At what stage do SME’s need an ERP system?

A commonly held perception is that ERP(Enterprise Resource Planning) tools are best suited for large-scale industries due to high cost of ownership, complexity of implementation and subsequent maintenance costs. But, in the last decade, there has been a noticeable rise in the number of SMEs willing to take on this technology and make it an integral part of their businesses.

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The right resources – or lack thereof – can mean the difference between survival and dissolution for a small enterprise. Globalization has led to the advent of disruptive technologies that SMEs need to harness to scale or even stay afloat.

As organizations pass through this transitional phase, they should be able to alter core business capabilities that will generate increased revenue opportunities. And ERP(Enterprise Resource Planning) software provides the flexibility needed to make this shift.

SMEs need to invest in technology to achieve success in the digital economy and seamlessly integrate processes across the organization this will help them take complexities out of the business and focus on growth.

We firmly believe that SMEs need to invest in ERP to benefit from built-in analytics, rapid deployment, and best practices for different business processes, including financials, production, HR, procurement and supply chain management.

Below are some of the ERP tools that can able to automate key processes and free up more time to focus on innovative growth opportunities. This clearly demonstrates how ERP can help solve issues at multiple stages.

Benefits of using ERP
SMEs hold in them the potential to be the next big enterprise and ERP systems can help them create innovative growth. Regardless of the industry or business size, real-time ERP software can help connect people, devices and networks – and create a digital core for implementing new technologies.

Here are some enlisted key benefits of next-generation ERP software:

1. Industry best practices: A systematic approach is adopted to accelerate the ERP solution implementation with minimal risk. The service packages simplify each implementation phase to achieve resilient, sustainable and flexible solutions for SMEs quickly.
2. Immediate: Empowers business users with live information from across operations, enabling business leaders to act in the moment and respond quickly to changing conditions.
3. Intelligent: ERP enables organizations to move beyond automation to contextual, role-based suggestion and autonomy, to improve productivity and support informed decision-making.
4. Integrated: The ERP solution connects workflows across every part of the enterprise and the entire value chain to increase productivity, improve collaboration, and drive innovation.

How to choose the right ERP software for your business
Knowing the organization’s exact requirement is crucial in selecting ERP. Being able to prioritize on the critical features will help SMEs adopt, implement and evolve with ERP faster.

Companies simply need to answer five simple questions to pick the right ERP. These are related to: Employee size, Industry, Deployment Option, Business Complexity and Expected Employee Growth.

These parameters should help SMEs realize their own requirements while selecting the right solution.

SMEs should look out for the following features while choosing an ERP solution:

1. One that covers all business functions and provides industry best practices: When a software provides industry best practices and complete coordination among the various functions of the business, it provides the management with the ability to quickly deploy the platform, get real-time analytics and business intelligence for complete visibility.

Once all the major functions in an organization are interconnected and on the one single platform, it creates an ease of operation, removing unnecessary complexities.

2. Ensure it can grow with you: It is extremely important that the ERP software suite is a completely scalable solution leveraging the benefits of a SaaS ERP. If the organization adds a new subsidiary or acquires new entities, the suite should be able to easily incorporate them and integrate office & warehouses across the globe.

Also, establishing a digital core can help connect the enterprise with people, business networks as well as next-generation technologies such as the IoT, Big Data, machine learning, artificial intelligence and more.

3. Should be available anytime, anywhere: In current times, when work flexibility and accessibility is of utmost necessity, it becomes equally important that the ERP software used can cater to this need.

4. Look for experienced partner ecosystem for rapid deployment: The ERP solutions should be supported by a mature partner ecosystem that can help SMEs identify, buy, build, implement, service, support and run the solutions that best fits the organization’s unique needs. Also, they should seek industry based Rapid Deployment Packages that are built, sold and supported by the partners.

Such integrated solutions leverage the core ERP software and innovations, together with the partner’s intellectual property, such as industry or line of business expertise, specialised services, customisations, configurations or applications. These resulting solutions offer rapid time to value, low risk with high predictability at attractive price points

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Why do you need an Accounting Software?

why-do-you-need-an-accounting-software

The main beauty of an accounting system is reporting features which they bundled with, a software with poor reporting system will fail in the market, so that a perfect accounting software should have proper accounting maintenance system and reporting facilities.

