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ERP Feature: Take a look at the new capabilities of Dynamics AX

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ERP: An insight on the new capabilities of Microsoft Dynamics AX

If you’re an IT employee at a large company, chances are you grapple with a host of different user login names and passwords, all while ensuring the right people see the right things at the right time. It’s no easy task—and accidentally granting access to the wrong person or relying on multiple passwords and usernames can add up to serious security vulnerabilities. This is where ERP Security comes in.

Security is a core tenant of any good ERP system, which is why the latest version of Dynamics AX incorporates design enhancements to safeguard permissions, privacy and security of access, making your job easier and your work secure. These enhancements include single sign-on and web only identities, both made possible through a painless deployment process.

 

Single Sign-On in the Cloud 

Dynamics AX resolves the issue of multiple sign-on profiles through its integration with Azure Active Directory, Microsoft’s multi-tenant cloud-based directory and identity management service. Now customers and partners can use a single identity to access the full Dynamics AX system using web-only IDs. With identities managed in the cloud, users can log on to Microsoft applications anywhere, and access multiple Microsoft services—including SharePoint Online, Power BI and Azure SQL—in one seamless experience.

The Azure Active Directory integration also offers financial benefits to enterprise customers who have already invested in on-premises active directory solutions. Instead of replacing the entire system, they can use Active Directories to extend their on-premises directory to the cloud. The single sign-on feature also reduces time and money spent on IT management organisation-wide by safeguarding identities in Azure, Microsoft’s secure cloud environment.

 

Controlled Access: What You See is What You Get

The overall design of Dynamics AX has been changed to ensure system users only view content to which they have been granted access. Now, what you see is truly what you get. For example, if a designer intends for a certain artefact within the system to only be read by a certain user, Microsoft can now ensure that’s going to be the case. This simplification is appreciated by Microsoft partners who notice it makes development faster and debugging easier.

 

Deployment Made Simple

Even with all of these new security developments, setting up an ERP system can be daunting. Fortunately, Dynamics AX also offers the flexibility for companies to scale at their own pace, taking some of the complexity out of the customer experience. This simplified, flexible approach is empowered by Dynamics AX’s cloud availability. Servers are deployed in Azure by Microsoft, and setup prerequisites are installed by Microsoft, so it’s almost as easy as clicking a button.

Users will find as Dynamics AX moves to the cloud, so does the Microsoft development team. As Azure continues to develop, the Microsoft development team are working to constantly update features and simplify deployments in order to better serve AX users.

 

Are you already familiar with ERP Systems and Microsoft Dynamics AX? Be sure to check out our latest job vacancy which is primarily focused on the management and maintenance of an ERP System within an established manufacturing firm. You can view it by following this link!

– Umran Hasan

What is Business Research & Development (R&D)?

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An In-Depth View at Business Research & Development and it’s advantages

Business Research and Development departments are common in many larger companies, especially those working with newer products or technologies subject to important shifts. While research and development work can be instrumental in creating new products or adding features to old products, the work that the department does is more complex than simple innovation.

Business Research and development (R&D) refers to the investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.

Consumer goods companies across all sectors and industries utilise R&D to improve on product lines, and corporations experience growth through these improvements and through the development of new goods and services. In general, pharmaceuticals, semiconductor and software/technology companies tend to spend the most on R&D.

 

BREAKING DOWN ‘Research And Development – R&D’

The term “research and development” is widely linked to the concept of corporate or governmental innovation. Known as research and technical/technological development (RTD) in Europe, activities that are classified as R&D differ from one company to the next, but standard primary models have been identified.

 

Basic Research and Development Organizational Setups

There are two basic R&D structures that have emerged in companies throughout the commerce spectrum. One R&D model is a department that is staffed primarily by engineers who develop new products, a task that typically involves extensive research. The other model involves a department composed of industrial scientists or researchers, all tasked with applied research in technical, scientific or industrial fields, which is aimed at the facilitation of the development of future products or the improvement of current products and/or operating procedures.

