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5 New Trends For ERP in 2021

5 New Trends For ERP in 2021 / By

The rapid advancement of the technology is vital for ERP software in Mumbai to ensure organizations maintain continuity with the changing business pace and stay ahead in the market. The new ERP software trends fortify the software’s capabilities and open up new business opportunities throughout the organization. In this article, we present some of the most noteworthy ERP trends of 2021. Some of these have already started gaining momentum for years, while others are in their early stages of inception. 1. Accelerated Cloud Adoption There’s nothing new about moving to cloud-based ERP software. But it’s one of the game-changing trends that continue to prevail. In the past, ERP software was offered as on-premise solutions whose startup fees and hardware costs made the system too expensive for medium and smaller businesses. Moreover, ERP users had fears in placing their company’s data in cloud storage. Now, as cloud computing technology has started to optimize, more vendors are entering the cloud-hosting market, making ERP solutions more accessible to small and midsize businesses (SMBs). More organisations are opting for moving their business data on the cloud as they no longer have to worry about investing in expensive resources to maintain and keep their systems upgraded. Because of this success, SaaS solutions are going to dominate the ERP market. 2. Integration Of Artificial Intelligence Artificial Intelligence (AI) and machine learning (ML) is a relatively new concept in the ERP industry. When AI technology is integrated with an ERP system, it provides companies with innovative data processing capabilities and transforms business data into actionable insights. Earlier, ERP users had to install separate AI add-ons to their systems for accessing the benefits of intelligence and automation. But now, ERP solutions having built-in functionalities are becoming increasingly common. Being connected to the ERP systems, AI technology bridges business and functional silos. It uses intelligent analytics to help users make informed decisions, work faster, and avoid making many mistakes. This frees up employees’ productive time, which they can utilize for performing more valuable tasks. Overall, AI technology, when combined with ERP, improves business efficiency, productivity, and bottom line. 3. Mobile ERP Application Development We live in an era that believes in instant access to information. Likewise, today’s workforce also expects to access business data as and when they need it. A mobile-ready ERP solution is able to meet this need. Complete mobile support is one of the most trending technologies that a modern ERP solution needs to include. Besides providing on-the-go access to business data, these ERP applications also allow users to handle business processes anytime and anywhere through tablets and smartphones with internet connectivity. Mobile ERP software improves communication across the departments and vendors/suppliers. This lessens the risk of operational delays and minimizes business losses. Companies who choose to implement this technology would have an edge in driving growth, increasing agility, and controlling costs. 4. Personalized ERP Features Having a powerful ERP system is not enough on its own. It takes relevant features to instill exceptional operational efficiency and experience superior growth. Earlier, the modular approach made ERP solutions suit the needs of smaller organisations. This trend took another step forward. Now, ERP solutions have personalized features to support particular business needs. However, this doesn’t mean that each ERP application is created from scratch; instead, the systems are available in industry-ready templates that can be personalized according to the unique business requirements. Needless to say, a custom ERP solution would eliminate unnecessary features that add up to software implementation and maintenance expenses. 5. Powerful Business Intelligence Reports ERP software has always been reliable support for collecting and organizing data. It has become a more powerful tool as unlike bygone technologies, the modern ERP software solutions are now natively equipped with powerful data analytics tools to help companies make data-driven decisions quickly. Going forward, these ERP platforms are able to process both structured and unstructured data from various departments and therefore store every necessary information available to make the predictive analysis of future market trends. Get support from the best ERP Solutions provider for SMEs If you have reached this section, you already know what to look for in a future-ready ERP solution. And if your business isn’t already equipped with such software, we’re here to help you in implementing an ERP system that is perfectly equipped with advanced technologies for supporting your business in staying ahead of the competitors.                                               intelligence

