this article, I define ERP systems and how they work. I also look at why managers who want automation and enhanced functionality in back-office, product customization, accounting, CRM, and purchasing might consider enterprise resource planning software.
What is an ERP system or enterprise resource planning?
ERP stands for Enterprise Resource Planning, a business management software. In an article produced for CIO.com, an executive news site for CIOs and business technologies, columnist Bart Perkins provides a comprehensive definition of an ERP system. He defines it as an "integrated software application system that standardizes, simplifies and integrates business processes across finance, human resources, purchasing, distribution and other departments." In addition, US multinational information technology company Oracle defines ERP as "a type of software that organizations use to manage day-to-day business activities such as accounting, purchasing, project management, risk and compliance management, and supply chain operations."
Oracle adds that to be complete, an ERP (enterprise resource planning) package must include software that aids organizations in planning, business performance management, budgeting, forecasting, and reporting with details of an organization's profits. ERP systems can also be extended with third-party applications to access features such as product lifecycle management, e-procurement, product data management, data mining and other functions. The ERP system is usually extended through interfaces provided by the supplier.
A brief history of enterprise resource planning (ERP)
ERP systems were introduced around 1990, mainly for use by manufacturing companies. The concept stemmed from Material Requirements Planning II (MRP II) developed in 1983, MRP in 1964, and Economic Order Quantity (EOQ), which emerged in 1913. According to enterprise resource planning software provider QAD. The Gartner Group coined the term ERP to distinguish ERP systems from MRP systems in the 1990s. Q.Inc states that during this time, ERP systems began to be developed to include business intelligence "while dealing with other functions such as sales force automation (SFA), marketing automation and e-commerce ".
Due to some of the challenges with on-premise ERP, vendors have started developing cloud ERPs to provide a SaaS ERP system (ERP supplied as a software service by vendors). Some ofthe shortcomings of the local ERP include, among others, the costs of implementation, licensing and the long duration of execution.
Conversely, SaaS is simple and inexpensive to implement since you'd typically pay a monthly subscription. In addition, users can customize the software according to the specific needs of the industry. This makes the system suitable even for small businesses.
The main features of the enterprise resource planning or ERP system
An enterprise resource planning system has four primary characteristics: modular design, flexible, open and centralized database, and automatic information generation. This software system operates in real-time from a public database that supports all software. This results in a consistent look and feels between modules. The main objective of an ERP software solution is to bring all units together to achieve operational goals quickly. As a result, all business processes are integrated across all business units in a comprehensive approach to streamlining processes and information across the organization.
Perkins provides an excellent example of how ERP uses real-time data to integrate multiple business processes. Use the example of a company that requires customers to order online. As soon as a new order is completed, the ERP automatically checks the price and initiates a credit check if necessary. Check if the product is available and notify the unit that will schedule the delivery. Once the order is delivered, an invoice is sent, and the accounting unit can update its accounts.
Let's take a closer look at the different features of a modern ERP system:
Consistent appearance
The consistent aspect of ERP helps the company to reduce training costs. Perkins notes that early vendors realized that a consistent look and feel helps an organization look more professional. Employees who work in multiple company areas can rely on the same information while working to meet specific customer needs. The integration provided by ERPallows an organization to present a consistent face to the market, whether through accounting software, an order management system or simple spreadsheets.
A common database supports all applications.
One of the significant challenges organizations face is that different departments operate in silos (disjoint units). This can lead to awkward situations where various departments provide customers with conflicting information. An ERP system ensures that a shared database supports all applications. This means that workers from different units can rely on the same database information for their daily activities.
Works in real-time
In the Internet of Things (IoT) age, where devices are constantly connected through technologies such as cutting-edge computing, real-time functionality ensures that every business process can quickly access the information it needs. Edge computing is a system that brings data storage and processing closer to where it will be used. ERP’s real-time feature helps to identify problems quickly and buys business executives time to rectify any issues.
Types of ERP systems
There are three different ERP systems: on-premise software, cloud-based software, and hybrid software. The specific type each organization needs depends primarily on the size of the company, the computing devices available, and the system's ability to meet the needs of the business.
Let's take a closer look at the three types:
Local ERP software
As the name suggests, local enterprise resource planning or ERP software is deployed locally. Therefore, your company mainly checks it after installation. This is the ERP solution you need if you want to have complete control over the security of your ERP system. However, implementing this type of ERP will require having dedicated IT resources on-site to manage application and server maintenance.
Local ERP software offers several benefits, including:
However, third parties must not manage your confidential data.
ERP modules can be customized according to specific business needs.
Provides solid integration options with your other systems.
Cloud-based ERP system.
This type of ERP system is often referred to as software as a Service (SaaS), implying that a third party manages the service. The flexible design allows your team to store and browse data via any device with an internet connection. Pricing is usually based on a recurring subscription.
The main drawback of this type of ERP is that you have to trust an ERP provider to handle some of your sensitive data. However, it has several advantages. For example, you don't need to make a substantial upfront investment to get the system. Furthermore, no specialized equipment or skills are required before implementing the plan.
Hybrid ERP system
The hybrid ERP system is sometimes called a two-tier ERP system. Allows your business to combine cloud-based and on-premise ERP systems. This is a system you would choose if youwant to enjoy the best of both worlds. For example, you can use the experience of ERP vendors without having to allow them to access all of your information.
How does an ERP system work? An enterprise resource planning or ERP system works by decreasing the number of resources needed to manage the business optimally while still ensuring profitability and improving the business. The ERP system differs from a single application in that it allows other business modules in your company to work from a database.
The system collects data from different parts of the company. It puts data in a central location where employees who need it can access it. It dismantles the silos that affect many businesses and ensures that the correct information is available to those who need it. For example, let's say your company's ERP system is almost fully automated. The ERP does the data entry for you in the backend and also exchanges information with other units that need it.
For example, when a shipping order is initiated for the last item in stock, the stock management modules must record this information and notify the affected departments to replenish inventory. The sales team will also be informed not to make promises that they cannot keep.
Need for an ERP system?
Let's look at some of the reasons companies of different sizes can benefit from ERP implementation.
Information sharing: The enterprise resource planning or ERP system can automatically share crucial information between the various departments of your company and, consequently, promotes collaboration through integrated information sharing.
Improved business performance: The integrated system will ensure that departments spend time managing their core businesses rather than getting the information that could help them do it. For example, an ERP system can improve your company's performance in sales forecasting through order tracking, revenue tracking, and purchase order generation.
