Microsoft has recently announced the features that will be included in the 2021 Year-End update to Dynamics GP, which will include the 2021 feature release as well. Dynamics GP continues to add yearly updates in terms of hotfixes, tax code-compliant updates, and other regulatory fixes. The following features are all based on customer requests, so users can look forward to improvement to these updates. Another advantage of this release is that new registration keys are not needed for this release.  

Microsoft Dynamics GP 18.4 Updates include:

Distribution

As a business owner an ERP system will take your business to the next level. It will take all your current business flows and transforms them into a single process. Majority of ERP systems have already been pre-developed to fit the standard business prototype but can be modified to better fit your business needs. Once you have the ERP system in place, you will have access to all the right tools to remain highly competitive in the marketplace and become more efficient. Implementing an ERP system for your business can be highly profitable in the long run and can assist your company in becoming more scalable for future growth. Here are three reasons why you should implement an ERP system:

Reason One: Streamlined Processes

Once your ERP system has been implemented, all of your department’s processes streamlined. These faster and simpler working methods will increase employee efficient and in return, create a stronger business model. Also, room for human error decreases significantly when an ERP system is in place. As multiple departments, work as one, the business can now develop and grow into something bigger than it was before.

Reason Two: Customer Service

This webinar is a continuation of the Dynamics NAV Manufacturing Series. In Part 7, we will discuss the following;

• Variance reporting
• Labor reporting
• Dashboards and insights
• Power BI
• Variance reporting
• Labor reporting
• Dashboards and insights
• Power BI

Date: Tuesday March 20, 2018
Time: 11:00am - 12:00pm EST

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Part of what makes ERP software so popular within various industries is its ability to adapt alongside growing companies. Gone are the days where organizations were required to spend tens of thousands of dollars for system update fees. Instead, companies now have the freedom to grow freely, and no longer need to be tied down by software limitations. In this post, we discuss the three features of scalability in ERP software and how this benefits businesses:

Enhance customer account management:

As your company grows, so too will your list of clients and customers. Your systems must be able to handle this increase in customer information, ensuring you have the necessary space to add additional data entries and ensure that your systems continue to run smoothly under heavy workloads and across multiple applications within your system.

Cross-platform capabilities:

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According to the latest statistics from RightScale 2017 State of the Cloud Report, current cloud adoption among companies is 95%. This could mean that we’re not too far away from having 100% of companies who will use the cloud for their daily tasks. There is no better time than now to think about moving your ERP system to the cloud. Here are 3 reasons why you will benefit from it.

Lower Costs

The most common and the most attractive benefit is, of course, price. A cloud-based ERP system offers lower upfront and operating costs - you wouldn’t need to spend a huge amount of money on hardware, purchasing the ERP solution itself and hiring staff to maintain it.  A cloud-based ERP system requires only flat-rate monthly fees, which will make your life much easier and become a less costly option for your business.

Quicker Access to Information

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With the help of Microsoft Dynamics, thousands of companies have successfully integrated ERP software into their companies, which has helped them to reduce their operational costs, minimize their capital investments among other benefits. However, the system is not infallible. Part of the reason we here at WebSan offer support services as well as online training is because we recognize that ERP software is still a complex system and difficult to figure out on your own. Although self-learning is not discouraged, many companies dive head-first into a new ERP software without taking important considerations into account which can only create future headaches. Below, we outline 3 common mistakes companies make with their ERP software implementation and offer suggestions on how to best avoid them:

1. Poor planning:

At this point, you’ve most likely heard that thousands of companies are using ERP software to help streamline their business operations as well as how it has helped companies expand their operations. At this point, companies may decide to jump on the bandwagon, purchase an ERP system and expect their company to instantly become more productive. This however, is never the case. Research is imperative to ensure that the product will suit the needs of your business. Lack of planning and research on what ERP software is best for your company will at best result in failing to utilize the software to its fullest potential, and at worst be a huge waste of time and money. Be sure to research the product beforehand, and if necessary seek third party help to better understand how to successfully implement ERP into your company. 

