Saturday, September 22, 2018

Challenges of Accrual based Accounting in Telecom for Prepaid Services


Over the last few years, an increased number of ISP/D2H/TELECOM/IPTV companies, public sector, NGOs, and governments have moved to accrual-based accounting for better bookkeeping reporting. Having a collaborative scalable solution has become a necessity for most households and commercial entities thus making it possible for ISP/D2H/TELECOM/IPTV companies to smile all the way to the bank. As a result, most ISP/D2H/TELECOM/IPTV companies have fully embraced accrual-based accounting methodologies to operate efficiently. Many have adopted the culture of keeping balance sheets, cash flow statements and profit and loss account for enhanced efficiency, improved accountability and easy management of assets. Generally, accrual-based accounting provides more inclusive financial information for companies.

While accrual-based accounting works tremendously well for ISP/D2H/TELECOM/IPTV, this bookkeeping reporting has its own challenges for the companies.

Accrual accounting forms one of the two major types of accounting methods for businesses using IFRS compliance. Under the accrual accounting, businesses record revenues whenever the transaction occurs and not when the actual cash payment for the sale is received. Likewise, expenses are recorded and recognized in the period for which the related revenue is recognized; under matching principle.

Accrual accounting is particularly useful for companies that have to report inventory or have large accounts payable or accounts receivable. The financial impact of loans, credit accounts and prepaid services are considered more carefully under accrual accounting.

Typical challenges of accrual-based accounting for ISP/D2H/TELECOM/IPTV?

Complex & not easy to manage: One of the major challenges of accrual-based accounting for ISP/D2H/TELECOM/IPTV is that it can be a bit costly, complex and difficult to manage. Secondly, accrual basis accounting demands that transactions be recorded as they occur. Unfortunately, most invoices fail to coincide with the actual occurrences thus leading to guesswork and estimations on the part of the designated accrual accountant. Such uncertainties make it difficult for accrual basis accounting accountants as compared to cash basis accounting. For proper planning & budgeting, all the compiled financial information has to be accurate and right at all times which is not always the case with accrual-based accounting.

Easy Deception of financial statements: Apart from its complexity, accrual-based accounting can easily lead to accounting malpractices. Its inaccuracies and estimations have become a loophole for numerous rogue companies who capitalize on these weaknesses to camouflage their own financial reports mistakes and weak points. In simpler terms, this kind of accounting can be advantageous in so many ways yet can be easy to manipulate for fraudulent purposes. In fact, it is alleged that most ISP/D2H/TELECOM/IPTV companies end up with bloated Planning & Budgets due to an inaccurate accounting of expenses and revenues. Financial statement mistakes and confusions are inevitable in this type of accounting which is a big disadvantage for most ISP/D2H/TELECOM/IPTV companies.

High Switching Costs are involved: Moving from the traditional cash to accrual accounting involves high costs which can be a huge challenge for many companies. Switching from one form of accounting to another poses a big challenge for ISP/D2H/TELECOM/IPTV. In reality, most start-up, small and medium-sized companies experience cash-flow challenges at inception. Well, the majority of these ISP/D2H/TELECOM/IPTV businesses start by embracing the common cash-based accounting. As time goes by, the business is bound to expand making it extremely difficult for investors to monitor their cash flows effectively. In such situations, it is wise and appropriate to move from cash basis accounting to the more effective accrual-based accounting but at a cost of course.

Additionally, accrual basis accounting can be time-consuming during conversion and exposes many ISP/D2H/TELECOM/IPTV businesses to bankruptcy risks. Lastly; this type of accounting requires ISP/D2H/TELECOM/IPTV companies to pay huge income taxes even before they have actually collected their revenues fully.

Advantage Oracle Apps: Designed in part by professional accountants, the Oracle system is updated whenever there are changes in either government accounting requirements or the generally accepted accounting principles (GAAP). Since accrual accounting tends to ignore time and instead focuses on economic events, cash flow can be problematic, but the Oracle system can also help to create statements of cash flow through the Oracle Enterprise One General Accounting System.


Challenges in Maintaining Dual Book keeping


If a foundation or a NGO is asked a common challenge which consumes their enormous time, effort & resources and which they would like resolve it would be maintain book of accounts as per the international and domestic guidelines. Maintaining different account books keeping as per statuary Like 35AC/80G/FCRA others and complete tracking of the account items as per mentioned categories.

There are several other identified challenges in areas like Grant Management, Project Accounting, Vendor Management, Transparency, Expense Management, etc. Being project based organization, it mandatory desired to manage its various projects financial records. 

Grant it can be several natures like single donor multi grant or multi donor single grant. The organization receives funds from all over world; hence it is mandatory to be covered under FCRA. However, they have to also maintain books as per the local accounting guidelines. There could be typical requirement like separate maintaining the projects covered under FCRA from the projects which are not covered under FCRA.

Maintaining dual accounting is not only necessary from statutory point but lot of other attributes like project, resources, expense etc. We cannot ask a user to make dual entries also it is difficult and time taking to segment the books of account. Hence the system should be designed in a way that it should be able to maintain books as per dual accounting standards. Using Oracle EBS ERP any organization can be able to achieve the dual accounting as per defined standards.

Known organizations like Public Health Foundation of India (PHFI), Save the children, Oxfam, ActionAid, HelpAge etc. have taken advantage of the systems to automate processes and take benefits.

