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3 ways forecasting improves business outcomes
Budgeting and forecasting can be an arduous, tedious and stressful process for many finance and accounting practitioners. An annual budget can contain thousands of lines of detail from various departments that must be aggregated, validated, analyzed and ultimately presented for approval. Forecasting can be equally difficult when a company does have the capabilities to quickly…
100% ROI Achieved With KES and Enterprise Document Management
Document Imaging vs. Document Management If you have been in the business world in the last 10 years, you have likely had the ‘Paperless’ conversation at some point within your organization. The most common first step toward going paperless is to start turning paper into electronic images. You have the tools you need already, right?…
NetSuite 2016.1 Release Notes – Summary
While all of the features included in the new release can be viewed by accessing the 2016.1 Overview webinar or by downloading the release notes from the portlet, we have also summarized the features that are relevant to most of our clients on the attachment. As with all releases provided by NetSuite, we recommend that…
Microsoft Dynamics GP 2016 – New Release
By Hans Stabell, Kraft Enterprise Systems Microsoft Dynamics GP offers a cost effective solution for managing and integrating general ledger, sales, supply chain, manufacturing, project accounting and human resources in addition to increasing visibility and improving oversight at all levels of the business. The new release of Dynamics GP 2016, planned for Spring…
NetSuite Tips & Tricks (2016Q1)
By Christy Pack, Kraft Enterprise Systems Setting Up Daily Fact Alerts NetSuite users rely on customized dashboards to provide them with the latest reminders and events to stay up-to-date with their evolving business. However, if the facts and numbers are outdated, they could have negative consequences when making important business decisions. Unfortunately, for busy professionals,…
Why Your Company Should Adopt NetSuite in 2016
Is your organization a fast growing company with a continually evolving business model? Do departments consistently rely on spreadsheets for operational and financial information? Is e-mail a system of record for the business? These are all signs that it might be time to adopt a full scale business management system. While that sounds like a…
Why Pay Legacy ERP Maintenance Fees?
Many legacy ERP products like Sage, Epicor, Oracle, and Microsoft Dynamics require expensive maintenance fees ranging from 16-24% of the full product price. What is included in that yearly fee? Support and the right to future software releases are generally included in these fees. However, most legacy ERP systems have been customized, which translates into…
How To Succeed in B2B e-Commerce
E-Commerce has helped many retailers open up new markets, expand offerings and increase revenue. Most notably, the estimated sales volume from Black Friday through Cyber Monday increased by double digits while in-store purchases decreased by almost $1 Billion. The majority of Black Friday purchases are B2C (Business to Consumer) and is obviously very different than…
Dangers of IBWA (Inventory by Walking Around)
I.B.W.A. is an acronym for Inventory by Walking Around. This is to describe the process where an inventory manager or warehouse employee walks around the warehouse to determine quantity and location of inventory items.
What is your digital disruption plan for 2016?
Digital transformation is becoming a more prolific topic among the top consultancies in the world. When the darling blue chip GE starts an active advertising campaign touting itself as “The digital company. That’s also an industrial company.” it may be time to evaluate what impact a digital transformation will have on small to mid-size businesses.
How to avoid a software implementation disaster
Implementing a software package, whether it’s for accounting, inventory management, manufacturing resource planning or any business area, is always a challenge for even the best organizations. The result of a software implementation should not just be new technology, but must also be better processes, improved efficiencies and a reduction of business risk. However, the prospect of an implementation itself is risky.
The seven deadly sins of Excel-based budgeting
Microsoft Excel is the most widely used information management tool among businesses. Smaller companies typically use it to track expenses, keep up with accounts receivable and manage critical information like payroll. Larger companies have ERP, accounting and/or HR systems to manage that information, but often use Excel for budgeting and forecasting.