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Become An Intelligent Enterprise

Posted on by Manikandan Adigopula

As a CFO of digital age for SME’s, what’s expected out of you in technology.

The Role of CFO in the past was more about improving the processes, internal controls, managing Infra etc. Converting your Organisation into an intelligent enterprise is very critical role of Today’s CFO.  To do that you have to constantly look out for changes in

There are a lot of cloud applications starting from 5 $ per month is available. These applications make your life easier cost effectively. Few of them for instances are below,

1. Proposify – Proposal Management – This a very nice tool that will give you analytics on your proposal to the customer. It will also let you know, if your customer is going through your proposal.

2. Wunderlist – Task Management –it’s a very nice mobile application to manage your to do’s. It also has a free version. If you have this integrated with your Inventory / Accounting / ERP, it will be very great advantage for your reminders.

3. Telegram – Instant Messaging Application – It is also a mobile application, through which you can share a message / Image to a group as a notification / alert. Its also a free application and comes with free API’s. It will be great tool to integrate with your ERP’s for notifications.

4. Repricer.com – Amazon Repricing Application. – It’s a very interesting tool, that we found out recently. You can automatically update the pricing in amazon.com for your products based on the competitor pricing and other parameters.

It’s very challenging as there are numerous products and each organisation might be using these applications differently. In current world, numerous Ecommerce platform like shopify, Magento, Prestashop are also available.

As a CFO you have to analyse which application is suitable to which processes and subscribe for it. One good thing about all these applications is having API’s and can be integrated with your ERP/ Accounting software. 

 Also, the challenges are how you integrate it with your ERP / accounting software to seamless automate your processes instead of someone manually triggering any of it.

At Avaniko, we have helped more than 50 Organisations innovatively turning them into an intelligent enterprise. Reach out to us know to learn more of how to turn your organisation int an intelligent one.

Right time to Invest in an ERP

Posted on by Keerthana

Do you know when is the right time to invest in an ERP? Read through to understand further:

The right time to invest in an ERP is when there is an economic slowdown or recession. Yes, you heard that right!! Still wondering, we will explain you the reason why a recession is the right time to invest in an ERP.

Economic slowdown is a phase wherein there is a general decline in economic activity irrespective of the sector. So, we have the following reason for you understand the importance of this slowdown & help you prepare your business for a full-fledged operation after the recession:

  • All organizations have employees with idle time during the economic slowdown phase and usage of this time to learn & implement a new system or align with new processes can be productive & rewarding in the long run. 
  • It is also the best time for the management to spend more time on improving the business by standardisation of processes.
  • An added advantage to this recession would be an extra discount from capital expenditure solution providers.
  • As it a slow phase, management team can take time to evaluate all the available solutions and choose the best for their usage.
  • Having an ERP implementation at a time of slow growth/small business also gives a competitive advantage down the line when business flourishes. For example, painting a new room in a house is much easier than painting existing rooms in a house as the painting in existing rooms requires disruption of daily activities whereas the new one is much easier. The same applies for ERP implementation as well, the more your business growth, the harder it is to implement which can also lead to expensive operational expenses compared to implementing when the business is still small scale or in slow phase.

To summarize, if you ask us when is the right time to invest in an ERP? We say ‘NOW’ is the perfect time. The sooner, the better when it comes to ERP implementations. If you are waiting for problems to arise and then prepare to handle them, it will be a chaos for your organization. Be prepared when your competitors are asleep so you can soar when it’s time for the real show ?

Modern CFO Role in Finance Leadership & Digital Transformation Avaniko ERP Insights

Posted on by Anand Krishnamoorthy

Chief financial officer or CFO holds, sees and analyses financial highlights on his table. Financial highlights include charts of total sales revenue and sales revenue breakdown by geography or region

The Role of CFO in the past was more about improving the processes, internal controls, managing Infra etc.

Converting your organisation into an intelligent enterprise is very critical role of today’s CFO. There are a lot of cloud applications starting from 5 $ per month available. These applications make your life easier cost effectively. Few of them for instances are below,

1. Proposify – Proposal Management

2. Wunderlist – Task Management

3. Telegram – Instant Messaging Application

4. Repricer- Amazon Repricing Application.

It’s very challenging as there are numerous products and each organisation might be using these applications differently. In current world, numerous Ecommerce platform like Shopify, Magento, Prestashop is also available.

As a CFO / CTO you have to analyse which application is suitable to which processes and subscribe for it. One good thing about all these applications are having API’s and can be integrated with your ERP/ Accounting software. 

 Also, the challenges are how you integrate it with your ERP / accounting software to seamlessly automate your processes instead of someone manually triggering any of it.

At Avaniko, we have helped more than 50 organisations innovatively, turning them into an intelligent enterprise. Reach out to us know to learn more of how to turn your organisation into an intelligent one.

