BAASS Insights Technology Blog

Where do you see your company in five years? Do you imagine it on the same track, selling the same products and services to the same customers competing against the same competitors? Or do you see a company that has progressed into that of a leader in your industry, whose inventory is full of new products and services to provide for new customers in new markets?

Tony Robbins once said, “success leaves clues”. Essentially, successful people learn from previously prosperous people for hints to work smarter and do better. In order to improve, one must learn from past mistakes and triumphs and incorporate these lessons into their current action plan.

Rapid growth for modern businesses brings a spectrum of unforeseen obstacles and complexities that can sneak into operating and financial systems, slowing productivity and workflow as a result.

How does your ecommerce integrate with your enterprise resource planning (ERP) system? At many companies the two function in separate silos, which creates a huge amount of missed opportunity.

In Sage 300, under Inventory Control / Setup / Account Sets - the second GL account in the list is for a Payables Clearing Account. 

Why do we need a payables clearing account in inventory? 

ERP or enterprise resource planning adds considerable value to manufacturing companies. With the click of a button, they can get access to instant, real-time reports on all facets of their business. From operations to warehouse management, the ERP system of today offers a view into the heart of the business, providing vital data for strategic planning and implementation.

Many companies that are on a calendar-year budgeting cycle find themselves facing December with trepidation. Reviewing the past year’s performance, anticipating needs, and building the next year’s budget are all part of the end-of-year cycle as predictable as a holiday party. To make your budget setting easier, you can use your ERP system for better planning and productivity.