Technology, and in particular ERP solutions is fundamentally changing various phases of the organizations. Right from how the organization functions to successful implementation; the technology has made it quite easier to compete in the global market.

As warehouses are becoming advanced, and factories are becoming productive, the process of implementing procurement software has gone to a whole new level. The technocrats are constantly developing innovative products to make the ends meet and make life easier by simplifying the complications of business. With implementation of procurement software, certain challenges arise in the same proportion. Before procuring, the professionals need to bridge the gaps and eliminate all the problems associated with procurement.

What are the common problems in the Procurement process?

(1) Poor selection of vendors

Within the organization, it is very important to maintain a smooth running of the business operations that is reliable and has an uninterrupted supply of goods and services. Without dependable vendors and robust e-procurement software, it will be quite difficult for the team to implement the software and understand the basic requirements of the business.

The best solution to the problem is to go for vendors with a proven track record and years of experience in handling clients globally.

(2) Violation of purchasing protocol

It is often a common problem within an organization that employees do not abide by the purchasing protocol. An organization with a centralized purchasing model allows a certain number of people to purchase on behalf of the company.

In many cases, the companies decentralize the purchasing model thinking that their employees will not follow the purchasing protocol. As a result, they make a purchase that is excess than the required amount. It affects finance and increases unnecessary expenditure.

To solve this, companies need to ensure about their requirement and apply a strict protocol, by implementing purchasing software that gives access to the selected employee?s in-case if they purchase on behalf of the company. The implementation of this software will help you to ease the process as well as track every purchase done by employees. In addition to this, the company will be able to track unnecessary expenses.

(3) A gap in user-communication

Due to a lack of user communication, the requirements of the users are often misinterpreted which leads to the selection of wrong products. As procurement software is implemented it will emphasize more on the functional requirements of the users.

Procure-to-pay software will help you to set up communication between users and vendors. Apart from this, it will create practical and realistic timelines that will be taken into account for future reference.

(4) Bad relation with suppliers

There are instances when organizations do not maintain good and cordial relations with suppliers. As a result, it affects the procurement process and increases the complications within the organizations. For efficient management of business, it is quite important to set-up good coordination with suppliers by implementing procurement software. Sharing a good relation with suppliers will help you set up a good communication and ensure good business productivity.

(5) Delays in implementation leads to complexity

The process of procurement involves managing multiple purchase requisitions, setting up approvals for respective departments, quality checking of products, payments, invoices and much more. If procurement software is not well implemented, it will be quite difficult to regulate the above process and a large fraction of time will get wasted due to flaws in procuring process. Hence, it is very important in today?s digital era that organizations adapt to procurement software which comes with lots of customization options that can be easily mould as per the needs of the business ensuring smooth business operations.

Final Take Away

As the world is heading towards digitalization, organizations should be well prepared to face challenges while planning to implement TYASuite Procurement Software which comes with a handful of 3500 plug and play features to ease and streamline business operations irrespective of any industry. Keeping in mind the above-listed problems, our robust software can help you deal with upcoming hardships and solve them within a limited time frame by automating procurement to pay process in a correct way.

Ease Every Complication with Plug and Play ERP implementation

The time is changing at a fast pace and so is the business requirements. To emerge as a winner, it is quite important to implement Plug and Play ERP software developed by TYASuite to get productive results within a limited time frame.

Technology has transformed over the last couple of decades and so is the business. With transformation, the business owners are looking forward to accelerating their business in the same proportion. To match the speed of transforming technology the companies around the globe are using tools and techniques to take their business to the next level.

The style of managing inventory within the organization has changed drastically. With passing years the inventory management software came into existence making it easy for organizations to manage their inventories. Inventory management is a tedious task that slows down the business process. Choosing the right inventory management software with the right features will help you maintain the pace of the business.

Balance your Business with Inventory Management Software

There?s no doubt about the fact that the value of inventory software cannot be understated especially for businesses dealing with a huge amount of goods. In other words, inventory management is a crucial step in a supply chain where the movement of stocks is tracked in and out of the warehouse.