One of the main importance of accounting software is to maintain the records of all accounting and financial functions systematically and it is also used to summarise, measure, compare and verify financial data based on the old entries. On the other hand, accounting software is being evaluated by its technology, it needs to be cutting edge and user-friendly that can drive your software to run very fast, smooth and more accurate way.

Why you need accounting software?

Every success has a reason behind it. The success of a company is depending on how efficient the company is using technology. On this way, the process of choosing a right accounting software needs to be carried out in an expert way, choosing a Software with poor technology or poor facilities will lead your business to disaster, a right accounting software will reduce your work load, reduce operation’s cost and man power cost, more over a perfect accounting system can do some important works more faster han human and it is also produce more accurate and error free financial reporting system.

When you are in mid level or large company where you can’t handle accounting by manual paper work which will not be more accurate and more efficient for your business any more. when your business is growing to a next level, you need to be equipped with an automatic accounting management system that can do your work more fasted and it will also save time, tons of money for your business

When you are selecting an accounting software for your business, you need to be careful about the following features present in your software or not.

Account Payable Management:

Account payable feature is more important to any accounting software which needs to carry out all functions of accounting receivable management. This software should have the facilities to manage vendors records, check printing, payment calculations, payment scheduling, purchase order maintenance and account payable entries.

Account Receivable Management:

Account receivable is also one of the important features that all accounting system should packed with. Accounting receivable including the client accounts management, invoicing, AR reporting, billing, sales attributions, cost of the goods, recurring invoices, tax calculation, credit payment, receipt, quotations, estimation facilities, email invoicing, return orders and credit management.

Budget Management:

This feature will help the business to create budgets and forecasting report in more accurate way. Accounting software should comprise of the following budgeting features

  1. Scenario
  2. Versioning & Approvals
  3. Sales Forecasting
  4. Actual Variance Reporting
  5. Budget Reporting

Cash Management:

Case management is the most important functions in accounting, the software can management the cash flow more accurately, It should capable of maintain, store and product cash flow and fund flow statements. The software should also have facilities to do cash flow analysis.

Other Features:

Fixed asset management

General Ledger and Financial Reporting management

Inventory Management

Job Costing

Payroll Management Facilities

Purchase Management

Audit Trial

Take Your Decision Now:

The success of a company growth is depending on how you are attached with new technology, choosing a right accounting software for your business will boost your business to a next level. This is the time to decide whether you are continue with the manual paper work or to be equipped with highly advanced accounting system.

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8 reasons to move from Quickbooks to Sage 100 ERP

While your QuickBooks accounting system may have served you well in the beginning, things have changed. You have more human resources, more capital resources, more customers, and more complexity across your business. At this point, those spreadsheets, hand-written notes, and other workarounds you’ve started using to make up for a lack of functionality in your QuickBooks system just won’t work anymore. It’s time to consider a move to a system that is better equipped to deal with your business as it is today and as it could be in the future. If you’re on the fence as to whether or not it’s time to upgrade from QuickBooks to a more powerful system, you might want to read this article that discusses the indicators that the time has come. If you already know the time has come, Sage 100 ERP may be the perfect fit; and here’s why:

  1. Deeper insight for better, faster decision making:

    Sage 100 ERP features at-a-glance dashboards and has powerful, customizable reporting and analytics which gives you the ability to drill-down into the details that matter when it comes to managing your business. With this information readily available, you can make faster decisions, stay on budget, and identify new revenue and profit opportunities to take your business to the next level.

  2. Confidence in your accounting:

    Unlike QuickBooksSage 100 ERP was designed to handle the complex accounting needs of growing businesses. By eliminating spreadsheets and other archaic practices, you will have a far more accurate view of your company’s finances, confidence in the face of an audit, and the tools you need to accelerate financial close.

  3. Sage 100 ERP leaves room for the future:

    You’re growing so who know where you could be three, five, or ten years from now. Sage 100 ERP can grow with you and easily expands to suit needs as they arise. The modular design of Sage 100 allows companies to choose the functionality that best suits their business needs now and as your needs change, you can quickly add users and modules.

  4. Simple migration:

    Your switch from QuickBooks to Sage 100 ERP will be relatively hassle free with minimum disruptions. Lightcubes LLC recently underwent a migration from QuickBooks to Sage 100 ERP and reported, “We were ecstatic that data on our 2,000-plus customers converted seamlessly, as did all of our open invoices. We’d feared a horrendous upgrade process, and instead found it was relatively painless.”

  5. Finally work the way you want to:

    Sage 100 ERP has flexibility that allows user-level personalization and role-based dashboards so you have instant access to the information you want and need to be at your best.

