Five Reasons Companies Are Automating Accounts Payable

Posted on July 19, 2022
Category: ERP
1. Save Time, Money, and Resources Your business can see measurable results with robotization, such as invoice processing costs reduced by 80% and a 40% reduction in the number of checks written per month. In addition, many businesses that implement a cloud AP automation solution see significant ROI, typically within the first few months. 2.Promote Scalability A cloud AP robotization solution prepares your business for modernization, growth and ongoing adaptation to the “new normal.” AP

Top KPI for Manufacturing

Posted on June 29, 2022
Category: ERP
Efficient Utilization:  It’s important to monitor the utilization of all factory machines as well as staff. You’ll be better able to spot issues that prevent schedule attainment. And over time, analysis of this data will help you reduce costs by showing you where to take action to save time and resources. Throughput:  A critical metric for manufacturing businesses, this KPI measures your production volume by units produced. In some companies, throughput is measured as a percent

Top KPIs for Finance

Posted on June 13, 2022
Category: ERP
Cash Flow:  This metric is one of the most vital KPIs for manufacturers who keep materials on hand in inventory, sometimes for months. It’s important to make sure there is enough cash coming in to keep up with charges without running out of money or accumulating too much supply inventory. Operating cash flow metrics rely on accurate net income calculations, non-cash expenses, and working capital analysis. Income:  Monitor your firm’s income in total sales of
Manufacturing businesses depend on Product lifecycle management  (PLM) and Enterprise resource planning (ERP) systems for vital information needed to keep operations running easily. In such cases, connecting the two systems is essential when one system (ERP) relies on data from another system (PLM) to carry out critical activities. Your manufacturing team depends on certain key information, such as the bill of materials (BOM) from the PLM system, to manufacture a product. An integration solution allows

What is an SKU and SKU Management

Posted on June 2, 2022
Category: ERP
What is an SKU? Stock Keeping Unit is an alphanumeric unique identification code utilize to identify a product or service to track its movement. The code itself helps to categorize items by features that differentiate them from similar products. SKUs are created primarily for inventory management but also help to prevent theft and help employees. What is SKU management? SKU management is a division of inventory management that helps to identify, track, and categorize saleable
Demand and Planning Using a Pharmaceutical ERP, manufacturers can automatically create demand when orders are received, determining the quantities of material or item required and ensuring timely refill. Its MPS & MRP module come in accessible, helping them in when and how much is to be produced. Also, helps in forecasting the required material to meet the schedule effectively. Purchasing, Material, & Supplier Management A pharma ERP in pharmaceutical manufacturing industries provides a more effective
1. Which customers are moving, and when? Is it all existing clients from the old storehouse, or will a subset move to the new warehouse based on proximity? How will you map that demand history for the purposes of forecasting? 2. Is the old storehouse closing entirely? If the old warehouse is closing entirely, such as in the case where you are switching 3PL’s, how do you want to move or translate the demand around?

What is PLM in the Manufacturing Industry?

Posted on May 11, 2022
Category: ERP
Product Lifecycle Management (PLM) is an information system that helps coordinate the data and processes associated with the development of a product throughout its life cycle. It focuses on the entire life cycle of a product, from concept through disposal. The operations in manufacturing begin with PLM, where the product ideation, planning, and designing take place. This means a PLM system can collect all the information and data on the product elements, thus enabling an

What Is SoD?

Posted on May 3, 2022
Category: ERP
SoD (Segregation of Duties) is your best line of defense in ERP security. Let’s talk about why it is so important and how your team can manage role conflicts across applications. Segregation of Duties is an internal control that prevents a single person from being solely responsible for business process tasks. Giving one person control of entire business processes can allow error and possible fraud. The result would be disastrous for your business. You could

How To Speed Up Your Order-To-Cash Workflow

Posted on April 28, 2022
Category: ERP, O2O
The client relationship starts long before a purchase is ever made and continues even after the product or service is delivered. Keeping this in mind, it is important for companies to review their business processes and ensure that, whatever they are doing, client satisfaction is always top of mind. One of the things that many companies struggle with when it comes to maintaining customer satisfaction is the purchasing and order fulfillment process. As a distributor,
Up-to-date Inventory Information If you get a sudden visit by an accountant that wants to reconcile your inventory, with Mobile WMS you can easily track the inventory that he wants to be counted, and hereafter it can be easily done via the mobile hand scanner. In addition, you’ll get the option to customize this solution, so that only employees have the right to do a count or adjust the quantity with Mobile WMS. Precise Counts
Lack of Written Procedures and SOPs In a Standard Operating Procedure (SOP), clear stages are outlined for completing specific tasks in the workshop. Proper utilization of SOP improves communication and makes it easier to perform the necessary tasks for the work to move ahead. However, compliance issues tend to arise due to a lack of effective SOPs/Written Procedures. In addition, different issues prevent creating and using SOPs, including complicated language, lack of standardization, and inadequate

Which documents can be shared via EDI?

Posted on January 25, 2022
Category: ERP
Today, industries use EDI integration to share a range of document types. The most common document flow exchanged between business partners’ computer systems are purchase orders, invoices, and advance ship notices. Several other documents are transmitted via various EDI formats depending on industry and region. Food retail or FMCG (Fast-moving consumer goods) organization: requests for quotations, order status inquiries, product transfer, resale reports, etc. An e-commerce company: booking confirmations, shipping status, customs documents and others. A manufacturer: motor carrier load

What is EDI?

Posted on January 25, 2022
Category: ERP, Resource
There are several definitions of EDI one might find. But, to put it plainly, EDI is the electronic exchange of essential documents (also referred to as messages) between businesses using a standardized format. Therefore, it replaces the practice of sending out paper-based documents that were earlier sent out by post, fax, and/or email. The use of EDI streamlines the communication process with the use of a standardized format. One of the older definitions of EDI by the

The Benefits of Network Technology and IoT

Posted on January 18, 2022
Category: ERP
IoT devices fixed into assets are being used to record variables like vibration, temperature, humidity, and flow through at a much more granular level using IoT devices fixed into assets. Combined with advances in 4G and 5G – where we now have global network coverage – connecting and feeding data back from assets and devices is now simpler. Data from IoT devices flows into a data lake; from there, (AI is used to identify key