Why Food Chains or QSR cannot grow with Tally

Posted on by Keerthana

Munich, Germany – October 24, 2017: The girl receives an order in the interior of the McDonald’s fast-food restaurant

Food chains or QSRs cannot grow with tally! This is a fact and, in this article, we will list the points below to understand why it is a proven fact:

Quick Service Restaurants, known as QSRs are the new trend in restaurant industry. Known or followed by the west, it is here in India to stay! There are plenty of QSRs today – from chai shop to pizza outlets, we have a variety of new ones opening every day.

These food chains use a front-end system for the order taking, but on the back-end they lack systems and are using tally for accounts, another third-party application for inventory etc. This brings a chaos to the operations where multiple applications are used & the very purpose of data accuracy is lost for accounting purpose which in turn leads to bad practices of business.

Things we can simplify for your business:

  • Accounting integrations with aggregators such as Swiggy & Zomato to calculate commissions deducted. This process can be automated to get accurate accounting information.
  • Supply chain requirements in stores can be handled systematically & hence ensuring there is no shortage or delay in the same due to a poor supply chain management.
  • Vendor payments can be controlled through the system, eliminating paper processes completely so vendor validation becomes much easier and accurate. For example, if you are purchasing ice & lemon from a local vendor for 40 stores, how do you ensure it has been provided for 40 and not 30? Validating vendors and controlling their payments is a key aspect of purchase control.
  • Store to store request can be made easier wherein you will have a consolidated and centralized database.
  • Excess inventory sharing – wherein the remaining items of a store can be sent through telegram (check our telegram integration article) to nearby stores for pick-up & usage without wastage.
  • Store expansion becomes painless as the system established a pre-defined process for the new stores.

Defining process, precise tracking of profits & budgets will definitely have a huge impact in your business as every sale, every purchase is a key to operating efficiently in QSRs.

Stay tuned for more articles on QSRs & to learn how SAP Business One will help you grow! ?

ERP For My Sales Team

Posted on by Keerthana

Do you know when it’s time for the Sales team to move to an ERP? Do you want to maximize your team’s productivity and monitor the sales process with a system?

If your answer is No to any two of the below questions – it is high time to consider evaluating the right ERP for your business:

  • You do not have an idea or estimate of the leads in pipeline?
  • Is every opportunity, regardless of small or big is captured into the system?
  • The count of every RFQ & Sales Order raised in place/available for review?
  • Estimation of conversion ratio (quote to order) is readily accessible for view?
  • Your sales head count is large and leads are less, any tool to access sales employees?
  • Does your sales team feel motivated or appreciated for extra efforts?

This article will help you understand your sales needs and evaluate the right ERP for you. First and foremost, understanding your sales process and betterment of the system is required to effectively monitor the status of leads are crucial.

Capturing Opportunities: As the famous saying goes, “Opportunity knocks the door only once”, so capturing every single opportunity coming your way is the first effective step in increasing sales of your business. If your sales team size is equal to, or more than 10 and each of them capture more than 10 leads a day, an ERP is required to monitor the opportunities. More the visibility, easier it is to have a hold on each lead and optimizing the approach to close the deals. An ERP helps in effectively capturing each lead into the system which can be viewed even at a later stage for reference.

Estimation of qualified leads: When each opportunity is captured, the depth of the lead can be analysed for closure such as warm, cold & hot respectively. If you are currently unable to understand the number of qualified leads, an ERP will be of utmost importance to implement.

Customer Relationship Management: CRM helps in identifying each customer relationship with the company so even if there is a change in employee, it does not affect the relationship of the customers. If frequent employee changes results to misunderstandings in customer handling, an ERP is required to resolve this issue.

Lost Opportunities: Any lost opportunity today can turn into a future prospect so capturing of lost opportunities for later follow ups turn fruitful in most sales closures. The lead once entered into the system, can be used for marketing purposes or data tracking to understand or correct mistakes if any required from the sales team. If your business does not have any access to the lost opportunities, how can one’s business improve without feedback, ERP will be handy in this situation.

Sales Team Motivation: Employee retention is a major aspect of any company and even more, increasing their productivity is an issue. To achieve this – an effective incentive program is required which in turn can be done only if we can track the sales team’s efforts and conversions. If you are not aware of your team’s strength, progress or achievement, an ERP will help you reward the best and replace the idle ones.Conversion Ratio: The most important challenge for any organization is to understand their business conversion ratio in order to improve the process. An ERP aids to analyse the conversion ratio of your team on the whole and individual performance as well, it helps to understand product’s market value and also the services offered to customers.

Hope this article can help you understand your business and the need of an ERP on the sales perspective. As famously said – “Sales is an outcome, not a goal. It’s a function of doing numerous things right, starting from the moment you target a potential prospect until you finalize the deal” ?

