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Best Practices for Successful ERP Migration

Introduction

First, every business needs suitable Enterprise Resource Planning (ERP) software. ERP is a comprehensive software with different modules. It can handle accounts, finances, sales and revenue, customer relationships, warehousing, human capital, and inventory. Although ERP is essential, it can become outdated. If your business outgrows its software, you should do ERP migration. This article guide will teach you more about the ERP system migration process. So, read on to find out more.

Why does a business need to replace the current ERP ?

Although an ERP system is vital, it might fail to meet the needs of a business. Failure of the ERP can occur if your business is growing and innovating fast. If an ERP system fails, you should decide on two things: an upgrade or an ERP cloud migration. We will describe each in a different paragraph. Meanwhile, here are the reasons why your business should replace its current ERP.

ERP Migration Practices
  • The current software is no longer working well. It has become difficult to use, slower, and unreliable.
  • The cost of running ERP software is too high. This problem can happen if the software has become too old, increasingly undependable, or unsupported by the developer. The cost of modifying your software often to make it work well can be too high.
  • Your business has outgrown the software. Therefore, it means that the system will not fully support the current business needs.
  • The ERP has become so unusable that you are now using MS Excel or Google spreadsheets. If you will use spreadsheets when you have ERP, the latter is useless to you.
  • You cannot compete well anymore. No business wants its rival to have the upper hand. If the ERP software is so terrible that it makes you respond poorly to customers’ needs, change it now. Start creating your ERP migration checklist.
  • Slow software updates Your ERP supplier should add a new functionality often to improve their product. If they are taking too long, you should move to a better developer.

When to decide to migrate or upgrade ERP?

How can you tell that you have had enough of your current ERP software? Is it time to create an ERP migration plan? Here are the signs that the time for change has come.

  • Your business tasks are too inefficient these days A legacy ERP system is reliable until it becomes too wasteful.
  • Your current business needs are overwhelming. As a result, the software may no longer handle them. It may not adequately support your team’s growth.
  • Your customer care support service has deteriorated An old-fashioned ERP system cannot handle multiple user access. Hence, it cannot offer direct access to billing, inventory, and shipping data.
  • The legacy system cannot support remote working – The best solution would be ERP migration to cloud.
  • The existing ERP does not help your mobile workers Again, you require a cloud-based solution. Such a system will be easy to access on a mobile device.
  • Lack of access to real-time data A reliable ERP system presents data as things happen or change. If you have to find up-to-date information in person, you should get a better software solution.
  • You have non-compliance issues If you have received non-compliance letters from different regulatory bodies, get a cloud-based ERP solution now. It will respond better to the ever-changing compliance demands.

Migrating vs. upgrading ERP – What is the difference?

Now you know why you need another ERP platform. However, you need to decide between an upgrade and an ERP data migration process. Ensure that you understand the difference between the two. Hence, an upgrade is a software revision exercise. It can entail moving from a basic software edition to a premium version with better features. Software migration is moving data from its current location to another location. It is, therefore, a delicate process that might require more caution and resources. In short, you need to redesign the current data setup completely.

Challenges during ERP data migration

The process of migration involves moving data from your current ERP to the new data migration ERP system. While it sounds like an easy thing to do, it has its challenges. The following are some of the challenges:

  • You need financial resources – Before you do a data migration process, ensure that you have the money and time. As well, ensure you have knowledgeable people who can do the ERP migration project. Without adequate funds, you cannot accomplish your goals.
  • Duplicated records – You will not shift your data the way it is now. Instead, you will edit it to remove duplicate errors and other inconsistencies. The task itself can be complex because you must edit data from different sources. Eventually, the data format should be uniform, which can be tough to achieve.
  • It is hard to get everyone’s approval – More importantly, you can face difficulty seeking project approval from the top management. Hence, you must take the time to explain the reasons for ERP migration.
  • How to factor in compliance issues – How well you can comply with the law largely depends on how you process and store your data. If you are operating overseas, you have more regulations to follow. Abiding by all of them is one of the challenges in data migration in ERP.

Why leading distributors are migrating their Legacy ERP to the Next Generation Cloud ERP designed based on micro-services, Java, and Angular technology

The Legacy ERP system is one of the most popular software products. Since 1988, businesses have used it to run more efficiently. And why not when the product entails hardware and software at once? While the Legacy software works well, most businesses do want it now. Indeed, many distributors are searching for the most reliable ERP software. They are doing ERP data migrations regularly. But why don’t people like it now? What is wrong with the Legacy ERP? The biggest problem with it is that now it is an unreliable system.

Legacy ERP software is a powerful system, yes, but it is hard to move to the cloud. Some people think it offers poor usability, making it expensive to run. Besides, businesses want to embrace advanced millennium software products. As companies compete for younger talent, none wants to run old platforms that restrict technology. Furthermore, the early supporters of the Legacy ERP system are retired now. They had all the knowledge of running it and gone home with it. On the other hand, the current generation would rather avoid the Legacy ERP because they are more complicated.

Migrate to cloud ERP solution

ERP is more efficient, versatile, and cost-effective. However, if it becomes outdated or hard to use, you should consider getting a new one. In addition, you should be ready to face the ERP data migration challenges. As this is a big decision, you should slow down and plan carefully. In summary, consider these factors:

1. The total cost of ownership – Currently, you are running an ineffective on-premise ERP. To shift from it to the cloud ERP, you must evaluate the total cost of ownership? Hence, this will include the cost of buying, implementing, and maintaining software. Will you need to hire external consultants? Can you handle the extra expense?

2. Which cloud option is best for you? – There are various choices, including SaaS. Others are:

  • Private cloud solutions – These are dedicated clouds designed for one user only. As a result, they are more flexible, more secure, and highly scalable.
  • Public cloud solutions – As the name suggests, these are for businesses that want to share server space with others. They have lower maintenance costs.
  • Hybrid cloud options – These are a combination of a public and a private cloud. Also, they can be a merger between a public cloud and an on-premise platform. They are the easiest to deploy.

3. Create a suitable ERP data migration plan – If it is easy to customize your current ERP system, it might be easy to shift it to the cloud. In your migration plan, select a system that will be more beneficial. Consider how software shifts can affect your business functions. Are some applications harder to move? Concerning data, will it need thorough editing before importing it to the new ERP? If so, who can carry out the editing work, and what will it cost the organization?

4. Make everyone aware of the ERP cloud migration considerations – Organizational change management status can affect the migration process. If people have accepted the process, they will ensure its success. On the other hand, if they are afraid of the transition process, it is likely to fail. To ensure that your workers are ready, organize their training needs.

Why are distributors migrating to Cloud-based ERP?

Distributors and manufacturers are in dire need of better ERP software. Their distribution processes are too complex to tackle with ordinary software. Legacy software is too rigid to meet their ever-changing needs. As the supply chain gets complex, it gets harder to manage. More intermediaries require better treatment and management.

Hence, distributors have realized that an advanced ERP is the only best solution. It is highly scalable, flexible, reliable, and cost-effective. Besides, they can now use distributor-specific ERP that can help solve their problems. Also, distributors can access different data patches in real-time. Above all, cloud storage is better for distributors because they need to access data remotely.

