Blog - Page 33

Budgeting in Sage 300 a quick guide to Forecasting and Budget Planning

Budgeting is never just a one man show, even if it is managed by one person. Company information from disparate sources translates to collaboration, which should then also be a top priority characteristic in a planning solution. Typically, we’re used to back-and-forth e-mail conversations, complete with heavy spreadsheet attachments that someone has to bring together manually into one overarching budget. Luckily, this has changed as today’s premier tools securely offer platforms that allow multiple professions to add to a budget without having to manually piece together spreadsheets from your network server. Relatedly, security then becomes a necessary consideration, particularly with all the sensitive data involved. \[[sage 300 ERP](https://www.penieltech.com/Sage-300-erp-dealer-in-dubai.html)\] Let’s start with arguably the most popular: Microsoft Excel. Most businesses are still depending on Excel for manual budgeting processes. The program is basically embedded in the finance world’s DNA at this point, so it is familiar and easy, but it doesn’t have the security or a database that would allow for user friendly collaboration. Many problems can come up when manually linking spreadsheets for your consolidated budgets due to Excel’s static input templates. Additionally, Microsoft produces a software specifically for budgeting: Forecaster. Your name Your email Your Phone Product —Please choose an option—Cheque PrintingElate CRMElate ERPReal Estate Property ManagementTally PrimeQuickBooksSage Accounting SoftwareHRMS SoftwareCustom ERPAccounting SoftwareVAT Accounting SoftwareWeb DesignCorporates TaxERPNextOdooInventory ManagementWarehouse ManagementQuickBooks Invoicing SoftwareOtherDigital MarketingSEO Your message (optional) Δdocument.getElementById( "ak\_js\_34" ).setAttribute( "value", ( new Date() ).getTime() ); 2,000+ organizations have deployed Forecaster for their planning tasks, likely because of the strength of the Microsoft brand. The tool is in maintenance mode now, in terms of any further development, because it has reached its life cycle end. Forecaster is a proprietary interface, despite being a Microsoft product, that doesn’t work with or in Excel, so you have to learn a completely new set of features, functionality, and formatting. When it comes to ease of use, there might be more training dollars involved because of the potentially longer learning curve for users. Additionally, Forecaster might prove too simple to meet your modern budgeting demands, particular when you compare it to independent software vendor (ISV) offerings. Furthermore, it is well known that plenty of Forecaster users do some of their planning outside of Forecaster in manual spreadsheets, so they can perform their required calculations and layouts for processes like complex payroll or revenue budgets. References: [www.penieltech.com](https://www.penieltech.com/)

Sage 300

AlexSat Nov 30 2024

Financial Planning with Business Analytics in Sage 300

Because financial planning is all about reviewing actual and creating projections, typically involving salary information, security is necessary to protecting confidential data. You should be shopping around for a software that empowers professionals to access a financial plan without sharing information with the wrong people. With modern security in place, budget managers can distribute true ownership to contributors in the planning process without worrying, meaning that department supervisors can participate in budgeting that they will have to meet throughout the year. We’ll rely on ease of use, collaboration, and security to evaluate the following budgeting tools for [Sage 300](https://www.penieltech.com/Sage-300-erp-dealer-in-dubai.html) users: homegrown Excel planning, Microsoft Forecaster, IBM’s Cognos, Oracle’s Hyperion, and Solver’s BI360. Two established software selections are IBM’s Cognos and Oracle’s Hyperion. Both tools were quite successful and prevalent when they emerged on the market in the early 1990’s. Still popular, they are usually implemented by upper-market customers, which is where you can find a loyal following for both Oracle and IBM solutions. Considering their age, they are powerful, while complex, both due to their maturity, which means that they usually entail multiple internal resources particularly for managing models. Some Excel has been incorporated into both tools, in addition to web front end functionality for greatly distributed companies or those who prefer to avoid Excel. For the rest of us, these tools force us to acclimate to proprietary formulas and coding – and OLAP cubes that are proprietary as well (TM1 and Essbase) for budgeting and consolidation, data management, and rules. This complexity is simply the result of development for decades. However, both are part of complete Business Intelligence (BI) suites. A comprehensive suite of BI tools translates to just one team of sales, consulting, and support professionals, which is easy for you as the customer – and convenient if you’re able to incrementally put together your BI toolbox for [Sage 300](https://www.penieltech.com/Sage-300-erp-dealer-in-dubai.html). However, Cognos and Hyperion suites are typically expensive. And because these suites are made up of modules that were acquired by diverse vendors over the years, they’re less than “fully integrated” and typically come with distinct business logic and security functionality between modules, which can be problematic for end users. References: [www.penieltech.com](https://www.penieltech.com)