3 Ways HRMS Can Reduce Employee Turnover

3 Ways HRMS Can Reduce Employee Turnover / By

Employee turnover can be frustrating for any company. It doesn’t just cause a loss of time, energy and morale, it can also cost a company anywhere between 90% to 200% of the employee’s annual salary, according to The Society of Human Resource Management. These costs include severance, recruitment, training and lost productivity. Some of this turnover is inevitable as employees circumstances changes. Yet the majority of voluntary turnover is preventable. Preventable turnover can be caused by a lack of career development opportunities, work environment, management behavior, job characteristics, compensations and benefits, and work-life balance. Human resource management systems (HRMS) are often used to automate administrative tasks and improve return on investment (ROI). But these systems can also retain a company’s number one resource – employees. Here are 3 ways that HRMS solutions can help businesses reduce employee turnover: 1. Improve employee engagement The first step in reducing employee turnover is to improve engagement because engaged employees are less likely to leave their organisation. Companies should begin by streamlining the onboarding process, as new employees who go through a structured onboarding program are more likely to stay with an organisation after three years. With HRMS software, onboarding can start even before the new employee reaches the office. Employees can sign administrative documents electronically, catch up on company news and business goals through self-service user portals, and join virtual social networks of colleagues. On their first day, employees will have more time to tour the facility, set up their equipment and hit the ground running. HRMS solutions can also boost retention through continuing education. Millennial employees ranked training and development as the most important benefit of working for a company, higher than cash bonuses, free health care and a pension. For small businesses, hiring speakers or holding physical classes may not be economically feasible. HRMS software offers a cost-effective alternative. Learning management systems and e-learning modules allow employees to improve individual skills and performance at their own pace. This type of professional development not only promotes employee engagement, but also prepares future leaders within a company who might otherwise leave. 2. Track employee goals, performance and recognition Employee turnover isn’t always a bad thing and can be necessary if employees are underperforming. However, measuring an employee’s performance can be a difficult task. HRMS solutions allow companies to determine skill sets, assign goals and track accomplishments. The performance data is beneficial to both employees and managers. Employees are empowered to: Monitor their progress Seek help and make improvements between scheduled reviews Determine their future goals Managers can: Assess employees in quantifiable ways Provide more relevant feedback Determine appropriate assignments Recognize employee achievements Develop succession plans to promote exceptional employees When employees feel that business objectives are aligned with their skill sets, projects are challenging and accomplishments are properly rewarded, they’ll be more likely to stay with a company. 3. Understand why employees leave When an employee leaves a company, HR departments conduct exit interviews or use paper questionnaires to understand why. However, this information may not be accurate. The interviewer may have a bias, the employee may not feel comfortable being honest in person or there may be no exit interview at all. HRMS solutions can communicate with employees even after they leave. Because they’ve had time to understand their reasoning and now have the space to be direct, their insight can be valuable. This information can be combined with other metrics collected by the software — demographics, performance, promotion wait time and compensation ratio — to create a more holistic analysis of employee turnover. Fully examining why an employee leaves is important because it helps to develop a strategy for reducing employee turnover in the future. Without proper data, HR departments are left to wonder if their assessments are accurate. An HRMS not only records necessary information, but also offers predictive analytics that can give HR departments more certainty in their workforce decisions and a clearer path for future recruitment and retention strategies. Thus with the right HRMS solution, businesses can follow the entire employee life cycle with a bird’s eye view. Companies can then develop evidence-based strategies to reduce turnover, improve hiring and retain the best talent. Enterprise resource planning or ERP software market continues to grow and is constantly changing. It is important for business leaders to keep upto date with the latest trends in the enterprise software industry, so that they are enabled to increase productivity, generate better insights, plan superior strategies, enhance decision making, and induce cost savings.

