Pharma Pharmaceuticals deploys Epicor ERP

Pharma Pharmaceuticals deploys Epicor ERP

Epicor Software Corporation, a global provider of industry-specific enterprise software, has announced that Pharma Pharmaceutical Industries (Pharma)—a leader in the kingdom’s pharmaceutical services industry—has implemented Epicor ERP to enhance data capture and archiving capabilities, optimise operational efficiencies, and guarantee on-time delivery to customers.
Pharma brings together business leaders and healthcare veterans to offer services to the Saudi pharmaceutical industry that include branding, marketing and sales, warehousing and logistics, facilities management, and regulatory compliance consultancy.
The company’s international reach demanded a new approach to technology to ensure it remained a leader in the new global digital economy. It embarked upon a bold digital transformation journey, with a robust ERP platform as the planned keystone.
“We didn’t have an ERP platform in place and relied on a paper system to manage each department’s activity,” said Tariq Kayyali, quality unit director and ERP project manager, Pharma Pharmaceuticals Industries, whose team of stakeholders focused on linking and integrating department transactions to reduce the time taken to locate vital archived data.
Errors in starting materials and the resulting mix-ups and delays in order deliveries became significant business risks to the company, pre-digitization. The risk of using incorrect or expired material in the manufacturing process was compounded by the company’s inability to accurately control all its assets and due to its tendency to produce inaccurate reports due to manual compilation.
With the support of trusted Epicor partner, Full Insight Technology Solutions (FITS), Pharma deployed a platform that was easy to install, user-intuitive, and provided tight-fit functionality with its needs. Over a period of 10 months, the system was rolled out to 15 users, who all reported ease of use and unprecedented accuracy.
Switching to Epicor ERP has allowed Pharma to smoothly link and integrate transactions across all departments and enhance accuracy in operations and inventory control. Strict audit trails now allow every critical transaction to be traced—to the user, date, and time of action—allowing Pharma to closely monitor related business impacts. Labelling problems have also been overcome, by enabling greater control over purchased and manufactured parts.
“We ended up saving about 30 percent of unnecessary warehouse-team transactions and managed to reduce the time taken to find or track historical data records or transactions, from hours or days to seconds or minutes,” said Kayyali. “We also reduced the risk of mix-up and eliminated the possibility Pharma Pharmaceuticals deploys Epicor ERP to streamline processes and optimise service delivery of using an invalid or expired part as a starting material—which is critical in the pharma industry.”
Having a validated ERP system helps us meet the expectations and compliance requirements of medicinal product agencies, both in the Kingdom of Saudi Arabia and around the world.”
“Remaining relevant in the digital economy is no minor feat,” added Amel Gardner, regional vice president, Middle East, Africa and India (MEAI), Epicor.
“Competitors—especially new market entrants—will not be using manual processes for critical functions. It is therefore vital that all firms digitise as much as possible. Epicor ERP will give Pharma a strong platform for growth and enable it to easily comply with granular industry requirements. The platform is designed to fit every business like a glove, delivering automation and operational enhancements that pave the way to true digital transformation.” — Tradearabia News Service

 

Data V Tech is proud to be one of the leading ERP vendors in the Asia Pacific. We have implemented Epicor ERP for many enterprises and organizations in Vietnam and China, particularly in the pharmaceutical industry. For direct consultation, please feel free to contact us.

Learn about Epicor ERP in the wake of COVID-19 and get ready for the future.

future of ERPs in blockchain

Blockchain And The Future of ERP (Part 2)

In my previous article, I discussed how blockchain helps create legally enforceable trust across organizations. By providing a distributed digital signature capability, enterprise blockchains like Hyperledger Fabric give us a strong foundation to build on.

However, this impressive technology is involved and, depending on the use case, could be a perfect fit or overkill. FIDO devices that are being adopted for user authentication can also be used to digitally sign business transactions, providing a low-cost and easy-to-deploy alternative. Let’s explore in more detail how such solutions might look.

Business View

Let’s consider a large company that’s conducting business electronically with a smaller vendor. The company, let’s call it ABC, is designated as a “holder of records” for mutually signed digital transactions. Based on the nature of the business, the risk of company ABC deleting the records and claiming that no agreement was ever reached is considered immaterial, but both companies want to ensure that the details of the agreed-upon transactions cannot be disputed.

