General Ledger integration with Tax Services | Sage 300cloud

Sage 300cloud allows you to enter tax amounts in G/L Journal entries. This new feature is available in Product update 2 for Sage 300cloud 2020 wherein General Ledger is integrated with Tax Services which allows users to enter tax amounts in G/L.

To pass tax transaction in G/L

Navigate to General Ledger à G/L Transactions à Journal Entry

Under Entry Type, we have the option to select the tax amount for either Purchase or Sales. Once the type of tax transaction is selected, we select the Tax Group for doing the entry.

(Please note, only tax groups created in Tax service are available in the finder)

Sage 300cloud Journal Entry

 

We also have an option to enter the details of the vendor number and reference Document Number for audit purposes. To enter the reference detail, click on   (zoom) icon. We need to make sure all the details are manually entered as it is not integrated with any other sub-module.

Sage 300cloud Tax Detail Summary

After selecting the Tax Group, click on ‘Create Tax Details’ so that system created the detail lines for the type of transaction i.e. Purchase tax or Sales tax, and each authority defined in the tax group.

For Purchase tax, we can select the Tax Account type from the below options available

  • Expense
  • Recoverable
  • Allocated

whereas for Sale, the Tax Account type is by default ‘Liability’

Sage 300cloud GL Journal Entry

 

We enter the appropriate details line G/L Account for tax authority, tax amount and other details respectively. Amount entered in G/L Journal detail line against the tax authority will be displayed in the Tax Amount column.

Sage 300cloud G/L Account

Sage 300cloud Tax Detail Summary

After the transaction is saved, verified and posted we include the tax details in below G/L report

  • G/L Batch Listing Report
  • G/L Posting Journals Report

Sage 300cloud Batch Listing

Sage 300cloud

Sage 300cloud

ERP for Educational Institutes

Like Hospitality Industry, Education Institutes are also busy round the clock with various activities like admissions, exams, class wise data and documents and records of all the pass outs along with their marks and documents. While these educational centers are very important for the country, it is very important that they themselves maintain their documents and records along with staff details in a single place. Since these details are very important to a student, the institute cannot afford to misplace it. Hence, Sage ERP for Educational Institutes plays a subtle but an important role for the institutes.

ERP for Educational Institutes can help the management and the admin team to manage educational related processes like fees management, financial accounting, Library management, Grades & exams management, Admission management, etc. ERP for Educational Institutes solution is designed to flow the information between each stockholders such as students, staff, parents, alumni etc. This can be beneficial to increase transparency of institutional policies & student mobility and faster processing of documents.

This is a one-time investment which leads to decrease in the expenses / costs in the long run. An ERP software creates ease in the time & efficiency factor which is very important for the educational institutions.

 

ERP for Educational Institutes helps the following stakeholders:

  • Teachers / Trainers
  • Students Portal
  • Staff Portal
  • Parents Portal
  • Recruiter Portal
  • Management Portal
  • Alumni Portal

 

The portals are used to access the information as per the user with strict control over modules and viewable data along with accessing the information anytime anywhere. There are various mechanisms for efficient information for stakeholders such as News bulletin, emails, SMS alerts, chats, Discussion forums etc. Sage ERP solution provides the management with a consolidated view not only for the students but also for the faculty in an educational trust.

 

Benefits of ERP for Educational Institutes:

 

Admissions process is automated which consumes lesser time as against the manual processes. Applying online from service portal makes application process simpler for all the students and the parents.

It helps in cost efficiency by managing the admission process, fees collection and documents. It is useful to organize the data the way you want to. It also provides security for the data. ERP for Educational Institutes provides the backup system to preserve the information from time to time.

Manage funds & improve information access across providing visibility to everyone. The ERP for Educational Institutes allows students to access the portal to pay for the courses and register for the new semesters. It manages records for each students, any department, staff or faculty on campus can find the information of student whenever they need.

 

To know more about how can Sage ERP Solutions help your business and your industry, SMS SAGE to 56767 or write to sales@sagesoftware.co.in

ERP for Insurance Claims in Automobile Industries

In automobile industry, we often come across a scenario where a damaged vehicle comes to the service center for repair / service. If the damaged vehicle is insured, then the repair cost is either shared by Customer and Insurance Company or borne by insurance company entirely.

