Tag: ERP solution
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.
“You on the cutting edge of technology have already made yesterday’s impossibilities the commonplace realities of today.” – Ronald Reagan
True to these words, the development and improvement of technology make possible several tasks we previously deemed impossible. The sky is quite the limit as long as humans are willing to innovate, create, and migrate.
This article will look at one of these brilliant technological advancements – SAP S/4HANA. We will also discuss how you can effectively migrate to this technology and benefit your business.
Introduction To SAP S/4HANA
SAP S/4HANA is SAP’s most famous product that works as a business suite with an in-memory database. It allows businesses to perform transactions, manage functions, and analyze data in real-time.
SAP S/4HANA is the digital heart of SAP’s plan to help its customers with digital transformations, including tedious tasks of modifying existing and new business processes. It is fabricated to house various advanced technologies, such as AI, machine learning, IoT, and advanced analytics. This enables it to help solve complex issues and analyze more information in real-time faster than any previous products.
Read more: SAP S/4HANA: The Definitive Guide!
Why Migrate To SAP S/4HANA?
There are innumerable reasons to migrate to S/4HANA, and listed below are a few important ones:
1. Cost-effective and fast
S/4HANA’s famous in-memory database improves the performance of complex business processes along with scalability and processing speeds. It plans, executes, analyzes, and reports data at exponential speeds.
2. Flexibility
The greatest benefit of S/4HANA is its compatibility with other databases, hardware, and software, making it the most versatile data solution available. It provides the flexibility to install new business acquisitions, proactively manage assets and eradicate mundane tasks from an employee’s workday.
3. Analytic Capacity
In-memory technology automatically means there will be no waste of time loading data from one location to another. S/4HANA reduces the time needed to perform even the most extensive reports. This, combined with its deftly built-in business intelligence functionalities, makes it capable of processing data in real time and taking required actions to overcome any hurdles.
4. Simple User Interface
For the sake of nostalgia and previous acclimations, SAP did not abandon its GUI of 20 years. However, a few modifications were still made to portray the enhanced business processes.
5. Future-proofing IT Investments
The sooner an organization migrates to SAP S/4HANA, the sooner it modernizes its business ecosystem. SAP is actively investing in this suite of business processes, and any future technological advancements will inevitably be pushed toward this fast-evolving and ingenious solution. Placing your eggs in this basket can help you in the long run.
Challenges Of Migrating To SAP S/4HANA
Just as with any business and technological transition, you are bound to face a few challenges while migrating to SAP S/4HANA. Listed below are a few:
1. Disorientation And Confusion
Being well-prepared for a conversion plan is always the first step in any SAP S/4HANA conversion project. Making conversion plans with fully detailed tasks to be performed in sequence and accurately calculating the time and effort it takes to convert the system is a serious responsibility.
2. Poorly-recorded legacy processes
Before jotting down a conversion plan it is imperative to evaluate existing processes. Often companies carry their existing problems to the new platform and regret the decision.
3. Complexity Of Custom Code
Custom code can be the backbone of information or the core code that unifies it. Conversion of any custom code to S/4HANA is an extremely complex task. An intensive study should be conducted to identify and evaluate the use of custom code. This analysis will then be the factor in deciding if the system can be converted or simply re-implemented.
Read now: How SAP S/4HANA Can Help Your Business to Become An Intelligent Enterprise?
Best Practices Of Migrating To SAP S/4HANA
As we’ve already seen, despite its many benefits, migrating to SAP S/4HANA can be challenging. It is far from impossible, however. Here are 5 best practices to keep in mind while making this conversion in order to keep the transition seamless:
1. Visualize your end goal
Figure out what your ideal ERP infrastructure and functionalities should look like. Starting a SAP migrating process means reverse integrating your ideal plan.
2. Determine what to rationalize, what to refine and what to conserve
This practice depends entirely on the application and which part of the business process it affects. Asses each module, component, and individual process that will be affected by the change and apply this practice to it.
3. Determine how much data is required for the move
If you want to reap the complete harvest of SAP S/4HANA with its advanced analytics, you have to carry over data from your existing ERP. The preceding data is what oils S/4HANA’s motors to be predictive and accurate in the first place.
4. Formulate an implementation strategy that reduces migration barriers
Every company’s migration process is different. However, Greenfield and Brownfield are the most famous ways of SAP S/4HANA migration. Greenfield is a total change from the old platform to the new platform and Brownfield is a technological upgrade.
5. Choose a consultant who specializes in selectivity
Picking the perfect partner for S/4HANA migration is critical to get the most out of the project. Find a partner who specializes in SAP environments and understands what the migration needs. Ensure that their selectivity in choosing what to migrate, what to preserve, and what to develop is on point.
