Author - Trang Vu

Highlights of what's new in Epicor ERP Cloud 10.2.700

Epicor ERP Cloud: Upgrade to 10.2.700 this September

Your Epicor ERP Cloud pilot instance will upgrade to the newest release 10.2.700 this September, so let’s check out some highlights of this version in this article.

 

What’s New In Epicor ERP 10.2.700

More details will be released as we near September 2020, but a few highlights of this Epicor ERP 10.2.700 include:

  • Cloud Read-only Data Access—Safely and securely view your data in a read-only environment. Epicor ERP Cloud Data Access is a new offering that allows for read-only access to your Epicor ERP instance. This new offering gives freedom of access while also safeguarding data security and system integrity. Access to the database will be on a read-only basis, but also near real-time (within seconds) to provide high value, whether leveraged by you directly or by ISV partners via APIs.

  • Epicor Advanced Unit of Measure—Seamlessly conduct business in a different unit of measure. A new capability, primarily aimed at the metals industry and adjacent industries, provides the ability to buy and value material in one unit of measure and transact in a different unit of measure.

  • Epicor Data Analytics (EDA) Financial Reporting—Budgeting, forecasting, and planning simplified. EDA Budgeting and Planning will provide an easy-to-use solution for budgeting, forecasting, and planning. With EDA Budgeting and Planning, you will be able to create financial budgets from scratch or prior year actuals and generate a budgeting workflow process, eliminating the need for Excel spreadsheets.

  • Epicor Kinetic—Continuing the journey to provide a modern and intuitive user experience with Epicor Kinetic. With this release, Epicor Kinetic is focused on the transformation of maintenance screens and quote to cash process forms targeting high-impact maintenance and entry screens. New enhancements will be made to Epicor Application Studio, which allows you to tailor Kinetic forms with low/without code that won’t break during an upgrade.

 

Source: Epicor Software Corporation.


Data V Tech is the authorized partner of Epicor Software Corporation in Vietnam. For further information about the upgrade of Epicor as well as other services, please feel free to contact us.

Compare ERP system and accounting software | ERP vs. accounting software

ERP software vs. Accounting software

Introduction

If you want to automate your business operations but still can’t make decisions between Enterprise Resource Planning (ERP) and accounting software, here is a comparison that might help you.

What is Accounting Software?

Accounting software functions as a solution for the finance and accounting department. Thus, it deals with almost all financial and accounting issues of a company, for example:

  • Accounts payable
  • Accounts receivable
  • Cash flows
  • Ledger and balance sheets

Furthermore, after data collection, accounting software can process important financial data to produce financial reports, such as balance sheets, income statements, profit and loss statements, and statements of cash flow. As a result, you can check the company’s financial health easily, which helps speed up the decision-making process while reducing the administrative labor cost.

The market leaders of accounting software around the world are Quickbooks and Xero. However, in Vietnam is MISA the most popular.

What is ERP?

ERP software is usually a comprehensive solution for multiple departments of an enterprise. For example, Epicor ERP comprises a number of modules, namely, financial management, supply chain management, customer relationship management, project management,  production management, product data management, human resource management, sales management, service management, and planning and scheduling. All of these modules share a single integrated database and are customizable with regard to the need, size, and industry of the enterprise. Therefore, an ERP system can help increase productivity thanks to the automated cross-department data transmission and facilitate the business scale-up.

Epicor ERP 10

 

Comparison between ERP and accounting software

  1. Software scope – It is clear from the examples aforementioned that an ERP system includes accounting software.
  2. Benefit scope – Accounting software produces financial reports which give managers an insight into the enterprise’s financial health. On the other hand, an ERP system collects data from all departments and then generates reports on all operations of an organization. Thus, managers with the assistance of ERP have a more thorough overview of the company’s status. At the same time, they can make more accurate and effective decisions.
  3. Industry-specific design – As mentioned in the example of Epicor above, ERP is customizable to meet the needs of each industrial market and each user. However, accounting software rarely allows you to personalize its functions that way.
  4. Price – For those differences, it is understandable that ERP is more expensive than accounting software.