Easy to manage: With the rapid growth of technology, enterprise resource planning or ERP systems have become easier to manage and use. This is especially true for companies that may not have the skills or resources to integrate their systems. In addition, for large companies, ERP (enterprise resource planning) can reduce the resources needed to run separate systems.
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Top 5 Benefits of Enterprise Resource Planning (ERP) Systems
What is an ERP system?
Enterprise resource planning (ERP) systems are a type of software that integrates core processes within a company. Traditionally, these were systems that were used primarily by large, multinational companies, as they were expensive to run and had to have a dedicated IT team handling their deployment and maintenance.
Which Companies Adopt ERP?
Businesses select ERP software for many reasons. One reason is how readily available ERP systems have become across multiple industries, even in niche markets.
For example, some ERP solutions cater to the specific needs of retail stores, while others serve the needs of healthcare facilities, and still others meet the specificities of oil and gas producers, and so on.
Nearly every organization today can find a solution to meet their business needs.
1. ERP Benefit 1: Managing Your Business with 1 System
One of the major benefits of ERP solutions in a modern business is that you can manage many core business areas with just one system.
Let’s take the example of a manufacturing ERP system. The typical structure of a manufacturing ERP solution consists of these main functional categories:
Financials
Human resources
Manufacturing management
Inventory management
Purchasing management
Quality management
Sales management
That’s quite a list! If your organization isn’t using an enterprise-wide solution like an ERP system, it’s probably using a different application to fulfill each of these functions. And when businesses manage several functions separately, many issues can arise. These include:
Data errors
Duplication of functions or records
Lack of visibility into the business as a whole
Lack of communication between different areas of the business
An ERP solution integrates all of these disparate business functions into a single system and allows them to communicate with each other. As an example, when your sales team confirms an order, your ERP system will automatically generate a transaction for the finance department, produce a work order for the production floor, update your inventory, and notify the purchasing department to replenish the appropriate stock.
If your company has one system of record to manage its information and processes, then all your functional areas can base their decisions and actions on the same set of data. This means all departments run the business using the same information – there is one version of the truth.
2. ERP Benefit 2 – Newer ERP Systems Are Upgrade-Friendly
Technology changes quickly, meaning legacy enterprise systems can no longer support company growth. Many may even impede a company from growing its business. Moreover, the cost of updating the programming of an old system often mounts up quickly. At some point, companies find it doesn’t make sense to keep an old system in place. Instead, it’s practical and financially sound to migrate to a modern, integrated solution.
Technologies such as machine learning, data analytics, and the Internet of Things (IoT), and other up-to-date capabilities are enabled within modern software systems. These state-of-the-art technologies are capable of deciphering trends and patterns and enabling functionalities that allow companies to make better decisions and hence gain a competitive edge.
3. ERP Benefit 3: ERP Systems Streamline Business Processes
When selecting and implementing an ERP system, companies are forced to consider – or reconsider – their business processes and workflows. It’s a perfect opportunity to assess what makes sense, what works, what’s important, and what can be improved. By running the ERP system, your organization can gain speed, efficiency, and accuracy in its business operations.
One of the benefits of using the ERP system is that, through automation and integration, the system increases your organization’s productivity while reducing time and labor costs. Other advantages include that an ERP system helps you meet the demands of your business partners and external stakeholders, and that it can keep your employees happy and productive.
4. ERP Benefit 4: ERP Systems Help You Better Analyze Your Business’ Data
Enterprise resource planning benefits include transforming the way you gather and analyze data from across your business, helping your data teams identify accurate insights into your entire operation quickly. They do this in two general ways:
Access data from one repository through many devices: these solutions allow stakeholders to access cross-business data from one source but via many devices (including phones and tablets) and regardless of location. This allows for more efficient and accurate data analysis than if the data were housed in multiple systems. Data specialists can more easily run analyses and efficiently identify business trends and potential issues.
Real-time data: ERP offers real-time data on business processes, resource, and work status. This means that users can rest assured that the information they see is up to date and relevant, which is often not the case with legacy systems.
Why This ERP Function Matters
Many companies have mounds of data related to their business. Pulling insights from your business data can be challenging and time-consuming. The data can be out of date and hence unreliable, and you’re often trying to make sense of hundreds of siloed data sets from various areas of your business.
5. ERP Benefit 5: Meeting Customer Expectations
Your customers have high expectations, whether they are individual consumers or other organizations. Many consumers now expect to have a seamless multichannel experience – for example, they may want to browse a product catalog in-store, place an order online, receive the item at the closest retail outlet, and have it picked up for repairs from home.
Your customers also expect to receive consistent service, regardless of which department of your company they interact with. Businesses need to make sure their various departments communicate with each other seamlessly, so that, at any given time, every department has the relevant customer information at their fingertips and can interact efficiently with a customer through any channel.
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Importance of the Best ERP Softwares for Business Performance
ERP or Enterprise Resource Planning is the process of running a business and improving its core functional areas like manufacturing, finance, services, HR, supply chain, procurement, and so on. ERP organizes all business data through the Best ERP Softwares and integrates them into one system. In simple words, ERP is a useful tool implemented by businesses to keep track of human resources, business activities and ensure the progress of several business processes.
Why is ERP integral to Business Growth?
Better Workflow Visibility - An industry may have several departments and each department needs to function efficiently which is possible with the use of sophisticated technology. Their best Enterprise Resource Planning System and software are designed according to the size and demand of businesses. For example, there are on-premise ERP, cloud-based ERP, hybrid ERP, open source ERP, and much more.
With the advancement of technology, the working system of industries has taken a drastic change. Bygone are the days when all business functions were carried out manually. There were a lot of paper works, site visits, and so on. However, with industries growing in size and multinational corporations working around different time zones, the introduction of ERP software revolutionized the working system. There is now more clarity and better workflow visibility.
Scheduling Work - ERP offers great scheduling tools that help to keep track of when employees are reporting to work, whether inventory is delivered on time and when your factory undergoes repairing works. Clarity and first-hand knowledge of all these important issues enable suppliers and departments to coordinate and work in sync.
Business Intelligence Tools - A business functions diligently based upon accurate data. The best resource planning software offers business intelligence tools that maintain a database where all data collection, reporting, and analytics methods are recorded. Apart from this, there is access to historical data that assists in business forecasting.