ERP Integration: The Benefits and The Best Practices

ERP Benefits / By

[vc_row][vc_column][vc_column_text]Successfully integrating your business with Enterprise Resource Planning (ERP) software doesn’t just involves a mere exchange of data but also interconnecting different business processes. This interconnecting leads to faster order processing, enhanced visibility, faster shipping of requirements which ultimately leads to a better customer experience. This can only be achieved through a smooth & flawless integration process. Below steps help in knowing the process Integrate with Intention A clear understanding of the requirements forms the most important part of the integration. Often the time spent between businesses and their integration partners falls short which disturbs the whole procedure. This ultimately leads to cost overruns, project delays and increase in efforts. The integration partners should be clear about the challenges that are being addressed, the objective behind the integration and the systems and data that would be synchronized. Limited Testing Testing forms a crucial step of integration and unfortunately is often the most neglected. The motive behind testing is not just to verify if the software is working fine, but also to see if the system meets the business needs and the intention behind the entire integration. Thus, the testing phase shouldn’t be avoided or limited, instead it should be well executed and planned. Training and Support Proper training and support to the end users is a mandatory task for prolonged integration. The management should not start using the tool before they have provided adequate training to the users. Generally, training is left to a very small phase at the end of the project which, in reality, makes it difficult for the end users to work with. Even if the entire business process is correctly integrated, the users who will be running the tool are not trained for it. This leads to the failure of what could have been quite a successful project. These steps helps to ensure that ERP integration is as smooth as possible. _____________________________________________________________________________________ Vritti Solutions Ltd. is a next generation IT Solutions company recognized amongst leading ERP solution providers in India. We are working towards fueling the knowledge based economy by consulting and developing innovative IT solutions. Vritti Solutions is a leader in ERP, CRM, WMS and HRMS software solutions in the Small and Medium Sized Enterprises segment in India.[/vc_column_text][/vc_column][/vc_row]

7 Essential Qualities of a WMS Software.

warehouse management / By

[vc_row][vc_column][vc_column_text]A good WMS will provide a spike in customer service, leading to greater customer satisfaction and increased profitability. Not having a good WMS means constant struggle to keep a stable customer base. So, what should you look for in a good warehouse management system? Here are 7 qualities that a good WMS should have. Maximum Functionality Obviously, the first thing you need to learn about a WMS solution is what it can do for you. When analyzing a WMS solution, ask yourself, “Will this WMS streamline our business processes?” For instance, if your company has a hard time measuring employees’ productivity, a good WMS solution will help. A WMS should be able to track what tasks an employee has performed (and where they were performed), giving you direct visibility your workforce’s efficiency. Ease of Use If a WMS is easy to use, it will reduce the amount of time you spend on employee training – for ALL employees, from pickers to senior management. A well-designed WMS lets users spend less time setting up and monitoring daily operations, so they are able to quickly adapt to new requirements. New employees can also be up and running in a matter of hours, instead of weeks. Most importantly, clear navigation ensures that all employees will be able to leverage the WMS functionality to the fullest. Complete Transaction Management A good WMS will let you manage everything from door to door – from receiving to manifesting. You want a WMS that gives you detailed information for everything – products, employees, and transactions – every step of the way. At a minimum, the following are some of the steps that should be tracked: Receiving Putting away received goods Order picking Shipping Cycle counting (inventory audits) Any item movement When you can track everything that is going on in your warehouse (from people to movement to products), you can do specialized analysis that will help you hire smarter and stock products more efficiently. Flexibility A WMS solution needs to be able to scale with a company’s growth and adapt to meet future requirements. Otherwise, it’s not a long-term WMS solution. WMS is more likely to work with future applications and operating systems (rather than locking you into a particular platform). Another flexible quality would include hardware. A WMS should be compatible with other versions of: RF scanners/terminals fork truck-mounted RF terminals label printers scales Finally, how flexible is your potential WMS when it comes to different business types and sizes? A good WMS should have demonstrable success with wholesale and industrial distributors of all sizes. Useful, Easy-to-read Metrics Data is important, but so is data presentation. It’s one thing to have metrics that help you track the performance of your warehouse operations; it’s quite another to be able to understand the data. A good WMS should allow you to easily create reports and charts that let you see how your warehouse is running. For example, a good WMS might track employee and warehouse performance in real-time across organizational groups, allowing management to compare the performance of employee sets (morning pickers, evening pickers, receiving, etc.) and operational organizations (east division, west division, etc.). You want to invest in a WMS that measures the performance of individual employees against standards that include both speed and accuracy. Seamless ERP Integration Your WMS has to work in tandem with your ERP to keep a business running. That’s why it’s so important that you choose a WMS that works with major ERP systems – seamlessly. The WMS that you invest in must be fully compatible with your current ERP system. When choosing a WMS, ask if it’s compatible with Activant, Infor, JD Edwards, MS Dynamics or Oracle’s business solutions. In addition, a WMS vendor should be skilled at developing additional ERP integrations. Value for ROI Price is only one small part of total cost of ownership. Functionality, flexibility, integration, scalability, ease of use, customer support and more all come into play. When choosing a WMS, you obviously need to weigh these factors. Remember that lower upfront cost may seem appealing, but may ultimately cost you more in the long run if the WMS solution (or vendor) is unable to meet your needs as your business continues to grow and develop. Conclusion A poorly chosen WMS can end up costing you more than it saves as you attempt to fix problems with costly integration or customization work to fit requirements. That’s why it’s crucial to look at the overall value of a WMS solution – does the slightly more expensive WMS do more of what you need, now? It might cost you less over the lifetime of the product, even if the initial price tag is more than an off-the-shelf solution that appears frugal. _____________________________________________________________________________________ Vritti Solutions Ltd. is a next generation IT Solutions company working towards fuelling the knowledge based economy by consulting and developing innovative IT solutions. Vritti Solutions is a leader in ERP, CRM, WMS and HRMS software solutions in the Small and Medium Sized Enterprises segment in India.[/vc_column_text][/vc_column][/vc_row]

