If you run a service based company, time is your inventory. Accurate tracking of employee time and material spent on a project is clutch when it comes to managing projects.
While it may be tempting to stick to spreadsheets to track time and expenses they are limited in their capabilities and more often than not lead to inefficiencies in tracking project statuses and budgets. Not to mention that they block your project managers from getting the real-time information they need to measure progress and make informed decisions.
Many companies that use time-based billing are beginning to turn to timetracking software for its enhanced time and project management capabilities. The right timekeeping system allows your company to track employee time and attendance to ensure your employees' time and talents are being utilized and you have the right workforce in place. It allows department heads and projects managers to clearly see the time and resources spent on tasks and projects. More accurate time tracking means you are less likely to miss billable hours when it comes time to invoice.
The project management capabilities within time tracking software help you keep up with project statuses and see how company time is distributed among clients, projects, tasks, and employees.
Are you using spreadsheets for project management? Download the white paper Using Spreadsheets for Project Management: Understanding the Hidden Costs to see how investing in a web-based project management solution could save you money, time, and aggravation.
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If you are planning to switch your accounting and ERP softwares, migrating data from your old software to the new software can present challenges if not done properly.
To avoid any data migration issues, a well-planned data conversion should include:
- Clean cutoff - In order to have a clean starting date in your new software system, you need to have a clean cutoff date in the old one. Don't enter anything in the old system that would be BEFORE the cutoff date. It's best if there is a way to "Close" the financial software as of that date.
- Run parallel- Run both of your software systems together until you're comfortable with the new software. While you're using both systems, pull reports and financial statements to make sure the data matches and you're getting the information you want from the new system.
- Don't rush. Even though it might be really tempting to switch over to the new software system, take your time. Bad data conversions are expensive. Lost data, errors, time delays, inefficiencies, and disruption of normal business operations all are potential hazards.
Migrating from one software to another is a big project that requires proper planning. A well planned and executed conversion will get your business running on its new accounting and ERP software systems without putting your company at risk.
Looking to switch software systems? See how Open Systems Inc makes it easy.
Download Making the Switch:Migration from OSAS to TRAVESE Version 11
*photo credit: Stepan Mazuroy
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If you have been around the DataCraft website lately or are on our mailing list (subscribe here) you've probably noticed some new information surrounding Intuit QuickBase software.
We are really excited about Intuit's CRM solution software and all the great functions and features it provides. QuickBase is a SaaS project management, CRM, sales management, and human resources software all rolled into one.
One thing that has a lot of people excited about QuickBase is the ability to share real-time information thanks to cloud computing. There's been a lot of buzz about cloud computing and the capabilities it offers, but there's also a lot of confusion about what it is.
What, exactly, is cloud computing? 
Cloud computing is a virtual network of services that can be accessed from your web browser. With cloud computing, your IT is managed in a secure off-site location which helps to manage the costs that tend to accumulate with operating on-premise software, such as licensing, installation, and ongoing maintenance.
The ability to pull up important information anywhere is changing the way departments collaborate and ultimately, how small and medium sized businesses are run.
*Photo credit: Mohamed Aouichi
Don't fall into the pit of making your ERP system software too complicated. Then you'll have to hire a team to use it effectively.
An ERP system software is primarily an integrated suite of modules and features that can encompass financial, production, services, human resources, payroll, time entry and CRM (customer relationship management). The software is dependent upon how your company work flow operates, how you would like to set it up and how it can be incorporated efficiently and effectively into the company's environment.
The modules your company purchases is dependent upon what is most important to the company's processes (this goes back to the beginning of our ERP blog series). 
Again, one word of advise as you continue the ERP research buying process ... Keep It Simple Stupid... the old KISS method still applies here. An ERP system too complicated can make your team's life miserable. Then what happens? Your team only uses 35% of the ERP system software you have, which is the national average.
Typically companies are examining a combination of financial management, manufacturing, project management, supply chain management, product life cycle, supplier relationship or customer relationship management (CRM) software ERP modules. Know what your team desires and understand the resources needed from the company (not just the vendor) in undertaking an implementation of any piece of the modular ERP software. There's a commitment required from the company and the vendor and the agreed upon combination equals success.
