COVID-19 Pandemic as a Big Data Analytics Issue

Understanding the COVID-19 Pandemic as a Big Data Analytics Issue

Big data analytics techniques are well-suited for tracking and controlling the spread of COVID-19 around the world.

The rapid, global spread of COVID-19 has brought advanced big data analytics tools front and center, with entities from all sectors of the healthcare industry seeking to monitor and reduce the impact of this virus.

Researchers and developers are increasingly using artificial intelligence, machine learning, and natural language processing to track and contain coronavirus, as well as gain a more comprehensive understanding of the disease.

In the months since COVID-19 hit the US, researchers have been hard at work trying to uncover the nature of the virus – why it affects some more than others, what measures can help reduce the spread, and where the disease will likely go next.

At the core of these efforts is something with which the healthcare industry is very familiar: Data.

James Hendler, RPISource: Xtelligent Healthcare Media

“This is, in essence, a big data problem. We’re trying to track the spread of disease around the world,” James Hendler, the Tetherless World Professor of Computer, Web, and Cognitive Science at Rensselaer Polytechnic Institute (RPI) and director of the Rensselaer Institute for Data Exploration and Applications (IDEA), told HealthITAnalytics.

At RPI, researchers are using big data and analytics to better comprehend coronavirus from a number of different angles. The institute recently announced that it would offer government entities, research organizations, and industry access to innovative AI tools, as well as experts in data and public health to help combat COVID-19.

“We’re working with several organizations on modeling and dealing with the virus directly using a supercomputer, and we’ve been creating some websites where we track all the open data and documents we can find to help our researchers find what they’re looking for,” Hendler said.

“We also have some work we’ve been doing in understanding social media responses to the pandemic. One project, in particular, has focused on tracking data from Chinese social media as coronavirus spread there in mid-January, and then comparing it to American data.”

Between recognizing signs and symptoms, tracking the virus, and monitoring the availability of hospital resources, researchers are dealing with enormous amounts of information – too much for humans to comprehend and analyze on their own. It’s a situation that is seemingly tailor-made for advanced analytics technologies, Hendler noted.

“There are several big data components to this pandemic where artificial intelligence can play a big role,” he said.

“One component is biomedical research. A lot of work is going on to try to develop a vaccine to find out whether there is any current drugs work against COVID-19. All of those projects require molecular modeling, and many of them are using AI and machine learning to map things we know about the virus to things in pharmacological databases and genomic databases.”

Several big-name organizations have launched projects like these – Amazon Web Services, Google Cloud, and others have recently offered researchers free access to open datasets and analytics tools to help them develop COVID-19 solutions faster.

“AI can eliminate many false tracks and allow us to identify potential targets. So instead of trying 100 or 1000 different things, we can narrow it down to a much smaller size much faster. That’s going to accelerate the eventual finding of the vaccine,” Hendler said.

Researchers are also leveraging AI to evaluate the effects of COVID-19 interventions on individuals across the country, Hendler stated.

“A second component has to do with natural language processing and social media. What can we extract from social media that can help our scientists? What can we learn about how people are bearing the burdens and stresses of the pandemic?” he said.

“With SARS and other outbreaks, we never really had to figure out how different social distancing techniques are impacting the spread in different places. You can’t just compare numbers, because there are a lot of other factors to consider. AI is very good at that kind of multi-factor learning and a lot of people are trying to apply those techniques now.”

At UTHealth, a team developed an AI tool that showed the need for stricter, immediate interventions in the Greater Houston area. And at Stanford University, researchers have launched a data-driven model that predicts possible outcomes of various intervention strategies.

Using big data and analytics tools of their own, Hendler and his team is aiming to do something similar.

“We have a lot of time-series data from China, we have information about airline transportation, and we have population models for each country. Now we’re looking at doing this in our own region, and seeing if we can track and predict the spread based on the kind of social measures taken within different regions,” he said.

“We want to prototype that in our region and then scale it up to the US, and then eventually, the world.”

AI can also help organizations draw on research from the past, applying this knowledge to present and future situations.

“A third area where AI can make an impact is in mining scientific literature,” Hendler said.

“In past years, you had hundreds of grad students reading papers and trying to figure out what was going on. At many universities, there’s a lot of effort to say, ‘What can we learn from what’s already been published?’”

While AI and other analytics technologies appear to be the best possible tools for assessing and mitigating a global pandemic, researchers can’t always access what they need to build these models.

“The ideal data is hospital data that would tell us who is experiencing certain impacts from the virus,” Hendler said.

