We, Data V Tech enginners work hard and still stay happy thanks to many inspirational quotes. Here are some of the best quotes for engineers that we would like to share with you.
“Inspirational quotesinspire and motivate us to make better decisions in life. They also help us to be aware of negative conditions like stress and depression revealing how futile such things are and there is a choice to be happier. These days people are working like robots without a directional goal with the sole reason to earn but without the passion involved. Humans are blessed with infinite capabilities and we are yet to realize them. So, take a lesson from these motivational quotes that help you lead a better life.” (Quotesempire.com)
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Like many other areas of technology, artificial intelligence and machine learning are on the verge of transforming ERP business management systems.
Yours will see some of these innovations when existing software platforms are upgraded and others rolled out in new products.
Almost every new piece of software on the market by the end of 2020 will leverage AI technology in one way or another, according to an analysis by Gartner. And by the end of 2021, 80% of all emerging technology will use machine learning as part of its functionality.
It’s obvious, then, that the next generation of centralized ERP (enterprise resource planning) systems that manage a company’s business functions from sales to human resources will benefit from these breakthroughs
The Rise of Chatbots
One of the areas that have seen the most progress in CRM customer management systems, where chatbots, which simulate conversations with humans, handle many customer queries and radically reduce waiting times for live personnel.
Chatbots are becoming ubiquitous in customer service scenarios, and the data they generate is forming the basis for new improvements.
Beyond the front end of your business, AI can also achieve considerable efficiencies within your overall ERP setup. Using the data available to your company from existing customer interactions, it can provide new opportunities for sales and marketing teams.
Artificial intelligence also makes inventory management more efficient. Some of the tasks supported by ERP function in the nexus between cash reserves and stock, and between overproduction and underproduction. The addition of AI, however, can deliver even more efficiencies, including an additional platform for analysis incorporating complex trends that can, in turn, provide your management with new capabilities in forecasting.
All this can – and should – be integrated into your ERP platform.
Fewer Storage Headaches
With more efficient inventory management, fewer issues will arise around storage capacity or compensating for unanticipated shortfalls.
Another area where AI is already making an impact in the ERP universe is its significant contribution to reducing costly manual errors. ERP has already seen higher levels of automation evolving into development over the last five years or so, but AI breakthroughs offer the potential for even further levels of automation.
Are we yet in a position for AI to manage much of your production processes without the need for human intervention? I have to answer…not yet.
But in some industries, such as auto manufacturing, increasing levels of automation have meant that artificial intelligence could have a quicker impact on ERP platforms than on others.
Artificial intelligence is poised to become a ubiquitous component in the next generation of technology applications. This includes ERP platforms.
AI will be introduced in your ERP system gradually, partly by updates and partly by new product launches.
AI will bring significant benefits to ERP platforms, drawing strategic insights from operational and customer data and making production processes far more efficient. It will also help reduce manual errors.
The technology also will bring more integration benefits, linking data from the customer relations segment of your business with the product and delivery side.
Enterprise Resource Planning (ERP) in particular has a lot to gain from adopting an open approach to new innovations. Here are the five technology trends that have shaped the development of ERP:
1.The Internet of things
The Internet of Things (IoT) is a concept that provides objects, such as cars and electrical appliances, with the capacity to transfer data over a network without requiring human interaction.
Thus, the integration of IoTs into ERP can help businesses grow to a new level. For example, you can then easily access information such as location, usage, and performance. As a result, ERP allows organizations to identify issues, i.e., locate unused assets and detect maintenance needs.
While much of the attention generated by wearables has focused on consumer propositions like fitness trackers, there are also a host of applications in the workplace. Augmented Reality enabled glasses like Google Glass will enable hands-free operations which can be of great benefit for many blue-collar workers.
Smartwatches are more easily accessible and are less prone to ‘accidents’ such as misplacement. Thus, they represent an advance in comparison to PDAs and smartphones. Devices that monitor external factors like UV exposure or heat can help improve the management of employee health.