 

Conclusion

To sum up, you should consider implementing accounting software if your business is small, and your budget is tight. However, if you plan to scale up your business in the long run, it is worth investing in an ERP system. And if you still can’t make decisions which one you should have, contact us! You are more than welcome at Data V Tech!

 

Content writer: Ngoc Trang Vu

 

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Why ERP and eCommerce Integration - Benefits of ERP and eCommerce Integration

Benefits of integration of eCommerce and ERP

Numerous retailers have implemented eCommerce to gain bigger market shares in this digital world, and many of them have even gone further by integrating their platforms into an ERP system to scale up the whole business. Let’s check with Data V Tech the benefits of such an integration in this article:

 

What is eCommerce?

ECommerce is an online “supermarket” where consumers can do shopping by some simple clicks and online payment or payment after each successful delivery. On the other hand, it has become an effective tool for many salespeople. Indeed, it can generate revenues by more significant speed and volumes than ever in case of successful implementation and proper utilization. One of the most popular platforms is Magento – a unique solution appropriate for businesses of various sizes.

While Magento and many other platforms are scalable in terms of user experience, they rarely support the accounting department either to speed up the process or simply to provide accurate data. Thus, it is usually recommended that retailers should have their platforms integrated into an enterprise resource planning – ERP –  system to meet the accounting needs in such a case.

 

What is ERP?

ERP functions as a central database supporting all essential departments of an enterprise, including sales, marketing, finance and accounting, human resources, and logistics at all hierarchical levels. Among many ERP systems, Epicor ERP is known for its capability of simple and effective integration with other applications, such as Magento or WordPress. Since one of Epicor ERP’s outstanding features is its financial management, a retailer with Epicor’s support can easily and seamlessly track, store, analyze, and report financial records. In other words, you can automate many financial tasks.

 

Why does ERP and eCommerce integration benefit your business?

Imagine eCommerce is like a front office of salespeople, which interacts directly with customers, and ERP deals with the back-office operations. Moreover, the integration of these two applications will transmit your essential data automatically. Here are the benefits of ERP and eCommerce integration in more detail:

  1. No Duplicate Data Entry – When the two applications integrate, you can enjoy the automation of your data flow. That means, your accountants can save time entering data and instead, start working on more complicated tasks.
  2. Fewer Mistakes – Manual data entry is a tedious task that you either have to spend a lot of time checking and rechecking or can hardly avoid errors. Needless to say how important it is when you present, e.g., the tax reports with more accurate data.
  3. Comprehensive Financial Reports – It is true that both applications can provide you with a financial report. However, with ERP, and particularly Epicor ERP, your report will be more comprehensive and accurate as it is adjustable to the national tax system.
  4. Increased Automation – An ERP system can do more than what eCommerce offers as it simplifies accounts receivable and accounts payable, reduces your overhead, and improves cash management as well as cash flow issues.
  5. Better Control of your Financial Status – An ERP system allows you to easily track specific financial transactions. Furthermore, you can see the details of every financial transaction, incl. who, what, when, and where.
  6. Better Control of your Business – Overall, ERP empowers eCommerce retailers by more seamless automation and more accurate data as well as reports.

Final Thoughts about the necessary integration of ERP and eCommerce

For all aforementioned advantages, it is time for you to consider implementing an ERP system that is integrable with your existing eCommerce platform. In case, you are still reluctant for some questions, don’t hesitate to contact us! We would love to assist you.

 

Content writer: Trang Vu

erp market research 2025

ERP Software Market Research by 2025

NEW DELHIDec. 2, 2019 /PRNewswire/ — According to a new report Global ERP Software Market, published by KBV research, the global ERP software market size is expected to reach $70.3 billion by 2025, rising at a market growth of 10.5% CAGR during the forecast period. The ERP market has grown rapidly over the past decade with providers introducing enterprise-wide solutions. These providers ensure that ERP solutions have a wide range of features, can be incorporated into other enterprise solutions, and can be tailored to growing business needs.

