Bridging Sage X3 Capabilities with Enterprise Abilities

What are the exceptional capabilities of Sage X3?

Every start-up or business that needs to be at par with the digitalized era, demands an adapting Enterprise Resource Planning (ERP) that scales the complex areas of the business system at every touchpoint and its parameters. Let us have a glance at how Sage X3 as a cloud ERP software provides a simplified and personalised business management solution assuring the growth of Rate on Investment (ROI) to Rate of Return (ROR/ROI) each day.

Sage X3 as an ERP Application

ERP involves a complex network of business management integrating all the operations of entities like productions, warehousing, sales, financial appropriation, quality control, customer services and all associated parameters. Sage X3 has provided a cohesive solution to simplify the complexity across all the business parameters at one flexible platform. It is designed to ensure consistent efficiency with speed, automated global compliances and expansion. The infrastructure of the software is designed to deliver – 

  • Cost effective solutions for the growing business
  • Fast integration and processing in supply chain, production and financial management
  • Automated ecommerce in end-to-end sales process, global compliances and customer interactions

Resource Planning Made Manageable and Adaptable

Sage X3 serves its purpose in cutting down the time consumption of planning the production process, manual entry at each sales point, with unmatched speed in scheduling cycle time and quality control.

Some of its streamlined features are – 

  • Low cost ERP functionality for manufacturers and distributors tailored to service requirements and type of ever-changing business parameters
  • Curated to support both current and future needs with its adaptable infrastructure and tailored add-on features.
  • Simplicity in implementation of automated solutions for the complex Enterprise Resource planning
  • Providing the freedom of technological choice as Sage X3 is designed to work efficiently with any Operating System like Unix, Linux or Windows and equally well with database software  like Microsoft SQL or Oracle.
  • Its architecture works fluidly both on a web base or local domains of client-server
  • Functionality supports worldwide efficiency with multiple languages, currencies, consolidations and jurisdictions
  • Top-notch technological management of services like –
  • Different aspects of Inventory or management right from order to cash and product profitability analysis; 
  • Warehouse processing like stock assessment and fulfilment of orders
  • Monitoring of performance and business growth across different entities
  • Reduced risks of compromise in quality productions; suppliers to sub-contractors integration; customer feedback in products delivered.
  • Tracing of pricing and cost over Rate on Investment with Rate on Return

Capabilities Attuned to Global Business

Sage X3, thus is the most sought automation software which ensures unparalleled business growth and expansion globally. Already adopted by thousands of organisations in more than 50 countries, it offers top-notch tools catering to the business needs of each enterprise. It’s open design enables a flexible option to meet new challenges attuned to the changing countrywise regulations and manage customer services promptly.

Business in this digital age reiterates the saying – ‘Time is money.’  

Every entity or business in this world grows on its consistent performance, archive of credibility and the minimal timespan taken in successful transactions, mould to everyday changes in multi-dimensional market trends and jurisdictions. Efficiency in current times is measured in terms of speed and performance rates. So, the best way to assess the capabilities of Sage X3 is to hear it straight from word of mouth and endorsed by the one who has experienced its functionality.

Dr Mark’s HyGenie is a growing mid size startup with a potential to expand globally for its simple solutions in the common yet problematic cleaning of dental appliances. Let’s hear what they say about Sage X3 –

Steve Plakotaris, is the CEO and Managing Director of Dr Mark’s HyGenie who says –

“…..we were seeking an ERP that allowed us to integrate new business entities and manage them in a single platform. 

Processing Amazon orders is now quick and easy with Sage X3. We can now simply drag and drop the CSV file into Sage X3. It takes about 25 seconds, as opposed to around 3 minutes previously. This efficiency boost has helped us avoid the cost of hiring an administrative assistant.

Sage X3 has allowed us to automate our entire ecommerce sales process.”

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Handling Multi-Taxes with Sage Intacct

What are the major concerns in financial management of Multi-taxing in midsize or large Global enterprises? What solutions are expected and needed in the complex multi-entity, multi-currency and multi-taxing environments? How sage Intacct has been successful for the 5th year in a row, in evolving cloud solutions to meet and resolve all the criteria of the digital business organizations?