Oracle is an effective application to capture various projects task-wise along with their scheduled time lines, cost incurred on each project since its inception, tracking and controlling of cost on each task of the project, was in need to create accountability of project to the team delegated, was in need to create schedule for the bills to be raised during the course of the project, required billing on the basis of milestones identified with the donors, required Statement of Expenditure for each project to capture cost incurred since its inception, required donor wise reporting, required to assess the profitability project wise and period-wise of its operations in India.



Thursday, September 20, 2018

How Can NAVFarm Help Livestock Management

Livestock management is essential to keep the business going. Its growth will be dependent on how NAVFarm for the farming industry helps livestock management through;
well each aspect of livestock business is handled. As such, financial software come in handy. Of course, you will need to have experts do the heavy-lifting but it will come down to the software. The software of choice should make financial tracking possible and easy. Today, the software in question is NAVFarm. NAVFarm is a prominent financial tool and its functions are undeniable. Setting up


  • CASH FLOW MANAGEMENT: There are many transactions happening for this type of business. Some money will be allocated for equipment and maintenance, others will be directed to poultry, paying workers and so on. Keeping track of all these transactions is overwhelming. NAVFarm, therefore, comes in to make it bearable. Through integrating it to the financial institutions, reconciliation becomes easy and getting bank feeds helps in data entry. You spend fewer hours trying to figure out where and when a certain amount was spent.
  • REPORTING CAPABILITIES: Livestock management will have several assets and liabilities, incomes and expenses.  The different sectors like dairy and distribution will require to be analyzed critically. NAVFarm allows tracking of these activities. The data can then be used to make decisions geared towards improving the business.
  • LARGELY AIDS AUDITING AND BUSINESS REVIEW: One of the features to appreciate about NAVFarm is the ability to update data without interrupting the daily tasks. For monthly and yearly closings, the farmer will have complete data to be reviewed by their accountants. In addition, these data files will be used for reference as they are recorded for a specific period of time.
  • CLOUD BASED APPLICATION: The fact that this tool provides one with the ability to work online makes it more beneficial for livestock management. Anything is on the cloud. This means your farm's data is safe and accessible anytime and anywhere. The on Cloud feature cuts down expenses such as maintenance for on-site servers and upgrades. Moreover, the NAVFarm online has a backup system that livestock farmers will find helpful.
  • HELPING RUN A SMOOTH LIVESTOCK BUSINESS: Livestock keeping can be a pain, especially during processing payrolls. The filing deadline must be met and if not so, everything goes wrong, therefore, comes to the rescue. Working with third-party apps, one can do different tasks on the go from their mobiles. No later payments, late filing or even late data file transfers. What is done through mobile apps is in sync with NAVFarm online provided the apps are Intuit approved.


Basically, NAVFarm Livestock management will be taken to higher levels by integrating NAVFarm as your financial software. Tracking, reporting, cost-cutting, and auditing will be much easier with NAVFarm



Making Secondary Market Perform for You Responsibly


It is not a wonder that where the money is, is usually crowded. Even so, the secondary market is yet to reach those heights. Some may have missed this sector and others, well, have made a fortune. The secondary market is creating great opportunities to make large profits and is increasingly transforming into a lucrative business.

But before digging deeper, just what is a secondary market? It is where secondary retailers resell securities and other products. Basically, it is an aftermarket. The point of sales can be services, bonds or stocks. Now, being part of this market does not just happen. You have to take care of the logistics involved to benefit from the market.

So, to make the secondary market perform the right way, best practices have to be embraced. These practices will be guided by;

It is by knowing where the deal lies that you can make a secondary market perform for you. The distribution of items will dictate the possible outcomes. Not all merchandise deserves to be done with if they do not fly off the shelf as expected. Some of these items like the appliance parts are still viable for the secondary market. The opportunity to make a profit still stands as the initial retailer accounted for the surplus inventory loss.

The knowledge you have about what you are selling: How else do you find leads, initial customers, and markets for the products at hand? It is a mistake to enter the secondary market with products or services that you barely know. Being familiar with the product lets you remain within a profitable and reasonable selling price. You are able to know the purchase price and check for any defects. All this information makes you conduct business in the secondary market confidently leading to large profit margins.

The plan: It takes a lot to be successful in the secondary market. This is why you will need a plan, a practical plan for that matter. You will need to be patient and do thorough research on who your customers will be and your product outlet. You can also create virtual stores which will work well with the current technologies available.

That is, it! Every one of the above has to be in your mind for a responsible secondary market business. After the business picks up, do not be comfortable with the profits. Diversify and try out other products. Slowly but surely, your secondary market will grow to bring even larger profits. Analyzing this market, knowing where the deal is and having a plan is all you will need to perform responsibly.

Prudence we believe in effective utilization of the investments made on the ERP platform by extending its capabilities through usage of the latest technologies. Hence by creating the platform “NAVOne” we can help you to extend your supply chain to the retail users keeping seamless integration with common ERP like Oracle & Microsoft Dynamics. NAVOne application is useful for businesses into Primary and Secondary sales management.



Monday, September 17, 2018

Challenge of Managing Inventory for D2H Operators

The digitization era is finally here. People are getting used to the superiority of D2H technology as compared to the cable operators. The technology provides subscribers with direct signals to their TV through a receiver. This is awesome for the clients as the separate cable connections are done away with. However, it presents a set of challenges to the D2H operators especially in terms of inventory management. This, however, is not the end. The Oracle EBS provides a light at the end of the tunnel. The ERP system solves D2H operator problems for better business management.


