The pace of change today is more relentless than ever before, with supply chain shortages, rising gas prices, inflation, and shifting customer needs posing challenges for businesses. To keep up, businesses require smart and automated processes that can adapt to any situation, innovative technology to support new business models, and real-time and predictive insights to navigate in the right direction.

On-premises ERPs offer some control and customization, their drawbacks in terms of cost, complexity, and scalability often outweigh their benefits for many businesses.

In today’s dynamic environment, cloud-based ERPs powers super agility and digital transformation – and offers wide-ranging benefits to modern businesses

Cloud ERP has some benefits that apply to almost everyone:

1. Meet future Business need – Cloud ERP like SAP, ERPNext has strong R&D team that always works on future business needs. By anticipating future challenges, they develop features that address them proactively, keeping clients prepared and adaptable.

2. Minimal infrastructure cost – ERP subscription service eliminate upfront purchase cost for hardware, ERP software, security, data backup. Ongoing IT and related staff costs are also negligible

3. Single source of trust data for data insights – Cloud ERP facilitates companies to integrate all standalone applications, legacy systems, all locations into a single cloud ERP. It provides a single trusted data source. Companies use this data for real-time analysis

4. Mobility in business – Cloud ERP facilitates businesses to provide information access to employees, subcontractors, vendors and customers – anywhere, at any time.

5. Data security – With cloud systems, ERP security, data backup and disaster recovery are handled by full-time, professional security experts with the best data security;

6. Quick implementation – Configuration of a cloud ERP system is much faster than on-premise deployment, because your SaaS supplier handles the hardware and software installation. Cloud ERP business applications are bug free and can be configured easily. The intuitive user interface makes it fast and easy to learn how to use the app.

7. Scalability – As growth can be hard to forecast, scalability is important. With a SaaS ERP solution, you can simply add additional computing power or data storage capacity if you experience rapid growth, rather than incurring a large capital expense.

The post Embrace the Future with Cloud ERP: Redefining Business Agility and Cost Efficiency appeared first on B2Grow.

Financial close is a process long associated with tedious, error-prone tasks, underpinned by intense pressure to close the books as fast as humanly possible.
Efficient and dependable financial close processes help bring confidence and speed to corporate planning and decision-making – and help investors and shareholders to recognize it.

Best practices for a smoother financial reporting and accounting close

1) Identify inefficiencies and error-prone accounting processes ->. Midmarket businesses that excel often assemble a task force comprising representatives from various departments. The finance team provides them with a list of risks and concerns to investigate, and the resulting findings are consolidated and evaluated to identify areas for enhancement. This approach lays the foundation for creating standard operating procedures (SOPs) and implementing advanced accounting tools that are more interconnected and automated.

2) Develop good change management practices to create and roll out SOPs. -> Good  change management strategy to help communicate the importance of standardizing tasks and cementing protocols for who owns what, and when and how they need to complete and submit their financial tasks. And as SOPs are created and rolled out, this is the ideal time to introduce and support the use of smart financial management tools, such as an ERP solution.

3) Implement and support a continuous accounting process -> “Continuous accounting”  means workflows are established to spread financial close tasks out more evenly throughout the reporting period. The use of automated finance tools can help greatly to streamline this process with things like mobile apps and templates – all via the cloud to gather and integrate daily cross-departmental data in real time. This helps to avoid the month-end panic and also empowers teams to spot (and fix) errors early.

4) Automate and digitalize the financial close -> With an AI-powered ERP that provides cloud-based financial solutions, finance teams can devote more time to strategic and skilled activities that help their companies grow and pivot quickly in the rapidly changing market. Cloud systems deliver real-time dashboards that allow executives to customize reports and get deep insights any time during the month – from their device, desk, or wherever.

5) Get together after every financial close -> Many businesses take advantage of this momentary post-close breather to set up regular financial close debriefing meetings where teams can go off-site, and take a moment to analyze and share their ideas for improving and streamlining the process.

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Generally, industries or organization use ERP for centralization and operational consolidation. They do not have any long-term plan about ERP and sometimes they are not aware about it. They cannot utilize ERP to its full potential. Therefore, ERP does not have a proper set of data for business planning and forecasting.