R&D is different from most activities performed by a corporation in the process of operation. The research and/or development is typically not performed with the expectation or goal of immediate profit. Instead, it is focused on long-term profitability for a company. Companies that employ entire departments devoted to R&D commit substantial capital to the effort. They must estimate the risk-adjusted return on their R&D expenditures, which inevitably involve risk of capital, as no immediate payoff is experienced and the general return on investment (ROI) is somewhat uncertain. The level of capital risk increases as more is spent on R&D.

 

Basic vs. Applied Research

Basic research is systematic study aiming at fuller, more complete knowledge and understanding of the fundamental aspects of a concept or a phenomenon. Basic research is generally the first step in research and development, performed to give a comprehensive understanding of information without directed applications toward products, policies or operational processes.

Applied research is the systematic study and gleaning of knowledge and understanding to apply to determining and developing products, policies or operational processes. While basic research is time-consuming, applied research is painstaking and more costly due to its detailed and complex nature.

 

What are the advantages of Business Research & Development?

Leaps in Market Participation

Market participation refers to the ability to attract new customers and win customer interest. At its core, research and development is about innovation, about offering consumers something they have never seen before. When R&D can pull off such a product offering, the interest that consumers have can cause a sharp leap in market participation and sales. It may even create an entirely new market for the company.

Cost Management Benefits

Research and development does not produce value directly in relation to how much funding the department receives. It is unique in this property; the success of R&D depends more on the practices, talents and innovations of the people working there than on how much money the department receives. This means that a company can actually spend less money on research and development than many competitors but work to secure talented employees and proper goal orientation and still produce good results.

Marketing Abilities

Research and development strategies allow companies to create strong marketing campaigns and advertising strategies. The two work together very well. The research and development department works to make new product designs or add features, and the marketing department interprets these changes in the most exciting light possible in order to attract customers, creating synergies between the two branches.

Trend Matching

Many times a market is already embracing a trend, and the research and development department can be used to make the business active in that trend and increase sales. For example, in markets rapidly embracing green products, a company can use research and development to make products out of natural ingredients, recycled materials or biodegradable substances, allowing for the release of an eco-friendly version of the product that increases sales. When R&D can catch up with trends, the business is seen as adaptable and profitable.

 

If you found this article interesting, why not check out our latest Business Development Executive Role? It may be the perfect opportunity for you to take the next leap in your Business Development Career! You can view it by clicking on this link!

– Tyler Lacoma

– Investopedia

4-Tips from Richard Branson on Business Growth Strategies

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Starting your own business can be one of the best decisions you make in life, but it can also lead to some tough situations, and hard decisions to make. Fortunately, Richard Branson has shared some of best advice for growing a business…

“It is no easy task but with the right support and a smart approach, the dream of scaling up your venture from start-up to successful business is in reach,” the Virgin Founder says in a recent SME Advice blog. “If you want to be in business 10 years down the line, you must have a deep understanding of your business, the market it operates in and a great team to support.”

 

Plan for the long-term

Failing to plan for the long-term and thinking about the possible risks and opportunities could make all the difference to the success of your business. “Setting some milestones for you and your team to work towards will keep you motivated and driven,” Branson recommends.

“There will be obstacles to growth you cannot foresee but having a roadmap in place from the get-go will help build structure and focus to decision-making.”

He also suggests putting in place strategies to mitigate any obvious risks to your business model from the start. “If you have a clear vision of where you would like your business to have expanded to after 10 years, plan how you can achieve this.”

 

Stick to your founding principles

Branson has one key piece of advice for when expanding into new territories or creating new products: “Having a uniting them all under one roof is one of the best advantages a business can have. Customers relate to brands and the values it stands for more than the tangible aspects of a product.”

He advises working out your business’ values and principles early on so that you can turn these values into tangible activities your customers can interact with. “Virgin has always been about putting the customer at the heart of everything we do and innovating in industries ripe for disruption. This is what our brand stands for and is applied to every business bearing our brand name.”