 

Transformation of Accounts Payables

Posted on by Anand Krishnamoorthy

All the fields of accounting are going through a major change. Just not that manual steps are eliminated, you can also notice that many actions process itself is eliminated. Initially its was all cash transactions, which was replaced by cheque transaction now its more and more online transactions. Automation is no longer is luxury is more of a necessity.

We have listed few points below through which you can transform your Accounts Payable process.

Application for your vendors Registration: – You can have your own webpage connected with your ERP / Accounting system for your vendors to submit all the details relevant for you to approve them to be a vendor.  There are also applications like Zoho creator / Google forms through which you are create couple of web pages and ask your vendors fill their data and then manually create the vendors in your system.  Zoho creator can also help you create a mobile application instantly.

Supplier Relationship Management Portals: There are various companies providing Supplier Relationship Management portals. With this you can also manage all the operations of your supplier right from the Purchase order till the payments. You can also create your own portal and integrate with your ERP if there are any custom requirements

Employee Expenses: Similarly, there are numerous mobile applications/ web application like concur, Field sense etc, to easily manage your employee expenses. Instead of asking your employees to send emails of their expenses, it’s a better way to manage your expenses. If you want it to be cost effective, you can also create a google form for your employees to submit their expenses. In case of mobile or web applications, you can directly integrate with your ERP / accounting applications. There also solution that can help your track your employee travelling distances and tracking.

Automated Invoice Processing :  With the introduction of Machine learning, more organisations are moving towards machine learning API’s to recognise and post Invoices in ERP Automatically. The below links are visit a worth.

https://rossum.ai/

https://www.uipath.com/


Also based on the requirements, we can read the PDF’s that are predetermined format to create the Accounting / documents in your ERP / accounting solutions. If you are processing, more than 1000’s of transactions in a month, its worth a try.

Tally Vs SAPBusinessOne

Posted on by Anand Krishnamoorthy

Tally is a software that began their journey as accounting software where SAP Business One is designed as an ERP from the beginning.

Both Tally and SAP offer several products and solutions, Tally is usually used by small to medium sized companies whereas SAP is used by medium to large size company in fact SAP’s market leading solutions are targeted towards large corporations. Tally can be termed as ERP software that offers very basic functionalities, while SAP offers sophisticated features of the ERP software in India including automations and integrations.

In India, big brands are using SAP as a model for their digital transformation. Corporations are always looking for SAP implementation partners in India.

“We have partners like SAP, Microsoft, PwC, Accenture have come together to look

at every single node of our value chain and make us future-ready, for Raymond 3.0,” Raymond’s CEO Sanjay Behl : Link

Avaniko being one of the leading SAP Business one partner, compares between SAP and Tally

FeaturesSAP B1Tally
Business SpecializationSAP B1 is available for all industry as there are specific addons for any verticals including construction, textiles, Retail and Manufacturing [Inner link to Avaniko Retail]It’s more of accounting package and if you have any specific industry requirements, you need to build for you, which will be tiresome and time consuming.
Future Ready / Intelligent EnterpriseBe it Machine learning, chatbot or block chain technology SAP’s technology is always ready to support growing needs of business, We at Avaniko can help you [Link to Contact Page]      Tally is unable to integrate or work with advanced technology 
Transaction VolumeSAP Business One Can handle millions of [business] transactions.Tally will be slow after couple of years of transactions and the data needs to divided into years to improve performance
SecuritySAP B1 has multiple layers of security including access of screens at the document levelSome level of security is available but can be easily breached
Workflow ManagementEasy and configurable workflow including approval and automatic emails on exceptions. SAP B1 comes with the global business practices bundled with it.All this will be based on requirements and will require customisation. More often, you as businessman will not be able to think what’s needed unless offered as bundle.
Integration CapabilitiesSAP for ecommerce/GST: SAP B1 comes with easy integration capabilities, that will be help you integrate with Ecommerce, Retail, Eway bill, GST & any third-party system as per your needs. It’s more like a configuration.This again needs to be built and more often tally users receives an excel from other system and massages in excel and import into Tally. Using Tally as a centralised master data system is not possible
MobilitySAP Business one comes with the standard mobile App for both IOS & Android for approval and ReportsTally is not ready for mobile
Ease of UseBased on the screen and data needed, the user’s needs to be trained and prepared. It requires some training for preparing the users after which SAP B1 can be user friendlyTally is very user friendly and requires very minimal training. Most of the companies also allows to edit data in tally and so its very suitable for micro businesses.
Geography  SAP B1’s is used globally used by 70 K Business worldwide and increasing demand for SAP B1 software in India and has covered all the requirements of businesses  Tally is more an accounting software with main focus on India and will need lot of customisation to support businesses
Inbuilt dashboards and BISAP Business one has inbuilt Business intelligence [Internal link to Avaniko BI Page Section] tools at user level for analyticsBusiness Intelligence is not possible in Tally
Single Platform for all ChannelsSAP Business One can act as single platform to manage Retail, Ecommerce and Wholesale Channels of businessWith the capabilities of Tally, it’s very difficult and will need a lot of manual uploads and downloads
InnovationsSAP B1 is connected with Telegram, WhatsApp, Google voice, Google Calendar etc.It will be a very challenging task with the existing architecture for the tally partners to support this innovation.
   