Technical View

First, a quick background on FIDO. The goal of FIDO is to eliminate passwords by introducing new authentication technology based on biometrics and/or special hardware tokens. It may come as a surprise that most of us already have FIDO-enabled devices. Every Android 7.0+ or iOS 13.3 phone, Windows 10 or Mac OS computer is a FIDO-enabled device. Most FIDO hardware tokens cost less than $50. The Chrome, Edge, Firefox, and Safari browsers already have built-in support for FIDO through WebAuthn standard. As such, it’s easy for software vendors to add support for FIDO devices, and it’s a low-cost option for organizations to enable their users to use FIDO devices.

While there is a lot of information online about FIDO as an authentication technology, we are going to focus on a less-known capability of FIDO devices to digitally sign any information we want — in our case, business transactions.
FIDO devices can generate a virtually unlimited number of private/public key pairs that can be used for various purposes. Private keys never leave the FIDO device, and public keys are shared with the target application (e.g., an ERP system). A typical authentication use case involves an application sending a user browser a random string (challenge), asking a user to sign it using the private key within a FIDO device. The application can then verify the signature by using the public key stored for that user. If the signature is valid, it proves that a user is in a possession of the originally registered FIDO device and, in the case of biometric-based devices, the FIDO device successfully verified biometrics (e.g., fingerprints on a phone).

However, we can easily modify the above flow and replace a random challenge with the data we want to digitally sign from our business transaction. More specifically, we can follow the same overall approach as used in blockchain ledgers: Combine all the business data we need to sign using JSON, XML or any other format. Generate a hash of that business data, and then send that hash to a FIDO device to be digitally signed. We can then store our business data along with a hash and its digital signature, thus creating our own digital ledger.

Almost done, but it’s important not to lose track of our final objective: creating trust by making transactions legally enforceable. We can now verify that the transaction was signed by a user with a given FIDO device, but if the dispute goes to court, then we need to undeniably tie it to the organization that a user belongs to (i.e., prove that the company agreed to both this user and this particular FIDO device being used for signing transactions on behalf of the company).

This can be done by creating a file with a user public key and a statement authorizing the user to use it on behalf of his company. After being signed with a corporate certificate the file can be uploaded into an ERP system to prove that a public key is tied to the user’s company. This is a one-time registration process that each user has to go through.

Let’s review how the process would look from an end-user perspective:

One-Time Registration

• A user representing a vendor is set up in company ABC’s ERP system with FIDO authentication. To make it more specific, let’s say a user is using a Windows 10 laptop with facial recognition.

• The system generates a file (could be a PDF, CSR, etc.) that includes the user’s public key.

• A user signs the file with their company (vendor) certificate. This can be done in more than one way. For example, a user may already have a company-issued certificate and use Adobe UI to sign a PDF file. Alternatively, a user may forward the file to the legal or the IT team for a signature.

• A user uploads a signed file into the ERP.

Day-To-Day Use

• A user logs in into the ERP, picks a transaction and clicks on the “sign” or “approve” button.

• Windows 10 confirms the user’s identity through facial recognition and digitally signs a transaction.

• Company ABC’s ERP stores a transaction with a digital signature.

Dispute perspective

In case of a legal dispute, company ABC, as an agreed holder of records, has to produce a transaction along with both parties’ digital signatures. A transaction is digitally tied to a user with a given FIDO key, and that the FIDO key is digitally tied to the vendor’s corporate certificate, thus creating a digital chain directly from the business transaction to the vendor company.

Summary

We’ve already seen software vendors (Oracle and Amazon, for example) expand their solutions to offer new blockchain-like alternatives with the aim of building trust for stored data. However, any lightweight alternative to blockchain sacrifices on some aspects of trust. It’s important to fully understand the level of trust required in a given business scenario and then pick a technology that does it in the most economical way.

