Enterprise resource planning - ERP

ways ERP improves compliance

5 simple ways an ERP system improves compliance for your company

Maybe you’re wondering how an ERP improves compliance? Perhaps you’re scratching your head and trying to figure out what an ERP (enterprise resource planning) system has to do with accounting compliance. The truth is quite a lot. This is because an ERP increases the visibility, security, and traceability of your data.

Although an ERP can’t guarantee compliance, it is an invaluable asset for any company trying to consistently achieve compliance. Accounting standards are regularly updated to include new compliance regulations. Recently, increasingly prevalent billing structures like subscription billing or complex lease management mean compliance has become more complex. As a result, it can become harder and harder to ensure you’re ticking all the right boxes.

That’s where an ERP comes in. Reduce the time your team needs to spend on tasks that can easily be automated and manage all the moving parts that end up impacting compliance. In addition, you will also increase efficiency across your company’s numerous processes.

Here are just some of the ways an ERP improves compliance:  

1. Gives your company visibility and transparency

Compliance depends heavily on the ability to visibly and transparently manage business processes. One of the biggest struggles companies face is accurate revenue reporting and recognition. The increase in complex billing structures has only added to the complications of accurate and transparent reporting.

Traditionally, this type of data might be tracked in a complicated network of spreadsheets, often reliant on a small specialized team to put in long hours of manual and boring data entry. We know manual data entry can be riddled with errors due to its monotonous nature. Not only is this labor-intensive, but it can be overwhelming to extract the data needed. All of this can easily be managed within an ERP system.

2. An ERP improves compliance by reducing errors in your data

Automating repetitive tasks with an ERP system not only reduces errors but frees up your team. Giving your team the time to triple-check all compliance requirements. It’s hard to prove compliance when there are errors in data tracking and management. Manual data entry can also lead to the sorts of mistakes that can cause issues down the line.

An industry-specific ERP changes all that. It gives you the tools to streamline processes and set up universal standards for how records are saved and stored. As a result, you have more control over your data and can retain historicals, all within a single system. Therefore cutting down on the opportunity for error and making your data more reliable.

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3. Better handles complex billing cycles

As touched on briefly above, an ERP will simplify even the most complex billing cycles. If you’re managing a recurring billing model, it’s possible to find an ERP system with built-in tools to make compliance easier. Automating your processes and streamlining your data will give you fast and effective access to reports.

4. Makes your data audit-friendly

Centralized and easily accessible reports streamline your end-of-period process and audits and help you get the right answers at the right time. An ERP allows you to perform audits quickly and efficiently without having to scramble to find the relevant data. This makes your accounting team’s life easier during pressurized times of the year (like tax season). It also gives them peace of mind when they can rely on the consistency and accuracy of the data they’re using. There’s nothing worse than having to spend valuable time and energy re-entering data that could have been automated.

5. Consistent reporting across multiple companies in your ERP improves compliance

The bigger your company gets, and the more properties you manage, the more complicated compliance gets. An ERP will introduce consistency to your reports across multiple entities or companies. As a result, it facilitates your compliance with more accessible data across all entities. Investing in an ERP that is built to scale as your company grows will be essential for fast-growing companies as it will enable you to keep track of data and remain compliant as you expand.

Finally, an industry-specific ERP improves compliance by knowing your industry better than you do

A company with a system built for your industry has probably worked with hundreds of companies with similar needs to you. When it comes to compliance there are going to be a number of commonalities between companies, and even more so, between those in the same industry. Investing the little extra needed to ensure your tools are built to handle the demands of your industry and ensure that your accounts are all in order, will save you time and money in the future.

Often, we see companies who’ve tried to use complicated workarounds with systems that haven’t been proven to work in their industry. Do your research and find an ERP that knows your industry or has add-ons specific to your industry. That way it will be built to tackle the complexities of the processes you need to make visible and transparent.


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. If you want to learn more about how an ERP system can help with compliance, please feel free to contact us.

