What if my ERP software implementation has been a disaster in the past?

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ERP software implementation is a rigorous process and requires constant monitoring to avoid it from being a disaster.

Enterprise Resource Planning (ERP) software is no less than a boon for any business. It’s because it allows companies of all kinds to conduct business-critical functions ranging from Sales, Marketing, and Finance to managing warehouses, customer relationships, and human resources. So if a business wants to stay relevant, it must have top-notch ERP software to help handle its operations. But there is a catch! 

ERP implementation process is rigorous and requires constant monitoring. A single mistake can lead to a significant loss of time, effort, and money. 

Have you encountered ERP implementation failures in the past? Would you like to save yourself from a similar experience?

Here are a few tips that you must keep in your mind:

1. Check your vendor

You must spend considerable time selecting the right ERP vendor. There are numerous ERP vendors in the market and you should compare the pros and cons of each of them before taking the final call. 

Here is a checklist that will help you make the right decision:

a. Check their credibility in the market.

b. Check for how long they have been serving and how much experience they have in implementing ERP systems.

c. See the kind of service they provide. Inspect all the features carefully.

d. Compare the ERP implementation price to see whether you can afford it or not.

e. Ask how much time will they require to conduct the entire ERP implementation process.


Also Read: Why the Future is all about Bots for Enterprise Vendors?

2. Decide what features you want

Remember that ERP software implementation is not just your vendor’s headache. It’s yours too!

Before the process begins, it’s a good idea to brainstorm what features you need and what you don’t. 

Here’s a checklist you should keep in mind:

a. Check whether you require an on-premise ERP software or a cloud-enabled ERP system?

b. ERP implementation will require you to suspend business-critical operations for a particular period. Make arrangements for the same.

c. Examine whether you need generic ERP software or industry-specific ERP software?

d. Do you have an in-house IT team or will you depend entirely on the vendor to provide IT support?

3. Train your workforce

One of the biggest reasons for ERP implementation failure is the unreadiness of the workforce. Your employees are going to feel the heat during the implementation phase. Sometimes they might need to work for longer hours, and sometimes they may not access critical data. Data reveals that 30% of ERP implementation projects take more time than estimated. Such conditions can demoralize your teams and impact their productivity. It would help if you handhold your team through these tough times and motivate them to perform well.

Besides, you also need to train your workforce on how to handle the ERP software once it’s implemented. Usually, older employees resist the implementation process because they don’t want to learn new technology. You must provide them all the needed support and confidence to pass through this challenging phase with ease. 

4. Check what your competitors are doing?

As in all the other fields, it’s critical to monitor what your competitors are doing. The following checklist will keep you updated:

a. Check which ERP vendor is the industry leader collaborating with?

b. Is the industry leader opting for an on-premise, on-cloud, or a hybrid ERP software?

c. How are they upgrading their workforce?

d. How are they managing their customers?


Also Read: Is your ERP Software ready for global exposure?

Conclusion

Statistics reveal that 60% of ERP implementation projects fail to achieve the required goals. It’s because of several factors mentioned above. With the right strategy, vendors, and handholding techniques, you can prevent ERP implementation disasters and better serve the customers. 

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

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.

 

Automobile Ancillaries ERP

Reading Time: 5 minutes

Sage 300Cloud for Auto Ancillary

The Auto Ancillary sector works closely with Automobile Industries. The Auto Ancillary industry, in general, is one of the crucial sectors for the Automotive sector with higher growth prospects. Few examples of Auto Ancillary industries are Tyre, Batteries, Automotive Gears, Engines, etc.

A great demand for auto ancillary components and parts mostly arises from Original Product Manufacturers or OEMs (Original Equipment Manufacturers) and replacement market. For the Automotive industry, OEM’s generally are Two-wheeler, three-wheeler, commercial vehicles.

Rapid globalization is driving companies for newer paths for the transportation industry. We are nearly at the edge of another major shift towards electric, electronic, and hybrid cars, which are more efficient, safe, and reliable transportation modes and getting more and more accepted throughout the global economies.

 

Impact in the near future

We are already seeing a primary competitive market where more efficient and technologically advanced companies are going ahead in the race, while even the Automotive giants are having issues with sustaining in the market, which is positively impacting the Auto ancillary businesses working with them.

However, it will lead to newer verticals and opportunities for auto-component manufacturers over the next few years. Change can be lethal for some industries. It can result in a collapse if they don’t have a sound systematic, operational, and financial understanding of their business. On the other side, it can be fruitful for more flexible, resourceful industries and can handle rapid changes. 

 

Role Played by ERP 

Leaders and management of companies in the sector often need to make critical decisions on making operations in an organization more efficient and profitable. One of the primary decisions is acquiring an ERP. According to a recent survey:

60% considered operational accuracy as the primary goal behind investing in an ERP.

17% were motivated by global business services and support 

15% were motivated by growth opportunity

8% were motivated by cost reduction factors

Modular Enterprise Resource Planning systems are integrating internal and external processes necessary for successful automobile business. Management and higher authorities are getting the information they need to take important decisions and do task defined below:

  • Generate a standard information flow for the working team and include them in meetings and discussions.
  • Reduction in production costs, improved product and better customer service and increase in pay-offs simultaneously
  • Keeping track of Departmental activities and performance analysis.
  • Minimal Risk Decisions based on accurate analytical data from the system
  • Analyzing areas to be controlled and as well as the area that requires modification in operating procedures.

 

Sage300Cloud: Auto Ancillary

Today we have a wide range of ERP software products in the market, however, most of them can come with a set of pros and cons. While CEOs and leaders know ERP importance within their organizations, they are also aware that integrating ERP systems can be a painful and daunting task.

Sage300Cloud solutions keep these issues of implementing and integrating at bay with our global experience of vast auto ancillary industries and industry-specific solutions and resources.

 

Business Solutions:

Sage for auto ancillary industry keep a check over inventories used for production. It helps you to track multi-tier shipments and enhance the product development cycles. Sage 300Cloud is a robust ERP software for the auto ancillary industry to manage operations seamlessly.

  • Inventory management: Inventory Min-Max Planning, Inventory optimization, under and overstock recommendation from system and Reconciliation of inventory. Multi-level Bill of Materials, Assembly, Disassembly, Transfer, and location tracking features provide efficient inventory tracking.

  • Control management: It is convenient to track product and customer service quality in real-time, notice underlying problems, and correct them on time, ensuring in such a way high-quality standards of automobiles and customer relations. Auto-Components are tagged to serials and lot numbers for easy tracking.

