Tag Archives: IoT

A Data Management Guide for Midsize Companies

Use Appropriate Data Structures

A sizeable chunk of your data will be streaming in unstructured from diverse sources, and you’ll need a way to structure it for analytics as well as querying applications. As such, think about how you intend to use the data, and figure out a way to sort, tag, or classify it.
If you don’t have the necessary big data mining tools and AI analytics resources to extract, organize, and study massive amounts of unstructured enterprise data, consider engaging a provider who can help.

READ NOW: How High-Tech Companies Are Pioneering The Digital Economy

Connect to the Internet of Things (IoT)

You haven’t yet figured out everything there’s to know about how customers are using your product or service if you’re not leveraging the enterprise IoT. Connecting the technology to products enables companies to monitor, gather, filter, and scrutinize usage, performance, or platform data using AI or machine learning applications.
IoT data analytics can help an organization make mission-critical, operational, technology, or business decisions. The technology delivers big data that’s virtually impossible to track, collect, and analyse in real time using traditional techniques.

Build the Capacity to Process and Store Big Data

As your digital footprint expands, you’ll be generating or receiving massive chunks of enterprise data rapidly. Do you have the physical infrastructure required to store it in-house?
As a midsize business with potential for growth, you may prefer to invest in cloud storage. This way, you don’t have to spend heavily on redundant storage capacity. You can scale gradually in tandem with the rising volume of business data.
Cloud storage allows you to employ big data analytics while on the move, including using mobile devices. It enables your employees to make data-driven decisions on demand, regardless of their physical location.

Invest in Big Data Transmission and Processing Capacity

Be sure you have sufficient bandwidth to accommodate the rapid flow of massive chunks of enterprise data. The need to access and analyse some of the data in real time makes it paramount to deploy adequate network and processing capacities. Equally important, don’t forget to make technical provisions for any CPU-intensive big data-mining, AI, or ML applications.

Secure Your Enterprise Data

Some of the data you’re collecting or storing constitutes sensitive personal information or business secrets. You need to secure it in compliance with relevant local and international regulations. There are costly legal and financial ramifications for not complying with cybersecurity laws.
If you have business data in the cloud, be sure to figure out who between you and your provider is legally responsible for its protection at rest and in transit. Typically, encryption, multi-factor authentication, firewalls, and anti-malware are critical cybersecurity measures you need to have in place.

Summing it Up

Leveraging data analytics can help midsize businesses boost productivity, streamline workflows, and register incremental revenues. Fortunately, they don’t have to deploy costly on-premises infrastructure to do that.

Instead, the companies may partner with strategic cloud providers to help optimizing enterprise data management to drive business value.

For more information on how to leverage Big Data to grow your business call us on 1300 045 046 or email [email protected].

What Digital Transformation Means for Small and Midsize Manufacturers

#1 – Cloud Computing

According to an Oxford Economics study, 59-60% of small and midsize manufacturers plan on leveraging the cloud to host more forward-looking technologies, such as robotics and on-demand 3D printing. The companies need these technologies to stay relevant at all times.

For example, cloud-based Enterprise Resource Planning solutions are helping manufacturers automate specific back-office functions to increase their operational efficiency. ERP software integrates every aspect of manufacturing workflows such that all business functions rely on a centralized database.

The system provides a real-time, 360-degree-view of materials and supplies, human resources, scheduling, sales, customer relations, finance, and accounting. With timely access to accurate information, manufacturers can streamline production processes, improve customer service, and reduce costs.

Digitizing the supply chain enables manufacturing companies to automate mission-critical workflows. It’s helping decision-makers in the industry to identify resources that need deployment or adjustment to meet production objectives in time. Also, automating approval processes and reporting increases speed to market, giving manufacturers a competitive edge.

#2 – On-Demand Additive Manufacturing

On-demand 3D printing is the future of manufacturing. Indeed, additive manufacturing (AM) wouldn’t materialize without digital technology. It involves building physical, 3D products by adding successive layers of raw material. Typical applications include prototyping, industrial tooling, and the development of market-ready products like footwear and prosthetics.

Potential benefits of on-demand AM include:

Custom products: Through AM technology, manufacturers offer their customers a way to build highly personalized products.
On-demand availability: Products are available on-demand via 3D printers, enabling manufacturers to differentiate themselves by responding quickly to customer demand.
Lower shipping costs: Strategically-located 3D printers mean shorter delivery times and shipping distances. With cloud-based, on-demand AM technology, small and midsize manufacturers can reduce or eliminate the cost of sourcing parts overseas.