Avaniko finely coalesces technology along with business proceedings by building trustworthy ERP business systems on which enterprises can rely upon. We have invested ourselves in curating an innovation that matters. We can help you with your Tally migration to SAP Business processes or building a custom solution on SAP.

Note: Funnily, we also have SAP integrated with Tally for our unique customer requests ?

Contact us

How to Calculate ROI on ERP

Posted on by Keerthana

It is always very challenging to calculate the ROI for an ERP Investment. As an organisation, you always willing to invest sales generating activities than the in an ERP. ROI in Sales generation activities is clearly visible. 

ERP ROI will be in two forms. – Both Tangible and Intangibles.

Tangibles measurement.

1. Reduction in Inventory / Debtors: Usually after ERP, the improved process will lead to reduction of Working capital needs, if implemented properly. After six month you get visibility and all the interest in the reduced working capital is a saving to the company. Research studies indicate that there is reduction of  receivables & Inventory by 10 %  post ERP Implementation. For Example : Even if there is reduction of inventory by 50 Lakh Rs. You will be at least saving 5 Lakhs per Annum every year.

2. Stationary / Go Green : Nowadays with the latest technologies, we can save lot of paper printing including invoices to customers by sending whatsapp / emails etc., Interdeparment communication can be automated instead of printouts. For Example For a retail customer, who prints 600 invoices in multiple location per day, the paper saving cost can be worked out at 600* 30 days * 12 months. It will be atleast 1.5 Lakhs per Annum + All other print outs which can be saved.

3. Reduction in wastage / Rejections: It’s a regular pattern, after ERP the visibility of the operations. The Rejections can be attributed to functions and improvements can be implemented to reduce the rejections/ wastage. It’s a regular area of saving, that’s always expected out of an ERP implementations. For Example, if you can reduce rejections by 1 %, there will be lot of saving on the Raw material, labour etc. If we can rejections is reduced by even .5 %, the cost saving can be calculated at few lakhs or few crores based on your volume of operations.

4. Revenue leak Areas: The system can easily give you are report of Customers for who we have not charged or under charged, thereby you can easily start improving your revenue. For Example – You have not invoiced customers for their AMC or not invoiced for some time.

Intangibles

Productivity: Streamlined business process, will help your employees achieve more in less time.

Labour Costs: Automating certain process, will save number of people required. Your hiring of manpower need not be in proportionate with your revenue growth.

Customer Experience: With the introduction of mobile / SMS / Emails, there can be proactive updates to the customer thereby improving customer retention.

Improved Reporting: From the management perspective, their will be more visibility into the department functions and helps in improved decision Making.

Optimising the inventory in Digital Age.

Posted on by Manikandan Adigopula

 

Traditional approach of analysing the Aged inventory and giving discounts is not going to work anymore. This blog is more focussed about the sales than on the purchase / production of inventory

It about making your inventory available across various channels and liquidating the inventory smartly with the use of technology. By Channels, I mean Ecommerce, Retail & Wholesale.

Its not only about making inventory available in all channels but also about sharing the inventory across channels and making them available in the right channel.

Ecommerce:  Ecommerce presence is very essential, both in B2B or B2C business. You must have your products listed in Amazon, Flipkart etc., You should have own Ecommerce site and it’s very easy to have one today with the ecommerce platforms like shopify, Magento, Presta shop etc, these are cost effective and very impactful. You should have your inventory pool available in the ecommerce to ensure that you reach maximum potential.

Retail Operations: In Case of B2C operations, you should certainly have your stores to create visibility for your brands. Based on your target audience, you should select the right location for the store and make all the store operations. You should also have your non-moving inventory displayed at stores to liquidate the same. The Customers should also be given option to order from inventory in warehouse / other stores / Ecommerce website from a particular store.

Wholesale operations: It’s the regular and most standard way of business. In today world, you can also give customer’s their own portal like B2B site to place orders, make payment and manage their relationship with you.

The Best part is how you share the inventory between all the channels effectively. You should plan to share your inventory in the stores / warehouse to the Ecommerce websites. This way you are exposing the inventory to thousands on buyers online.

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