See Also : How to ensure a successful Data Migration to a new ERP?

Conclusion

If your existing ERP is not functioning well, you can change it. While a software upgrade may be less expensive, it may not be the best choice for you. Why would you want to upgrade software that is too expensive to run? Migrating to cloud-based ERP solution is a more prudent move. If you plan the process well, it will turn out successful. Lastly, ensure that your resources are enough for data migration and complete implementation of new ERP software.


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How to ensure a successful Data Migration to a new ERP?

Lets Find out how to successful Data Migration to a new ERP

An Approach to a Easy Data Migration phases To New ERP

  • ERP implementation is a multi-layered, complicated endeavor that needs to be carefully planned and managed. One of the important layers is the part of migrating your data to the new ERP system.
  • Many companies make the mistake of assigning very little importance to this essential task. As a result, they either end up scrambling at the last minute to resolve data display issues or end up with a frustrating mess of an implementation altogether.
  • There are, however, steps you can take that will help you make sure the ERP data migration process proceeds without glitches and in as short a time frame as possible.
  • Data migration phases is the process of organizing, restructuring, copying and migrating data from your old ERP systems to your new solution
See Also : 4 Key Practices for Successful ERP Migration.

1. ANALYZE THE ERP DATA MIGRATION PROJECT

Analyzing your data way ahead of the actual migration is a crucial step. You know that your business deals with different kinds of data.

  • Master data – the core data that is essential for the operation of your business processes. It is a consistent set of attributes and identifiers that describes the different entities of your company, e.g. customers, products, suppliers, chart of accounts, etc.
  • Historical data – collected data that is over two years old.
  • Live/current data – all of your recent transactional data

So before you let your vendor embark on ERP data migration, you first need to make some decisions about these types of data.

This can be a tricky and complicated process. If your employees had been inputting data into your legacy system using standardized processes all along, then that’s great news. If, however, at some point or another they had created their own ways of data entry, it may open the door to a whole new set of complications.

You have to define things like,

  • What data has to be migrated first.
  • When the data should be migrated, either close or after the Go-live date.
  • Which historical data has to be migrated to the new system.
  • The levels of access to users of the data, etc.
Data Migration ERP
ERP Data Conversion Best Practices

Hence it is very important to overlook the planning and strategizing portion of the data migration phases if you don’t want to be hit with unpleasant and frustrating complications.

2. REVIEW YOUR DATA AND PROCESSES

You have to assess whether you actually need all the data in the new system or not. Before migrating your data from your Legacy system to a new ERP system. you have to do some spring cleaning.

  • Review your data and decide on its quality. This is the perfect opportunity to rethink or reassess the ways to record data.
  • You may also want to consider changing your processes and ask your new ERP vendor for recommendations on the structure of the data which is stored.
  • You have to assess whether you actually need all that data in the new system. This is the time to clean up irrelevant information, inaccurate data and duplication.

In the end, you should have organized, consistent data categories ready to be migrated to the new system.

3. ASSIGN THE RIGHT PEOPLE

  • Apart from making sure that your vendor is completely briefed with the information about your data before they begin the migration process, on essential success factor for this project is assigning an in-house team or employee that will super head the process.
  • Ideally, these people should be long term company employees who are well versed in the company background and its history with legacy systems.
  • These employees can surf your company to extract and organize that data into structured charts.
  • You, in turn, will rest assured that you have trusted people that will make sure to keep pushing the ERP data migration forward until everything is successfully entered the new system.

4. REMEMBER THAT TIME IS OF THE ESSENCE

  • The way you map out your data migration processes is crucial. You should have a clearly defined timeline that reflects the types of data, the amount of data, the necessary changes to be made, etc.
  • Do make sure to also have contingency plans for delays – unforeseen issues are more likely to arise than not.

5. TEST AND FIX ISSUES IF NEEDED

In order to make sure that everything goes correctly and according to plan follow the following testing procedure :

  • First take a small amount of test data.
  • Make sure that it loads correctly in your new ERP system.
  • Check how the new solution is handling the data, take the feedback.

Your key users should then take the new system for a test drive. Simulating their daily business processes and running rigorous tests on the system. This is the key step in catching problems and tracking them early.

Conclusion

“Switching to a new ERP system is never easy, and data migration is one of the more complicated parts of the process. Planning ahead and defining a strategy for the process will save you a headache in the future.”

Get in touch with us to see how Ximple Solutions can help your Distribution Business!


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5 Reasons Why Modern Cloud ERP Boosts Your Business?

Digital disruption has introduced more data sources, more channels, more complex business models and increased globalization. Along with it has come mobile, social, analytics and many other technological innovations. With modern cloud ERPs organizations can Achieve greater Productivity and Control. lets find out 5 Reasons Why Modern Cloud ERP Boosts Your Business.

In this environment opportunities are rife but old monolithic enterprise resource planning (ERP) systems are ill-prepared to deliver the support for the increasingly dynamic decision making processes that businesses need to succeed.

To support improved decision making and action taking, modern cloud ERP platforms give organizations :

Modern Cloud ERP
Benefits of Modern Cloud ERP
  • The ability to analyze business conditions.
  • To develop improved business plans.
  • Monitor and Measure progress.
  • Provide visibility into day-to-day operations.

In a recent survey by Ximple Software executives were asked to list the issues that would have the biggest impact on finance and accounting in their business over the next two to three years. The top two responses were big data and investment in new or more Advanced IT systems.

Here are 5 reasons which of the following is an advantage of Modern Cloud ERP:

1. Single source of Truth and Accurate and Timely insight

  • Decisions made from a report of how the business is performing give any company a competitive advantage.
  • According to your business need modern cloud ERP can centralize its data to a Cloud ERP or a On-site Server.
  • When all data is consistently stored in one place and accessed independently, regardless of if it’s used for financial reporting, operationalcontrol or budgeting/planning, the business can provide a superior customer experience. This is a serious advantage in crowded, complex or fast-moving markets.

2. Real Time Data

Decisions made from a report of how the business is performing give any company a competitive advantage.

According to your business need modern ERP can centralize its data to a Cloud ERP or a On-site Server.

When all data is consistently stored in one place and accessed independently, regardless of if it’s used for financial reporting, operationalcontrol or budgeting/planning, the business can provide a superior customer experience. This is a serious advantage in crowded, complex or fast-moving markets.

Decisions should be based on the most up to date Real-Time information, not traditional reports which are out of date as soon as they are created. This type of information enable.

  • Greater customer satisfaction.
  • Operational efficiency.
  • Better business performance.
  • Getting the Right Information to the Right Person at the Right Time your business demands can make a difference between closing or losing a deal
  • Real time flow of information form the Core Modules of a Modern Cloud ERP enable decision-makers to not only view the data they need but also place it within the right context so that the right decision can be made and achieve greater efficiency across the value chain.

3. Automating Decisions

  • Smart businesses know that by automating the right decisions, staff can be freed up to use their initiative, experience, and instinct to innovate and drive the business forward.
  • It makes little sense to have senior people making decisions that could easily be made within business systems.
  • For automated decisions modern ERPs are Specifically designed for each industry.

