E-Commerce and ERP integration: How it can benefit you?

If you are the owner of an ecommerce business, then you will already have fair idea of what goes into the accounting and inventory processes. This involves a lot of information updates, entry and exit of inventory and handling of credits and payments. You most probably also have a team in place to handle the accounts and inventory of your business. This team is adept at taking care of the online catalog and updating inventory and managing finances. Given your excellent product offering, your business sees a sudden boom in demand. There are more customers flocking to your website. There is a sudden pressure that is created on your team who were used to handle a certain speed of workflow and a definite lead time. Because of increased sales, manual data-entry and handling payment and credit is becoming a complicated issue. How do you manage this boost which is good for your business, but is definitely hurting your back-end processes?

You can most definitely go for a team expansion. However, hiring new employees will also add new salaries to your payroll. So what can you do now?

ERP software comes to your help

Implementing ERP software into your business processes will help you manage the increased sales efficiently. The cost associated with it is a one-time affair. Even if you go for a subscription-based format, your expense per month will be lesser than what a new employee’s salary would cost you. ERP accounting software can help you automate the entire process of data flow, thus decreasing the pressure on manual entry.

When you receive new products at your warehouse, you will only need to add its information into the ERP software. This will automatically push the product information to your ecommerce website; thus, eliminating the need for double entry of information. Information includes all details including pricing, descriptions, and quantities among other variables. Once this happens, as and when an order gets placed, the ERP software automatically manages the inventory and updates which product orders need to be placed.

Your ERP accounting software can even check if your customer is within the credit limit before the warehouse picks up the order. You just need to set some criteria that will help them follow up and evaluate orders.

ERP and Ecommerce bring you better profits

When you are bringing your business online, it makes sense to automate your business process as well. After all, we set up ecommerce portals to increase our reach and record better sales. ERP software helps you do just that and helps you check the profits that you had aimed for when you started your ecommerce business.

How Integrated Point of Sale Solutions Can Help Optimize Your Retail Business

Ever wonder how to improve your business while managing every single aspect of your retail store or restaurant? Bring your retail outlet to the future with a single solution that will improve functions, save time, and help manage everything from inventory to employees.

Point of sale solutions are the future in retail store management. POS is established as one of the fastest growing modules chosen by businesses across the country. No matter if you run multiple businesses or a single pop up outlet, cloud based POS systems are designed to optimize and systemize your retail business.

Take a load off retail management

Handy features like a built-in inventory system management reduces hours of work spent manually counting and cataloguing stock. With an efficient system that both records and deducts sales made in real time, you can keep track of expenditures and profits earned on a daily basis.

Make achieving sales objectives that much easier with a system that does most of the heavy lifting for you. POS Singapore systems warn you whenever you’re running low on particular products, so you can avoid disappointing your customers with up-to-date stock, where every single item on the menu is always available.

Centralized and customized

Keep your data centralized, all available at a single touch of a button. Make things easier for both employees and customers, all while enhancing your customer service. With all your data on a single platform, you can keep a close eye on your customer information. Build your stock to cater to your customer’s likes and preferences.

Insight enables easier decisions

Integrated systems offer easy solutions and deliver concise and critical information of day to day functioning. Make difficult decisions easy while managing daily transactions with minimum effort. Be dynamic and create your own work environment. Get vital information that will help determine staff performance, highlight areas that require attention and improvement, in addition to allowing the ability to identify table turnover.

Leave an impressive impression

Let your customers sit back and get all the information they need from perfect wine and food pairings to possible allergens present in their meal. POS in Singapore takes the customer experience above and beyond regular restaurant dining. Imagine dining at a restaurant where your server helps you choose a dish by swiping through images of menu items on a portable device. Now that’s a place you’re sure to remember.

SAP accounting software and enterprise resource planning

Finance:

You cannot run a business without money. A business lives and grows on money. The core dependency of the business is on the amount of profit it is making and the amount of loss it is running into. This decides the life and death of the business. Profit and loss calculation is all to do with accounts, reports and ledgers. A more comprehensive and all-inclusive term would be finance management. The finance of a company forms the base of a company. The team that looks after the finance is one of the most important teams in the company. The responsibility of the finance team includes looking into both the internal affairs like salary of employees as well as external affairs like revenue generated at the end of each fiscal year.

As finance is such an integral part of a business, there should be proper management of it. Competition is increasing at a rapid pace and each company thrives to increase its revenue. Hence the finance function has to be modeled in such a way that the company achieves a cutting edge over the other companies. The finance team should be skilled enough to handle and negotiate with stakeholders and ensure maximum profit for the business. However, with so many teams working in a company, it often becomes difficult to streamline all the process. This is where enterprise resource planning comes into the picture.