2. Insufficient company engagement:

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As a small business owner, you always think about new solutions to increase revenues and boost your company’s growth. ERP software is definitely one of those things that can help improve your business’ efficiency but, as everything in life, it can have some pitfalls. What are the pros and cons of ERP for small businesses? We examine them below:

ERP Pros

• Increased productivity - By storing all the data in one place, it makes it much easier and faster for your employees to get the necessary information and focus on working towards the business’ goals for success rather than spending time contacting other employees from different departments.
• Improved collaboration – A robustERP system will help improve collaboration between teams by providing easy access to data to help make decisions quicker.
• Lower operating costs - With one ERP system, you don’t need to spend money on separate software for each department.
• Generate business insights – An ERP software performs analysis on different processes, so it makes the process of a decision-making smoother and more comfortable with accurate data.
• Improved security - ERP systems provide advanced security settings, so you can rest easy knowing that your data is well-secured.

ERP Cons

• High price - It’s no surprise that ERP implementation and its further use are followed by significant expenses. But the modern market of ERP software can provide you different price options for any budget. As an example, Microsoft Dynamics 365 for Sales, starts from only $48.60 per user/month.
• Staff training - Usually, it takes a significant amount of time and effort for employees to learn new software. But thanks to WebSan University, you can make this process faster and more efficient.
• High risk – The ERP implementation process can become a problem for a small company because of challenges of data migration from an old system to a new one. Our advice: Have patience and read about 3 Biggest Failure Cases of ERP Implementation and How You Can Avoid the Same Mistakes for some tips.

Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence

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As we’ve mentioned in a previous blog post, an ERP system is not a quick fix to all of your company’s problems. At times, it may even be difficult to measure whether your company is gaining any benefits from implementing your ERP software. If you’re doubting the effectiveness of the software, I suggest reviewing the following areas of your business first:

Tracking Customer Service Experiences: In today’s market, providing outstanding customer service can be the determining factor on whether a customer will choose to do business with you or a competitor. An ERP software puts you in control of the consumer buying journey, enabling you to track online customer experiences, line item fill rates and ensure delivery times to your customers. You’ll be able to compare these measures with previous results to identify trends and determine if the ERP software is making a difference in your company.

 Measuring Profit Margins: If you’ve ever taken a business course, then you’ve probably heard of the ’80 – 20’ rule, which states that 80% of a company’s revenue is typically generated by 20% of its total customers. An ERP software can influence your overall strategy, allowing you to concentrate your sales efforts and target your more profitable customers. Once again, the results can be measured and compared with historical data.

Impacts of Inventory Management: One of the key features of an ERP software is its ability to manage and track inventory. Not only does this allow your company to better meet consumer and production demands, but also ensures your company will not be spending more on excess stock and tying up additional capital and resources.

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Enterprise Resource Planning (ERP) software offers the benefits of streamlined and integrated business processes, lower cost of operation, improved reporting capabilities, data security and increased productivity. With multiple benefits brought about by an efficient ERP system, the process of selecting the right system that can help support your organization’s needs can at times be daunting.

To help increase the odds of choosing the right ERP software, below is an ERP selection tip sheet that outlines key steps for selecting the right ERP software.

1. Know and prioritize your software requirements

• Start by identifying what challenges you want to solve and what your current system is unable to do for you. It’s best to divide the list into features that are must-haves and nice-to-haves. The more specific you can be about your software requirements, the better. As an article from Software Advice notes: “by knowing what you need, you’ll be in a better position to control the selection process, rather than let software vendors dictate your needs.”

2. Carefully evaluate your options before deciding on an ERP system

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Businesses today continue to rapidly change in their needs, particularly, for what an Enterprise Resource Software (ERP) can do to help support their operations and finances. Postmodern ERP, as defined by Gartner is a technology strategy that links and integrates administrative and operational business capabilities with the benefits of vendor-delivered integration to promote flexibility and agility.  

Software Advice, an advisory firm that helps buyers research and choose ERP software, conducted research and sought expert advice to look into the concept of Postmodern ERP and how it affects businesses, with findings compiled in this article.

A comprehensive postmodern ERP strategy aims to use the best applications possible in each business area while still ensuring that the different areas adequately integrate with each other when necessary.

The study is quick to note that “a postmodern ERP system will likely be comprised of applications from two or more vendors, and may include multiple deployment models.” This strategy can benefit businesses by ensuring your company is using the applications which are best suited for each job function. Moreover, should specific applications need to be changed, there would be no need to customize or upgrade the whole system.

