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AI in ERP: Reporting and Analytics

Posted on by Will Zane

Effective reporting within a growing business is indispensable for maintaining a clear overview of its operations, financial health, and strategic direction. It provides the foundation for informed decision-making, enabling leaders to identify trends, measure performance against objectives, and pinpoint areas requiring intervention or opportunity for expansion.

Incorporating Artificial Intelligence (AI) into Enterprise Resource Planning (ERP) systems presents an extraordinary opportunity for savvy business owners to gain a competitive edge in their industry. 

Two transformative AI-driven enhancements in reporting—Predictive Analytics and Natural Language Processing (NLP)—stand out for their potential to drastically improve strategic decision-making and operational efficiency for business owners and their staff.

Predictive Analytics for Strategic Decision-Making

At the heart of AI-enhanced ERP systems lies the power of predictive analytics. This technology goes beyond traditional reporting—it sifts through mountains of historical data to uncover patterns, predict future trends, and provide actionable insights.

For small and growing businesses, this means the ability to forecast market demands, identify potential supply chain disruptions before they occur, and anticipate consumer behavior changes with a degree of accuracy previously unattainable. 

Predictive analytics transforms raw data into a strategic asset, enabling these businesses to make informed decisions that are proactive rather than reactive. By leveraging AI to analyze reports and historical data, companies can plan with foresight, adjusting their strategies to seize opportunities and mitigate risks ahead of time. 

This level of strategic planning and insight can be a game-changer for small businesses looking to compete and grow in fast-paced markets.

The transformation is not just limited to those with deep technical expertise either—it extends to business owners and other stakeholders who are experts in their craft, not necessarily complex technical analysis. Making advanced data-driven insights accessible and actionable for all businesses is one of the significant benefits that AI has to offer.

Let’s delve deeper into how predictive analytics can be applied, with examples and insights that underscore its value for companies of any size.

Enhanced Demand Forecasting

Predictive analytics can significantly improve demand forecasting by analyzing historical sales data, market trends, customer behavior, and even external factors like economic indicators or long-range weather patterns. For instance, a small retail business can use predictive analytics to anticipate seasonal fluctuations in demand for certain products, allowing for optimized stock levels that prevent both overstocking and stockouts. This level of precision in inventory management directly translates to cost savings and improved customer satisfaction.

Let’s take a look at a hypothetical example scenario:

A mid-sized retail clothing store chain aims to optimize its inventory for the upcoming spring season. Historically, demand prediction has been challenging due to changing fashion trends, unpredictable weather patterns, and varying customer preferences across locations.

The store integrates predictive analytics into its ERP system, leveraging historical sales data, seasonal trends, regional preferences from its various locations, and external factors such as economic indicators and weather forecasts.

Result:

  • Pre-Implementation: Prior to using predictive analytics, the chain experienced a 20% overstock of unsold seasonal items and a 15% understock of high-demand items, leading to lost sales and increased storage costs.
  • Post-Implementation: With predictive analytics, the store achieves a more accurate demand forecast, reducing overstock by 10% and understock by 12%. This optimization leads to an estimated 8% increase in sales due to better availability of high-demand items and a 5% reduction in costs associated with inventory storage and markdowns.

Customer Behavior Prediction

Understanding and anticipating customer behavior can give businesses a competitive edge. Predictive analytics allows companies to analyze purchase histories, online behavior, and customer feedback to identify trends and predict future buying behaviors. This enables businesses to tailor marketing strategies, personalize customer experiences, and develop products or services that meet evolving needs. For a non-technical business owners, this means being able to strategically focus resources on high-value opportunities and customer engagement initiatives.

Let’s take a look at a hypothetical example scenario:

An emerging e-commerce platform, focused on eco-friendly home products, aims to enhance its marketing strategies and product offerings by better understanding and anticipating its customers’ purchasing behaviors. Despite a growing customer base, the company struggles to personalize marketing efforts and optimize its product mix to meet diverse customer preferences.

The company integrates AI-driven predictive analytics into its ERP system to analyze detailed customer data, including past purchase history, browsing patterns on the website, responses to previous marketing campaigns, and social media engagement metrics. The system is trained to identify patterns and predict future purchasing behaviors, segment customers into distinct groups based on their preferences and likelihood to purchase certain types of products.