#3 – Big Data and Analytics

SMEs in the manufacturing industry are leveraging big data to extract in-depth insights into raw material usage and movement of finished parts through their system. Machine learning (ML) algorithms are helping these companies produce actionable business intelligence by analyzing data from disparate structured and unstructured sources. The resultant analytics may inform the development of high-quality products to drive revenue. It also helps streamline manufacturing processes to cut costs.

#4 – Internet of Things (IoT)

Manufacturers are using IoT technology to digitize key assets and workflows to streamline operations, grow business, and surpass customer expectations. They’re attaching digital sensors to physical production systems or assembly lines. These interconnected devices provide better visibility into the whole value chain, enabling manufacturers to extract system performance data, spot potential bottlenecks, and drive operational efficiency.

#5 – Mobile Technology

Mobile technology allows small and midsize manufacturers to grow and expand to new locations and markets without incurring extra infrastructure costs. Their employees can access company networks and cloud-based computing resources via the internet to work and collaborate from remote locations. As such, technology increases employees’ productivity.

Digital transformation enables small and midsize manufacturers to streamline and automate mission-critical processes, resulting in operational efficiency. It provides in-depth business intelligence to inform product development, hiring decisions, customer engagement, and supply chain strategies. These companies are leveraging an array of technologies, including the cloud, IoT, ML, robotics, and mobile solutions, to drive business growth and beat their competition.

Do you desire to adopt forward-looking digital technologies to achieve your business goals and keep pace with your manufacturing competitors? Contact us today for an expert evaluation of viable ERP and technology options!

How High-Tech Companies are Pioneering the Digital Economy

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Digital technology is transforming business and service delivery models at an astonishing rate. Businesses that fail to adapt quickly will miss out on immense opportunities to drive efficiency in the value chain.

The good news is that high-tech firms are doing the heavy lifting, so you don’t have to spend a lot of time and money in research and development. They’re leading the transformation of the digital economy by researching, incubating, and developing market-ready solutions that various industry verticals can adopt right away.

With their innovative and disruptive solutions, here are some of the possibilities tech leaders are opening for businesses.

#1 – Outcome-Based Business Models

For companies to maximize profits, they need to limit spending to only what’s necessary for their essential operations. Outcome-based business models enable them to save money by paying for results rather than equipment or systems. For example, you can leverage advanced computer systems in the cloud, such as e-commerce software, without having to own or maintain the necessary hardware or software.

In the healthcare industry, practitioners may subscribe to diagnostic services, such as MRI systems, where they only pay for usage (scans). The equipment or service provider incurs the cost of acquiring and operating it. Similarly, a compressed air customer may prefer paying for usage rather than buying and servicing air-compression systems or cylinders.

#2 – IoT-Powered Innovations

The Internet of Things is one of the most advanced technologies that companies can leverage to drive customer service and satisfaction. After attaching digital sensors to the equipment and systems they offer, manufacturers are accessing massive chunks of usage data in real-time. They’re monitoring user preferences and identifying product features that require modification or upgrading to address specific customer needs.

IoT is an enabler of outcome-based subscription models too. For example, the technology can track compressed air consumption so that the customer pays for the amount used only.

#3 – Streamlined Business Processes

Companies can now utilize advanced tech formulas to streamline business processes and drive revenue.

For example, a digital supply chain is visible to all relevant players and entities, from marketing, sales, product development, and manufacturing to finance, inventory, suppliers, and customers. It’s an integrated ecosystem that enables multiple companies and business units to collaborate, plan, analyze, and make critical decisions based on real-time intelligence.

With a digital supply chain, you can predict demand across channels and implement strategies to satisfy it. It provides the intelligence required to match financial and business planning with demand patterns. Available in the cloud, the technology provides full transparency into sales data, order fulfilment, stock levels, and supply chain bottlenecks, helping streamline stock management.

Companies can streamline their procurement processes with digital supply chains. The solutions provide real-time insights into global demand dynamics, enabling firms to respond quickly. They capture data, such as customs duty and exchange rates, letting companies incorporate logistics costs into their pricing strategies and order fulfilment.

Manufacturers may also boost their operational efficiencies by digitizing their production processes. They can leverage smart technology and connected devices to extract performance data, identify potential issues, and ensure continuity of operations. The tech fosters stronger collaborations between manufacturers and their suppliers and customers.

Likewise, digitizing business processes helps attain customer intimacy by delivering highly-tailored solutions. Advanced tech firms are providing the computing resources that enterprises need to analyze customer requirements and configure and price complete as-a-service products accordingly.

#4 – Digital Talent Management

High-tech talent management tools can help organizations improve workplace conditions and employees’ productivity. Available as SaaS solutions, the technologies include employee onboarding and training systems that facilitate on-demand or on-the-job learning. They’re built to appeal to the learning preferences of the millennial workforce. Instructional videos, gamification, and nuggets of information make for a captivating learning experience for the younger employees.