“For example, one project we’d love to do would be to correlate environmental or genomic factors to the people who are getting advanced respiratory problems, which is what’s killing most people with this disease. Is there a genetic component to that? Is it something where environmental factors are some kind of comorbidity? But can we get that kind of data because of HIPAA restrictions.”

Instead, research teams should focus on extracting insights from the information they do have available, Hendler said.

“Information about how people are moving, the effect of travel restrictions or stay at home orders, how many people have what – that’s data we can get. The more details we can get, the better, and a lot of that data are starting to be shared because you don’t have to say who the people are, just where the people are,” he said.

The unprecedented impact of coronavirus around the world has sparked the need for unprecedented partnerships, and these collaborations will contribute significantly to finding viable solutions.

“In healthcare, academia, and industry are mostly set up for people to stay in their own lanes. But people are rapidly beginning to realize that attacking this problem is going to require a collaborative effort,” Hendler concluded.

“To make any real progress in this situation, you need to bring together people who understand the computation and AI, people who understand the biological and biomedical implications, and people who understand population models. It’s a very interdisciplinary problem, and to make any headway, we need the data and we need the team.”

Source: Jessica Kent


With the assistance of ERP software, many manufacturers in Vietnam and China remain active during this pandemic without accelerating the spread of the pandemic. This solution has proved its high value during this crisis as it allows workers to work from home and connection as well as internal/external communication to continue seamlessly.

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

IoT Adoption Continues

IoT Adoption Continues to Grow at a Slow and Steady Pace

A new survey from the New Eclipse Foundation says open-source options are gaining ground, owing to the continuous growth in IoT adoption.

The Eclipse Foundation, which focuses on the Internet of Things (IoT), has released its first annual IoT Commercial Adoption survey. The survey aims to understand the IoT industry landscape by identifying the requirements, priorities, and challenges faced by enterprises. Especially those organizations that deploy and use commercial IoT solutions, including those based on open source technologies.

Moreover, the survey includes details on IoT adoption by industry, top concerns by commercial IoT adopters, and breakdowns by organizational role.

Some of the key findings of the report are as follows:

  • Open source will penetrate IoT even further as 60% of companies will allow open source into their IoT deployment plans.
  • IoT adoption is growing; however, it is slower than the hype would indicate. Around 40% of respondents said they are deploying IoT solutions at present, and another 22% plan to start the deployment of IoT within the next two years.
  • Thirty percent of companies are planning to spend less than $100K in 2021.
  • There is a significant increase in the IoT investment, as 40% of respondents said they are aiming to shoot up IoT spending in the next fiscal year.
  • In the case of IoT deployments, hybrid clouds are taking the top spot. Cloud platforms, including AWS, Azure, and GCP, are the leading in terms of IoT implementations.

Today, markets are evolving from piecemeal implementations to more comprehensive solutions. Open-source solutions should be a core component of a company’s IoT architecture. This will majorly help in easing interoperability and save them from being locked with a single vendor. Manufacturers need to continue investing in IoT, as their competition is scaling their investment and exploring production deployments of this technology. They are implementing IoT solutions that collaborate on industrial automation, asset management, and logistics.

Some of the more innovative companies are relying on IoT technologies to improve their customer value proposition by offering preventive maintenance features. With the rollout of 5G in 2020, the adoption of IoT is going to become more extensive across industries; then, it is expected to drive the adoption of OS-based IoT tools, adding flexibility and strength to enterprise platforms.

Source: Sneha Bokil


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.

how ERP simplifies management

How ERP systems simplify management of day-to-day operations

ERP solutions are the go-to option for the efficient running of any industry, including simplified management. Irrespective of the span of any business, ERP, or enterprise resource planning systems are increasingly becoming an indispensable part of the retail industry.

 

Trustworthy business details 

One of the foremost steps to maintain a smooth business is to keep the business details precise, accurate, and up-to-date. ERP aids in quicker functioning and informed decision making of the organization by integrating an all-round, easily accessible database.

This not only improves the company’s stand in competition but also prepares a pitch for sudden market upgrades or disruptions.

 

Assimilation of multiple channels

In the retail market, there are numerous channels that need to work in coordination. This is important to make sure that everything functions in a smooth and organized manner.

This application helps all the channels to distribute all the information with each other in real-time. Hence, ERP helps the business with better communication among its different departments.

 

Improved management of inventory

Inventory is one of the most critical aspects of the retail industry. Its management is necessary to ensure how much storage is required and how much is to be foreseen. Here ERP helps the business with an extensive solution.

This is done by acquiring in-depth information about every product and to predict upcoming demands. This helps in re-stocking and preparing for the purchase trends of the customers.