Suppose the repair cost is 1, 00,000 INR for the vehicle, then the invoice will be raised against the customer but since the damaged vehicle is insured, the customer will only pay partial amount say 40,000 INR whereas the remaining balance amount will paid by Insurance Company.

Since invoice is raised against the actual customer 60,000 INR amount is still on the debit side. Now, we have to move this balance from Customer to Insurance Company. For this we will have to configure Insurance Company as customer in Sage 300.

This can be done with the help of Adjustment entry by using some clearing account and then passing the Debit note entry against insurance company.

Below mentioned are GL effects entries of the entries.

AR Invoice Entry

                        Dr                        Cr
Customer A                    100000
Income account                    100000

 

AR Receipt Entry

                        Dr                        Cr
Bank                     40000
Customer A                    40000

 

AR Adjustment Entry

                        Dr                        Cr
Clearing Account                      60000
Customer A                    60000

 

Debit Note

                        Dr                        Cr
Insurance Company                   60000
Clearing Account                    60000

 

But Before passing this debit note as per protocol, many check points are there which needs to be verified.

Hence, we have developed a utility which will automatically create the debit note against the particular Insurance Company once all those check points are satisfied. Let’s us first discuss how the configurations and how entry will be recorded in Sage 300, ERP for Insurance Claims in Automobile Industry.

Entry 1: An Invoice entry will be raised against the Actual customer as you can see in below screen.

ERP for Insurance Claims in Automobile Industry
ERP for Insurance Claims

Now, against this invoice which worth 100000 INR customer will pay only 40000 INR.

Pending balance will be transferred to Insurance company customer with the help of adjust button as shown in below screen shot:

 

ERP for Insurance Claims in Automobile Industries
ERP for Insurance Claims

As you can see we have selected Dist. Code at this level which is linked to Insurance clearing GL code. You have to make that Insurance company customer Code and Dist. Code should be same. You will come to know the logic behind this when we discuss below screen.

 

ERP for Insurance Claims | Automobile Software
ERP for Insurance Claims

This utility screen will create AR debit note on click of process against the insurance company customer.

Code of Insurance Company: This will be the list of all the distribution code from distribution master. Once you select the dist. Code and click on the go button, the program will fetch the data from adjustment which has the selected dist. Code at its detail line within selected date range.

The Grid in the above screen shows the following info:

Posting Date: Adjustment entry posting date.

Customer Name: Actual customer Name against whom invoice was raised.

Customer Code: Customer ID

Document Submitted: Implies whether required legal documents are submitted to insurance company or not.

Surveyor Certification Received: Indicates whether Surveyor Certificate is received from the Insurance Company.

Surveyor Certification Date: Certification received date.

Amount: Debit Balance

Debit Note: Indicates whether to create AP Debit Note or Not.

On click of process button program will create AP Debit Note for the Insurance company customer. As shown in the below screen:

 

ERP for Insurance Claims | Automobile Software
ERP for Insurance Claims

Hence, by using this utility from Sage 300, ERP for Insurance Claims in Automobile Industry, you can easily manage Vehicles Insurance claims.

For more details on ERP for Insurance Claims and what ERP is best suited for your business, SMS SAGE to 56767. You can also write to Sage Software Solutions at salea@sagesoftware.co.in

ERP for Shipping Industry

Shipping Industry is a very crucial and important industry when it comes to transportation of goods and material from one location to another. It is the cheapest and natural mode of transport available in today’s world for bulk shipping and transport. Almost 90% of country’s trade takes place through the shipping port nationwide. When it comes to movement of the material from one country to another there are a lot of processes which need to be taken care of. From documents to tracking to delivery of the material, everything needs to be tracked.

ERP for Shipping Industry – Sage 300cloud, is one such robust and scalable ERP Solution which can manage and handle all shipping related transactions and other office processes from a single ERP Software.

In a shipping Industry, lots of approvals and documents are required to be submitted along with the shipment. Sage 300 ERP and it’s add on modules help in getting these documents and approvals generated on a single click from the system after passing the entries in to the system.

For shipping Industry, is it very crucial to maintain a track of their operation so that necessary actions can be taken at the right time. This industry has multiple operations – from owning freights to providing maneuvering services. All these transactions can be handled from a single ERP for Shipping Industry along with maintaining records of provision like food and fuel for vessel owned or leased by the company.

