Your business most likely has a lot of documents throughout that are very important, whether they’re invoices in the accounting department, purchase orders, data or receipts. If these were to go missing or were damaged, you could lose thousands of dollars of wasted time having to reproduce or search for these documents. With all the technological advances, there truly isn’t any reason that documents should be kept strictly in paper form. Another option is by implementing a document management solution.
There are many reasons why your business may undergo an ERP audit. Whether you are in a heavily regulated field and must undergo an ERP audit for government compliance or are checking for security breaches, auditing your ERP system is a great way to ensure your data is correct. With incorrect data, you could undergo adverse effects that could hurt your business.
It’s no surprise that a majority of manufacturers are using an ERP system. In fact, research by Aberdeen Group show that 74 percent of manufacturers are using ERP. This doesn’t mean that these companies are using manufacturing ERP correctly, however. The Aberdeen Group found that a majority of manufacturing companies weren’t using their manufacturing ERP to its fullest potential, resulting in these companies not reaping the full benefits.
If you’re implementing a new ERP system, you have to think carefully about what you want to do with all of the data in your current ERP or accounting system. Many businesses think it’s a no-brainer, “of course we need all of that data, its important!” but all of that data is not as valuable as you think. Further, the cost of migrating data can add to the price of your ERP implementation project. So, should you migrate existing data into your new ERP system? That depends on how you answer the following questions:
While a majority of companies of companies already have an ERP system in place, there are still many who have yet to make the investment. This is the case for many reasons; maybe you think you’re too small for ERP, it’s seemingly too expensive, or maybe things seem to be running along just fine without it. These are all myths since cloud ERP has made these systems affordable for business of all sizes and research shows that “if it aint broke, don’t fix it” mindset can be costly. Continue reading
Regulatory compliance has become an increasingly important subject for companies in nearly every industry, and while details may be different, each company has the same headaches. Ensuring that operations throughout the organization comply with local, national, and international regulations is a time consuming, expensive, and extremely tedious task fraught with opportunities to make mistakes that can lead to serious consequences. Companies try many different strategies, various spreadsheets, and compliance software to manage this important job; but an ERP solution armed with the right tools is arguably the most effective way to streamline the process and reduce the cost of ensuring compliance. Not every ERP system has everything you’ll need to manage compliance, below are three basic, yet critical components of compliance that your ERP system must be able to handle.
Choosing the wrong ERP system can set off a domino effect that can bring down your entire project, not to mention the ripple effect that it will cause in other parts of your business. There are so many things to consider before making your final decision to ensure your project is a success, stays within your budget, and is completed on time. Here are a few steps to help you in your selection process. Continue reading
Life would be a little bit simpler if your ERP system had a “use by” date telling you when it is time for an ERP system upgrade. Unfortunately software just isn’t that simple. Some vendors suggest or even force upgrades on companies while others leave you to make that decision by yourself which can be tough. Luckily there are some rules of thumb and signs that can help you decide when the time has come to go through an ERP upgrade or when to ask your vendor if they think you would benefit from a system upgrade. Continue reading
If you have been reading this blog series, you have probably figured out how we feel about homegrown ERP solutions; they are just not giving you the benefits a best in class solution would! one of those benefits is proper ERP system testing. The companies who have created best in class solutions have spent who knows how many hours and a ton of money testing their software to ensure it is free of bugs and does what it is supposed to do before release. You cannot say the same for your homegrown system. Continue reading