Tag: ERP software
A strong technological backbone – that is what is required of businesses today. From simple record-keeping tasks to complex future planning tasks, advanced technology can support a business and allow it to function smoothly. ERP solutions were designed exactly for this purpose: to boost the capabilities of businesses. To understand this better, let us take a short tour into the world of cloud-based ERP solutions and see how they benefit companies.
What Is Cloud-Based ERP and How Does It Work?
Cloud ERP or Enterprise Resource Planning Software is a modular software system designed to integrate all the core processes in an organization. It acts as the IT backbone of a company and is accessible over the Internet. The demand for cloud-based ERP systems has consistently grown because of their ability to access and analyze massive amounts of data in near real-time. This means that as new data is added to the system, the ERP system analyzes this data consequently and produces results spontaneously.
Cloud ERP systems are built with vast combinations of technologies connected by high-speed internet networks. They are always online, and the ERP vendor takes care of any security updates. These systems have a wide range of business applications to help workflow efficiency with exclusive attention to a positive customer experience and boosted profits. Businesses can choose from different deployment modules and settings according to their needs. This keeps the business team focused on its core operations and will help streamline workflow to meet the company’s goals.
Pros And Cons Of Cloud-Based ERP Solution
As with any solution, it is wise to consider both the pros and cons of Cloud-Based ERP before investing in it.
Pros –
- Scalability: This is perhaps Cloud ERP’s most impressive feature. Its ability to seamlessly scale as a company’s needs progress is spectacular.
- Mobility And Access of Information: Cloud-based ERP software permits smooth access and control of information and company data through ERP-enabled mobile devices, making it easier to access important data from wherever and whenever necessary.
- Real-time Analysis: This is a priceless tool for businesses today, and with cloud ERP, companies have the power to access information as it becomes available allowing them to make faster and more efficient decisions.
Cons –
- Long-Term Costs: Cloud ERP works best for businesses with a clear long-term vision. If you expect your business to grow rapidly over time, then the cost of the cloud-based system will be worth it. On the contrary, if you expect your business to remain static, then a regular traditional ERP service is best suited for you.
- Absence Of Customization: A cloud-based ERP system may have a rigid template, and when you implement your ERP system in the cloud, your ability to customize it will be stunted. This system is extremely beneficial for smaller businesses, while larger ones might benefit from having an ERP expert to deal with this.
- Connectivity Issues: Uploading all your data to the cloud will mean that you need to have a strong internet provider. Without a smooth connection to the cloud, your workflow cannot run easily, and this will ultimately lead to significant issues.
What Are The Top Benefits Of Implementing Cloud ERP?
There are innumerable perks to implementing Cloud ERP and listed below are five of the most beneficial:
1. Quick And Painless Upgrades And Updates: Every ERP software requires periodic updates, and this process can be tedious when it falls under your responsibility. With cloud ERP, the service provider takes on the duty of upgrading your software regularly, making it hassle-free for you.
2. Real-Time Analysis: As we saw earlier, cloud ERP’s real-time data analysis feature is its strongest suit. It helps employees access important information as it becomes available and keeps them up-to-date with business decisions.
3. Simplification And Automation: With the implementation of cloud ERP, companies can consolidate previous legacy applications, integrate all existing and new applications, simplify workflows, and intelligently automate processes.
4. More Security And Less Data Loss: Data security is a growing concern for most businesses nowadays. To tackle this issue, cloud-based ERP vendors can deliver enterprise-level security and compliance to safeguard your data. Cloud-based ERP systems also have a robust backup and recovery plan that ensures that no data is lost during upgrades or security breaches.
5. Free Up Internal IT Teams: While Cloud ERP software vendors do all the mundane technical tasks, internal IT teams have more time to focus on other, more important responsibilities such as hardware maintenance and product support. They will be able to concentrate on higher-value activities and spend only a fraction of their time on troubleshooting and routine ERP check-ins.
Read more: A Complete Guide On Enterprise Resource Planning!
How To Know If Your Company Needs Cloud ERP
Identifying your company’s needs and recognizing when to accept help is crucial for your business’ survival and growth. Seeing how vital Cloud ERP can be to a company’s progress, let’s look at a few signs that might indicate that your company needs Cloud ERP software.