4. Workflows and Alerts

Creating and enforcing unique business processes through workflows and alerts supports continuous improvement and increased productivity. Waste can be eliminated without major customization and decision-makers can focus on accessing the right data.

Setting up the right processes for centrally managed data and workflow automation should be an easy process and with a flexible platform, these processes can be adjusted and fine-tuned as the business changes and grows.

5. Knowledge Base of Resources

Creating and enforcing unique business processes through workflows and alerts supports continuous improvement and increased productivity. Waste can be eliminated without major customization and decision-makers can focus on accessing the right data.

Setting up the right processes for centrally managed data and workflow automation should be an easy process and with a flexible platform, these processes can be adjusted and fine-tuned as the business changes and grows.

  • Collaborating around a project.
  • Procurement Challenge.
  • Customer Incident.
  • Budgeting Process.
  • Lack of collaboration in the old systems leads to a big revenue loss. Modern Cloud ERPs offers a Ideal Solution for many of the business problems and seamless interaction among various modules.

Ximple is the Best ERP software, that provides a highly scalable and cost-effective solution, easy implementation and a world class support allow business leaders to confidently take advantage of windows of opportunity and grow their business.


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Top 6 Reasons Why Companies Purchase an ERP System?

Now is ERP solutions offer you many different selections to help providers accomplish this objective. However, leading ERP applications goes beyond handling daily operations by providing tools to induce customer involvement and incite customer devotion. lets identify Why Companies Purchase an ERP System

1. Legacy System

Among the most frequent reasons why businesses buy an ERP system is since their current legacy system is not worth the annoyance or cost, and a choice is made that it is time to cut loose. We are increasingly viewing legacy systems that are no longer supported and consequently have outstayed their welcome via stale operation and increased danger of collapse.

Old technologies is often a lot more costly to maintain than newer, lighter systems, by an overall maintenance perspective. Additionally, since the machine platform or code era, it becomes more challenging and more costly to discover a support team that is knowledgeable about the obsolete system.

Companies that are still working with legacy systems also see that they may have safety problems, a lack of modern features and performance, and too little flexibility to customize or integrate. The machine becomes a ball and chain to the company to grow.

2. GROWTH

Just like how children experience growing pains, so to perform businesses — it is part of growing up after all. As a company will become more and more recognized in a current market, it is very likely that preexisting — or’base’ — systems and processes are not a fantastic fit.

This expansion, called organic expansion, often requires more than only a straightforward accounting system. During expansion strategy implementation, everyday complexities like handling several places, coping with improved staff communication demands, and also the necessity to better manage processes arise that heritage or fundamental systems cannot manage.

Additionally, as a company grows, so also does the value of departmental data management and data flow. The procedure for sharing information across sections becomes a challenge since the data becomes trapped at section silo and is not readily accessible.

Together with organic expansion, businesses may also experience non-organic expansion such as mergers and acquisitions. An acquisition plan might incorporate a system that may be flexible in embracing and integrating numerous methods of handling and monitoring a business enterprise. That approach may also incorporate a system that’s simple and quick to rollout at recently acquired branches or companies.

3. DIVESTITURE

It is not unusual to find companies seeking to re-focus their surgeries, mainly when a subsidiary of this business is underperforming or does not match with future goals and direction. Even though a subsidiary might be experiencing modest to no expansion for part of the more significant corporation, it might be very beneficial to the market as an independent operation.

For subsidiaries who are very spun off, it’s normal that they need to put money into another sized system and begin with clean information and tailored information fields. In addition, for a business spinning off a branch or merchandise, a new ERP system may ease the change of focus from a service or product, and help to achieve a’clean break’.

ERP System
ERP System Benefits

4. CHANGE AGENT

An ERP is a great approach to ease cultural change within a company. Implementing an ERP system puts expectations and boundaries ‘the way we do things’ and what is okay. It frequently guarantees a provider grows more accountable with compact internal procedures, enhanced coverage, and is a chance to decide on a focus on what needs to be monitored inside the business.

Firms experiencing a tactical management change also generally achieve for an ERP system. They could be considering changing a product line, a service line, or even attempting to change the branding of their business – a practice that starts internally.

5. SILOED DEPARTMENTS OR LOCATIONS

ERP’s supply vision into inter-departmental pursuits and situational awareness that’s not possible to obtain with no ERP. They allow organizations to use the same information across sections, stamping out the danger full of time-consuming, cash wasting exercise of duplicate data entry.

Businesses will also proceed into an ERP whenever they need to set up the government to make sure distributed teams function and operate the same manner throughout the organization. Risk reduction is found in lessening the incidence of individuals or places performing a similar procedure in vastly different manners.

6. KEEPING UP WITH COMPETITION

An ERP is now a’must-have’ for any business seeking to stay competitive, as progressively organizations seem to technologies to gain competitive benefits.

Organizations are searching for faster access to data, history, and statistics to make conclusions in a more expedited manner. They are also seeking to enhance the client experience without including extra costs related to greater headcounts.

With countless ERP implementations under their belt, Liberty Technology Advisers understand what to ask and understand what is reasonable (and ridiculous ) when it concerns the execution and contractual discussions. You would not walk into a restaurant blindfolded and expect you to select the ideal meal for you, so why if you do precisely the same using something as essential as an ERP system?


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How to Identify that which is the Best ERP ?

While it would be nice if there could be a simple and consistent answer to everything, there is not one ERP that really is the best. The better question to ask is ‘what is the best ERP for my business?’ The right ERP is the right fit and it will vary depending on your business, your industry, size, your budget and your needs.

What might be the best solution for multinational organization will not meet the needs of SMEs that are just getting started.

Let’s have a look how to Identify that which is the Best ERP

  • To find the Ideal ERP for you, you need to keep a close eye on your business, your strengths, your weaknesses and your needs, and then do a little research to find the ERP that is tailor made for your unique business.
  • There were only a few ERP providers in the market for such a long time, but today there are ERP vendors for every industry, size and specialty.
  • The Good ERP for you will be one that specializes in your business line, and the features you need to improve your business.

YOU ALSO KNOW THAT

  • To find the good ERP for you, you need to keep a close eye on your business, your strengths, your weaknesses and your needs, and then do a little research to find the ERP that is tailor made for your unique business.
  • There were only a few ERP providers in the market for such a long time, but today there are ERP vendors for every industry, size and specialty.
  • The best ERP for you will be one that specializes in your business line, and the features you need to improve your business.
Best ERP
How to Identify that which is the Best ERP ?

Great ERP IS WHAT HELPS YOUR BUSINESS

Before you start researching ERPs, and are dazzled by cutting-edge features and sales pitches, sit down with a small, trusted group of people at your company and ask yourself what do we need to improve to be a better business? The best sentence to use for absolute clarity is “We need to improve ______ by ______.”

Maybe you need to improve profits by reducing the cost of raw materials. Maybe you need to minimize errors by specifying procedures.

Once you know what you want, your organization has a specific need to improve your business, then you can start looking for an ERP system with the right features for you.


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8 Features that Describe the Importance of ERP for Business.

