Articles

e-Invoicing | e-Invoicing under GST | ERP & e-Invoicing

e-Invoicing | e-Invoicing under GST | ERP & e-Invoicing
e-Invoicing | e-Invoice under GST | ERP & e-Invoicing e-Invoicing is a major reform towards Digital India. e-Invoicing is the digitalization of the Invoices for goods and services provided by companies. The Economic Times has reported that "The Central Board of Indirect Taxes and Customs (CBIC) Wednesday notified that e-invoicing will be mandatory for the business to business (B2B) transactions for taxpayers having turnover of over Rs. 100 crore from January 1, 2021". In this article, we are going to discuss in-depth about e-Invoicing initiative in India, objectives, benefits, procedures,...
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What is Inventory Valuation | Inventory Valuation Methods

What is Inventory Valuation | Inventory Valuation Methods
What is Inventory Valuation | Inventory Valuation Methods Inventory is the most significant asset of every manufacturing company as it directly impacts the Productivity & Profitability of the organization. Every manufacturing company maintains some amount of inventory. Therefore, companies must be vigilant about how much inventory they have on hand; as well as the financial value of the Inventory on hand. Because "Inventory is money sitting around in another form". Let us now discuss What is Inventory Valuation? What are the Inventory Valuation Methods? and Importance of Inventory Valuat...
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Getting Ready for ERP Implementation

Getting Ready for ERP Implementation
Getting Ready for ERP Implementation By nature, ERP implementation is a very complex process, because, it involves establishing a single system that integrates all the important processes such as planning, purchasing inventory, sales, marketing, finance, human resources, and more. ERP Software Implementation is a long term activity and investment that impacts all areas of the business. It involves a considerable amount of time, effort, and cost. Therefore it is extremely essential to have the right preparation for ERP implementation. The objective of this article, to educate manufacturing com...
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ERP Contract: What Points should be covered?

ERP Contract: What Points should be covered?
ERP Contract: What Points should be covered? Companies usually decide to implement ERP Software to achieve a transformation in their business, to create a digital backbone, to streamline processes, improve efficiencies, and to scale & grow business. ERP Implementation is the first step of a long journey being undertaken by your Company and the ERP Vendor. Therefore it is very important to start this relationship on the right note, where both parties have a clear understanding of the objectives and expectations right from the beginning. An ERP Contract is a formal agreement that covers and...
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Importance of ERP Project Team in ERP Implementation Success

Importance of ERP Project Team in ERP Implementation Success
Importance of ERP Project Team "If Everyone is Moving Forward Together, Then Success Takes Care of Itself" - Henry Ford ERP Implementation is a big task and impacts every business function of the organization. It involves a lot of time, energy, and efforts, from everyone in the organization. Considering implementing ERP in your organization? Start forming your ERP Project Team now. Wondering who should be part of the ERP Project Team? What should be the ERP Project Team Structure? What are the roles and responsibilities of the ERP project team members? Let us now learn more about all thes...
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ERP 2 | What is ERP 2.0 | Important Features & Benefits

ERP 2 | What is ERP 2.0 | Important Features & Benefits
ERP 2 | What is ERP 2.0 | Important Features & Benefits A good ERP is more than a good software. It connects people, processes, and resources.    ERP Software or ERP 2.0 as we know and see it now, is extremely evolved and has improved by leaps and bounds. It has far more advanced functionalities and capabilities as compared to its earlier versions. Let us now look at how ERP software transformed over the years, what are the important features and benefits of  ERP 2.0, and more. How ERP evolved to ERP 2.0? MRP 1.0: Material Requirement Planning The roots of the development of ERP can...
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Common Manufacturing Problems that ERP Solves

Common Manufacturing Problems that ERP Solves
Common Manufacturing Problems that ERP Solves Are you having trouble getting proper information about your business? Are you struggling to maintain optimum inventory? Are you finding it difficult to lower operation costs? Manufacturing companies face these and numerous problems in day to day operations. Some problems may vary slightly from industry to industry, but there are some common challenges faced by manufacturing companies across verticals & industries. In this blog, we are going to discuss how manufacturing companies can leverage ERP Software to improve internal proce...
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Making Life of CEO/CXO easier, the ERP Way!

Making Life of CEO/CXO easier, the ERP Way!
ERP makes life easier for CEO/CXO As the CEO of a manufacturing company with 3 manufacturing locations in different states of a country, how wonderful it would be, to have complete visibility of all functions of your business to make informed decisions? What if you can identify the causes of bottlenecks/delays in your business? What if you could get a real-time dashboard that provides one glance summary, of the entire business? As a CEO/CXO, you may need answers to various questions from each function. You may take the help of technology & ERP to gather all relevant information to make...
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Importance of aligning IT Strategy with Business Strategy

Importance of aligning IT Strategy with Business Strategy
Importance of aligning IT Strategy with Business Strategy Information Technology & Business are becoming inextricably interwoven. I don't think anyone can talk meaningfully about one without talking about the other - Bill Gates Technology & Business are almost inseparable. We cannot even imagine a business without computers, internet & software today. Information Technology plays a very vital role in the efficient functioning of a Business. In this article, we will focus on understanding the importance of aligning IT strategy with business strategy. What Is Business IT Alignme...
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Plug the Leaks, Improve Profitability, Grow Your Business

Plug the Leaks, Improve Profitability, Grow Your Business
Plug the Leaks, Improve Profitability, Grow Your Business Beware of Little Expenses; A Small Leak Will Sink a Great Ship. Are you struggling to grow & scale your business? Are your profit margins lesser than your expectations? Are your facing difficulty maintaining a healthy cash flow? Then, it is certainly time to introspect. It is time to go looking for areas where your business could be losing money knowingly or unknowingly. "Plug the Leaks, Improve profitability, Grow Your Business" article is written with a specific objective to help manufacturing companies to uncover hidden probl...
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