AdminSat Apr 19 2025

Quick Reasons why QuickBooks is leading in the accounting game

There’s no doubt about it, Excel spreadsheets have been an integral part of every business, and the major tool of everyone who kept ledgers of numbers. But let’s face it, we’ve all become lost somewhere in between several spreadsheets, unused minor errors that messed our calculations, been helpless without the formulae and shortcuts and, frankly, found the infinite cells unattractive. Then, there’s [QuickBooks](https://www.penieltech.com/quickbooks.html), which has been designed to ensure that anybody with zero accounting understanding can manage their accounts on their own. Here are Quick reasons why QuickBooks is ahead of Excel in the accounting game: ### **Unlike Excel, you don’t need to know accounting, short cuts or any formulae.** The thing is, Excel wasn’t made for accounting. It is a great tool to keep and manage records of any kind. However, keeping your accounts on Excel as you handle your business can be stressful, especially if you aren’t familiar with using Excel formulae. With QuickBooks, all you need to do is input a few details, and let the accounting take place automatically. ### **Unlike Excel, access your financial data anytime, and from anywhere.** Excel can be quite versatile, but its accessibility is another story. Imagine trying to add an expense to your spreadsheets on your way to the flight terminal. With QuickBooks, despite where you are, you have the choice to access your financial data at any time on a computer, laptop, mobile phone or tablet. ### **Unlike Excel, stay on the same page and collaborate better with your team.** Say you’ve got your 1st quarter’s accounts on spreadsheets. You share these with your Accountant. They modify them a little. Now, there are 2 copies. And what if your co-founder also has a spreadsheet they’ve been maintaining? It starts to get really complicated. With [QuickBooks on cloud](http://www.peniel-tech.com/quickbooks_software_uae.php), everyone gets to work on the same books, and giving access and tracking changes are a breeze. ### **Unlike Excel, create professional invoices and customize them.** Are you one of those businesses who stores a few invoice templates you like using? If you are, chances are high that you’ve wished your invoices could look professional. With QuickBooks, you can create an invoice and customize it with your brand logo and colors in a template of your choice, all in a few minutes. ### **Unlike Excel, track your invoices and get them paid on time.** When you send out an invoice on a project you just concluded, do you call your customer to notify them that you sent the invoice? Do you keep checking your bank account? We understand that getting paid on time is a wonderful thing and that’s why QuickBooks lets you see when your customer sees your invoice and when they pay you. ### **Unlike Excel, schedule recurring invoices to go out on time.** In your business, there surely are a few vendors or customers you bill at regular intervals. These invoices have to be sent on time for you to keep your money coming in on time. With QuickBooks, you can schedule those recurring invoices to go out at timely intervals, which your favorite spreadsheet templates won’t help you do. ### **Unlike Excel, bring in your bank transactions, and stay in control of your cash flow.** Remember the pain of entering expenses on Excel spreadsheets at the end of the week or the month? You must save bills, receipts and invoices, and manually enter every single detail without making a mistake. With [QuickBooks](https://www.emeraldsoftwares.com/quickbooks.php), you can connect to your bank account, download transactions, categorize them automatically into income and expenses and see your cash flow instantly. ### **Unlike Excel, visualize your business performance with in-built, customizable reports.** You might love the graphic reports of your business performance drafted on Excel, but that takes time and requires some Excel skills. Imagine if you get to see visual graphics of how your business is doing in an instant! That’s what QuickBooks does for you. It offers you a bunch of in-built reports that are customizable, so, you don’t need to make reports when you need them. References : [https://quickbooks.intuit.com](https://quickbooks.intuit.com) [https://www.penieltech.com/quickbooks.html](https://www.penieltech.com/quickbooks.html)