How Fingent Can Help?
Fingent provides end-to-end planning, migration, and post-migration support and maintenance services. This includes tactical advisory on choosing the right S/4HANA migration path to suit your requirements. Our unique SAP S/4HANA service implementation methodology assists you with preparing, exploring, configuring, and deploying your project. We also provide support, project closure, and maintenance.
Fingent has a proven track record of helping clients across the globe with SAP S/4HANA implementation and migration. We can help you empower your business with this powerful too!
Reach out to us and talk to our experts.
Most organizations assume that their work is done once SAP is implemented. Consider this: Do you own a car you have never given for servicing? Or any piece of equipment that has never been serviced yet continues to work optimally? Absolutely not!
Likewise, the SAP system must be optimized regularly to ensure smooth organization functioning. Such optimization will enable the business to reap the real benefits of SAP investments. In this article, let us look at how you can optimize the SAP system for better business performance.
Why Optimize SAP?
According to Uptime’s 2022 survey, 80% of data center managers and operators have experienced some type of outage in the past three years. One in five organizations reported a server outage involving significant financial loss, reputational damage, compliance breach, and more.
Did you know? Over 60% of failures result in at least $100,000 in total losses.
Optimizing your SAP system is necessary to ensure your business runs as efficiently as possible. Whether you are a large business or a small business, proper optimization of your SAP system can make a big difference in terms of efficiency, agility, and, more importantly, security.
Read more: 8 Ways SAP ERP Software Benefits Your Business
Benefits Of Optimizing Your SAP System
From startups to global conglomerates, all businesses can leverage the SAP system. It is a proven game-changer for businesses looking for ways to stay competitive, as it can equip them with tools and functionalities to enhance their performance. It can help your business:
1. Avoid Reactive Firefighting
Reactive firefighting comes into play when you have to work towards solving a situation whose outcomes are out of control. SAP takes that out of the equation. Once the SAP system is optimized, it gets easier to thoroughly, carefully, and practically monitor the systems instead of reactive firefighting.
2. Prevent Potential Failures
Optimizing your SAP system can enable quick and easy identification of potential problems within the SAP landscape. This prevents larger issues by enabling early detection of the issue even when their damage is minimal.
3. Reduce Noise
Nearly 40% of businesses suffered a major outage caused by human error, out of which 85% stem from staff failing to follow procedures or flaws in the processes.
Bombarding employees with notifications would lead to missing out on important information. SAP system optimization would reduce the unnecessary noise and the flooding of notifications that would otherwise occur. It could categorize the issue and help to focus on the matters that are actually important and may affect the bottom line.
4. Reduce Time-Consuming Processes
Time spent on tasks such as conducting daily performance and health checks, SLA, audit reports, and compliance reports adds up to quite a bit. This, in turn, can keep the team from focusing on fixing issues. SAP system optimization helps by enabling auto-scaling, which can detect types of applications, processes, and operating systems to deploy the right checks and limits.
It is important for every business to understand the benefits of optimizing its SAP system. But it is equally important to know the best practices. Before we consider that, let us consider common performance issues in the SAP system.
Common Performance Issues in SAP Systems
Performance issues may affect the entire SAP system or certain functions or operations. Around 10% of small and medium businesses have revealed that their per-hour downtime is over $50,000.
Performance issues can be divided into four categories: SAP application server, Database, Network, and Hardware. Here is an overview:
1. Application Server: The SAP application server is a complex amalgam of ABAP and JAVA application servers, filled with potential issues. System-wide, single transaction, and background job problems are typical, and slow performance may be intermittent or continuous.
Quick fixes can usually handle single-transaction issues, while system-wide surges may require extensive troubleshooting. That’s not all. Ad hoc performance issues, such as when CPU or memory usage abruptly rises, can also be tricky to diagnose. Furthermore, the JAVA server may suffer from sluggish performance due to an individual application or the entire cluster, and long-running jobs are often a cause of concern.
2. Database: These issues could range from slow data retrieval to long procedures, or even administrative errors. When attempting to diagnose the issue, it’s important to first recognize the type of database you have.
You should also make sure to check for high CPU or memory usage in the server, as that can be a major cause of the problem. Additionally, remember to make sure network latency isn’t the culprit. After all, that can heavily impact database performance!
3. Network: The issue with the network would be latency in all queries and truncations. If your server hardware is insufficient and slowing down SAP transactions, you may have to determine how many resources you need to support current SAP operations.