Source: Dmitri Tyles


Data V Tech is proud to be one of the leading ERP vendors in the Asia Pacific. We have implemented Epicor ERP for many businesses in manufacturingdistribution, and retail in Vietnam and China. For direct consultation, please feel free to contact us.

blockchain and future ERP

Blockchain And The Future Of ERPs (Part 1)

Let’s start by asking ourselves a basic question: How has the ERP industry been making money since inception? The high-level answer is obvious: by selling solutions for automating business processes within an enterprise. The word “within” is critical. Whether it’s front- or back-office functions, it’s still all about internal business processes. However, most businesses operate within an ecosystem of partners and vendors. With the economy becoming more and more integrated, the need for cross-company collaboration only grows. But how many ERPs today offer a comprehensive set of “out of the box” solutions for automating external business processes? None.

How did we end up with a very mature industry for automating internal processes and a very immature industry for automating external business processes? Why is it that the capability to approve an invoice within the AP department was offered by most ERPs years ago, but if a vendor needs to approve your invoice, it’s likely done via a semi-manual process outside of an ERP even today? What is that invisible barrier that separates often rather similar business processes inside and outside of the enterprise?

It’s All About Trust

Let’s consider a scenario where an ERP used by company ABC offers secure screens specifically designed to make business arrangements with its vendors (deliver or buy goods, approve invoices, etc.). This is not an unrealistic scenario if company ABC is big and has a lot of pull over vendors in its ecosystem. Can’t we then automate business processes between company ABC and its vendors in the exact same manner as if we are dealing with internal automation? It’s not that simple.

Let’s say an agreement was reached through the above solution but later two companies are involved in a lawsuit. Can company ABC use records from its own ERP database to prove specifics of the contract? Probably not, as anybody knows that company ABC can easily manufacture any transactions in its own system (i.e., the above solution is not legally enforceable and has limited business value). The lack of trust between businesses is that barrier that was holding external automation back for so many years. To cross this barrier, we need to make records in an ERP legally enforceable for all collaborating parties.

What About Digital Signatures?

Digital signatures have been around for years and are accepted by courts in most countries. It seems like a great technology for creating legally enforceable transactions. However, it’s rare to see this capability built into an ERP. There are a few reasons for that.

The first challenge is the need to procure and store private/public keys (effectively SSL/TLS certificates) for each user. If a third-party vendor is used, then we run into the cost, privacy, usability and scalability concerns. Existing software used for digital signing is generally built around documents (i.e., real legal paperwork), but this paradigm doesn’t necessarily scale well or provide the necessary user experience if we need to sign transactions in an ERP.

Is there a light at the end of the tunnel? I believe there is, and it comes from what, on the surface, looks like an unrelated technology — FIDO (fast ID online) or Web Authentication standard. While the primary purpose of FIDO is to solve the authentication scenario by digitally signing a random string sent by a server, FIDO devices can also be used to digitally sign any business transaction. Imagine a vendor digitally signing any cross-company ERP transaction using facial recognition or a fingerprint scanner on a phone without the complexity or inconvenience of a third-party solution.

Why Blockchain?

If digital signatures combined with FIDO authentication devices are so great, then why do we need to talk about blockchain? It all comes down to one simple scenario: While a digitally signed transaction can’t be altered without detection, it can still be deleted without a trace.

In other words, regardless of how unbreakable the digital signature is, if it’s only stored in one place that’s owned by an interested party, we still can’t achieve legally enforceable trust. This is exactly where blockchain comes in, since it is essentially a distributed digital signature. In case of enterprise blockchains, such as an open-source Hyperledger project, each participant in the blockchain has their own node and stores their own copy of all signed transactions, protecting themselves from a scenario in which company ABC may decide to delete its own entry.

Incorporating blockchain technology into ERP products while allowing partners in the business ecosystem to store their own copies of digitally signed transactions in an economical way would be a transformational step for the ERP industry. It would open the door for ERP systems to no longer be internally bound but instead focus on and automate the entire end-to-end business processes.

We see this trend starting already with large companies (e.g., in the supply chain sector) initiating projects to create blockchain-based solutions and include smaller companies within their ecosystems. However, few organizations can afford such projects. While major cloud providers are already offering blockchain as a service, it’s a PaaS-type offering. This means you get blockchain nodes deployed for you (which certainly helps), but all the business rules (smart contracts), flows and interactions need to be designed per the needs of a specific project. Not only that, but the company driving the project needs to get buy-in from its partners to participate in the blockchain and maybe pay for their nodes.