3.Big data analytics
Organizations have become more dependent on IT. Therefore, they have accumulated a wealth of data that has been traditionally underutilized. As the IoT connects tools and employees to the internet, this data generation will grow exponentially.
By employing analytical tools, organizations can begin to use this data to make accurate predictions that form the basis of a more intelligent approach to business strategy.
4.The age of context
With businesses increasingly operating in a multichannel world, understanding the context is crucial to your performance. ERP software developers are working hard to find the best ways to show you:
the situation you’re in,
what information you would like to see, and
how you would like to see it.
PCs and mobile apps will increasingly integrate context-aware functionality to anticipate user needs and improve the efficiency of day to day tasks.
For example, a field service engineer will automatically receive all the asset data, job instructions, and customer relationship history as soon as they arrive at the repair site.
5.Opening business to innovation
Over the next few years, technology like wearables, the IoT and big data analytics stand to reinvent business processes across many different industry sectors. Organizations need to keep an eye on technological advances, even those that may seem to be irrelevant.
Here are the world’s 5 most popular providers of ERP customer relationship management – CRM – according to business-software.com
Founded in 1984, Epicor is an up-and-coming player in the ERP CRM space. Recently named in Fortune Magazine’s 100 Fastest Growing Companies list, the company offers a broad range of ERP, CRM, and professional services automation (PSA) solutions to mid-market businesses around the globe.
More than 70,000 companies rely on Infor solutions to meet their most complex needs. Infor’s suite of solutions includes ERP, CRM, enterprise asset management, product lifecycle management, and performance management. The company is a proven leader in the business software field, ranking as the 10th largest software provider in the world with over 8,000 employees and $2.1 billion in annual revenues.
Founded in 1972, SAP is considered the pioneer of ERP. With close to 40,000 employees serving 38,000 customers across the globe, SAP has been commanding a huge chunk of market share since ERP solutions first came to prominence. The company’s ERP CRM suite rounds out its broad portfolio of business applications, enabling companies to truly improve every single aspect of their operations.
4. NET SUITE
Since 1998, NetSuite has been a leader in providing fully integrated enterprise-quality technology solutions to small and mid-sized businesses. The NetSuite family of applications includes packages for accounting and ERP, CRM, and e-commerce. The company’s ERP CRM offering, as well as its other solutions, is designed to provide powerful capabilities in an affordable, easy-to-use environment.
Since the establishment over 30 years ago, Oracle has been providing innovative business software solutions. The software giant has recently extended its portfolio of ERP solutions. Particularly, it has acquired a number of companies such as PeopleSoft, Siebel, and JD Edwards. These mergers, as well as Oracle’s take-over of [email protected], a leading call center solutions provider, have given the company a solid edge – and a broad portfolio of offerings – in the ERP CRM market.
Reliable cash flow is essential for any business. However, continuous growth can be a challenge when the staff is busy with doing so manually or on outdated systems. Epicor 10 ensures a faster and more efficient cash flow through purchase order reporting, planning reports, and automated processes. It fully integrates warehouse management software capabilities. You usually find such functionality in purpose-built, stand-alone warehouse management systems. Furthermore, you can track overdue invoices that have been missed for human error.
Accurate and comprehensive reporting is pivotal to businesses. ERP financial reporting and analytics can help your staff make more informed choices. Furthermore, they can assist decision-makers by ensuring timely and accurate financial information. This reporting can also be real-time. This means that the key personnel can always check their department’s performance against KPIs. Real-time assessment of your fiscal information increases the clarity and flexibility of your department.
One of ERP’s main benefits is the possibility to automate your business processes from a single piece of software. In particular, this is helpful for organizations dealing with much paperwork and multiple software to manage processes. If this rings a bell, automation will help your business to optimize processes and make them more efficient. It will also remove ‘manual’ interventions, minimizing human errors. Automate processes with Epicor ERP and you’ll tap into new possibilities to save money by streamlining and cutting out waste. You’ll free up a lot of time for staff in various areas, e.g., finance, the factory floor, and sales. This means they can spend time on more important tasks.