Using Sage ERP for Shipping Industry, one would be able to address all aspects of a shipping industry. In Sage 300cloud, the information passes through the system quickly and effectively. This in turn saves time for data duplication as we save all the important information in single system. The time saved can be utilized to speed up the process of recognizing the revenue and doing analysis of the data retrieved from the system for better use of the working capital.

By using Sage application one would be able to do the following with the ease of just one click:

  1. Multi currency Exchange rates
  2. Budget Maintenance
  3. Vessel Performance
  4. Vessel wise profitability
  5. Provision controlling
  6. Payments
  7. Fixed Assets

Sage software solutions can also be integrated with other systems that are available on the port and the data from the ERP System can directly flow into the main system for the management without any human intervention hence providing correct information directly from the port to the office.

To know more, SMS SAGE to 56767. You can also write to Sage Software Solutions Pvt Ltd at sales@sagesoftware.co.in

Sage 300cloud Audit Trails

As per the Central Government new notification under the Companies (Accounts) Amendment Rules every organisation is entitled to record an audit log of each and every transaction if they are using Accounting Software.

Sage 300cloud has reports and features, which are helpful in tracking and reporting of Audit Trails. This information can be acquired from various sources in the software and all these features are stitched in the masters and transactions. 

Admin users can check information of availability of rights assigned to user, report and dashboard accessibility rights. Customised screen, modules rights assigned to users. This information can be accessed using Administrative service module: 

Administrative services >>Administrative reports>>User Authorization Reports 


User Authorization reports can be printed and checked for rights available to the users. The module rights information and transaction entry, posting rights details can be acquired using this report.

Masters Tracking: 

Admin users can use last maintained as valuable information from the screen to track any changes in the masters, the last maintained date can help to track posting and transaction errors. It is much easier to track masters and causes of posting issues using the last maintained feature in item master.


Further, if you wish to check the details of User who has done the last modification with Audit Date and Audit time, you can scout the database.

Transaction Entry: In the event of errors, wrongful entries or illegal transactions, it is always required to mention the source of the transaction. The source of entry can be tracked using the ‘Entered By’ section information in transaction entry which is available throughout Sage 300cloud.


In the batch list you will find the last edited date for the batch.

Additionally, if you wish to check the details of the User who has done the last modification with Audit Date and Audit Time, you can check the database.


With all the information available in the standard Sage 300cloud and Database, you can create a Custom Audit report in Intelligence Reporting, which will provide all the details mentioned above.

If this information is not fulfilling the requirements and an organization requires an additional field to field tracking of transaction, then one you may choose the Audit Logger Module.

For more details on Sage 300cloud, visit https://www.sagesoftware.co.in/sage-300cloud-erp-software  

ERP for Pharmaceutical Industry

ERP for Pharmaceutical Industry

The Pharmaceutical industry in India has been witnessing a phenomenal growth in recent years driven by the rising demand levels in the country and strong demand from export markets. The constantly changing market conditions and legal environment such as cost cuts in the health care sector – force pharmaceutical companies to be able to react quickly and flexibly to change in order to stay competitive. Today, the unsaid rule for any industry is that the faster the demands of the market change, the more flexible a company’s business processes need to be.

The ever growing demand for new and enhanced pharmaceutical products has resulted in a high competitive market therefore putting a lot of pressure on pharmaceutical manufacturers in the Small and Medium Businesses to keep themselves with the ever-increasing demand for the production of such drugs in huge quantities.

To maintain all the processes and the data from one system, Pharma companies require a robust and scalable ERP for Pharmaceutical Industry. ERP for Pharmaceutical Industry is a flexible & the most powerful business management process offered by Sage Software Solutions. Sage 300cloud, ERP for Pharmaceutical Industry manages all critical business functions in any business process.

Enterprise resource planning system integrates and automates the main functionality of an organization thereby facilitating the flow of information among the different functions of an enterprise, while also permitting information sharing across organizational unit.

Sage 300cloud makes optimum utilization of all available resources, the result is higher efficiency and better performance. It can effortlessly track lot properties while optimizing and improving other business processes like batch production, sales functions, inventory control, purchasing, quality assurance, accounting and financials, regulatory reporting etc.

It has been proved beyond doubt that implementation of ERP systems not only gives more transparency to business processes but it also allows businesses to operate more efficiently, predictably and more profitably. Real-time access to data and an easy to use interface in ERP solutions form an integral part of the business strategy by providing a collaborative environment. Information is available to all stakeholders, from employees to customers and suppliers, enabling smoother transactions, a higher velocity in decisions and faster turnarounds.