Overview of Requirements

In the current Digital Global era, thousands of organizations are spanned across multiple domestic states, multiple countries and even multiple continents. Financial management requires a complex chain of integrated calculations, consolidations, audits in each aspect of transactions or workforce. 

Right from inventories of stock, payrolls, invoices, assess revenues and liabilities etc, the major issues are: 

  • transparent, multi-dimensional, error-free visibility in reporting and audits
  • payability across precise conversions to multi-currency for each transaction 
  • most importantly accurate multi-taxing in compliance with the jurisdictions of each location.

Multi-Taxing

Every transaction in a business involves end-to-end tax liability like use tax, sales tax etc. For example transactions with India require compliance with centralized domains of VAT, GST etc. But if we take transactions in or with Canada, the compliance has to be an integration within the multiple jurisdictions of territorial as well as provincial taxes – in short the Form T2203. Compliance with the taxation at each point of sale calls for a complex integration of accountability, calculations, invoicing and deployment. 

Sage Intacct Software

It is a core cloud software for multi-dimensional Financial management which has evolved in different domains since its inception in 1999. Developed by Odysseas Tsatalos and David Chandler Thomas, the software has won many accolades in terms of awards, recognitions and is the only one endorsed by the AICPA.  The software offers tailored business management suites streamlined with each aspect of business accounting and workforce integration. 

What sage Intacct offers

The functionality and provisions of this can be concised with Intacct as an acronym:

In – Inventories (multi-entities), Invoices, Integration (centralized)

T – Tracking Transactions, Taxes, Taxability (compliances)

A – Audits, Accounting (multi-dimensional), Accuracy, Assurance ( all simplified)

C – Calculations, Centralized reports and visibility (across multi-entity, multi-currency)

C – Consolidations, Compliance (end-to-end multi-taxing)

T – Time management, Timelines (multiple)

Tax Compilation

Capital management of multi-taxable proceedings of different entities at both points of each transaction, demands:

  • End-to-end tracking of changing taxation on each entity and deals and 
  • Generating invoices in compliance to each end-user tax liability as per the legislations of the concerned entity, province, nation, continent etc.
  • Ensuring accuracy and precision in all calculations and consolidations
  • Transparent centralized integration of multi-dimensional taxabilities for prompt reports and audits
  • Meeting timelines in different time zones – consuming minimum time for maximum  profitability.

Sage Intacct not only complies with all the above requirements but also customizes the cloud software in terms of the scale of complexity and size of the enterprise. It credits itself with at least 4 feature-rich updates every year.

Cloud Nine Multi-Taxing with sage Intacct

The reason for its endorsement by AICPA and the recognition as the best software for financial management in Global organizations is its automated and flexible usage. The complexities of end-to-end taxability has been packaged into a very flexible platform.

  • The automated tracking the changing laws of taxation allows a hassle free updation and accounting
  • The User-friendly, unified core built-in infrastructure ensures not only a cloud 9 multi-dimensional management but also cloud accuracy and visibility.
  • Visible growth in the rates of auditability and profitability due to its rapid updates and reports adds to the professional credibility of the organizations streamlined through sage Intacct.

In a nutshell, sage Intacct architects the complexity of multi-taxing into a simplified hassle-free Cloud Nine experience with the Impact features scaling new heights each year.

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How do you minimize waste in the food and beverage business?

Food and beverage business is one of a kind industry that makes more profit but with a lot of effort involved when compared to other industries. However, the most crucial part of management is all about handling wastes associated within the process. The food supply chain becomes more sustainable when the waste management is done right. It is normally considered as an overhead cost by the decision makers and seems to be low in fraction. But the truth is, waste unnoticed has a greater impact on the bottom line of the business. Once these get traction in the decision making process, it can make a heavy movement towards upward growth. 

It is always easy to advise but to say how to do it, needs a master in that industry. Because, the operational actions to reduce wastage involves right planning and orderliness. Having said this, we are here to help you to understand the ground reality with the right key to solve the issue. The first step all you need to improve efficiency is that you need to find where the lag is. We are discussing the problem areas and the management tips to solve them.