It should come as no surprise that ERP software can provide a significant boost to your business’ forecasting capabilities. ERP builds up swathes of data to predict future trends and behaviors. You can store, analyze, and present purchase orders, supply forecasts, and inventory records here. This helps your business identify future opportunities and eliminate recurring hurdles that might have gone unnoticed. Having all your financial data at your fingertips is a great way to plan and make smart, evidence-based decisions. Keep this in mind and your business will certainly move forward.
Affecting change on the go
One problem for decision-makers is how to monitor and affect change while out of office. However, now you can integrate modern ERP solutions fully with mobile devices to reduce response times and improve field productivity. In the past, you might have to be in the office or factory floor to have full insight into certain processes. Now your tablet or mobile can access critical information such as billing processes, work order and inventory in real-time. Thus, go mobile and optimize your business processes from anywhere.
It was common that a lack of transparency could hold back businesses in the past. Much of information could flow across departments and along the supply chain. However, key stakeholders usually had little insight to make informed decisions.
The present cloud-ready innovations, such as the Internet of Things (IoT) and mobile devices, have increased transparency. Decision-makers have access to all necessary information. In turn, the business can make real-time choices after reducing decision-making to the palms of their hand. That’s how they move forward.
Source: Clear Business Outcome.
For more information on Epicor ERP 10, feel free to contact us here.
Get Shipment function in Invoice Entry and Generate Shipment Invoices enable you to do the same task with some differences. Particularly, you can use the latter process to generate shipment invoices for products or services. It allows you to create invoices directly from packing slips. Furthermore, you can set it up to run at regular intervals.
Path to this feature from the main menu:
Go to Financial Management > Accounts Receivable > General Operations.
Open Generate Shipment Invoices.
Use the Locate Invoice Group option to quickly find a group that
includes a specific invoice. This option locates the group number; you
can then enter this group number on the Group sheet to display all invoices within the entry group.
Path to the Locate Invoice Group:
Go to Financial Management > Accounts Payable >
General Operations > Invoice Entry.
Select Locate Invoice Group from the Actions menu.
Advanced Allocations enhance and simplify the process of creating, calculating, and processing allocations and accruals. This functionality distributes specific amounts posted to the general ledger across various receiving, or target accounts. You can set up as simple or as complex an allocation structure as you need. By specifically defining the calculating and processing of allocations, you save time and ensure allocations are consistently dispersed across your selected target accounts.
What else can you do with this ERP financial management solution?
It is necessary to set down a list of target accounts and their ratios defining the proportion to divide for each allocation code. Furthermore, you can create a fixed value or a formula containing the arithmetic operators and operands necessary for completion of the expression. Such a formula then can help determine if each allocation code disperses amounts.
The available operands are fixed values, balances of specific GL accounts, non- financial data, and summary balances generated across several GL accounts.
You can define the groups, or batches, of allocations that need to run simultaneously or sequentially by using Allocation Batch Entry. After creating the batches, you set up a schedule to define the fiscal year for these allocations.
In addition, you can configure the allocation process which allows automatic regeneration of a batch. Particularly, after creating a batch and assigning allocation codes to it, select Generate Schedule from the Actions menu to specify its fiscal periods.
You can organize the allocation codes within each batch into different levels or tiers. Particularly, the preceding tier(s) generate journal details for their successor(s). Each tier processes one level of allocations. Furthermore, apart from the first tier, they follow the allocations of their predecessor(s). The process continues until all tiers have generated allocation amounts to the journals set up for each tier level.
After you group allocation codes into batches, use the Generate Allocations program to process the allocation amounts and post them to the general ledger.
However, you can first use the program in a simulation mode. In this mode, you calculate and save allocation transactions without affecting the general ledger. To do this, you must select the Simulation check box when running the Generate Allocations program.
Simulated results are saved separately from the general ledger. You can then verify the allocations in the Allocations History Tracker and make adjustments before you process the results against your actual data.
The Allocation History Tracker stores all allocation transaction information and provides references to the source data. Particularly, you can view the information on allocations with dates and user IDs.
