The ability to collect payments faster is more significant than ever. The economic landscape is increasingly volatile, with fluctuations in market conditions and currency values. This unpredictability makes it crucial for businesses to maintain a steady cash flow to ensure stability and resilience. Secondly, the rapid pace of technological advancements has raised customer expectations. Consumers…
Project accounting is an overly broad term. Its most general definition is processing financial transactions by project including costs, billings, and revenue. In reality, project accounting can be much more than that. What constitutes project accounting in a company is based on several factors including company type, the number of projects and company size. Companies…
In our How to Build and Maintain an Effective Budget post, we discussed how to build a budget using your ERP’s budgeting functionality combined with Excel worksheet templates and ERP file import. Most companies today prepare some sort of financial budget. Budgets can be built at a very high level (Sales, cost of sales and…
Background A multigenerational family-run business headquartered in California, the team at Westerlay Orchids has a simple mission: to grow the most stunning and highest quality orchids. Westerlay’s path to producing some of the finest orchids available stretches back generations of horticulturists to the greenhouses of Holland. Company founder Joop “Joe” Overgaag was a greenhouse farmer…
Curious about Dynamics 365 Business Central and Oracle NetSuite – which one is right for your company? Dynamics 365 Business Central, crafted by Microsoft, emerges as a comprehensive ERP solution tailored to the needs of growing businesses. Over the past six years, it has undergone substantial development to encompass a wide spectrum of functionalities, from…
To get to this point in your ERP implementation, you’ve gone through a lengthy sales process, selected your solution provider and set your project’s overall goals and objectives. You’ve also commenced a formal kick-off meeting. In the meeting, the project plan was developed including organizing tasks, assigning resources, and setting the project ground rules. If…
An ERP is more than just a tool for managing resources and orchestrating processes. It’s the backbone of your company’s entire digital strategy. The problem is, if you don’t know what you’re doing, finding the right ERP vendor amid today’s crowded enterprise tech landscape is about as easy as finding a needle in a haystack.…
The medical device industry faces unique challenges when it comes to supply chain management. Suppliers and manufacturers must navigate strict regulatory requirements, ensure product quality and safety, and maintain a reliable flow of critical medical devices. To get ahead of these challenges – and those just now appearing on the horizon – medical device companies…
Today’s marketers and sellers have a problem they never expected to face even just five years ago: they have too much data and can make too many choices about their customer journeys. Do we have too much of a good thing now? Have our cloud-based, data-heavy tools made customer engagement hopelessly complex? Not necessarily. Microsoft…
Everybody’s talking about generative AI, specifically the smart chat applications powered by this technology, including OpenAI ChatGPT, Microsoft Copilot, Microsoft 365 Chat, and Bing Enterprise Chat. Understandably, there can be some confusion about which app does what and why or when you’d choose one over another. To help clear the air, we asked our resident…