 

Gather a great team

Investing in the people you’re working with and trusting them with responsibility is another key ingredient to building a successful business, Branson says. “I learnt this from a very young age. There is little point recruiting great people if you don’t then give them the autonomy to take their role and run with it.

“It also frees you up as the founder to focus less on the day-to-day activities and more on the over-arching objectives laid out in your 10 year roadmap. Over my 40 years in business I have assembled a fantastic team to run the Virgin Group’s day-to-day activities and this has freed me up to spend 80 per cent of my time working with Virgin Unite – the not-for-profit arm of the Virgin Group.”

 

Get the right support

Having a good mentor can help you learn from others’ mistakes and hopefully avoid them, as well as teaching you how best to use the funds you have available, Branson says. “I myself benefited hugely from the words of Sir Freddie Laker when starting Virgin Atlantic. He told me I could never compete with the big advertising budgets of the large airlines and would have to get out there and use myself to promote Virgin Atlantic.”

If you found this article interesting, be sure to check out our latest Business Development Executive job role by following this link!

Ever wondered what the most commonly asked Job Interview questions are? You can find out by clicking here!

– Natalie Clarkson

The Difference between ERP & CRM Systems

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CRM and ERP – Two systems becoming increasing popular in businesses of all sizes. But what exactly are these systems and how do they differentiate from one another?

Today’s technology gives companies an advantage they have never before had. With the ability to streamline processes and access data in real-time, companies can stay on top of their competition. In addition, today’s data analysis technology allows companies to foresee future events and plan accordingly. These tools, which include both enterprise resource planning software (ERP) and customer relationship management (CRM software), give companies the power to control their success in today’s market. While similar at first glance, ERP and CRM platforms are distinctively different. Understanding each platform is critical to your system’s success.

 

What is ERP Software?

First and foremost, ERP software is designed to make a company’s processes more effective and efficient. By better managing all of the key functions of a company – accounting, warehouse, inventory and supply chain – ERP software allows the company to focus on what really matters: the data. With integrated ERP software, employees can update the platform with important information available in real-time to all departments within the company. This integrated technology gives companies a heads-up when problems occur. If there is a problem in the supply chain, the ERP software will capture the issue and make it available to all areas affected, such as the warehouse. ERP not only provides all departments with updated information, but it also gives companies a clear and accurate picture of their standings at any given moment.

 

What is CRM Software?

CRM software fulfills the customer-side of the system. Customer relationship management systems (or CRM systems) focus on just that : customers. This software manages customer information and captures all relevant details for the company. This information is used all across the board, from sales reps to managers to accounting personnel. A quality CRM system should capture every interaction the company has with the customer. By properly managing customer information, companies can build their customer relationships in order to increase customer loyalty and, ultimately, revenue.

 

Integration

Both types of software manage important information for your company. While both software systems manage different information, their integration is critical. The benefits of integrating these systems are many, including ensuring an optimal return on your investment in both platforms. The information captured by both platforms helps employees make better decisions. For example, a sales rep could not make an effective sale without leveraging both CRM and ERP. By forgetting CRM, the rep could miss out on information crucial to that client’s sale. Without ERP, the sale has the possibility of not being communicated to accounting, production and/or warehouse departments, creating a mess that could result in unmet client expectations.

Ultimately, integration between ERP and CRM ensures that your customers’ expectations, and your company goals, are met. This integration guarantees that all departments in your company are working together. The sales rep can communicate with the accounting, supply and warehouse departments before making the sale. If there are problems, the sales rep will be notified ahead of time. This gives sales reps the ability to close deals with all necessary information and maintain a good name for your company. Without ERP and CRM integration, your company stands the risk of being lost in communication.

 

If you’d like to know more about Enterprise Resource Planning, be sure to check out last week’s blog post discussing the costs involved in implementing an ERP system. You can view it by clicking here!

If you’re looking for careers in ERP system management and administration, we might just have the right vacancy for you. Check it out by following this link!

– Robert Baran

ERP Feature: How much does a typical implementation cost?