1. If you use different solutions for different processes: When you notice that different departments in your company use different solutions to perform their tasks, it can be a clear sign that you need to find a unified solution that all these departments can access together. Cloud ERP can unify multiple processes and integrate every business function into a single database.
2. When every task is manual and not streamlined: When a company heavily relies on traditional and ancient legacy systems, its speed of growth can diminish. Manual tasks are extremely time-consuming and are at greater risk for human error. To help with this, ERP systems can automate or streamline these everyday tasks to save money and boost efficiency.
3. If the retrieval of information takes forever: Time flows faster today, and if your business fails to function at lightning speed, you’re bound to miss out on profits. Your staff members should be able to retrieve key data immediately, without any delays or the need to search for it in multiple places. A cloud ERP system offers a full-blown, all-inclusive view of the entire business operation no matter when you need it, making it effortless to access the correct data at the right time.
4. When sales and customer service are suffering: Your customer is the top priority of your business. If customer experience is deteriorating, then you have to do everything in your power to rectify it. As your company grows, managing inventory becomes more challenging. This is where Cloud ERP can help you. Due to its unified processing, staff in every department will have access to the same, up-to-the-minute information about the company. This makes it easier for customer-facing reps to pull up customer information quickly. To do one better, customers can even check their account status information, while warehouse managers can check if stock is getting low and can reorder.
Investing in Cloud ERP can be a costly affair at the start, so analyzing your business needs thoroughly before making any decision is very important, including your goals for the next few years.
Cost Factors With Regard To Cloud ERP
Profits are what it all boils down to in business. If you find yourself spending more and more money on business maintenance, you need to stop and take a good look at your expenditures. Investing less and making more is the right way to run a business, and Cloud ERP can help you reach that goal. This software has a great capacity for streamlining and optimizing your operations and business processes without the need to spend heavy amounts of money on data security.
Of course, Cloud ERP integration costs money, too. Some factors that will affect the cost are:
- licensing costs
- number of integrations required
- complexity of the ERP system
- volume and quality of data
- extent of customization required
- integration tools and technologies
- IT manpower
It would be best to speak with an experienced ERP integration specialist who understands your needs and can provide the best solution for your budget.
Choosing The Right ERP Vendor
Once you have analyzed your business needs, the next step is to look for your ERP vendor. The single most important criterion for selecting the right ERP vendor is to check if they are the most functional fit for your organization.
Ensure to partner with someone with a good track record in ERP implementations. Check their references, ask for case studies, and get to know how well they understand the needs of your industry. A good vendor will communicate with you and offer post-implementation support.
How Fingent Can Help
As an exclusively client-centered service, Fingent brings you a team of qualified and brilliant professionals to make your ERP solution implementation process simple and perfect. Our specialists use top-notch and advanced technological tools to help our clients. We also offer great post-implementation assistance by keeping track of performance and staying in contact with clients through user comments to make any necessary fixes.
Give us a call, and let’s discuss your needs.
It’s time to load up your arsenal. Why? Because it’s wartime and you’re here to win!
The COVID-19 pandemic has held the world in its vice-like grip for a considerable time now and many businesses have had to downsize or even shut down in its wake. Just when we thought it was over, we were hit by another wave.
There is no reason to despair though. With the right tools and the right guidance, you can surf through this wave and the next. In this blog, we are going to be talking about one such power tool – Odoo ERP. Odoo ERP’s capabilities and user-friendly aspects are helping businesses to manage their operations successfully despite the challenges brought by the pandemic, and you can too.
A Solution to Pressing Challenges
Finding new customers and retaining existing customers is one of the most common business challenges. According to Kauffman’s statistics, the pandemic heightened this challenge. The increasing competition did nothing to help with this.
Additionally, when the pandemic struck, companies that were not prepared to work remotely faced a huge blow because they had to shut down their offices and work remotely.
Evidently, businesses need a dedicated business management system to successfully cope with these and other challenges. Odoo ERP is a business management tool with the complete capability to manage the entire operations of a company.