We can think back to the days when ERPs were not widely adopted and companies typically had their own homegrown solutions for HR, billing, payroll and other workplace functions. This is where the blockchain technology is today, with larger enterprises seeing so much value in automating external business processes that they are willing to invest in and create their own unique homegrown solutions. But what we really need is for ERP vendors to step up, think through most typical business flows and deliver those blockchain-based solutions as SaaS offerings with all the smart contracts and flows provided as part of an ERP.

Source: Dmitri Tyles


Data V Tech is proud to be one of the leading ERP vendors in the Asia Pacific. We have implemented Epicor ERP for many businesses in manufacturingdistribution, and retail in Vietnam and China. For direct consultation, please feel free to contact us.

signs to replace ERP software systems to enhance manufacturing

5 telltale signs it’s time to replace your ERP system

New software, systems enhance responsiveness, save time for stampers and other manufacturers

Most stamping manufacturers have integrated an enterprise resource planning (ERP) system of some sort over the last decade. Most likely it ushered in operating system improvements and efficiencies not experienced before. However, modern technology improvements—especially Industry 4.0—may have made those legacy ERP systems obsolete.

Now it’s easier than ever for manufacturers to update their systems using the features of Industry 4.0 so they don’t have to rely on outdated ones. Today’s ERP software harnesses data so that manufacturers can make better decisions, faster.

Here are five signs that your ERP system is outdated.

1. Lack of Real-time Data

Speed to market and critical decision-making during the production process are competitive advantages. That means every minute counts. Time is money, and digging through data is tedious and time-consuming.

That critical time is wasted when staff on the production floor and in the front office have to wait for reports to be generated to make their next moves. Modern manufacturing ERP software offers individual users access to the reports they need at the click of a mouse from their own dashboards.

Cloud access and mobility features are also important for those in the field, whether for the sales team, remote employees, or technicians serving a client. Having up-to-date business intelligence about inventory levels, sales orders, and where things are in the production cycle is critical.

Your ERP system should allow access at the touch of a button and on any mobile device to these and other types of information to help you make better decisions, capture more sales, and satisfy customers.

2. Too Complex for Users

Is everyone across your organization comfortable using your ERP software? Do they use it at all? Or are you finding more and more employees using workarounds to accomplish tasks that your ERP system should be capable of handling?

You also may find yourself hiring software programmers to write new capabilities into your ERP software. Inevitably, such efforts will likely make it, even more, complex—depressing user adoption instead of enhancing it.

Lack of employee buy-in and chronic complaints about how challenging a system is and how much time it takes to enter and extract data are telltale signs of an ineffective ERP system.

ERP software today is equipped with intuitive interfaces, making them easy to catch on to and use. For example, role-based configured dashboards turn data into usable information without tapping into IT capacity. Automated work instructions address workforce succession. Merging machine data and financial performance can pinpoint where true profitability is or is not occurring. ERP software includes customizable reporting tools. Its anywhere-accessibility supports quick responsiveness, and that equates to time savings and better customer service.

In addition, reputable ERP system providers will include training as part of their ERP implementation and provide support to encourage user adoption. Be sure to take advantage of it.

3. Reliance on Multiple Platforms

One of the biggest benefits of current ERP software is its ability to minimize duplicate data and duplicate work. A major goal of any ERP system is to create efficiencies and make sure everyone is on the same page and working together as a team toward the same goals. When individuals and departments use multiple systems or add-on tools that are not integrated into your ERP system, that is a recipe for miscommunication.

If you are using nonintegrated systems or a separate customer relationship management (CRM) tool, you’re likely missing productivity and profitability opportunities.

Modern ERP systems unite various departments with a single technology system rather than separating them into silos with their different management tools. But that doesn’t mean you need to abandon systems that are working for you. If you like, for example, the simplicity of QuickBooks®, newer ERP technologies can integrate seamlessly with many existing platforms and do not have to be complex and difficult. Workflow automation in these new systems has pushed complex routines behind the scenes, allowing users to analyze data; make decisions fast; and avoid lengthy, frustrating keystrokes.