  • Electronic document database all documents are electronically available in various formats based on demand and requirement.

 

  • Finance management system: Sage300cloud keeps all financial and accounting data in one place available at any time, and, as a result, all financial information is managed more effectively. Budgeting, Fiscal set comparison features allow comparisons of actual vs. budget saved in the system. Multicurrency and Multi-company capability will enable you to do business effectively and grow exponentially.

 

  • Sage 300 Power Business Intelligence(BI): We provide a powerful excel based self-customized reporting tool which extracts information from anywhere from sage, specifically designed keeping in mind the needs of every customer, thereby reducing expenses in customized reports.

 

  • Order management system Complete visibility of customers’ orders, which allows analyzing inventory and purchasing history and become prepared for the upcoming contacts with a client. The system can carefully manage order shipment, replacement, and returns. 

  • Purchase management on the move purchasing transaction and reporting helps to purchase authorities to get the reports they want to make decisions and guide necessary actions.

  • Sage 300Cloud Mobility: Sage 300Cloud cloud-based accounting software allows you to quickly and easily create and track invoices, accept payments, record live transactions from anywhere, track cash flows, automate administration, capture all expenses, and much more to keep in touch with clients and company’s colleagues.

To know in detail as to how Sage CRM can help your business turn into a sale powerhouse, click here. You can also drop a mail to us at sales@sagesoftware.co.in or simply SMS SAGE 56767.

Packaging industry Sage 300cloud

Reading Time: 4 minutes

 

Packaging industry is one of the most underrated yet crucial industry in the modern world. Goods manufacturing industries, Food and Beverages industry or any kind of Product manufacturing industry cannot sell their product without this industry. The first thing we encounter in a product is its packing, we sometimes judge the product based on the packaging.

The Packaging industry works as an Ozone for the product, it keeps the product safe and workable till the time it reaches the destination or sometimes keep it procured or stored for a longer period even after that. Even then these industries are more prone to constant pressure of cost cutting, continuous environmental standard regulations, unwanted spotlight and publicity from media.

These were the things that most of the companies cannot control and out of our hand, what we can control is the efficiency in our financial and operational activities, whether your company produces recyclable materials like cardboards,wraps,boxes,bottles,carton,sheets or any other kind of packaging, you got to find ways to boost operational efficiency and quickly respond to evolving demandsof customers as well as changing regulations and market trends. Which can be achieved with an ERP solution trusted by millions of customers of multiple domains and of the same domain to scale and grow their business.

Challenges faced by Packaging Industry:

  • Complex Multi Units of Measurement: Raw Material bought in Kg, stored in sheets, sold in Boxes
  • Material Tracking issues without Lot and Serial tracking.
  • Warehouse management: All material stored at one place or stacked over without proper labels.
  • Improper Inventory Management: Overstocking and Understocking without even realizing.
  • Constant Order Delays: No Proper order and Shipment tracking causing buyers to look for other supplier for packaging.
  • No Risk and Financial analysis leading to overall organization failure
  • Supplier and Vendor Relationship: No timely Payment and delivery impacting relationship due to poor record keeping.

 

 Grow Your business with Sage Packaging Industry solution

  • Show that you are flexible and can handle wide range of packaging requirements having capability to meet compliance and quality standards with efficient record keeping and reporting.
  • Project Costing, mapping and Analyzing.
  • Forecasting accuracy and financial control
  • Managing inventory and reduce order fulfilment time.
  • Conduct Inventory reconciliation and reduce waste and recycle whatever possible.
  • Business Intelligence reporting as per Industry requirement.
  • Serial and Lot tracking to recall, hold or reprocess material.

 

Sage300cloud:Packaging Materials

Sage 300cloud packaging ERP software is designed keeping in mind needs of packaging industry. Continuous innovation in the packing industry is pushing the boundaries of effective design, materials and cost involved.

Sage 300cloud provides complete packaging industry software solution in one package. We are preferred choice of package industry leaders all over the world, providing complete customer satisfaction and growth aspect.

Business Solutions:

  • Inventory Management: Maintaining min, max and reorder level, understocked/overstock item comparison, Vendor and customer pricing set up, Sales margin/markup analysis these are few of the offering we named for inventory management. Diving deep in sage 300 provide many features which are available to the user for boosting operational efficiency.

 

  • Multi-Unit of Measurement: Sage 300 provide feasibility to automatically convert multiple unit of measurement by storing material in x unit, producing in y unit and selling in z unit. You can keep your inventory in kilograms and produce and sell in boxes or sheets.

 

 

  • Serial and Lot Tracking: Storing materials randomly can cause havocs in order processing and timely delivery. Sage can tag material in serials and assign them in lots to offer better traceability and effective tracking of In/Out of inventory.

 

 

 

  • Stock Movement and Transfers: Moving Inventory from one location to another without knowing the whereabouts can put inventory management in danger. Can cause discrepancies in stocks of system vs Yard stock, which can lead to overall failure of procurement.Sage 300 keep track of transfers of inventory from one location to another.

 

 

  • Inventory Reconciliation: Even after keeping all the measures to maintain proper inventory difference in the inventory can occur, you can take a stock count periodically so that your inventory is optimally maintained. System will provide a worksheet for comparison and reconciled stocked can be put back via import sheet.

 

 

 

 

 

 

  • Power of Multi-level Bill of Materials:Sage 300 helps in maintaining Multi level Bills of material so that correct product information is distributed over different departments of a company.

 

 

  • Requirements Planning: Sage provide multiple reports that can help in generating requirement planning. Optimizing inventory feature can provide a recommendation of overstocked and understocked items based on previous period sales so that you can make decision to procure required material.

 

  • On-Time Order Processing and Tracking:Complete visibility of customers’ orders which gives an opportunity to analyze inventory and purchasing history and to be prepared for the upcoming contacts with a client. Order shipment, replacement and returns can be carefully managed in the system.

 

 

 

  • Risk Analysis and FinancialBudgeting, Costing and Valuation:Financial budgeting and comparison feature help you compare you expenses with actuals, you can set account based budgets and compare them with actuals to plan your expenses for future. Financial reports can help you manage and risk involved in areas of expenditure and sales.

 

 

 

  • Analytical Data Driven Procurement: Procuring material is a daunting task that requires inventory assessment and sales data. Sage 300 gives all this information with minimum effort and help to procure material based on actual data.