Result:

  • Pre-Implementation: The company’s marketing campaigns were generic, leading to a modest conversion rate of 2% and a customer retention rate of 30%.
  • Post-Implementation: Leveraging predictive analytics, the company crafts personalized marketing messages and recommends products that align with individual customer preferences, significantly enhancing customer engagement. This strategic approach results in a conversion rate increase to 4% and boosts the customer retention rate to 45%.

Leveraging NLP for Enhanced Reporting

Complementing predictive analytics, Natural Language Processing (NLP) revolutionizes how businesses interact with their ERP systems. NLP allows users to generate reports and extract insights using natural language queries, making advanced data analysis accessible to non-technical stakeholders. 

For example, this means that a marketing manager can simply ask the ERP system, “What were our best-selling products last quarter?” and receive an immediate, comprehensible answer, not another torrent of raw data that needs to be dissected and parsed by your company’s staff mathematicians. NLP helps data be accessible to anyone. 

This capability not only democratizes data access within the organization but also significantly speeds up the decision-making process. For small and growing businesses, where agility and swift responses to market changes are crucial, the ability to quickly generate and understand complex reports without needing specialized data analysis skills can dramatically enhance operational efficiency and strategic planning.

Accessibility and Usability

One of the greatest advantages of predictive analytics in today’s ERP systems is its increasing accessibility to non-technical users. Advanced analytics tools are now designed with user-friendly interfaces, dashboards, and visualization tools, making it easier to interpret complex data and apply insights to strategic decisions. Moreover, with the advent of AI-driven assistants and natural language processing capabilities, users can query their ERP systems in plain language to obtain forecasts and insights, further democratizing access to powerful predictive analytics.

Let’s take a look at a hypothetical example scenario:

A non-technical business owner of a small but growing online specialty food store wants to understand customer buying patterns to stock inventory more effectively and plan marketing campaigns.

The business owner uses an ERP system enhanced with AI and natural language processing (NLP) capabilities. This system allows the non-tech savvy operator to ask complex analytical questions in plain language, such as, “What were the top-selling products last quarter?” or “Predict the demand for product X in the next three months.”

Result:

  • Pre-Implementation: The owner had to rely on manual analyses or wait for insights from data analysts, often leading to delayed decisions and missed opportunities.
  • Post-Implementation: The owner can now directly interact with the ERP system, receiving instant analytics and forecasts. This immediate access to insights enables quicker strategic decisions, such as adjusting inventory levels in real-time or launching targeted marketing campaigns ahead of predicted demand spikes.

Wrapping Up

In the digital age where data is king, the integration of AI into ERP systems marks a paradigm shift for businesses of all sizes. Predictive analytics and NLP are not just buzzwords but powerful tools that transform data into a strategic ally.

As we’ve seen through various scenarios, these technologies empower business owners—regardless of their technical prowess—to harness complex data for informed decision-making, ultimately fostering a culture of proactive strategy and refined operational acumen. This technological empowerment is the cornerstone of modern business intelligence, leveling the playing field and enabling smaller enterprises to compete with industry giants.

As businesses continue to evolve in this dynamic data-driven landscape, those who embrace AI’s transformative potential within their ERP systems will undoubtedly lead the way in innovation, customer satisfaction, and market growth.

(Fun fact: you guessed it, the cover photo for this blog post is also AI generated!)

AI in ERP: How AI Can Transform The Way Businesses Use ERP Systems

Posted on by Will Zane

Introduction

Welcome to the frontier of business transformation, where Artificial Intelligence (AI) within Enterprise Resource Planning (ERP) systems is not just an innovation—it’s a revolution.

Before we dive deeper, let’s define some key terms:

  • Artificial Intelligence (AI): Technology that enables a machine to simulate human behavior at much faster speeds.
  • Enterprise Resource Planning (ERP): Software systems that manage and integrate the core processes of a business.

We invite you on a journey to explore how AI technologies are reshaping the landscape of ERP software, turning traditional business management processes into engines of advanced efficiency and decision-making prowess.