4. Hardware: Hardware issues may include bottlenecks that occur at certain times or around the clock.
Best Practices for Optimizing Your SAP System
Optimizing your SAP system involves a number of carefully executed steps, including optimizing your data structure, optimizing the architecture of your SAP system, and optimizing your applications and processes.
1. Data structure optimization – This involves making sure your data is organized in a way that is efficient and easy to access. It also involves ensuring that your data is properly indexed, ensuring that the most frequently used data is readily available.
2. Architecture optimization – This includes ensuring that your hardware and software are configured correctly in order to maximize system performance. It also means they are up to date with the latest versions and that any patches or hotfixes have been applied.
3. Application optimization – This involves making sure that your applications are running efficiently and that any bottlenecks are removed.
Testing And Monitoring Your SAP System Performance
The SAP system can be a powerhouse, but if it isn’t running optimally, it can bring your entire business to a screeching halt. To keep it in top shape, regular system health checks and performance monitoring are key – no matter how large or small your enterprise is.
Unfortunately, SAP doesn’t provide a straightforward way to monitor performance, troubleshoot problems, and get back to operations quickly. Instead, users are left with the tedious labor of manually analyzing each system component to find the root of the issue, which can take days and hurt the bottom line.
To prevent this, Fingent can help take care of monitoring critical tasks, work processes, batch processes, database stats, and more.
Read More: Optimize Workforce Management with SAP SuccessFactors and Qualtrics
How Can Fingent Help?
Successful optimization of the SAP system is the road to increasing ROI for your organization. But managing complex IT landscapes, different business processes, and multiple tools can be intimidating for in-house teams.
That’s why we at Fingent top custom software development company, provide audit and optimization services to ensure your organization reaches its goals with SAP. Our frameworks and methodologies help identify bottlenecks and bring the best out of SAP systems, helping you save money and improve your processes. Reach out to speak to our SAP experts and find out how we can help.
Historically, SAP solutions have required abundant resources and time to implement. However, this investment of time and resources pays dividends, as organizations that successfully implement the latest SAP solutions gain a distinct advantage within their industry. This is particularly true when discussing the latest SAP solution, SAP S/4HANA. The evolution of cloud technologies fueled the rise of this next-generation enterprise resource planning (ERP) solution.
This definitive guide explores SAP S/4HANA, so business leaders can determine whether this ERP solution is the wisest investment for their organizations.
Why Modern Businesses are Considering SAP S/4HANA
SAP S/4HANA is the culmination of decades of product development innovation. This expertly designed ERP incorporates simplified architecture and a robust digital core. Additionally, it is equipped with artificial intelligence and machine learning capabilities to provide clients with access to truly revolutionary tools and functionalities.
Deploying SAP S/4HANA maintains the unparalleled level of business process coverage that SAP products are known for, while simultaneously allowing users to tap into the rapidly scalable computing power available via cloud services.
In simple terms, SAP S/4HANA eliminates the most commonly cited pain points associated with ERP implementation. Specifically, SAP S/4HANA can be implemented faster than legacy options and at a less cost-prohibitive price point, especially when users leverage the platform’s “best practices activations.”
Clients no longer have to invest in an abundance of on-premises computing resources but instead can leverage cloud-based alternatives.
Read more: It’s Time To Transform Your Business For The New Digital Age – Rise With SAP
Top Benefits of Implementing SAP S/4HANA
By transitioning to SAP S/4HANA, organizations can experience benefits such as:
1. Enhanced Ability to Adapt
With SAP S/4HANA, businesses will be better prepared to adapt to rapidly changing conditions within their sector. Additionally, the platform will help companies adopt the latest business models. Cumulatively, these benefits will make businesses more agile and resilient.
2. Improved UI/UX with Fiori
When SAP S/4HANA is paired with Fiori Innovation, the user experience is significantly enhanced. Fiori is the standard created by SAP for the use of design conventions and rich software elements.
3. Faster Deployment
In the past, deployments of legacy SAP ERP solutions could take years. Now, SAP S/4HANA migrations can be performed in mere months or weeks. Conversions from the ECC platform to SAP S/4HANA can also be performed in record times.
This reality allows clients to decrease their time to value and begin using their new software faster than ever.
4. Optimal Scalability
Transitioning from on-premises solutions to cloud-based options maximizes the scalability of ERP technologies. As businesses grow and expand, their SAP S/4HANA ERP software can evolve with them.
Before the release of S/4HANA, expanding ERP capabilities required businesses to invest in incredibly costly on-premises equipment. SAP S/4HANA makes this scalability challenge a distant memory.
