Maximizing the value of business management software

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Now that you've implemented your enterprise resource planning software, how do you make sure you get the most out of it? A recent Wall Street Journal report by Claudio Soutto highlights some of the ways you can maximize the value of your ERP system. 

New opportunities
Identify any activities that are currently captured outside of the ERP program. Whether they're on a legacy system or just a series of spreadsheets, if these activities can be included in the ERP program then it's best to bring them on. The more systems you have connected with your ERP software, the better your data integrity will be and the more value you'll get from your investment. 

Training
Keep users up to date on the ERP system capabilities, requirements and standards. You should also schedule regular training sessions. These sessions can help new hires, employees who are having trouble with the system or anyone who would like a refresher. Allow employees who don't normally use the ERP software to attend training so they can have a better understanding of the company's business management software. 

Bringing everyone onboard
There may be employees who still prefer the legacy system because they're comfortable with it. Nominating change agents in each group can help with the rollout process, because they can spread the word within their own teams. These change agents, along with additional training, can help to bring team members onboard the new ERP software. 

Service licenses
Review the licenses you have with your ERP provider and ensure that you are receiving all of the agreed-upon services. You may be able to adjust licenses to avoid overpaying for unused system access. 

ERP software is all about developing more efficient processes and using data more effectively. Take the opportunity to apply these principles to your new ERP system to make sure that you're getting the most out of your software. 

ERP software market to exceed $48 billion by 2022

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Grand View Research, a market research and consulting firm, has predicted that the enterprise resource planning software market will reach $48.22 billion by 2022. This presents significant growth from the $27.65 billion market reported in 2014. 

Growing demand

Among the drivers for this growth is the need for the transparency and efficiency that ERP systems offer. Industries such as retail, aerospace, defense and utilities are quickly implementing business management software systems to centralize data and optimize production. Growing investments in research should also help ERP developers continue to improve costs and deployment process, which should increase ERP adoption. 

Technological advancements

New technologies have also helped to drive market growth. Advances in cloud computing and mobile technology have made ERP systems more flexible, easier to adopt and more cost-effective. By storing their data in the cloud, companies have been able to scale more rapidly without maintaining expensive hardware on-premise. Using ERP on mobile devices has granted employees more freedom and more control, allowing them to access real-time data and make smart decisions. 

More companies are using ERP software. More companies are using ERP software.

SMB Growth

The study found that medium-sized businesses in particular will be fueling growth for ERP software. As these companies grow larger, they will need to adopt scalable programs. ERP software is modular and adaptable to enterprises of different types and sizes, making the technology a great fit for many types of organizations. 

Diversity

ERP software continues to grow because it serves so many functions. From inventory management software to manufacturing software, ERP serves every part of the organization. Centralizing data for every department helps to break down silos and improve cross-functional communications. 

At Accent Software, we can help your enterprise implement an ERP system that improves efficiency and transparency. We're proud Microsoft partners, and we help SMBs use Microsoft Dynamics NAV for their business intelligence. Contact us to learn more about how we can help.

4 ways executives can support ERP implementation

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Enterprise resource planning software acts as a central hub of information that's useful for every department. In addition to uniting all data, an ERP implementation must unite the full enterprise. Without support from individuals in leadership roles, it's extremely difficult to set up an effective business management software system that will allow the enterprise to optimize workflow and operate at peak efficiency. According to Toolbox, leadership can't just agree to an ERP implementation and then step aside. Company leaders must be active participants to make sure the software implementation meets company goals. 

Letting go of legacy systems

Sometimes a team or department can remain attached to a legacy system or a certain set of practices. Even if they're more comfortable with the old system, they need to understand that the new ERP software is best for the business as a whole, and the sooner it's implemented and adopted, the sooner everyone can enjoy its many benefits. If a team leader is not onboard with the new system, that can lead to issues with data standards. 

"Leadership can't just agree to ERP implementation and then step aside."

Adopting standards and best practices

With centralized data, it's essential for each team to use the same set of data standards when inputting and applying information. Otherwise, the enterprise will end up with redundant or incorrect data, which likely prompted them to implement ERP software in the first place. 