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The process of selecting an Enterprise Resource Planning (ERP) software is no easy task. With many factors to consider such as cost, vendors, business needs, and the vast software selection in the market, the task of choosing the right ERP software becomes all the more complex. Software Advice, an advisory firm that helps buyers research and choose ERP software, conducted research and sought expert advice to create a comprehensive guide to help buyers through the ERP selection process, with findings compiled in this e-book.

Research shows that 59% of buyers cite data integration as the top reason for purchasing a system, while a staggering 24% of users say their current system lacks adequate support. If you find yourself in the same boat as these buyers, it might be worth investing in a new ERP system.

Below are some tips to help in your ERP software selection process:

1. Assess your business needs and identify must-haves

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When selecting a new Enterprise Resource Planning (ERP) software, one of the first considerations to make is whether to go hosted (on the cloud) or on-premise. Although both types have their advantages and disadvantages, it’s worth taking a closer look and offering points of consideration to make the software selection process less daunting. Software Advice, an advisory firm that helps buyers select ERP software, conducted research to create a comprehensive guide to help buyers determine the best type of software needed for their organization, with findings compiled in this article.

The biggest difference between the two types of systems is cloud-based software is hosted on the vendor’s servers and accessed through a Web browser, while on-premise software is installed locally, on a company’s own computers and servers. Although over time, both systems’ cost tend to converge, cloud-based software is priced under a monthly or annual subscription basis, while on-premise software is usually priced under a one-time perpetual license fee.

Some advantages of cloud-based ERP software include its shorter implementation time, great stability with frequent updates from the vendor and no additional hardware investments. On the other hand, some disadvantages of this type of system are its less customizable functionalities and an organization’s possible less peace of mind that comes with data security being in the vendor’s hands.

On the other end of the spectrum, on-premise ERP systems are known to be more customizable and offer greater control over data. However, the implementation process can take longer and organizations have to pay associated hardware and IT costs. Organizations will find that cloud-based ERP systems are more mobile-friendly compared to their on-premise counterpart. 

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When selecting a new Enterprise Resource Planning (ERP) software, one of the first considerations to make is whether to go hosted (on the cloud) or on-premise. Although both types have their advantages and disadvantages, it’s worth taking a closer look and offering points of consideration to make the software selection process less daunting. Software Advice, an advisory firm that helps buyers select ERP software, conducted research to create a comprehensive guide to help buyers determine the best type of software needed for their organization, with findings compiled in this article.

The biggest difference between the two types of systems is cloud-based software is hosted on the vendor’s servers and accessed through a Web browser, while on-premise software is installed locally, on a company’s own computers and servers. Although over time, both systems’ cost tend to converge, cloud-based software is priced under a monthly or annual subscription basis, while on-premise software is usually priced under a one-time perpetual license fee.

Some advantages of cloud-based ERP software include its shorter implementation time, great stability with frequent updates from the vendor and no additional hardware investments. On the other hand, some disadvantages of this type of system are its less customizable functionalities and an organization’s possible less peace of mind that comes with data security being in the vendor’s hands.

On the other end of the spectrum, on-premise ERP systems are known to be more customizable and offer greater control over data. However, the implementation process can take longer and organizations have to pay associated hardware and IT costs. Organizations will find that cloud-based ERP systems are more mobile-friendly compared to their on-premise counterpart. 

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Contemplating the security of your company’s data or server backups may make you want to just keep your head in the clouds. When deciding between going hosted or on-premise for your ERP system, there is much to be considered. However, going hosted offers some crucial benefits that cannot be overlooked. Here are the top three reasons why switching to a hosted ERP system is worth the effort:

1. Security

Going hosted means that you no longer need to worry about the state and security of your data. Your hosting provider’s data center can ensure that data is consistently backed up. You can go about your day knowing that you’ll always have access to your data when you need it.

2. Technical Know-How

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Implementing Enterprise Resource Planning (ERP) software and projects are no easy tasks. With many moving parts and personnel involved in the mix, the process becomes all the more daunting. To help avoid common pitfalls and offer some considerations, Software Advice, a trusted resource and advisory firm for ERP software buyers, recently conducted an analysis of 22 failed implementation projects and looked into the most common reasons for failure in this e-book.