INVESTMENT AND PROCUREMENT PROBLEMS
Keeping track of inventory investments for the operators is burdening. The investment of the equipment needed is also capital intensive.  The enterprise suite therefore gives operators power to control their procurement troubles for cost effectiveness. Oracle EBS helps the D2H operators to manage supplier risks and enforce certain policies in order to land the best suppliers for their inventory. It does not get easier than that.The operators are able to keep delivering their services with great inventory management thanks to the oracle enterprise suite.

CUSTOMER MANAGEMENT
D2H operators have a challenging task to keep their customers satisfied. They have to ensure the customers embrace D2H technology. This can be a challenge especially if the data collected is inaccurate.For this reason, the operators have to possess an inventory software integrated with customer relationship management tools. With oracle EBS, the CRM solution is readily available to assist such companies make decisions.The CRM will offersales, marketing and service information aimed atimproving D2H operators’technology and customer relations.

FORECASTING CHALLENGE
Such superior technology will keep changing. Improvements will be made to make it even better. One essential factor to ensure the changes are for the better is to have accurate forecasts. Analyzing the state of the market and what the future holds manages D2H operators’ inventory.This is challenging but the Oracle EBS takes care of it by providing insights through reports based on real time information. These insights come in handy in planning and budgeting of the company’s inventory.

RISK MANAGEMENT
D2H operators face great risks trying to provide what they promise to clients. These risks could lead to their downfall particularly if they affect the inventory management efforts. ERP systems such as the one Oracle provide helps regulate and avoid the risks. It has tools for monitoring and evaluating the risk indicators to improve businesses.

All in all, D2H operators should be always prepared to cope with any challenge coming their way. They can start by being part of the evolutionary Oracle EBS which has given businesses the power to make their services exceptional. This ERP system will turn all the negatives affecting inventory management into positives for better D2H delivery.

ORACLE INVENTORY MANAGEMENT CLOUD
Intelligent inventory management is crucial to the success of your company.  Effectively managing inventory balances, movement, and turnover impacts your bottom line, and a good inventory management strategy saves you time and money.  Oracle Inventory Management Cloud is a complete, modern materials management solution that can help you effectively manage the flow of goods across your business organizations.  Use this true cloud solution for clear, accurate, real-time inventory balance visibility, efficient warehouse organization, rapid material movement, improved efficiency and productivity, optimized transportation plans, and ultimately satisfied, returning customers.

Oracle Inventory Management Cloud is a broad suite of products that includes Inventory Cloud, Cost Management Cloud, Financial Orchestration Cloud and Supply Chain Orchestration Cloud. Together these solutions form a complete physical and financial materials management core of the supply chain supporting Ideate-to-Commercialize, Plan-to-Produce, Source-to-Settle, Order-to-Cash, and Plan-to-Maintain integrated business flows.


ART OF SIMPLIFYING PROJECT ACCOUNTING

Project Accounting refers to the facilitation & integration of vital tasks in the management of a project. The major difference between this kind of application for accounting and the common traditional accounting is that it solely focuses more on any given project’s transactions while maintaining categorize your accounting information. Oracle EBS is a leader in providing solutions for project based industry. Advantages of Project Accounting include easy tracking of time, resources & key tasks affiliated to any particular project, leads to a healthier project account financial statements and tracking. It works favorably in larger companies where efficiency is a must have requirement, for easy tracking of various transactions across numerous departments within a company.



Accounting is a key requirement regardless of the kind of business you operate. Failing to keep accurate accounting records can easily be the end of your business. Every successful business owner knows the essence of keeping track of their financial reports, project expenses, and collection of all payments among others effectively documents in one cloud.

What is the easiest ways of simplifying Project Accounting?

Stay Organized: Project Accounting becomes very easy when your system is well organized. Things become easier and better when you are able to keep track of your entire project expense receipts in a consistent manner in one spreadsheet within the operations. Unfortunately, most small-scale investors lack consistency in regard to tracking and sorting project milestones. The good news is that one can take full advantage of the Oracle Projectsto stay organized. One can easily take stock of all the receipts and archive them for future references. Being well-organized also means being able to keep accurate records/receipts of all donations or contributions made by your business and managing all reports efficiently.

Take Advantage of Proven Accounting Tools: It is essential to make good use of budgeting and analytical system to build an accurate invoicing system for your business in less timewith enterprise level and departmental level planning process. The advantage of planning and budgeting is that it has made it easy for businesses to keep their accounting records well organized, secure and easily accessible. For this to happen successfully, you must ensure that you choose the most appropriate business accounting software for your company. In addition, you should use modern accounting tools to build an effective payroll system as a way of simplifying project accounting.

Invest in high quality, secure and compliant Software: Investing in reliable and high standard software is highly recommendable for anyone looking for an effective way of simplifying project accounting. Don’t hesitate to splurge on secure and compliant software to safeguard your business data’s safety and security. Remember to protect your Project Accounting software and servers with 265-bit SSL encryption for maximum security to prevent intruders and hackers from accessing your systems.

Maintain up to date Current P&L Statements: Keeping well-updated profit and loss accounts is imperative as a way of gauging your project profitability. It basically makes it easy for you to keep track of your project account as well as monitor the health of your business effectively at any given time.

Use Modern business applications for bringing precision: Linear approach to modern day business is not just enough. Recipe of success also contributes the attribute of latest business tools which not only help in achieving a structured approach but also bring precision into business decisions. Solutions like Oracle Planning and Budgeting which is a derivative of Hyperion(renowned application), Taleo of Talent onboarding & performance evaluation, Netra grant management etc.

