As businesses grow, the need for being agile in business processes has become of importance. This need for being agile has caused many companies to embrace cloud-based business models as their IT infrastructure. This, in turn, has led to the rapid growth of the ERP market. With the ERP market rapidly growing, prospective buyers have more options to select from but with more options making a decision can be a very difficult task.
The rise of technology has changed processes for several industries, but have you considered what it has changed for your industry? Wholesale, distribution and retail businesses revolve around their customers. So, how does technology impacts the demands of customers?
Small businesses are at a higher risk of fraud than large companies due to lack of internal controls. According to the 2014 Report to the Nation on Occupational Fraud and Abuse (copyright 2014 by the Association of Certified Fraud Examiners, Inc.), the typical organization loses 5% of its annual revenue to employee fraud. The fraud cases studied in the ACFE 2014 Report showed that the fraudulent activities studied lasted an average of 18 months before being detected.
New Year, New Me” is a well known mantra in the American language. But what about “New Year, New Business?” Doesn’t sound very familiar, does it? Creating a new year’s resolution for your business can be just as rewarding as the new year’s resolution you set for yourself.
In this acronym-rich industry of ours there’s still one acronym that I hold above all others because its truth is undeniable: GIGO. For those of you who might not remember this one, it stands for “garbage in, garbage out” – and it describes what we all know too-well: the poorer the quality of the data in our ERP application, the less value we’re going to get out of it.
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