 

  • Secured- Service on the Cloud: Sage 300cloud let you manage your business from anywhere across multiple functions, currencies and geographies with a flexible solution that can adapt to your needs.
  • Business Intelligence Reporting: Businesses today have specific requirement in terms of financial and operational reporting. Sage helps companies to generate self-customizable reports catering specific to their needs.

 

 

 

5 Common Pharmaceutical Manufacturing Challenges that can be resolved by an ERP Software

Reading Time: 4 minutes

Importance of ERP software for Pharmaceutical Manufacturing Companies.

Cut-throat competition, increasing governmental regulations, rising consumer expectations, and strict punishments for not following compliances are a few reasons that have made businesses across industries find ways to make a lasting impression in the minds of their customers. 

ERP software for pharmaceutical manufacturing companies has useful modules — such as agile decision making, streamlined workflow, centralized management, and data-backed analytics — allow pharma companies to differentiate themselves and build an appealing identity. 

Take a glance at the pharmaceutical industry. You will find various challenges, including but not limited to price fluctuations, rampant price wars, continuous innovation, predatory pricing, reverse-engineering of pharma products, the influx of new entrants, stricter government regulations and norms. 

Today’s customers are well-informed and know about their rights. Governments and reputed international organizations are codifying stringent regulations and are punishing detractors. Consequently, cases registered against pharma companies are rising. 

Pharma ERP software enables companies to provide the best quality medicines at the lowest prices. They automate manufacturing operations, efficiently manage external stakeholders — vendors, suppliers, and distributors, bring down transportation costs, eliminate human errors, and enable pharma companies to adhere to compliances and regulations. Pharma ERP software provides a 360-degree perspective of the company and helps smoothly manage the affairs.

The following are the 5 benefits of ERP for the pharmaceutical industry:

1. Pharma ERP helps in Inventory and material management

ERP for the pharmaceutical industry allows inventory managers to monitor the inventory levels and control pilferage. It maintains real-time records for production materials. As soon as the quantity of raw materials goes below the set threshold, the pharma ERP automatically places an order with the vendor. It has a dashboard that provides insights, such as material usage and inventory levels periodically. Additionally, the pharma ERP also generates inventory status report regularly that helps save cost and manage expenses. 


Also Read: Why Pharmaceutical Manufacturing Is The Most Promising Sector Of The Upcoming Decade?

2. Pharma ERP helps in Sales and Marketing management

Pharma ERP software has numerous pre-defined templates that allow managing contracts and process sales orders efficiently. It maintains a massive repository of customer data and updates it regularly. Pharma ERP formulates competitive price quotes based on the following factors:

  1. Geographic data
  2. Demographic data
  3. Behavioral data
  4. Past purchasing pattern
  5. Recent purchases

Once the sales order is ready, it creates automated workflows, thereby eliminating the need for humans. 

The marketing department can run promotional campaigns and monitor vital statistics in real-time. They can alter campaigns based on changing market patterns and implement strategies on-the-go. The ERP software for pharmaceutical manufacturing companies also breaks information silos and allows business-critical information to flow across departments. This enables departments to work as a cohesive force and further the interests of the company. A single window enables pharma companies to handle everything from one place and save time, effort, energy, and resources.

3. Pharma ERP helps in regulatory compliance 

As discussed in the opening paragraphs, governments across the globe are formulating stringent policies for pharma companies. Those companies that don’t adhere to mandatory regulations face severe punishments ranging from massive fines to shutting down their business. Pharma ERP software maintains a rigorous checks and balances system, validates protocols, manages bills and receipts, and clubs formulation and compliance management modules to ensure full compliance. It also manages essential documents that help perform audits and maintain statutory vigilance

Pharma ERP manages historical data and also provides analysis tools for appropriately estimating the future. Moreover, it enables all business stakeholders to store and retrieve critical data in one place and share it instantly. 

4. Pharma ERP provides improved traceability

Traceability is essential in the pharma industry. Various government regulations have made it mandatory and it also makes the manufacturing process efficient. ERP for pharmaceutical companies keep a detailed record of all historical purchases and track the movement of raw materials and finished products in and out of the system. It smoothens the audit trail process and enables the company to respond to product recalls in a short time — within a few minutes rather than days. 


–>> Download Now: A Complete guide on ERP for Pharmaceutical Manufacturing <<–

5. Pharma ERP provides exact product costs

Pharmaceutical manufacturing companies struggle in keeping track of operational and material costs. The absence of business-critical data makes critical decision-making challenging and creates obstacles in formulating best-quality product pricing strategies. 

ERP systems, on the other hand, map the final cost of manufactured products by accounting cost of raw materials, R&D costs, insurance costs, customer incentives, etc. It helps determine profitability. This is possible because they have multiple valuation methods that electronically capture expenses related to work in progress, overheads, labor, and ingredients. 

In general, pharmaceutical manufacturing creates no by-products. But in case they do, ERP systems consist of methods that capture these costs as well.

Conclusion

The Pharmaceutical industry in India is growing by leaps and bounds. To rise to higher levels, it requires the power of automation. ERP software for pharmaceutical manufacturing companies brings the power of automation that efficiently manages inventory and material management, sales and marketing, regulatory compliance, improves traceability, and provides exact product costs.  

At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

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 Reason why ERP Implementation failure are still high

Reading Time: 3 minutes

We just saw the top reasons that CRM Implementations fail. Here are the top 4 reasons that ERP Implementation failure is still high. ERP Implementation is process that must be executed properly with the top management of company being involved in every process right from purchasing the ERP along involving the head of IT Department and HOD of functional area of the company in demo and business plan. The people involved in the initial stages may have a different goal for the ERP Software than the people who are actually using it.

 

Sometimes, involving a lot of people may also hinder in the common goal, ideas, and thought process. Difference of opinion and communication gaps can be extremely detrimental to the ERP implementation in the company. All parties involved should realize that compromises have to be made.

 

Major causes of ERP Implementation failure:

 

  1. Wrong Modules selection. : Most ERP providers sell ERP in Module basis. Business Functionality of various department are separated on Modular basis. The ERP buyer should ask the vendor beforehand about the module that they need to procure. This will help them realize the core functions that are available in the ERP system. Due to lack of understanding of the functionality of modules, sometime wrong modules are selected by the company. E.g. for sole trading business where no approval level is required, Approval matrix or workflow implementation will cause pain.