The main objective of implementing inventory management software is to track the movement of stocks at a particular time as well as track the volume present in the warehouse.

Benefits of an Effective Inventory Management System

(1) Help to increase overall efficiency

The selection of the right Inventory Management System helps to increase the overall health of the business. It will help to save the time of your employees which they spend on record keeping as well as in tracking the movement of stocks. It will promote efficient time management as well as give enough time to employees to contribute to the company.

(2) Stay updated with inventory location

If you have multiple branches for your warehouse then it becomes important to track the exact location of inventories. To confirm the presence of inventories it is important to have Inventory tracking software to stay updated with the status of inventories.

(3) Keep your warehouse well organized

The implementation of Inventory management software keeps your warehouse organized. It will help you save money and improve the fulfillment of business using the warehouse for inventory management.

(4) Improve the efficiency and productivity

Inventory control software helps to manage time and promote optimum use of company resources. The implementation of inventory management software helps to speed up the process and ensure inventory records are intact and up to date.

(5) Build customer confidence with reasonable price

As inventory management software is implemented with better strategies, the organizations can use inventory planning to improve the cash flow by providing quality customer service at consistent and amazing pricing. This step will help to adjust the product line and help the companies to make intelligent business decisions.

The Final Statement

Inventory management is an asset for the company, so it is very important to nurture and protect your assets to emerge as a global winner. As inventory management software is implemented it can contribute a lot in cost control as well as predict the sales and prepare your business to face global competition. The Plug and Play Cloud ERP Software has made everything possible that the decision-makers can think to expand their business. There is a better chance for profitability as well as survival for the business to grow in a competitive market with a good scope.

Take Control of your Inventory with TYASuite

As soon as the inventory management software is implemented within the organization it will open the doors of endless possibilities for your company. To leave the footprint of success inventory management software is one of the best options to compete with global rivals.

Contact our team for a free trial today!

Accounting software -

On March 24^th, 2021, MCA has introduced a new rule related to accounting software by introducing sub-rule (1) to rule 3 the companies (Accounts) rules, 2014.

The new rule mandates every company which uses ?Accounting Software? for maintaining books of account to ensure the below features in new accounting software with audit trail:

1. Must have a feature of recording audit trail for each and every transactions
2. Edit log for each change in books of account along with date stamp
3. The audit trail must not be capable of disabling

In addition to the above, MCA has also changed the content of the audit report, where the auditor must need to comment as below:

?Whether the company has used accounting software with audit trail for maintaining its books of accounts which has below features?:

1. Recording audit trail
2. The feature has operated throughout the year
3. The audit trail feature has not been tampered with
4. The audit trail has been preserved as per the record retention rule

As we know most of the small and mid-size companies in India use traditional accounting software.

Considering the timeline given by regulator, it?s challenging for businesses to find alternative accounting software or approach their existing accounting software companies to develop this feature. Development of this magnitude may not be quick and easy from accounting software company?s side.

If you are looking for a ready-to-use accounting software with an audit trail, do check out TYASuite?s Cloud ERP Software. With Plug and Play Cloud ERP, you can go live within weeks.

The change in the taxation system of the country has proved to be a boon for the ever-growing economy. Being the largest democracy in the world, the reform in the taxation system has not only boosted-up the Indian economy but has also made the taxation system more transparent than ever before.

After the introduction of the game-changing GST Law, E-invoicing has now also been implemented for B2B (business-to-business), and business-to-government. In the world's largest economy like India, e-invoicing is being rolled out in B2B transactions initially to curb tax evasion in the country.

Following the footprints of India, the European nations are planning to implement the same for their business. Implementing an E-invoicing system will help them to digitalize their economy and open new doors of possibilities for their business in terms of generating revenue and create more employment opportunities.

What is e-invoicing?

Electronic invoicing or e-invoicing, refers to a method of processing and generating invoices in an electronic format with the help of a common platform between the buyers and suppliers. With the implementation of the GST e-invoicing system, all B2B invoices will get electronically verified by GSTN subject to certain limits. All businesses around the country can generate e-invoices with the help of available Plug and Play ERP software which has an e-invoicing module.