4. Still Performing Manual Processes

In an age when reliance on computers and online connectivity has become a part of our daily lives and imperative for business success, it’s unnecessary for manufacturers to still rely on manual business processes.

Your finance department may run manual end-of-the-month reconciliation reports. The sales department may send orders through interoffice mail. Engineers might route papers for approvals with no way of tracking where they are in the approval process or whose desk they’re sitting on.

ERP technology is intended to automate labor-intensive processes and keep workflows running smoothly. When your ERP fails to achieve these most basic functions, it’s time to look at an upgraded system.

5. Lack of Support

As legacy systems age, they often require more calls to the software vendor’s customer support center or help desk. To resolve problems, technicians often need to perform upgrades or maintenance.

Eventually, however, the computing power of legacy systems simply cannot keep up with the mountain of data that is generated in today’s business climate.

This can lead to slower performance, increased downtime, and susceptibility to security breaches or cyberattacks. Some ERP software applications may even become obsolete or no longer be supported.

A lack of available support isn’t a problem just with legacy ERP systems; it’s also critical to ensure that your new ERP system has people who will be there to stand behind it. Choosing the right ERP vendor is just as important as choosing the right software. The vendor can help you through each phase, including discovery, selection, implementation, customization, user training, and ongoing support.

Source: Mark Stevens


Data V Tech is proud to be one of the leading ERP vendors in the Asia Pacific. We have implemented Epicor ERP for many businesses in manufacturingdistribution, and retail in Vietnam and China. For direct consultation, please feel free to contact us.

cloud erp mistakes

Rootstock: 10 mistakes to avoid with Cloud ERP

Cloud supply chain and manufacturing Enterprise Resource Planning (ERP) solution provider, Rootstock Software, identifies ten common challenges to overcome to ensure a quick solution rollout for your organization.

Mistake 1: Not knowing why you need cloud ERP

Don’t just gather requirements for moving business as usual into the cloud. Take the time to think and talk about what you want your operation to look like after implementation.

Mistake 2: Letting your expectations get out of hand

Be patient. If you choose the right solution and implement it in a deliberate, strategic fashion, you should expect meaningful results. For example, Matouk, a high-end, custom linen manufacturer, implemented Rootstock Cloud ERP and Salesforce CRM. In six months, they achieved an ROI of 223%.

Mistake 3: Moving ahead without a committed executive sponsor

ERP will be the central system of record that impacts your end-to-end business processes, so getting cross-functional involvement is critical. The ideal sponsor is a CTO or a senior operations executive with technical expertise. But whoever takes on this task must be committed, engaged, vocal, and visible.

Mistake 4: Ignoring the change management imperative

Accounting for the human factor is paramount. Be honest with the change management involved because some won’t like change and others will embrace it. Be prepared and empathetic but be clear that this is happening.

Mistake 5: Not having enough (or the right) people assigned to the implementation project 

You’ll need a seasoned project manager to guide this implementation. Someone who knows how to define the new business processes you’ll want to enable with your new ERP solution, and the cloud platform you’re migrating to, is critical.

Mistake 6: Ignoring maintenance requirements 

Maintenance is no longer a dirty word with the cloud. It’s prudent to make someone responsible for ensuring that your system is always running well, progressing in capability, and is functionally up to date.

Mistake 7: Limiting your vendor evaluations to the usual suspects 

Competition has also created more vendors focused on the needs of specific manufacturing verticals. Consider both large and small ERP vendors that have real experience in your chosen industry.

Mistake 8: Implementing everything at once

Break your implementation into small steps, consistently seek user input on requirements, test the system, solicit feedback on results, and adjust as needed.

Mistake 9: Automating what you do rather than thinking about what’s possible 

Keep an open mind. Native cloud ERP brings many benefits: scalability, a platform that offers plug and plays customization, mobility enablement, the agility to simultaneously support multiple manufacturing modes, and so much more.

Mistake 10: Keeping things quiet

The best way to keep an implementation moving forward in a positive manner is with clear, open, and frequent communication.