—> Download Now : ERP for Pharmaceutical Manufacturing (Free E-book)

Benefits of ERP for Pharmaceutical Industry

  • Helps to attain higher production by streamlining all the processes.
  • Easily handle accounting for all type of sales & purchases.
  • Manages the inventory control & also gets the accurate operational performance.
  • Saves Time and Operational costs.
  • Monitors manufactured goods distribution.
  • Better Customer Support.
  • Extensive reporting – You can have several reports in ERP which give you the list of all the transaction in your business.
  • You can take better business decisions with ERP on the go from any device, any place and any time.
  • Tracking the stock of inventory is an important factor & to maintain the stock of every raw material. Manufacturing industries have different departments like production, QC, Sale etc. & to know the current status of finish good easy with the help of Sage 300cloud, ERP for Pharmaceutical Industry.
  • Clear visibility on cost management throughout the industry.
  • Accounting will easily handle for all types of customer & vendor bills.
  • Finance Module in ERP gathers financial data from various functional departments and generates valuable financial reports such as Balance Sheet, Trial balance, General Ledgers, Quarterly Financial Reports, Account Statements, Gross Profit Analysis.

—> Download Now : ERP for Pharmaceutical Manufacturing (Free E-book)

Sage 300cloud, ERP for Pharmaceutical Industry also provides the summary & detail wise data & that data also will get generated into custom reports as per the companies requirements.

At Sage Software Solutions (P) Ltd., we are home to world-class On-Cloud ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in. We will provide you all the required support to implement a Cloud-based ERP solution in your company. Book an appointment today!

If you liked this article, don’t forget to share the link with your friends. Also, follow us on:

LinkedIn

Twitter

Facebook

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.

5 burdens an ERP Consultant can take off your back

Any ERP Implementation requires a big amount of time and capital investment, and if the ERP Implementation is not well planned, then the whole project might become a nightmare for the organization and will not be able to get benefits of an ERP. To avoid the ERP implementation going off the charts, it is always advisable to have an ERP consultant. These consultants are experts in ERP project implementation and analysis of the overall Project.

These consultants can be hired from outside or be someone from the company itself. Involving the ERP consultant from the start is recommended as they can thoroughly analyze the ERP requirement for the company. Evaluation and finalizing a vendor also becomes easy since the ERP consultant knows what the right kind of questions are that they should be asking the ERP vendor.

 

Benefits of hiring an ERP consultant before the implementation:

 

Protecting your own interests – not that of your ERP Vendor: while selecting an ERP consultant for one’s organization to implement an ERP, one should keep in mind their own interest rather than that of the ERP Vendor. The vendor is responsible only for the product and not for the consultancy services. It’s not necessary that a good sales person is also a good consultant. These two should be two different persons. Relying totally on the vendor even for the consultancy may do more harm than good.

 

Addressing the people and process side of your ERP Implementation: for any success of any ERP project, it is the users and process that leads to the success and failure of any implementation. Hence, it’s very important for any ERP consultant to understand the difference between the technical limitation and process management. These two things should not be linked together by the consultant and users should be well trained on the process and any organizational change management as they are on the software.

 

Filling the void of a lack of ERP Expertise: time taken to change the ERP software in most of the organization is about 10-20 years that is why the most internal teams don’t have experience to be successful or effective on the new system. Hence it is very important for any ERP consultant to fill this gap by proper training and hand-holding and drive the team to a successful implementation.

 

Charting path to a successful ERP implementation: it is said that a good and well planned activity leads to the success of the same. The ERP consultant should be in a position to provide the company a road map based on realistic scenarios and SMART goals and not on any hypothetical implementations. This road map illustrates and can provide one the path to either the success or failure of the ERP implementation. This will also help to provide a breather to the ERP Vendor by not setting unrealistic deadlines and helping the implementation to shape up properly.

 

Determining how to realize a strong ROI on your ERP software investment: Last but not the least, the ERP consultant should also be responsible for the cost of the project should not be going too high. If possible, the consultant should aim to complete the implementation within cost and time allocated to the project. Many organizations think hiring a separate ERP consultant will add to the cost of the project, but this consultant can reduce other recurring costs that may occur in future if a wrong consultant is selected.