 

Develops operational efficiency

ERP is helping companies manage and cut on operational costs. Some prosaic operations and monotonous tasks become banal in the business. With the help of ERP software, these can be decreased. The application collects, stocks, and maintains the data with the help of its automated system.

It can organize the gathered material, which, in turn, reduces the time and effort taken to complete the work. Hence, with the help of this software, businesses can make operational tasks more efficient.

 

Automation of sale and payment records

This resource planning software comes with an in-built POS system. The feature entails the ability to record details of all payments. It can help to increase the speed of the transaction process and eliminate the possibility of human faults.

ERP uses the POS system in order to decrease the waiting time for purchase billing. Another reason behind the popularity of this system is its ability to provide real-time data, which can be overseen and managed for various shops at once.

 

Building a strong customer base

Customers, being the end-users of the retail cycle, play an elemental role in its running. An ERP system customized with the customer management tool can help in the augmentation of the customer base of a company.

The ERP system makes a record of purchase history, inventory, and other such details that aid in building customer relations and retaining customers.

To keep themselves updated with the latest customer demands and to manage everyday operations smoothly, organizations resort to ERP.

 

Source: Best Techie


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 Vietnam and China, and many are big retailers. For direct consultation, please feel free to contact us.

epicor helps UK manufacturers

Epicor: Why connectivity is key for UK manufacturing

Epicor is helping UK manufacturers overcome the challenges of Brexit by achieving a connected enterprise through digital transformation.

Epicor’s roots go back to the early 70s when, in previous iterations, the company began developing software for job shop manufacturers. Fundamentally focused on delivering industry-specific core solutions for manufacturing, Epicor was founded in 1999. Where there is a customer demand – typically with lower volume, higher value types of businesses – Epicor’soffering supports manufacturers of configuring to order and made for demand products.

Digital Transformation

Epicor’s Regional VP for UK & Ireland, Mark Hughes, believes that the efficiencies technology can bring to manufacturers are critical and its where Epicor aims to be at the cutting edge with functionality. “Deployment methods, cloud, SaaS, all of these things are becoming more relevant,” he says.“Whether we call it Industry 4.0, the Internet of Things or simply connectivity, it’s about taking technology and really enabling a business to get value out of that. The big thing we’re seeing at the moment is interoperability between the shop floor and supply chain. The ability to take data from anywhere in your extended enterprise, and turn that into something that helps you react quicker and satisfy more customers by making better decisions.”

Hughes warns against the dangers of being seduced by the latest “shiny new things” which can create an unwanted layer of complexity rather than adding real value. He advises: “Whatever ERP product you’re using has to fundamentally behave in a way that your business does. Increasingly, a younger workforce expects tools and systems to behave in the way we’re accustomed to with apps on smartphones. It’s that user experience approach we’re adopting at Epicor. Achieving user adoption and making the tools easy to use is critical, and technology aids that.”

The challenge for widespread digital transformation in the manufacturing industries, from automotive to food & beverage, is a deeper one than that faced by service industries with a virtual business model. “Manufacturing tends to have a shop floor with tools and machinery,” notes Hughes. “It’s why these customers are more comfortable with physical servers and are less driven to move to the cloud. Hence the need to offer choice with hybrid solutions that can start on-premise and move to the cloud where required.”

Hughes sees the hybrid-type model offering flexible solutions for manufacturers. “You can do real-time data capture physically on the shop floor, analyze it and at the same time that data can be passed up into the Azure cloud. Combining this with other data being processed means another level of analysis can be achieved. It’s not only hybrid in terms of taking particular pieces of capability or functionality and choosing where they sit, but it’s actually about levels and layers within what you do, and using that differently.” Epicor’s customers are embracing this approach. Dutch fine metalworking company Boers utilizes a shop floor where every piece of equipment is IoT enabled (see video) and drones are even used for stocktaking.

Elsewhere, London Electric Vehicles (formerly known as black cab company London Taxi) is another Epicor customer in the throes of business transformation by applying technology to the manufacture of its new, cleaner vehicles. Ultimately, whether its fully connected or mechanical sensors used for local analysis, Hughes believes it’s all about what adds value giving companies the opportunity to do more for less and de-risk.

Brexit

Preparing for risk is a big focus for UK manufacturers operating under the looming specter of Brexit. “Uncertainty always offers opportunity if you’re geared up to take it,” says Hughes. “Looking at the two different sides of our business… For food manufacturers, there’s a great opportunity to embrace the made in Britain concept. We’ve got some very successful customers, such as Ian Macleod whiskey distillers, doing just that and sourcing local ingredients to make unique local products.” 