Training and oversight

ERP systems are scalable to growing businesses, so it's important to invest in continuous training to stay up to date on all of the system capabilities. A deployment vendor such as Accent Software can help create a training plan and a change management strategy, so new users become experts.

Setting goals

Doug Howardell of the ACA Group noted that executives need to provide a vision for the ERP implementation in order to determine its success. Setting quantifiable goals and defining success will go a long way towards making sure the software is properly deployed and the enterprise is seeing the many benefits. 

At Accent Software, we help SMBs implement ERP systems so they can centralize data, optimize workflow and operative at maximum efficiency. Contact us to learn more about the many ways we can help.

What to do with legacy data?

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If you're implementing your new business management software, you may find yourself with great deal of data from your legacy software. Now is the time to review this data and ensure that your new system will capture  everything you need, and nothing extraneous. Michael Vizard has reported for Channel Insider that Big Data has started to strain warehouse platforms.

Archiving 

It's probably best to keep some of your legacy information. According to Modern Systems, your industry may have strict regulations that require data archiving back to a certain date. This information can also be helpful in the event of a recall or lawsuit, when you may need to access historical data quickly. 

Your legacy data may still be useful. Your legacy data may still be useful.

Integrating systems

In some cases, you may still be using your legacy system for other functions. If this is the case then you may be integrating it with your new ERP software. In order to integrate systems, your team will need to review and clean any incorrect or redundant data. Next, you will need to develop uniform definitions that apply to both systems, so there is no confusion. As Ken Jacbosen notes in the ERP Software Blog, information from your legacy system could ease the transition period. 

Moving forward

Review the data fields from your legacy system. Are all of those fields still useful? Now is your best chance to clean your new system of any unnecessary data fields. Maybe your business model has changed, so some data you used to capture is no longer important. Identify any information that you no longer need to capture, so your new ERP system can start fresh and run efficiently. 

Accent Software helps small to medium enterprises make the transition to advanced business management software solutions. We help your team every step of the way and provide ongoing service and consultation. Contact us to get started. 

Cloud vs. On-Premise ERP

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When implementing enterprise resource planning software, you will need to decide if you would like to store your data in the cloud or on-premise. Each has its own pros and cons, which makes it important to choose the option that best meets your organization's needs. Microsoft Dynamics NAV offers business management software solutions that meet your requirements, whether you prefer on-premise ERP or cloud ERP.

Security

If you keep your data in-house, you will not have to worry as much about data or security leaks. However, you will need to hire more IT staff in order to monitor this data, whereas in a cloud ERP the hosting service would be responsible for security. On-premise ERP puts the power to manage your data security in your hands, but there are also costs that come with it. If you're working with sensitive data, on-premise ERP is the safer option. However for most types of data, cloud ERP would be perfectly acceptable. 

Cloud and on-site ERP both have pros and cons. Cloud and on-site ERP both have pros and cons.

Growth

Cloud ERP systems are easily scalable, so if your company is growing rapidly the system can adapt quickly. On-site ERP can require additional investments as you take on more clients. Since you house the data on-premise, setting up this new hardware can slow down your growth. 

Maintenance

According to The Resource Group, if you're managing an on-premise ERP, your team will be responsible for regular updates and maintenance, at your expense. Your cloud hosting client, on the other hand, is responsible for overseeing it on its end. Cloud ERP implementation generally comes with service guarantees so the hosting company should be overseeing it. Keeping your data in-house can incur hardware costs, but you have ultimate control over your data and hardware. According to Arquiconsult, if you rely on legacy systems for other functions and you would like to keep it going, an on-site ERP system will connect with it more easily.

Ultimately, it is up to you to decide which option is best for your enterprise. If you'd like to learn more about these options, feel free to contact us. Accent Software can walk you through further implications of cloud and on-premise ERP, to determine the solution that works best for you. 

4 ERP trends to watch in 2016

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As 2015 comes to a close, now is a good time to look to the future and consider what it may bring for enterprise resource planning. Since forecasting is an important function of ERP solutions, it only makes sense to make predictions for 2016. 