 

Most organization understands that the key to any ERP implementation success is to leverage a knowledgeable third party or an independent ERP consultant. Any ERP implementation requires much more apart from just hiring an ERP consultant, but this is also important part of the process.

At Sage Software Solutions (P) Ltd., we are home to world-class On-Cloud ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in. We will provide you all the required support to implement a Cloud-based ERP solution in your company. Book an appointment today!

If you liked this article, don’t forget to share the link with your friends. Also, follow us on:

LinkedIn

Twitter

Facebook

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.

 

Benefits of ERP and POS Integration

Today every retail or hospitality company has a POS system which helps the hotels, restaurants and retail to calculate their daily to monthly revenue and income. Though a POS system can help the company know what it is earning, it still fails to give the company a larger picture in terms of forecasting, inventory, supply and channel management.  Many old POS applications still do not have a detailed accounting & inventory feature, making it difficult to identify the stock inventory & balances of the accounts. The results is that, there are still large number of companies which are running a number of manual processes to maintain their inventories & ledgers. These companies should consider what is the ERP and POS Integration.

 

Sage 300cloud, ERP for SMEs, has been handling ERP and POS Integration for long and below are the two types of integrations which we usually recommend:

 

  • Real time integration: In this type of ERP and POS Integration we can have the database access to POS system so that, we can directly read the data from the POS system database & create the appropriate entries in Sage 300cloud. Many times, these types of integrations are denied by the retailers because they don’t have rights to access the main database directly. But if you have the rights, you can go ahead with this kind of integration.

 

  • Scheduler Base Integration: In this type ERP and POS integration, we need the data sorted in file formats like excel or text. Almost all the POS systems are allow to export their data into a particular file format. With the help of that data we can integrate the data from one system to another. We can set the schedulers for this kind of integration. E.g schedule the system to read the exported entries every day at night system and generate the entries.

 

Important benefits of implementing ERP and POS Integration:

 

  • Data Integrity: No matter how the data is and in which format, even if we will have the calculated required data, we can easily integrate the 2 systems. In this type of integration we are always trying the keep all the required information in both the systems, so even if the user uses one platform to operate the data from one system, he can see the effects on the other one too.

 

 

  • Reduce Risk:

In this type of integrations, mostly the retailers have big question mark for security of data. Sage 300 will provide you the secure data in both the systems & also reduce the mismatch of data in both the systems.

 

  • Easily Customize the process as per the company standards:

Each & every organization have a different process for accounts & inventory which can be easily added and synced with the help of Sage 300 and made simpler for the retailers.

 

  • Forecasting:

With the help of ERP and POS Integration, you can get an overall visibility of all your stocks, sales and revenue. It will help you in forecasting of your inventory and how much can you stock up. This will help in reduction of waste and increase in productivity.

 

At Sage Software Solutions (P) Ltd., we are home to world-class On-Cloud ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in. We will provide you all the required support to implement a Cloud-based ERP solution in your company. Book an appointment today!

If you liked this article, don’t forget to share the link with your friends. Also, follow us on:

LinkedIn

Twitter

Facebook

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.

 

4 mistakes to avoid during ERP upgrade

Major enterprise resource planning program upgrades are often seen as a long, arduous technique, but avoiding definite mistakes can help companies maintain maximum performance when implementing program improvements without disrupting users comfort with their current process. This is important for organizations that depend on their ERP program but need updates to keep their systems walking at full potential. Here are some ERP upgrade errors and how your enterprise and its employees can avoid them.

 

4 mistakes to avoid during an ERP Upgrade:

 

  1. Not communicating the update to the users:

This looks like a very simple problem, but it can be surprising how often the definite members and users of an organization don’t know that modification is being made to the system. Speak with your employees throughout each and every step of the upgradation process to confirm they don’t feel distressed by all the modifications coming their way. Plenty of people are used to the previous systems and asking them to suddenly use the upgraded system, may cause some discomfort. Reassure them the upgrade is for the betterment of the corporate overall and not meant to increase the complexities. Keep the channels of communication open thus staff will come back to you with considerations if they need them.

 

  1. Selecting an ERP solution based on market survey

It’s very easy to buy a new ERP solution for an organization. But it is very important to look history of the ERP software and focus on of what it will be used for. Also check the capabilities and restrictions of the ERP software and the vendor. In addition, get the reference of companies similar to yours when deciding what ERP to go with. If other businesses are having luck with sure application, yours might also work as you have envisioned it to.