Data Security - These days, most of the business tasks and records are maintained online which is quite risky. It is, therefore, important to safeguard your company’s practices from fraudulence and it is best taken care of with real-time risk management tools. With the implementation of ERP software, it is feasible to maintain significant communication and documentation with ease.
Customized Solutions - Answer a few questions. Does your business work with international companies? Does your business have marketing needs across the various social media channels? Are there requirements for the submission of official documents to the government? If the answer to these questions is a yes, you can get customized ERP solutions as per the needs and demands.
Other benefits- Having an integrated ERP solution at your business service, you are ensured of improved business reporting, enhanced customer service, boosted cash flow, better inventory costs, adequate cost savings, modernized business system, uncompromised supply chain management, and much more.
To manage a large-scale organization diligently and with proficiency, the right set of ERP business software and technology can take care of the nuances of running a business smoothly. ERP tools are not just handy but they ensure improved performance with boosted profit and enhanced services.
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SAP Finance Module
SAP Finance: The Backbone of Financial Management
SAP’s Finance (FI) module is a powerful component of the SAP ERP (Enterprise Resource Planning) suite, offering a comprehensive set of tools to streamline and automate financial processes within organizations. Whether you’re a business owner, a finance professional, or simply interested in enterprise software, this blog explores the key aspects of SAP Finance and why it’s so essential for modern businesses.
What is SAP Finance (FI)?
The SAP FI module is purpose-built to manage an organization’s financial data, providing real-time insights into financial health and performance. It’s designed to handle critical financial tasks ranging from day-to-day accounting to strategic reporting and analysis.
Key Sub-Modules Within SAP FI
SAP Finance houses several sub-modules specializing in different financial areas:
General Ledger (G/L) Accounting is the core of financial accounting, tracking and providing a complete picture of all financial transactions.
Accounts Receivable (AR): Manages customer invoice payments and ensures timely collections.
Accounts Payable (AP): Manages vendor invoices payments and optimizes outgoing cash flow.
Asset Accounting: Handles the entire lifecycle of fixed assets — acquisition, depreciation, and retirement.
Bank Accounting: Integrates with bank systems, reconciles bank statements, and manages cash balances.
Other sub-modules like Funds Management, Travel Management, and Legal Consolidation offer specialized functionalities.
Benefits of Using the SAP Finance Module
Improved Financial Control and Compliance: SAP FI helps enforce accounting standards and regulations like GAAP or IFRS, ensuring data accuracy and preventing discrepancies.
Real-Time Financial Insights: With up-to-date financial information always at hand, you can make better, more informed strategic decisions.
Streamlined Processes and Automation: SAP FI automates repetitive tasks, reducing manual errors and increasing efficiency in your finance department.
Enhanced Reporting and Analysis: Generate insightful financial reports, balance sheets, profit and loss statements, and more. This empowers data-driven analysis of your organization’s performance.
Integration with Other SAP Modules: Seamless integration with Sales and Distribution (SD), Materials Management (MM), Production Planning (PP), and other modules enables a holistic view of the entire business.
Who Should Consider Using SAP Finance?
SAP Finance suits companies of all sizes, but it has particular advantages in the following cases:
Mid-to-large enterprises with complex financial processes and high-volume transactions.
Multinational Companies managing diverse currencies, regulatory requirements, and accounting standards across different locations.
Organizations in Need of Real-Time Visibility into operations and financial performance.
Businesses Seek to Streamline financial operations and reduce reliance on manual processes.
Getting Started with SAP Finance
Implementing SAP Finance involves a structured and well-planned approach. Consider the following:
Business Needs Assessment: Evaluate the pain points of current financial processes and identify areas where SAP Finance can provide value.
Implementation Partner: Choose an experienced SAP consulting partner to guide and support you through implementation.
Customization and Configuration: Adapt the SAP FI system to meet your business requirements.
Training: Provide comprehensive training for your finance team and other relevant employees.
The Future of SAP Finance
SAP continuously invests in innovation, bringing new capabilities to SAP Finance. Cloud-based solutions like SAP S/4HANA Finance offer scalability and access to the latest functionalities. With machine learning and AI advancements, SAP Finance is poised to become even more intelligent, further simplifying and automating financial tasks.
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The Best ERP Software Service in UK
It is learnt that the best Enterprise Resource Planning (ERP) software strongly aims to simplify planning the sales cycles of your products and other inventory. This is more especially where thousands of products may be involved, each developing multiple data points.
Moreover the software itself can be provided as a SaaS platform, making it accessible from mobile devices such as smartphones, meaning you can keep on top of inventories, orders, and suppliers on the go. In addition, the best ERP software will permit for integration with different marketplaces, so that you can ensure stock is accurately accounted for across your own business website as well as partners, affiliates, and third parties.
It is also enumerated that Enterprise resource planning (ERP) is business management software that is designed to integrate data sources and processes of an entire organization into a combined system. People regularly search Top 10 ERP software in UK, ERP Software Development Company in UK and ERP Software Development Company based in London.
More importantly the Enterprise resource planning (ERP) software isn’t just for multinational corporations anymore. Any firm that adeptly finds them integrating several software products to manage financial, HR, sales, marketing, manufacturing, or supply chain operations should consider the benefits of consolidating their tools into a single ERP system.
ERP software varies widely between systems, industry focuses, and offered important features; most systems will provide key modules like
Human resources
CRM
Finance/Accounting
IT Helpdesk
eCommerce
Supply Chain Management
Order Processing
Inventory and Procurement
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Historically, ERP (enterprise resource planning) software was used by large corporations and multinational organizations for managing their entire operation from a single platform.
But now these solutions are more accessible than ever before. In addition to enterprises, lots of SMBs have started to leverage these tools over the past several years.
ERP software essentially combines all of your business tools into a centralized console. It encompasses components like accounting, HR, CRM, supply chain management, and more.
By consolidating your business tools into a single ERP solution, it’s much easier to manage. Plus, ERP software gives you tons of extra value from a big-picture point of view, that you normally wouldn’t see from standalone software.
So which ERP software is the best? Find out below.
The Top 5 Options For ERP Software
Infor
AccountMate
Epicor
IFS
Deltek
How to Choose the Best ERP Software For You
In order to find the right ERP software for your business, you need to understand what to look for as you’re shopping around. All ERP systems are not created equally, and there’s not really a “one-size-fits-all” solution.
Rather than blindingly picking a tool, use these feature sets and considerations to narrow down potential options.