Definitive guide to Cloud ERP

The Definitive Guide to Cloud ERP

Enterprise resource planning (ERP) systems have been around for decades, but only in recent years have cloud ERP systems been in the spotlight. In the past, ERP software was most often deployed on-premise. However, nearly 60% of large enterprises with ERP solutions up for replacement are projected to switch from traditional on-premise to cloud ERP deployments by 2020.

What Is Cloud ERP?

A cloud ERP solution hosts software and data on a remote third-party server. Companies generally pay a subscription fee to access the software through the internet. Vendors are responsible for software maintenance and updates. The data service provider manages the hardware and ensures data security and backup.

Companies are adopting new technologies at a faster pace than ever. The market for cloud ERP solutions is rapidly growing and promises flexibility, scalability, and agility. But how do they deliver on these promises?

Whether you’re considering a cloud ERP solution or actively in the market for one, you’ll want to do your homework and research the different deployment options.

To help you with this process, we’ve put together this in-depth guide on the types of ERP deployment, the issues you should consider when deciding between cloud or on-premise ERP solutions, and profiles of the top cloud ERP vendors. We’ve also included insights from industry experts, as well as definitions for the many technical terms people use when talking about cloud ERP software.

Types of Deployment

The three main types of ERP deployment are cloud, on-premise, and hybrid.

1. Cloud ERP

Cloud ERP solutions are typically hosted in a multi-tenant public cloud. Let’s define each of these terms:

  • Public cloud: Data is stored in a remote third-party data center that’s responsible for the maintenance, backup, and security of the hardware and data.
  • Multi-tenant: The vendor offers a single version of the software to multiple companies simultaneously and is responsible for maintenance and updates.

In addition, cloud ERP software may be specifically designed for the cloud or migrated to it.

  • Cloud-native: Software is built and optimized for the cloud.
  • Cloud-based: Software is migrated from legacy on-premise software to the cloud. If you’re selecting an ERP system that’s cloud-based, make sure the software’s underlying architecture has been optimized for the cloud; otherwise, it may be slower and less responsive.

Lastly, a less common type of deployment is hosted ERP, which is similar to cloud ERP in that the vendor maintains and updates the software. The difference is that cloud ERP software is web-enabled and accessed via the internet, but a hosted ERP solution is accessed through a virtual private network (VPN) or a physical client workstation/terminal.

2. On-premise ERP

On-premise ERP software is installed and customized on the company’s own hardware and servers. The company typically pays a one-time license fee and is responsible for maintenance, security, and backup of the software and data.

An on-premise ERP solution may also be hosted on a single-tenant private cloud.

  • Private cloud: Data is stored on the company’s intranet or hosted behind a firewall by a data center. The company is responsible for the maintenance, backup, and security of the hardware and data. If the hardware fails, the company needs to pay for replacements.
  • Single-tenant: Companies have dedicated access to their data and software, which can be integrated with other applications or services on the same cloud provider.

3. Hybrid ERP

Hybrid ERP solutions combine cloud and on-premise solutions, often from multiple vendors. This is becoming more common as many companies integrate newer cloud ERP software into their legacy on-premise system.

77% of enterprises have at least one application or a portion of their enterprise computing infrastructure in the cloud.

On-Premise vs Cloud ERP

When it comes to choosing between on-premise and cloud ERP solutions, there are many issues to consider. In the following sections, we’ll compare:

Implementation

  • Costs
  • Usability
  • Security
  • Upgrades

Here’s a broad overview of the ideal customers and benefits for each type of deployment.

Definitive-Guide-to-Cloud-ERP-Data-V_Tech-Epicor_ERP

Cloud ERP Implementation

Implementing an on-premise system is an extensive process. It typically consists of seven stages:

  • Research
  • Installation
  • Migration
  • Testing
  • Training
  • Deployment
  • Support

Cloud implementation can save time, money, and stress compared to on-premise implementation because it:

  • Doesn’t require the purchase and installation of hardware, data servers, and software
  • Doesn’t require significant customization
  • Needs fewer internal IT, data security and implementation staff
  • Integrates more easily with existing ERP systems and other applications
  • Still, the most difficult aspect of implementation is managing change for employees within the company, which is an issue no matter which deployment you choose.