How Oracle can help you in maintaining books accurately: Typical organizations like Telecom (EPC Tower), Realty & Infrastructure, Development Sector (NGO) etc. are prime examples who are benefitted by such application. Mapping critical information Like into single accounting structure categorized into various segments is not an easy. Scenarios like maintaining single book for FCRA & Non FCRA or creating sub ledger for every project to categorize each and every transaction can be referred as common pain areas which can be easily managed by Oracle EBS projects.


Tuesday, September 4, 2018

How Microsoft Dynamics help to B2B Ecommerce Business

As we all know that B2B Market is growing the market share roughly 59% of retail businesses. As their business challenges applies to more than growing there revenues and sales. Some of major areas of concern identified as B2B business challenges, as well as some suggestions for understanding the requirement of a product which will beneficial for B2B Business.

For the Many B2B companies, it can be challenging to define ERP Requirements. This is especially true for B2B companies that may be running an older version ERP that may not have capability to handle the B2B business requirements.

Challenges of identify ERP for B2B eCommerce business
  • Business Complexity
  • No Single Source of Data
  • Define ERP Requirements for E-commerce
  • Inventory Management
  • Investment on Technology Solutions
  • Long Journey to improve their use of Data & Tool
  • Social Data
  • Ideal Client Profile
  • Market Intelligence
  • Relationship Intelligence
  • Past Schedule and Repeat Orders
  • Customer Royalty and retention
  • Marketing Challenges
  • Countering competitions
  • Improving internal process

Benefits of ERP to B2B Business
  • Easy to Integrate with CRM, Website or other portals.
  • Single Source of Data Finance, Sales, Purchase, Warehouse, Bank, wallets.
  • Work with existing process to manage order including credit control, pricing, Order tracking etc.
  • Easy to manage customer data and product Management
  • Cloud optimized Solution.
  • Manage & Track on Sales Leads
  • Real time update on Item Availability, Revenues, losses, Payments, Refunds
  • Real time reporting any time
  • Interlink finance with Sales, Purchase, warehouse, Vendor
  • Improved demand and supply planning
  • Reduce Costs and losses
  • Ability to track marketing and advertising expenses
  • Intercompany transaction handling
  • Customer-specific catalogues, prices and terms
  • Boost the Sales and Save the cost.
About the Author:
Kunj Bihari Agrawal is a senior functional consultant for Microsoft Dynamics Nav. Kunj has a rich experience of over 11 years in finance domain & India statutory in MSD NAV. He has a passion for exploring possibilities of easing the entire ERP migration for corporate and is currently working with various government and private focus groups in ironing out the creases & roadblocks for GST migration on various technology platforms. He can be reached at: kunj.agrawal@prudencesoftech.com


Friday, August 3, 2018

How to Create and Apply DFF ( Descriptive Flex Fields ) in Oracle Fusion Cloud

Oracle Fusion Application- OFA Is an ERP software application produced by Oracle Inc.
Oracle Fusion ERP is acquired in the market for his features and functionalities that is taken from Oracle EBS, Peoplesoft, JD Edwards and Siebel.

Oracle Fusion has been served as Cloud Based Software Application that includes Finance Management, Accounting, Project Management, Procurement, HCM.

With this Blog we can create and apply DFF on Oracle Fusion Invoice Page.
For Invoice Page, we can create and apply DFF at Header Level and at Line Level.
For Line Level DFF:
- Go to Setup and Maintenance
- Select your Implementation Project
- On Search panel, search for “Manage Descriptive Flexfields”



Then Search for “Payables” Module



On behalf of Search Result, you can see Invoice Header, Lines and so on, select the Name where you want to create the DFF. We are going to create DFF for Invoice Lines. Select and Edit “Invoice Line” from searched result.


Then Click on Add Global Segments.

Now mention your required field Name; Code and API Name will generate Automatically and click on Enabled check box.

Fill other details like Data Type, Table Column (Where the value will be store on AP_INVOICE_LINES_ALL table), Value Set.

Now mention Display Properties like
Prompt: With which name you want to see DFF on Line Page.
Display Type like Text Box, Drop-Down, Pop-UP LOV, Radio Button etc.
Display Size:  Size of the select type, you want to display on Invoice Page.

After Save and Close, you will be redirected on Edit Descriptive Flexfield page and you can see your DFF here.

If you want to add more DFF, follow the same instruction then Save and Close “Edit Descriptive Flexfield”.

Your DFF has been created Successfully, you can check the DFF now at Payables - Invoices - Invoice Lines - Details (at the end of each line).

- Prompt; we have used while creating the DFF.
- Textfiled and display size; we have used while creating the DFF.
- Description; we have used while creating the DFF.


For your queries, feel free to contact on below:
Nikhil Gupta - Technical Consultant
Prudence Technologies Pvt. Ltd.
nikhil@prudencesoftech.in
9716831785



Saturday, July 21, 2018

Helping traditional Retail chain for Automation through Software tools

Retail industry is growing very fast and it is ultimately competitive. Retailers experience a number of challenges every day. As such, it is essential to help retail chains for automation through software tools.  LS retail software is a complete management system that assists a business owner to manage the business form a single software platform. LS helps handle multi-channel operations in a business as different platforms cannot communicate efficiently leading to inconsistent data, uncontrolled costs and waste of time. Apparently, incorporating your business with LS, you will be in a position to meet all the challenges that arise from the multiple channels in use in your business presently, in future and beyond.