Use Asset Mass Changes to issue mass changes to assets. Such changes include changing the depreciation parameters of an asset, asset group, or asset class. This update impacts only the values in the default register while leaving all other registers unaffected.
You can use filters to specify the target assets, asset group, or asset class. Furthermore, you can use replacements to select the target assets and, at the same time, assign values to those assets.
Path to this function from the main menu:
Go to Financial Management > Asset Management > Setup.
The Auto Retrieve Invoices in the AR/AP Invoice Entry programs helps you activate automatic retrieval of invoices for the current group. After the activation, recalculation takes place whenever a line is saved.
Path to this function:
Open Invoice Entry.
Select Auto Retrieve Invoices from the Actions menu.
You will see a check mark after enabling this feature.
The Balance Control feature in the General Ledger module enables you to use multiple balance control methods. Available methods consist of:
Detail Balance – Maintains segment balances for use on reports and trackers.
Summary Balance – Summarizes segment balances for use on reports and trackers.
Opening Balance on P/L – Maintains year-end segment balances for expense and revenue accounts.
Additionally, you can configure specific accounts to maintain daily balances. Moreover, this feature displays balances through chart, summary, or detail views.
Balances are automatically reset at year-end. However, you can also share balances between periods on a Profit and Loss account. Last but not least, you can maintain a cumulative balance within this account.
Path to this feature from the main menu:
Go to Financial Management > General Ledger > Setup.
This Automatic Transaction Reversal helps you cancel a posted journal. Here are the typical situations when you need this feature:
When you preview a consolidation in an intermediate book, you may discover an error. Reverse the consolidation within the intermediate book before transferring the data to the target book. After you make the changes you need, run the Consolidate to Parent program to re-post.
If you have already consolidated to the target book, you can first reverse that consolidation. Next, do it again in the intermediate book (a user within the source company launches this reversal process). When the data is updated in the source company, it is again possible to rerun the consolidation.
In addition, you can reverse the most recently posted journals. After you make the necessary corrections, you can then re-post the journals. This prevents values from duplication within the posted results.
Available cancellation modes include:
• Reverse Transaction – Posts debit amounts equal to credit amounts on the original journal and credit amounts equal to debit amounts on the original journal. In Russia, this mode is known as ordinary storno. For example, you estimate payroll as a $1000 credit to the payroll accrual. When reversed, a second entry is created as a $1000 debit to the same account.
• Reverse as Red Storno – Posts transactions that contain reversing amounts. This type of journal contains a negative debit or credit line when the debit or credit line on the original journal increases the account balance. The journal contains a positive debit or credit line when the debit or credit line on the original entry decreases the account balance.
For example, a posted journal line debits an asset account. A red storno journal posts a negative debit line to the same account to cancel the increase from the original detail.
Path to this feature from the main menu:
Go to Financial Management > General Ledger > General Operations.
Open Automatic Transaction Reversal.
You can use the GL Batch Balances Process to maintain the GL balance records in batch mode. This feature helps to improve performance in companies with a high volume of daily transactions and in companies which do not find it necessary to review GL transactions on a daily basis.
This process can run manually. Furthermore, you can also set the schedule to run it at various intervals. It is possible to indicate whether it should be a recurring process.
Path to Batch Balances from the main menu:
Go to Financial Management > General Ledger > General Operations.
You can use the Copy Invoice Lines option to adjust public error invoices. Particularly, you can add adjusting entries to a miscellaneous invoice, shipment invoice, or credit memo. To do this, select the lines, copy and paste them to the original invoice.
You can choose to create the adjusting line as a reversing entry. This can result in the creation of a zero- balance invoice. Adjustments only affect financial processes.
Adjustments have no effect on shipments or other processes connected with the original invoice.
Path to the Copy Invoice Lines:
Go to Financial Management > Accounts Receivable > General Operations > Invoice Entry
The Currency Account option allows you to set up natural segments to hold balances in multiple currencies. If a company is generating currency transactions, they may need to manually add or adjust the GL in a non-book currency.
To do this, they need to set up the natural account as a currency account. After that, you can revalue the currency balances via the G/L Currency Revaluation process and use them in General Ledger reconciliation.