It’s a different story for companies reliant on extended supply chains across borders. “They’ve got huge problems to overcome,” reckons Hughes. “Whatever happens after October 31st transporting across borders will be a real challenge. We’re seeing customers stockpiling raw materials and components. From a systems perspective, being able to identify and declare origins of goods, whether it’s a hard or soft Brexit, is going to lead to the necessity to be able to provide a lot more information about how goods have been created. Many Epicor customers are familiar with offering high levels of traceability throughout their products, whether that’s serial numbers of electronic components or down to what field a potato was grown in that ended up in a bag of crisps. The ability to quickly adapt to changing reporting requirements is going to be critical.” Allied to this, growing issues with the movement and reduced availability of labor is having an impact that is changing the way companies do business. “Going forward it’s important for Epicor that anybody we choose to work or partner with has a similar global model,” says Hughes who believes that the spread of capabilities maintaining the ability to service customers will be vital.

Trends

Many UK manufacturers have excelled when it comes to design and prototyping at the front end, but Hughes believes there’s an opportunity to improve production processes via automation. “How do we join the two up?” customers are asking Hughes. “A lot of them are also looking to get technology across the supply chain, making it more robust with much better levels of communication and visibility.” Hughes also notes the prevalence of the “Amazon effect” in B2B leading to customers demanding reduced lead times even with configure to order custom products. “It’s why many of our clients are looking for technology to help them make better predictions about what their customers are going to want so they can satisfy demand quicker.”

Hughes highlights that the UK has been relatively slow to adopt technologies such as automation. “There is catching up to do across the board to keep up with industries like aerospace and automotive…” He believes the best progress can be achieved with automation in bite-sized chunks. “For some of our customers, that’s as simple as putting mechanical sensors on devices to count the number of cycles a machine goes through to then start looking at simple automated handling. For others, that’s right through to the use of fully automated cobots.”

Hughes speaks to UK customers building new factories with connectivity in mind from the outset. “They’re thinking about which areas, from IoT to automation, that will make them more efficient and add real value going forward,” he says. Meanwhile, Epicor is doing its part to encourage collaboration on these key issues facing manufacturers by inviting customers to participate on advisory boards which will shape the future of their products, and the industry itself. “Some weeks I’m visiting five different UK manufacturers,” reveals Hughes. “We’re seeing them go through significant business transformation projects. To be able to bring my 25 years of experience in and around software for manufacturers, and share that knowledge to help them use technology to make their businesses future proof really excites me.”


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

AI in finance ERP

How AI in ERP will create the finance team of the future

Finance and accounting professionals are under constant pressure from the C-suite to elevate the strategic relevance of their function. At the same time, they are under day-to-day pressure to help their organizations stay ahead of audit and compliance requirements, report on financial results, and manage ongoing accounting activities.

These activities are all critical for business growth. As enterprise resource planning is meant to be both the primary source of truth and technology used to perform these tasks, it can play a critical role in improving the ease and accuracy with which they are completed. Having the right ERP technology can make or break a finance team’s ability to focus on the strategic instead of the tactical.

Unfortunately, many finance departments are still mired in paper-based processes and manual data entry, and often conduct reporting and forecasting using tried-and-true spreadsheets with data aggregated from multiple sources. These outdated approaches consume excess time and resources, complicating what could be simple tasks for finance and accounting, and prevent a business from obtaining a holistic view of its financial health. In a recent survey conducted by Bottomline Technologies and Strategic Treasurer, finance professionals indicated that cash flow forecasting, invoice processing, and payment receipt and reconciliation all remain inefficient, manual financial processes.

This day-to-day reality at work is in painfully sharp contrast to finance professionals’ personal lives, where everything from managing their household finances to shopping online to composing a text message has transformed into more automatic and personalized experiences. This is thanks in large part to artificial intelligence — more specifically, machine learning and natural language processing.

The disparity between professional and personal does not need to exist because this same technology exists within ERP systems today. Much of the continued reliance by finance and accounting teams on manual processes at work can be attributed to inertia and comfort, versus a lack of options. AI and its offshoots are still intimidating concepts for many people, regardless of their profession. It can be difficult to determine where and how to implement these innovative technologies in practical ways.

The move to the cloud in ERP systems has enabled new ways to embed AI, machine learning and natural language processing as a value-add to customers. ERP technology providers have a significant opportunity to educate their customers on how these embedded technologies will not only make day-to-day financial operations and management easier but also propel finance and accounting teams into the future with newfound strategic value.