  6. It’s easy to use:

    Making the move from QuickBooks to Sage 100 ERP can be scary. After all, a larger system means a more complex one, right? Not when it comes to user experiences. Yes, Sage 100 ERP is more complex under the surface to help you manage your more complex business needs, but it is not more complex to use. Unlike other ERO systems, Sage 100 has an intuitive, user-centered design so you can focus on your work, not on figuring out the software.

  7. Increased visibility and tracking:

    With Sage 100 ERP you will be able to see more than financial information, you can see up-to-the minute information across your organization; from financial to shop-floor and everything in between. You’ll be able to track inventory in a single or multiple locations.

  8. Streamline the back office with integration and automation:

    Stop wasting time and money on manual data entry and other non-value added manual processes. Seamless integration between CRM, ecommerce, and financials allows you to eliminate data entry errors and operate an end-to-end business system, automating and integrating everything from accounts receivable management to payroll, sales orders, and everything in between.

Need more convincing that will help you get the most out of your business?

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Everything you should know about Sage 300

everything-you-should-know-about-sage-300

Everything you should know about Sage 300 ERP

Everything you need to know about Sage 300

To stay competitive in today’s global economy, you need more than simple financial accountability and compliance. Sage 300 contains the power and tools to help you see your business in a new way so you can improve productivity, envision success, and accelerate growth. It’s time to turn your business dreams into reality with the real-time visibility, collaboration, agility, and innovation you need to succeed. Sage 300 is the best fit for companies with 5 to 250 or more users, in general to advanced accounting needs. It is noted for its strong distribution and industrial capabilities. It is also easily scalable, able to expand rapidly with a fast-growing business.

Sage 300 ERP system uses a concurrent user license approach versus named licenses, which earn that user licenses are purchased based on the number of users who require access at one time. This can take a big difference in keeping the solution cost-effective in a distribution environment, where multiple users might be using a single workstation, as you’re essentially paying per station, rather than per user.

Sage 300 supports business processes related to financials, inventory, projects, payments, customer management, and more. It can support multicurrency and multiple languages needs of companies with an international presence, as well as the operation of multiple companies, business units, and subsidiaries.

Functionality that is specific to distribution includes quick look-up of inventory statistics and inquiries, a fully integrated sales order/shipment/invoice process available from the customer screen, and the ability to generate a purchase order from a sales order or when inventory levels are low. Seasonal and location-based automatic reordering is also available.

The inventory module can support as many as eight costs per location, including standard, average, LIFO, FIFO, most recent, serial, and lot costing methods. Users can drill down into inventory information easily from any screen, including the ability to view quantities on purchase orders and sales orders. GL batches can be created automatically or as part of day-end processing, allowing you to control how and when large-batch processing takes place.

Users can manage and enter reorder quantities by date, as well as enter active, standing, future, and blanket purchase orders, generate multilevel Bills of materials, r manage vendor and customer details for each inventory item. Multiple price lists are supported, including by customer type, payment method, region, or currency.

Customize and Personalize

Build your system to fit the demands of your business. Not the other way around.
Be the boss of your ERP system with customized, personalized software designed to meet your unique business requirements. Sage 300 was built to deliver customized ERP design and capabilities without the cost or headaches of traditional customization. From on-site or cloud computing through Sage 300 Online to business-specific details to ongoing expansion, count on Sage 300 to integrate with your operating systems and databases and easily accommodate upgrades, product enhancements, and new releases—and avoid incurring additional costs.

Effortlessly customize your user interface with optional fields
Sage 300 is easy to set up and use, with intuitive wizards and a familiar interface that makes configuration and navigation a breeze. Fulfill unique tracking and reporting requirements with the ability to add optional fields and capabilities. Define unlimited text, amount, date, time, integer, number and yes/no optional fields for use in all Sage 300 applications.

Expand easily in the future
In addition to Multilanguage, multicurrency, and multi-company capabilities, Sage 300 provides extended flexibility as your company grows. Multitier, scalable architecture allows 250+ concurrent users, as well as extensive customization capabilities, an integrated development environment, and multi-OS/databases. Add functionality when you need to by adding modules or new user licenses– even moving to a larger edition smoothly when you’re ready.

Personalize to suit individual user needs
Numerous configuration options and built-in personalization capabilities allow individual users to streamline navigation, reporting, and information access, improve productivity and reduce data entry errors.

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