Business Processes and Modules
As previously mentioned, ERP software encompasses various types of business processes. These typically come in the form of modules as you’re customizing an ERP solution.
Some of you might only need a handful of these processes, while other businesses could be looking for a dozen. It really depends on your business size, existing tools, and future goals for resource planning.
Examples of modules and processes to keep an eye out for include HRMs, financial management tools, CRM, SCM, inventory management, purchasing and supplier management, sales and marketing tools, and more.
There are even industry-specific processes for things like manufacturing or engineering. These will include crucial functionalities for product planning, production scheduling, bill of materials, shop floor planning, etc.
Make sure the ERP software you’re evaluating has the capacity to handle your needs with modules for these types of functions.
Reporting, Analytics, and Dashboards
The best ERP software on the market today has advanced reporting capabilities. These go above and beyond basic spreadsheets and PDF downloads. Look for a solution that includes real-time data and smart filters.
Some tools might even have agile reporting and ad hoc reporting, so you can quickly adapt to ever-changing needs without interruptions.
You should be able to manage these complex reports and analytics through a simple dashboard. If you can’t figure out the dashboards, you’ll never get the most out of these reports (which renders them useless).
Dashboards should also display KPIs and let you analyze different data with just a few clicks. For example, you might want to compare qualitative vs. quantitative data based on departments or users within your organization.
Integrations
Your ERP software must seamlessly integrate with your existing tools and software.
From simple file transfers to complete integrations, it’s crucial that these all work together. For example, you should be able to sync your existing CRM with your new ERP software. Or you might want to link an ERP payroll module to an HRMS software that you’re already using.
ERPs that provide flexible integrations can expand the functionality of your existing tools or completely replace them after a smooth file migration.
Custom Capabilities
Customization is crucial when it comes to evaluating ERP software. Otherwise, you won’t get the most of the potential benefits; here’s why.
Each department will have different business workflows. These could potentially have contradictory priorities and goals. For example, marketing teams will focus on spending while accounting teams will be focusing on saving money. Sales teams will be prioritizing a monthly quota, and production departments prioritize daily output. It’s impossible to configure these various workflows into an all-in-one solution.
So your ERP software should have configurable workflows and custom dashboards for each department. This will allow those decision-makers to define specific KPIs and goals based on custom parameters.
Setup and Deployment
It’s no secret that ERP software can be complex. Unlike other business tools, it’s not really a “sign up today and deploy in seconds” type of tool. This is largely due to the custom nature and different modules required to run smoothly.
But with that said, some ERP software providers are definitely easier to set up and deploy than others. If you don’t want to install anything locally, look for a cloud-based ERP solution. You’ll still need a custom solution, but this will be easier overall.
Between cloud-based SaaS solutions and on-premises deployment, you’ll have different options to consider.
Training and Support
Again, ERP software isn’t always easy. You need to find a provider that offers you the resources required to hit the ground running.
In most cases, they will need a proper installation by someone with technical expertise. So if your business doesn’t have a dedicated IT team, make sure you review your SLA.
In many cases, the installation could be charged entirely separately from the ERP license or subscription. Cloud-based ERPs are definitely easier to set up (as mentioned earlier), but it might still require some training.
What happens when you have a question or need some assistance? Will your software vendor be there to help you out?
These are the types of questions you need to ask yourself as you’re evaluating different options.
The Different Types of ERP Software
Before we get into the ERP software reviews, I want to quickly explain the different types of ERP software available on the market today. This will add some clarity as you’re shopping around.
General Purpose ERP Software
Generalist ERPs are flexible enough to fit the needs of various industries. They have robust customization capabilities, easy integrations, and processes that match a wide range of requirements.
The vast majority of ERP software is branded as a general-purpose ERP. This gives software vendors the ability to target as many different organizations and industries as possible.
Vertical-Specific ERP Software
As the name implies, vertical-specific ERPs are targeted for specific industries. Unlike a generalist solution, this type of software is not geared towards the masses.
These types of ERP solutions are popular in niches like manufacturing, construction, or retail. A vertical-specific ERP won’t be nearly as flexible as a general-purpose tool, but they do a great job hitting the specialized industry.
Open-Source ERP Software
Open-source ERP software only makes up a small portion of the overall ERP market. However, it’s important to know that they exist.
An open-source ERP is ideal for tech teams that want the ability to develop and integrate custom apps to an ERP solution. Since ERPs can handle such highly customized functionality and processes, this type of software is the preferred choice for developers.
Small Business ERP Software
As previously stated, there was a time when only large organizations would be using ERP software. But cloud deployment has made ERP software significantly more accessible to small businesses.
Since some ERPs are delivered with custom modules (as opposed to a fully integrated solution), small businesses can choose just two or three modules and omit the others. For example, you could get an ERP software with just functionality for accounting and HRM. Then down the road, you can add-on a module for CRM or inventory.
Small business ERPs are also known as “lightweight ERPs” because of this flexibility.
#1 – Infor Review — The Most Versatile ERP Software
Infor is a cloud-based ERP software with solutions for SMBs and enterprises alike. They have several different ERP products for you to choose from based on your industry and business needs.
With 30+ years of experience in this space, Infor’s robust and flexible technology earns them a high ranking on my list.
The ERP solutions offered by Infor are a popular choice for wholesale distribution companies, manufacturing organizations, and various service industries. Some of the notable highlights of the software include:
Ability to personalize home pages and dashboards
Intuitive role-based user interfaces
Unlimited financial calendars, ledgers, basis reporting, and dimension strings
Embedded analytics directly within different user’ workflows
Production planning and scheduling management
Optimized purchasing with advanced order controls
Ability to ensure maximum margins with integrated pricing modules
While Infor is definitely known for its cloud solutions, they do offer single-instance and on-premises deployment options for some of their software.
Infor also has a wide range of specific software for things like HCM, CRM, PLM, SCM, and more. So if you just have one single need, you can explore those choices as well.
#2 – AccountMate Review — The Best Vertical Specific Solutions
AccountMate is branded as the “world’s most customizable accounting system.” It’s designed to help growing businesses gain a competitive edge with unique ERP software based on specific verticals.
The software is trusted by 125,000+ companies worldwide. In addition to the software, AccountMate provides additional services to help you get the most out of your ERP tools.
AccountMate’s vertical solution catalog is extensive, to say the least. They have 30+ vertical-specific category options available. Their development partners help businesses get industry-specific functionality in addition to the base financial software.