There are another number of reasons why the industry is not able to utilize ERP to its full potential. Some of the most common reasons include:

1)     ERP is a solution not a service – ERP provider and Industry mostly discuss on service and cost. So, both parties not put much focus on industry told and un-told problem.

2)     ERP planning as per legacy other approach – In general Industry ERP planning based on his old legacy approach. Industry didn’t give much focus on vision and business trend.

3)     Unrealistic expectations – Some companies have unrealistic expectations about what ERP systems can do. ERP systems can be powerful tools, but they are not a magic bullet.

4)     Unmatured ERP solutions – Some case ERP suggest solutions is not much mature as per demand. So, ERP are not able to fulfil basic requirement.

5)     Poor Planning – During implementation phase Industry and ERP service provide doesn’t draft robust plan, then deployed system will not able to face all business operation effectively. 

B2Grow Suggest some solutions which help turn industry into data driven 

1)     Industry must have ERP vision – B2grow suggest industry first step must have clear ERP vision. When developing an ERP vision, it is important to consider the following factors:

• The organization’s business strategy: The ERP vision should be aligned with the organization’s overall business strategy.
• The organization’s current state: The ERP vision should take into account the organization’s current state, including its existing systems and processes.
• The organization’s future goals: The ERP vision should reflect the organization’s future goals and objectives.

 2)     Proper business strategies – Proper business strategies are essential for the success of any business. ERP process should reflect business strategies approach for planning and forecasting.  Here are some tips for developing and implementing proper business strategies:

• Start with a clear understanding of your business and its goals. 
• Analyze your target market. 
• Identify your competitive advantage. 
• Develop a plan for growth. 

 3)     Business challenge planning –  B2Grow suggest initially industry must plan all predictive and unpredictive business challenge with suggestive solutions.  Industry can discuss some expert to plan all this case. Industry must consider following strategies for draft business challenge during ERP planning

• List of Predictable Business challenge with solutions
• List of Unpredictable Business challenge with solutions
• Associate risk and it’s prevention

 4)     Data planning – Effective data planning provide strong base for analysis. Industry must have next 5-year vision, it will help to create data planning to achieve industry vision.  Data planning for ERP should consider following activity

• Industry business policy to meet its vision
• ERP data format
• Define common data format which fulfil industry vision requirement and ERP data format requirement

5)     Data science – Data can’t do anything alone. It is useful when it is available on presentable format.  Data science is a technique which display data in useful manner. If industry are considering using data science in ERP system, there are a few things you should keep in mind:

• Start with a clear understanding of your business needs. 
• Identify the right data. 
• Invest in the right tools and resources. 

6)     ERP selection – ERP selection is a crucial factor which play import role in ERP success and ERP data drive approach. ERP selection should consideration following point

• Functionality: Does the ERP system have the functionality that the organization needs?
• Ease of use: Is the ERP system easy to use?
• Scalability: Can the ERP system scale to meet the organization’s future needs?
• Integration: Can the ERP system be integrated with other systems that the organization uses?
• Eco System: Does ERP have strong eco system?
• Development time: Which ERP cover all requirement in minimum customization?

The post ERP – Turn from rough estimates to a data-driven industry appeared first on B2Grow.

Challenge: One of the largest automobile dealers has multiple companies, locations and brands. Due to this, automobile dealers were not able to manage purchases in real time, there were problems in availing the scheme provided by the manufacturer, stock tracking was not possible. Huge manpower was deployed only in purchase accounting          

                                                                                                                               
Solutions:
We provided ERP consulting. We audited the existing ERP and suggested the following ERP solutions.
1) Open-source ERP:-  We suggested Open-source ERP ERPNext systems which provide the ability to modify the source code to meet the specific needs of your business.  
2) One format for all activity:- Using a single format for all activity can make it easier for users to learn and use the ERP system. It can also make it easier to generate reports and analyze data.
3) ERP and old form:- based entry pattern: Maintaining a similar entry pattern to the old form-based system can help with user acceptance.
4) Business logic set as ERP process:- Setting business logic as ERP processes can help to reduce entry time and human error.
5) Voucher authentication as per organization employee hierarchy:-  Authenticating vouchers based on the organization’s employee hierarchy can help to prevent fraud and ensure that only authorized personnel can approve vouchers.

The post ERP centralization 6 companies with 35 brand and 3500 employees across 50 locations to enhance productivity and standardization resulting increased bottom line appeared first on B2Grow.