 

  1. Wrong Requirement Gathering: Requirement gathering process are the foundation of implementation of any ERP system. In some cases the existing business process are not well communicated or explained by company to the ERP consultant and in most of the cases, the company themselves are not clear what sort of a solution do they want to implement. In such cases, changes will be done at each and every step and there will be a change in the scope and goals very often causing the delay in implementation. To get rid of such problems, it is required that the company study its internal environment clearly and study what kind of a software it requires and how much customization would they require. Not all enterprise resource planning systems are fit for a particular industry and a company. Some level of customization is required which will tend to increase the cost of the whole project. Internal evaluation is hence, required to reduce the customization as much as possible and still have a robust system.
  1. Wrong Training Method: All end users of the ERP software should be well trained. What the company usually overlooks is the kind of training that is being provided to the staff and the whole process. Keen eye over the training methodology is suggested. The company should make sure that when they purchase the ERP software, the training methodology and duration is also decided with it. By the end of the training, the staff should have a sound knowledge of Masters, data entries and report functionally of the ERP system. They should also know their business process before working on ERP. The training should be provided vendor as per company’s business process and not on generic basis. Employee should be made aware of all the implications of their action in the ERP System.
  1. Negative employee attitude: Employee attitude is also one of the major part in the whole ERP Implementation activity. Negative attitude of the employees can cause failure in the whole ERP implementation process. Employees may have a negative attitude towards the automation process of ERP system as they may feel there is a possibility of them losing their job.

Top management must be strongly support to ERP project with a positive attitude throughout the whole process assuring the employees that ERP software is being implemented to make processes stronger and effective.

 

To know more about how can you have a smooth ERP Implementation in your premise, SMS SAGE to 56767. You can also write to Sage Software Solutions Pvt Ltd at sales@sagesoftware.co.in

 

The AI Revolution in Finance Sector

Reading Time: 6 minutes

The AI Revolution in Finance Sector

Automation has made a significant impact in every field, from news and sports to customer service and trading. It is revolutionizing the way we interact with others and conduct business. 

Automation enables companies to gather, analyze, and share business-critical information with all stakeholders instantly without any human intervention. It ensures that all processes are done as per the set parameters and within the specified time. 

Artificial Intelligence (AI) has been making drastic steps in allowing businesses to manage their resources, employees, and clients correctly. AI has taken control of trivial jobs and has made many tedious tasks simple. 

Technology has made it possible for start-ups to conduct business at super fast speed and without heavily investing in infrastructure. Developments in AI, machine learning, and data analytics allow companies to collect data instantly, find patterns, and build actionable reports

As hi-tech devices gain more processing power and become cheaper, the digital infrastructure is becoming more robust. It is significantly increasing the potential of the workforce and minimizing human errors. 

This article will shed light on how AI is making remarkable strides in the finance sector.

The AI revolution in the finance sector is no longer a myth. It is helping companies register massive profits and also allowing them to deliver customer service par excellence. 

The following are the few benefits of AI in the finance sector:

  1. It provides rich reports full of statistics, facts, and figures.
  2. It allows companies to gain a 360-degree perspective of their customers.
  3. It enables businesses to transform quickly according to the changing financial landscape.
  4. It permits various organizational departments to work as a cohesive unit.
  5. It executes trivial jobs instantly without any human intervention.

One of the crucial aspects of any finance company is to handle customer complaints quickly. Sage CRM is a leading product that comes with a built-in chatbot. 


Don’t Miss: Review Your Customer Service Operations With Sage CRM

The chatbot gathers trivial information — customer name, problem statement — instantly, allowing its human counterparts to focus on other important matters. If the solution to the customer’s query already exists, it sends a step-by-step procedural answer or provides a link to the same. Only if the question is new and the solution isn’t available in the repository, it forwards the query to the support team.

The AI revolution is impacting the finance sector as never before. It is opening new dimensions and enabling companies to make forecasts that weren’t possible until a few years back. 

The following are the use cases of how the AI revolution is impacting the finance sector:

1. It maximizes the use of resources

Earlier, companies didn’t have a fool-proof system of measuring resource utilization. The manufacturing process was controlled through hand-written checklists or basic software programs. This system introduced numerous human-errors that caused massive damage to the products and the reputation of the company

But the new AI-driven processes minimize human intervention and eliminate errors. It also takes control of other operating functions. For example, Sage ERP for financial services analyzes which customers need instant attention and routes them to the support team. This procedure allows the company to prioritize its resources and efforts over irate customers and patch-up any wrinkles in the relationship fabric.

2. AI algorithms unlock hidden values

In the digital era, businesses are finding new ways of gaining access to customer data. It is rightly said that data is the new oil because it enables companies to know the ins and outs of their customers. Data allows brainstorming strategies, forecasting future trends, and providing world-class after-sales service to your clients

Thus, data allows you to build a strong and long-lasting relationship with your existing clientele and helps expand your customer base. 

With advancements in technology, AI algorithms take over repetitive tasks that take away a significant share of an employee’s time. These tasks include gathering customer data, filing forms, sending messages and notifications, matching data records, and resolving exceptions. 

AI algorithms can handle the following accurately and in a better way than their human counterparts:

  1. They create a list of parameters and spot deviations. 
  2. Natural Language Processing enables machines to communicate with humans naturally. 
  3. They enable employees to write text with the help of sound. 
  4. They interpret textual information, do a 360-degree analysis of the same, and build actionable reports.
  5. They detect objects and human faces exceptionally well. 
  6. They detect patterns that are oblivious to the human eye.

Don’t miss: Role of AI Guided Content in Predictive Analysis

3. AI improves efficiency and cuts costs through innovation

AI is revolutionizing the finance sector through innovation. One such innovation is Robotic Process Automation (RPA). It is a virtual worker that replaces a human and conducts operations at superfast speeds. It also increases efficiency, minimizes human error and reports suggest that they can decrease operational costs by 25%-50%. 

RPA is a boon for the finance sector as it takes complete control of data-intensive and repetitive tasks. This process allows employees to work on things that require human ingenuity, intellect, creativity, and a thorough understanding of organizational culture. 

AI algorithms can also extract vital information from agreements and present them in an easy-to-read format. Moreover, they can also create smart contracts that can be edited/updated according to all the participating parties’ will. 

4. AI is revolutionizing the way people invest and trade

The stock market is dynamic and ever-changing. It has the potential to transform a pauper into a king and vice-versa. But with the change in the international business and political environment, it has become more uncertain than ever. Since the onslaught of the COVID-19 pandemic, the markets are in a roller coaster ride. Millions of people globally have lost billions of dollars.

AI-powered algorithms and high-speed processing abilities provide much-needed relief. They possess the capacity to interpret both — structured (databases and spreadsheets) and unstructured (social media) data. They can correctly estimate which stocks will outperform and which will underperform. 