Odoo ERP’s capabilities and user-friendly aspects are helping businesses manage their operations successfully despite the challenges brought by the pandemic. The Odoo platform brings efficiency and improvement to all the operating processes of the company.
Read more: 5 Salient Features Of Odoo That Makes it a Reliable ERP for Enterprises
Odoo Is a Better Tool to Invest Today to Stay Prepared For Tomorrow’s Challenges
Pre-pandemic there was a notion that employees’ productivity will be hampered if they work from home. But the pandemic taught us that when digital ways are adopted correctly, remote work can be a success. And the Odoo ERP system has been a boon in catering to these digital requirements.
Odoo ERP is considered the most advanced and easy-to-use tool in today’s tech-plenty world. With the help of Odoo ERP, companies are enjoying seamless integration, better module-to-module connectivity, and effective digital bookkeeping to name a few benefits.
Odoo ERP with its Business Intelligence increases productivity by helping to use the company’s resources effectively. By digitizing record-keeping and pen and paper approvals, for example. Let us consider some specific ways in which Odoo ERP helps businesses stay prepared for future challenges.
1. Minimum workforce
Sudden lockdown measures have forced some companies to cut down on their staff. Odoo’s modules can help your business function well even with fewer employees. Production invoicing, lead generation, and stock movement provide perfectly navigated paths for your business despite strict lockdown measures.
2. No sales due to lockdown
If you are unable to sell your products due to quarantine measures, Odoo can solve your problem. It can help you create a website for e-Commerce. It allows you to create an easy to use, elegant and attractive website. These websites can also be connected with different online payment methods that make buying a lot easier for your customers.
3. Remote management
Due to lockdown measures and transportation restrictions, most organizations have opted for remote work management. Odoo can help you manage every integral business activity from wherever you choose to work. Its efficient functionalities and Business Intelligence capabilities will allow access to your company’s database whenever and wherever you are.
4. Cost-effective
Odoo ERP’s robust modules can minimize your business management costs while ensuring quality service. It offers effective management services at a reasonable price.
5. Secure business communication
Secure communication among employees, partners, and clients is essential to all businesses. Odoo Discuss is a user-friendly messaging application that enables your teams to communicate with each other simultaneously. It ensures sharing of projects and other integral documents without allowing any breach.
There is no doubt that Odoo can refresh your business considerably if implemented correctly. Given that, let us understand what are some common mistakes made in Odoo implementation. This will help you succeed in overcoming any implementation challenges.
Read more: 5 Signs That Imply Your Business Needs Odoo ERP
Common Mistakes Made in Odoo Implementation
Admittedly, implementing Odoo ERP is a huge change for an organization. It can be daunting for a business as it involves multiple considerations. If the implementation is not carried out properly, it can paralyze the entire organization. That is why it is important to choose the right implementation partner. Here are some common implementation mistakes:
- Lack of strategic management planning: A clear strategic roadmap and goal will help identify all the requirements from the ERP implementation. Not having a clear goal implies money-related disadvantages and unorganized due dates leading to chaos.
- Over customization: Over-customization can cause Odoo performance issues.
- Lack of experienced project managers: Hiring project managers that do not have in-depth expertise and lack adequate experience is another mistake that can lead to performance issues.
- Not testing the framework: Due to a lack of time, some organizations decrease the number and profundity of test cycles. Eliminating some tests may leave defects undiscovered and miss important functions as well.
- Lack of sufficient training: Some organizations rush to use the product without sufficient training. Training at the right time is as important as doing it in the right way.
Why Do You Need an Odoo Partner?
Expertise is the primary reason. A good Odoo partner will have the expertise, experience, and knowledge that you need for a successful implementation. They will help you avoid the pitfalls of implementation and execution and can guide you through the nuances of the platform. With techno-functional consultants on board, they will be more successful in identifying complex issues and locating the right business procedures than you will be if you try to do this on your own.
Read more: Why Choose Fingent as your Odoo Partner
Tips To Get The Right Odoo Partner
Here is a checklist that makes your quest for the right Odoo partner easy:
- Experience: Experience in different industries and services helps your partner identify problems quickly and deliver highly customized solutions that newbies cannot. Such experience will also aid them in spotting trends and keeping the system up to date.