Some key challenges that professional services organisations must consider include:

1. Consumer awareness

Customer wants tracking of services. If a service industry does not provide tracking services, the customer may not want to do business with them. ERPNext helps in providing the service industry with updated information on various parameters that will help them while dealing with their customers.

2. Financial challenges

Many service industries make financial decisions that cause them to fail before their first anniversary. ERPNext Project Budgeting and Budgeting features help prioritize cash flow for business and projects. Budget feature helps in monitoring company and project profit margin

3. Centralization

Service industries typically use spreadsheets, which are time-consuming, manual, and provide disparate and scattered information on different desktops. ERPNext centralizes all departments. It provides real time data and it also saves reporting and entry time.

ERPNext addresses customer needs and operations, which increases company efficiency. .

4. Customer Acquisition

Retaining existing customers and finding new ones is one of the biggest challenges for service industries.

ERPNext provides complete visibility into customer satisfaction, performance analysis, and project implementation, execution and delivery, all in one place. It helps in identifying the best opportunities and converting them into clients.

5 Maximising billable hours and resource utilization

In service industry every employee’s number of billable hours is directly correlated to the profitability of the business. In services industry, there are high chances that your employees’ days are filled with meetings with customers and conference calls.  

ERPNext provide timesheet feature which help to track all activity of employee and it can share to customer also.

ERPNext provide feature convert billable hour into invoice,

The post ERPNext – Help service industries articulate and demonstrate value appeared first on B2Grow.

• Open Sources  – ERPNext is  open sources ERP, So no License cost. Save huge investment and recurring amount.

• Common Platform For all –  Platform like HR, payroll, customer portal, supplier portal, appointment portal, online inquiry etc  inbuilt. It require huge amount in other ERP but in ERP Next at 0 cost.

• Integration – Inbuilt integration like Amazon marketplace, google, Paytm, woo-commerce, shopify, IVR . In other ERP it require huge amount.

• Training Cost – ERPNext easy to use. So less training require. It save huge training cost.

• Inbuilt BI tool – ERPNext have inbuilt BI tool which require huge amount in other ERP. With the help of this user or management can view graphically analytical report  on a click

The post <strong>ERPNext – Huge ERP  Investment alternative</strong> appeared first on B2Grow.

ERP like SAP, ERPNext is great tool for achieve centralization. Centralization refers to the process in which activities involving planning and decision-making within an organization are concentrated to a specific leader or location.   Centralized data supports automated tasks, data reusability, data sharing, and a more productive workflow without disruption.  

Advantages of Centralization

An effective centralization offers the following advantages:

1)      A well define roadmap

A centralized organization define well structure roadmap because every person within the organization knows who to report to. Each employee has reporting manager department wise who guide and direct based on concern

 The executives also gain the confidence that when they delegate responsibilities to mid-level managers and other employees, there will be no overlap. A well define roadmap is beneficial when the organization needs to execute decisions quickly and in a unified manner.

2)      Focus 

RP or Centralized data allow team to spends less time cleaning up or preparing the data and more time focusing on its essential growth and success. Check out these top ways a ERP contributes to increased focus: 

• ERP streamlines the training requirements.  
• Employees learn one enterprise data model. 
• ERP define of roles and responsibilities across the organization.  

With centralized data, a company will foster the collaborative feel that all team members are working together. Such a mindset supports team-building and morale-boosting while allowing the organization to achieve goals more effectively.  

3) Time & Money Savings 

ERP make data is more efficient and cost-effective with   more streamlined processes. Consider the time and cost-saving benefits: 

• ERP allow business analytics, which supports expedited data visualization options.  
• Teams are better able to strategize, plan, and move forward with strategic initiatives.  

Centralization helps in eliminate, time-crunch challenges. It frees the team to start work from scrap.

4)     Improved quality of work

ERP help to set standardized procedures and better supervision in a centralized organization result in improved quality of work. Each department have set of quality parameter, it’s ensured that the outputs are uniform and of high quality.

ERP help in reduces potential wastage from manual work and also helps guarantee high-quality work. ERP also reduces the replication of tasks that may result in reduce high labour costs.