What if your business systems could not only react to the past but predict and plan for the future? Automating tasks, anticipating needs, making operations smoother and more intuitive— this is all possible thanks to AI’s ability to analyze vast amounts of data with unparalleled precision. 

This 7-part blog series embarks on a comprehensive journey into the symbiotic relationship between AI and ERP, illuminating how AI technologies are not just augmenting ERP systems but are becoming integral to their evolution.

This series will dive into how AI can help your business:

  • Enhance reporting and analytics capabilities
  • Use financial data to better understand insights, trends, and risks
  • Stay organized and efficient while employees work across the globe
  • Create better and more personalized messaging aimed at prospects and customers
  • Analyze your competitors’ strategies to stay ahead of the competition
  • Explore how augmented reality systems will be able to compliment ERP systems

AI and ERP In The World Today

Right now, small business leaders are starting to find success incorporating AI technologies into their business management strategies. According to a study conducted by Forbes, 91% of businesses that have implemented AI have seen an increase in their success.

Furthermore, According to IDC, by leveraging AI in ERP systems, businesses can expect to reduce operational costs by up to 30% by the end of 2024. This is not just improvement—it’s transformation.

While many businesses that have incorporated AI tools have seen success, it’s not a given that small and medium sized business owners are always going to incorporate cutting edge technologies.

In a 2022 BPC and Public First poll, 74% of small business owners believed digital skills were important to their business. However, only 21% of that group were early adopters of new technology, and only 52% planned on making investments in digital tools over the next year.

And while business owners commonly welcome ERP solutions into their organization—the global ERP market is expected to top $78 billion by 2026—few have yet to use AI to harness the full potential of the data that these systems wield.

The integration of various forms of AI into ERP systems marks a pivotal shift from static, historical data analysis to dynamic, predictive insights. AI empowers ERP systems to learn from past trends, enabling businesses to forecast future outcomes with remarkable accuracy.

Here are a few real-world success stories of how businesses can benefit from an ERP system that harnesses AI to get the most out of their data:

Mitsubishi Electric

One compelling example of AI’s impact in ERP comes from Mitsubishi Electric. They created a new artificial intelligence technology that can assess the effectiveness of manual tasks on production floors in a matter of minutes. This is achieved without the need for operators to set up training data for the AI in advance, by utilizing a probabilistic generative model, which estimates the tasks’ outcomes based on probable scenarios. Multiple tests have shown that this new generative AI technology can reduce Mitsubishi’s work analysis training time by 99%. 99%!

AmerisourceBergen

This US pharmaceutical distributor leveraged an AI-powered ERP system to automate production cost analysis, utilizing historical transaction data, external datasets like weather conditions, and predictive algorithms.

The outcome was a significant reduction in the time spent on pricing tasks (from 5 hours to 1 hour) and an increase in time allocated to value-added activities. This strategic pricing optimization led to over $500 million in incremental revenue annually​.

Walmart

An early adopter of AI-enhanced ERP technology, Walmart has been utilizing in-memory computing alongside AI for handling over 1 million transactions per hour. The retailer has achieved a 10-15% improvement in in-stock availability, a 15-20% reduction in supply chain costs, and a 20-25% increase in inventory turnover. The use of AI provides Walmart with near real-time data insights, enabling better visibility across its extensive retail operations​

While these case studies showcase the impact AI in ERP has had on larger companies, these examples underscore a broader principle: AI’s capacity to revolutionize processes isn’t confined to multinational conglomerates. Businesses of any size can harness similar AI tools because ERP software isn’t something exclusively reserved for Fortune 500 companies anymore.

Looking Ahead

Imagine a world where your ERP system doesn’t just respond to your commands but anticipates your needs, where predictive analytics and intelligent automation turn complex data into actionable insights, and strategic decisions are not just informed but foresighted. From optimizing supply chains in real-time to personalizing customer experiences and automating financial forecasts, the AI-enhanced ERP system is not just a tool but a game-changer.

Whether you’re a C-level executive striving to lead your organization into a new era, an IT professional tasked with implementing cutting-edge solutions, or a business analyst keen on decoding the future of business efficiency, these guides are your gateway to the next frontier in enterprise technology.