Source: Daniel Brightmore

ERP vendors 2020

Solutions Review Names 4 ERP Vendors to Watch in 2020

Solutions Review’s ERP Vendors to Watch is an annual listing of solution providers we believe are worth monitoring. Companies are commonly included if they demonstrate a product roadmap aligning with our meta-analysis of the marketplace. Other criteria include recent and significant funding, talent acquisition, a disruptive or innovative new technology or product, or inclusion in a major analyst publication.

The process of searching, evaluating, purchasing, and deploying an Enterprise Resource Planning (ERP) solution is not as simple as it once was. There’s no such thing as a one-size-fits-all approach when it comes to ERP software. Solutions today come in a variety of different flavors, each features a particular set of capabilities, strengths, and drawbacks. Choosing the right vendor and solution is a complicated process—one that requires in-depth research and often comes down to more than just the solution and its technical capabilities.

In that spirit, we’ve turned our gaze to the future of ERP software. Whether its inclusion in a recent analyst report, the release of an innovative new tool, or a bump in venture funding, these are the ERP providers that have earned watch list status from Solutions Review for the year ahead.

ERP vendors 2020

Infor is a global provider of cloud-based business management software products for companies in industry-specific markets. Founded in 2002 as an ERP software company primarily focused on manufacturing, Infor has since expanded to offer ERP solutions to industries such as automotive, distribution, construction, fashion, food & beverage, hospitality, retail, and more. Today, Infor offers industry-specific CloudSuite solutions for businesses of all sizes. Building on robust ERP systems such as Infor LN, Infor M3, and Infor CloudSuite Financials, CloudSuite solutions deliver last-mile functionality for process and discrete manufacturers; global and SMB wholesale distributors; and service industries requiring end-to-end financial, supply, human capital, and enterprise performance management.

ERP vendors 2020

In 2016, Oracle acquired NetSuite in a definitive agreement saying “Oracle and NetSuite cloud applications are complementary and will coexist in the marketplace forever.” That being said, the two offer leading cloud-based ERP solutions designed for small, medium-sized and large enterprises. From advanced financials to supply chain management to billing and beyond, NetSuite and Oracle ERP solutions give companies the tools they need to accelerate growth and drive innovation, in industries such as financial services, healthcare, education, manufacturing, and retail. Oracle NetSuite ERP is a horizontal package designed for a wide range of industries. It permits customers in any industry to manage their front and back-office functions, plus web operations, all from a single and reliable source.

Founded in 2008, Acumatica provides cloud and browser-based business management software designed for small, mid-sized businesses and large enterprises. Acumatica delivers adaptable cloud and mobile technology with a unique all-inclusive user licensing model, enabling a complete, real-time view of your business anytime, anywhere. Acumatica ERP provides the full suite of integrated business management applications, including financials, distribution, manufacturing, project accounting, field service, Commerce Edition, Construction Edition, and customer relationship management. Acumatica provides its Studio feature, which empowers business process changes while enabling software customization instead of requiring businesses to change their business processes.

Epicor ERP 10

Established in 1972, Epicor Software Corporation provides cloud-based industry-specific business software designed around the needs of manufacturing, distribution, retail, and services organizations. With three ERP platform offerings, (Epicor ERP, Epicor Prophet 21 and Epicor Eclipse) ERP solutions from Epicor help customers harness data and automation to stay productive and profitable. With capabilities spanning from customer relationship management, content management, BI and Analytics, to eCommerce and sales and financials – Epicor ERP products give you room to scale and evolve with a software system that helps you keep pace with technology in the age of Industry 4.0.

Source: Solutions Review


Data V Tech is proud to be one of the leading ERP vendors in Vietnam. For further consultation, please feel free to contact us.

Horasis Asia Meeting 2019

Horasis Asia Meeting 2019

Data V Tech Solutions Company Ltd. is proud to participate in the Horasis Asia Meeting 2019 in Binh Duong, Vietnam. Here are some pictures we took in the event:

Data V Tech Horasis

Ms. Trinh, Lan Phuong (rightmost) and some international guests at Horasis Asia Meeting 2019 in Binh Duong

Horasis Asia Meeting 2019

Further information on the event according to Horasis:

24-25 November 2019, Binh Duong New City, Vietnam

Horasis will convene the 2019 Horasis Asia Meeting in Binh Duong New City, Vietnam, over 24-25 November. The event is co-hosted by Binh Duong Province, Becamex IDC Corp., and VSIP Group. The Horasis Asia Meeting will bring together over 500 of the foremost business and political leaders from across Asia and the world.