Some of those top categories include:
Billing
Budgeting and forecasting
Business analytics
Business intelligence
CRM applications
Document management
Ecommerce
Food processing
Human resources
Invoice automation
Job costing
Payroll
Route management
Sales analysis
Warehouse management
The list goes on and on. As you can see, these vertical-specific offerings are extremely versatile. AccountMate can ultimately provide you with a comprehensive front office and back-office solution.
Businesses within industries like manufacturing, wholesale distribution, utilities, government, solution providers, ecommerce, and business services all rely on AccountMate for ERP.
For those of you looking for a vertical-specific solution with a core focus on accounting and finance, look no further than AccountMate.
#3 – Epicor Review — Best ERP Software For Manufacturing
Epicor is another industry leader in the ERP software space. They provide cloud and on-premises solutions for businesses in spaces like manufacturing, retail, automotive, lumber and building, and distribution.
With that said, the manufacturing ERP software offered by Epicor is the clear standout.
It’s trusted by a wide range of manufacturers producing products like industrial machinery, lumber and wood, rubber and plastics, high tech electronics, aerospace and defense products, fabricated metals, medical devices, furniture, and more.
Here are some of the top benefits you’ll get with Epicor’s ERP software:
Ability to track, measure, and monitor entire operation from raw materials to final product
Improve efficiencies with real-time visibility into plant and business operations
Streamline your processes to reduce costs and increase profits
Adapt to new strategies, changing customer needs, and new manufacturing methods
Implement lean manufacturing methodologies to eliminate waste
Make smarter decisions and prioritize customer satisfaction
Overall, the software is designed for mid-sized and large businesses in the manufacturing and distribution space. If you fall into these categories, I strongly recommend Epicor for ERP.
#4 – IFS Review — The Best Agile ERP Software
IFS is a bit unique compared to other ERP solutions on the market today. The software isn’t as complicated and rigid as other tools that you’ll come across.
Instead, IFS gives you the ability to adapt in real-time as market landscapes change, and new technology becomes available. This approach helps maximize the agility of your organization.
IFS has pre-configured ERP solutions for areas like supply chain management, human capital management, project management, financials, service industries, and manufacturing.
Within those categories, some of the noteworthy highlights of the ERP software include:
Risk and opportunity management
Digital asset lifecycle journey
Contract management, variation order management, and payment applications
Real-time planning and scheduling optimization
Sales forecasting and demand planning
Multisite and multi-entity supply network visibility and planning
CRM and SRM
Financial accounting, management accounting, project accounting, and strategic accounting
Again, all of these tools and functionality are designed to keep your organization agile as the market changes. You’ll be able to gain a competitive edge and make strategic decisions in real-time using IFS for enterprise resource planning.
#5 – Deltek Review — The Best ERP Software For Small Business
As previously mentioned, ERP software is no longer reserved for global enterprises. There are plenty of great options out there for small businesses that want to leverage these solutions.
Deltek is one of those options for smaller companies, and it’s my top recommendation in this category.
Overall, Deltek is a great option for project-based businesses seeking an ERP solution. They have a wide range of products and modules in categories like:
Information management and collaboration
Business development
Project and portfolio management
Human capital management
They even offer niche-specific solutions like costpoint for government contractors or project lifecycle management for small architecture and engineering firms. These examples showcase the versatility of Deltek.
The cloud-based deployment makes it easy for smaller businesses to implement as well.
Summary
There are dozens of vendors out there offering ERP software. But after extensive research and testing, I can only recommend the five options reviewed above.
Which one is the best? It depends on your situation.
Make sure you follow the methodology I described earlier in this guide to narrow down your options as you’re shopping around. This will make your life much easier and ensure you make the right decision for your business.
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Best ERP Software
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Historically, ERP (enterprise resource planning) software was used by large corporations and multinational organizations for managing their entire operation from a single platform.
But now these solutions are more accessible than ever before. In addition to enterprises, lots of SMBs have started to leverage these tools over the past several years.
ERP software essentially combines all of your business tools into a centralized console. It encompasses components like accounting, HR, CRM, supply chain management, and more.
By consolidating your business tools into a single ERP solution, it’s much easier to manage. Plus, ERP software gives you tons of extra value from a big-picture point of view, that you normally wouldn’t see from standalone software.
So which ERP software is the best? Find out below.
The Top 5 Options For ERP Software
Infor
AccountMate
Epicor
IFS
Deltek
How to Choose the Best ERP Software For You
In order to find the right ERP software for your business, you need to understand what to look for as you’re shopping around. All ERP systems are not created equally, and there’s not really a “one-size-fits-all” solution.
Rather than blindingly picking a tool, use these feature sets and considerations to narrow down potential options.
Business Processes and Modules
As previously mentioned, ERP software encompasses various types of business processes. These typically come in the form of modules as you’re customizing an ERP solution.
Some of you might only need a handful of these processes, while other businesses could be looking for a dozen. It really depends on your business size, existing tools, and future goals for resource planning.
Examples of modules and processes to keep an eye out for include HRMs, financial management tools, CRM, SCM, inventory management, purchasing and supplier management, sales and marketing tools, and more.
There are even industry-specific processes for things like manufacturing or engineering. These will include crucial functionalities for product planning, production scheduling, bill of materials, shop floor planning, etc.
Make sure the ERP software you’re evaluating has the capacity to handle your needs with modules for these types of functions.
Reporting, Analytics, and Dashboards
The best ERP software on the market today has advanced reporting capabilities. These go above and beyond basic spreadsheets and PDF downloads. Look for a solution that includes real-time data and smart filters.
Some tools might even have agile reporting and ad hoc reporting, so you can quickly adapt to ever-changing needs without interruptions.
You should be able to manage these complex reports and analytics through a simple dashboard. If you can’t figure out the dashboards, you’ll never get the most out of these reports (which renders them useless).
Dashboards should also display KPIs and let you analyze different data with just a few clicks. For example, you might want to compare qualitative vs. quantitative data based on departments or users within your organization.
Integrations
Your ERP software must seamlessly integrate with your existing tools and software.
From simple file transfers to complete integrations, it’s crucial that these all work together. For example, you should be able to sync your existing CRM with your new ERP software. Or you might want to link an ERP payroll module to an HRMS software that you’re already using.
ERPs that provide flexible integrations can expand the functionality of your existing tools or completely replace them after a smooth file migration.
Custom Capabilities
Customization is crucial when it comes to evaluating ERP software. Otherwise, you won’t get the most of the potential benefits; here’s why.