This is the dawn of a new era in business technology, where AI and ERP together pave the way for unprecedented efficiency and strategic advantage.

(Fun fact: the cover photo for this blog post is AI generated!)

Boost Online Visibility with SEO Strategies for ERP Websites

Posted on by Scarlett Finley

Whether you’re a fledgling ERP startup or a seasoned enterprise, the race to claim the throne at the top of search results is as relentless as it is universal. Landing on page one isn’t just a vanity play; it’s a direct line to more eyeballs, more leads, and, yes, more of that elusive green we all chase, i.e., money. But how do you shimmy your way to the top of search results, especially when every Tom, Dick, and Harriet with a URL is after the same slice of online pie?

The secret lies in mastering the art of Search Engine Optimization (SEO). So, if you’re ready to charm those picky search engine bots and push your ERP website’s online presence from the depths of obscurity to the dazzling spotlight of page one, buckle up. In this article, we’ll unveil some potent SEO strategies tailored specifically for ERP websites. 

#1: Optimize ERP Website Content

It’s not enough to have your ERP solutions page packed to the brim with every buzzword known to the tech world. To truly maximize online visibility, the content-related SEO strategies for ERP websites need to be as nuanced as the algorithms they aim to impress. Here’s how to sharpen your content to cut through the noise:

Incorporate Semantically Related Keywords

Expand your SEO vocabulary beyond the primary keywords by weaving in semantically related keywords that provide context to search engines without deviating from your article’s intent. Use tools like LSI Graph or SEMrush’s Keyword Magic Tool to discover the constellation of keywords that orbit your main topic, ensuring that your content is not only relevant but resonant.

Prioritize Comprehensive Coverage

Your content should be the definitive guide to whatever topic you’re tackling, from the basics of ERP implementation to the latest trends in ERP software. This isn’t about padding your word count but about creating a resource so comprehensive that visitors won’t need to go anywhere else. And as they linger on your pages, soaking in the wisdom, the algorithms take notice. So, whether it’s through detailed blog posts, insightful case studies, or engaging infographics, make sure your content leaves no stone unturned.

Regularly Update and Refresh Content

Search engines adore fresh content, and so do your visitors. Keep your ERP website alive and kicking by regularly updating your blog, news section, or any other content hubs. Share industry insights, success stories, or any relevant updates to showcase your expertise and keep users coming back for more.

#2: Boost Your Local SEO

Over 75% of Internet users in the United States, France, Germany, and the United Kingdom use Google to sniff out local business info, making it the fertile ground for planting your ERP website’s flag. Plus, with “near me” searches on a relentless upswing, dominating your local digital territory becomes even more crucial. Here’s how you can ensure that when folks are on the hunt for “ERP solutions near me” or “top ERP software in [Your City],” your ERP firm will pop up:

Polish your Google My Business (GMB) Profile

A meticulously optimized GMB, decked with the latest updates and glowing reviews, is like having an always-on digital billboard that showcases the best of what your ERP business offers without the hefty price tag of traditional advertising. So, keep your profile sharp, shiny, and irresistibly current with all the newest deets and updates. A GMB update scheduler like OneUp can be a massive help here, ensuring your profile is perpetually polished and primed to wow future clients.

Dig for Local Keywords

Dive deep into the lexicon of your local audience. What phrases are businesses in your area typing into Google when they’re hunting for ERP solutions? Identifying and integrating these local keywords into your website content, blog posts, and even social media updates can supercharge your visibility among the home crowd. Tools like Google Keyword Planner or SEMrush can offer invaluable insights, helping you to pinpoint the precise terms that will elevate your local SEO cred.

Craft Locally Relevant Content

This is where you tell the story of your ERP solutions in the context of your local community. Become the local ERP expert by dishing out content that hits home – tackle local problems and jump on local market trends. Host webinars, highlight case studies of neighborhood businesses you’ve boosted, and blog about what’s buzzing in the local market.

#3: Elevate Your Site’s User Experience

In a world where Google’s algorithm’s gaze pierces the veil of manipulable metrics, the true measure of a site’s worth lies in the genuine, organic interactions it fosters. Why? Because the search engine titan now sizes up your site not just by content quality but by how users interact with it, according to the latest core web vitals update. So, how do you ensure your ERP website is not merely limping along but leading the pack in this brave new SEO world?