  • Along with the worldwide ERP software program market anticipated to be price $41.69 billion from the year 2020, the impact of the systems is clear. Whereas this volume is outstanding, those that have by no means used the pc software program may discover it challenging to know why ERP is critical to their enterprise.
  • Nonetheless, as globalization dominates {the marketplace} for many companies, it’s vital to search out all instruments to offer your organization an aggressive benefit. For many companies, that is completed by way of utilizing ERP.
Importance of ERP
Importance of ERP

WHAT ARE THE USES OF ERP?

ERP is widely employed by firms working within the distribution chain to keep track of all of the moving parts of distribution and manufacturing. But, ERP can be used by a lot of different sectors, including people in Purchasing, Sales, Accounting, Inventory, Warehouse, Employee gateway, Operations, etc. Organizations needing to control their employees, inventory, and customers can rely on ERP advantages.

WHY USE ERP? Importance of ERP

Enterprise resource planning software is used to handle several business purposes, but how can it be better than other alternatives? Though ERP might have similar aims to other options, its specific attributes make it a distinguishing competitor in the applications marketplace.

Here are the 8 reasons why the significance of enterprise resource planning (ERP) systems must be regarded by any company:

1. More Money Saved

  • Though a lot of vendors have introduced flexible pricing in the last several years, ERP packages continue to be a large investment. For all, the high costs alone could make it seem improbable that the program will wind up saving your company any money in any way. But when you get past the sticker shock, it is a lot easier to see how ERP can supply a superb ROI.
  • To start with, ERP allies quite a lot of the programs which may presently be fragmented on your group. From product growth to account payable, your staff can have the flexibility to get all the wanted instruments for his or her venture from a centralized system.
  • By consolidating techniques, you help your employees use their time better. With ERP, users do not need to look down a slice of data across multiple programs. Together with the database, data is a lot easier to regain.

2. Improved Collaboration

  • The qualities of ERP software may vary slightly based upon the app you’re using, but all systems enhance collaboration in some manner. As stated earlier, the database is an essential component of what creates an ERP special.
  • With this database, you also give your firm with just one source of facts to operate from. This reduces any mistakes caused by using the erroneous information, further reducing prices.
  • Furthermore, a central database minimizes any hesitation or stalling throughout jobs, since all staff members have access to this company-wide information they require. Additionally, there’s no requirement to unite information across different sources or systems.
  • Since each the information is accumulated, saved, shared, and accessed via one system, there’s not any concern about the way accurate, complete or protected the information files are.

3. Better Analytics

  • A central database of data also assists in enhancing your reporting and analytics. As ERP documents and stores, all of the information users enter, it makes for a superb company intelligence tool.
  • So long as your seller offers strong performance, ERP applications make it simpler and quicker for your team to create many reports. Reports which could take weeks of research and compilation with no ERP takes only minutes.

4. Improved Productivity

  • With conventional procedures, tedious jobs are unavoidable. Tasks such as creating reports, tracking inventory levels, timesheet processing and tracking orders have taken workers hours to achieve.
  • Along with carrying uptime, these procedures lower worker morale and open yourself up to a human error. Following the umpteenth hour of entering the identical line of information into various types, even the very best staff members will definitely make a mistake.
  • In the event you pick the best solution, an ERP can automate your most boring tasks. The database inside ERP software removes redundant tasks like data entry and permits the system to do complex calculations within seconds.
  • This frees up your staff members’ time to perform more considerate work, raising your ROI when it comes to labor. By doing this, ERP boosts your company’s productivity, efficiency, and endurance.

5. Happier Customers

  • Handling your clients has never been so significant. In our electronic age, an increasing number of folks are turning to the world wide web to obtain information on what clothing to wear, what food to eat, and how to live their own lives. And with 84% of customers expecting online reviews as far as they would a buddy, previous client remarks are more impactful than ever before.
  • The very best method to enhance customer satisfaction is to supply client-centered services and goods. ERP provides this in a couple of various ways. To begin with, many ERP are outfitted with a client relationship management (CRM) tool or can be readily incorporated with you. Having an ERP, your CRM has access to information across company purposes.
  • Together with contact info, an integrated CRM can reveal information like order history and charging info. This allows your team to view your own customers more to acquire a better comprehension of their needs and requirements. The higher customer visibility makes it possible to invent your revenue strategy for enhanced lead generation.

6. Simplified Compliance and Risk Management

  • As firms grow and do business in different states, it can be hard to keep track of all of the various regulations imposed on your company. Even local companies will need to fret about different environmental, data security, and human resources regulations.
  • Fortunately, lots of ERP offerings are constructed with all these regulations in your mind that will assist you in keeping compliance at each stage. Additionally, ERP applications offer built-in auditing programs to help with assigning things like compound usage and tax provisions. This makes it unbelievably simple to invent reports and send them to the applicable governing body.
  • Furthermore, ERP frequently provides tools to control risk. This solution’s improved accuracy and reliability general financial management as there’s less opportunity for errors throughout bookkeeping.
  • Forecasting tools also enable users to forecast events as soon as it comes to demand, labor, and price range. With this data in hand, you can produce more secure budgets, programs, and product development strategies.

7. Improved Inventory Monitoring

  • A significant challenge for growing businesses is monitoring and tracking their expanding stock amounts. ERP uses barcoding, RFID tags, and sequential numbers to keep tabs in your stock at each stage through the distribution chain.
  • These tools help you keep costs on stock levels at several warehouses, which things have been in transport, and which items are on the shelves ready for customers. The greater warehouse visibility optimizes the selection, pack, and ship procedure significantly, eliminating all of the guesswork.
  • Inventory monitoring additionally strengthens reporting, as monitoring technologies provide more precise numbers. Users may configure customized KPIs to determine which goods move the quickest demonstrating greater need and which raise carrying costs.
  • Together with the greater accuracy provied by ERP, warehouse supervisors may get real-time information on their stock to make more accurate business decisions.
See Also : What is ERP? | How It Can Help Your Business Grow.

8. Improved Production Planning and Resource Management

  • Together with managing the inventory, ERP additionally manages to fabricate. ERP offers insight into all production operations, including the store floor. This permits users to maximize production programs, labor, and equipment to optimize capacity.
  • Furthermore, ERP oversees your Bill of Materials (BOM) and adjusted assets. With this application, users can quickly create and edit BOMs together with keeping an eye on previous changes.
  • Fixed asset management lets users schedule equipment maintenance to decrease sudden downtime, enhancing your endurance and supply chain connections.

Conclusion

The significance of ERP far outweighs the initial cost, effort, and time involved with execution if you opt for the ideal solution. Watch our ERP Buyer’s Guide to learn more about functions and features, implementation objectives, and questions to ask sellers.

With sufficient careful study and thoughtful consideration, you will locate ERP applications that provide all of the advantages listed above, painting an image for why ERP is significant to a corporation.