Data-driven investments did a business of more than a trillion dollars in 2018 alone. High-frequency trading or algorithmic trading is picking the pace because of the benefits AI provides. 

5. AI helps detect online frauds

Wrong rejection of an authorized transaction is one of the many reasons for massive losses to retailers. Fraudulent activities on credit cards have been on the rise since online shopping portals have opened in huge numbers.

AI and ML technologies show ways of curbing online threats. They keep track of an array of factors, including the customer’s past purchases and buying behavior. They immediately alert the customer and block their credit card if they detect unusual behavior.  

The troubleshooting algorithms take the necessary action and create reports so that analysts, consumers, and the security team can work together to reach a workable solution. 

6. AI makes the loan disbursal process easy and straightforward

Loan disbursal is a long and tedious process. It takes immense time and effort for the bank to decide the eligible candidates out of a long list of applicants. The following are some of the factors that banks have to check before giving loan:

  1. Age
  2. Work experience
  3. Income
  4. Spouse’s income
  5. Occupation
  6. Credit history
  7. Repayment period

Even after thoroughly checking the candidate’s financial condition, there are chances that they might fail to repay the loan.

AI algorithms employ rigorous data analysis techniques to estimate the loan repayment capacity of the candidate. It considers multiple data points that enable the loan managers to reach a logical conclusion rather than making a hasty decision. 

Another critical point is that banks are now focusing on remote banking applications. These apps make it easier for customers to transfer funds and conduct other banking operations without visiting the branch office. AI and ML algorithms are using this opportunity to access smartphone data to judge whether the candidate is suitable for receiving the loan or not. 


Don’t Miss: Covid-19 Impact on Finance Sector

7. AI is becoming the backbone of personalized banking

We are living in times where companies are finding ways to provide top-notch personalized customer experience. For example, Starbucks remembers your favorite coffee and serves you the same, whether in Mumbai or New York. 

Similarly, banks are keen on providing personalized banking services that suit the taste of the individual customer. AI and ML algorithms provide the foundation for building chatbots that provide self-help solutions to customers. This step allows their human counterparts to focus on other business-critical issues that require human ingenuity.

Conclusion

AI, ML, Data Analytics, and many other technologies are revolutionizing how the finance sector operates globally. They are:

  • Letting the sales teams explore their hidden potential and make better sales.
  • Allowing support teams to provide better service experience to customers.
  • Supporting risk managers to ascertain the repaying capacity of candidates.

Financial organizations may face a few barriers while implementing AI solutions. But they have to be bold enough to accept the challenges and move forward. New age AI solutions may be a little expensive but are a good investment for the future.

Are you searching for marketing automation software such as ERP and CRM systems to plan your resources efficiently and better deal with your customers? We can help you. At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in.

 

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.

From Linear to The Cyclonic Customer Buying Journey – Here’s what you need to know!

Reading Time: 7 minutes

The Cyclonic Customer Buying Journey

Today, when each one of us has access to buy anything from anywhere and at any time, companies are finding ways to highlight their products and services and reaching the right audience. The digital boom has transformed the customer buying journey process. It has shrunken the process by modifying or eliminating various stages that existed otherwise. For example, customers no longer want to stand in long queues. Instead, they can order things online and pay a meager shipping fee.

Secondly, in a price-sensitive economy, such as India, discounts and coupons play a crucial role. Online retailers like food parlors and garment manufacturers regularly come up with various schemes and coupon codes to entice customers. Such programs positively impact revenue growth, increase customer loyalty, and spread good word-of-mouth.

Marketers and data analysts always study changing customer behavior to unravel the hidden secrets of the customer buying journey. They try finding ways of entering and fixing their place along the buying trajectory of customers. They try anticipating the customer’s next move and formulate strategies accordingly.

The customer buying journey has recently undergone a massive change. Until a few years ago, companies followed customers along their buying journeys and were employing tactics to gain their attention. But with the arrival of advanced technologies, better organizational structures, developed sales funnel stages, and competent marketers, companies, have seen success in restoring the balance of power. Today, they manage customer buying journeys, which has become central to a customer’s experience of a brand.

The following example of Sungevity, a solar power provider, will help you understand how companies can effectively manage the customer buying journey. This Oakland based company measures the solar energy requirement of residential homes and manages the end-to-end process of sales and custom installation — including finance, supply, installation, and servicing the panels. The customer buying journey is entirely digital. The company has top-notch customer relationship management personnel that do an excellent job of building and retaining clients.


Don’t miss: 5 Most Important Stages of a Customer Life Cycle

The customer buying journey of Sungevity starts with an email that tells you how much you can save on energy costs with solar panels. It also provides a Google Earth image of your house with solar panels atop the roof. Then, it does energy-to-cost calculations by computing the presence of trees in your area, your rooftop angle, and the amount of sunlight that falls on the roof.

The sales funnel stages of the company are fully digital. While the prospect is on the website, they can connect with a live sales rep at the click of a button. Sales reps are experts who provide useful information about solar panel installations and encourage the prospect to go through the buying journey. They send contact details of their existing users who act as references. It allows prospects to receive first-hand customer reviews that lower their risk and builds trust in the brand. The sales reps also explain the economics of buying versus leasing in detail and tell what will suit the customer according to their needs. Later, the customer receives video links that show how the installation is done.

When the prospect returns to the website after checking the references, the sales rep knows in what sales funnel stage the prospect currently is. The sales rep immediately tailors a contract, emails it to the prospect, and helps them walk through it. This new Sungevity customer receives daily updates on their energy conservation and savings.

One may wonder how is Sungevity growing at an extraordinarily high rate? In 2014, the company broke its sales targets by registering a revenue growth of more than $65 billion. It happened because Sungevity made the customer buying journey very easy — by delivering only one brand, streamlining the evaluation phase, and imparting world-class customer relationship management training to their team.


Don’t miss: Optimize your Sales Funnel with CRM


In the digital age, we live in, consumers first consider a product, then purchase it, and finally develop a bond with it. And this is entirely valid for every product, right from expensive ones like an Apple laptop to daily-use products such as a body lotion. Sophisticated companies are finding ways to optimize individual touchpoints in the customer buying journey. In some cases, they are reinventing the wheel. They are moving from being reactive to being proactive by identifying customer’s pain points and fixing them.

Gone are the days when companies used coercive strategies to keep customers. Today, companies focus more on designing customized experiences that customers find irresistible. They are permanently engaged because they gain value out of the journey itself.