AdminSat Apr 19 2025

A Quick Update on the Accounting Strategies

_“ A satisfied customer is the best business strategy of all “_ A seed is sown so as to see it yield flowers ,good fruits and turn into a beautiful but beneficial tree. Likewise a business plan is laid; to see it grow , flourish or stabilize itself in the accounting industry. Just like a seed needs to be nurtured with plenty of care to turn into a beneficial tree, business for it’s growth also needs planning, analyzing, risking and perfect mastery to achieve satisfied customer , growth and revenue. Managing one’s business revenue is a key factor for successful business. Gone are the days when an account book was maintained to calculate daily profit and loss of business. [Accounting software](https://www.penieltech.com/) Dubai has paved it’s way in the commercial line and has impressively benefit the user’s Throughout every industry, working with projects involves managing several layers of challenges, as leaders must balance achieving goals while remaining within budget. Any given project will have multiple components and deliverable, but what connects them all is money. Tracking expenses and project parameters through project accounting will give you instant visibility of the entire undertaking, helping you make the best decisions to steer projects successfully. **Project Accounting and the wherabouts** It’s important to distinguish that general [corporate accounting](https://www.penieltech.com/) manages the overall expenses and revenue throughout the company. Depending on your industry, project accounting typically fits within a departmental budget for the purpose of managing customer engagements or internal initiatives. Project accounting focuses on the day-to-day finances and resources involved to accomplish a specific objective over a defined period of time. The financials and resources involved in project accounting can vary depending on the type of projects being conducted. For example, professional services rely on customer engagement projects, so part of the costs may involve things like time spent consulting and account set-up. Another example would be when a construction company takes on building a customer’s house; the materials and labor all play roles in the project’s [finances](https://en.wikipedia.org/wiki/Finance). There are also internal projects that companies orchestrate to reach organizational goals. An example of this would be when a company is attending a tradeshow – which may involve several projects geared towards preparing materials and messaging for the event. The costs of developing these materials will influence how the overall project is executed and whether it was a good investment. **Free Demo Available for All Products:** Your name Your email Your Phone Product —Please choose an option—Cheque PrintingElate CRMElate ERPReal Estate Property ManagementTally PrimeQuickBooksSage Accounting SoftwareHRMS SoftwareCustom ERPAccounting SoftwareVAT Accounting SoftwareWeb DesignCorporates TaxERPNextOdooInventory ManagementWarehouse ManagementQuickBooks Invoicing SoftwareOtherDigital MarketingSEO Your message (optional) Δdocument.getElementById( "ak\_js\_37" ).setAttribute( "value", ( new Date() ).getTime() ); Generally, the three main components of project accounting are time, materials, and labor. Without carefully considering how these components come together, you may stretch your finances too thin and/or not meet a desirable project fulfillment. It’s been estimated that about 33 percent of projects fail because teams exceed project budgets or miss the desired completion date. Most of the time, project failure occurs simply because leaders aren’t monitoring or capturing the time and costs of the project effectively. Using accounting as a defining variable in the management process will help you monitor workflow and costs simultaneously, while also identifying major threats. Project accounting lets you visualize the entire governance of the project to make the best decisions for cost and time. Because of this, you and your team will be more equipped to avoid other causes of project failure as well. References: [https://www.penieltech.com/](https://www.penieltech.com) [https://www.emeraldsoftwares.com/](https://www.emeraldsoftwares.com/) [http://www.penielcomputer.com/](http://www.penielcomputer.com/) [http://www.tallyerp9uae.com/](http://www.tallyerp9uae.com/)