Microsoft Dynamics Navision helps you run your retail business operations to automate across sales management, replenishment of stock and managing the warehouse to maximize profits, increase efficiency and create an excellent client experience. Other benefits include tracking profitability. Usually, you benefit from enhanced business skills that lead to performance and increased profit margins. Fraud detection is also possible with Microsoft dynamic Nav for retail. There is better transaction tracking that makes it possible to detect abnormal purchases. Also, you have improved supplier analysis with correct reports on supply performance and delivery.

ERP systems for retail industry combines all software used throughput the business into a single system. The unified system incorporates all that you need in your business coming from one end to another. An ERP solution in retail is the easiest system to help manage your inventory information. Consequently, with a good ERP retail solution, you will get the best chance to relate with your clients as well develop the best customer relationship management in your business. As such, business proficiencies augment as the business benefits from daily control retail operations.


Barcode integration is an integral constituent of retail operations. Embracing barcode technology ensures that your inventory management as well as tracking is accurate. In fact, barcodes give better data. Usually, one barcode can be used for both stock and pricing selective information making it efficient to access information on both. Barcodes provide quick, reliable and a wider scope of applications.

Embracing an implementation partner for LS retail, is significant as it helps you to expand the business portfolio with certified products which creates new opportunities as well as becoming the go-to partner for loyal and prospect clients. Also, being a LS implementation partner helps you benefit from license discounts and high business margins.

In conclusion, automating retail industry through software tools is a significant part of today’s business. In fact, clients all over the world desire to access favorite brands, information as well as shop in a number of channels. As such, mobility is essential through automation of traditional retail chains worldwide.



Tuesday, July 17, 2018

How to schedule a job in Microsoft SQL Server

Microsoft SQL Server Management Studio, which is an integrated environment to manage a SQL Server infrastructure, provides us the feature to schedule a job in SQL. We can achieve the scheduling task through SQL Server Agent.

Let’s see how we can achieve our task through SQL Server Agent.

First, open your SQL Server Management Studio. As you open you will find the following screen.


Here you can see the Object Explorer tab which includes your Server Name. Expand it and you will find the various options (also called objects) in it like Database, Security, Server Objects, Replication, etc. The last option is SQL Server Agent and this is where we need to do our scheduling.


Click on the + sign in front of SQL Server Agent to expand it. See the above image. Right click on Jobs and then on New Job…  . A new window will appear as shown below.
SQL Server Agent - Jobs - New Job… 


Fill the General details like Name and Description.

Select Steps on left hand side of the window and then click New which is at the bottom.


The Steps window will open, enter the Step name. Next, in type, select Transact-SQL script (T-SQL), choose the database against which the query will run and write the query in the space provided for command.



Select on the schedules option on the left side of the window and click on New.


A new window will appear where we have to set the name, Frequency, time and Start date as per which the job will run.


Once set, click on OK and our scheduling process is completed. Now the schedule will run as per the date and time mentioned.

You can also see your job status from Job Activity Monitor

About Author
Kumar Ankit is a BI Consultant at Prudence Technology. He is B. Tech from Chandigarh Engineering College and has started his career with Prudence Technology. He own a technical blog as well named techanswersweb.wordpress.com (https://techanswersweb.wordpress.com/).
 He can also be reached at: kumar.ankit@prudencesoftech.in



Friday, July 13, 2018

Challenges in Digitization of traditional core sectors Example Farming, Dairy, Livestock Farming

Digitization entails procedures that aim at converting information into a computer-readable format. Usually, the information is well organized in bits. Consequently, analogue material sources are changed to numerical formats. Digitization is fundamental in data processing, storage as well as transmission to avoid omission or losing its quality. Digitization is a perfect way of preserving data in many sectors. However, digitization of traditional sectors such as farming, dairy, livestock, suffers major challenges such as poor internet connections, lack adequate support for integration and implementation of digital software among farmers.

Poultry software and its challenges
Poultry software or ERP for Poultry makes it possible to collect information in real time on poultry health and the same information reaches the manager instantly. In spite of the success associated with poultry software, very few modern poultry farmers embrace this kind of technology. In fact, few farms are in a position to collate and analyze data from their farm due to lack of sufficient time and knowledge including other obligations. Consequently, information that is fundamental to farmers; as it provides insight goes to waste.

Livestock management and its challenges
Livestock management software tools are significant in every livestock farm. These livestock management software tools impacts trans-formative changes. For instance embracing precision livestock farming(PLF). This is entails advances in sensors and data algorithms that shape animal performance including well tailored health and nutritional solutions. PLF is a paradigm shift towards commercialization for instance use of hi-tech tools such as robotic dairies where you use the information the dairy robots generate. Primarily, many users and even producers inadequately understand how to make use of the generated information. This is a major challenge.

Mobile application for farming and its challenges
In this era of civilization, the use of mobile and cloud-based apps is essential. In fact, mobile and cloud based applications help farmers to address any sustainability challenges as well as creating a financial value for all farms. It is primarily used in delivering information and enabling farmers make sound land management choices. Reuters Market Light (RML) is a good example of a mobile application for farming which utilizes. However, mobile application for farming faces challenges including cloud computing, integration of IT systems as well as limited inadequate education and low mobile phones proliferation among farmers especially in the rural areas.

Dairy management and its challenges
Dairy management faces a number of challenges. The farm inputs are expensive minimizing incorporation of mechanization in dairy farming. Another challenge is early detection of mastitis in dairy cows. Essentially, conducting milk conductivity errors helps detect and treat potential mastitis early in your herd. Mastitis is tested using a strip cup. Apparently, mastitis leads to low milk production.