What are the practical ways in which these technological innovations can move from buzz to beneficial? Pairing the right processes and workflows with AI, rather than trying to force it across the board, can create a competitive advantage and enhance the strategic value of finance and accounting professionals.

Let’s look at some key examples of how AI can be applied to financial functions within ERP.

Automate manual tasks

Machine learning plays a huge role in automating repeat, mundane tasks, and can free finance and accounting professionals to focus on value-added activities that will drive their business forward. As an example, machine learning can detect when a user is performing the same task over and over and offer to automate it in the future. Entry and approval of purchase orders, invoices and payments typically consume a significant number of hours for multiple full-time employees within a middle-market or large corporate organization. Month- or year-end close activities are also highly time-consuming. While these activities can require human intervention from time to time, rules can be put in place to create straight-through processing in the majority of cases and only route outlier scenarios to staff or senior management for their review or action.

Machine learning-driven automation results in cost reduction, increased staff productivity and overall operational efficiency gains. Because they’re spending less time re-keying information or pushing paper around the organization, team members will have more time to spend collaborating with one another, solving problems they were previously too busy for, and further optimizing the finance function.

Deliver richer, more actionable insights

Machine learning makes it possible to analyze massive amounts of clean data and detect patterns and other relationships to make predictions — even from potentially disparate sources — with incredible speed and accuracy. Machine learning embedded in the ERP system can examine historical data from multiple internal finance functions and external sources such as bank accounts to help an organization more accurately predict cash flow. This technology can look at an organization’s production and sales patterns to improve inventory management, or examine payables and receivables data to find discrepancies in regular bills or make suggestions about when to pay a supplier.

The full extent of actionable insights that a finance function could obtain by implementing AI for data analysis is difficult to quantify. Needless to say, leveraging the technology in this way will ultimately enable finance professionals to increase the overall financial health of their business. Improved cash management, optimized payables, and receivables strategies, and reduced risk of making fraudulent or erroneous payments to business partners or employees are all hugely beneficial outcomes and are just the tip of the iceberg.

Improve the experience for end-users and external business partners

The use cases above all underscore the myriad ways in which machine learning can make daily work in the ERP system less frustrating and more gratifying for finance and accounting professionals. Natural language processing, which powers digital assistants like Siri and Alexa, is another technology that can make ERP system interactions more human and intuitive. Natural language processing can help users more easily search and interact with massive amounts of data that may be stored across applications or other silos, with a simple voice-based search.

This technology could also be applied to analyze conversations between trading partners and work in conjunction with AI to suggest the next steps after a conversation has concluded. For example, if an accounts receivable clerk reaches out to a customer requesting payment of an invoice that the customer then claims to have not received, natural language processing and machine learning could work together to automatically type and send an email from the accounts receivable clerk that resends the invoice in question without it bogging down a team member’s inbox.

The benefits of these elegant, time-saving processes go beyond efficiency and productivity. As opposed to job replacement, providing employees with this level of technical assistance can help businesses attract and retain valuable talent.

Looking ahead

We are still in the early stages of AI and machine learning’s impact on many financial and business management tools, including ERP. There is no question these technologies will ultimately transform work for the masses the same way they have transformed our consumer lives. How long will adoption take?

The answer likely varies by company size and industry. The turn of the decade will be an interesting time period for watching end users’ experiences with these technologies and the benefits realized, as this will help set the tone for further adoption within core ERP functions and beyond. For their own part, ERP companies should be focused on driving usage of embedded AI and machine learning across their customer base and ensuring their AI/ML strategy considers the capabilities and data from any broadly adopted plug-and-play technology partners in their ecosystem.

Source: Accounting Today


Data V Tech is proud to be one of the leading ERP vendors in the Asia Pacific. We have implemented Epicor ERP for many financial businesses in Vietnam and China. For further information about artificial intelligence – AI in financial ERP, please feel free to contact us.

Empower Business Data V Tech

erp supply chain trends

Top 3 ERP Supply Chain Trends for 2020

What are the top ERP supply chain trends for 2020? As we see the end of another year, people have been answering that question for the past two or three months. Preparing for those in the ERP industry for what’s to come. Next-generation technology has come to the forefront, and powerful emerging tech capabilities are having a great influence.

The supply chain ecosystem is typically consisting of manufacturers, suppliers, distributors, retailers, and customers. Supply chain management (SCM) involves planning, execution, control, and monitoring of supply activities within those realms. An ERP solution takes care of the physical aspects of supply; which includes storage and transportation and the market aspect of effectively managing demand and supply to meet customer demands.