5. Decreased Time to Market
One major hurdle to digital transformation was lead times. When businesses explore digital transformation investment opportunities, options that take years to go live are naturally not all that appealing to decision-makers.
As a result, some businesses settle on lesser solutions or rush through the deployment process, only to experience lackluster results with their new investment.
SAP S/4HANA addresses these recurring challenges by offering an expediting deployment process. While the efficiency and efficacy of the deployment depend primarily on the skill of the team overseeing the transition, capable SAP partners can implement S/4HANA far faster than its predecessors.
This rapid deployment is a significant selling point for businesses that need to achieve a condensed time to market and a fast time to value.
6. Advanced Analytics Capabilities
SAP S/4HANA’s dynamic array of reporting and analytics tools can provide organizational leaders with the insights they need to make data-driven decisions.
Decision-makers can view these data points through their preferred lens by customizing their reporting dashboard. SAP S/4HANA provides real-time updates, so business leaders can access the most accurate information possible.
In addition to its advanced analytics capabilities, SAP S/4HANA facilitates process automation via artificial intelligence software. Businesses can implement end-to-end automation, which reduces the workload on staff while simultaneously enhancing organizational efficiency.
Signs It’s Time to Transition to SAP S/4HANA
Waiting too long to upgrade ERP technology can turn a solution that should make businesses more efficient into a financial burden. If businesses are unsure whether it is time to transition to a leading-edge solution like SAP S/4HANA, they should look for indicators such as:
1. Lack of Standardization
When developing SAP S/4HANA Cloud, the company took the time to listen to its client base. What SAP found was that many clients were clamoring for product standardization. SAP’s clients are most often established companies that are facing very complex problems. They were early adopters of the Cloud ERP, but now these entities need to scale quickly to continue to innovate within their respective industries.
Antiquated options offered little or no standardization, making implementing and maintaining ERP software tedious, especially for those businesses with on-premise systems. SAP S/4HANA offers the level of standardization that clients were seeking while still providing them with the opportunity to customize their solutions.
2. Out of Compliance
Organizations that operate in closely regulated sectors must always be mindful of compliance requirements. The consequences can be serious if an organization clings to a legacy solution long after it has exceeded its optimal service lifecycle.
When compliance is a concern, businesses should promptly look to upgrade their legacy system with a modern alternative like SAP S/4HANA.
3. No Vendor Support
While product vendors support their technology products, they cannot support everything perpetually. As new products roll out, vendors will need to eventually discontinue offering support for previous iterations of software and ERP solutions.
You have two options when the vendor no longer supports your company’s preferred software suite.
The first involves maintaining the product in-house via cobbled-together solutions. This approach can quickly lead to diminishing performance and increasing maintenance expenses. The second, more pragmatic option is to upgrade to the latest available solution.
4. Costly to Maintain
All business moves, including replacing a legacy ERP solution, are boiled down to a risk vs. reward assessment. Much of this assessment focuses on the potential value benefits of making the switch versus the transition cost.
When legacy software becomes excessively costly to maintain, making this decision is that much easier. Antiquated technologies not only deliver less value over time, but they are also costly to keep up and running. If your organization has encountered this conundrum, it is a sure sign that it is time to upgrade.
S/4HANA Conversion vs. S/4HANA Implementation
There is an important distinction between migration or conversion and implementation for S/4HANA. Conversion involves transitioning all data and files from your existing SAP ERP solution (like ECC) to S/4HANA. Put simply, you are transforming your existing ERP solution into a variant of SAP S/4HANA.
During a system conversion, businesses will need to migrate their databases to SAP HANA 2.0. From there, they will need to convert their data to the new SAP S/4HANA model. In addition, the company must upgrade its software, which will involve replacing legacy application code with the code for SAP S/4HANA.
On the other hand, a new implementation involves building out SAP S/4HANA and then transitioning to the new system. The implementation process can be performed via a phased rollout, an incremental transition from legacy ERP to the new solution. Alternatively, businesses have the option to take all business units to SAP S/4HANA during a single massive rollout.
Both processes can be incredibly involved. Therefore, you should carefully analyze each approach’s benefits and choose the best method that best aligns with the needs and goals of your organization.
S/4HANA Conversion
Businesses that select a conversion strategy will see less significant downtime as the conversion is a one-step process. Choosing a conversion or new implementation is determined by your business type (if you are based in IT or finance, for instance), your long-term strategy and how many other systems are connected to your influencing system.
Prepare for Your Conversion
Before any new implementation or conversion projects, preparing your team and system for the changes is essential. Poor preparation can increase downtime, which decreases the effectiveness of the conversion.