Each department will have different business workflows. These could potentially have contradictory priorities and goals. For example, marketing teams will focus on spending while accounting teams will be focusing on saving money. Sales teams will be prioritizing a monthly quota, and production departments prioritize daily output. It’s impossible to configure these various workflows into an all-in-one solution.
So your ERP software should have configurable workflows and custom dashboards for each department. This will allow those decision-makers to define specific KPIs and goals based on custom parameters.
Setup and Deployment
It’s no secret that ERP software can be complex. Unlike other business tools, it’s not really a “sign up today and deploy in seconds” type of tool. This is largely due to the custom nature and different modules required to run smoothly.
But with that said, some ERP software providers are definitely easier to set up and deploy than others. If you don’t want to install anything locally, look for a cloud-based ERP solution. You’ll still need a custom solution, but this will be easier overall.
Between cloud-based SaaS solutions and on-premises deployment, you’ll have different options to consider.
Training and Support
Again, ERP software isn’t always easy. You need to find a provider that offers you the resources required to hit the ground running.
In most cases, they will need a proper installation by someone with technical expertise. So if your business doesn’t have a dedicated IT team, make sure you review your SLA.
In many cases, the installation could be charged entirely separately from the ERP license or subscription. Cloud-based ERPs are definitely easier to set up (as mentioned earlier), but it might still require some training.
What happens when you have a question or need some assistance? Will your software vendor be there to help you out?
These are the types of questions you need to ask yourself as you’re evaluating different options.
The Different Types of ERP Software
Before we get into the ERP software reviews, I want to quickly explain the different types of ERP software available on the market today. This will add some clarity as you’re shopping around.
General Purpose ERP Software
Generalist ERPs are flexible enough to fit the needs of various industries. They have robust customization capabilities, easy integrations, and processes that match a wide range of requirements.
The vast majority of ERP software is branded as a general-purpose ERP. This gives software vendors the ability to target as many different organizations and industries as possible.
Vertical-Specific ERP Software
As the name implies, vertical-specific ERPs are targeted for specific industries. Unlike a generalist solution, this type of software is not geared towards the masses.
These types of ERP solutions are popular in niches like manufacturing, construction, or retail. A vertical-specific ERP won’t be nearly as flexible as a general-purpose tool, but they do a great job hitting the specialized industry.
Open-Source ERP Software
Open-source ERP software only makes up a small portion of the overall ERP market. However, it’s important to know that they exist.
An open-source ERP is ideal for tech teams that want the ability to develop and integrate custom apps to an ERP solution. Since ERPs can handle such highly customized functionality and processes, this type of software is the preferred choice for developers.
Small Business ERP Software
As previously stated, there was a time when only large organizations would be using ERP software. But cloud deployment has made ERP software significantly more accessible to small businesses.
Since some ERPs are delivered with custom modules (as opposed to a fully integrated solution), small businesses can choose just two or three modules and omit the others. For example, you could get an ERP software with just functionality for accounting and HRM. Then down the road, you can add-on a module for CRM or inventory.
Small business ERPs are also known as “lightweight ERPs” because of this flexibility.
#1 – Infor Review — The Most Versatile ERP Software
Infor is a cloud-based ERP software with solutions for SMBs and enterprises alike. They have several different ERP products for you to choose from based on your industry and business needs.
With 30+ years of experience in this space, Infor’s robust and flexible technology earns them a high ranking on my list.
The ERP solutions offered by Infor are a popular choice for wholesale distribution companies, manufacturing organizations, and various service industries. Some of the notable highlights of the software include:
Ability to personalize home pages and dashboards
Intuitive role-based user interfaces
Unlimited financial calendars, ledgers, basis reporting, and dimension strings
Embedded analytics directly within different user’ workflows
Production planning and scheduling management
Optimized purchasing with advanced order controls
Ability to ensure maximum margins with integrated pricing modules
While Infor is definitely known for its cloud solutions, they do offer single-instance and on-premises deployment options for some of their software.
Infor also has a wide range of specific software for things like HCM, CRM, PLM, SCM, and more. So if you just have one single need, you can explore those choices as well.
#2 – AccountMate Review — The Best Vertical Specific Solutions
AccountMate is branded as the “world’s most customizable accounting system.” It’s designed to help growing businesses gain a competitive edge with unique ERP software based on specific verticals.
The software is trusted by 125,000+ companies worldwide. In addition to the software, AccountMate provides additional services to help you get the most out of your ERP tools.
AccountMate’s vertical solution catalog is extensive, to say the least. They have 30+ vertical-specific category options available. Their development partners help businesses get industry-specific functionality in addition to the base financial software.
Some of those top categories include:
Billing
Budgeting and forecasting
Business analytics
Business intelligence
CRM applications
Document management
Ecommerce
Food processing
Human resources
Invoice automation
Job costing
Payroll
Route management
Sales analysis
Warehouse management
The list goes on and on. As you can see, these vertical-specific offerings are extremely versatile. AccountMate can ultimately provide you with a comprehensive front office and back-office solution.
Businesses within industries like manufacturing, wholesale distribution, utilities, government, solution providers, ecommerce, and business services all rely on AccountMate for ERP.
For those of you looking for a vertical-specific solution with a core focus on accounting and finance, look no further than AccountMate.
#3 – Epicor Review — Best ERP Software For Manufacturing
Epicor is another industry leader in the ERP software space. They provide cloud and on-premises solutions for businesses in spaces like manufacturing, retail, automotive, lumber and building, and distribution.
With that said, the manufacturing ERP software offered by Epicor is the clear standout.
It’s trusted by a wide range of manufacturers producing products like industrial machinery, lumber and wood, rubber and plastics, high tech electronics, aerospace and defense products, fabricated metals, medical devices, furniture, and more.
Here are some of the top benefits you’ll get with Epicor’s ERP software:
Ability to track, measure, and monitor entire operation from raw materials to final product
Improve efficiencies with real-time visibility into plant and business operations
Streamline your processes to reduce costs and increase profits
Adapt to new strategies, changing customer needs, and new manufacturing methods
Implement lean manufacturing methodologies to eliminate waste
Make smarter decisions and prioritize customer satisfaction
Overall, the software is designed for mid-sized and large businesses in the manufacturing and distribution space. If you fall into these categories, I strongly recommend Epicor for ERP.
#4 – IFS Review — The Best Agile ERP Software
IFS is a bit unique compared to other ERP solutions on the market today. The software isn’t as complicated and rigid as other tools that you’ll come across.