Top ERP Supply Chain Trends for 2020

More Investment in Automation

The 2019 Warehouse/DC Operations Survey research showed that ERP systems or legacy warehouse management system options were the most popular choices. This year’s survey showed more people bringing automation to their processes, with 23% mentioning that compared to 15% last year. On top of that, 45% recognized that improving information technology in their warehouses was important for managing costs.

“The need to automate more aspects of the operation and find further efficiencies is certainly on the forefront for managers,” says Norm Saenz, Managing Director at St. Onge Company. “The reality is that the labor market is very tight, industrial space is tight, and these factors all play into the importance of automation, the value it can bring, and the speed of the payback. We are in active times right now as we move deeper into the realm of e-commerce, so it’s not surprising to see responses like healthy capex plans, more automation, and more people realizing they need good data with which to make smart decisions.”

Research from Emerald Insight shows that there is a positive and significant relationship between ERP systems (integration, material management, production planning, and controlling), and SCM performance. The findings of the Emerald Insight study imply that the successful implementation and the effective usage of ERP software can contribute toward enhancing SCM performance in many ways such as integration of internal business processes, enhancement of information flow among different departments inside the company, improvement of the company’s relationships and collaboration with outsourcing suppliers, customers, and supply chain partners.

Greater Need for Cloud-Based Solutions

Cloud solutions are increasingly gaining the attention of business leaders and quickly replacing legacy, on-premise solutions. In their latest press release, Gartner said the worldwide public cloud services market is forecast to grow 17% in 2020 to total $266.4 billion, up from $227.8 billion in 2019.

Cloud-based ERP systems offer the same level of functionality and security as their on-premise counterparts, while also reducing the sunk costs and customization woes that plague traditional software. Not many companies need an on-premise system anymore, so naturally, the market for cloud SCM systems is expected to grow in 2020.

“At this point, cloud adoption is mainstream,” said Sid Nag, research vice president at Gartner. “The expectations of the outcomes associated with cloud investments, therefore, are also higher. The adoption of next-generation solutions is almost always ‘cloud-enhanced’ solutions, meaning they build on the strengths of a cloud platform to deliver digital business capabilities.”

David Stephans, CRO of Rootstock Software said:

“I think the big thing we see in ERP for 2020 in the markets we focus on, which are manufacturing, distribution, and supply chain, is a move to the cloud. To the true cloud. It thinks too many companies today in their efforts to digitally transform, get closer to the customer, better respond to their customer demands, react to changes in the supply chain, and be responsive, are held back by legacy technology that isn’t connected, isn’t flexible, and isn’t modern. So I think we’ll continue to see manufacturing, distribution and supply chain companies move to next-generation cloud technologies.”

Increase of IoT Integration

With the rise of the Internet of Things (IoT), we are seeing an entirely new frontier open up before our eyes. IoT is transforming business models as we know it, adding a level of digital intelligence to the devices workers use on an everyday basis. From simply manufacturing and pushing products out the door, to becoming highly engaged service providers – the IoT has a profound impact on ERP systems and how manufacturers are accomplishing their day-to-day activities.

That being said, 2020 is likely to include an increase in companies using the IoT sensors and ensuring the respective data gets factored into the information shown in an ERP interface. Some supply chain leaders would normally lose sight of a product after shipping it out, for instance, IoT capabilities give them the ability to monitor each product so they can then better advise customers about when they should expect to receive it and offer additional services.

In the case of forecasting and inventory control, the IoT has a transformative effect on both. By allowing point-of-sale inventory levels to be shared directly to the shop floor, the IoT can give manufacturing companies a more profitable make-to-order model instead of the forecast-driven model. This applies to the replenishment of inventory stored as well.

Source: ERP Solutions Review

Epicor Automated Aftermarket Analytics

Epicor Automated Analytics Helps Aftermarket Businesses Drive Revenue

The portfolio of automated widgets is designed to help aftermarket parts distributors and service providers increase revenue by automating the delivery of vital product, application, account and other intelligence at the point of sale.

Epicor Software Corporation, a global provider of  industry-specific enterprise software to promote business growth, has unveiled a portfolio of automated widgets designed to help aftermarket parts distributors and service providers increase revenue by automating the delivery of vital product, application, account and other intelligence at the point of sale.

Rather than requiring a user to access business intelligence through discrete software, the new Epicor IDA widgets automatically appear based on keywords entered into any of a wide range of browser-based solutions, including electronic catalogs, shop management systems, and Microsoft Outlook email. A parts counterperson or repair shop service writer looking up “2015 Honda Accord Sport,” as one example, would be presented not only with corresponding parts and labor information but also a pop-up snapshot of leading, vehicle-specific service needs based on parts demand. The user can gain deeper insight by clicking on the widget to connect with subscription-based analytics available through Epicor.