- Availability: During the development phase, there is a chance that the software might develop many issues. If the partner is available 24/7, they can address any glitches and prevent significant revenue loss
- Pre and post-service support: Pre and post-implementation training is a must for organizations that have never used Odoo ERP before.
- Access: Ready access to the software developer when you need them makes software modification a swift ride and you can rest assured that you will get exactly what you need.
How Fingent Fits the Bill
Fingent is an official Odoo Partner and has helped many clients successfully implement and execute Odoo’s dynamic features in their business. We have a team of talented, professional Odoo experts with techno-functional knowledge. The presence of certified and senior developers will help in strengthening your business.
Our developers help you access and customize Odoo’s powerful features and build custom applications for your business that will give you an edge over the competition. With rich experience in implementing Odoo ERP for different industries and working with its different modules, you can rest assured that we have the technical know-how and the business experience to do it right for you.
Connect with us now!
Businesses today need a reliable, effective, and user-friendly support system to tackle the rapidly evolving market changes. Odoo ERP offers features and easy-to-use models that enable businesses to simplify their processes, reduce costs and improve efficiency. It also offers free and paid versions with an outstanding integrated system providing businesses with reasonable flexibility and scalability. With these and many other unique capabilities, Odoo ERP is turning into a hot topic amongst top companies today! With the release of Odoo 15, expectations have risen even more! Businesses are strategizing ways in which they can deploy the improved capabilities of Odoo 15 to enhance their business growth. This blog will take you through what’s new in Odoo 15 and how you can leverage these enhanced features for your business.
What is Odoo 15?
The all-new Odoo 15 is likely to launch in October 2021. It will be released in the Odoo Experience Meet which will be conducted virtually due to the COVID-19 pandemic prevalent in many parts of the world. Odoo 15 is expected to feature advanced tools that can help improve business performance and efficiency. Odoo 15 is believed to be the ultimate business solution with its latest web-based integration and superior architecture.
Read more: 5 signs which imply that your business needs Odoo ERP
A Look Into the Expected Features of Odoo 15
1. New import screen
Odoo 15 is expected to extend the experience with its new importing screen feature. This new import screen feature includes a menu to handle cash rounding making it seamless for accounting and generating the invoices.
This feature is expected to be available in all the required modules and functional tabs.
2. Capable options in Pivot and Graph views
Odoo ERP software provides data representation with Pivot and Graph views. The Odoo 15 version will most likely allow you to edit and adjust the graph using Odoo studio. With this, you can extend the representation of the data to valuable insights for improved decision-making and analysis.
3. New HTML Editor
Odoo 15 is expected to include an attractive new HTML editor. While it will be similar to text editors, it will include HTML codes. So, many developers are using it to extend productivity.
4. Coupon and Promotion Program in POS
While the previous versions of the Coupon and Promotions were exclusively for Sale and eCommerce websites, the Odoo 15 coupons is created to support both eCommerce as well as POS.
The feature will be available in the POS settings. While under the product menu you will have the option to create Coupons and Promotions based on your business needs for later use. The cashier can click on the Enter Code button from the POS and apply the Coupons for Point of Sale Order which will be reflected in the customer’s invoice.
Considering the previous trends of Odoo releases, Odoo 15 will have an enhanced user experience that is sure to blow your mind.
5. New command and command editor
Odoo 15 will include the new command and command editor. It will help handle invoices in accounting configuration.
Read more: How Odoo ERP Simplifies Sales Management in Your Organization
6. CRM
The new feature in the CRM is expected to improve managing leads and well assigning salespersons.
Using this feature, leaders can allocate the desired team members to activity or lead in the Odoo 15 CRM module. This will augment the organization’s sales activity and the team members’ collaboration for the leads.
7. Project burn down chart
This feature will be introduced in the Project section. Here, you will find an easy reporting tool to view the actual chart of the project’s progress phase-wise.
Additionally, the chart will help identify the current trend and any delay for the project deliverable.
8. Share buttons
The share functionality will be included in the customize section of the eCommerce website platform.
Typically, the share button allows the products to be shared on different social media platforms through the website portal. Using the new functionality, you can share the details on the platform to finalize the product.