5)      Consistency 

 With ERP, teams are able to be on the same place for consistency and quality control, delivering a better customer experience and positive business outcomes. ERP help to achieve consistency   in the following ways:  

• Centralized data supports greater transparency across any organization.  
• Teams are better equipped to meet and exceed the customer’s high expectations
• Reporting and analytics are more consistent and easier to understand. 

6)      Optimization 

 ERP analytics and user performance allow team to focus on continual improvement while prioritizing those assets that impact its growth and success.    

7)      Secure 

 ERP help to track and secure data interactions. Here is how a centralized data platform supports security requirements: 

• Organizations can easily monitor and control data access with ERP. 
• ERP set data access protocols and procedures.  
• The organization can better mitigate the risk of mishandling of secure data. 

Centralized data enables an organization to regulate and control data access and interaction at all levels.  

The post <strong>Centralization – Improve organization structure and employee performance </strong> appeared first on B2Grow.

It’s a common story: one day you’re celebrating landing a big client, and the next day you’re struggling to keep up with the new client’s needs. For small businesses, growth often comes with growing pains. In many instances, you have to make the choice between working long hours—and asking your staff to do the same—or finding ways to cut corners. Neither is a great solution, meaning that, ultimately, you will have to find a way to grow your business without hurting your business.

Open Source web based erp ERPNext have following solutions to face such challenge of small and medium industry.

• Rate supplier based of lead time –   ERPNext system provide rating system for his supplier for manage supply chain management. Industry can take lead time as a essential parameter for rating.  This help to industry finalizes supplier for purchase according lead time. This rating system also help industry in negotiation.
• Rate Sub contractor based on delivery – Sometime industry perform some tasks with or without material from sub-contractor. Industry can also rate sub-contractor according his capacity and work quality. This help industry for decision making
• Schedule delivery in partially dispatch –  Customer satisfaction must always be on top priority. Many time customer require huge quantity from industry . But industry don’t have sufficient stock to full fill his requirement. With the help of ERP he can schedule dispatch in multiple part. As per schedule industry get material request and reminder.
• Shortlist employee who agrees to work on overtime and holiday – ERPnext have inbuilt HR module. Here he can mark employee who will available on holiday or can-do overtime. ERPNext have payroll system also, so here we can set additional benefit to employee. ERP manufacturing module feature allow to production in holiday and overtime.
• Start production as per available stock and submit purchase order as per requirement of raw material – Many time industry have order of huge quantity but have insufficient quantity of ram material in stock.  Erp system allow industry to execute one production order in multiple part. Initially he can execute production order as per available raw material and along with he can place purchase order for require raw material quantity.  This help industry to convert lead time into production time.
• Manage cash flow – Without amount industry can’t survive. If industry don’t have sufficient fund, it is tough to fulfil customer requirement. ERP solutions allow payment policy and credit limit option for customer and supplier. Industry can manage it as per his policy. ERPNext also provide payment reminder and follow up feature.
• Manage Penalty clause on delay and it’s impact on accounting – Some customer call penalty on delay in delivery.  ERP allow set delivery date and penalty clause. This force industry to close requirement before delivery date. ERP allow to set some margin in sale price for risk management. ERP also give provision to add penalty amount in sale price. This reduce profit of company which help to reduce tax liabilities.

The post ERP – Balancing Growth and Quality of SMB’s appeared first on B2Grow.

Major Functions & Feature

Pre Sales

• Convert more leads into sales
• Strong inquiry follow up management
• Effective control over discounts
• Automation of sales deal calculations
• Lead analysis for better planning

Post Sales

• Stock tracking right from booking to delivery
• Automation of entire car sales operations resulting in manpower savings
• Margin reports (Fixed & Variable) including finance and insurance income for new and used car sales
• Incentive automation
• Evaluate sales team performance and take corrective actions

Procurement & Capex

• Automate New Car procurement orders based on robust algorithm taking into consideration stock, back order, in transit and bookings
• Optimize operating costs
• Centralizes procurement to minimize suppliers & reduce operating efforts
• Track capex and depreciation calculations

Accounts

• Eliminate accounting entries for sales and purchase
• Robust & customizable accounting reports
• GST & TDS automation
• Tally integration

HR

• Automate and centralize attendance
• Standardise payroll structures
• Simplify payroll processing to release salaries timely
• Monitor KRA performance versus targets & conduct appraisal

B2Grow use Frappe Framework and Open source ERP  “ERPNext” to accomplish this project.

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