Caring for your financial data includes preparing your team for new parallel accounting and document split capabilities via conversion. Also, verify the compatibility of your add-ons to ensure that they can handle the transition.
Ready your team for test cycles and have a plan in place so that each member knows their role to follow the guidelines.
Qualify a Baseline Plan
Your conversion and migration partner will assess your system to help determine the baseline plan for your system landscape. They will walk you through optimizations as well as the quality assurance systems and processes and which development system is best for you. They’ll also conduct a dress rehearsal to minimize the downtime and optimize the time your system has.
Consider Your Add-Ons
Most SAP systems have third-party add-ons as some were used to enhance the existing SAP architecture. Before starting a conversion, locate the vendor of each add-on and verify its compatibility with the SAP S/4HANA system. You’ll also want to check that you’ll still need each add-on. The vitality of the SAP S/4HANA product may eliminate the need for some third-party enhancements.
Read more: Low Code/No Code Development with SAP BTP: How It Is Turning the Future of Enterprise Resilience
Tips for Choosing the Best S/4HANA Migration Partner
When searching for the right S/4HANA migration partner, organizations like yours should consider factors such as:
- Scope of services offers
- Level of experience
- Industry reputation
- Whether the organization offers ongoing support
Of the above factors, industry reputation is of particular concern. While virtually any SAP 4/SHANA migrations partner can claim to be “top-notch,” not all of them are. Feedback from past clients serves as a valuable form of social proof that can help you determine whether a provider is right for your organization.
Fingent is Your SAP Partner
Whether you need assistance with SAP S/4HANA implementation or migration, Fingent is the ideal partner to oversee this complex process. Since 2003, Fingent has been delivering exceptional value to our clients while helping them gain distinct advantages in their respective industries.
Past clients have praised us for our quality of service, ability to expedite time to market, cost-effectiveness, and tailored approach. To learn more about our SAP S/4HANA solutions, contact Fingent today.
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!
Enterprise Resource Planning (ERP) software helps keep track of your product, sales, marketing, and other metrics and boosts organizational efficiency. However, finding the right one for your business can be a daunting task. While some are better suited for small companies or large companies, others may not even offer the services you are looking for. In this post, we compare two big-name ERPs- Odoo and Sage so you can decide which one is best suited for your business.
Read more: How Can Odoo Augment Your Company’s Project Management!
All About Sage?
Sage is one of the leading vendors of ERP software with clients across 160 countries. It offers solutions in Accounting, Human Resource Management, and Payments and Payroll. Its solutions include Sage 100, Sage 300, Sage X3, and Sage Intacct.
Sage’s top features include;
- Sage X3 offers a sales, purchasing, inventory, CRM, finance, and manufacturing module
- Sage 300 offers sales order management, finance, and inventory tools and integrated payments.
- Sage Intacct offers six modules such as billing, core financial, dashboard, and reporting, budgeting and planning, and platform to choose from. The sixth module is advanced functionality that you need to discuss with a representative.
- For business insights, paperless card processing, CRM, budgeting, and planning, opt for Sage 100 Essentials. It also offers several add-ons and third-party apps.
Who can use Sage?
Sage offers different programs depending on your business needs.
- Sage 100 can be used by small to medium-sized businesses.
- Medium to large businesses such as process manufacturing, food, and beverage industries can use Sage X3.
- Sage Intacct can be used by companies of all sizes especially healthcare, entertainment, non-profits, and more.
Sage Pricing
Sage offers customized pricing based on your specific business needs and so is subscription-based.
Challenges associated with Sage
While Sage 100 and 300 are not cloud services, Sage X3 and Sage Intacct both offer cloud services. However, Sage X3 uses on-premise hosting while Sage Intacct is browser-based. For Sage 100 and 300 cloud integration is available through Sage Partner Cloud.
Read more: 4 Ways Legacy Application Migration to Odoo ERP Benefits Your Business!
All About Odoo?
Odoo is a popular open-source ERP that boasts over seven million users. It is a newer ERP software system that is freely available for the management of business processes. Odoo is available in two versions- the Odoo community edition that has limited features and the ability to customize. The other one is the Odoo Enterprise which comes packed with features and customization ability.
Top Features of Odoo are;
- CRM
- Accounting
- Point of Sale (POS)
- Sales Management
- Warehouse Management
- Manufacturing
- Purchase Management
- Project Management
Odoo Pricing
The cost of Odoo depends on the number of users and the apps selected for your business requirements. Also, it is available with SaaS subscription pricing as the Enterprise edition or as the Odoo free Community version. While the Odoo community edition is free of charge, the Odoo Enterprise edition has a license fee.