Some of these solutions have big-data analytics capabilities that employers may leverage to attract, develop, and retain top talent.

Top tech firms have already developed and tested the digital solutions required to improve your business processes and achieve operational efficiency. What you need to do to leverage cutting-edge technology and drive a profitable value chain could be as simple as just plug and play. Contact us today for in-depth insights into revolutionary tech products!

8 considerations to help your business choose the best ERP solution

#1 – Technology vs business benefits

You don’t implement Enterprise Resource Planning Solutions because they have great technology. You implement ERP Solutions because they offer real business benefits – improved cash flow, better customer satisfaction and staff retention – helping you run a better business. But, the world of ERP (and most other business improvement technologies) is rapidly changing and being influenced by technological improvements. Think of:

Cloud – Ignoring for a minute the financial implications of the cloud vs on-premise question consider the computing power that the Cloud gives you access to. Scaleable processing power at your fingertips – scale up and down with ease.
Mobility – A must-have in today’s world! Access your data, reports and fully functioning ERP solution anywhere, anytime via a web browser or apps.
Internet of Things – The connected world is here. The internet, cloud and other technical enhancements allow us to connect multiple devices and to share relevant information across platforms. Add into the mix Artificial Intelligence (AI) and you start to realize just how important technology is becoming when choosing an ERP solution. Think of a connected world where the warehouse is alerted of a late delivery when the truck that is scheduled to make the delivery has a technical issue or is in peak traffic. Your ERP solution is notified and an SMS or other notification is automatically sent to your company sales team and the customer. That’s how we use technology to improve customer service.
E-commerce – Trade seamlessly 24×7 with e-commerce and EDI integration.

#2 – Functionality of the solution

It goes without saying that the ERP solution you choose for your business must offer the core functionality you require to run your business and make improvements to business processes (quicker quote to cash timeframes, better information for decision making and advanced planning and budgeting tools).

When reviewing an ERP solution make sure you carefully evaluate all functional requirements – Finance, operations, Service, manufacturing, inventory and reporting. Ask a “functional head” to document and review requirements for each business function. As an example, an inventory manager might review the functional requirements for purchase planning, goods receipting, warehouse management, inventory reporting and stock movements. Create a checklist of requirements and manage that checklist with potential providers.

#3 – Big Data, Analytics and Business Intelligence capabilities

Big Data is becoming ever more important. In today’s connected world we are generating big data volumes. These data volumes are of no value unless we can sort and analyse data into meaningful information for decision making. A few considerations here include the following.

Data volumes are increasing – Choose a modern ERP solution that can cater to large data volumes from multiple sources – ERP, CRM, social media, e-commerce, customers and suppliers.
Analytics – These large data volumes need to be sorted, checked and reconciled. With data being made available from so many different sources it is critical that the analytical tools we use can check and reconcile data for accuracy before presenting the data.
Visualization – We retain the visual aspects of reporting. As a result, what we want is great visualization tools for reporting. Make sure that the reporting, KPI, BI tools that you use offer a variety of visualization opportunities.
Ease of use – This goes beyond simply being able to view and schedule reports. In today’s connected, mobile-first and fast-paced world we need the ability to write our own reports, dashboards, KPIs and data analytics. New age ERP Solutions cater to this requirement with pre-written data analytics and cubes to allow users to create their own reports. As an example, a sales data analytics layer will allow a sales manager to write his or her own report based on all the available fields available in the sales analytical layer. The ERP provider will have pre-written the analytical layer with all of the typical data that you would require to write a sales report – items, customers, sales order details, credit notes, sales volumes and pricing. This allows the sales manager (writing the report) to pick the data they want and simply drag the required fields into the report. Simple report writing without requiring technical knowledge.

#4 – ERP vendor

Make sure you choose an ERP solution from one of the top ERP providers. With technology moving quickly you will want the backing of an ERP vendor that has the investment in R&D, people, technology and processes to take you on a journey to success. The pressure on smaller ERP providers is increasing as technology advancements gather pace. When it comes to ERP vendors only the fittest will survive.

#5 – ERP reseller / partner

Choosing the right ERP product for your business is half the solution. A critically important decision is the ERP reseller (partner organization) that will implement the solution for you!

A great ERP solution is worth nothing unless you have a partner organization to help you implement the solution. Requirements include system scope, system configuration, user training, user acceptance testing, data conversion, go-live support, and all-important post-go-live support. Your relationship with the implementation partner should be more than a supplier relationship – your ERP implementation partner will be working closely with all team members, across your business, and will have access to sensitive company data. Your investment in ERP is likely to be substantial and project success is critical – make sure you choose the right partner. Some tips and tricks when it comes to ERP implementation partner selection:

Culture – Make sure the culture of the implementation partner is similar to yours.
People – Interview the consultancy and project management team that will be working on your implementation. This will give you an opportunity to get a better understanding of each team member, their previous experience and expertise.
Experience – In similar industries and the implementation of ERP for similar customers is important.
Agreement – Make sure you have a fair but comprehensive agreement in place to manage the implementation process.

