Have you ever heard the term “ERP” thrown in business lingo, but are unsure what it means? When doing a search for this term, a lot of information comes up – much of it different and perhaps a little vague.
Organizations often turn to enterprise resource planning (ERP) and business solutions in order to streamline their operations and increase profits. When used to their full potential, adopting an ERP system for your business can reduce time spent on menial tasks, increase the quality of your products and services, improve productivity, and overall provide your customers with a better experience.
A KPI or key performance indicator is a way to identify how successful an organization is. By tracking key indicators, an organization can get a sense of how successful they are at meeting their primary goals. An organization’s primary goals are designed to drive a company towards success, so it’s natural that an organization would want to have some sort of indication that these goals are being met.
There was once a time when old accounting software was the perfect solution for managing a business’s finances. The solutions these older generations of software provided were versatile enough to manage the complexities of accounting 10 years ago, but technology has come a long way. This software was once considered essential for the growth of a firm, but it is now instead of dragging them behind.
When it comes to the food and beverage industry, there are a number of unique challenges that they face that other industries don’t have to deal with. This is mainly due to the fact that their job involves managing perishable products, as well as the difficulty of complying with strict regulations. There’s also the ever-looming threat of contamination and recalls – all of which can be overwhelming for a business to manage on their own.
You can have an innovative product or unique and useful service, and you can have a great team of enthusiastic employees with refined skills, but if you can’t sell your product, it all goes to waste. Knowing how to sell and how to increase sales may seem like obvious must-haves for businesses, but it can often be a weak point that can crumble an entire operation. Mid-sized and small businesses account for the majority of sales in Canada and the US, and there are several ways your teams can improve sales and grab a bigger slice of the marketplace. Have a strong but smart digital presence. Many companies make the mistake of thinking they need a presence on every social media platform and to spam their customers with constant emails and newsletters. Strong means quality not quantity. Use the social applications that suit your target audience or customer base, i.e., Snapchat for a younger demo and Facebook for a more mature one. Hire creative professionals to build solid platforms for you with concise and complete information for current and new customers. Shop around to find reasonably priced rates for a graphic designer for your logo, a copywriter who can […]
A business can’t thrive without effective financial management. It takes expert skills and tools to properly plan, implement, and monitor resources, especially for mid-sized businesses with complex operations and a moderate budget to handle. To make the best use of your resources, track and manage core financials, and to stay competitive in an ever-evolving marketplace, it’s vital to have complete information at your and your team’s fingertips. There is no doubt monitoring financials is complex. Stellar financial management requires powerful management tools in the cloud. IWI Consulting Group is an enterprise resource planning (ERP) and Sage software provider that can help by customizing an AICPA-endorsed solution like Sage Intacct for your business. The system is designed to be flexible and adapt to suit your needs. With these core financials you can increase productivity and efficiency to accurately manage and grow your business. It includes: A flexible and scalable general ledger with full visibility Enhanced purchasing to set the optimal price at the right time Order management for high volumes, complex processes, and tailored pricing details Easy accounts payable and receivable A full picture of cash and capital management Accessible dashboards and reporting to control operations and financial data […]
Enterprise resource planning systems (ERP) offer more than a great way to manage the information from all areas of your business. They also provide you with better cash flow management. Businesses need cash to fuel growth, development, and innovation. Better cash flow management ensures that you have the necessary cash to make sound investments into new projects. It helps your business flourish. Here’s how an enterprise resource planning system can help your business grow. What Is Enterprise Resource Planning? An ERP or enterprise resource planning system is business process management software. It integrates and automates many back-office functions to help you improve productivity. ERP systems such as Sage 300cloud (cloud-based ERP) offer many advantages to your business. Improves Cash Flow Enterprise resource systems help you automate and integrate systems and processes throughout your company. It can automate routine tasks such as billing and invoicing, and integrate with systems such as accounting and finance to run reports on unpaid invoices, past due invoices, cash flow, and much more. ERP systems such as Sage 300cloud (formerly known as Sage 300) can help you with: Late purchase orders: It can be frustrating when orders aren’t shipping out quickly. Customers get annoyed, and delays in shipping […]
Some companies run on gut instinct. Others run on data. If your company falls into the latter camp, welcome to Sage EM (formerly known as Sage X3) Data Management and Analytics, a comprehensive analytics solution for insights-driven organizations. Sage EM (formerly known as Sage X3) Data Management and Analytics offers a comprehensive portfolio of analytics with the ease of an out of the box solution. Deep integration with other Sage software enables Sage EM (formerly known as Sage X3) Data Management and Analytics to manage data and extra insights without cumbersome technical programming. It’s easier to set up than many other data analytics programs, making it a favorite for companies who crave data but have little time for custom programming. Let’s take a look at some of the features Sage EM (formerly known as Sage X3) Data Management and Analytics offers. One analytics solution: The software takes multiple data inputs and generates outputs through dynamic role-based dashboards, Sage BI dashboards and reporting, and other BI tools, as required. It’s one solution to the problem of multiple BI needs. Easy deployment: One pre-packaged solution makes deployment a snap. Various models include cloud, on-premise, and hybrid models. Pre-set data models for Sage EM (formerly […]
ERP systems such as Sage EM (formerly known as Sage X3) have long played an important role in manufacturing operations. The capabilities of this software have helped manufacturers monitor costs, improve communications and teamwork, and enhance customer service. Now, a new study points to the many ways in which ERP systems are making an impact on supply chain management. The Study: Three Surprising Results The Delphi Group asked 23 global manufacturers about the impact of enterprise resource planning (ERP) systems on their supply chain and supply chain management. The answers can be grouped into three main findings that include the following impacts on supply chain management: Integration of information across the entire supply chain between customers and suppliers Increasing “mass customization” of products Supply chains consisting of several independent entities, making the entire supply chain more complex to manage The supply chain has been shifting over the past few years from a few large suppliers to a network of smaller, independent suppliers. This flexible approach has made it easier for small to mid-sized companies to offer lower prices, faster turnaround time, and newer services such as mass customization to their clients so that they can remain competitive in the global […]