AdminSat Apr 19 2025

ERP Application

Selecting an Enterprise Resource Planning [ERP] system

An Enterprise Resource Planning (ERP) system completes every part of a business. Chosen and implemented properly it can nurture growth or stability. If not done in the correct manner or poorly can result in wasted expense, opportunities and careers. So how do you pick the right ERP? Well the first thing to note is the software itself is but a part of an overall successful [ERP deployment](https://www.penieltech.com/Sage-300-erp-dealer-in-dubai.html). Stakeholders of successful IT projects recognize that people, more than technology, are often the deciding factor in determining success. Look at this quote from Michael Krigsman in Computerworld’s article the worst IT project disasters of 2013, “People mistakenly believe that IT failures are due to a technical problem or a software problem, and in fact it has its roots into the culture, how people work together, how they share knowledge, the politics of an organization. The worse the politics, the more likely the failure…” A positive take on this perennially challenge is explored in the blog People make your projects great or just good, it is all up to you, which arose after one of our customers asked the question “Tell me, what are the issues you most frequently encounter when upgrading an ERP site?” Notwithstanding that this question related to an upgrade, many of the insights ring true for a new ERP. Now let’s get a definition, before we continue too much further. What is an ERP? Enterprise Resource Planning software is used by organizations to capture, track and manage business critical data across all departments. These days, ERP is often synonymous with a financial system – since a modern finance system goes well beyond basic accounting. The traditional areas of ERP generally include one or more of the following areas: financials, distribution, HR, manufacturing, service management, and sales & marketing. Alternative sub-groups or specialized systems such as [CRM (customer relationship management)](https://www.penieltech.com/elate-crm.html) are often brought under the ERP umbrella. In this whitepaper, we will review many of the aspects associated with engaging a new ERP, recognizing that the technology is but one component. Whether the selecting a new or replacement ERP this whitepaper explores 5 core steps: Create a vision; devise a set of criteria; establish a budget, perform the selection; and commit to the process What does this mean in real terms? Well, here are some tangible examples which will help bring the diagram to life. **Increase access people have to data \[experience via accessibility\]** **Decrease the number steps in a process \[frequency via optimization\]** **Increase data integrity \[experience via accuracy\]** **Increase use of technology to give exposure to new markets \[money via innovation\]** **Decrease the raw material wastage by optimizing orders \[money via optimization\]** **Increase the ease of generating or lodging tax returns \[experience via compliance\]** As a first step, give some serious consideration to answer some of the big questions. For example, do you need an ERP to provide an innovative platform growth or is regulatory compliance more important? Do you want to focus on optimizing existing business processes or provide greater accessibility to reports for decision making? The answer may be all of the above and more. Having gained some insight, it is important to try and encapsulate this into a brief statement. Look at the following examples: Over the next five years, to expand our operation into SE Asia we need an ERP to unify our order and fulfillment process that will cater for the anticipated 50% growth in sales. An integrated financial and warehouse ERP means we can expand our operations without incurring significant labor costs and duplicating current inefficiencies. [Implementing an ERP](https://www.penieltech.com/elate-crm.html) will help us comply with new regulatory standards necessary to maintain our gold certification and compete competitively for government contracts. These examples go some way to showing what a vision statement for your ERP selection might look like. **Not: -** Two organizations with different visions or objectives may choose the same software application. The crux is not so much “what is the vision” or “which software” do I pick. The key is understanding what you want to do and why. Having a clear vision statement will lead to better decision making, better choices and better execution. [ERP Software Solutions Dubai, UAE](http://www.peniel-tech.com/penielerp.php) [Peniel ERP Dealer in Dubai, Abu Dhabi, Oman, Bahrain, UAE](http://www.tallyerp9uae.com/penielerp.html) [ERP Solution For All Types Of Business](http://www.penielcomputer.com/sage-pastel.html)