In conclusion, the vast benefits of digitization of traditional core sectors aims at reducing transactional, transportation as well as product traceability, storage and pest and disease control, tracking, and for commercial benefits. Apparently, digitization of traditional core sectors heightens the overall farm performance. There are tools such as NAvfarm which helps farms in adopting digitalization of the farms.




Sunday, July 8, 2018

How to upload AR invoice using FBDI

Download FBDI for auto invoice:-

http://www.oracle.com/webfolder/technetwork/docs/fbdi-r11/fbdi/xlsm/AutoInvoiceImportTemplate.xlsm

Fill the data in Excel Template Format and don’t change the sequencing of the column.

Click on Generate CSV.

Save the file.

Go to Schedule process in Tools tab:

Search for process(Load Interface File for Import)

Upload Create ZIP file in the system:

Click On Submit:

Your request is running and you need to wait till it got status ”Succeeded”

Now run the process(Import Receivables Transactions Using AutoInvoice)

Enter your “Business unit” and your “Transaction Source” then click on submit

Report is running and wait till report is succeeded:

Two more requests  are running (Once they completed successfully, AR Invoice data will be
uploaded)


Noe:- You can get the status of data by getting the output of request (Import AutoInvoice: Execution Report)
You can also check error in the data by the spreadsheet:



ABOUT THE AUTHOR

PRAKHAR SAXENA is Oracle Fusion Technical Consultant with overall 2.5 years of Experience. He is B. Tech from Amity University and has started his career with Prudence Technology as a Graduate Trainee. He is part of Oracle COE. He can be reached at: prakhar.saxena@prudencesoftech.in


Wednesday, July 4, 2018

E-commerce Portal Integration with Microsoft Dynamics Nav

As we know market and businesses moving on the e-commerce portal which provide the direct customer interaction with companies. Electronic commerce, commonly known as E-commerce, is trading in products or services conducted through computer network such as internet. There are lots of leading companies which leading the Indian e-comm. market for example Amazon, Flipkart, Lime road, Snap deal, Wish etc. Those company have online shopping facilities where the customer can buy provided Goods & Services from e-commerce portal. There are six type of e-commerce in Market.  Those are:


  1. B2B (Business To Business)
  2. B2C ( Business To Customer)
  3. C2C (Consumer To Consumer)
  4. C2B (Consumer To Business)
  5. B2G (Business To Government)
  6. G2C (Government To Consumer)

Merchant Challenges in working with E-comm Portal:

  • Order Management
  • Inventory Management
  • Customer Management
  • Return Management
  • Sales V/s Collection Reconciliation
  • Payment Reconciliations
  • Data Punching
  • Data Accuracy

Top 5 Benefits of E-Commerce Integration with ERP:

  • Control the inventory and operational costs
  • Reduce data redundancy, human involvement and error
  • Boost the productivity
  • Enhanced control over business
  • Exceptional customer experience
  • Help in Decision Making and planning
  • Reduce the user dependency

ERP Solutions to handle above issues:
As all are aware about technology which growing day by day. E-commerce companies provide the merchant portal for getting all the above information where will be chance of human error in data transferring.  In way of solution is API (Application Programming Interface) integration with ERP System for Automate the Manual processes, API is a software inter-mediator that allows the two different application talk to each other. For example when you use an application on your mobile phone, the application connects to the Internet and sends data to a server. The server then retrieves that data, interprets it, performs the necessary actions and sends it back to your phone. The application then interprets that data and presents you with the information you wanted in a readable way. This is what an API is - all of this happens via API.

Microsoft Dynamics Nav have the option to integrate with E-commerce portal through Rest and SOAP API’s. The ERP integration with e-commerce portals has transferred the day-to-day business operations, altogether on a unique fast-track path, of many manufacturers. It has completely eliminated the scope of manual errors and reasons for sluggish progress. Along with relishing numerous benefits, ERP-integrated e-commerce businesses have discovered efficient and effective ways to outrun tough competition and deliver satisfactory customer services. If you too want to be successful with your online business and long to keep up with the increased online demand and supply, your e-commerce strategy should include integration to an ERP without a miss. And one such ERP is Microsoft Dynamics Nav. It gets seamlessly integrated with online stores.


About the Author:
Kunj Bihari Agrawal is a senior functional consultant for Microsoft Dynamics Nav. Kunj has a rich experience of over 11 years in finance domain & India statutory in MSD NAV. He has a passion for exploring possibilities of easing the entire ERP migration for corporate and is currently working with various government and private focus groups in ironing out the creases & roadblocks for GST migration on various technology platforms. He can be reached at: kunj.agrawal@prudencesoftech.com


Wednesday, June 27, 2018

Changing dimensions of modern day talent management: engagement VS employment

Talent management is significant for organization’s recruiting exercises in the job market.
HCM cloud has vast benefits while ensuring employees have the best experiences at the work place. Additionally, it helps use minimal time while hiring talent as it leverages employee referrals to generate talent, providing end-to-end recruitment as well as streamlining on-boarding of employees. HCM cloud leads to performance. It ensures continuous performance for an organization through communication about the goals, reviewing progress and training staffs to assume performance. Primarily, it is one of the ways to provide an advanced modern experience for your staff which is characterized by agility and it is also unique for your enterprise. As a result, you are in a position to maximize talents among employees and impact performance and engagement.

HCM software is created perceiving employees as assets (human capital). The HCM software is created to increase efficiency in an organization through accuracy in carrying out tasks and resolving issues timely. HCM also deals with records belonging to employees in the back office.  HCM software includes workforce planning, proficiency management, learning, performance management, hiring plan, compensation time among others. Usually, HCM software aims at improving the organization progressively.