#7 – Cloud vs On-Premise

No specific answer here. Do your homework and make a decision that is right for your business. There are multiple advantages to the Cloud but, it’s not for everyone. Consider the following when deciding between cloud and on-premise:

Current infrastructure – At a time when your infrastructure is nearing the end of its useful lifespan and has been fully depreciated is always a good time to consider the cloud.

IT Resource – Your companies access to good, internal, IT resource will have an influence on your cloud vs on-premise decision. If you don’t have internal IT resource then, you are more likely to move to the cloud to outsource infrastructure requirements,

investment – Cash flow and investment requirements are quite different for cloud vs on-premise. On-premise requires a much higher upfront investment.

Scale – Cloud allows you to scale up and down (users, processing power, and functionality) easier than On-premise and therefore lends itself to businesses that are more exposed to fluctuations in user count and business conditions.

#8 – Budget

Unfortunately budget always has an influence on ERP implementations and product selection. There is no point in reviewing and selecting an ERP product that is well beyond the budget that your business has allocated to get the job done. At the same time, ERP Solutions is not the sort of investment that you want to “cut corners” with. Make sure you have the appropriate budget allocated to your ERP implementation.

7 Things You Should Be Looking For In A Modern ERP Solution

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Disruptive technologies that were once seen as “ideas” are today a reality for many businesses.

Given the advancement of these new technologies over the last few years, if we look at how Enterprise Resource Planning has evolved, one thing is clear – the ERP world has changed!

Cloud, Mobility, Artificial Intelligence (AI) and the Internet of Things (IoT) to name a few. What impact is this having on ERP and how do you make sure that you take advantage of these technology shifts when the time comes to implement or choose an ERP software for your business?

Here is a short video on what to look for in modern ERP software.

Riding the wave of innovation in ERP

Firstly, a technology that doesn’t translate into meaningful change and associated advantages for your business is absolutely pointless!

You need to make sure that Cloud, Mobility and AI have a positive impact on your ERP solution by providing real business benefits.

Assuming we are in agreement that these technical changes will lead to business benefits and should be taken into account when choosing an ERP, let’s focus our attention on what we should be looking for in a modern ERP software.

Fit for purpose. Let’s start by making sure that we choose an ERP solution that is a good fit for the business. This requires an analysis of multiple components:

Budget – can you afford the solution?
Does the solution that you are planning to implement offer the required functionality to help run your business better?
Make sure you cover all functional requirements (financial, operational, manufacturing, CRM) during a scoping exercise.

Internal muscle. Do you have the internal muscle to implement ERP? If you want to learn more about why you need “internal muscle” to implement and maintain an ERP solution, check this blog post.
Web-based technology. Sounds obvious and it is! Your Cloud-Based ERP solution should have web client technology to allow access from anywhere, anytime via any device.
Mobility. Apps and web client access are critical to give the user a consistent user experience across any device. You should be able to log in via mobility apps or the web from your phone, tablet or pc.
Support. It goes without saying that you will require an ERP partner that offers great support. Without a strong support partner, you might encounter challenges for your day-to-day ERP users and long-term ERP optimisation strategy.
Upgrades. Upgrades should be included as part of your cloud solution. If you are not going with a cloud solution, then find out more about future upgrades. Things like frequency, costs and potential disruption to your day-to-day operations should be taken into account. Technology is moving at a more rapid pace than ever before so make sure that your ERP provider can offer technology enhancements to give your business the competitive edge that you are seeking.
Cloud. The team at Leverage Technologies has written several blogs on the subject of Cloud ERP vs On-Premise ERP. There is no right or wrong answer except to say that more and more companies are moving their ERP solutions to the cloud for all the reasons we know about – lower costs, scalability and access to computing power to provide a more agile environment. Ultimately leading to an easier deployment and maintenance of your ERP system.

Conclusion

New technology shifts are making it easier to do business and are providing a competitive edge for organisations that embrace change.

Current technology trends that will provide a competitive advantage include Mobility, Cloud, Artificial Intelligence, IoT and Big Data analytics.

Make sure you are positioned to take advantage of these technologies by having a modern, technology-ready, ERP platform.

Modern ERP solutions can help you run a better business. Invest in the right ERP solution and take advantage of a world of new technology that will provide your business with real day-to-day benefits and strategic, long-term opportunities.

For more information or to learn how modern Cloud ERP can help your business grow, call 1300 045 046 or email [email protected].