Speed Up Your Website

A snappy, responsive site keeps visitors happy and engaged longer, reducing bounce rates and signaling to search engines that you’re worth the top spot. Tools like Google’s PageSpeed Insights can help you diagnose and fix your website’s lags, making your online portal as swift as it is informative.

Make Navigation Effortless

Your ERP website should be as navigable as a well-organized library, with every service, product, and piece of content intuitively accessible. Menus should be clear, search functions robust, and information architecture should be designed with the user’s journey in mind.

Provide a Positive Customer Experience (CX)

Pack your site with a knowledge base so rich and detailed that it’ll knock even the trickiest questions out of the park. On the off chance that a question eludes the grasp of your digital archives, summon forth the powers of CX ticketing tools like Zendesk or its alternatives to keep customer frowns at bay. This strategic move doesn’t just ward off customer dissatisfaction—it can also help you generate glowing endorsements and social media shoutouts for your seamless CX, giving your SEO an extra boost.

#4: Other Relevant SEO Strategies for ERP Websites

While the above strategies lay the foundation for a robust SEO game plan, there are more avenues to explore in the quest for search engine results page (SERP) dominance. Here are some additional strategies to consider:

Build a Strong Network of Backlinks

Backlinks are the alliances you form in the digital kingdom. They signal to search engines that other sites find your content valuable and authoritative. Encourage reputable websites within your industry to link back to your content. This can be achieved through guest blogging, creating shareable infographics, or producing such compelling content that others can’t help but link to it.

Create a Reader-friendly Content Structure

The structure of your content should invite readers in, guiding them from curiosity to enlightenment without any hiccups. Use headings, bullet points, and images to break up the text, making it easy for skimmers to get the gist while also providing enough context for those ready to dive deeper. In addition to catering to different types of visitors, this approach also makes it easy for search engine crawlers to index your content.

Invest in Paid Advertising

While organic SEO efforts can yield impressive results over time, sometimes you need a little extra push to get noticed in a crowded digital landscape. Consider investing in paid advertising channels like Google Ads or social media ads to give your ERP website an immediate visibility boost. With targeted ad campaigns, you can reach potential customers at every stage of the buyer’s journey and drive qualified traffic to your site.

Expand Your Software Arsenal

To catapult your ERP website into the stratosphere of search engine rankings, your armory must extend beyond the conventional SEO toolkit. Here are a few tools to consider adding to beef up your software infrastructure:

  • AI and Machine Learning Tools. Embrace the power of artificial intelligence and machine learning to predict trends, analyze vast datasets, and generate insights at a scale and speed unattainable by human analysts. These technologies can help run analytics in SEO and identify emerging SEO opportunities, automate content optimization, and enhance user experience by delivering more relevant and personalized content.
  • Business Management Software. Streamline your SEO operations and gain invaluable insights into your ERP website’s performance with robust business management software. Whether it’s tracking leads, managing projects, or analyzing financial data, investing in top-tier business management software can enhance your internal digital marketing processes and provide you with the data necessary to refine your SEO strategies with surgical precision.
  • Social Media Analytics. Social media, while not a direct influencer of your Google rankings, plays a crucial role in amplifying your ERP brand’s voice and reach, potentially leading to indirect SEO benefits through increased traffic and engagement. By wielding advanced social media analytics tools, you can dissect the nuances of your audience’s behavior, track the performance of your content across platforms, and fine-tune your social media strategy to maximize your digital footprint.

In addition to these tools, incorporating other software like PowerPoint or Google Slides into your arsenal can be highly beneficial. For instance, preparing presentations for SEO strategies or outcomes can be made more efficient and impactful with the right tools. You can also use existing presentation templates, such as the SEO Proposal Presentation template, to save time and avoid the hassle of starting from scratch. These templates are designed to help you present your proposals or results in a structured, professional manner, thereby enhancing the communication and understanding of your SEO efforts. Embracing presentation tools not only streamlines the process of sharing your SEO plans and achievements but also reinforces your brand’s professionalism and dedication to excellence.