Delegates will discuss how to shape the path forward through Asia’s big transitions and how to adopt innovation to build towards a resilient Asia. This year, Vietnam plays again host to the Horasis Asia Meeting. The country aims to become an export economy that can grow fast and provide more jobs with higher income for the people of Vietnam and the whole of Asia.

Horasis Asia Meeting 2019 Horasis Asia Meeting 2019
Trinh Dinh Dung, Deputy Prime Minister, Vietnam Plenary panel at the Horasis Asia Meeting

The annual Horasis Asia Meeting is Asia’s premier gathering of the region’s most senior leaders from business and government. The meeting is poised to be the ideal platform to explore and advance regional cooperation, impact investing and sustainable growth. The location of the meeting rotates annually and recently has been held in Bangkok, Thailand (2016), Kolkata, India (2017) and Binh Duong New City, Vietnam (2018). With this meeting, Horasis aims to present a systemic view of activities affecting the drivers of Asia’s economic success and how Asian businesses interact regionally as well as globally.

Binh Duong Convention Center,
venue of the Horasis Asia Meeting
Binh Duong New City,
Vietnam’s leading smart city

The co-chairs are:

Matlub Ahmad, Chairman, Nitol Niloy Group, Bangladesh
Fernando Gil De Bernabe, Chief Operating Officer Asia Pacific, Japan, and Greater China, Cisco, Singapore
Ed Bullecer, Chief Executive Officer, Paglas Group, Philippines
Herbert Chen Wu, Managing Director, The Economist Global Business Review, China
Thet Thet Khine, Member of Parliament, Myanmar
Don Lam, Chief Executive Officer, and Co-Founder, VinaCapital, Vietnam
  Nguyen Van Hung, Group Executive Chairman, Becamex IDC, Vietnam
Huynh Quang Hai, Group Executive Director, VSIP Group, Vietnam
So-Young Kang, Founder and Chief Executive Officer, Gnowbe, Singapore
Tadahiro Kawada, President, Kawada Technologies, Japan
Sanjay Kirloskar, Chairman, Kirloskar Brothers; President, AIMA, India
Hiroshi Komiyama, President, Kitakyushu Asian Center for Low Carbon Society, Japan
Nguyen Viet Long, Deputy Chief Executive Officer, Becamex IDC, Vietnam
Johan Nyvene, Chief Executive Officer, Ho Chi Minh City Securities Corporation, Vietnam
Ganesh Natarajan, Executive Chairman, and Founder, 5F World, India
Diana Sabrain, Co-founder, OneAgrix, Singapore Diana Sabrain, Co-founder, OneAgrix, Singapore
Vivian Secakusuma, Vice Chairman, Association of Indonesia Investment Advisors, Indonesia
Rita Sim, Chief Executive Officer, CENSE Media, Malaysia
Tan Yinglan, Founding Managing Partner, Insignia Ventures Partners, Singapore
Thong Le Tri, Vice Chairman and Chief Executive Officer, PNJ, Vietnam
Wang Dong, Secretary-General, The Pangoal Institution, China

Horasis – a global visions community committed to inspiring our future – provides a unique platform for companies from emerging and developed markets to globalize their organizations. In addition to the Horasis Asia Meeting, Horasis hosts the annual Horasis Global Meeting, Horasis China Meeting, Horasis India Meeting, as well as the annual gatherings of the Horasis Visionary Circle.

upgrade of ERP systems

8 Signs It’s Time to Upgrade to a Better ERP System

Few things are so daunting a prospect as a large-scale change in your ERP system. After all, the average ERP implementation project usually lasts around 6 months, some even 2 years. Likewise, the upgrade might take a few months, too. However, it is crucial and in many cases inevitable for the company’s growth. In this article, we’ll explain eight warning signs that indicate it’s time to upgrade.

Personnel is easily a company’s most significant cost. Once you factor in salary, benefits, employee development programs, the hiring process, personnel typically far outpaces anything else you spend on.