SAP ERP software:

One such software is the SAP accounting software that takes care of the finance is SAP ERP Financials suite. It takes care of functionalities like compliance, financial management risk analysis. The modules of this SAP accounting software take care of accounting and reporting, management of accounts payable and accounts receivable, and shared services. As there is one unified platform with all the information regarding the company’s accounts, it becomes easier for managers and business analysts to discuss the financial issues of the company. This software conforms to industry standards like IFRS and GAAP. Thus this software helps to create one version of financial statement for a company by integrating various financial processes and applications.

Thus it is a very useful software that comes in multiple languages and is easily available all over the world in various currencies and time zones. However, it is adaptable to the local issues and gives local solutions by translating the solution to a local language and making it accessible to the team members of the finance department.

Effective Strategy for Operations

Every company has a separate unit for operations. Operations is usually an internal unit that ensures the company meets its objectives. Anything that is infrastructure-related falls under operations. Allocation of resources supply chain, asset maintenance are all part of operations. Although operations is an internal unit in a company, it forms a very important part in running the company smoothly. Strategies are formulated to ensure effective running of the operational activities in a company. Companies formulate strategies for short-term and long-term goals. By utilizing these operational strategies, the companies ensure that they make maximum use of their resources and work force.

The strategies regarding the operational work cover many areas. On a broader perspective, corporate strategy involves making effective operational strategies as it links various departments in an organization. After making the organization work seamlessly, the next operational strategy would involve customer satisfaction. This involves keeping up with the changing times. The client can only be satisfied when the core competencies of the employees have been harnessed to the fullest. For this, operational strategies are also formulated. Without competition, there can be no growth and improvement. In order to instill the competitive spirit, the strategy to build the competitive priorities involves first developing the corporate strategy, formulating the core processes and doing market research. Finally the service is rendered to the client, which is done by developing operational strategies.

SAP and Operational Strategy:

SAP is a German company that makes the enterprise resource planning software. It has made a huge name for itself in the world. SAP has come up with a new product called SAP Business One that helps small and medium sized companies with their operational planning. It is one platform that stores data from finance, operations, and human resource and makes it available to the company in a comprehensive manner. The SAP Business One program is also very easy to deploy. It can be deployed in both on premise and cloud platform.

The operations unit itself has varied processes with lots of data. Thus, to make that data available in a comprehensive manner itself is a task that is achieved by SAP Business One software. Especially for small and medium sized companies where operations mostly consists of a makeshift team and is not well organized, finding the right data at the right time may be a huge task. To make this task easier, SAP Business One software is implemented.

Healthcare: How ERP Can Help Save Billions of Dollars

It is no secret that a lot of organizations in the healthcare sector use dated ERP systems. Unfortunately, such legacy systems don’t really qualify as ERP in today’s scenario.

So what is preventing them from making the switch?

It is not a question of money. They have the resources at their disposal, but healthcare organizations have a lot of critical life-support systems hooked up to their ERP, and any downtime involved with the switch is a risk to the safety of their patients. There is also an ‘unofficial’ downtime involved with users becoming familiar with the new system. Annual healthcare expenses in the United States are $2 trillion, but it is estimated that $330 billion worth of medication is wasted on account of patients not adhering to their medication schedules.

Theoretically, could a better ERP help cut down on this? The answer is not only yes, but it could do so much more – a study involving physicians and features associated with a modern ERP system generated the following results:

  • Hospital costs declined by 13% per admission
  • 44% of physicians were able to do their clinical work faster
  • 52% of physicians felt their work was made easier

Additionally, it was found that an Enterprise Resource Planning system could reduce the length of stay for an inpatient by factoring in advances in medical technology such as robot-assisted surgery and minimally-invasive surgical procedures. An ERP system would also help the administration to streamline their claims process with insurers, significantly cutting down on paperwork. Insurance companies have adopted new ERP systems and according to them, several claims are denied because of outdated codes used by hospitals (these codes relate to diagnosis and treatment). When a claim is denied, a hospital or healthcare institution has two choices – it can either forget about it, or try again, this time doing it right. Not willing to forego valuable revenue, the latter is what hospitals choose to do. But this also involves a significant spending on human resources when a real person has to sift through the claim, figure out where they went wrong, fix it, and do a thorough check to ensure that everything is correct this time to avoid another denial. This manual effort, as you may have figured out already, takes time.

So is there a way out, or are hospitals doomed to be trapped in this vicious cycle? The solution to adopt a new ERP system, but not all at once – the less critical departments can be migrated first, staff can be trained on the features of the new system, and with a bit of careful planning, the new system can be rolled out in other departments as well. The staff would already have been trained by this time, and so near-100% efficiency can be achieved from the very first minute itself.

The savings from using a modern enterprise resource planning system can work out to millions of dollars per healthcare institution, and billions across the industry.