Accruals and deferrals is an essential task of bookkeeping when itRead More
Current studies such as the study "ERP in practice 2020/2021" by Trovarit show that many companies often underestimate the effort required to implement an ERP system: This mainly affects data migration, which ERP users cited as by far the most common Problematic point in the ERP implementation is described.Read More
Returns are increasingly burdening online trade. A key figure that is often used in a business context is the return rate. Returns are ordered goods that are sent back to the seller by the customer. These are used or unused goods. However, the return rate has different dimensions, which can be determined from the business figures.Read More
Disrupted supply chains and rising costs currently affecting manufacturing and trading companies were first triggered by the pandemic and now exacerbated by the war in Ukraine. The latest reports on the business climate are causing many companies to switch to crisis mode or at least to deal intensively with an intensification of the crisis. Luckily, companies that have a solid ERP system in place have an important tool at their disposal. Automated inventory management can be essential for businesses impacted by disrupted supply chains looking to weather these uncertain times.Read More
All companies today have to observe the GoBD-compliant storage of certain documents. Proper archiving alone is not enough. Procedure documentation must state which specific measures and procedures are to be taken.Read More
Companies that manufacture medical devices in particular are obliged to manage these products in batches. This applies in particular to all products for implantation, in vitro diagnostics and all products made from substances of animal origin. Batch management for medical devices is a legal requirement that must be strictly observed. The batch number documents both the manufacturing process and the raw materials used. In certain circumstances, lot numbers may be used to initiate product recalls.Read More
Inconvenient but true, an ERP upgrade is almost inevitable after a period of running the business software. Renewal is often the vehicle for a digital transformation that enables new lines of business, significantly improves usability and increases efficiency.Read More
Data lakes and data warehouses are buzzwords one hears when it comes to data retention in the context of big data. In fact, they also denote two different approaches. The “lake” is actually a coherent term for the data lake: A large basin filled with raw data that is stored there unstructured and without a specific use. A data warehouse, on the other hand, stores ordered, structured, filtered data. For what purpose should one use which approach?Read More
The implementation of ERP software naturally requires a review and adjustment of business processes in order to be able to properly install and configure the software. Such review and adjustment, while not the equivalent of business process reengineering, can provide some level of process improvement.Read More
At the beginning there is the outstanding idea and/or the unique selling proposition that promises big profits. After founding the startup, the focus is then on acquiring customers and refining the business model and generating revenue. What carries all these activities and ultimately decides on success or failure are, in the end, the finances.
In order to keep these under control as a founder, regulated accounting is required for startups.