by teamsoft | Nov 2, 2016 | Small & Medium Businesses
The Business Intelligence Cycle: Value creation is fundamental to all businesses. We see this as a closed-loop process that drives both strategic initiatives as well as tactical operations. For some this process, or one like it, is well documented while for others it is repeated over and over with little conscious thought. To get the most from your BI investment we recommend implementing the following BI cycle: Discover – Unlock hidden patterns in your data that reveal new insights, opportunities and risks Identify hidden patterns that reveal new or expanded markets and customer segments for marketing Make instant decisions that minimize fraud, risk and losses Identify safe and secure suppliers to protect the brand Plan – You must first decide what to do, balance the risks with the rewards, determine how you will measure success, define measurable objectives or KPIs and establish a plan. Your plans and strategies must be thoroughly communicated to all of your employees. Set and translate strategy Create plans, budgets, and forecasts Balance the risks with rewards Define measurement and monitor risk and results Inform – Once you understand your performance, you need to report out to both internal and external stakeholders. In many cases, there are also requirements to formally disclose financial and regulatory information. Prepare consolidated financial statements for management and regulatory purposes Disclose data to internal and external stakeholders Comply with industry regulations Anticipate – You must always scan the horizon for opportunities to improve existing processes, new business opportunities and risks. Anticipate customer churn or employee attrition Predict how risk may impact company performance Model and optimize profitability of...
by teamsoft | Nov 1, 2016 | Small & Medium Businesses
Your CRM & ERP systems are valuable assets, especially if users follow best practices. Upgrading to a new system, is extremely costly in terms of new software licences, implementation, training and the reduction of productivity as users learn a new system. Wouldn’t it be better if we could still use your existing systems but get more from them? Now you can. By improving your reporting infrastructure & providing business users with quick access to the information they need most – you can start to improve efficiency, reduce churn and allow staff and managers to make better, informed and fact-based decisions. How? Our businesses generate a huge amount of valuable data via multiple platforms and mediums – such as ERP, CRM, Stock Control, Time Management, Excel sheets and Social Media. This data offers huge potential and can provide key insights such as purchasing trends and key performance figures. Typically CRM and ERP provide some basic reporting but the tools are extremely limited. If your only tool is a hammer, you will not be able to build the same things as if you had a hammer, screwdriver and saw. The same applies for obtaining valuable insights from your data. To get the full potential from the data generated by your CRM/ERP , four key CRM/ERP challenges must be targeted: 1. Doesn’t incorporate data from other sources such as essential company software, excel sheets or even social media 2. A lack of advanced analytical capabilities such as drill downs and predictive analytics 3. A weak set of standard visualizations which don’t allow for interactivity 4. Typically no mobile access By upgrading to a...
by teamsoft | Oct 28, 2016 | Small & Medium Businesses
For many small businesses Excel sheets with accounting software or outsourced financing works exceptionally well to support business activities. They help control finances, operations, sales and manage customers. With sustained growth there are many new opportunities such as increased income and larger market share. However, there are also a set of new challenges to overcome. The business operations is becoming larger and more complex, which is increasingly difficult to manage and control effectively. It’s more difficult to manage your business and very time-consuming to administer all the excel sheets which were previously very effective. Alternatively getting different systems to cover these key business areas is costly, requires additional training for each system, difficult to integrate and establish communication between each system and requires multiple support contracts all which also increase complexity. Unfortunately, by not taking action, the problem is not going to go away, but instead will get even more complex and frustrating. What can you do to solve this problem? You can regain control by using a tried and tested system that is specifically designed for businesses in your situation, ERP for small business combines accounting, CRM, risk management, operations and project management into one system to help you regain that needed control, reduce administrative time, support you in managing your business and provide an easy to use user interface that is intuitive and quick to learn. SAP is the market leader for ERP Software. SAP Business One is trusted by 50,000+ small businesses like yours. Cloud and on-premise solutions can be adapted and tailored to your individual business needs. It supports you in managing your business and...
by Teamsoft | Jun 19, 2015 | Small & Medium Businesses
In an ideal world, a product would arrive into stock from the supplier just at the same time as the last unit from the previous batch was being despatched to a customer. Taking into consideration the overheads associated with ordering and delivery, the number of units being received would have the lowest possible net cost. When demand is predictable, it is possible for the Purchasing Manager to plan in this way. Consider the following graph: There is a cost associated with Placing Orders. (Order Cost Line). This cost is high if the company orders small quantities, more frequently. This is because: a) suppliers generally offer incentives (lower pricing / promotions) to encourage larger orders and b) there is an overhead cost for each Order and each Delivery, so more frequent orders and deliveries will increase the cost. As a result, we see that the ‘Order Cost’ decreases as the Order Quantity increases. The counter this, there are costs that can be associated with holding stock in a warehouse. Stock that is sitting on a shelf: Is tying up working capital Is likely to deteriorate Can get damaged May become obsolete Consumes valuable warehouse space that could be used for faster moving products. Based on a products history and product attributes, it is possible to calculate a stock-holding cost for each unit of a product. The storage costs for each potential size can then be plotted. The end result is that it is easy to calculate the most economical order quantity (EOQ) for each product. This is the point in the graph where the total cost of ordering is at...
by Teamsoft | May 27, 2015 | SAP Business One, Small & Medium Businesses
Aberdeen’s research finds that 96% of Best-in-Class (the top 20% of performers) growing businesses have implemented an Enterprise Resource Planning (ERP) solution. These solutions are designed to help organizations of all sizes to face their challenges and provide a single business system to support visibility, efficiency, and decision-making. ERP is the key tool in business to make your life easier. 48% Real-time visibility into the status of all processes (compared to 6% without) 77% Able to standardize back office processes (compared to 22% without) 633% More likely to be able to share data with suppliers, customers, resellers, and regulatory body 4X More likely to be able to forecast and plan for demand 11% Reduction in operational costs A single system provides accurate, easy to find data that enables visibility, collaboration, and efficiency. Get the Full Infographic ...