Instead, IFS gives you the ability to adapt in real-time as market landscapes change, and new technology becomes available. This approach helps maximize the agility of your organization.
IFS has pre-configured ERP solutions for areas like supply chain management, human capital management, project management, financials, service industries, and manufacturing.
Within those categories, some of the noteworthy highlights of the ERP software include:
Risk and opportunity management
Digital asset lifecycle journey
Contract management, variation order management, and payment applications
Real-time planning and scheduling optimization
Sales forecasting and demand planning
Multisite and multi-entity supply network visibility and planning
CRM and SRM
Financial accounting, management accounting, project accounting, and strategic accounting
Again, all of these tools and functionality are designed to keep your organization agile as the market changes. You’ll be able to gain a competitive edge and make strategic decisions in real-time using IFS for enterprise resource planning.
#5 – Deltek Review — The Best ERP Software For Small Business
As previously mentioned, ERP software is no longer reserved for global enterprises. There are plenty of great options out there for small businesses that want to leverage these solutions.
Deltek is one of those options for smaller companies, and it’s my top recommendation in this category.
Overall, Deltek is a great option for project-based businesses seeking an ERP solution. They have a wide range of products and modules in categories like:
Information management and collaboration
Business development
Project and portfolio management
Human capital management
They even offer niche-specific solutions like costpoint for government contractors or project lifecycle management for small architecture and engineering firms. These examples showcase the versatility of Deltek.
The cloud-based deployment makes it easy for smaller businesses to implement as well.
Summary
There are dozens of vendors out there offering ERP software. But after extensive research and testing, I can only recommend the five options reviewed above.
Which one is the best? It depends on your situation.
Make sure you follow the methodology I described earlier in this guide to narrow down your options as you’re shopping around. This will make your life much easier and ensure you make the right decision for your business.
The post Best ERP Software appeared first on Neil Patel.
Original content source: https://neilpatel.com/blog/best-erp-software/ via https://neilpatel.com
The original post, Best ERP Software, has been shared from https://imtrainingparadise.wordpress.com/2020/09/25/best-erp-software/ via https://imtrainingparadise.wordpress.com
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ERP Comparison - Why Choose Microsoft Dynamics 365 Over SAP
At a Glance
ERP systems play a vital role in running the operations of an enterprise. They have a long-term impact on people and processes within a company.
Evaluation of ERP systems is overwhelming and requires thorough vetting of various factors that are important to your company.
This article evaluates at length, the key differentiating factors between Microsoft Dynamics 365 for Finance and Operations and SAP.
Microsoft Dynamics 365 offers the lowest Total Cost of Ownership (TCO) among all tier 1 ERP vendors. Its payback period is 18 months lower than that of SAP.
Microsoft Dynamics 365 offers the highest ROI of approximately $17 per one dollar spent within the first three years. This return is exponentially higher considering the ROI for competing ERP and CRM products is $7.23 and $8.71, respectively.
Microsoft Dynamics is best suited for progressive mid-market companies aiming to make it big to support growth to an exponential degree.
You have a lot to gain or lose from an ERP system. You have established a core team to evaluate ERP systems and spent the last few months evaluating a number of Tier 1 and Tier 2 ERP Vendors. Your team sat through hours of very boring and a few exciting demonstrations of the system and how they fit your organization.Evaluating an ERP is overwhelming. Our series of articles focused on ERP comparison will help you make informed decisions. We examine various business applications and how they compare to Microsoft Dynamics 365. Our hands-on experience in ERP systems like SAP, Oracle, Microsoft Dynamics, Infor etc. allows us to provide an objective comparison in the strengths, weaknesses and relevance of these applications.This article provides everything you need to know while evaluating SAP and Microsoft Dynamics.
What matters?
An ERP system is at the heart of every company. It helps unify people, processes and technology across the organization so that business units function efficiently and work in unison towards a common objective.When evaluating an ERP, here are a few key parameters that matter most -
Business process mapping and requirement analysis
Budget
ERP Vendor Comparison
Total cost of ownership
Return on Investment (ROI)
Out-of-the-box Features & Functions
Duration of Implementation
Types of Deployment
Operational Disruption
Competency of the partner, partner network and resources
Evaluation of not just the application but the Ecosystem
Technical evaluation including role of ERP in the company’s overall digital strategy
Requirements vary across organizations and so does budget – these are discussions that need deeper consultations and analysis. What stands out as a benchmark is the comparison of functionality, strengths, ease of use, pricing, and value proposition offered by vendors.Do it once, do it right.
Microsoft has perfected it!
Microsoft has put in visible efforts towards tethering customers into a Microsoft-centric world that is themed around user-friendliness. The company’s continued investment in cloud, user experience, analytics and integration is aimed to increase productivity while reducing overall costs.Windows from Microsoft is the most popular operating system owing to its ease of use; and per NetMarketShare, the OS is used in over 87% of desktop/laptop globally. Continuing its recipe for success, Microsoft has ensured that the Dynamics platform resonates similar minimalistic yet powerful productivity & design elements of Windows. Multiple acquisitions including Navision, Axapta and Great Plains have helped Microsoft build its flagship ERP product today - Microsoft Dynamics 365 for Finance & Operations.Microsoft Dynamics 365 for Finance & Operations has been built consistent with the intent of creating a simple, powerful and a common ecosystem. An ecosystem that is easy to use, secure and scalable.Microsoft Dynamics 365 arguably enjoys a dominant position across small and medium enterprises. The scalability of the application has allowed successful deployments at large retail and manufacturing companies with thousands of users. Microsoft Dynamics has established itself as a viable alternative by voiding the complexities of larger applications such as SAP and Oracle.
Below are just a few well-known large enterprises that use Microsoft Dynamics 365:
Microsoft Dynamics 365 vs SAP - The Comparison
Factors such as implementation time, time to achieve stable state, disruption to business functions are amongst the top qualitative parameters.
Per Panorama Consulting, Microsoft Dynamics 365 users reported an average 12 months implementation time compared to its peer SAP with close to 15 months’ time.
Average timeline of 12 months is relevant to medium and high complexity implementations.
For smaller companies and low complexity implementations, the time to implement is less than 12 months. Get more information from XcelPros on rapid / accelerated implementations for Microsoft Dynamics.
Compared to SAP, Microsoft Dynamics 365 users took maximum of two months to achieve stable state as against six months in case of the former.