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Enterprise Resource Planning – ERP

  • Enterprise resource planning (ERP) is generally known as a type of company management application, typically a package of integrated software that a company may use to gather, store, handle, and interpret data from several small business tasks.
  • Enterprise Resource Planning provides an integrated and continuously updated view of core business procedures using shared databases maintained by a database management program.
  • ERP systems monitor company resources such as money, raw materials, manufacturing capacity, and also the standing of company responsibilities: orders, purchase orders, and payroll.
  • The software which forms the system share information across different sections (manufacturing, buying, accounting, sales, etc.) that offer the information.
Enterprise Resource Planning
Enterprise Resource Planning – ERP

ERP Functional Areas of Management

In Enterprise Resource Planning systems, Below are Functional Areas of Management:

Enterprise Resource Planning includes Financial Systems :

General ledger, fixed assets, payable including vouching, matching and payment, receivables and collections, cash management, financial consolidation.

Purchase :

Purchase Orders & Contracts, Invoice, Tracking & Aging, RPO, Vendor Relations, Goods Received Management, Back Order Report, Links to Updated Price and Products.

Operations :

Workflow & Business Rules, Activities & Approvals Business Intelligence, Role-specific, Dashboards Document, Management Real Time Solution.

Accounting :

Budgeting, Costing, Cost Management, Activity-Based Costing.

Human Resources :

Recruiting, Training, Rostering, Payroll, Benefits, Retirement, Pension Plans, Diversity Management, Retirement, Separation.

eCommerce :

View your inventory, Get pricing as if they were at the store, Place orders and quotes, View past orders and trace open orders, Generate their current statements, Keep track of multiple jobs, Start a return.

Manufacturing :

Engineering, bill of materials, work orders, scheduling, capacity, workflow management, quality control, manufacturing process, manufacturing projects, manufacturing flow, product life cycle management.

Sales :

Sales Quotes & Contracts, Order Entry, Lot Orders, Discount Layers, Payment Terms Automation, Opportunity Management, Return Management, Authorization.

Order Processing :

Order to cash, order entry, credit checking, pricing, available to promise, inventory, shipping, sales analysis, reporting, sales commissioning.

Warehouse :

Easy receipt entry of goods, Automated and manual transfers between distribution centers, Comprehensive shipment management, Setup of delivery routes, Notify customers on shipment.

Inventory :

Multi-organization & Location Costing Flexibility Inventory Allocations & Transfers Non-inventory Cost of Sales Warehouse Management.

Vendor :

EDI Point of Sales Point of Transfer SPAs SPJs Vendor Pricing Updates Goods Issues Buying Groups.

Advantages of Enterprise Resource Planning ERP Systems

  • Sales forecasting, which allows inventory optimization.
  • Matching purchase orders (what was ordered), inventory receipts (what arrived), and costing (what the vendor invoiced).
  • Revenue tracking, from invoice through cash receipt.
  • Provides a comprehensive enterprise view, making real–time information available to management anywhere, anytime to make proper decisions.
  • Order tracking, from acceptance through fulfillment.
  • Chronological history of every transaction through relevant data compilation in every area of operation.
  • Facilitates standard product naming/coding.
  • Protects sensitive data by consolidating multiple security systems into a single structure & Brings legitimacy and transparency to each bit of statistical data.

What are the Primary Business Benefits of an ERP System

  • ERP creates a more agile company that adapts better to change. It also makes a company more flexible and less rigidly structured so organization components operate more cohesively, enhancing the business—internally and externally.
  • ERP can improve data security in a closed environment. A common control system, such as the kind offered by ERP systems, allows organizations the ability to more easily ensure key company data is not compromised. This changes, however, with a more open environment, requiring further scrutiny of ERP security features and internal company policies regarding security.
  • ERP provides increased opportunities for collaboration. Data takes many forms in the modern enterprise, including documents, files, forms, audio and video, and emails. Often, each data medium has its own mechanism for allowing collaboration. ERP provides a collaborative platform that lets employees spend more time collaborating on content rather than mastering the learning curve of communicating in various formats across distributed systems.
  • ERP offers many benefits such as standardization of common processes, one integrated system, standardized reporting, improved key performance indicators (KPI), and access to common data. One of the key benefits of ERP; the concept of the integrated system, is often misinterpreted by the business. ERP is a centralized system that provides tight integration with all major enterprise functions be it HR, planning, procurement, sales, customer relations, finance or analytics, as well to other connected application functions. In that sense, ERP could be described as “Centralized Integrated Enterprise System (CIES)”

“At Ximple, we constantly upgrade our software to the newest and the most advanced technology. We have integrated the most cost-efficient payment processing module that has proved guaranteed raise in profits along with impeccable customer satisfaction”


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How Credit Card Processing ERP Affects Your Business?

Let’s find it out The Power of B2B Credit Card Processing in ERP Affects Your Business guarantees High Profit returns.

Speed is something which cannot be compromised in today’s age. We have understood the power and capability of simple credit cards that we seldom use when we go to a supermarket or get meals.

However, from the B2B business’s point of view, we have many inefficiencies and higher processing prices for credit card integration.

Clunky and pricey credit card processing are weighing down your team. Therefore it’s time to include a payment gateway that is derived from the most suitable Cloud ERP Program.

Listed below are the finest few reasons why you should use Ximple charge card integration to approach your payments :

Ximple Cloud ERP Credit Card Integration

1. QUICK B2B CREDIT CARD PAYMENT ACCEPTANCE

  • Our B2B Credit card processing is considerably a lot more complex than B2C credit card processing, we make B2B Cloud-Based Credit Card processing Simple.
  • Producers, distributors, and wholesalers often don’t interact with the client’s face. Instead, they take credit card orders on the World Wide Web, via the mail, or on the phone.
  • These distant transactions call for a good deal of data entry, it adds up to lots of missing time and ensures fast transactions.
  • Payment integrations Permit You to accept credit cards Interior Ximple Cloud ERP without having to change to a different application. They also save customer payment information about protected, offsite, and PCI-compliant servers, which means that you can quickly pull their data for duplicate orders, which saves time.

2. REDUCED PROCESSING COST

  • Card processing charges are greater for B2B businesses than B2C Businesses, in substantial part because of the increased risk related to B2B.
  • To account for this higher financial risk, banks put higher processing charges for B2B.
  • ERP Card integrations can substantially lower these trade Prices for B2B businesses. Integrations mechanically pull trade details from Ximple and furnish them in the time of this trade.
  • This extra information better ensures the safety of B2B transactions and leads to reduced processing fees.

3. BETTER CLIENT EXPERIENCE

  • Payments from the Customers are not Disruptive or time-consuming procedure.
  • Invoicing portals Enhance the collection encounter by You begin with uploading customer invoices into a secure online portal from Ximple.
  • Customers can utilize any wise device to log into the internet portal site and pay down their invoices in their advantage. Paid invoices digitally revert back to Ximple and upgrade your AR and GL.
  • A fantastic feature that enriches the customer interaction is email Pay, which lets you send email invoices to customers from inside Ximple Cloud Credit Card Processing ERP Affects Your Business.

Conclusion

“At Ximple, we constantly upgrade our software to the newest and the most advance technology. We have integrated the most cost efficient payment processing module that has proved guaranteed raise in profits along impeccable customer satisfaction”


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What is Cloud Computing Services? Cloud Computing at a glance

Cloud computing services dates back to the 1950s when mainframe computers came into existence. Cloud computing had just started with mainframe computers being hosted via dummy portals to a central computing system. This technology further came into the limelight in the 1990s when the concept of virtualization was introduced and expanded..