AdminSat Apr 19 2025

MANUFACTURING ERP SOFTWARE – WHY IT’S IMPORTANT - ELATE

[Elate ERP Module](https://www.penieltech.com/peniel-erp-software.html) **In the mid-2000, manufacturing was a leader by Industry with six consecutive quarters of growth. In fact, durable goods manufacturing grew 2.7 percent in last quarter of 2018.** With such a growth in this industry, manufacturers are seeing uplift in businesses, which means there is an extreme need for the organization of daily business processes that cannot be handled by one person or a small team of people. With a booming amount of growth in consecutive quarters, manufacturers should turn their attention to modern software designed to help the manufacturing industry, enterprise resource planning software, also known as [ERP](https://penieltech.com/). **HOW CAN ERP SYSTEMS HELP MANUFACTURERS WITH GROWTH?** Manufacturing ERP software solve a number of challenges and provide invaluable benefits to manufacturers seeking to reduce costs, manage growth, streamline processes, and gain a competitive advantage. So how does ERP help spur growth? In a word: Efficiency. Time critical information is stored and accessed in a central database allowing all departments to access and update data in real time. Tasks can be automated, reducing the time needed to pull data and communicate it across departments, ultimately leading to better productivity. [Enterprise resource planning software](https://www.penieltech.com/peniel-erp-software.html) integrates all areas of the manufacturing process so that every business function relies on a single database, including: **Materials and Inventory** Production and scheduling Operations and sales Accounting and finance Human resources, etc **MAIN BENEFITS OF MANUFACTURING [ERP SOFTWARE FOR MANUFACTURERS](https://www.penieltech.com/peniel-erp-software.html)** **Streamline Processes** As manufacturers grow, their operations become more and more complex. ERP manufacturing software automates all business operations, providing accurate, real-time information. ERP increases efficiency and productivity by helping users navigate complex processes, preventing data re-entry, and improving functions such as production, order completion and delivery. **Cost Reductions** With one source of accurate, real-time information, [ERP software](https://www.penieltech.com/peniel-erp-software.html) reduces administrative and operations costs. It allows manufacturers to proactively manage operations, prevents disruptions and delays, breaks up information logjams and helps users make decisions more quickly. **Flexibility** Modern ERP manufacturing software systems are robust, flexible and configurable. They are not a one-size-fits-all proposition but can be tailored around the unique needs of a business. ERP systems also have the ability to adapt with the ever-changing needs of a growing business. **Competition** ERP systems may require an investment, but there’s also a cost to doing nothing. Manufacturers cannot afford to put off an ERP implementation while their competition invests in ERP and begins reaping the benefits. #### Editors’ Recommendations: [ERP Software Solutions Dubai, UAE | ERP Applications Dubai](http://www.peniel-tech.com/penielerp.php) [Peniel ERP Dealer in Dubai, Abu Dhabi, Oman, Bahrain, UAE](http://www.tallyerp9uae.com/penielerp.html) [ERP Solution For All Types Of Business](http://www.penielcomputer.com/sage-pastel.html)