9. Purchase dashboard
The purchase dashboard gives an amazing perspective for the dashboard comprising all the purchase values and graphs. The dashboard provides the needed information about the tax and untaxed-based total. A click on the reporting tab of the Odoo 15 dashboard will seamlessly get you a detailed report.
10. Website gift card
This option allows you to sell the card on eCommerce. This functionality creates unique codes for the sale of Gift Cards. These unique codes are given to the customers either via email or physically.
Odoo apps or modules help create multiple unique codes for the purchase of a gift card. Odoo 15 is likely to upgrade these features.
Additional features
In addition to the above-mentioned features, Odoo 15 is likely to incorporate these features as well.
- Business Intelligence Tools
- A newly designed eCommerce product page
- Formulas of BOM, %of final products, etc., to improve the process manufacturing.
Read more: Why Choose Fingent as Your Odoo ERP Partner
Conclusion
Odoo ERP implementation can help you manage your business seamlessly and with Odoo 15 you can enhance it further with customization. In general, Odoo 15 brings several opportunities to users and developers and helps them explore better opportunities.
At Fingent, we constantly indulge in building innovative modules for Odoo and other ERP platforms. The rising capabilities of Odoo are sure to unlock unique opportunities and we are preparing businesses to deploy the same.
If you think your business is ready to deploy the rising capabilities of Odoo, then connect with our experts today, and explore unlimited possibilities for your business!
All You Need to Know About Enterprise Resource Planning Software (ERP) Software
ERP software is used to manage many business functions. In the past, only large organizations considered using Enterprise Resource Planning software (ERP). But, with the rise of cloud technology, these solutions have become affordable to small businesses as well.
As a result, 96% of best-in-class growing businesses have implemented ERP software solutions. This percentage is impressive! Yet, some may find it difficult to understand why they need ERP software now and what are the key features they must consider. This article will help you understand all you need to know about Enterprise Resource Planning software.
Read more: How Organizations can Gain a Competitive Edge by Implementing Digital Core ERP
What Is ERP Software?
ERP software is a suite of applications that are built to manage and integrate day-to-day business activities. These activities include procurement, production, project, human resource, finances, and so on. It provides accurate and real-time data that help stakeholders make informed decisions.
Enterprise Resource Planning software helps businesses to keep track of manufacturing and distribution processes. It eliminates duplicate data and provides data integrity. Typically, ERP software enables the business processes to achieve all that their business code requires.
Among the 96% of businesses discussed in the onset, Enterprise Resource Planning software is used by various industries such as education, wholesale and retail, food and beverages, real estate, and more. All these organizations manage employees, sell or distribute something and maintain accounts. An ERP software solution allows organizations to integrate and manage all these basic functions efficiently.
Read more: 5 Salient Features of Odoo that Make it a Reliable ERP for Enterprises
Why Do Businesses Need ERP Software Solutions Now More Than Ever?
The pandemic has ushered in drastic changes in all industries. Most industries have experienced serious setbacks while some have struggled to survive the crisis period. Few others are now thriving once again with the support of a decentralized workforce.
Decentralization is a gigantic task for those industries that operate under one roof. However, ERP software system has helped businesses to tackle the situation. Here are some ways in which Enterprise Resource Planning software can help industries as employees continue to work from home.
1. Easy decentralization
The cloud support of Enterprise Resource Planning software connects employees and the manager enabling them to work remotely. It can be used to allocate work and interact as often as required. Managers can also review the work of their subordinates remotely. It also helps organizations to manage the time offs and working hours of the employees and make it productive.
2. Effective planning helps to make better decisions
ERP software system can help you plan your project and alert your employees about their roles. The real-time data can be used to predict the challenges and forecast the demand. As Enterprise Resource Planning software is powered by AI, you will be able to assess the situation quickly and organize work efficiently. Thus, you can deploy the workforce proficiently and manage all operations profitably.
3. Stabilized business ensures a steady cash flow
ERP software tools help you stabilize your business during an economic upheaval such as the pandemic. B2B and B2C operations can be strengthened to streamline the business. Enterprise Resource Planning software system offers complete eCommerce support for businesses. This ensures a steady cash flow.