The on-premise market dominated the Global ERP Software Market by Deployment Type 2018. Cloud-based solution, nevertheless, is currently considered to be a cheaper alternative to on-premise solutions, and several small players appear to be assured of cloud data privacy. (See Cloud Epicor ERP) With developments in technology, a more advanced approach can lead to faster implementation for different ERP applications. As a response, ERP providers will deliver tailored solutions to cater for a large number of vertical markets, resulting in more tailor-made ERP solutions.

The finance business role has been the largest contributor to the ERP software market in 2018. It is expected to remain dominant over the forecast period also. This trend can be associated with the increased adoption of the finance module in most companies to minimize the burden of financial functions and gain overall business expertise. However, the human resource (HR) module is projected to see the highest growth due to ongoing business expansion in developing economies.

The Manufacturing market dominated the Global ERP Software Market by Industry Vertical 2018. The Retail & Distribution market is witnessing CAGR of 9.3% during the forecast period. Additionally, The Healthcare market is expected to witness a prominent CAGR of 10.9% during (2019 – 2025).

The North America market holds the major market share of the Global ERP Software Market by Region. The Europe market is expected to witness a CAGR of 9.7% during (2019 – 2025). Asia-Pacific, however, is projected to grow at the highest CAGR during the forecast period due to the large involvement of small and medium-sized enterprises. These companies are turning towards hosting ERP solutions to handle their business processes effectively, especially in developing countries like IndiaChina, and Singapore.

KBV Research has introduced the Subscription-Based Model which aims to offer market intelligence to its clients ensuring a convenient and economical approach.”

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Workday, Inc., SAP SE, Oracle Corporation, Infor, Inc., The Sage Group PLC (Sage Software Solutions Pvt. Ltd.), Plex Systems, Inc., Epicor Software Corporation and Unit4 NV.

Global ERP Software Market Segmentation

  • Solution
  • Services
  • Finance
  • Supply Chain
  • Manufacturing Module
  • Inventory Management
  • Human Resource
  • Customer Management
  • Others
  • On-premise
  • Cloud
  • Hybrid
  • Large Enterprises
  • Small & Medium-Sized Enterprises
  • Manufacturing
  • Retail & Distribution
  • Healthcare
  • BFSI
  • Telecom & IT
  • Government & Utilities
  • Aerospace & Defense
  • Others
  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
  • Microsoft Corporation
  • IBM Corporation
  • Workday, Inc.
  • SAP SE
  • Oracle Corporation
  • Infor, Inc.
  • The Sage Group PLC (Sage Software Solutions Pvt. Ltd.)
  • Plex Systems, Inc.
  • Epicor Software Corporation
  • Unit4 NV
  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Source: KBV Research

data activities for erp

Data Activities for ERP Solution Implementation

Why Your Data Activities Need to Start Long Before You Bring on an ERP Solution Provider?

Whether you are migrating to an ERP system for the first time, or the nth time, you need to do certain data activities. Here are 5 reasons why you should put significant pre-project effort into streamlining your material and material-plant combinations.

Data quality will improve

When an organization puts a given amount of effort into their data preparation with a focus on a smaller data footprint, the relative effort per material-plant combination will increase. Thus, the overall data quality will improve.

Ongoing data maintenance will decrease

If you have a smaller data footprint, the ongoing data maintenance will continue to be smaller going forward.  Consider, for example, how every manufactured material requires a BOM for every plant.  Of course, if multiple plants routinely manufacture a material, then you should set up and maintain the material-plant combinations. All require BOMs.  If, however, you are contemplating setting up a material-plant combination because “one day we just might want to manufacture this part at another plant”, I caution against that.

I have seen far too many “maybe” scenarios never happen. The data maintenance team is saddled with the creation and ongoing maintenance of never-used data elements for the life of the ERP system.  This is a tremendous waste of valuable data maintenance resources.  They should be laser-focused on the critically important data rather than diluting their efforts with the “might never happen” scenarios.