The Aging sheet available in the Customer Tracker program displays AR invoice aging information for a selected customer. It calculates the year to date totals on the current invoices that the customer has paid. Moreover, it lets you compare these amounts to last year’s totals.
Path to the Aging sheet:
Open the Customer Tracker.
Navigate to Financial > Invoices > Aging.
In addition, the Aging sheet is a very useful tool to view AR aging by customer in a dashboard view.
The Advanced Allocations distributes specific amounts available in the general ledger across various receiving, or target accounts. Through this feature set, you define a series of allocations, which first pull amounts from financial source data, and then spread these allocated amounts across multiple accounts.
Moreover, you can set up your allocation structure to be as simple or as complex as you need. The feature set includes creating allocation codes, generating allocations, and viewing the history.
You can use the General Ledger Import process to import data from other applications into Epicor. The file you import must be a comma delimited one (CSV) and follow the GL import file template.
After you submit the General Ledger Import process, the changes update the application. If you want to review imported data before it posts to the GL, do not select the Post check box. Then, the imported group is available to review and post within GL Journal Entry.
Path to this function from the main menu:
Go to Financial Management > General Ledger > General Operations.
Here are some tips for leaders and CEOs to choose the best vendor with the best ERP solution for their companies. These tips are based on customers’ feedback and recommendations, namely those onTrustRadiusandFeaturedCustomers.The order is tentative. Thus, each company can have its own schedule based on the information available to them.
1. Discuss among leaders
It is crucial that leaders and investors have information about the process to choose the best ERP option and vendor. That means, every step should be as transparent as possible.
2. Assess the needs
You might want to do a SWOT* analysis of business and operations before doing anything else. Notably, it is necessary to detect the need to innovate the company’s operations.
It can be the company’s weaknesses or challenges, possibly due to some disruptors or competitors’ sudden growth. It can also be the opportunity to scale production or improve performance due to new technologies or policies in your sector.
3. Determine own criteria to choose the right ERP solution and vendor
The clearer criteria you have, the faster you can choose the appropriate ERP solution as well as the best vendor. Furthermore, the solution requirements can also serve as the benchmark for the latter. They can be features either in general or specifically for a department, budget, platform, schedule, and any concerns that your team might think of.
4. Seek consultations
It is optimal to search for the vendors in your country to save travel costs and misunderstandings during implementation. However, it would be better to choose the best in your region if you are a transnational company. That means widening the geographical scope of your search.
Do not hesitate tocontactvendors by leaving your email address or phone number. The best ones usually reach you as soon as possible to learn more about your needs. In addition, they are proactive in arranging phone calls, in-person or Skype meetings, or online demos.
The first impression might also be one of the tips for the best ERP solution and vendor.
5. Shortlist the best ERP vendors
The information and consultation services you have received or experienced are the very first clues to narrow down your list of vendors and ERP solutions to follow up.
6. Prepare questions
It is better to collect questions from all departments where your company wants to make a change. Besides, it is also recommendable to involve all representatives in the meetings. That would save time to make the final decision.
7. Check vendor references and/or make decisions
You might require the vendors to give you some references. But, in reality, the expert ones are usually so proactive that they will share their achievements with you even before being asked.
Once you have made a decision, work closely with your ERP vendor to implement the solution. You can then start mapping your critical milestones and recording your course to success.
* SWOT refers to strengths, weaknesses, opportunities, threats.
This post continues discussing the highlights in Epicor 10.2.400. (Here is the first part.) Especially, those related to Epicor ERP scheduling boards, mobile application, REST v2 OData v4 and Office Excel 365.
New Epicor Scheduling Boards
One highlight in Epicor 10.2.400 is the completely new design of scheduling boards. It enables you to easily detect overload problems and hanging conditions. You then can analyze schedule changes concerning cost and throughput before firmly committing them.
So what are the specific Epicor 10.2.400 major features in these scheduling boards:
You can drag, drop or drilldown the schedule for multi-level assemblies and operation details.