That’s what makes the right ERP system so crucial for your business. An ERP system that requires much manual processing to run on a day-to-day basis can negatively impact your employees’ productivity.

Not to mention, a plethora of manual processes also indicate a lack of scalability. So as you grow, your ERP won’t grow with you, and will instead require even more unproductive time from your people.

Reporting easily takes the cake as one of the most important functions of any ERP system. Thus, if your current ERP doesn’t enable you to quickly and efficiently view the most important metrics, it’s probably past time to upgrade.

Access to metrics is crucial to your company’s success. After all, without the right reporting, there’s no way for you to tell if your company will achieve its goals.

Few things kill a company’s growth momentum than a setback when audit time rolls around. Many smaller ERP tools or homegrown systems are unable to keep up with the ever-changing, ever increasingly-stringent requirements to maintain compliance. One slip-up here can be devastatingly expensive for your company.

Especially if your company currently or in the future would like to engage with any government contracts, you’ll need to ensure beforehand that you meet the strict compliance measures. Thus, it’s better to get the ERP upgrade out of the way now before that becomes a possibility, rather than have to miss out an opportunity down the line because you aren’t yet compliance-ready.

For the past few years, we’ve been saying that mobile is taking over. I’m here to tell you that today, mobile has taken over. Your employees are always on the go but also always have access to their smartphones. If your ERP system doesn’t have the mobile capacity, then you’re potentially missing out on hours of productivity.

How advanced is your tech stack? If your company is in any sort of high-tech or SaaS industry, part of the territory is a massively complicated tech stack to support all of the different functions of your business. Integrations are key for your employees to most efficiently leverage that tech stack to excel in their roles.

Having to constantly navigate between or manually send data across two different systems kindles unproductivity. If your ERP doesn’t play well with all of the other tools in your tech stack, it’s definitely time for an upgrade.

Though there may be myriads of technical, tangible factors of employee productivity, many of the elements that influence how well your personnel works are the intangibles, like morale. Don’t wait till your employees constantly complain about your current ERP and find it hard to do their job.

If someone’s motivation to work is being adversely impacted, you’ll get nowhere near 100% productivity from them. Don’t let your ERP be the root cause of a lack of morale.

Any large scale change to your organization, such as an overhaul, upgrade, or re-implementation of your ERP will require buy-in from upper management. Creating that buy-in is best done by building out a business case for the ERP upgrade.

As you build out that business case, you’ll be able to see the prospective ROI to make a well-informed decision. Take into account all of the systems and functions that you plan to upgrade.  Then compare the future state to the current state. How many hours per employee does each new or improved function save? How much is each hour worth? Will the impact of the new tool lead generation for your marketing team or conversion rates for your sales team?

Leverage the answers to all those questions while building out your business case. In the end, assess the RoI and see whether it outweighs the cost of an ERP upgrade. If it does, making the jump and committing to the improvement process is certainly a no-brainer.

The last but most tell-tale sign of an insufficient ERP system is an adverse impact on customer experience. As you well know, customers are the lifeblood of your organization. Your customer base waning means your organization’s death.

Research reveals that positive customer experience results in increased customer longevity as well as word-of-mouth marketing. A happy customer who enjoyed the experience of working with your company will also tell his/her friends about his/her positive experience. The net result of that means more dollars in your bank account.

But the opposite of that is so much truer. Customers are even more likely to share negative buying experiences than positive ones. Thus, if you’re providing a poor experience, your market will soon know about it. That’s why it’s absolutely crucial that you upgrade your ERP if some parts might contribute to adverse customer experience. Whether it causes a slow response time from your sales team or an overcomplicated purchasing process, it has to go.

Conclusion

If these warning signs show themselves in your organization, then it’s beyond time for you to consider upgrading your ERP. Daunting though the prospect may be, a dedicated team can help you implement your system upgrade easily and quickly.

Contact us to know more about how to upgrade your ERP.

21 Inspirational Quotes for Engineers

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 quotes inspire 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)

inspirational quotes for engineers

 

inspirational quotes for engineers

 

inspirational quotes for engineers

 

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data v tech inspiration

 

data v tech inspiration

 

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data v tech engineers

 

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best quotes for engineers

 

best quotes for engineers

Collected by @Datavtech

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