4. Safe transactions
ERP software can help you ensure safe transactions during economic crises. Plus, it enables you to remain agile and stay abreast of constantly changing customer demands. The academic sector is a great example of this as they have kept running smoothly despite being virtual. Thanks to the ERP software that makes student-teacher interactions more effective.
5. Better customer service
ERP software tools ensure quick interaction and timely delivery. Thus, it will enable the stakeholder to manage business operations safely during the pandemic. It can help you manage and continue all business-related operations on time leading to customer satisfaction and retention.
6. Online support
As the work environment has evolved to become more remote, maintenance and repair support must be performed remotely. ERP software allows for online maintenance and support.
7. Better customer support
Enterprise Resource Planning software enables you to connect and interact with your customers through live chat or email. Marketing automation along with the best CRM tools can help businesses provide better customer support.
8. Remain resilient
Your business can remain resilient with ERP software tools as customers can avail of your products or services from the comfort of their homes. Plus, this software system can help you automate marketing campaigns.
9. Supply chain integration
The number of businesses dependent on the online controlling system has tremendously increased during the pandemic. Enterprise Resource Planning software can enable the coordination of various supply chain activities from anywhere in the world. The investor can control all operations from the safety of his location as long as he is using ERP software.
Now that you know why Enterprise Resource Planning software is the need of the hour, you may want to know what are some of the features of the ERP software system. Please read on to find out why this software plays a pivotal role.
Read more: 8 Ways SAP ERP Software Implementation Benefits Your Business
Features of an ERP software system
- Integration: ERP software provides a central view of financial, operational, and business data. Moreover, this data can be shared in real-time across the organization. You can now turn this data into reports and insights that your organization can use to grow your business.
- Reporting: Reporting modules enhance business processes and identify problem areas before the business suffers. These reports may include visual representations that reveal trends and patterns to improve your business results.
- Automation: You can automate repetitive business tasks such as order processing, invoicing, payrolls, and more. Automation reduces errors and the time spent on manual data entry. This allows your employees to focus on more value-added tasks at hand.
- Tracking and visibility: ERP software allows organizations to track and understand business metrics by granting companywide access to near-real-time data.
- Data analysis: Data analysis enables employees to gather a wide variety of information and turn them into actionable insights. It can optimize current operations, identify frauds, minimize expenses, and provide better customer service.
- Accounting: This feature gives you the ability to track, store, and analyze financial data.
Read more: ERP Software Selection – 5 Step Checklist for CFOs
Successful Implementation Of ERP Software
Transitioning to an ERP software system can be challenging, but a properly implemented system can be highly rewarding. Here are some essential steps you must take for a successful implementation.
1. Determine your needs
It is crucial to know exactly what your business goals and objectives are and find ways in which an Enterprise Resource Planning software can help you achieve them.
2. Find the right ERP software
Each business has specific requirements. What worked for someone may not be the right solution for your business needs. Discuss with an expert ERP consultant to figure out what is the right ERP software for your business.
3. Data migration
Filter all unnecessary and incorrect data before you begin the data migration process. This way your system will be clean and accurate, and you can achieve efficiency and data integrity.
4. Launch the system
A capable vendor will review your requirements before implementation to make the process smoother and shorter. Discuss this timeline with your vendor to avoid any misunderstanding.
5. Test the system
Testing can ensure that everything is working properly and give you a clear insight into the performance of the system.
6. Choose a capable project manager
A capable project manager can ensure smooth implementation of the process. He can also guide your employees through the process and ensure they understand the importance and impact it will have on your business.
7. Go live!
Go live to test the system to ensure that it is working optimally.
Read more: Why Choose Fingent as Your Odoo ERP Partner
It’s Worth Every Penny!
The modern business landscape has become volatile and fast-paced. By using an ERP software system, you can speed up your operations and remain agile.
Now that you know everything about an ERP software system, all you need to do is find one that suits your business requirements. Implementing Enterprise Resource Planning software can be one of the best decisions you make. Fingent top custom software development company, can help you achieve a smooth ERP implementation and get the best out of your software. Call us today!