Optimize Your ERP Website for Top Search Results

Moving up the SERP (search engine result page) ladder isn’t a 100-meter dash; it’s a full-blown marathon. But equip yourself with the right strategies, and you’ll be leading the race in no time. So, employ these SEO strategies for ERP websites, fine-tune them as you go, and watch your site climb the ranks, drawing in the right crowd and delivering a bounty of organic traffic, leads, and, of course, conversions.

QuickBooks Desktop is Sunsetting: What Businesses Should Know

Posted on by Matt Bernot

By now you should have heard that Intuit is making significant changes to their QuickBooks product offerings. After May 31, 2024, if you are not already a U.S.-based QuickBooks Desktop customer, new purchases of Desktop Pro and Desktop Premier are going away. New customers, however, can still buy a yearly Desktop Enterprise 2024 subscription.

For current QuickBooks Desktop customers, on May 31, 2024, Intuit is discontinuing all 2021 Desktop versions as they continue to nudge QB Desktop customers into their online, cloud-hosted version called simply, QuickBooks Online. QBO for short. More on that later.

Here is the complete list of QuickBooks Desktop 2021 on the chopping block:

  • QuickBooks Desktop Pro 2021
  • QuickBooks Desktop Premier 2021 (General Business, Contractor, Manufacturing & Wholesale, Nonprofit, Professional Services, and Retail)
  • QuickBooks Enterprise Solutions 21
  • QuickBooks Premier Accountant Edition 2021
  • QuickBooks Enterprise Accountant 21
  • QuickBooks Desktop for Mac 2021
  • QuickBooks Desktop Point of Sale 19.0 is going away as well on October 3rd, 2024.

It’s important to know that access to those indispensible services you’ve been using via QuickBooks Desktop 2021 software will be discontinued after May 31, 2024. These include:

  • Online Banking
  • Online Backup
  • QuickBooks Desktop Payroll
  • Desktop Payments
  • Live technical support

For a complete list of services being sunset, check out Intuit’s QuickBooks Desktop service discontinuation policy. 

Any business using QuickBooks Desktop 2021 should have an actionable plan before all these services suddenly disappear along with critical security updates that help protect your business from cybertheft.

What are your options to replace Desktop 2021 QuickBooks?

Option: Move to QuickBooks Online 

If you were to contact Intuit about your options to replace QB Desktop 2021, they would likely point you toward QuickBooks Online. QBO has been around since 2004, long before cloud-hosted software became so prevalent in recent years. 

When QBO was first made available to consumers, many customers who switched over from previous Desktop versions of QuickBooks reported that QBO initially lacked many core features as compared to QB Desktop software. 

Over the years, QuickBooks Online has evolved significantly, adding various features and integrations to better serve its users’ needs.

Cloud-hosted business management software platforms, often referred to as Enterprise Resource Planning software (ERP), can offer benefits over traditional on-premises (desktop) apps. Security, accessibility, data backup, scalability, cost efficiency—all required components for running today’s business.

Before you pull the trigger to migrate from QuickBooks Desktop to QuickBooks Online there are several considerations to take into account to ensure a smooth transition and to leverage the benefits of cloud-based accounting software. Here are key points to be aware of:

  • Feature Differences: QuickBooks Online and QuickBooks Desktop offer different sets of features. Before moving, evaluate if QuickBooks Online meets all your business needs. For example, some industry-specific features in QuickBooks Desktop may not yet be available in the online version.
  • Data Migration Limits: When migrating data from Desktop to Online, note that not all data may transfer seamlessly. Detailed transaction history, custom reports, and certain types of attachments may not migrate. Review what data will and will not transfer to plan accordingly.
  • User Interface and Workflow Changes: The UI and workflows between the two versions differ. QBO users will need to adapt to the new layout and navigation in QuickBooks Online.
  • Subscription Pricing: QuickBooks Online operates on a subscription model, which is different from the one-time purchase or annual subscription for QuickBooks Pro, Premier, and Enterprise desktop versions. Investigate the ongoing monthly or annual costs for the online version.
  • Internet Dependency: QuickBooks Online requires a stable internet connection for access. Make sure your internet reliability and speed will support using cloud-based software effectively.
  • App Integrations: QuickBooks Online often integrates with a broader range of third-party apps and services than its desktop counterpart. Review and consider any changes needed to your current tech stack.
  • User Access Levels: QuickBooks Online allows for different levels of user access and multiple users to access the account simultaneously from different locations. Plan your user access levels and who needs what level of access in your organization.
  • Security and Data Backup: While QuickBooks Online offers strong security measures and automatic backups, understand how Intuit protects your data and what responsibilities you have, such as managing user access and passwords.
  • Training and Support: Intuit and various third-party providers (ProAdvisers) offer tutorials, webinars, and customer support for QBO.
  • Review and Clean Up Data: Before migrating, it’s a good practice to review your QuickBooks Desktop data for any errors or unnecessary information. Cleaning up your data can simplify the migration process and improve your accounting practices in QuickBooks Online.