The above finding was also echoed by Forrester Research which reported that SAP users experience more material operational disruption during their implementations than the other Tier 1 providers and that Microsoft Dynamics 365 had the fewest (2017).
Microsoft made it simple, making it an ideal software for mid-market companies.
As evident from the above comparison, Microsoft Dynamics 365 scores over SAP in most categories including critical parameters such as time for installation, ease of customization, user experience, TCO, and customer support.
A business user needs simplicity. Unlike SAP, which has approx. 70,000 screens for a user to navigate and discover what is useful for his business, Microsoft provides ease of use resonating the very familiar daily used products such as Outlook, Word and Excel.
Dynamics 365 allows users to customize the aesthetics of the system for a personalized experience. This includes customization of themes, color, user dashboard both on desktop and hand-held devices including mobile.
With embedded business intelligence, the platform assimilates and analyzes customer data to understand patterns and suggest appropriate actions so that sales and marketing organizations are better equipped. Features such as relationship assistant, cortana intelligence, auto capture, and email engagement help gather better sales intelligence and actions thereafter.
With Microsoft’s vast ecosystem, Dynamics 365 users can access every module within the system, without the need for investing in other applications. Upgrades and security patches are seamlessly delivered automatically through cloud without causing any disruption to the business functions.
A user story highlighting the power of Microsoft Dynamics 365
Background: A multinational Jeweler needed to modernize its IT services to make use of data collected over time and move from predictive analytics to peerless point-of-sale customer experience.Problem statement: The global Jewelry house wanted to empower its sales and marketing team with an unified and all-inclusive customer database to create a personalized experience for its customers across all channels (in-store, web, and mobile). They needed to overhaul their IT system to reflect modern age aspects of the business involving back-end IT to POS interactions and facilities management.Solution: The Jeweler entrusted this responsibility on Microsoft Dynamics for Retail, Finance and Operations, and Customer Service. Integrating information across stores and online channels, staffers were equipped with behavior and purchase patterns of their customers. Using a mobile device, sales personnel were able to access the business relationship, personal information such as birthday, anniversaries, special occasions, to develop better personalized relationship. Marketing team was able to enhance the relation with curated messaging, new product launch and discount offers.Result: With data consolidated and centralized within Microsoft’s ecosystem, pulling up customer data that otherwise took four minutes were available in few seconds. Using Power BI, the company was able to create actionable insights visualized over an interactive dashboard. With the assurance and reliability of Microsoft’s ecosystem, the Jeweler was able to streamline business processes that helped in further expansion of business.
Power of One-Microsoft Ecosystem
Microsoft ecosystem includes a comprehensive suite of applications ranging from analytics, visualization, artificial intelligence, IoT, PowerApps, CRM, Office 365, and a host of other third-party applications. The seamless integration and the communication of these applications is the key differentiator between Microsoft and any other applications in the market. A few benefits of the ecosystem -
Improved connectivity without the need for customizations
Improved productivity to enhance efficiencies
Improved visibility of information across business functions
Ability to download and implement additional functionality / apps from appsource.microsoft.com. This gives you the power to scale with industry and function specific apps on Microsoft Appsource.
Ex. Integrated Chemical Management (iCM) - This provides extensive functionality in Label Management and SDS Management for Chemical, Pharmaceutical, Life Sciences and Food Industries. Anyone that works with chemicals - industrial, pharma or food grade will need this app. Every company in these industries needs SDSs and be able to print labels. Without this app, companies need to spend tens of thousands of dollars to customize Microsoft Dynamics 365 workflows, reports and many more elements.
Capabilities to support CRM, ERP, and human capital management modules
Higher accuracy to determine project costs and increased operational efficiency
Seamless integration with SharePoint / best document management system
Advanced analytics and scope of cross-selling/up-selling using Field services
Collaboration and visualization
Application development (with PowerApps)
Higher efficiency when onboarding vendors/customers due to familiarity with other Microsoft products
Higher Return on Investment (ROI) and Lower cost of ownership (TCO)
Cost is one of the key parameters that differentiates Microsoft Dynamics 365 from its competitors. Dynamics 365 is designed to be flexible to adapt to the changing needs of customers. Independent surveys conducted by research and consulting houses unanimously rate Microsoft Dynamics 365 to have the highest return on investment (ROI) and low overall cost of ownership platform.
Microsoft Dynamics is offered on-premise and in the cloud
Licensing has been designed to include all roles and responsibilities within an enterprise.
At a high-level, On-premise and Cloud have 3 tiers of user licenses and a device license.
Cloud is priced at per user per month
Full Access / Enterprise - $190
Functional User - $50
Task User - $8
On-premise is priced at a one-time license fee + 16% Annual Maintenance Fee
Per a study by Nucleus Research, Microsoft Dynamics 365 offered the highest return on investment, recovering approximately $17 per dollar spent. This number is exponentially higher considering the combined ROI for ERP and CRM at $7.23 and $8.71 respectively.
Microsoft Dynamics 365 can scale up/down with your changing business needs
Scalability is a key element of the ERP you choose. Only Microsoft allows use to scale up/down as per your business needs. In the case of on-premise, you have the ability to lock your maintenance to the price paid at the time of signing the contract. Customers like this flexibility to add / alter licenses as their resource & business needs change.
Benchmarked with efficient performance scaling up thousands of users, Microsoft is completely capable of handling your business requirements. It offers extensive functionalities across financials, supply chain management, and customer relationship management.
Ex. You can start with the ERP today and add Microsoft Dynamics CRM later. The scalability aids in adding functionality later as required.
Dynamics 365 offers enterprise-wide reporting, powerful business insights, tools that support decision making – all these at a relatively lower cost while scoring high on flexibility and ease of use.
Key Takeaways
Microsoft Dynamics 365 is an affordable enterprise suite to run all business functions, its user experience has been unanimously rated highest on ease of use. Coming from the makers of Windows (used by over 87% of desktops and laptops), Dynamics 365 is aesthetically familiar, easy to use and adapt.
Microsoft Dynamics 365 offers extensive out-of-the-box functionality for a variety of industries without a need for additional spend on customizations.
Leveraging its proprietary cloud hosting services in form of Azure cloud, Microsoft is able to reduce deployment time by 95% and hosting cost by 75% for Dynamics 365 users.
With the power of the One-Microsoft ecosystem, Microsoft Dynamics 365 is the only business application you will need today and to support your growth for future!
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