The cloud services that we have today is the result of the increasing demand and evolution of this technology.

So what’s exactly is today’s modern-day cloud computing?

How has this technology that started with mainframe computers being centrally hosted become an integral part of today’s digital world? And how does it evolve continuously?

Let’s have a cloud computing at a glance

What is exactly is cloud computing services in today’s time?

Need for cloud technology to evolve: As per statistics

  • Enterprise workloads are dependent on cloud technology in 2020
  • Enterprises already use a cloud service.
  • Of all IT budgets are allocated to cloud computing.
  • Enterprises already have a central cloud team or a cloud center of excellence.

Therefore, the cloud service providers have to constantly keep themselves updated with the latest and the best technology to keep up to the market standards.

Cloud Computing

Over 2.5 quintillion bytes of data are created every single day servers and data centers must match up to the best processing power and must be provided with high maintenance.

The data centers must have adequate backups in case of a server failure or any loss of data from one datacenter. Thus the cloud technology evolves every single day.

With hackers who figure out various loopholes to break into the system, new security mechanisms are to be adapted every single day. Thus the cloud technology evolves every single day.

So why choose Ximple solution’s cloud technology-based ERP services?

As our customers make use of our ERP services they embark on their journey to the cloud, we’ve got their back always. From on-premise solutions to public and private ERP cloud deployments,

Ximple solution’s Cloud-based ERP solutions provide multiple deployment models with a Cloud-Connected desktop using our products hosted over the cloud. We match up to the pace of the evolution the cloud technology.

what is cloud computing

Our cloud-based ERP services are highly secure with multiple layers of complex security mechanisms and no one but only our authorized staff has access to our data-centers. Thus makes it impossible for any unauthorized person to break into our system..

We help enlighten organizations with advanced industry insight and an improved overall digital transformation experience, we do so not only with superior performance and expertise – but in Evaluation, Purchasing, Onboarding, Security, and dedicated Customer Support

Using Ximple solution’s cloud services means you can move faster on projects and transactions without lengthy procurement and big upfront costs. At Ximple solution, we know ERP and cloud systems. And, we understand the business and market of today’s world.

Cloud Computing at a glance : If you’re still wondering why do you need Cloud-based technologies in your business?

1. In today’s ever-changing business climate, business owners must get what they need right when they need it. The cloud enables businesses with mobile access to data and helps them be more competitive within their market.

2. Cloud-based solutions are ideal for businesses with growing and fluctuating bandwidth demands. If your business demands increase, you could easily increase your cloud capacity without having to take a position in physical infrastructure. This level of agility can give businesses using cloud computing a true advantage over competitors.

3 Cloud computing services could seem intimidating and “only meant” for larger businesses or corporations. However, this isn’t true; cloud computing is extremely important for small scale businesses, too. Cloud computing has brought new opportunities for small scale businesses so that they can grow their business on a worldwide scale.


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INDUSTRY 4.0 CLOUD ERP Your Way To Success

Industry 4.0 is a new stage in the Industrial that concentrates on inter-connectivity, automation, machine learning, and real-time data. It is investing in technology and tools to enhance manufacturing and distribution efficiency and effectiveness. It is about revolutionizing the way business operates and grows by applying real-time data and information interconnected by IoT sensors.

The benefits of integrating Industry 4.0 and ERP systems will be very high, especially in support of intelligent machines and processes, data analytics, and modeling, which can help companies in the real-time decision-making process. Modern ERP systems support Cyber-Physical Systems, which leads to feature end-to-end vertical integration, from inbound logistics, planning, marketing to outbound logistics, and services.

Industry 4.0 ERP systems’ role has changed from a central database system that collects data to support mobile role-based user interactions. Legacy ERP systems need to be redesigned or replaced for Industry 4.0 for the FoF (Factory of Future). It will be required a real-time two-way communication between machines, processes, and products.

Industry 4.0 contains nine technologies, and each of them is related to the ERP systems; somehow, some are analyzed below.

The Internet of Things (IoT) is the first technology of Industry 4.0, which should be supported by ERP systems. IoT is an integration point of Industry 4.0 and ERP. Nowadays, in most cases, data from manufacturing, Warehouses, production planning, distribution, quality control, processes, and other sources are entered manually in ERP systems. The use of IoT would help automatically enter data into ERP systems, which are collected from different production sources. This would have the effect of eliminating data entry errors. Entering data through the use of IoT equipment would also help in changing the approach to ERP systems.

Simulation

Simulation - industry 4.0

A simulation is a tool for predicting and evaluating the performance of systems. It helps companies optimize the decision-making process, which provides the “smart brain” required to improve industrial systems’ efficiency. Companies can simulate real-world situations in a virtual model to help companies optimize products and places in the virtual world before the physical setup.

Simulation can relate to ERP through Big Data Analytics for predicting and evaluating the performance of systems that optimize the resources.

Horizontal and Vertical Integration

INDUSTRY 4.0 Horizontal and Vertical Integration

Horizontal integration implies the connection between all the value chain components, starting from internal company logistics, production, distribution, sales, and services, to external partners, suppliers, customers, energy suppliers to create a value chain as autonomously acting participants.

Vertical integration connects different company levels with IT systems in production, distribution manufacturing, and low-level PLC (Programmable Logic Controller) machine controllers & sensors within the company to increase flexibility and performance in planning management.

By using the Horizontal and Vertical integration approach supported by ERP systems, autonomous production methods can be powered by using Robots that can complete tasks intelligently, with the focus on safety, flexibility, versatility, and collaboration. This integration would be a benefit in generating value for customers, creating a new competitive environment, increasing company productivity, and global economic growth.

Cloud Computing

Cloud Computing

Cloud computing is defined as an Internet-based service or IT infrastructure, starting from applications delivered as a service or hardware and software in the data centers. Cloud computing is divided into three categories.

1. Software as a service (SaaS): a software model where a provider licenses an application delivered over the internet.

2. Platform as a service (PaaS): a software development framework and components delivered on the network. PaaS model is a platform that includes an operating system, programming language execution environment, database, and web server. A PaaS client can develop and run its applications at the software layer.

3. Infrastructure as a service (IaaS): an integrated environment of computing resources, storage, and network fabric delivered over the network. Offered as an on-demand, pay for usage model.

Additive Manufacturing

Additive Manufacturing is a technology that allows companies to produce a prototype, individual components, and 3-D printing. “With Industry 4.0, additive-manufacturing methods will be widely used to produce small batches of customized products that offer construction advantages, such as complex, lightweight designs. High-performance, decentralized additive manufacturing systems will reduce transport distances and stock on hand“.

Augmented Reality (AR)

INDUSTRY 4.0 Augmented Reality

It can combine the physical, real-world environment information by adding virtual data generated by computers. The main advantage of AR is the ability to integrate the virtual environment and real-world interaction. Augmented Reality based systems nowadays are used in different aspects in a real-time situation, starting from warehouses, maintenance instructions, which helps the users of this technology improve decision-making and work procedures.

It can use data stored in the ERP system and choose accurate information for boosting it for scene processing and visualization of the augmented scene.

