Control. It’s a pesky term, with many definitions.
To some, it connotes management discipline and a process that leads to improvements. To some, the word is defined as a restraint or limitation. While many view the term as indication of power or influence. Which one is right in the context of business?
We submit that all are equally applicable to the small and medium business. As a business owner, you need to ensure that you are able to control your business – especially in uncertain times. Being able to grow revenues, increase profits, bring new products/services to market, and beat the competition requires that you understand your business, products, customers, suppliers, and markets. Yet, all are quickly changing all the time.
To help you gain or retain control of your business, we’ve identified eight areas that you must pay attention to and get ahead of:
Here are seven signs you may want to consider a more robust system to manage your business on:
1. Experiencing Data and Record Size Limitations
QuickBooks does have data and record size limitations that may become a problem for fast growing companies. As a company begins to reach the limitations there is also potential for the data to become corrupted. This may make it more difficult and costly to move the data to another system.
2. Reporting is Not Meeting Your Company’s Needs
As companies grow, so does the need for sophistication and better reporting. The ability to build new reports is limited in QuickBooks. Many companies find that reporting tool options for QuickBooks are not meeting their needs when compared to robust accounting systems such as Microsoft Dynamics GP.
3. Incomplete Audit Trails
Accountants and business owners like their financial information to be comprehensive and well-documented. QuickBooks does provide some levels of audit trails, depending on the version, but there are some circumstances where financial information can be changed without the proper historical audit trails. The lack of true accounting compliance could leave a company vulnerable to inaccurate records and possible loss of revenue.
Let’s get started with the basics. One size doesn’t fit all and fortunately the cloud offers a variety of options that can support your organizational drivers. Cloud models work together, so you can use the right models for different applications in your organization
1. What is cloud computing? At the basic level, “the cloud” or “cloud computing” refers to the method of delivering software, from e-mail to accounting to customer relationship management, to users via the Internet. Public cloud refers to infrastructure comprised of multi-tenant servers. With private cloud services, servers are dedicated to one organization. The term hybrid cloud refers to the combination of public cloud, private cloud or on premises infrastructure services.
2. What is IaaS, Infrastructure as a service? Users run all their own applications, including operating systems, storage and backup on a cloud provider’s infrastructure. The cloud vendor does not supply any operating system license or support, only hardware and connectivity.
3. What is PaaS, Platform as a Service? Users access purchased or internally developed applications that are housed on the cloud provider’s infrastructure with provider managing the operating system, storage, hardware, and networking. The cloud vendor provides the additional layer of operating system and supporting services, to allow the users to focus on supporting their custom or purchased business operating applications.
4. What is hosting? The term hosting “hosting” or “hosted” is commonly associated with ERP and LOB software. In addition to the hardware and operating systems, the cloud provider houses and manages the installation, upgrades and user configurations for the ERP application. The ERP application licenses may either be subscribed to or owned.
5. What is SaaS, Software as a Service? Users subscribe or rent access to the software application functionality over the internet. The software publisher delivers the application to many customers, storing customer application related data on public cloud servers. Also commonly referred to as “on demand.”
Microsoft Dynamics GP 2016
Web Client enhancements
Ability to scan multiple pages
Word templates for batch approval workflow
Workflow condition mangement
Workflow reassignment notifications
Configurable OData Service points added
OData Service deployment enhancements
Business Intelligence enhancements
Import and export SmartLists from SmartList Designer
Export numbers to Excel, formatted as numbers
Power BI reports can be added to home pages
Create SmartList from the Favorite using SmartList Designer
Creating new outcome and opportunity.
Insanity is defined as, “doing the same thing over and over again but expecting different results. “If this holds true, then there are some logical steps that SMBs can take to avoid insanity. Because of their daunting nature, SMBs often ignore business challenges and continue to conduct business in the same manner as they always have. Partaking in this behavior is strangely similar to the definition of insanity. So, consider the following steps… and keep from joining the ranks of the SMB insane:
Welcome to the final part of the Office 365 platform, integrated with Microsoft ERP and CRM blog series.
Meetings are an important part of business, providing valuable opportunities for people to brainstorm, collaborate, strategize, and share information. According to information compiled by Atlassian, most employees attend 62 meetings a month, including the 31 hours they spend in unproductive meetings. Those unnecessary meetings carry a high price, costing US businesses $37 billion annually.
New communication and collaboration tools like Skype for Business make it easy to conduct modern meetings that are more efficient and productive by providing familiar, easy-to-use features plus enterprise-grade security, compliance, and control.
Welcome back to part three and four of our blog series covering the Office 365 platform, integrated with Microsoft ERP and CRM.
Synchronize Your Business
It’s rare to find a busniess todaythat sticks to strict 9:00-to-5:00 operations. The most successful businesses have become much more fluid, using cloud and mobile technology to broaden their reach and compete within the market. These businesses often need to communicate and share information with customers, partners, and suppliers in different time zones or different countries.
Cloud storage synchronizes information across different devices, so you and your colleagues are always viewing the lastest version of a file no matter where you’re working or what device you’re using. When you use cloud-based productivity and collaboration tools, you can stay on the same page with distant partners and offsite employees, who can seee the most up-to-date content. The cloud also provides high-level security and privacy while ensuring the access control you need.
Join us for our blog series covering the Office 365 platform, integrated with Microsoft ERP and CRM, to enable organizations to better manage their business. It’s easy to see all the information you care about in one place and use it to make faster, better‑informed decisions, all built on the power of Microsoft ERP, CRM, and Office 365. With a single sign on, integrated cloud ERP and CRM solution set, you can gain real-time financial, sales, and operational visibility throughout your business.
Efficient collaboration and communication are vital components in the success of every business. Luckily, Office 365 makes it easier than ever to work smarter, not harder, so you can do your best work. With Office 365 apps like Word, Excel, PowerPoint, and Outlook, as well as other productivity apps, you can redefine how you communicate and collaborate. Features such as coauthoring in real time, instant messaging (IM), video, and voice make it easier to create, share, and work together wherever you are, across your favorite devices.
Cash flow. Two little words that are the source of huge amounts of stress and frustration for many SMBs. Invoicing quickly and accurately is key if businesses want to have enough money to pay their employees and their own bills. But invoicing quickly isn’t as easy as it sounds.
To improve your invoicing, SMBs need to focus on three key areas – keeping all their financial data in one place, avoiding manual re-entry of data and efficiently collecting information from the business so invoices can be sent out quickly.
And just like accounts receivables, accounts payable also benefits from using an integrated system that eliminates manual re-entry and offers better controls. With improved visibility into your accounts payable and accounts receivable, SMBs can make sure they’re optimizing their payments to take advantage of discounts for early payments and maintaining a stable cash flow.
3 Ways To Shorten Your Invoice Cycle
For many small- and medium-sized businesses (SMBs), longer invoicing cycles cause confusion, accuracy issues and serious cash flow problems.
Without powerful financial accounting software to rein in these complications, SMBs wrestle with maintaining the integrity of their bookkeeping. This struggle makes it difficult- if not impossible- to forecast or make sound business decisions without questioning the validity of the data.
Here are three key invoicing issues that SMBs frequently deal with, along with an explanation about how financial accounting software helps to eliminate these problems, effectively speeding up the cycle time and saving the company money.