“These new tools put Epicor on the leading edge of a trend known as ‘pervasive analytics,’ where we can deliver the valuable vehicle, product and customer intelligence directly to the point of decision,” said Rod Bayless, senior director, industry data analytics, Epicor. “We expect this portfolio of tools to ultimately help drive sales and transactional efficiency at every level of the industry, including in the vehicle repair bay.”

Epicor is offering free demonstrations of its new parts replacement rate widget, which ranks part demand by vehicle application across multiple product categories, and a customer account management widget that automatically provides account status, purchase trends and other key information when an authorized user enters the customer name into an integrated browser-based solution.

Source: After Market News

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

business live without ERP

Why Business Can’t Live without ERP?

Here is why business can’t live without enterprise resource planning (ERP). Defining ERP isn’t an easy task anymore. Gartner, which coined the term in 1990, defines it as “the ability to deliver an integrated suite of business applications.”

It wasn’t always this way, but as technology has evolved, so too has the ERP landscape. With the rise of postmodern ERP deployment and a shift toward third-party integration, the future of ERP as we know it hangs in the balance.

How can businesses navigate an increasingly complex and hard-to-define ERP software market? The ugly truth is that it’s complicated. But while ERP software might look different today than it did a decade ago, there are some defining characteristics that make this market unique. That’s where this article comes in.

Common ERP modules and functions

Modern ERP software encompasses a range of processes across the departmental spectrum. Here are the most common functions found in today’s ERP systems:

Also known as accounting, the financial management component records, processes, and organizes transactions within modules such as general ledger, accounts payable, accounts receivable, and fixed-asset tracking.

ERP software can automate core HR functions such as personnel tracking and benefits administration, as well as more strategic processes such as recruiting, employee evaluation, and training.

These functions support the planning and execution of supply chain transactions to optimize inventory levels and meet customer demand, from the acquisition of raw materials to production and delivery.

Using ERP’s manufacturing planning functionality helps to efficiently plan production based on materials, labor, and machinery.

Basic CRM functionality includes sales- and client-related processes such as managing contacts, leads, and cases.

Through their ERP system, businesses can manage projects independently so users can create plans, schedules, resource assignments, budgets, estimates, and more.

There’s a reason these modules are commonly found in ERP software: They are the foundation upon which most successful businesses operate. By streamlining these processes in one all-encompassing system, ERP software can provide organizations with a single data source, eliminating costly bottlenecks and boosting operational efficiency. Not only is this the software’s foremost benefit—it’s the reason it exists in the first place.

Fast forward to the early 2010s, when technology evolved to allow communication between different pieces of software, giving businesses the ability to build their own ERP system with best-of-breed solutions from the vendors of their choosing. Today, virtually any piece of software with integration capabilities can become an ERP system. This flexibility helps to relieve businesses of unnecessary costs and features, which use up valuable processing power and drag down the efficiency of the system.

New developments and features in ERP systems

As much as any software type, ERP leverages new and emerging technologies to increase operational efficiency. This has paved the way for features such as:

The hallmark of postmodern ERP deployment, integration helps businesses incorporate industry-specific applications from third-party vendors into their day-to-day and tailor their system to the needs of the organization.

In the last decade or so, ERP vendors have begun offering an alternative to on-premise deployment: a cloud-based option hosted on the vendor’s servers and accessed through any approved device with internet access.

A revolutionary efficiency boost, ERP systems can automate repetitive tasks, create workflows that trigger processes, and send notifications to users or payment reminders to clients.

These developments represent an unprecedented leap forward for the ERP market. Businesses that implement the tech-driven functionality above will experience significant increases in efficiency and insight into their organizational processes. Those that do not implement them not only risk falling behind their competition—the long-term health of the organization could be at stake as well.

To compete in the 21st-century economy, the implementation of these tools is imperative. Talk to your current or prospective vendors about whether they currently leverage such technologies and how they plan to utilize them in the future.


To find out whether your company needs an ERP and how it should be, please feel free to contact us. Data V Tech is proud to be the authorized partner of Epicor (one of the best ERP providers in the world) and the leading firms to implement this solution in Asia Pacific 

latest release of epicor

Latest Release of Epicor ERP to Support Talent Retention, Automation and More

Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, today announced the 10.2.500 release of its enterprise resource planning (ERP) solution. The new Epicor ERP release delivers on customer growth objectives with new capabilities to support cloud adoption, improve the user experience and ensure global readiness by helping companies address pressing market challenges such as the changing workforce.