Cloud ERP Pricing

On-premise ERP solutions have large up-front costs, including:

  • Software license ownership
  • Implementation team
  • Software customization
  • Hardware and software installation
  • Data security, backup, and storage
  • Support staff

In total, small to medium-sized businesses (SMBs) can expect to pay between $75,000 and $750,000 for an on-premise ERP solution. Costs for large businesses range from $1 million to $10 million.

On the other hand, cloud ERP solutions don’t involve owning and installing hardware and software. Instead, they generally use a software-as-a-service (SaaS) licensing and delivery model, in which:

  • The company pays a subscription fee that includes software access and updates, as well as data security, backup, and storage
  • The subscription fee is paid monthly or annually based on the number of users and level of features
  • The company only pays for what it needs and can scale usage easily if required
  • The vendor maintains and updates a standardized version of the ERP software, which usually doesn’t offer much customization

Overall, you’ll pay approximately $4,000 per month for a cloud ERP solution with 20 users.

Cloud ERP systems can cost 50% less than on-premise ERP systems for a 100-employee company over a four-year period.

Critics often note that while cloud deployments are cheaper at first, the monthly payments add up to a higher total cost of ownership in the long run. This is only true, however, if companies don’t need to upgrade their software.

We’ll discuss upgrades later in more detail, but be aware that as new technologies are incorporated into ERP systems, companies will need to upgrade more often to remain competitive.

Cloud software can be updated and integrated more easily than on-premise software, which may require expensive reimplementation or customization.

Another cost-friendly alternative is open-source ERP software, which is publicly available and free to install and customize. It’s commonly implemented on-premise, however, and many vendors only provide cloud deployments with a SaaS subscription.

Cloud ERP Usability

Most cloud solutions are designed with the user in mind, so they typically have intuitive interfaces and are accessible from mobile devices.

” A great capability of the cloud is its ability to deliver real-time data to users across multiple locations. Now people in disparate locations will communicate and collaborate using real-time data, and remote workers or employees in the field can stay connected to the most up-to-date insights.

Companies using mobile cloud ERP software also report improvements in data accuracy, and modern technology can minimize or eliminate mistakes by reducing the need for redundant data entry.”

Ray Rebello, Director of Product Marketing, Acumatica.

Many on-premise solutions were designed years ago, so interfaces may not feel as user-friendly. One benefit, however, is that on-premise deployments can be accessed even without an internet connection.

 

Cloud ERP Security

Some companies worry about security with a public cloud, but most cloud ERP vendors rely on reputable data service providers, such as Amazon, Microsoft, and IBM.

These providers offer 24/7 monitoring, and security breaches are rare. For companies with little to no IT or data security staff, using a public cloud may be safer and less stressful.

In addition, companies with their own data servers are increasingly concerned about ransomware attacks, which use malicious software to block companies from accessing their data. The attackers demand a ransom to restore access, and even if the company pays, the data may still remain blocked.

Public clouds offer data backup, so ransomware attacks become less catastrophic.

49% of organizations are planning to migrate disaster recovery to the cloud in the next one to three years.

A private, single-tenant cloud offers even more privacy, control, and customization than a public cloud. Although it’s not offered by many vendors, for companies that face strict data security regulations — in the health care and financial industries, for example — it may be the only option.

Cloud ERP Upgrades

One of the biggest mistakes companies make during implementation is not planning for future growth and scale.

On-premise ERP solutions typically have numerous customizations that make upgrading not only time-consuming and costly but also may require the company to shut down its ERP system and reimplement the entire solution. It’s unsurprising that many companies with on-premise ERP systems never upgrade.

On the other hand, because cloud ERP solutions are typically standardized, upgrades can be delivered seamlessly, automatically, and routinely.

” The last few years have seen more advances in technology than the previous two decades combined.