Industry Specific ERP software can be necessary. I spoke with a CFO from a large asphalt company the other day. They have two types of software they use -- bidding and order/job implementation. Due to the critical element of what can be missed in a bid for a highway or a bridge, there was an ROI (return on investment) for the bidding software they implemented and used habitually. On the other hand, if some customization is necessary, most softwares can handle that but beware that you own the code and that it is in a programmed language that can be integrated to other applications or services.
Next week .... cost!
Which ERP System is right for your business?
Sorry for the delay in continuing our ERP system software blog series. We've had many inquiries. Let's continue to the buyer stage and try to define "what type of buyer are you".
For ERP systems the buyer types have been defined on the basis of the following: scale and complexity of business; modularity; and industry verticals. What does all of that mean?
Scales and Complexity of Business:
Elementary buyers are looking for simple ERP systems to meet their uncomplicated requirements. Usually the company is a growing mid-sized business and most requirements can be met with an out-of-the box ERP system that has minimal customizations. There may be some basic integration requirements and the business has limited IT support.
Enterprise buyers are focused on business complexity, integration, scalability and globalization. These buyers tend to be mid-size to large enterprises with highly complex business processes. A high level of customization may be required for their niche requirements. Sometimes an in-house IT expert is required.
Modularity:
Suite buyers look for a complete ERP suite having all modules -- financial, production/business, and CRM (customer relationship management) to execute business processes across all departments. This type of buyer realizes the long-term strategic investment for the company.
Module buyers usually seek two or more ERP modules that can automate business processes for two or more departments but not the entire organization. This type of buyer is more price sensitive and is looking for short-term productivity gains. There may be significant integration with systems in other departments.
Industry Verticals:
Sector-specific buyers have industry-specific and specialized needs that cannot be met by generic solutions. The company may be governed by stringent regulations or compliance.
What type of buyer are you?
Next week -- ERP System Modules and Features
What ERP System is the right fit for your company?
For the small to medium size business, financial/production software, or ERP systems should not be made difficult. Some ERP systems (Enterprise Resource Planning) create complexity and duplication of effort. Really, it should not be that difficult. Who said an ERP system had to be complicated? People seem to think that an ERP system is unaffordable and hard to set up and implement. This shouldn't be the case.
Eight Warning Signs
- You can't get your data out. You know it's in there but you have to pay some programmer to build you a report to receive the data in some type of format that you can actually use.
- Upgrades are costly, time consuming and disruptive. If you haven't applied your software upgrade because you are afraid it will wipe out all of the customizations you paid for, then you are missing out on functionality and technology improvements that could help your business run more efficiently.
- Disaster recovery plan involves tape back ups. Back ups should be easy, not a headache and worrisome. Yet, we always hear the stories about how the back up never took place, we couldn't restore our data from the previous back up, and now we have lost over a weeks worth of data transactions. Ouch! With virtualization, there's no need for tape back ups any longer.
- Hardware costs increase every year. Can you say SaaS, Cloud, Virtualization ....
- High renewal fees. What's the ROI (return on investment)? Has it been worth it in the past? How can we lower these? Do we need that many users or applications?
- Can't access data easily when traveling. The system is too clunky or too costly to access remotely.
- Vendors or Customers cannot interact with the system. The is very important to grow your business and become more efficient.
- Costly training for new employees. Is the ERP system difficult to learn? It shouldn't be.
DataCraft implements user friendly ERP systems software. Give us a call. We can help.
P.S. Stay tune for three other blog series regarding ERP systems.
What ERP System is right for your business?
If you've ever wondered how to improve the performance of your accounting software to make it a little faster, a little more efficient, and a little more functional, there are four areas you should consider looking into.
Integrate modules
If your accounting modules are not "communicating", you may be missing out on some built-in efficiencies. For example, by integrating your accounts receivable and accounts payable modules with your bank reconciliation module, you will be able to quickly reconcile your bank statements each month.
Install or activate Crystal Reports
Crystal Reports is a report writer that comes bundled with many accounting packages. This powerful tool can help you write specialized reports using information from a variety of sources.
Customize data-entry screens
Many accounting packages allow data-entry screens to be customized for specific users. This type of tailoring can allow employees to enter data with minimal keystrokes or mouse clicks.