More SMBs will adopt ERP systems

Eric Kimberling of Panorama Consulting Solutions predicts that 2016 will bring more small to medium businesses using ERP software. As software has become more modular and thus more adaptable to smaller companies' needs, large enterprises are no longer hoarding all of the technological advantages. Services are becoming more cost-effective to suit growing needs, so tools such as ERP and CRM are more accessible for companies that want to work smarter and more efficiently. 

The emergence of manufacturing as a service

Tom Miller of ERP Focus and Kevin Roberts of FinancialForce predict that we will see manufacturers offering subscription services for their products or components. Sales orders driving ERP systems may require monthly releases. Since orders will remain open throughout multiple fiscal years, manufacturers will need to develop new rules for revenue recognition. 

More ERP systems will migrate to the cloud in 2016. More ERP systems will migrate to the cloud in 2016.

Cloud ERP will be widely accepted

Cloud ERP has been a popular topic for some time, but Kimberling believes that in 2016 we will see the buzz die down. As most ERP vendors are providing cloud-based functionality, cloud storage will be a normal feature for ERP software. Soon the talk will be more about which providers don't allow cloud migration, since most of them will by next year. 

Multi-language systems will grow

Miller cites immigration to North America and Europe as a factor that will change many manufacturing ERP systems. As user demographics change, more ERP systems will need to adapt to suit non-English speaking users, creating a new opportunity for some providers to set themselves apart. Many of these new users will come from less technologically-advanced manufacturing backgrounds, which will require additional training to get them up to speed on newer tools. 

The value of cloud-based business accounting systems

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Enterprise resource planning software is a mature technology that has adapted met the needs of new business climates over the years. Some may have the misconception that ERP accounting modules have remained relatively stationary when compared to other functions. However, cloud computing has actually sparked a great deal of innovation for the popular business accounting program as Linda Rosencrance reports for TechTarget.

Jeffrey Kaplan of E-Commerce Times notes that, "Winning the acceptance and adoption of the inherently conservative folks in finance has been a milestone for the cloud industry." Cloud ERP has allowed finance and accounting teams to adopt more sophisticated and up to date reporting methods and analytics to make more informed decisions. Maintaining financial data in a cloud-based ERP system lets accounting teams stay up to date with new requirements and ad hoc reports.

Cloud-based ERP allows accounting teams to be more innovative. Cloud-based ERP allows accounting teams to be more innovative.

A legacy system would hinder such agility by requiring upgrades and maintenance in order to manage these new functions. There are many positives to managing your financial data with a cloud-based ERP, according to TechAdvisory.org. Financial data is easily accessible with any Internet connection, so your team is not tied down to office computers when they need to review and report on financial figures. That accessibility also comes with robust cloud security, which will keep data from outside sources. 

Legacy systems often need additional servers just to keep them going, at the expense of other functions on-site. A cloud-based ERP is hosted by an off-site provider, freeing up valuable server space for the company. Legacy systems also require expensive hardware and certified employees to maintain it, while cloud-based ERP systems can save the IT budget from such burdens.

Accent Software can help you implement a modern, cloud-based business accounting program that will enhance information access, improve security and foster flexibility for your financial reporting while offering training and continued support. Contact us to learn more. 

Automate tasks with ERP software

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At a small to medium-sized enterprise, every employee has to fill multiple roles. Fulfilling timely, accurate orders can mean the difference between success or failure. An inventory management system and an accounting management system, both provided by electronic resource planning software, allow an SMB to automate many time-consuming tasks so employees can focus on providing service to clients. 

Processing orders
The business accounting system generates and processes purchase orders and automatically, so your materials come from vendors promptly and you can fulfill customer orders quickly and accurately. Tom Miller of ERP Focus notes that ERP software allows you to collect a customer's order through an online portal and generate it in the system automatically, cutting down on processing time. 

Invoicing
As an enterprise grows, creating and sending invoices can become extremely time-consuming. ERP manufacturing accounting software can automate the invoicing process, reducing the time it takes to generate and process invoices.This frees up time and resources to focus on more pressing concerns. Improving the invoicing process means issuing payments faster to keep vendors happy and increases cash flow. 

ERP software automates many everyday tasks. ERP software automates many everyday tasks.