Incumbents must evolve. New entrants must rapidly scale. And all need to become intelligent enterprises that connect business processes with advanced technologies and software solutions for incredible customer outcomes.”

Richard Strattner Jr., Global Head of Product Marketing, S/4HANA, SAP

Cloud ERP solutions are also well-positioned to take advantage of and integrate new technology and services. In particular, vendors are turning toward artificial intelligence (AI) and the Internet of Things (IoT) to deliver next-generation insights.

AI can be used to analyze shop floor data and guide warehouse selection, as well as configure-to-order and engineer-to-order processes. Wearables and data collection devices that communicate using IoT can transmit data that are used to improve overall equipment effectiveness, reduce equipment breakdown, and increase asset utilization.

How to Choose an ERP Deployment

Now that we’ve covered the implementation, costs, usability, security, and upgrades of cloud and on-premise ERP solutions, we’d like to highlight specific situations in which you might choose one over the other. There are benefits to both deployments, and your final decision will depend on the unique needs of your company.

Choose a cloud ERP system if you…

  • Can’t afford a huge initial investment
  • Need to deploy quickly
  • Don’t require much customization
  • Have little to no IT staff
  • Want to integrate the ERP solution with other services or software now or in the future
  • Have multiple locations that need to use the system simultaneously
  • Are comfortable outsourcing data security, backup, and storage
  • Prefer a web-based interface and better mobile access

” You often hear about the financial and IT advantages of cloud versus on-premise based ERP, but the real, big advantages of cloud ERP are business benefits.

Companies with true cloud ERP are able to innovate more rapidly, out-service the competition, and connect easily with customers, suppliers, and employees. The business and strategic benefits dwarf the others.”

Tom Brennan, Chief Marketing Officer, Rootstock

Choose an on-premise ERP system if you…

  • Maintain a large data center and IT staff
  • Require extensive customization
  • Have business processes, such as incumbent manufacturing execution systems and advanced planning and scheduling, that require a lot of bandwidth
  • Need access even during internet downtime
  • Want to retain control over the software and data
  • Are prohibited from storing data in a public cloud by industry regulations

Choose a hybrid ERP system if you…

  • Have an on-premise solution but want best-of-breed cloud solutions
  • Need to access data from your on-premise solution through a mobile or web-based cloud platform
  • Want to transition from an on-premise solution to a cloud solution more easily at a later date

Top Cloud ERP Vendors

The following vendors offer popular cloud ERP solutions.

Acumatica

Acumatica serves customers in the manufacturing, accounting, distribution, retail, and commerce industries.

Its Distribution Management module helps companies track inventory, improve customer service, manage quotes and orders, and more. Its Project Accounting module offers built-in accounting tools that manage timesheets, budgets, and project inventory. Both functions integrate with various modules, including customer relationship management (CRM), manufacturing, and financials, for visibility across an organization.

Acumatica has multiple deployment methods, including public cloud SaaS, private cloud hosting, and on-premise.

Epicor

Epicor - all about cloud ERPEpicor is built for organizations of all sizes – although it mainly targets mid-sized companies – involved in manufacturing.

The software offers features and functionality to handle accounting and finance, project management, CRM, inventory, pre-production materials planning, manufacturing execution, human capital, supply chain management, global business management, and more.

Customers can purchase modules individually or the entire suite. The software can be installed on-premise or in the cloud.

Infor ERP

Infor is designed to help distribution and manufacturing companies run core business operations. Its solution is primarily intended for SMBs but can scale to cater to the needs of larger organizations.

Modules include accounting, human resources, sourcing, project management, CRM, and supply chain. The Workforce Planning feature helps manufacturers and distributors optimize their headcount to meet scheduling criteria. The Advanced Planning & Scheduling features allow users to immediately determine if they have the workforce, machines, tools, and materials needed to manufacture a product.

The solution supports on-premise, cloud, and hybrid deployments.

IQMS

IQMS helps large discrete and batch-process manufacturers monitor and track manufacturing and business data and activities throughout the supply chain.