As explained above, companies are reinventing the customer buying journey. There are four key features of this transformation: digitization, individual customer journey, interacting as per the context, and journey innovation. These capabilities allow companies to draw in more customers effectively. Let’s study them one by one.

Digitization

The first step is digitization. It refers to automatizing manual processes to make them fast and efficient. If customers can complete operations at the click of a button without having to move out of their house, consider how robust and dynamic the customer buying journey will become. It will exponentially increase customer satisfaction and thereby improve customer loyalty.

Let’s understand this with the help of an example. Imagine a bank that launches an app that allows customers to deposit checks by scanning and uploading the pictures without having to visit the bank premises? Or if a retailer enables customers to buy garments through AR (Augmented Reality), MR (Mixed Reality), and VR (Virtual Reality) technologies where they can try the garments from their home without visiting the brick and mortar store? Even governments can significantly benefit from digitization by enabling public welfare schemes such as better infrastructure planning and inclusiveness in financial dealings.


Don’t miss: Experience Digitization through Enterprise Technology

Individual Customer Journey

Every customer is different. They have varying needs, wants, and buying behavior. Companies need to keep a tab on each customer’s buying journey to devise personalized marketing strategies. They can do this in two ways. First, by gathering information from the events attended, activities performed, and actions taken by the customer in the past. And second, by forecasting the customer’s next move. This is where CRM software enters the picture. It collects customer data from various touch points, including call and browsing history, emails, social media, customer reviews, product usage, etc.

Then it prepares customer profiles that can be edited/updated at any time and from any place. Upon careful analysis of the profile, the CRM software algorithms suggest what action the customer might take in the near future. It keeps a vigilant eye upon the sales funnel stages and allows companies to influence the customer buying journey.

Interacting as per the context

This step is crucial because it enables the company to know where the customer currently lies in the customer buying journey and how to draw them towards the next interaction the company wants them to pursue. This process is executed in two ways, first, through physical means such as visiting the retail store. Second, through online methods such as reading product reviews. For example, airline apps can send boarding passes to fliers as soon as they enter the airport. Or online retail stores like Amazon can show past purchase invoices or current delivery status when the customer lands on its website.

Another example can be seen in the hotel industry that is using apps in more ways than one. Customers receive room numbers on their apps when they enter the hotel’s premises. Also, the check-in process has been simplified as customers can provide thumbprints through the app itself. Further, upon reaching their room, the app turns the customer’s smartphone into a virtual key that unlocks the door. Moreover, the app delivers personalized recommendations and alerts for dining and entertainment. Such steps have made the customer’s life easy and have resulted in exponential revenue growth for the hotel industry.


Don’t miss: Fill your Sales Funnel with Qualified Leads

Journey innovation

This step focuses on discovering new avenues of the relationship between the customer and the company. It requires analysis of existing pain points and constant innovation to spot opportunities and act for both parties.

One of the significant components of journey innovation is A/B testing. Marketers and data analysts prepare alternate versions of the same message copy and send it to varying customers. They keenly observe their responses and categorize them accordingly. Once they know what strategy is effective on a particular set of customers, they use it for executing distinct marketing strategies. This step enables companies to put different features into the existing customer buying journey and improve it further.

Consider the following example to understand this effectively. Online retail store Amazon has successfully partnered with local brick and mortar retail stores such as Big Bazaar for delivering food staples to people. Customers can order vegetables and fruits from Big Bazaar through the Amazon app and get it delivered on their door-step within 2 hours. Customers can edit/update their orders and ask for speedy delivery by paying a small extra fee. This example illustrates how two companies can work together to make the customer buying journey more beneficial for all the parties involved.

Role of CRM software

With the arrival of digital tools, the customer buying journey is undergoing a massive transformation. Unlike previous generations, today’s customers are more aware, understand the value of time, and are too specific about their needs and wants. If companies don’t deliver on both these fronts, they are destined to lose customers to their competitors.

CRM software comes as a rescue. It provides instant access to customer-specific information, thereby speeding up tasks and enabling marketers to make decisions based on data. Such decisions provide pin-point solutions to the customer’s specific challenges allowing companies to take control of the customer buying journey, thereby increasing their revenue growth.


Don’t miss: Here’s What People Are Saying about Marketing Automation

Further, CRM software also manages the sales funnel stages — awareness, consideration, and decision — effectively. It collects customer feedback from different touchpoints and gives automatic replies to trivial questions through its chatbot feature.

 

Are you searching for a marketing automation software —such as a CRM system — to better deal with your customers? We can help you. At Sage Software Solutions (P) Ltd., we are home to world-class CRM software that will solidify your business tech support fundamentals and help you build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in.

 

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.

 

The Cyclonic Customer Buying Journey

Reading Time: 9 minutes

The Cyclonic Buying Journey

  1. Pre-Awareness
  2. Awareness
  3. Education
  4. Consideration
  5. Evaluation
  6. Rationalization
  7. Decision
  8. On-going Delivery

Today, when each one of us has access to buy anything from anywhere and at any time, companies are finding ways to highlight their products and services and reach the right audience. The digital boom has transformed the customer buying journey process. It has shrunken the process by modifying or eliminating various stages that existed otherwise. For example, customers no longer want to stand in long queues. Instead, they can order things online and pay a meager shipping fee.

Secondly, in a price-sensitive economy, such as India, discounts and coupons play a crucial role. Online retailers like food parlors and garment manufacturers regularly come up with various schemes and coupon codes to entice customers. Such programs positively impact revenue growth, increase customer loyalty, and spread good word-of-mouth.

Marketers and data analysts always study changing customer behavior to unravel the hidden secrets of the customer buying journey. They try finding ways of entering and fixing their place along the buying trajectory of customers. They try anticipating the customer’s next move and formulate strategies accordingly.

The customer buying journey has recently undergone a massive change. A few years ago, companies followed customers along their buying journeys and were employing tactics to gain their attention. But with the arrival of advanced technologies, better organizational structures, developed sales funnel stages, and competent marketers, companies, have seen success in restoring the balance of power. Today, they manage customer buying journeys, which has become central to a customer’s experience of a brand.

The following example will help you understand how ERP systems simplify the customer buying journey and pave the way for easy collaboration between companies and customers.