The biggest challenges that sales people face

testimonial / By

[vc_row][vc_column][vc_column_text]1) How to qualify and follow up on leads? 2) How to prioritize sales activities? However, CRM is a tool that not only solves those key problems. In fact, it is able to handle other, no less pressing issues like: Safe storage space CRM helps sales people to safely and centrally store their contacts, sales opportunities, activities and scheduled plans in one place, and have uninterrupted access to the database from multiple locations. Rest assured that your data won’t just get lost. Time management CRM helps sales people to optimize their daily schedules and prioritize tasks to make sure customers are not ignored and the key prospects are contacted on time. In fact, CRM allows sales team to spend more time with customers, which leads to more deals closed and a stronger customer base. On time activity reports CRM helps sales people to easily prepare their weekly or monthly reports for management. The process is automated and transparent, and takes just a few clicks to inform others about what sales are currently in progress. Focused targeting CRM helps sales people to segment data and identify valuable opportunities via criteria based selections. This prevents you from hours of cutting and pasting from various documents, or surfing in the disorganised lists of data. Show up in time for the new sale By tracking all communication with the customers, CRM helps sales people to know exactly when customers need to be contacted; for example, for product replacement, contract renewal, or for an upsell to a new product or service. This all increases your chances of closing a sale. Rationalize your sales moves CRM helps streamline the entire sales cycle, which results in closing deals in your sales pipeline and helping everyone in the team to reach targets faster. Since order processing and preparing quotes is automated in CRM, sales teams are able to reduce production costs and increase sales revenue. Know what your customers really want Since all the customer-related data is stored in CRM, it helps sales team to analyze the needs of customers and even anticipate their problems – all at the right time. All this increases customer satisfaction and ensures loyalty, as well as higher profit margins. Cut down on admin tasks CRM releases the sales teams from the majority of admin tasks by reducing and even removing some of the repetitive actions that take a lot of time, but yield little profitability. CRM stores product and price details, triggers reminders for activities, and takes sales people through the sales pipeline step by step. Save money Even though CRM systems are not cheap, they actually help you save your money! With sales people, it is the reduction of errors (for example, in orders or quotes) that CRM can help with. Effort and cost related to correcting those errors may be much higher. Finally, it also boils down to such trivial things as saving money on those cluttering and often vanishing Post-it notes, since every new information can be safely stored in the system. Conclusion In a nutshell, sales people and CRM is not an immediate “match made in heaven”, but the more time these two spend together – the stronger the attraction between them becomes. If adopted and used correctly, CRM is going to boost the performance of any sales team, and will help sales team to excel in 4 areas that are critical for them: better search, sort and qualify leads; follow up on sales opportunities systematically and on time; prioritize and rationalize follow up activities; and increase target reach rates faster. _____________________________________________________________________________________ Vritti Solutions Ltd. is a next generation IT Solutions company working towards fuelling the knowledge based economy by consulting and developing innovative IT solutions. Vritti Solutions is a leader in ERP, CRM, WMS and HRMS software solutions in the Small and Medium Sized Enterprises segment in India.[/vc_column_text][/vc_column][/vc_row]