Production
Implementing an ERP system applies up to date industry best practices and optimizes your workflow by automating many tasks. This helps eliminate many inefficiencies that lead to idle machines and other types of waste. 

Human Resources
ERP business management software helps HR departments automate everything from generating reports and calculating deductions to updating employee records. ERP systems centralize all of the important data, so HR teams don't have to waste time filling out paperwork with redundant information.

At Accent Software, we can help your ERP implementation go as smoothly as possible, so you can be well on your way to running a more efficient operation. We're proud Microsoft partners, and we help SMBs use Microsoft Dynamics NAV for their business intelligence and automation. Contact us to learn more about the many ways our team of experts can help.

Migrating data from your legacy system

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Whether your legacy system is an old database or a series of spreadsheets, migrating to your new enterprise resource planning (ERP) system can be a challenge. Moving your data from your old system to your new business management software system involves translating information from one platform to another, and it's important to follow these steps to ensure it goes smoothly. 

Reviewing data
Is all of the data captured by your legacy system useful? Now is your opportunity to cleanse your system of any unnecessary data, according to Enterprise Resource Consulting. Perhaps your business model has changed, so some of your old data is no longer needed. Or perhaps you can identify data that was created incorrectly. In some cases, you may have had to add fake data in order to get around inefficiencies in your legacy system. Now is the time to identify any dirty data, so your new ERP system can start fresh. 

Training users
Now that new data will be centralized, it's important that all of your users are trained on the same best practices. Your new system is only as good as the data it contains, so make sure everyone is on the same page about how to input business intelligence going forward. It helps to create a guide with screenshots or a video tutorial, so users can refer back to them. 

Make sure your users understand any new practices for your ERP system. Make sure your users understand any new practices for your ERP system.

Learning new fields
Does your new ERP system have new data fields? Make sure you and your users study these fields and understand how they're populated. You will also need to make sure there are no missing fields, and all of your important legacy data has a proper place in the new system. 

Backing up and securing data
In the event of a synchronization failure or any other bumps in the road, make sure your legacy system data is backed up. As ERP Focus points out, it's also important to review security measures for your new system, particularly customer data. Make sure that your users are following all of the new security protocols when handling customer data. 

Testing the migration
Before the actual migration goes live, run tests to make sure the files are converting correctly. Your data may be coming from a variety of sources and you'll want to see how long the migration will take. That way, you can schedule the migration during down time. 

4 common challenges of an ERP implementation

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Enterprise resource planning (ERP) software brings many benefits, including a smoother workflow, increased productivity and improved communication. The process of implementing an ERP system can be a challenging one, although it's absolutely worth the challenges. However, it's still important to consider these when you're preparing to move to a business management system, so you can have the smoothest transition possible. 

Communication
As Paul Bywater points out in BDaily, remember to communicate to your team how this transition will impact each member. They will need to understand how this system benefits them, but also how the transition is going to impact their day-to-day jobs. 

Software
What kind of business do you run? Different business management software solutions can serve different types of enterprises. You will also want to consider what modules you would like to incorporate in your setup, and whether or not you will be adopting a cloud-based system. 

Remember to review these factors when adopting an ERP system. Remember to review these factors when adopting an ERP system.

Rollout strategy
The two most common rollout strategies are "big bang and "phased." Both have their advantages and disadvantages. A big bang rollout happens all at once, so while there can be an initial disruption as you convert to a new system, you will see a return on your investment much sooner. A phased rollout happens gradually, so you can ease your way into the new system. However, a phased rollout will be more expensive because your team will have to keep your legacy system running while they learn the new ERP software. 

Training personnel
Remember that training is not a one-time investment. As ERP systems are scalable to your business, it's a good idea to invest in continuous training so your users are always up to date on all of the system capabilities. A deployment vendor such as Accent Software can help you create a training plan and a change management strategy, so your users become experts. 

At Accent Software, we can help your ERP implementation go as smoothly as possible, so you can be well on your way to saving money and being more productive. We're proud Microsoft partners, and we help SMBs use Microsoft Dynamics NAV for their business intelligence. Contact us to learn more about the many ways we can help.