When it comes to management accounting, the needs of associations are quite different from those of companies and public bodies.
With a significant proportion of their income coming from membership fees, associations may not be able to afford a complete management accounting solution.
In addition to representing a significant outlay, to be usable by an association, accounting software(association) must include applications for the following: Read more
The market for mobile applications for inventory management is booming. Unfortunately, as the supply for these applications increases, not many are being developed with small and medium sized businesses in mind. There are few mobile applications that are responsive to their needs and budget and amongst these options, it is important to learn how to […]
No distribution company today can afford to ignore the potential in online purchasing.
The online store is so popular with consumers that 80% of Web users pre-visualize products before purchasing them.1 Therefore, to meet these expectations, it is all the more imperative for these companies to develop an online store solution that will represent such a growing market2.
However, only 10% of Quebec SMEs, that have 20 or fewer employees, have an online store solution.The situation at the national level is not any better. A recent poll shows that only 22% of Canadian SMEs employ an online store.
This is due to the common belief that most SMEs cannot afford an online store solution or that they cannot find one that will suit their business needs.
This post was updated to reflect current trends and information
With the growing number of attributes that the SMB needs to subsist in the competitive business marketplace (especially if you ply your trade in the manufacturing and distribution sectors), software that specializes in business process integration is worth more than its weight in gold. eCommerce business software like erpwizard, for example, brings together the discrete parts of your business into a seamless, continuous workflow using its automation server and other add-on modules.
The management of clients is an increasing share of business and represents many challenges for the small and medium sized enterprises.
This post was updated to reflect current trends and information
Bringing together all the facets of your business into one seamless whole is of great benefit to virtually any company; among other endowments, it eliminates the waste that often transpires from one phase or function to the next – especially in manufacturing verticals. In particular, integrated software solutions and fashion is a tandem that performs especially well together; because of the erpwizard modules that implement and oversee so many aspects endemic to apparel, footwear and general fashion:
This post was updated to reflect current trends and information.
To maintain a strong position in a highly competitive market, SMEs need tools to ensure the optimum improvement of their business processes. As such, small and medium-sized manufacturing and distribution enterprises are no exception.
Managers nowadays are too busy with the requirements of their daily managerial duties that they don’t take the time to question the effectiveness of their business processes. This, in turn, prevents these managers to come up with better alternatives that can enhance productivity and performance, and miss out on an opportunity to achieve a real improvement in business processes.
This post was updated to reflect current trends and information. Computer software maintenance costs monopolize an increasing portion of companies’ budgets. However, the management of a computer system on the premises involves a variety of operations, including software maintenance. Below are nine problems that we’ve identified, related to software maintenance.
This post was updated to reflect current trends and information.
Small and Medium Enterprises produce a mass of business data: reports on sales, profitability, financial performance, etc. Most of those companies are not aware that management dashboard and performance indicators exist at an affordable price. To interpret that mass, they most often use a system they have developed themselves, for example from Excel spreadsheets.
However, this system creates a mass of figures rather cumbersome and requires managers a tedious work of research and analysis. In addition, it unnecessarily complicates the tracking and makes data visualization difficult, if not impossible. Not to mention the countless hours spent entering and updating data and risks of deleting or duplicating key data. Fortunately for SMEs, the market offers effective tools that greatly simplify the analysis of business results.
This is a graphical representation of business data using data, pie or bar charts, data curves, etc. gathered on the same screen.
With the management dashboard, the manager may focus on performance indicators (KPIs) which he considers essential.
These enable him to measure the performance of the firm for a specified period and to monitor the results or deviations from his goals, in real time.
Performance management is a continuous process that aims to plan, monitor, control and most importantly, reviews and analyze data on a company’s performance, as much as for internal stakeholders than external clients.
As we have seen, the use of traditional dashboards raises issues of ease of use and availability of data.
However, before changing system, small and medium-size enterprises want to ensure that the cost of a hi-tech management dashboard is not too prohibitive.
Namtek provides a management dashboard specially designed to meet the needs of companies with limited resources.
Activated by Salient’s Intelligent Suite, our management dashboard with performance indicators is one of the most affordable solutions.
It is offered in the context of a Software as a service (SaaS) model. You will not have to pay for a computer system but only an initial implementation cost and pay-per-use fees.
Our solution is particularly advantageous as it gives you the choice between a system deployed on premises or in the cloud.
The main qualities of a management dashboard are to be user-friendly, easy to read, interpret and use.
In addition to being much easier to decipher than thousands of aligned columns of numbers, our management dashboard allows the executive to visualize the data for its key performance indicators (KPI) in the same location.
To facilitate interpretation, the table displays an overview of the situation for each indicator. The business executive short in time can see all the results in aggregate, without having to change screens.
To access more detailed analysis, he will only have to click on one or the other graphics.
In addition to all these advantages, the management dashboard with performance indicators:
In short, it makes all data quickly available to you so you can make documented business decisions in ten times less than your usual system.
This post was updated to reflect current trends and information.
Employing some form of analytics to track company’s performance is more important than ever before, given the increasing competition in even the newly-realized platforms for business expansion – such as the mobile space.
Key Performance Indicators (KPIs) should be well-managed and easily-defined, so that the path to enhancing your business results is painless and adaptable to the changing times.
This is precisely where capable business intelligence software comes in. More than merely delivering accurate earnings reports, enterprise resource planning should entail automation of tasks, have wide applicability to multiple manufacturing and distribution industries, be affordable, and more. These attributes enable the SMB to concentrate on the business of running the company, without breaking the bank or sacrificing quality for cost.
As business intelligence software in the affordable SaaS model, erpwizard is at the front of the class for accomplishing all of these objectives, and it has a constellation of add-ons that ensure your business is ready to meet the challenges in any niche. Read more