The new timeline enables you to observe short-run operations, based on which you can analyze the long-run impacts of operations.
The view indicators, including late status and material availability, proactively send you notifications of potential problems in the schedule. Moreover, you can customize colors for your personal denotation. For example, you can categorize real, possible or delinquent load by task or operation.
You can flexible schedule and adjust the schedule for a single task and for the whole plant. In addition, you can lock tasks for key operations or define your priority and level capacity loads by resource/resource group.
In case of overload or needs of overload alleviation concerning resource/resource group, you can simply drag and drop load hours forward or backward.
These boards allow you to display each date and resource/resource group and access resource/resource-group as well as job scheduling information. As a result, you can check the causes of the problem and adjust the schedules.
The what-if (or potential/possible) mode also helps to analyze potential bottlenecks before you finish the actual schedule.
However, in case of preference of the Classic Scheduling Board, you can easily find that option in the Menu. It is the button ‘Classic’.
Mobile application for time and expense
Some Epicor 10.2.400 major features include new time & expense mobile application. On the one hand, this function target at Requestors, whose job is to compose and send timesheet or expense reports for approval. On the other hand, its objective is to help Approvers to approve or reject timesheet or expense reports more easily.
Furthermore, this application is compatible with Apple iOS 11, 12 devices and Google Android 7.0, 8.0 ones.
REST v2 OData v4
The current upgrade in REST API is another Epicor 10.2.400 highlight. Its present version 2 takes advantage of the newest OData v.4. Thus, the way to specify the current Company as well as custom ERP-specific parameters in REST request URLs becomes friendlier. However, you need to review the changes properly when upgrading to version 2.
Here are the Maintenance Screens in Epicor 10.2.400:
API Key Maintenance
Access Scope Maintenance
Office Excel 365
Excel 2016 or higher versions are accessible now in Epicor 10.2.400.
Epicor 10.2.400 highlights – to be continue
You can easily find a number of new features after upgrading your system to this new version. Though we cannot provide a full list at the moment, we are always here to listen and support you. Feel free to contact us here.
All photos and explanations belong to EpicHelp user hasokeric.
Users’ reviews so far have showed Epicor ERP is an ideal solution for the manufacturing industry. This software provides solutions in accounting, inventory control, CRM, project management, HCM, business intelligence, supply chain and production management, risk management, and asset management. Its aims are to help enterprises increase profitability, enhance productivity, and manage growth.
72% TrustRadius reviewers using Epicor ERP work for mid-sized companies. They value “Epicor’s immediate access to source data, low-maintenance cloud hosting option, and responsive customer support team.”
Epicor ERP, a great choice for manufacturing companies.
[Our company] uses Epicor ERP across all departments here at Baxter. We are able to do Sales, manage our inventory, purchasing, manufacturing, and handle all functions of accounting using Epicor. We made the decision to go with Epicor in 2008, and went live on January 1, 2010. We have upgraded the software a few times and love the improvements that Epicor continues to make with the software.
Jack PennypackerNetwork Administrator III - Baxter Manufacturing
Currently use Epicor ERP in all of our manufacturing, customer service, finance and engineering departments, some sales also included. Our next phase is to merge Epicor with Salesforce to have it be more seamless.
Verified UserC-Level Executive in Finance and Accounting - Maritime Company
Top rated ERP 2019 – Information for future users
Analysis shows what TrustRadius visitors care the most are product reviews and comparisons. Particularly, 56% read end-users’ feedback while 38% compared between at least two solutions. Such information then helps next buyers make better informed decision when purchasing a product.
Criteria to be top rated ERP software
Here are criteria to become top rated ERP software 2019: Firstly, the products must appear in the top level of their category TrustMap by February 13th, 2019. Then they must receive at least 10 reviews published within the past year with a satisfaction score of at least 7.5/10. Furthermore, they must share at least 1.5% of the traffic in the category.
TrustRadius verifies every reviewer and vets every review before publication. Then the platform marks the products on the TrustMap based on end-user data. Furthermore, the decisive elements are scores of users’ likelihood to recommend and buyer research patterns.