“The need to attract and retain talent is more important than ever – with more people currently leaving the manufacturing industry than joining,” said Terri Hiskey, vice president. “Offering a modern toolset for next-generation workers which is more familiar and reminiscent of how they already interact with mobile applications, will help give them the experience they anticipate. We’re offering our customers the ability to choose their update path with tools and solutions that allow them to get where they want, however they want – via cloud environments or on-premise.”

The new release advancements help companies grow their business with technology solutions. They are purpose-built and leverage cloud capabilities, IoT, AI, and big data. With greater access to ERP data and the automation of redundant tasks, organizations gain greater visibility into their processes. Thus, they can translate to new levels of business efficiency and responsiveness.

The new updates of Epicor include:

  • Epicor Collaborate (a cloud-based solution): It simplifies collaboration and interaction processes. Moreover, it drives employee engagement by leveraging social media concepts to easily exchange information.
  • Epicor Virtual Agent – EVA – (the AI-powered virtual agent): It provides a new set of skills to modernize the experience for everyday functions. Some examples are purchase order approvals and supplier order processes.
  • Epicor Service Pro: It provides field service and mobile capabilities with time-saving automation tools. Those functions then streamline service calls, schedule and dispatch, quote, work order management, service contracts, asset tracking, and more.
  • Epicor Functions (the next evolution of Epicor BPMs): This solution provides new levels of flexibility. It can solve orchestration and integration challenges for cloud and on-premises customers.
  • New Cloud data centers (global centers in Australia and Canada): Their purpose is to better support more solutions built for the cloud.

“Small to mid-sized companies are looking to ERP vendors to democratize the advancements that big companies are making and keep pace with innovation – helping them understand how cloud environments, as well as tech advancements like AI and IoT, can be integrated within their business portfolios and drive bottom-line profitability,” said Ray Wang, Principal Analyst and Founder, Constellation Research. “Epicor is addressing this by offering ways for companies to start to leverage the power of Industry 4.0 technologies at an affordable price and with a clear path for growth.”

Source: Epicor

top rated ERP 2019

Epicor among Top Rated ERP Solutions for 2019

On March 6th 2019, TrustRadius released the top rated Enterprise Resource Planning (ERP) software solutions for 2019 based on evaluations of 23,900 TrustRadius users in the past quarter. Proudly, Epicor ERP was ranked the 5th position among multiple other software.

Users’ reviews so far have showed Epicor ERP is an ideal solution for the manufacturing industry. This software provides solutions in accounting, inventory control, CRM, project management, HCM, business intelligence, supply chain and production management, risk management, and asset management. Its aims are to help enterprises increase profitability, enhance productivity, and manage growth.

72% TrustRadius reviewers using Epicor ERP work for mid-sized companies. They value “Epicor’s immediate access to source data, low-maintenance cloud hosting option, and responsive customer support team.”

 

top rated ERP 2019

Epicor ERP, a great choice for manufacturing companies.

[Our company] uses Epicor ERP across all departments here at Baxter. We are able to do Sales, manage our inventory, purchasing, manufacturing, and handle all functions of accounting using Epicor. We made the decision to go with Epicor in 2008, and went live on January 1, 2010. We have upgraded the software a few times and love the improvements that Epicor continues to make with the software.

 

Jack PennypackerNetwork Administrator III - Baxter Manufacturing

Epicor Cheerleader.

Currently use Epicor ERP in all of our manufacturing, customer service, finance and engineering departments, some sales also included. Our next phase is to merge Epicor with Salesforce to have it be more seamless.

Verified UserC-Level Executive in Finance and Accounting - Maritime Company

Top rated ERP 2019 – Information for future users

Analysis shows what TrustRadius visitors care the most are product reviews and comparisons. Particularly, 56% read end-users’ feedback while 38% compared between at least two solutions. Such information then helps next buyers make better informed decision when purchasing a product.

Criteria to be top rated ERP software

Here are criteria to become top rated ERP software 2019: Firstly, the products must appear in the top level of their category TrustMap by February 13th, 2019. Then they must receive at least 10 reviews published within the past year with a satisfaction score of at least 7.5/10. Furthermore, they must share at least 1.5% of the traffic in the category.

TrustRadius verifies every reviewer and vets every review before publication. Then the platform marks the products on the TrustMap based on end-user data. Furthermore, the decisive elements are scores of users’ likelihood to recommend and buyer research patterns.