From 1 January 2025, an important change for companies in the B2B sector will come into force: the mandatory introduction of e-invoicing. This step towards digital transformation not only offers more efficient processing without paperwork. Electronic invoicing also makes an important contribution to resource conservation and environmental friendliness. By using standardised formats such as XRechnung and ZUGFeRD, which comply with European standards, companies can automate and digitalise their invoicing processes.
Read MoreArtificial intelligence (AI) in financial accounting
In today's world, AI has the power to transform many industries, and finance is no exception. One of the areas where AI could make significant progress is financial accounting.
Read MoreReturn rates – on the trail of returns
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 MoreSurvive the supply chain crisis with an ERP
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 MoreNo GoBD without process documentation
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 MoreManage batches for medical devices
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 MoreERP upgrade – at some point it will be time
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 MoreData warehouse or data lake
Data lakes and data warehouses are buzzwords you hear when it comes to data storage in the context of big data. In fact, they also refer to two different approaches. The "lake" in a data lake is actually a coherent term: a large basin filled with raw data that is stored there in an unstructured form and without a specific use. A data warehouse, on the other hand, stores structured, filtered data in an organised manner. Which approach should be used for which purpose?
Read MoreBusiness process reengineering before ERP implementation
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 MoreCoding or customizing: Correctly adapting ERP software
There are two methods for customising the processes of an ERP. Customizing is the method of adapting the system within the possibilities that the system offers.
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