Modules include business intelligence (BI), product planning and scheduling, supply chain management, warehouse and shipping management, and CRM. Its Inventory module allows users to facilitate lean manufacturing processes by creating individual inventory master records for different locations.

IQMS offers flexible licensing models and can be deployed in private or public clouds, as well as on-premise.

Microsoft Dynamics AX

Microsoft Dynamics AX helps SMBs and large enterprises streamline the administrative and manufacturing processes of their business.

It supports build-to-forecast, made-to-order, and engineer-to-order supply chain models across both batch and discrete-process manufacturing processes. Its capabilities also include warehouse management, production management, product lifecycle management, materials requirement planning, business intelligence, and asset management.

The software can be installed on-premise or hosted in the cloud.

Oracle Netsuite

Oracle NetSuite is a cloud-based, integrated suite of applications from which a company manages financials, orders, production, warehouse, fulfillment, procurement, and human capital. The seven integrated modules aim to streamline business processes while contributing scalable functionality as a company grows.

Drawing from a common database, the ERP modules integrate with NetSuite’s other applications, like CRM, inventory, order management, and e-commerce to accelerate closings, ensure compliance, and provide real-time analysis.

Oracle NetSuite can be deployed in the cloud and integrated with legacy systems using a two-tier ERP system.

QAD

QAD Enterprise Applications supports global manufacturers in the automotive, consumer products, food and beverage, high-technology, industrial and life-sciences sectors.

Its modules include manufacturing, financials, customer management, demand and supply chain management, and analytics. The solution is FDA “qualified” and auditable for life-sciences customers and offers a suite of process maps that helps automotive customers meet critical industry standards, such as the Materials Management Operational Guideline/Logistics Evaluation.

The software can be deployed on-premise, through the cloud, or with a hybrid implementation.

Ramco

Ramco targets over 40 industry verticals such as manufacturing, energy, government, and real estate. Its solution may be too robust for small businesses.

It has modules in finance and accounting, supply chain management, production, quality assurance, project management, and human resources. The supply chain management module includes a supplier portal so a company’s vendors can access and act on up-to-date information. The production module is tailored to both discrete and process manufacturing.

Ramco can be deployed in public and private clouds, as well as on-premise.

SAP

Business One is SAP’s ERP software for SMBs in the consumer products, industrial machinery and components, professional services, retail information, and wholesale distribution sectors.

Its modules include financials, purchasing, inventory, sales, project management, operations, and CRM. The purchasing and inventory control module manages the complete order-to-pay cycle, including receipts, invoices, returns, and payments to optimize purchasing practices and control costs.

The solution can be deployed on-premise or in the cloud. Pricing is based on the number of users.

Source: Andrew Ly

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

14 marketing skills that can help you get hired this year

Marketing skills that can help you get hired this year

Here are the must-have skills you need in 2020 in response to the rapid expansion of digital marketing. Keep yourself updated and stay on top in your career.

1. Content Marketing

Content marketing with Data V TechA quick search on Facebook you will possibly find numerous groups for content writers. Bill Gates once said: “Content is king”, and it is happing right now, that we need many writers, especially high-quality ones. Whichever tools a company is using, it will need more customer-oriented content.

So start writing blogs and join various Facebook content writer groups as well as communities for the passionate about writing. Furthermore, there are several books on content writing that can help you capture audiences and gain more readership. Get yourself a position in the pool, or at least, get yourself informed about where and how to get the right writer.

 

2. Content Management System (CMS)

Content management system CMS with Data V TechContent management system is like a virtual business where you can easily learn on your own how to do the job. WordPress, Wix, and Drupal are some common CMS examples. They differentiate themselves somehow from each other. However, if you understand how a system functions, you can learn to manage all.

 

3. Customer Relationship Management (CRM)

Most businesses are using CRM software to organize and manage interactions between the company and its customers. The software creates a real-time database bridging sales, marketing, and customer service. Popular CRM software includes Salesforce, Oracle, and, particularly in manufacturing, Epicor.