Don’t miss: 5 Most Important Stages of a Customer Life Cycle

Suppose you are a prominent automobile company. You sell low budget and high budget cars. To manage thousands of transactions that happen regularly, you cannot depend on your workforce as it may introduce human errors. Also, your warehouse team cannot monitor the inventory levels at all times. Moreover, supplier/distributor/vendor management requires heavy monitoring and relationship management skills. Further, providing excellent post-purchase customer service to clients has become mandatory and requires a mix of well-trained personnel and technology.

This is where enterprise technologies — ERP and CRM systems — play a significant role. CRM system is a software bundle that stores customer information and updates it regularly. It trims long lists of customers and selects only a handful of those who have a higher probability of purchasing a car. This saves your sales reps time as they put effort into selling the cars to only those who have been selected by the software. CRM systems also prepare and update a long list of vendors and choose the best one based on attributes like purchasing price of cars, logistics costs involved, delivery time, etc.

Moreover, once a customer purchases your product, it’s essential to keep them in the loop. A CRM system enables the customer to get in touch with your support service team instantly and receive pin-point solutions to their problems. For example, if the electronic dashboard in the car isn’t working correctly, the support person can email a troubleshooting algorithm.

Next in the line is ERP software that manages the system’s financial, manufacturing, and operational parts. They monitor the warehouse 24/7, and when the inventory falls below the threshold level, they automatically place a purchase order with the vendor. When the manufacturing facility receives raw materials, the ERP system handles the manufacturing process. They also create smart contracts, invoices, Bills of Materials, and manage other financial activities as well.

The cyclonic buyer journey helps marketers connect with their customers at every stage regardless of the path they follow. Considering the entry point being flexible, the exit goal will always be conversion and retention in the cyclonic buyer journey.


—> Download Now: The 2020 CRM Guide to Success (Free E-book)

The Steps in Cyclonic Buyer Journey

1. Pre-awareness

In this stage, customers think that solutions to their specific challenges don’t exist.

2. Awareness

In this stage, customers start searching for potential answers online or offline (friends, family, relatives, peers, etc.) modes.

3. Education

After customers become aware of the existing solutions, they study them thoroughly. This step takes a long time because in the information age we live in, there is ample data about everything. To reduce potential risks, customers like to educate themselves before making the buying decision.

4. Consideration

In the fourth step of their buying journey, customers consider a few solutions from the many available in the market. This is where companies should step forward and help customers in making the right choice.

5. Evaluation

Customers have already done a lot of research. But most of that research has been done through the internet or third parties. This is when companies should have face-to-face conversations with customers and give detailed information about their capabilities, pricing, benefits, and features. Companies need to ensure that they stand out as the best service provider in the market.

6. Rationalization

If a customer has reached this stage, it means that he has emotionally made his mind to purchase your product. What he needs now is a logical explanation to rationalize his decision. So he may ask the following questions:

  • When can I expect to earn ROI?
  • How long will it take to deliver?
  • What is the guarantee/warranty period?
  • What are your payment terms?

7. Decision

Until the paperwork is done, nothing is final. Customers always want to bring the purchase cost down. It depends on how much leverage the company has on the market. If the company manufactures unique products, then it can decide the terms and conditions of the contract as per its will. But if its offerings are generic, then it has to bend down before the wishes of the customer.

8. Ongoing Delivery

The real business starts once the delivery is done. If your offerings create a delighted customer, they will spread good word-of-mouth and refer your services to their friends and families. Also, you will be able to cross-sell and up-sell other products to them quickly.


Don’t miss: Optimize your Sales Funnel with CRM

In the digital age, we live in, consumers first consider a product, then purchase it, and finally develop a bond with it. And this is entirely valid for every product, right from expensive ones like an Apple laptop to daily-use products such as a body lotion. Sophisticated companies are finding ways to optimize individual touchpoints in the customer buying journey. In some cases, they are reinventing the wheel. They are moving from being reactive to being proactive by identifying customer’s pain points and fixing them.

Gone are the days when companies used coercive strategies to keep customers. Today, companies focus more on designing customized experiences that customers find irresistible. They are permanently engaged because they gain value out of the journey itself. Tapping into the potential of your existing customer base, digital marketing has a vital role to play. To address buyers on the digital front, adopting the AARRR framework has a notable contribution.

As explained above, companies are reinventing the customer buying journey. This transformation has five key features: AARRR framework, digitization, individual customer journey, interacting as per the context, and journey innovation. These capabilities allow companies to draw in more customers effectively. Let’s study them one by one.


—> Download Now: The 2020 CRM Guide to Success (Free E-book)

Digitization

The first step is digitization. It refers to automatizing manual processes to make them fast and efficient. If customers can complete operations at the click of a button without having to move out of their house, consider how robust and dynamic the customer buying journey will become. It will exponentially increase customer satisfaction and thereby improve customer loyalty.

Let’s understand this with the help of an example. Imagine a bank that launches an app that allows customers to deposit checks by scanning and uploading the pictures without visiting the bank premises? Or if a retailer enables customers to buy garments through AR (Augmented Reality), MR (Mixed Reality), and VR (Virtual Reality) technologies where they can try the garments from their home without visiting the brick and mortar store? Even governments can significantly benefit from digitization by enabling public welfare schemes such as better infrastructure planning and inclusiveness in financial dealings.

CRM 2020 Guide

AARRR Framework

The acronym AARRR stands for Acquisition, Activation, Retention, Referral, and Revenue. It’s a unique framework that enables companies to build customer-specific resources according to user status. It also allows us to quickly check the performance of marketing campaigns and monitor the prospect to customer conversion percentage.

The following points list the resources as per the AARRR model:

1. Acquisition

PDFs, Ebooks, Whitepapers, Press Release, Blogs, Checklists, Group Participation

2. Activation

Product Demos, Free trials, RFPs, Webinars, Free Consultation

3. Retention

Coupon Codes, E mailers, Discount/Offers

4. Referral

Contests, Word-of-Mouth

5. Revenue

Recovery, Proforma invoices


Don’t miss: Experience Digitization through Enterprise Technology

Individual Customer Journey

Every customer is different. They have varying needs, wants, and buying behavior. Companies need to keep a tab on each customer’s buying journey to devise personalized marketing strategies. They can do this in two ways. First, by gathering information from the events attended, activities performed, and actions taken by the customer in the past. And second, by forecasting the customer’s next move. This is where CRM software enters the picture. It collects customer data from various touch points, including call and browsing history, emails, social media, customer reviews, product usage, etc.

Then it prepares customer profiles that can be edited/updated at any time and from any place. Upon careful analysis of the profile, the CRM software algorithms suggest what action the customer might take in the near future. It keeps a vigilant eye upon the sales funnel stages and allows companies to influence the customer buying journey.