HR process automation ensures that organizations day-to-day tasks are systematic. The HR team embraces major strategic goals and objectives of the organization. With HR process automation, reports are generated accurately and timely. Automating HR process provides accountability in managing the performance of workers and ensures streamlined flow of payroll processes. Also, it helps manage workforce in your organization as well as harmonize the hiring teams in your organization.

Social HR is incorporating social media in an organization to attract, involve and recruit job recruits. It is a strategy that is embraced in many organizations. One of the aspects that constitute social HR in an organization is recruiting. For instance, many companies utilize vacancy broadcasting to both passive and active candidates. Social HR is significant and basic in making use of modern technologies. Promoting relationships with recruits or candidates can be created through use of exemplary skill-sets after which managers assess levels of those skills. Referrals through the social networks are fundamental since employees that work for the particular organization can act as brand ambassadors and they may use social networks to search for task matches. Others elements of social HR include social on-boarding, social learning and collaboration.

Employee experience management is one of the constituents that influence the success of your business. It encompasses all interactions between the employees and the employer. For instance,  employer showing commitment towards the health and success of employees, providing best tools and efficient technologies and providing a good physical environment for employee to work. Employee experience management is based on making your employees happier and loyal always.

Microsoft business central talent management attracts the best talents for your business. Apparently, levels of proficiency are high and customer relationship management is a key component of all the operations in your organization. Consequently, good performance ensures customers come for more and high profit margins.

Oracle fusion HCM partner provides your organization with an effective solution that helps you to come up with faster and smart choices to run your business. Oracle fusion HCM partner also help you to gain insights on how to collaborate the financial teams for more efficiency.

Conclusively, embracing effective modern day talent management will see organizations through engaging employees at work besides employment for increased productivity and performance at work.


Thursday, January 18, 2018

How Poultry farms can take advantage of Cloud?

There are many benefits of doing the poultry business. These benefits range from the fact that they are easily available, and are healthier than red meat. They are also most preferred by many because they do not take long to cook. For these and many other reasons, poultry farming has a large scope in today and even larger in the future.


Are you a poultry farmer? Seeking to grow your business amid the many governance and compliance terms? The Cloud might be all you need to start investing in. You will need the backup of expert livestock management software. This will help you keep track and manage all your farm produce. Farm management software partners will ensure that you obtain a significant potential for your business.

Are you a poultry owner struggling with the tough regulatory compliance standards, or recording small or no profit margins? Then read ahead and understand why you need ERP for poultry to create wonders for you as a farm owner. These are some of the ways in which the ERP for poultry will be of help to your business.

Enhanced reporting
This will offer you stock management and help you to manage Inventory of birds. This way, you will be in a better position to manage your entire poultry farm. You will also be able to trace every single egg and chicken in your farm. Use the ERP for poultry to enhance your farm’s operational capabilities, as well as boost transparency in the reporting system.

Financial management
It is at this point that the contract growers Commission calculator comes in handy. In your poultry business, financial management and updated book-keeping is as important as it is to get a smooth flow of operations.

You will have balance sheets, accounts books and trial balances to make. This is not a lay man’s task especially if you have no experience in book keeping. Get the ERP for poultry, an automated financial solution that will manage your finances every minute. You will need to calculate the cost of production per bird or per egg. Make it easier by integrating your farm business with Cloud.

Handheld device integration
You too can grow your poultry farm and have it spread across large acres of land. You might also have different feeding units, warehouses and multiple locations.
How will you manage your employees single handedly? Don’t you wish to work with a cloud solution provider that does everything on your handheld device? Get an ERP for poultry management system and watch your business work for you.




Monday, January 15, 2018

Is a cloud application suitable for my organization?

Getting to a specific destination is a journey; you do not reach your goal overnight. A cloud journey should be fluid in that there is an opportunity to lower the costs, move fast, develop new skills and deliver more reliable global services to your customers.

Are you an enterprise who has not begun their journey? Consider introducing cloud journey into your environments. It is a chance to take advantage of what cloud has to offer. Additionally, it is a wise decision to modernize your financial and operational processes.

For every organization that is working on trending worldwide, it's apt to experience cloud applications such as Oracle cloud Fusion applications, Microsoft Dynamics 365 services to leverage their business in future. These cloud applications delight customers seeking for subscriptions, applications, and database services. All these are under the Oracle's or Microsoft’s expertise.

The best implementation partner for modernizing your business ought to possess particular qualities. Firstly, customer service mindset. Number one priority of a successful implementation partner is customer service. Customer’s happiness should be the core priority and thus any organization need to ensure actions are focused on customer’s best interests.

Secondly, experience trait. Have you had a conversation about your operations with someone who has no idea what you are describing? An implementation partner for cloud ought to assist you to achieve your objectives.

Thirdly, trust is one of the valuable commodities any enterprise can have with its partners. Having the confidence to trust your partner is crucial and developing a relationship with a firm that you can rely on for decades is priceless. Prior focusing on the next ERP solution to take your company to the next level, take time to focus on who to partner with for the implementation and beyond.

Best ERP on Cloud offers a complete advancement and well-proven solution for organizations irrespective of its size. The ultimate goal is to ensure the group thrives in the digital economy. Equally, it provides modernization as per the industry standards and modern practices.

Best ERP on a cloud is essential for midsize teams. ERP cloud helps these groups to have a sense of simplicity, enable growth as well as making them stand out. Additionally, the IT costs are lower.