 

  1. Not budgeting enough time or money

We, at Sage Software Solutions, are working with ERP systems since a long time and one thing is always true that the end users never like to adopt new changes because it causes them to do an additional work. Rather they would deal with old system’s fault and inefficiencies than adapt to a new system. Provide a consistent training to the users and don’t expect everything to be able to change overnight. Also aid the more workers to the employees who are working for peaking a new system, in figuring it all out.

 

  1. Didn’t do a mockgo live

These tests are a great way to discover the intricacies & advantages of your new ERP process before the particular date you need to start using it. Without this dress rehearsal during the ERP upgrade, small issues can become larger issues that will affect the workflow of your employees. It is hard to return & perform a check of the application one time you have already gone ahead with the ERP upgrade and launched. In case you can push back your live day to receive a check run in beforehand, do it so that you can decipher all the moving elements that will be required to be in place for the system to figure properly.

Making upgradation to your ERP system can come with learning curve for your organizations employee. This enables your employees to settle in to the new method and also your organization will be up to date.

At Sage Software Solutions (P) Ltd., we are home to world-class On-Cloud ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in. We will provide you all the required support to implement a Cloud-based ERP solution in your company. Book an appointment today!

If you liked this article, don’t forget to share the link with your friends. Also, follow us on:

LinkedIn

Twitter

Facebook

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.

Top 5 Signs Businesses Need ERP System

Why Businesses Need ERP Systems?

ERP Systems/ ERP Software or Enterprise Resource Planning tool is not only important for large scale companies, but also for startups and SMEs. In their bid to be very appealing to the consumers, the entrepreneur does often forget that it is not only his product or service but also his operations which will help him to scale up. Lower costs of operations, faster turnaround time, synchronized departments, decisions on the go and better efficiency are some of the benefits of ERP for SMEs and startups.

Benefits of ERP Systems for SMEs:

1. Synchronized departments

For industries like retail and eCommerce which have multiple departments and locations, synchronization among the same is very important. Multiple warehouses, multiple hubs and co-ordination among them is very important. An ERP software helps in bringing all the data from all locations together and connects everyone on a single platform. It acts like an end to end business function for an organization. Imagine if you had details like sales order, POs, inventory flow of your multiple warehouses from a single platform which can also be viewed on the go, how much time would you and your staff be saving.

2. Faster Turnaround Time

With the help of ERP an organization can improve their efficiency, which is very imperative for any SME. Benefits of ERP is that it equips the sales, marketing and customer service teams with all business data very effortlessly and on time and a single click with the help of MIS and other reports. Based on which, everyone can take immediate action and increase the turnaround time. With the help of ERP, a lot of work can be automated hence, increasing the time for the team to serve the customer properly.

3. Teamwork

Benefit of ERP solution is that they can be integrated and use a single solution for all the core business needs. With the help of an ERP, any organization can manage their inventory, manufacturing, financial, human resources and other data from once ERP solution. This data syncing and flow in ERP encourages more unity towards team work. Any team member can enter data into the ERP and the same data can be accessed, viewed and used by the other members of the team even if the sales rep is not present on premise. It is also very true, without teamwork, ERP is not success. So for the success of ERP everyone in the organization would have to work as a team.

4. Control Over Operating & Operational Cost

Usually an organization has multiple systems to take care of its various operations. For accounting they may have a different system and for tracking inventory, they may have a different system. The problem with these accounting systems is that though they streamline the processes, they tend to create data duplicity. With an efficient ERP Solution, all the data is synchronized and the company can find out the leakages that are happening in the data and can fix the operations that is causing the company money and time wastage.

Without ERP in most of the organization, it has been observed that it is very difficult to do proper planning for procurement and production of the materials. Identification and control over operating and operational costs can help the company save a lot of money and concentrate on processes which will help them grow.

Eureka! Here is an infographic explaining how a cloud based accounting software can help improve productivity whilst saving time and money for your business.

5. Decision Making

With help of a cloud ERP solution, any organization can take prior decision with the instant available data. ERP solution helps an organization to be aware about the insight situation such as shortage of fund, inventory, and deliveries, etc. on the go anywhere, anytime and any device. Take your business with you and to the client. Be updated always about your inventory level in front of the client and update all the communication from your device once the meeting is over so that you do not miss out on any pointer for follow-ups. Set up notes, communications and trackers so that the team may get back to the client efficiently even if you are not in town.