 

Epicor customer relationship management CRM

 

4. Mobile Marketing

mobile marketing - must have marketing skills in 2020It is anticipated that about 75% of all mobile users would have smartphones by the end of 2025, and the global size of the mobile marketing market is expected to continuously grow from 2020 to 2027. Mobile marketing refers to various channels on not only smartphones but also tablets, such as email, SMS and MMS, social media, websites, and apps. Thus, knowledge of mobile marketing would increase the value of your CV and support you significantly when you have to do the job.

 

5. Email Marketing

marketing resumeCompanies still need to increase, retain, and delight email subscribers. It is the fact that email marketing has never lost its value in terms of ROI. By June 2020 there have bill 3.9 billion of email users, which is projected to continue rising to 4.3 billion in 2023. Furthermore, every $1 on email marketing leads to an average return of $42.

Getting yourself familiar with various email marketing automation tools, such as Sendiblue, MailChimp, and Mailjet is one of the very first steps to master this channel. 

 

6. Video Production and Editing

Video Production and Editing - Must have marketing skills in 2020

 

Video is one of the critical parts of the future, as Mark Zuckerburg once said in 2018. Indeed, it is true in 2020. There were 63% of businesses using video as a marketing tool in 2019 and 81% in 2020. Thus, it would be a huge advantage if you master some video production and editing technique and understand how to utilize videos effectively on various channels. Either can you start with Windows Movie Maker or iMovie, or you can produce some short clips online, such as on Powtoon.

 

7. Paid Social Media Advertising

It is always attractive if you have experience in paid social media advertising, and even better if you know how to get the most out of your ads budget. The repetitive ads on social media channels, which now allow you to customize the demographic reach in order to focus on your target audiences, is particularly very popular in branding. This skill is also something you can invest easily for your own future if you are really into social media. Moreover, remember to check out the most popular channel in your destination before you pay.

marketing skills

 

8. Data Science

As many marketing channels have been automated, enormous data are available to many companies. Thus, they usually need someone to interpret the data and help them adjust their strategies, action plans, improve the product, or look for a new one. If you have a passion for data analysis and can do the job, there is a high possibility that businesses are searching for you!

 

9. Consumer Insights

Many companies require need consumer insights – “the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company“. Here are some tips to practice this knowhow:

  • Decide your research topic, and make sure you know how to receive the data.
  • Manage your resources to collect data as well as analyze it within the given timeframe.
  • Identify the data collection method.
  • Analyze the data while identifying whom and what might be affected and what to do in response to the possible impacts.

 

To sum up, here are the must-have marketing skills in 2020:

  1. Content marketing
  2. Content management system (CMS)
  3. Customer relationship management (CRM)
  4. Mobile marketing
  5. Email marketing
  6. Video production and editing
  7. Social media advertising
  8. Data analysis
  9. Consumer insights

Source: Data V Tech

 

 

PLM, ERP, EAM, Digital Twin: What do they mean

PLM, ERP, EAM, Digital Twin: What Do They All Mean? – [PODCAST]

The power industry and technology worlds are filled with acronyms. It’s often hard to know what they all mean. Mark Reisig, director of Product Marketing at Aras, was a guest on The POWER Podcast. He explained how digital technology is being utilized to bring products to market and track assets throughout their lifecycle.

The process often starts in a product lifecycle management (PLM) system. Reisig said when a product is created for the first time, things like the engineering bill of materials (BOM) and computer-aided design (CAD) drawings can be linked to the component in a PLM system. In all, he said there are about 20 key attributes documented in the system. They typically revolve around the form, fit, and function of the product, including its description, revision, unit of measure, part number, and more.

The PLM information feeds into an enterprise resource planning (ERP) system. ERP is a transactional system. It coordinates how everything is put together. It tracks what is made and what is bought—including financial data—and allows the product to be manufactured and assembled. ERP systems often include 150 to 175 different attributes. When complete, the ERP provides an as-shipped BOM.