AdminSat Apr 19 2025

The Need for an ERP System in Today’s Changing World

**Since we have entered our new year, now is a good time to take stock of the business landscape and see what is happening in the world of ERP in the year ahead. Below are just a few of the top trends we see developing in the ERP industry for 2019.** **Merging Of the Legacy ERP Systems** We are all looking to do more, faster, and more efficiently. The drive to more with less is pervasive. This is especially true with [ERP software](https://www.penieltech.com/). Because ERP software impacts all areas of a business, companies want to be able to take advantage of the technological advances available to be as competitive as possible. ERP vendors understand this, and are putting more development resources into building new features and creating secure software, while at the same time, the support and development for legacy systems has dwindled. Understandably, ERP vendors are less likely to introduce new functionality or provide long-term support for older versions and legacy products. To continue to receive the support and software functionality they need, companies will find themselves forced to move off their legacy ERP systems.Business Need of [ERP Application](http://www.peniel-tech.com/penielerp.php). **Trying Hybrid ERP Option** While the advantages of using a cloud-based ERP are numerous, it remains true that a cloud-only strategy is not the best option for all companies. To serve those companies, many ERP partners, , offer hybrid ERP options giving companies the flexibility to add new cloud-based modules to an existing ERP. For example, if a company’s on premise ERP is working just fine, but they would like to add on additional functionality without having to purchase additional hardware, or scrap their existing system, they can now just plug a SaaS module on top of the existing ERP. This is becoming a more popular option for many companies, as it provides more flexibility, without breaking the bank. **Free Demo Available for All Products:** Your name Your email Your Phone Product —Please choose an option—Cheque PrintingElate CRMElate ERPReal Estate Property ManagementTally PrimeQuickBooksSage Accounting SoftwareHRMS SoftwareCustom ERPAccounting SoftwareVAT Accounting SoftwareWeb DesignCorporates TaxERPNextOdooInventory ManagementWarehouse ManagementQuickBooks Invoicing SoftwareOtherDigital MarketingSEO Your message (optional) Δdocument.getElementById( "ak\_js\_40" ).setAttribute( "value", ( new Date() ).getTime() ); Another “Hybrid ERP” option trending lately, is the concept of incremental ERP deployment. Rather than replace an [ERP](https://www.penieltech.com/Sage-300-erp-dealer-in-dubai.html) in its entirety, many large companies are choosing to deploy a SaaS ERP for a portion, or subsidiary of their company. This approach gives businesses the opportunity to monitor SaaS ERP performance to determine how it might fit into the existing on-premise ERP implementation, or whether it should replace on-premise ERP throughout the entire organization. It is sort of the test-drive option of the ERP world. **The Internet of Things with** ERP and the Internet of Things (IOT) has been in our lexicon and “trending” for quite some time. However, as more devices and software become connected to the internet, the more we will be hearing about ERP and IoT trending together. More connectivity means more data that will be automatically funneled into the ERP system. More data means better oversight into supply chain logistics and performance, inventory management, and resource allocation, to name just a few advantages for real-time data access. As the benefits of having this type of data readily accessible prove invaluable, companies that can, will invest in building out their ERP and IOT functionality. The ERP industry is constantly changing and adapting to meet the needs of its users. While the why of change stays consistent, the how does not. To stay abreast of the changes and trends happening in the ERP System and what you need to know to keep your company competitive, be sure to subscribe to our blog, and our newsletters; we will deliver these insights straight to your inbox. #### Editors’ Recommendations: [ERP Software Solutions Dubai, UAE | ERP Applications Dubai](http://www.peniel-tech.com/penielerp.php) [Peniel ERP Dealer in Dubai, Abu Dhabi, Oman, Bahrain, UAE](http://www.tallyerp9uae.com/penielerp.html) [ERP Solution For All Types Of Business](http://www.penielcomputer.com/sage-pastel.html)

AdminSat Apr 19 2025

Our Blogs - Page 33

Budgeting in Sage 300 a quick guide to Forecasting and Budget Planning

Sage 300

Financial Planning with Business Analytics in Sage 300

Accounting Softwares

Quick Reasons why QuickBooks is leading in the accounting game

Accounting Softwares

A Quick Update on the Accounting Strategies

ERP Application

Selecting an Enterprise Resource Planning [ERP] system

ERP Application

MANUFACTURING ERP SOFTWARE – WHY IT’S IMPORTANT - ELATE

ERP Application

The Need for an ERP System in Today’s Changing World