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The use of ERP (Enterprise Resource Planning) is becoming increasingly common in a variety of businesses of all sizes. But what costs are involved in implementing this sort of software?

Whenever a company considers implementing an Enterprise Resource Planning (ERP) system, one of the first questions they typically ask is, “How much will this cost?”

This is a fair question. Implementing an enterprise-wide integrated accounting and business system is a significant investment, and although there are many variables to take into consideration along the way, it can help to have a general idea of what to expect.

The following guidelines apply to most small- to medium-sized companies looking to implement any ERP system.

 

Type of company and number of users – Not all companies have the same requirements of their ERP system.  Generally, a moderately-sized manufacturing company will require more complexity than a similarly sized professional services company. Since most ERP systems are priced according to the number of concurrent users and the level of access each of these users will require from the system, companies should expect to pay around $4,000 per concurrent user for a manufacturing or complex distribution company and around $2,000 per concurrent user for a professional services or light distribution company. Additional licenses for “light” users (users only requiring limited access to the system) are usually priced at a few hundred dollars per named user.

Third-party software – Third-party software products are often available to extend the ERP software or enhance it with applications tailored for a specific industry or specific business process needs. Third-party add-ons typically account for 10% to 35% of the overall software cost.

 Implementation costs – There are many factors that influence the actual cost of implementation: the company’s industry, the size of the company, the anticipated transaction volume, scope and complexity of the implementation, and the number of third-party integrations, to name a few. Most implementation costs are calculated based on a ratio of software to services. The more the company implementing the ERP system can handle on its own without relying on external vendors, the closer the software-to-services ratio can get to 1 to 1. For most companies of average size and complexity, however, it is more common to see software to services ratios of 1 to 1.5 or 1 to 2.5.

Customization – Very few ERP systems can be installed and used “out-of-the-box.” Therefore, most companies will require some amount of customization to integrate the ERP software into their workflow. The amount of programming, testing, and training is directly related to the size and scope of the effort.

 The bottom line – For a typical mid-sized company, the total software and services cost will range between £100,000 and £560,000. Hardware and infrastructure costs are usually addressed separately, and typically these estimates assume an on-premise implementation rather than a hosted or subscription-based solution.

Admittedly, this analysis yields a wide range in price, but it should assist companies who are just starting the evaluation process to understand the factors that influence the cost of their proposed ERP implementation. Moreover, it should prompt companies to carefully evaluate estimates that fall significantly below or above the ranges discussed here to ensure there are no hidden costs and that the company is receiving the best business value while they seek to minimize cost and risk.

 

Do you possess experience in ERP Maintenance and Administration? If the answer is yes, our new ERP Business Support Analyst job role may be just right for you. Check it out by clicking here!

– Greg Kaupp

6-STEP Guide on Transitioning from Excel to ERP

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Transitioning from Excel spreadsheets to an ERP system can be daunting. These tips will help ensure the process goes smoothly.

Spreadsheets are cheap, easy to manage and can accommodate many different types of data. Therefore, it’s no surprise that, according to reports, 71 percent of companies still rely on spreadsheets as a pose to ERP for budgeting and planning. For many small businesses, spreadsheets are a system of first choice when just starting out.

However, something happens when your business matures and becomes more successful. As an organization grows, so much data is generated that it makes manipulating figures and creating accurate financial statements a time-consuming and error-prone task when using spreadsheets.

The biggest problem with spreadsheets is often their isolation from the rest of the enterprise, making collaboration fraught with challenges. Data cannot be automatically or even easily incorporated in the system. Even when it is, it is nearly impossible to prevent multiple versions of the same data from distorting results.

Most organizations accept that spreadsheets are going the way of landlines, encyclopedias and floppy disk drives. However, after making this tough decision, businesses face a challenging prospect: how to get all that data from Excel and into their ERP software of choice. Modern-day ERP offers some powerful tools for seamless integration – and the resulting solution is well worth the time and effort.

Here are six tips for making your transfer from spreadsheets to ERP as easy and painless as possible.