At that point, an enterprise asset management (EAM) system becomes important. It is used to track and manage the physical asset through its lifecycle. This basically covers construction, commissioning, operations, and maintenance, all the way to decommissioning and replacement. As an enterprise tool, it goes beyond a single plant to include all the assets an owner manages. The idea is to track all the changes to all the physical assets, which is what Reisig called an “as-maintained” or “as-running” BOM. The EAM system also facilitates planning and execution of the work required to keep everything running.

“The real value of the three systems that I just mentioned is that you can connect across them in a digital thread,” Reisig said. “The person looking into the enterprise asset management, when they click on a digital twin, if they want to go back and see what the actual requirement was, they can actually do so. So, the real value is when you can cut across all of these pillar systems—EAM, ERP, and PLM.”

What is a digital twin? Reisig said most vendors position digital twins as models. The models are typically created during the engineering phase, which means they are a representation of what was designed. However, they don’t always reflect what was actually made during the manufacturing or construction process.

“Right there, you’ve got a problem, and that’s because many things happen to products when they go through production,” Reisig said. “We believe the digital twin is first available after it’s been manufactured, and even after it’s shipped, during the as-built stage.”

By creating the digital twin in the as-built phase, much more detailed and accurate information can be captured. In this way, physical part BOMs and related simulation data can be linked to the digital twin. Things like CAD drawings, service bulletins, work order history, electronics wiring schematics, and more, can be connected using a digital thread back to where that information is stored.

“Our definition is: the digital twin is the individual configuration of that physical product or a system of assets, and that creates the context you need to create value across the lifecycle,” Reisig said.

Listen to the entire interview with Reisig on The POWER Podcast.

Source: Powermag.com

 


 

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. For direct consultation, please feel free to contact us.

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.

Epicor ERP in Covid-19

Epicor launches partner support program in wake of COVID-19

Epicor has launched its ‘Fit for the Future’ program, designed to aid the company’s partners to build business resilience in response to COVID-19 and succeed in the current landscape.

According to Epicor, it is crucial to support partners as these businesses are a ‘vital’ component of Epicor’s go-to-market model. As such, the company is focused on providing competency, capability, and capacity within the market so partners can better serve and deliver value to its customers, Epicor states.

Partners include resellers, system integrators, and service partners, which can implement, design, and develop transformational IT strategies using the Epicor product portfolio and tools.

The program supports ongoing remote working situations and focuses on three core pillars, collaboration, skills and communication.

Togetherness: One Team focuses on staying connected to partners providing help in navigating changes and supporting connectivity and agility, the company states.

Epicor is actively encouraging partners to share their experiences and learnings in order to drive business improvements needed to fuel continued growth and shore up business resilience.

Partners will be able to access recordings, PowerPoint presentations, demo scripts, and other supporting documents from a partner hub to boost sales and scalability, Epicor states.

Developing Skills and Value brings an enablement plan to help partners continue develop a range of skills that can help them to remain competitive and agile in coming months.

Training is being delivered through a range of virtual sessions focused on sales skills, where attendees gain understanding in customer pain points and how to articulate increased value to customers; operational efficiencies and how to improve the customer experience; capability in accessing valuable collateral and managing pipeline; and business planning and driving SMART objectives.

To support partner development, Epicor is also publishing a series of weekly webinars and has been offering free-of-charge certifications over the last month.

Communication focuses on Epicor’s commitment to sharing information that ensures partners have useful data to help customers through a variety of new market challenges.

By keeping the lines of communication open, Epicor states it hopes to continue to grow alongside its partners, whilst supporting the wellbeing of each business and its employees.

Epicor Software vice president channel sales Paul Flannery says, “By investing in our partner community and supporting them through challenging times such as these, we are making sure businesses are resilient, by equipping them with the resources, tools, and knowledge needed to emerge stronger than ever before.

“We are dedicated to help our partners by helping them to thrive and adapt to the current environment in a way that’s rapid, streamlined, and scalable.”

For partners who have participated in the ‘Fit for the Future’ program, Epicor will be recognising these efforts through a scheme called the ‘Partner Olympics’.

