Why People Choose Sage ERP for Small Business?
One of the common misconceptions in the world of ERPs is that they are only for medium and large enterprises. This isn’t true. Much like ERPs offer advantages to medium
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What is Order Processing? Definition, Steps & Role in ERP Systems
What is Order Processing? Order processing is a systematic procedure for receiving, managing and fulfilling customer orders accurately and efficiently. The multiple steps of order processing, from order entry to
What is a Data Warehouse? Definition, Architecture, Example
What is Data Warehouse? A data warehouse is a data integration system designed to gather business intelligence by consolidating and analysing large amounts of data from multiple sources. As a
What is Business Analytics? Definition, Benefits, and Types
Business analytics is a statistical approach to solve real business problems and optimise operational performance by analysing and interpreting large datasets. The insights thus generated from this data are shared
What is a Sales Order? Meaning, Process & Importance in ERP
What is a Sales Order? A sales order is a formal document that binds the supplier to fulfil the customer’s order as per agreed terms. In other words, a sales order
What is 3PL (Third Party Logistics) & The Role of ERP in it?
What is 3PL? Third-party logistics (3PL) are specialized service providers that offer a range of logistics and supply chain services to manufacturers, such as warehousing, inventory management, order fulfillment, and
What is Dead Stock and How to Manage It Effectively with ERP?
What is Dead Stock? Dead stock refers to inventory items that remain unsold for a long period, and the chances of selling them in future at their original market price
What is Contract Lifecycle Management (CLM)?
Contract lifecycle management is the process of managing contracts efficiently throughout the entire business lifecycle, from creation of contracts to renewals and terminations, with the help of automated contract lifecycle
What’s the Difference Between Gross Sales vs Net Sales?
Gross and net sales are two important sales metrics that reflect the revenue earned by the company over a specific period. However, each metric serves a different purpose, and knowing
What is Working Capital Management?
Working capital management is an ongoing financial activity that helps businesses maintain sufficient liquidity to meet their day-to-day operational expenses. It enables them to improve their cash flow position to
ERP Integration: What Is It and How Does It Work?
What is ERP Integration? ERP integration is the strategic process of connecting your ERP software with other critical business systems and tools for seamless data flow, providing a single source
Net Realizable Value (NRV): Why It Matters In Accounting?
What is Net Realizable Value (NRV)? Net realizable value is an accounting concept to determine the true value of a company’s inventory by subtracting selling expenses from its fair market