Importance of E-invoicing for Business

It can help your business to grow as well as maintain transparency in every financial transaction. The importance of E-invoicing is mentioned below:-

(1) Saves Time

Before the implementation of e-invoicing, the financial records were not so organized. Many times, it was manually or through the use of multiple software. As the records were scattered, it increased the probability of errors. To eliminate the chances of errors and save time e-invoicing, is implemented to reduce the steps that were followed traditionally. As a result, it helps to save a considerable amount of time both for suppliers and buyers. It also automates GSTR 1 fillings thus saving a significant amount of time.

(2) Helps in Cost Control

As the country is heading towards a digital economy it emphasizes more on the paperless mode of working. As E-invoicing is generated and authenticated by government to be a genuine invoice it can electronically be shared online with buyers and sellers with confidence.

(3) Reduce the Chances of Error

With the manual generation of invoices, there are higher chances of errors. As a result, it can create a lot of discrepancies in business transactions. To avoid these types of problems it is the best option to look for E-invoicing software. With help of software, it will be easy for buyers and sellers to maintain the highest level of transparency during the entire business operations.

(4) Improve Customer Satisfaction

The satisfaction of customers is very important for any business. The implementation of E-invoicing helps to save 90% of the processing costs. As it is paperless the customer can get complete advantage of early payment as well as they can get best deals on every purchase.

(5) Reduce the Chances of Fraud

With real-time tracking of E-invoices, there are less or no chances of fraud. The implementation of e-invoicing has given a strong hand to tax authorities to take stern action against fraudsters.

Final Take Away

For a developing nation like India where tax evasion is quite a common problem, the implementation of E-invoicing will solve the problem up to a great extent. Apart from this, it will also help to maintain transparency in the long run for all organizations. In the coming time, it will boost up the Indian economy and take the country on the path of progress and prosperity.

Launching of E-invoicing by TYASuite

As an emerging Cloud ERP service provider, TYASuite has taken a step ahead to launch E-invoicing solutions for its esteemed clients helping them to ease the complications. It is one of the leading cloud ERP service providers helping organizations to streamline their business.

The innovation of technology has transformed the scenario of business around the globe. With the revolutionary change, the business leaders are looking forward to cope up with the change and implement them to increase their productivity as well as minimize the complications of day to day business operations.

Since ERP came into existence it has proved to be one of the biggest game-changer for the corporate world. As cloud ERP has entered the global market, the hassle-free ERP implementation remains a challenge for the ERP department.

The Layout for ERP Implementation

The tips mentioned below will help companies with hassle-free ERP implementation:-

(1) Know well about your challenges that you are planning to solve

Before starting ERP implementation within the organization, it is very important to know about the unique strengths of the ERP you are implementing. For the successful implementation of cloud ERP, there should be detailed documentation of business problems the ERP is expected to handle and make it easy for the organization to carry out the business operations smoothly.

(2) Get the business process document ready

Before you take a step ahead to implement the cloud ERP, have clarity about digital transformation within the organization. Make a clear map about all the business process along with the details of all stakeholders. By doing so it will help you understand the challenges that can come after the implementation of cloud ERP.

(3) Identify the customization points

It is reasonable to assume that you will need some customizations to the proposed Cloud ERP you are planning to implement. It is advisable to have a complete list of customizations outlined and agree with the implementation partner upfront to avoid derailing the cost as well as the timelines for the implementation.

(4) Choosing the right service provider

Many service providers offer ERP services at amazing prices. But before choosing the service provider you need to decide their credibility and success rate on ERP implementation. The right strategic partner will provide you the exact solution at the time of ERP enforcement as well as train employees to use various modules of ERP. Get an understanding of the hourly rates from the implementation partner in case the budgeted time gets exhausted later.

(5) Be prepared with a realistic plan

Planning is the key to the successful accomplishment of ERP. Be informed about the timelines and milestones of the projects. Keeping that in mind conduct trial runs to test their performance once they are live for execution. By doing so it will help to anticipate the delays and tune-up the configuration.