How to Choose the Right ERP Software for Your Business?

Enterprise resource planning or an ERP software is a powerful data management software tool that enables the business to view and share data allowing for the streamlining and automation of essential business activities. It is a myth that ERP is just for the bigger companies, even small businesses can benefit from having an ERP system in place, especially if the system is modular and can grow as the business expands.

There are so many of ERP software solutions available in the market, make sure you follow a step-wise process in selecting the system, and have all the information you need before choosing ERP system.

1. Know what you need

Before selecting an ERP system, take time to analyze and define your business processes and identify all the weak points that can only be improved by an ERP software. Also keep a futuristic approach while selecting an ERP. Scalability is an important factor that the company should look into while selecting an ERP software. Here, the vendor’s ability to provide long time support and solvency to support his own business functions for a long time can be assessed. Ensure this process takes into account, operations all levels of the business, and simultaneous, also consult with the staff, end users and IT to get all relevant details about feature of an ERP will make their everyday tasks easier. This process should produce a list of needs that can be fulfilled by an ERP software and hence, providing a good starting point for identifying a power software solutions for your specific business needs.

2. Understand the cost of ERP implementation

Valuation of ERP system should consider not only the optimization of processes but also value-added services, the cost, employee time and the removal or modification of any current process. ERP implementation is not a simple process, and it can become expensive quickly; make sure your business is ready and in need of such a solution. Hidden costs and heavy customization can make the overall costing of the product more expensive.

3. ERP Vendor

The current trend is to treat ERP as a software service, for which you pay to a vendor a specific monthly fee, and they provide the system and the support from a remote server. Make sure you have a vendor who is committed to the product, and make the changes as per business requirement for committed year. There are a few big players in the ERP market who provide a lot of services whereas the smaller vendor may have a solution that better fits your needs for the time but going ahead, it may not be scalable and will not be able to support your business. Take your time to identify vendors that can provide long term support and assistance while not exceeding the costs.

 4. Customization option

One of the main benefits of cloud based ERP software is their modular nature, allowing businesses to optimize and customize software to their particular needs. However, many businesses fall into the trap of purchasing many customization options that they don’t need and paying for them without ever utilizing the full potential. Stick to your list of needs, and be wary of customization options that are “nice to have.”

5 Tips to Pick the Perfect ERP Software Consultant for your Business

Picking an ERP consultant for ERP implementation is certainly a tricky thing. This is why it is important to be extra cautions when shortlisting a consultant from the crowd. Here are five tips to help you choose the perfect ERP consultant for your business.

1. Awareness of business processes/operations

For successful ERP implementation, it is very important for the consultant to have sound knowledge of your business processes. This makes it easy for the consultant to understand your business scenarios and requisites pertaining to the ERP in 2020. This saves your time and efforts both.

2. Good communication and analytical skills

One of the best qualities to ensure in your consultant is the skill of analysis. If a consultant lacks good analytical and communication skill, then it is possible you would have to explain the same scenarios/requirement multiple times. A consultant should be able to draft proper requirements, project milestones and its deadlines, proper documentation and most importantly, the consultant ought to have excellent problem-solving skills.

3. Experience

An experienced consultant is very helpful and fruitful for your ERP implementation and adoption. An experienced consultant always gives precise advices and suggests best ways and practices, which are healthy for your organisation. Most of the time, it is observed that many of the processes / scenarios of your organisation fail to fit in the ERP blueprint. An experienced consultant can suggest and illustrate perfect ways as well as would re-engineer the project’s plan to overcome these types of scenarios.

4. Comfort Environment

It is also very important for your ERP consultant to foster a healthy and comfort environment with your internal team. You should create a healthy environment between your consultant and internal team to make the consultant feel a part of your organisation. This is helpful for seamless ERP implementation.

5. Share your complete requirements

One of the best tips is to share your requirements in-and-out with your ERP consultant. You should share your requirements with the consultant very accurately and completely. Because it is only through accurate sharing of information and requirements, your consultant would be aware of all your ERP requirements and can plan, work and suggest accordingly.

At Sage Software Solutions (P) Ltd., we are home to world-class On-Cloud ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in. We will provide you all the required support to implement a Cloud-based ERP solution in your company. Book an appointment today!

If you liked this article, don’t forget to share the link with your friends. Also, follow us on:

LinkedIn

Twitter

Facebook

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.