Internet of Things

INDUSTRY 4.0 Additive Manufacturing

There are many reasons to apply the Internet of Things in the Industrial fields. The companies can reduce the cost of operation and prevent the production line’s failure or stoppage in the future. The companies gain extra profit via service-oriented production system, and the managers’ needs will be satisfied for easier decision making”. The application of Internet of Thing devices can contribute to the data reading and transferring to the central databases; simultaneously; this equipment allows automatization of the data entry, which reduces data entry errors and data processing time.

Big Data and Analytics

Big Data and Analytics

Big data can help companies analyze the past, present, and predict the future using an analytical application to generate value from the available data. There is a link between ERP and Big Data Analytics and the other technologies of Industry 4.0. With Big Data Analytics, ERP systems can enable collecting and evaluating data from different sources in real-time. They can help in decision making, quality control, optimizing costs, and other aspects.

Cyber-physical systems (CPS)

Cyber-physical systems

Cyber-physical systems, also sometimes known as cyber distribution, refers to an Industry 4.0-enabled distribution environment that provides real-time information collection, evaluation, and transparency every part of a distribution operation.

Benefits of Adopting an Industry 4.0 Model and integration with ERP

Benefits of ERP

It offers tools to be more competitive, especially against disruptors like Amazon. As companies like Amazon still optimize logistics and provide chain management, one needs to invest in Industry 4.0 and ERP technology to improve and optimize manufacturing and distribution business operations. It will offer an equivalent or better level of service than corporations like Amazon.

It offers a competitive edge to hire a talented young workforce. Companies that invest in modern, innovative Industry 4.0 technologies and Modern Cloud-based ERP are better positioned to draw in and retain new workers.

Companies that invest in Industry 4.0 and Modern Distribution ERP solutions can increase efficiency, boost collaboration between departments, enable predictive and prescriptive analytics, and permit people, including operators, managers, and executives, to more fully leverage real-time data and intelligence to form better decisions while managing their day-to-day responsibilities.

Industry 4.0 Integrated ERP allows dealing with potential issues before they become big problems. Predictive analytics, real-time data, internet-connected machinery, and automation can all assist to be more proactive when it involves addressing and solving potential maintenance and provide chain management issues. Top-rated Distribution and Wholesale ERP with Industry 4.0 trims costs, boost profits, and fuel growth. Industry 4.0 technology optimizes all aspects of manufacturing, wholesale, and distribution business. It gives real-time access to real-time data and insights for smarter, faster decisions about distribution and manufacturing business, which may ultimately boost the entire operation’s efficiency and profitability.

Can we have the resources and staff to implement and manage Industry 4.0 and Cloud-based ERP technology?

Cloud-based technologies and ERP do not need a large IT team to manage and maintain systems. Even regular updates and maintenance performed by the service provider. Legacy ERP systems have massive implementation and upgrade challenges. This challenge could be easily overcome by leveraging cloud-based Distribution and Wholesale ERP or software as a service (SaaS) or Platform as Service (PaaS). Like cloud storage, the cloud ERP provider assumes the prices otherwise borne by IT to create and maintain infrastructure. A cloud-based ERP system provides all of the advantages of ERP without requiring dedicated IT infrastructure or staff and frees those resources to be utilized in other IT tasks.

Conclusion

A whopping 85% plus percent of ERP users would abandon enterprise software for disconnected spreadsheets, defeating an enterprise application’s purpose when confronted with poor software usability. Ximple product development team take user experience into account and even put it front and center, combined with a mobile-first approach. The new types of interfaces enable interaction with Natural Language Processing as part of the enabling mix. Ximple Cloud ERP for Distribution and wholesale business will be at the forefront of IoT, massive data analytics, cognitive and process automation, let alone autonomous processes, and decisions.

Ximple Solutions’ vision for Distributors and Wholesalers Cloud ERP: Industry 4.0

To facilitate success to the Ximple product roadmap and align with Industry 4.0, we have invested heavily in R & D and built a large team of engineers to revamp and re-architect the Ximple ERP system. We plan to make ERP solution API driven to allow easy integration to various techniques and IoT devices, designed to make the user interface customer and user-centric and infuse artificial intelligence for autonomous business decisions on the business process level.


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What is Quickbooks software?

The most popular software for accounting work is Intuit Quickbooks. Although it suits a business of any size, small business owners find it more useful. It should not surprise you, as Intuit Quickbooks online is affordable and functional. It can handle invoicing, sending of payments, tax preparation, and report generation, among others. Additionally, it is easy to find a Quickbooks accountant or bookkeeper if you don’t want to train or have no time for training. Besides, Intuit provides different options to ensure each business finds the most suitable product. For instance, most versions are cloud-based, and others are downloadable. To summarize, Quickbooks software is a tool for tracking Accounts Receivables and Accounts Payables of your enterprise.

Different Quickbooks versions

The available versions of this accounting software include:

QuickBooks Online

It is a cloud-based solution for small businesses. It has different subscription levels like Essentials, Plus, Simple Start, and Advanced.

QuickBooks Desktop

This one is so broad, seeing that it has six different editions. Therefore, you can purchase Pro, Plus, Premier, Premier Plus, Enterprise, and QuickBooks for Mac.

  • Quickbooks Pro – This version of desktop Quickbooks suits a small enterprise that does not make products at all.
  • Premier – This is ideal for non-profit organizations, manufacturers, contractors, and retailers.
  • Quickbooks Enterprise – This version suits large-scale enterprises.
  • Plus and Premier Plus – These will match any business that is comfortable paying an annual membership fee rather than a substantial one-time fee at the time of purchase.
  • QuickBooks for Mac – It is just like QuickBooks Pro and will work perfectly for any small enterprise that doesn’t manufacture anything.

QuickBooks Self-Employed

If you run a business, Quickbooks self-employed is the best software. It is cloud-based and convenient.

Quickbooks core features

Without a doubt, Quickbooks is an excellent way to automate your accounting and bookkeeping functions. It provides the following core features:

  • Expenditure tracking – This software will automatically find all your bills and expenditures. All you need to do is to connect all credit card accounts and bank accounts to the tool. Then, for cash and check transactions, enter data directly into Quickbooks.
  • Payroll managementQuickbooks payroll can automatically track employee hours and give you accurate data to create paychecks and tax returns.
  • Inventory tracking – Quickbooks software provides an inventory tracking feature to locate the items you have in stock and how much each cost.
  • Business reporting – As you record and manage business cash inflow and outflow in Quickbooks, you can also generate as many reports from it as you want. Also, the software will update each statement in real-time and make it available to you anytime.

Quickbooks tools, training, tutorials, and pricing

  • Quickbooks Tools – This hub contains everything you might require when a Quickbook error or failure occurs. The Quickbooks Tools Hub is highly reliable.
  • Quickbooks Training – If you want to buy and use Quickbooks personally, you should train with an expert. There are Quickbooks classes for someone like you online.
  • Quickbooks Tutorials – If you can learn by reading tutorials, you don’t have to wait. Search for them on the internet and save time and money.
  • Quickbooks pricing – Price varies based on the type of Quickbooks you want. The cheapest and the best for small to medium-sized enterprises is QuickBooks Online. It costs between 25 to 150 dollars. There is a QuickBooks Desktop for SMEs, and it costs between $399.99 and $1,213 for the first year. QuickBooks Self-Employed is suitable for independent professionals who run personal businesses. It is only $15 a month. Lastly, QuickBooks for Mac is for SMEs that use Mac PCs. It costs a one-time fee of $399.99.