Run file maintenance periodically
File maintenance may be named differently in your accounting software. Other terminology may include "rebuild", "compact and repair", "re-index", or "synchronize". Whatever term your accounting software uses, the process of reorganizing your data files will increase the speed with which you are able to access them.
Are you getting the most out of your software workflow? Schedule a Business Clarity Session
In talking with growing businesses, we're finding a common issue of data reentry. If your employees enter and re-enter sales information in multiple software programs, it can slow the sales process and allows for data entry errors. But how can you streamline the work flow management?
Answer:
Procedures within the sales process may be fragmented in various ways, for example:
- Sales inquiries are received by e-mail, telephone and fax
- Inquiries are maintained on a spreadsheet
- Price quotes are calculated on another spreadsheet
- Follow-ups are maintained on yet another spreadsheet
Most accounting software can maintain and integrate several procedures within a single program. The software applications can generate lead follow-up letters, check inventory levels and automatically reorder, forecast potential product demand and allow customers to enter orders through your Web site.
Streamline your software system. Your business will save money, and your sales force will become more productive.
Find the right small business Enterprise Resource Planning ERP software system and accounting software for your business. Download the Software Selection Guide.
What does scalability in terms of accounting software mean?
No, we are not referring to a) mountains or b) a career track. In the accounting technology world, "scalability" refers to how much or in what ways a particular accounting software package can be expanded. Usually, the term means a product's ability to grow without causing undue disruption of the processes associated with its use. "Scaling up" refers to expanding the size of the system, the number of users who can access the system, or the amount of information the system can handle. "Scaling out", on the other hand, means to increase the number or types of functions the system will process.
Let us give you some examples.
Scaling Up
Consider a person who has decided to start a pack and send company. When the business first opens, sales, accounts receivable, checkbook reconciliation, and accounts payable can be handled with a simple accounting package on a single computer. Only the owner of the business probably accesses the accounting system. As the business grows, additional computers are added and networked so employees, in addition to the owner, can work in the accounting system. Accounting packages with the ability to "scale up" are important for businesses that plan to add users to the company's current accounting functions.
Scaling Out
As our pack and send business grows, our business owner has hired several employees and needs to process payroll on the accounting system. Also, recognizing an opportunity in the marketplace, the business expands to include production of a special packaging material. Now the accounting system needs to be able to "scale out" and increase the functions it can perform. In this case, payroll, inventory management, and job costing modules could be helpful.
Small, privately owned companies have long been the basis for business growth in the U.S. The Small Business Administration estimates that companies with fewer than 100 employees drive 80% of the U.S. economy. DataCraft, Inc. applauds your efforts.
Find the right small business Enterprise Resource Planning ERP software system and accounting software for your business. Download the Software Selection Guide.
Don't be confused when you hear QuickBooks and ERP system in the same sentence. QuickBooks Enterprise is not to be confused with QuickBooks Pro and Premier.
The QuickBooks Enterprise Solution has been an affordable solution for our customers this year. It really is a mini ERP system that supports financial, manufacturing, supply chain, professional services, inventory, funding, time entry, and many other work flow processes. It has been a great economical solution for our customers' pocket books. The renewal fees are low and the software is affordable. QBES Brochure_10.pdf
(You recall that last week we referred to the definition of an ERP solution. )
The Intuit Solution Provider Program has enabled DataCraft to help grow local small and mid-market businesses through the sale, implementation and service of Intuit solutions in the manufacturing, distribution, professional services and not-for-profit industry segments. The implementations helped the owners of company's examine their accounting services, business work flow for the software and payroll service outsourcing.
The mistake that is made with QuickBooks Enterprise (QBES) is that companies hire an individual/company that is capable of installing the software but does not have QBES application set up and implementation knowledge; or the company/individual are accountants who may have some knowledge of set up but are lacking in the experience to fully understand the work flow of the software. Be careful!
Since 2008, DataCraft Inc. has been an Intuit®Solution Provider serving the Northern Illinois and Southern Wisconsin area. Intuit Inc., the publisher of QuickBooks®, is the leading provider of business and financial management solutions for small and mid-sized businesses, consumers and accounting professionals.
Next week .... what is overlooked in most QuickBook Enterprise implementations?
Find the right small business Enterprise Resource Planning ERP software system and accounting software for your business. Download the Software Selection Guide.