1. Evaluate Your Current Data Processes

When businesses have used the same systems for years, they can fall into a pattern of habituation, where tasks and reports become automatic, filled out without much thought to their need and use. Only when an issue with an internal procedure/process arises does a system get reevaluated and updated.

The transition from a system of Excel spreadsheets to an ERP solution can be an ideal time to take another look at the processes your business has in place. Evaluate what information you currently gather, how that information is used and what additional information would be beneficial. The added capabilities provided by ERP systems can also provide you with a new lens through which to consider your current processes — and may unearth new procedures you wouldn’t have considered otherwise.

2. Determine if You Need All the Data

In addition to reviewing processes and procedures, take a closer look at historical data and consider how often it gets used – and what might no longer be needed. Determining a specific date and only transferring files from after this date can optimize the process and save a lot of time and energy. You can always go back and add additional data if needed.

Speaking with an expert who has experience in this area can be helpful, as they will already understand potential pitfalls and help you avoid them. Check with other business owners in your circle who may have already completed their own transitions, or ask the companies you are considering purchasing your system from for references.

3. Break Data up into Sections

Just like anything else in business, you need a plan to be successful when transitioning data over to a new finance system. Decide if it makes more sense to attempt a mass transition, or a slow and gradual process. Keep in mind that most companies benefit from a gradual process, but there are instances where a quicker transition might be the better option. An example of this would be if the data is used regularly and needs to be accessible in its entirety, even during the transition.

Make a list of the milestones you need to achieve. Include steps like picking out the right product, testing the system and training end users. This list will ease some of the stress associated with the migration.

4. Choose ERP Product Based on Your Specific Needs

Before choosing an ERP solution, you need to understand all of your options, both customized and out-of-the-box solutions. First, however, you should understand which kind of systems your organization needs. Once you have this information, it will be easier to compare software programs and choose the right solution.

For example, a company that outsources its marketing functions may have little use for an ERP that prioritizes marketing. However, that same company may thrive on the increased knowledge it has from automated financial reports that highlight just where improvement is needed and which areas of the business are performing best.

It sounds like a no-brainer, but when making a decision, pick a finance system that meets your exact needs. Try not to make any assumptions at this stage in the process, as the answer to a quick question can often change the direction that your company chooses to go in. It is important to uncover what exactly each vendor offers and how it could benefit your company’s operations. There are many systems out there capable of managing your finance system, but powerful capabilities are only beneficial if they can be directly applied to your business.

5. Prepare Your Team

Most likely, you aren’t transitioning to a new financial system alone. Consider how you want to prepare your team to help in the transition. You have two types of people to prepare as part of your transition: team members who will help you migrate your information, and end users of the software programs selected. Get feedback from both of these groups on what they need out of the new system early in the process so they remain more invested over the long run.

Regardless of how you choose to transition the data over, allow extra time in your plans. Something unexpected may come up and you don’t want to be caught off guard. By anticipating that the project may take a little extra time and preparing your team for this, you may be pleasantly surprised with an earlier-than-planned finish.

6. Remember Long-term Benefits of ERP

It is easy to forget the reasons why you are transitioning to a new system in the middle of the process and instead be caught up in the ups and downs of day-to-day work, that, let’s be honest, can be tedious and challenging when working on a full data transfer. Whenever you question if the process is worth it, try to take a step back and remember all of those benefits of switching to a new accounting system, including increased accuracy, better analytics and a streamlined business process. Encourage the rest of the team to do this as well.

In Conclusion

Setting out to implement a new ERP solution, especially when it comes to your business’ financials, is a daunting task. However, by approaching the task with the right mindset — and a few industry tips — you can reduce stress and minimize the time it takes to be up and running with a new system. Organizations that go beyond spreadsheets are able to make faster and better decisions by reducing manual routine work and human error.

Are you already familiar with Enterprise Resource Planning strategies? Looking at taking the next step in your career within the ERP Business Analytics sector? Why not check out our latest job role by clicking here!

 

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