Benefits of using Quickbooks

A business of any size will benefit from the use of Quickbooks software. As long as your company knows how to use Quickbooks, it can help a lot. The tool can offer these advantages:

  • Can create and track different invoices. Whether you wish to create and print or send electronically to customers, this tool will let you do it. In addition, it will tell you how much each customer owes and show all pending invoices. These are called accounts receivables, and as well as these, you will get a report showing how many days each invoice is overdue.
  • It can show you all bills you have not paid. Quickbooks checks account payable too. In other words, it can automatically connect to your bank and credit card accounts. In addition, it can allow the tool to download and categorize your bills. You can also enter some bills personally, and Quickbooks will help you track future payments.
  • Generate printable financial statements
  • Each time you carry out a cash inflow or outflow activity in QuickBooks pro, you generate a printable statement. You can then use your financial statements as proof of income when applying for a business loan. These usually are profit and loss statements, statements of cash flows, and balance sheets.

  • You can use the payroll option to track employee hours Once the software tracks hours, these will flow to your customer invoices and payroll. In short, you can pay your employees the correct salaries by check or direct deposit and be able to calculate their federal and state taxes.
  • You can find out when to replenish your stock Quickbooks can show the quantity of each unit of inventory and its cost. In addition, it will automatically allow a percentage of stock to the cost of goods sold as this is a requirement for computing taxable income.
  • Can help you accept online-based payments If customers can pay what they owe you online, they will love to do business with you. Buy QuickBooks Payments option, and it will help your customers pay directly.
  • There are scanned receipts for future retrieval You require receipts when computing your taxes. With the help of the Quickbooks App, you can take snapshots of each receipt and upload them to the software for future use.

Disadvantage of Quickbooks

As well as having advantages, QuickBooks has disadvantages. These are:

  • Depending on the version of Quickbooks you are using, reports can be few, and charts can be hard to customize.
  • Some users think that learning how to use Quickbooks is complicated when compared to similar tools.
  • If you are using the simpler QuickBooks Online version, you might find that addressing inventory management issues is limited.
  • The synching difficulty is slightly common among users, and some say that it can take them a day or longer to sync finally.

Why should you be exploring Quickbooks Alternatives?

Although Quickbooks are relatively affordable, some people cannot buy them. Instead, they look for free alternatives that can satisfy their needs. These do it to avoid the cost of buying once or every year. Some other people choose a Quickbooks alternative software tool because of outgrowing Quickbooks. For these, their businesses have grown and expanded so much that Quickbook alone cannot help. Still, some companies quit because they did not like using Quickbooks or were recommended something else.

Best QuickBooks Alternatives for Your Business Accounting.

There are several Quickbook com alternatives for you. Some of these are:

  • Wave – A free accounting tool
  • ZipBooks – A free accounting platform
  • Xero – If you type this on Google, you will find some articles on Xero vs. Quickbooks. Xero is a paid option.
  • FreshBooks – This cloud-based software for accounting is idiot-proof and easy to access from any place. It is a paid option.
  • ERP software – If you are looking for a tool that will do accounting and every other business management work, choose Enterprise Resource Planning (ERP) software. If you are in the wholesale distribution business exploring a simple scalable Next Generation Cloud ERP solution, then Ximple solution is the ideal choice.

What’s the difference between Quickbooks vs. ERP?

Before you learn how to use Quickbooks, it is essential to understand how it compares to ERP. Therefore, it would be best to decide which between Quickbooks and ERP can help your business succeed. However, there is one big difference between the two tools. While Quickbooks can only tackle the accounting work, ERP can do accounting and more. To be specific, ERP has different modules: accounting/finance, human capital management, sales order management, purchase management, warehouse management, project management, and customer relationship management, among others. In addition, with ERP, you can expect real-time updates from every department of your business.

Quickbooks software
Why are Distributors migrating to Ximple ERP from QuickBooks Software?

Why businesses migrate to ERP from Quickbooks?

If you are already using Quickbooks, you can tell it is time to shift to ERP. Here are the signs:

  • You are tired of manually importing data because your Quickbooks cannot do it. In addition, manual data entry can cause errors, and it is unreliable.
  • Quickbooks maximum file size of 150MB is too small for your growing business.
  • You can longer comply with GAAP (Generally Accepted Accounting Principles) best practices as Quickbooks is not fully GAAP-compliant.
  • You are in the distribution and wholesale business, and your inventory management has become too complex for Quickbooks software to work.
  • As Quickbooks does not offer real-time data monitoring, you are not able to make decisions quickly. This can limit your business’s performance and success.

How you migrate from Quickbooks to ERP?

Although anyone can learn Quickbooks and use it, some businesses may not need them. These would instead use ERP software that suits their business goals and structures. Thus, if you are ready to shift from Quickbooks to ERP, here is how you can do it:

  • Carry out a data cleanup exercise – As earlier implied, Quickbooks has a limited file size. Once you store 14,000 files, there is no space for more. Like other people, your accountants will start creating Excel Spreadsheets. While these are fine, research shows that 88 percent of long spreadsheets with over 150 rows contain errors. Don’t transfer a single Quickbooks error to your new ERP software. Instead, remove outdated data, duplicate records, inconsistent data fields, and other errors.
  • Discover inefficiencies, restructure your workflows, and determine your ERP needs – Quickbooks and ERP are two different tools. Even if ERP has an accounting function, it is a broader module with a unique structure. Thus, you cannot import your Quickbooks data the way it is because of ERP’s extra capabilities. If you need help, then seek an ERP consultant.
  • A change management strategy – ERP implementation process is complex, and workers might fear it. It is even more complicated when you migrate from Quickbooks, CRM, or other business management software. Ensure that workers understand what the process is all about and their roles to help you avoid resistance to change.

Why are Distributors migrating to Ximple ERP from QuickBooks?

First of all, Ximple Solutions is a reputable company that begun in the year 2000. With 21 years of consistent practice, this company has enough experience. This is why distributors are choosing it as an alternative tool for Quickbooks small business accounting tool. Secondly, Ximple Cloud ERP is integrated software that can take care of every business need. Besides, distributors are looking for a tool that will do more and cost less. While there are several ERP solutions online, Ximple is versatile, scalable, modern and fairly priced. It is easy to use and ideal for any growing business that wants a single integrated software suite. Distributors will easily monitor the real-time flow of data concerning their suppliers, customers, and workers. Above all, they will be able to select either an on-the cloud or an on-premise Ximple ERP version.

Conclusion

There is no doubt that Quickbooks is a famous software tool for accountants. It is available in different versions, allowing you to select the type that could help your accountants. Concerning usage, you can read Quickbook tutorials online or hire someone who is already trained and certified. Finally, if your distribution wholesale business outgrows Quickbooks, you can migrate from it to ERP. This article has quick tips on successfully migrating from Quickbooks and finally recommends Ximple ERP to you.


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