Who can use Odoo?
Every company, small or big can leverage Odoo as you can choose among its 20 main modules to suit your business needs. It also allows you to add modules as your company and requirements grow. That said, there is no minimum number of users for the cloud base and can be used by both freelancers and solo operators easily.
The main highlight of Odoo is that it does not specialize in any particular industry. So, any company regardless of the industry can use Odoo for their management needs.
Challenges with Odoo ERP Implementation
- You may need to revamp your server and workstation to make sure they are compatible with the Odoo ERP app.
- Another big challenge is that the information formed through the traditional framework may not be compatible with the new Odoo ERP. However, this struggle can be prevented by careful project planning.
- With Odoo, there could be major changes in the business directs, models, and practices. The data entered by a user can be accessed by others in real-time.
- For successful Odoo implementation, you may have to implement new administrative practices and standards or update existing practices.
Which is Better: Sage or Odoo?
As mentioned above, Sage offers an impressive number of products but it is difficult to choose the right one for your needs. Also, as the pricing is quote-based, it becomes difficult to know how much you’ll be paying. That said, Sage is optimized for specific industries such as real estate and construction.
Odoo, on the other hand, is a great option for users looking to personalize the software themselves and want a more hands-on experience.
Read more: Odoo Migration: Why is it crucial and how to do it seamlessly!
Conclusion
Traditional practices are becoming obsolete as newer and more powerful solutions become available. So, selecting an adaptable software solution that can help in the long-term development and growth of your business is crucial.
If you’re looking to find the right ERP for your business or need help with optimization, we’re here to help. We provide the best ERP implementation services to improve your business efficiency. Connect with our experts today!
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!
The greatest business challenge of our time is the steady acceleration of change in all areas of trade. The pandemic has only accelerated these digital shifts. Transforming your business is necessary to stay relevant and competitive. The scale of digital challenges can be daunting to businesses. Understandably, some businesses may feel lost in the current digital maze. But, to stay agile and competitive, business leaders must strategically transform their business. Early this year, SAP announced a new service called “Rise with SAP.” This blog attempts to clarify what is included in Rise with SAP and how it can transform your business.
What is “Rise with SAP”?
Rise with SAP is a BTaaS (Business Transformation as a Service). The objective of this product is to accompany and accelerate business transformation step by step.
Rise with SAP is a single subscription contract. It provides access to a variety of tools and services that focus on assisting with your business transformation efforts. It is a new way to redesign processes for better business outcomes.
Rise with SAP can help your company to adapt business processes on your timeline and your terms. It helps them continuously unlock new ways of running businesses to stay ahead of the competition. It can speed up the otherwise sluggish adoption of SAP S/4HANA.
Read more: SAP S/4HANA: Redefining End-To-End Solution
How Is “Rise With SAP” Transforming Businesses?
Rise with SAP can holistically transform your business with a fast time to value, regardless of your starting point. Rise with SAP is like a moving company that provides a checklist, packers, containers, and services like replacing old appliances and installing new ones. It provides a blueprint that a company can implement on its own terms and at its own pace. What is the benefit? One contract and one responsible party for all services. It simplifies your journey in four simple steps.
Step 1: A business model redesign
This step helps businesses redesign and optimize business processes and implement the best practices in their verticals. In other words, it is a way to analyze how your business processes perform and obtain tailored recommendations.
A successful digital transformation project requires IT and business leaders to work together. This is why this analysis motivates all in your business to adapt to new business models.
Step 2: Alignment with customer journey
This is the key element of Rise with SAP. SAP realizes that each organization requires a unique path forward. Here are four starting points for digital transformation:
- Digitally grown startups and other innovators that need to scale with speed
- Companies that began their journey into the new world of modular ERP cloud applications are now ready to go further
- Organizations that have started digital transformation at the outer edges, now need to focus on their core
- Companies with a long heritage and history with a complex on-premises system
Realizing the fact that each of these starting points requires a unique path, Rise with SAP provides a highly customizable, subscription-based model.
Step 3: A technical migration
Rise with SAP includes technical services that ensure painless migration to a standard, modular, and flexible landscape. Such a flexible landscape with a consistent data layer enables businesses to react faster to ever-changing business demands.
This includes essential services from SAP and their partners. These services help eliminate modifications and custom code. Besides, it aids in harmonizing and governing a company’s data layer. Such accurate data will help businesses make informed decisions and strategize their business processes for greater advantage.
Step 4: Build an intelligent enterprise
Each company’s roadmap to success may vary but the destination is to become a digitized and intelligent enterprise. Quickly adopting S/4HANA is the key to reach that destination. To that end, Rise with SAP offers a powerful solution to get there by eliminating roadblocks and enabling its customers on their journey.