There is always a tradeoff in any business decision, and only you can ultimately determine what the best course of action for your business is. Be clear about both the upside and downside of the transition from QuickBooks Desktop to QuickBooks Online to minimize potential disruptions to your business operations.

Option: Renew your 2021 QB Desktop software to the latest version.

Before May 31, 2024, if QuickBooks Online doesn’t meet your needs, or you feel you can’t get your business prepared to migrate to a cloud-based platform before your clock runs out, you can contact Intuit’s QB Sales team to upgrade your existing Desktop QB version. If you’ve been a Desktop QB user over the years, you know this will require a pre-paid yearly subscription.

Yes. Unquestionably, shelling out big ducats for an updated Desktop QB package is the path of least resistance. With this option, you can just go back to business as usual without the need to move to cloud-hosted accounting. 

Bear in mind, you’re likely just kicking the can down the road. At some point over the next few years, it’s likely that all Desktop QB will be discontinued, so you’ll once again find yourself exactly where you are now, only with fewer options.

Option: Consider moving away from QB to an all-inclusive business management software platform.

Intuit QuickBooks Online is not the only game in town. Small to mid-market businesses (SMBs) might consider migrating away from QuickBooks to an all-inclusive Enterprise Resource Planning (ERP) platform for several reasons, often tied to the growing complexity and scale of their operations. 

While QuickBooks is effective for accounting and financial management, a cloud-hosted ERP system offers a broader range of integrated business functions. Here are 10 reasons why leaving QuickBooks for an industry-focused ERP with integrated accounting capabilities can help your business grow:

  1. Integrated Business Processes: ERP systems integrate core business processes, including inventory management, supply chain operations, customer relationship management (CRM), human resources, and more, alongside accounting and finance. This integration facilitates streamlined operations and data consistency across departments.
  2. Scalability: As businesses grow, their processes and systems become more complex. ERP platforms are designed to scale with the business, supporting a larger number of transactions, more extensive inventory, a bigger workforce, and expansion into new markets or product lines without the need for multiple disparate systems.
  3. Real-time Data and Reporting: ERPs provide real-time data across all integrated business functions, offering comprehensive insights and reporting capabilities. This allows for better decision-making based on current information rather than historical data.
  4. Improved Efficiency and Productivity: By automating business processes and reducing the need for manual data entry across systems, ERP platforms can significantly improve operational efficiency and employee productivity.
  5. Enhanced Customer Experience: With integrated CRM functionalities and self-service portals, ERP systems help businesses manage customer interactions more effectively, from sales and support to after-sales services, leading to improved customer satisfaction and loyalty.
  6. Compliance and Risk Management: For businesses in regulated industries or those dealing with complex tax scenarios, ERPs offer robust compliance and risk management features. These systems can be configured to ensure compliance with various regulations and standards, reducing the risk of non-compliance penalties.
  7. Customization and Extensibility: ERP platforms typically offer more customization and extensibility options than QuickBooks. Businesses can tailor the ERP system to their specific processes and integrate it with other software, providing a solution that grows and evolves with their needs.
  8. Global Operations Support: For businesses operating internationally, ERPs support multiple currencies, tax regimes, and languages, which is essential for managing global operations efficiently.
  9. Cost Efficiency Over Time: While the initial investment in an ERP system can be higher than continuing with QuickBooks, the long-term benefits of streamlined operations, efficiency gains, and the ability to scale can lead to significant cost savings and a higher return on investment.
  10. Data Security and Control: ERP systems offer advanced data security features, ensuring sensitive business information is securely managed and controlled, which is crucial as businesses grow and face more complex cybersecurity threats.