Then you will see the “skeletons in the closet”

To properly streamline materials and material-plant combinations it is necessary to thoroughly investigate and characterize where and how you use materials.  The fact that a given material has inventory means something must be done with it either before or during migration.  If the inventory is healthy and active, then setting up the materials and migrating the inventory to the new system makes sense.  If the inventory is inactive and/or obsolete, however, then the organization must decide what to do with it.

Can the product be reworked and sold, or must it be disposed of?  Equally important is understanding how it came to be.  Was this the result of an over-make by Manufacturing? A poor forecast by Sales?  A canceled sales order?  A quality issue?  Have we found the solution to the underlying cause, or is it continuing?  Is this symptomatic of a larger underlying issue?  Understanding and addressing these sorts of questions will provide great insights into both the organization’s capabilities and mindsets.  This is often a rich source of improvement opportunities and organizations are wise to address these deficiencies early and often.

Product portfolio improvements naturally follow

In characterizing materials, it is helpful to define the specific attributes used to identify individual products.  In doing so, it is common to find that two or more materials have (mostly) the same attributes.  This implies that there are either redundant materials or that some important and distinguishing attributes are missing.  Regardless of which situation it is, just the mere process of chasing down that answer often brings about an enlightened understanding of the product portfolio and leads to questions such as “why do we have so many materials that appear to be so close in fit, form, and function?”  Addressing that question satisfactorily can take months. Thus, you should finish it before the formal ERP project kicks off.

It will reduce operational mistakes

Most ERP systems have advanced search functionality that enables users to rapidly find materials, plants, storage locations, and the like.  Unfortunately, most ERP systems don’t have a foolproof mechanism to help users discern between material-plant combinations genuinely intended for use and those set up “just in case someday we might want to use it”.  Therefore, having both flavors of choices available to users will possibly result in mistakes.  The best way to avoid these types of mistakes is simply to not even set up non-intended options in the first place.

Contact us here for the best ERP consultancy

Source: ERP news

Insights 2019 with Starbucks Coffee CEO & Founder

Epicor Insights 2019 provided us with fruitful training sessions and especially an interesting talk with Starbucks Coffee Founder Howard Schultz. Also in this conference, it is announced that E10.2.400 will have REST API version 2.0. Data V Tech team is very excited to share further information on the updated Epicor ERP when being back to Vietnam.

Insights 2019 training session 2
Training session
Insights 2019 Starbucks Coffee founder Howard Schultz
Starbucks Coffee Founder Howard Schultz – Insights 2019 guest
Insights 2019 training session 1

We worked hard and still felt fresh thanks to Epicor’s excellent organization. Apart from training sessions, we did have great time in Epicor Concert, to relax and to network. We just wish that everyone could have joined us!

This is the beginning of the concert before we threw ourselves into the crowd and music.

Data V Tech at Epicor Insights 2019

Data V Tech Solutions is one of the very few Vietnamese software companies attending Epicor Insights 2019 in Mandalay Bay Resort, Las Vegas. This world’s largest conference on Epicor customers takes place from April 15 to 18.

We are eager to meet over 4000 Epicor users for sharing, networking and fun. As Epicor’s authorized partner in Asia Pacific, we are ready to share the insights of Epicor implementation in regional context. Learn with us about the Epicor solution customized for your working culture and master your own for your business. Join us to enjoy a new way to success, advance and progress!

We are glad to introduce our soon coming Vietnamese pages. This is a further step in our regional plan. Hereunder is our very first blog for the Vietnamese speakers.

 


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data v tech new domain

Data V Tech New Domain

Data V Tech Solutions, Epicor ERP partner in Vietnam, is in a transition to change our domain from https://datavtech.com.au to https://www.datavtech.com recently. You may see non-secure web page appears when entering https://datavtech.com.au. If you further proceed to the page, you will be redirected to our new domain. We apologize for any inconvenience caused.

We expect to complete this transition within May 2019.

In the meantime, we are excited to announce that Data V Tech will be attending Epicor Insights 2019 conference. We will be sharing news and information in our next blog post. Stay tuned!!!