Financial management system on a cloud is the most comprehensive, intermediate, and ascendable financial management solution that exists. With financial management cloud; you will be well informed and in control of your business.  Financial management systems on cloud offer broad support and complete management solutions for operations of companies globally.

Cash accounting on a cloud creates accounting for primary general ledger from different systems; that is truthful.  The truth trait helps enforce accounting policies to achieve a complete and timely understanding.

I can testify that it is exhilarating to partner with the best implementation partner for cloud over and over. If you are a market leader in any of the industries like retail, take time to focus while selecting your partner.  Consequently, they will assist with the transitions to updating your software. Grab the opportunity of working with the leading brand service provider. It is worth noting that your best implementation partner offers self-service business applications. As a result, it allows extension and creation of new services.

Conclusively, embracing cloud designs ensures the provision of modern technology that allows representatives to make more sales. Moreover, the managers get to know more, and the companies ultimately record growth. 


Thursday, January 11, 2018

How Data Analysis can help Poultry/livestock Farm owners

It is fascinating that we all live in an era of data. Both poultry and livestock farms are no exception, with data being available than before. Embracing technology in poultry and livestock environments, farmers have access to all the automatically collected data. The data is crucial to ensure reasonable production levels. Data analysis helps in the interpretation stage to offer insight into finding solutions to possible problems that a farmer may have. Usually, you save a lot of time and also make it easy to process and analyze data to predict if something is wrong.

Business Intelligence refers to the process of making sound business decisions using real-time data.  Having insights into your Microsoft Dynamics Navision with Business intelligence for poultry ERP gives an excellent content pack. Realistically, you savor numerous benefits, for instance, you are in a position to make an analysis of data from various sources as well as reduce complexity creating poultry reports. Additionally, with a Business Intelligence solution, you dwell on data to make a decision relying less on instincts and perception.

Calculation of critical ratios that are key performance indicators like food conversion or mortality ratios is crucial to farm owners. Often, feed expenses are the primary budget item on farms. FCR reflects the effectiveness of a feed strategy. You can calculate it over a set period, for instance, monthly, quarterly, annually or herd basis.

FCR=Feed intake divide by Average daily gain

Where feed intake and average daily gain are in kilograms or grams

Variables like average daily gain and mortality rates complement FCR to facilitate evaluation of profitability of a farm.

Software for poultry key ratio helps assess benchmark and monitor farm performance. Usually, the rate provides further interpretation and application on the farm. The farm owner also derives the strengths and weaknesses of the operations in use. As a result, software for poultry key ratio is a value-added tool to help create a quick analysis of all the performance on the farm. For instance, financial analysis performance which ensures you proffer significant reports for your clients. Equally, the software has made reporting a simple process. An example is current ratios that indicate the ability of the farm to meet its cash obligations due the next year.

Business Analytics for Microsoft Dynamics Navision beneficiaries has individual requirements like reports, Key performance indicators. They are on different metrics, for instance, sales, finance or production. Reporting tools for data analysis held within Microsoft Dynamics Navision ought to have a high-level overview of benefits. They include Jet reports that help format, filter and report design capabilities. With jet reports, there is complete visibility in that you access information from various business farm systems and databases simultaneously.

Conclusively, managing the farm business requires checking the performance of assets and potential areas of risk. As a result, embracing modernization makes it easy to run errands on the farm and fun too.


Monday, January 8, 2018

Are you ready for cloud journey?

Cloud technology is maturing and rapidly scaling. Most organizations have implemented successful multiple cloud solutions and initiatives. Many companies are changing their legacy infrastructure or deploying fresh cloud solutions. It can be daunting for your company to migrate to the cloud. Ensure that your company does not overlook the relevant governance related to cloud solutions. Seeking to take your company to this higher level? Is your company ready for this? Read on

Cloud ERP
ERP fusion cloud ERP is one of the cloud solutions you can find beneficial to your business. It offers your business a well integrated enterprise resource management solution. This ensures that all the operations of your company are well streamlined. In addition, your company will have the best there is in performance management and GRC (Governance, Risk and Compliance).

For many years now, businesses and individuals have been talking about tools like Oracle Fusion Cloud, Microsoft Dynamics 365. But how well do you understand the term and the business solutions provided under it? As such, how ready is your business?

Once your business migrates to cloud fusion ERP, you will access applications such as human capital management, governance, supply chain management, financial management among other solutions. Perhaps, these are some of the operations that your company needs to climb up the success ladder.

Best implementation partner for cloud
Your business is now ready for the cloud infrastructure. What you need is a partner or service provider to help actualize your dream. The market provides hundreds of consulting firms. However, most of them can be divided in three types: Tier-1, Tier-2, Tier-3. Tier-1 & Tier-2 are the most successful and most mentioned implementation partners. You can compare services and or costs and choose the one that best suits your business needs.

The consulting companies are premier cloud software and service companies will offer different cloud-based solutions ranging from strategy to operations, managed services and custom applications. They will offer the best ERP on cloud ensuring further growth of your enterprise.

Best Product on cloud
You have already heard about the countless cloud solutions in the market. However, you only want to choose the one that best suits your company. Reviews and referrals will be of great help with this.

Financial management system on cloud, for instance, will help manage income, assets and expenses in your business. Cost accounting on cloud on the other hand will help your company to plan, review, manage and conduct an analysis of inventory and manufacturing costs.

You also want to be part of the successful journey with cloud. Why not consult the cloud service provider near you, get connected and be part of the success story.