SAP believes that their customers can realize the value of their investment with up to a 20% reduction in TCO over five years as compared to a traditional ERP deployment. Definitely worth looking into, wouldn’t you say?
Read more: SAP for Business: 9 Ways to Maximize Business Performance
Components of Rise with SAP
An ideal business transformation process requires a selection of coordinated components. Rise with SAP consists of five such components that serve as the basis for transformation.
- Business process intelligence: It helps in understanding, visualizing, and transforming your processes.
- SAP Business Network “starter pack”: The intelligent enterprise “starter pack” includes SAP Business Technology Platform. This platform provides a single semantic layer across your organization. It serves as the basis for business transformation.
- Cloud credits: The “starter pack” also includes an ERP system with built-in intelligent technologies. This enables your business to transform with intelligent automation. Plus, the starter pack also provides credits for accessing SAP Business Network. This allows companies to better manage their supply chains and react quickly to market changes.
- Embedded tools and services: Ensure pain-free business migration to the SAP S/4HANA Cloud.
- SAP S/4HANA Cloud: Rise with SAP provides access to the company’s modular cloud ERP solution.
How Can Fingent Help Leverage These Benefits?
Rise with SAP provides access to a comprehensive bundle that can help streamline your business transformation. However, for successful implementation, you will also need an experienced partner that can provide advisory, implementation, or application management services.
Here is where Fingent top software development company, can help you. As an SAP Silver partner, Fingent has acquired a wealth of experience to provide you with a structured set of services that complement Rise with SAP.
1. Advisory services
Before you embark on business transformation, you need to assess several aspects. These include trends in your industry, assessment of your business, your existing technology environment, and opportunities for future business growth. Working with an experienced partner such as Fingent can make all the difference. Our strategies can eliminate obstacles to unlock new business value.
2. Implementation services
As an SAP Silver partner, Fingent can provide a range of implementation services. We can tailor implementation strategies to help you achieve your business objectives quickly and efficiently.
3. Application management services
Fingent offers a full set of solutions that move beyond tactical efficiency gains. We provide flexibility and the latest strategic capabilities that smoothen business transformation and innovation.
Read more: How Fingent Enables e-Invoicing for SAP Users to Stay Compliant with GST India Regulations
Over to You
Rise with SAP is likely to galvanize the market to be the most cost-effective way to move to SAP S/4HANA. It will help overcome many hurdles that SAP ERP customers are facing. Give us a call today and let’s get talking on how to get you on to this new dynamic tool asap.
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!
Why migrate your legacy ERP software to Odoo ERP?
COVID-19 pandemic and the subsequent economic disruption have made many businesses consider the benefits of legacy application migration. Migrating legacy enterprise applications or systems to new technology platforms is one of the cheapest and fastest methods to ensure business continuity in today’s volatile market.
Read more: Why modernize your legacy systems? What’s the best approach to legacy systems modernization?
Technavio estimates that the global ERP software market will grow by $18.91 billion from 2019-2023, with a CAGR of 9%. This report only highlights the growing demand for ERP software across various businesses.
Odoo ERP implementation is an all-in-one solution befitting your particular business requirements. Odoo ERP system is flexible and easy to deploy. It can replace your outdated legacy system and augment the overall business process. For example, Toyota uses Odoo ERP to streamline material handling processes. Even for a complex project, the shortest implementation span has helped Toyota create additional value in just six months of Odoo integration.
Reasons leading to an increase in demand include the need for digital transformation and to keep up with the ‘new normal’ thanks to the rise of eCommerce, mobile shopping, and providing a seamless experience to customers. In addition, the changing business scenarios are compelling businesses to adapt to new technology and platforms for facing the challenges and making the migration from one environment to another inevitable.
This has necessitated migration to the latest platforms such as legacy ERP systems to the new, web-based, Cloud, or On-premise Odoo ERP or from old Odoo ERP to the latest version.
Read more: Top 6 reasons to migrate to a cloud-hosted ERP
Legacy System vs. Odoo ERP
Currently, many organizations are operating under the legacy system, and some even continue to stay within that comfort zone. However, decision-makers will have to look into new technology and methods, as legacy systems need better functionality to facilitate daily business operations and accommodate the growing customer base.
Migrating to Odoo ERP system is the best way to adapt and meet the ever-evolving market demand. In addition, Odoo ERP migration reduces manual labor and improves business productivity to a great level. It is less time-consuming and cost-effective than going for a total replacement of your legacy enterprise application.