Points will be awarded for attending webinars, downloading information from the partner hub, and achieving certifications. By putting this scheme in place, Epicor aims to drive continued engagement, whilst helping partners to adapt to a rapidly changing global climate.

Source: Chanellife


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. 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.

The Potential of ERP Amid a Pandemic

The Potential of ERP Amid a Pandemic

Automation on the plant floor can keep production flowing to refill store shelves. But the biggest problem manufacturers face right now is a disruption to the supply chain.

In the middle of a global health crisis, the Coronavirus disease 2019 (COVID-19) pandemic portends a drastic shift in the way the world will work in the future.

Whether it’s the need to ramp up production of hand sanitizer or convert automotive plants to produce more respirators, manufacturers are under pressure now more than ever to do more with less. The production floor is operating with skeleton crews to minimize possible exposure to the virus, and plant managers are in need of a better way to maintain visibility into the process. All of this points to the potential of implementing more automation on the plant floor.

In fact, the making of toilet paper is a highly automated process, as shown in the National Geographic documentary “Chasing Paper,” which highlights Sofidel, a manufacturer of toilet paper and paper towels. So, even if operators aren’t in the plant, more paper is on its way, people, do not panic.

The biggest bottleneck in the great paper chase—or for any product right now—is the supply chain. New research indicates that a weakened supply chain is the biggest business disruption related to COVID-19.

According to ABI Research, the impact of Coronavirus is both global and unpredictable, and the supply chain shock it is causing will most definitely and substantially cut into the worldwide manufacturing revenue of $15 trillion currently forecasted for 2020 by the global tech market advisory firm.

The virus will have both short- and long-term ramifications for manufacturers. “Initially, plant managers and factory owners will be looking to secure supplies and be getting an appreciation of constraints further up the supply chain plus how much influence they have on their suppliers,” explains Michael Larner, principal analyst at ABI Research. In the longer term, manufacturers will need to conduct an extensive due diligence process as they need to understand their risk exposure, including the operations of their supplier’s suppliers. “To mitigate supply chain risks, manufacturers should not only not source components from a single supplier but also, as COVID-19 has highlighted, shouldn’t source from suppliers in a single location.”

As a result, ABI Research forecasts that the supply chain impact of COVID-19 will spur manufacturers’ spend on enterprise resource planning (ERP), to reach $14 billion in 2024. While many ERP platforms include modules for inventory control and supply chain management, in light of the outbreak, many manufacturers will also turn to specialist providers. “Supply chain orchestration requires software to be more than a system of record and provide risk analysis and run simulations, enabling manufacturers to understand and prepare for supply chain shocks,” Larner said.

ERP providers agree that COVID-19—and panic buying which quickly exhausted the supply chain—has exposed a major vulnerability in manufacturing operations.

“Business processes need to be re-evaluated as this situation has turned the supply chain on its head,” said Steve Dombroski, senior manager for the consumer, food, and beverage market at QAD, a provider of adaptive ERP software. “Traditional methods of building safety stocks and buffer inventories have been replaced with Just-In-Time (JIT) item location forecasting to minimize re-deployment of inventories and to minimize inventory costs. Running JIT on inventories down and upstream through the supply chain caused delays.” This points to the need for manufacturers to address adaptability across the supply chain. “Manufacturing companies utilize two supply chains today; the physical supply chain consisting of all products and the digital supply chain that contains all information. Synchronizing both supply chains with all manufacturing, distribution, and procurement processes will enable companies to be flexible and agile.”

So, while all eyes are on automation, like robotics and Industrial Internet of Things (IIoT) sensors, to flow product through the line, none of that matters if the manufacturer doesn’t have a steady flow of raw materials. “COVID-19 demonstrates that manufacturers need to be as focused on their supplier’s capabilities as they are on their factory floor,” ABI’s Larner concludes.

Source: Stephanie Neil


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. Particularly, the supply chain management module of Epicor ERP is one of the strongest features of this solution and has been utilized and continously improved for over 40 years, even during this Covid-19. For direct consultation, please feel free to contact us.