Much like the option for moving from QuickBooks Desktop to QuickBooks Online, migrating to a cloud-hosted ERP system represents a significant step for any business. The future landscape of business software is likely to become entirely a cloud-hosted Software as a Service (SaaS) model over the next several years. So, whether now, or a few years from now, every business will go through a transformation and move towards a more integrated and sophisticated approach to managing its operations. 

Conclusion

The decision to transition your business to an all-in-one business management ERP software platform should be based on a careful assessment of the business’s current and future needs, the costs involved, and the potential benefits to be gained from a more centralized and comprehensive system.

Striven Named Among Top ERP Software in 2024 – Software Advice

Posted on by Scott Hammer

In a recent report, SoftwareAdvice, a leading software review site owned by Gartner, named Striven in its flagship report covering the top-rated and most affordable ERP software solutions in 2024.

This list of software solutions was created in large part by user feedback, as well as the affordability of each system. Striven was ranked #2 on this list behind only project management software Monday.com.

*Note that while Striven does not have a mobile app, it is a webapp that is easily usable on any mobile device.

Here is what the SoftwareAdvice analytics team had to say about Striven:

“Striven’s comprehensive ERP capabilities make it suitable for businesses looking to give customers, clients, and vendors the flexibility to manage their data. They can add or update information and download required documents at their convenience. The tool allows users to raise support tickets for their queries and concerns. Users can raise tailored invoices directly from the platform and share them with concerned parties via email or dedicated portals.”

Here’s one of our customer reviews that was factored into Striven’s placement on this list:

“I like the collaboration tool it was really very useful to keep everyone on the same communication channel. I can share documents, discuss ideas and solve problems very quickly.” ~Ana

Want to read more? You can check out the original article right here: 7 Top-Rated Affordable ERP Software

Striven’s Winter 2024 Triumph: G2.com’s ERP Standouts Unveiled

Posted on by Scott Hammer

We are thrilled to share that Striven has once again demonstrated its prominence in the ERP sector, marking a significant achievement in the Winter 2024 ERP Awards on G2.com, a renowned platform for business software evaluations. This recognition is a reflection of not only our groundbreaking technology but also the commitment of our devoted team and the continuous support from our valued customers.

G2.com, every quarter, shines a spotlight on the industry’s leading solutions, as voted by the most crucial judges: our users.

Let’s celebrate our remarkable accomplishments for Winter 2024:

  1. Best Results, ERP Winter 2024: Striven leads the way, showcasing our exceptional outcomes in the ERP domain.
  2. Small Business High Performer, Americas, ERP Winter 2024: In the small business category, we’ve outperformed many, attaining a prestigious ranking.
  3. Momentum Leader, ERP Winter 2024: Demonstrating our dynamic progress in the ERP field, we’ve secured a leading position.
  4. High Performer, Americas, ERP Winter 2024: Our performance in the Americas region has been recognized, earning us a top spot.
  5. Mid-Market High Performer, Americas, ERP Winter 2024: Among mid-market players in the Americas, Striven has emerged as a high performer.
  6. High Performer Mid-Market, ERP Winter 2024: In the mid-market segment, our performance has been outstanding, securing us a notable position.
  7. High Performer, ERP Winter 2024: Across the board, Striven has been acknowledged as a high performer in the ERP landscape.

These accolades on G2.com directly mirror the Striven team’s perseverance, innovation, and hard work. More crucially, they highlight the invaluable input, confidence, and collaboration from our user base and customers. Your reviews, testimonials, and constructive criticisms have been pivotal in our incredible journey.

We are dedicated to continually redefining the capabilities of an ERP system. The road ahead is filled with more innovation, enhanced functionalities, and increased support to optimize your business operations. Anticipate more exciting updates, features, and advancements as we forge ahead together.

To our customers, partners, and the entire Striven family – your involvement in this remarkable journey is greatly appreciated. Here’s to many more milestones, triumphs, and mutual growth!