Why is legacy application migration needed?
1. Eliminate maintenance and security risks
A legacy system is inefficient and outdated and can cost you more than a total replacement, especially if the system is older. It can result in IT businesses spending more on its maintenance, leaving little of the budget to address business challenges that are getting complicated day by day.
That said, old and outdated software systems are more prone to cyber-attacks and security risks. Also, when such an obsolete system is near its end of the life cycle, support will be stopped leaving organizations operating on those legacy systems vulnerable.
In many cases, companies may lose data and information when legacy systems fail. Also, it could be tough to find people who know those obsolete programming languages to repair the system. Outsourcing the maintenance work may also become more expensive than usual as the professionals may not be well-versed with such a system. This is where a legacy application migration expert like Fingent can help. We help migrate your legacy on-premise systems to advanced, cloud-hosted infrastructure so that your business can scale as it grows.
Read more: 5 ways application modernization enables your business to reap ROI during a pandemic
2. Gain improved access to relevant data
Most of the legacy systems were built during times when customers would still shop from traditional brick-and-mortar stores. Also, these systems would not store business data from each department in a central place.
So, organizations looking to continue operating on outdated applications or systems will naturally miss out on better opportunities and scaling up. It will limit their business mobility and flexibility as well. Additionally, legacy systems lead to data duplication. The data itself could be inaccurate, outdated, and incomplete. These inefficiencies will hamper your business growth and even slow down the competitive edge.
On the other hand, web-based cloud ERP systems like Odoo allows businesses to access their data from anywhere and anytime from various operating systems and mobile devices.
Simply put, Odoo migration provides organizations with more innovative ways of operating a business while offering technological developments allowing them to maximize value creation across assets and operations lifecycles, eventually improving ROI.
Read more: Odoo Migration: Why is it crucial and how to do it seamlessly
Benefits of legacy application migration to Odoo
Odoo migration allows you to move your legacy applications from their existing tech stack to the latest software platform. Legacy application migration to Odoo ERP is one of the best ways to augment software performance by leveraging the latest technologies. Here’s what legacy system migration to Odoo offers you:
1. Improved operational efficiency
Odoo offers both Cloud and On-premise ERP solutions that enable organizations to address the needs of their customers. Cloud-based ERP is more popular as it offers improved flexibility, accessibility, security, and better operational efficiency. The cloud-based application is also accessible across different devices such as laptops, smartphones, desktops, and tablets. However, you will need a reliable internet connection and a compatible device to access the application anytime and anywhere. Migrating to Odoo will also reduce hardware dependency and is easily accessible.
2. Cost-efficiency
Odoo migration is cost-effective and gives you better control of your operational expenses. You can utilize Odoo’s dedicated financial management, invoicing, and accounting modules and customize them according to your business needs. More importantly, Odoo migration reduces infrastructure complexities and maintenance costs. Also, its flexible nature allows you to pay for the features you are using.
3. Robust data security
As legacy systems include obsolete software configurations and outdated technologies, they are more vulnerable to cyber-attacks. Odoo offers exceptional features such as 256-bit SSL encryption, PBKDF2+SHA512 encryption, RPO/RTO-based backup, and disaster recovery techniques in addition to top-notch network defense against DDoS attacks, SQL injections, and malware attacks.
4. Overcome compatibility issues
Many organizations are likely to face compatibility issues while upgrading their legacy applications due to old software configurations. In addition, given the underlying software architecture, the legacy system also makes integrating new technologies very challenging.
So, legacy application migration seems to be the only option to overcome the apparent limitations and vulnerabilities. As the entire tech is upgraded while moving data to the Odoo ERP software platform, it becomes fully compatible with several applications, enterprise modules, and software technologies. You can also benefit from the multiple, feature-rich modules offered by Odoo ERP to manage various business functions.
Read more: Why your business needs Odoo ERP
In addition to the above benefits, Odoo ERP enables search integration, social networking, and other latest technology functions. Moreover, migrated systems are less likely to become outdated as they can be continuously updated to on-trend technology.
Migrate your legacy ERP to Odoo with Fingent
Odoo ERP caters to the business needs of enterprises of all sizes, and legacy application migration to Odoo will provide you with a string of benefits. These benefits will future-proof your organization regardless of its diverse functionality.
Read more: Why choose Fingent as your Odoo ERP partner
We, at Fingent, provide end-to-end Odoo ERP solutions for industry-specific business needs. We specialize in building custom enterprise applications for varying business needs and render complete support for Odoo ERP integration and legacy application migration to Odoo ERP. To know more about our Odoo ERP migration services, contact us right away.