(6) Conduct User Acceptance Test (UAT) after implementation

Once ERP software is implemented, start the process for adequate testing. Ensure the business process document is met with the final ERP system. Process a few test transactions covering multiple scenarios.

(7) Fix UAT Issues

Once the UAT is done and if changes are foreseen on UAT, get the same incorporated and bifurcate them before going live. Choosing the right cloud ERP system will help you to stay aligned with the pre-defined standards of the organization.

(8) Having an ERP Champion

Depending on the no. of users in your company, you must opt either for a full-time ERP Consultant or a virtual ERP Consultant. In general human beings have been average to any change. ERP Implementation is a big change in the style of their working habits and process. They tend to have a pushback nature on this implementation. The role of an ERP Consultant is critical in addressing the user queries and ensuring that the user?s acceptability is increased.

Final Take Away

Following the above-mentioned tips can help to ensure the successful implementation of cloud ERP. The most important thing is to make sure that the final execution of ERP matches organizational goals and objectives. As cloud ERP comes into effect it will simplify your business operations as well as ensure optimum utilization of resources.

Emerge as a winner with Hassle-free ERP Implementation

TYASuite is committed to your organizational success. Plug and Play ERP Software will help you to gain remote access to cloud-based applications. Get live in just 7 days with enriched features and wide accessibility options.

Navigating through numerous ranges of software is quite a baffling problem and selecting the right procurement software as per the requirement makes it even more challenging. Right from medium enterprise to a company with a turnover of billions, there has been a huge demand for procurement software that can help the companies to cater to the needs of the organization.

Businesses across all industries are completely dependent on ERP software. The selection of the right software not only makes your business operations easy and hassle-free but also helps you stay ahead in the competition. The decision-makers of the organization are ready to invest in Plug and Play ERP for smooth execution of all business operations.

Guidelines for Choosing Right Procurement Software

The below-mentioned must have features will help you choose the right procurement software for your business:-

(1) Easy Operation for your Team

Easy and efficient handling of the software is one of the most critical factors before you purchase any procurement software. A user-friendly interface is one of the most crucial factors that need to be taken into consideration. For the best results, it is highly advisable to take a free demo of the software so that the users will get a walkthrough of the complete functioning of your proposed procurement software.

The free demo will help you access and understand the degree of flexibility that procures to pay software is offering for end users.

(2) Fast and Hassle-Free Implementation

Once after purchasing the software the implementation is yet another challenge for the team. No one is willing to abide by a complex implementation process. It is a better decision to know your software well before taking the final call for purchasing the software. You can search for Plug and Play Procurement software which can go live within days and thus saving substantial time and cost of implementation.

(3) Prompt Customer Support

There can be a technical glitch while your team is using purchase order software. For handling technical glitch, it is important to make sure that service providers are providing you with the best customer support in case of need. For best results, the organization can choose for best ERP cloud providers who can extend their services in terms of support. You must take feedbacks from at least 2 existing users of the procurement software you are planning to buy.

(4) Your Business Process Fitment

Every procurement software does not fit all companies process requirement. It is must to have your business process document drafted before you start hunting for right procurement software for your business. This gives you broader picture of how well your company process fits into the procurement software being evaluated.

(5) Identify the Customization Features

Once you take a demo , you must start taking a note of all features which is there in your company existing process but not in the procurement software being evaluated. After this, segregate the same between must have (MH) and good to have (GH) features. Once this is done, have a discussion with the vendor to understand what MH features can be added and the related cost. Based on this, you shall take a decision.

The Bottom Line

Nowadays there are numerous software that are easily available with instant access as per the needs of the organization. Before purchasing the procurement software understand the kind of business your organization is conducting. By doing so it will help you to decide and choose the right software that fit well with the nature of your business.

Get in touch with our team to start your free demo today!

TYASuite is one of the best cloud ERP service providers helping organizations to create a difference in the global market. With multiple options and highly customizable services, TYASuite is providing the best ERP platform to fulfill the organizational goals for all types of industry.