The e-book notes that ERP implementation failure can often be attributed when one or more of the following key goals are not met:

• On-time implementation
• On- or under-budget implementation costs
• Minimal disruption to business operations
• Improved organizational efficiency
• Reduced operating costs
• Increased sales or revenue

One main takeaway from these is that “ERP implementation rarely fails because of the software itself,” as only 18 percent of the failures included in the study were due to buggy software.

To avoid implementation failure, it’s best if the organization take the time to do due diligence and fully research the ERP system, have personnel, particularly consultants completely understand the client’s needs and have a trusted vendor give you a realistic view of the system’s capabilities.

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Purchasing ERP software is a major investment for any organization as it is one of the most important technologies used to manage business functions and processes.  For an organization to determine if they are optimizing their ERP software’s capabilities, taking an ERP Assessment will prove to be extremely useful.

An ERP Assessment is used to evaluate the capabilities of an organization’s current ERP system. A valuable ERP Assessment will help determine whether an organization’s team is equipped with the tools and information it needs to function effectively and find out whether or not the organization’s ERP system is meeting the business’s needs.

An ERP Assessment will look into different aspects of the organization, such as system integration, quality of received data, use of Microsoft Excel, budget, and dependence on paper forms and templates.

Understanding how an organization utilizes their ERP system will provide insight into possible opportunities, potential risks, and areas that require improvement.

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An Enterprise Resource Planning (ERP) system helps integrate processes which are essential to a business, including accounting, inventory, order management, human resources, and Customer Relationship Management (CRM). Today, an increasing number of both big and small to mid-sized organizations use ERP software to help streamline processes and information across the organization and integrate these functions into a single, complete system.

Software Advice, a trusted resource and advisory firm for software buyers recently conducted a study that analyzed the purchasing behaviour and implementation concerns of 250 prospective ERP software buyers. The study reveals that 54 percent of current ERP users are dissatisfied with their systems’ integration capabilities—this is one of the main reasons why many are seeking out a new ERP system.

ERP Implementation and Support

The study notes that 24 percent of buyers want to replace their current ERP software due to a lack of technical support. Forrest Burnson, the study’s main researcher, says, "It's critical for firms to carefully assess how capable they are in selecting and implementing a new ERP system. All too often there is a disconnect between a firm's expectations and what the vendor will actually provide in terms of implementation services and continued support. As ERP systems are significant investments, it is wise for prospective buyers to seek the help of a third party consulting firm if they're unable to do all of the due diligence in-house to ensure that the selection and implementation processes go smoothly.”

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Several systems are now being integrated with or migrated into the cloud. Discussions regarding media sharing, searching, and collaboration systems will normally note that such forms of systems are on the exterior of the core business of the company. Because of this, it becomes a great idea to move your ERP to the cloud.

Just like any other businesses, you also demand scalability, flexibility, and security. The cloud offers all of these necessities and, what's more, it is really affordable. So, if you still can’t make up your mind on whether you will move your ERP to the cloud or not, the following are the advantages that may help you make the right decision.

Small Initial Investment

Services are given on a pay-as-you-go, subscription basis. This only means that the implementation of the cloud-based ERP system could hugely lessen the initial capital amount of investing within the ERP system. A lot of vendors might also guarantee that they won’t increase costs once you go on with the utilization of the system even the term has already expired.

An Enterprise Resource Planning (ERP) Consultant is either a contract employee or an employee that’s part of a company that is hired to do either of the following: implement, upgrade or support an ERP system.

The main function of the ERP consultant is to help organizations move to ERP software. A successful ERP consultant is able to adjust to a client business process, to determine where ERP systems would be most useful.

ERP Consultants relevant fields of study are information technology, business information systems or management information systems. You have the option of letting a consultant help out with the full implementation of an ERP project, from matching your business requirements with the right software to managing change within the organization as a result of the software.

You know you have a good consultant when he/she is capable of communicating with users at all levels of the organization.

If you are looking for an ERP Consultant, contact WebSan Solutions Inc. we've got the experience and expertise you need to help lead you in the right direction. We ensure your new integrated ERP system will meet all your management, reporting, financial and accounting needs while also helping you to streamline processes and improve your overall business.