Interacting as per the context

This step is crucial because it enables the company to know where the customer currently lies in the customer buying journey and how to draw them towards the next interaction the company wants them to pursue. This process is executed in two ways, first, through physical means such as visiting the retail store. Second, through online methods such as reading product reviews. For example, airline apps can send boarding passes to fliers as soon as they enter the airport. Or online retail stores like Amazon can show past purchase invoices or current delivery status when the customer lands on its website.

Another example can be seen in the hotel industry that is using apps in more ways than one. Customers receive room numbers on their apps when they enter the hotel’s premises. Also, the check-in process has been simplified as customers can provide thumbprints through the app itself. Further, upon reaching their room, the app turns the customer’s smartphone into a virtual key that unlocks the door. Moreover, the app delivers personalized recommendations and alerts for dining and entertainment. Such steps have made the customer’s life easy and have resulted in exponential revenue growth for the hotel industry.


Don’t miss: Fill your Sales Funnel with Qualified Leads

Journey Innovation

This step focuses on discovering new avenues of the relationship between the customer and the company. It requires analysis of existing pain points and constant innovation to spot opportunities and act for both parties.

One of the significant components of journey innovation is A/B testing. Marketers and data analysts prepare alternate versions of the same message copy and send it to varying customers. They keenly observe their responses and categorize them accordingly. Once they know what strategy is effective on a particular set of customers, they use it for executing distinct marketing strategies. This step enables companies to put different features into the existing customer buying journey and improve it further.

Consider the following example to understand this effectively. Online retail store Amazon has successfully partnered with local brick and mortar retail stores such as Big Bazaar for delivering food staples to people. Customers can order vegetables and fruits from Big Bazaar through the Amazon app and get it delivered on their door-step within 2 hours. Customers can edit/update their orders and ask for speedy delivery by paying a small extra fee. This example illustrates how two companies can work together to make the customer buying journey more beneficial for all the parties involved.

Role of CRM software

With the arrival of digital tools, the customer buying journey is undergoing a massive transformation. Unlike previous generations, today’s customers are more aware, understand the value of time, and are too specific about their needs and wants. If companies don’t deliver on both these fronts, they are destined to lose customers to their competitors.

CRM software comes as a rescue. It provides instant access to customer-specific information, thereby speeding up tasks and enabling marketers to make decisions based on data. Such decisions provide pin-point solutions to the customer’s specific challenges allowing companies to take control of the customer buying journey, thereby increasing their revenue growth.


Don’t miss: Here’s What People Are Saying About Marketing Automation

Further, CRM software also manages the sales funnel stages — awareness, consideration, and decision — effectively. It collects customer feedback from different touch points and gives automatic replies to trivial questions through its chat bot feature.

 

Are you searching for a marketing automation software —such as a CRM system — to better deal with your customers? We can help you. At Sage Software Solutions (P) Ltd., we are home to world-class CRM software that will solidify your business tech support fundamentals and help you build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in

 

CRM 2020 Guide

 

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.

Widgets in Sage 300cloud

Reading Time: 4 minutes

What is a Widget?

A software widget is a relatively simple and easy-to-use software application or component made for one or more different software platforms. Widgets work with the real-time website data.

The main purpose of a widget is to display often used functions that the user can trigger right from the home screen without having to open the app or any of the screens first

If we take an example where we want to quickly view the statistics of Accounts with respect to balances or the Top 5 Customers regarding to Billing, you do not need to run various reports and selecting the criteria, etc. Here the widget gives you a quick overview with the Customer name and the amount which will be sufficient quick data.

Widgets in Sage 300cloud

In Sage 300cloud there are multiple types of widgets which can be used to view information efficiently in quick response time. These widgets not only show balances but also statistics of a salesperson or the history of items which contains the unit and cost both as part of the data.

Using widgets in Sage 300cloud not only saves time but is also user friendly along with simplified data that is displayed. These widgets are proven to be very useful at time of presentation as it gives an overview of the ERP without extracting multiple reports and then sorting them accordingly.

There are various types in which the data is displayed in widgets, for ex. for data related to inventory items pie chart is used, for salesperson statistics bar graph is used and for comparison between Income and Expense clustered column graph is used, again it saves manual work to extract reports and sorting and arranging the data.

Adding a widget in Sage 300cloud

Adding a widget is not a very complicated process. In Sage 300cloud after your login in the company, there is an option on the right top corner called as ‘Add Widget’ which helps you to select the widget you need and displays on the home page.

Refer below image

Widgets in Sage 300cloud

When selected, we get various widget options based on the modules used and we can select the required from the list as per our need.

Widgets in Sage 300cloud

We can also add the widgets from ‘View Widgets’ option. Both options shows the same type & list of options related to widgets.

Once you click on ‘Add Widgets’ or ‘View Widgets’, a list of widgets appears where you can choose what all information/statistics are required at the home page.

Widgets in Sage 300cloud

You can view up to 6 widgets on the home page. In order to remove a widget from the home screen, you just have to unselect the widgets from the ‘Add Widget’ drop down.

The main benefit of the widgets in Sage300cloud is that we can edit the widgets according to our requirement.

Editing a widget in Sage 300cloud

To edit a widget, click on the 3 horizontal line icon on the top right corner to get 3-4 options based the widget properties. Here, we can edit/rename the widget title as required and save the changes.

Widgets in Sage 300cloud

Title Edit:-

Widgets in Sage 300cloud

We can do the same for the data that need to be displayed with respect to our needs.

Click on ‘Edit Setting’ option and a page opens with the selectin criteria of the data. For ex, if we edit the Account Balance widget we get the option to select the fiscal period and the GL Accounts.

The widget displays 5 accounts that is to be viewed. Select the appropriate fiscal year and GL accounts and save the changes to view the account balance information in the home page.

Widgets in Sage 300cloud

The remaining options are ‘Refresh’ and ‘Close’

‘Refresh’ option is used to display the updated balances as Sage300cloud displays the data on real time basis. ‘Close’ option helps remove the widget from the home screen.

In simple words these widgets have been proven to be user friendly and quick response time with respect to extract the data to be reviewed.

The widgets also save a lot of time and excel work if we want to compare different types of data from multiple reports and the report which is displayed comes in various forms depending on the module.

 

For more details on Sage 300cloud features and functionalities for business growth, visit our website or write to us at sales@sagesoftware.co.in. You can also check out industry-specific ERP and CRM solutions here.