Overstocking

The Food and Beverage Industry does not see a steady supply and demand, it usually faces violent fluctuations. It’s always been a problem to ensure appropriate stock levels. Maybe we cannot increase manufacturing speed that ends up in raw material spoilage or sales might cause your finished product to remain at the warehouse. 

The ability to foresee consumer demand with high precision reduces overstocking thereby reducing waste. Therefore making use of good business intelligence software to accurately forecast the demand can actually be an immediate solution to reduce wastage. Sage X3 comes with that kind of robust technology with business intelligence to help you reduce overstocking. 

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Cross Contamination

During manufacturing or logistics, cross-contamination may happen through mishandling. There may be allergens or microscopic particle leaks out to the ingredients. This is the most important factor to consider because even a small leakage may have an adverse effect on bulk stocks. The problem is being addressed in every manufacturing unit and a solution is still under development.

It can be a warehouse or the process units, unless the protocols and SOP are set at high standards, cross-contaminations are unavoidable. The commitment to safe food handling relies on actively tracking the operations and distribution. Sage X3 has it all! The tracking functions in sage, for e.g. allergen tracking system makes it to track and warn to move out before they get spoiled.

Production Loss

These are inevitable losses which would need awareness but cannot be 100% eliminated. It may be the residues on equipment, or spill outs that are considered to be negligible. Practically, these wastes are  not negligible but tracking this right will have a considerable impact on loss reduction. 

Production losses are always unavoidable but in that case, having a clear picture of where exactly the losses are, help to innovate better or to take necessary actions. Henceforth, awareness about food waste is more important. Sage X3 tracks the entire process and enlightens about the losses occurred during the process. This insight is yet another seed to reduce wastage 

When it comes to wastage or loss, it is because of non consideration. Moreover, it is not negligible, it is because of a lack of systematic approach towards tracking. When a timely forecast is made, overstocking can be traced, the most unknown production loss identifying where the loss actually occurs is exactly traced. Even though the production losses are non-mitigatable, enlightenment about the system to the decision makers, allows them to strategically approach further losses. Sage X3 built with robust technology has traceability tools which are user friendly with high precision. 

Sage X3 is a tailored fit software offering unique advantages in the food and beverage businesses. Expiration management, bulk stock management and process information are few important features of Sage X3 that allows you to automate and process without you in place to manage everyday. The data and the insights that are available at one fingertip makes it a user friendly option to resolve waste management challenges. 

To have a practical experience, visit the https://iwigroup.ca/software/sage-x3/ and get a free demo. 

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3 ways to enhance your inventory management in the Food & Beverage Manufacturing industry.

Let’s first establish the importance of inventory management. The covid-19 pandemic has affected the food and beverage manufacturing industry globally, with unpredicted lockdowns globally along with supply chain issues resulting in chaos and fluctuating customer demand.

Between 2020 and 2022, sudden spikes in demand for certain products have occurred. Food and Beverage manufacturers have been forced to cater to the dynamic fluctuations in the market by increasing supply and modifying inventory in unprecedented ways.

The Food and Beverage Manufacturing (F&B) industry has one very relevant characteristic: almost all stock is perishable. Consequently, the supply chain must be managed such that prompt delivery and consumer safety are of equal importance.

Efficient and effective F&B Manufacturing supply chains require end-to-end inventory management where the flow of goods is managed all the way from the manufacturer to the warehouse to POS.

This includes the administration, management, warehousing, and processing of finished goods, raw materials, components, and end products. To improve your inventory management it is, therefore, necessary to have complete control and visibility of warehouse operations and physical stock. Here are three practices that you can apply that will streamline and improve inventory management.

1.  Evaluate your current workflow and process

Efficient inventory management is purpose-driven. Examine the details of what each link in the chain does. This will provide insight into specific aspects of the system that may need improvement.

Collaborate with members of your team to identify potential problem areas and then work on a plan to address them.

For example, in F&B Manufacturing, there are typical areas where waste occurs, and these represent areas that you could begin focusing on right away to improve inventory management:

  • purchasing, and logistics
  • Use demand planning and modeling tools that support just-in-time production to avoid maintaining excessive inventory
  • Eliminate wait times by granting staff with required access to streamline decisions and approvals with automation
  • Ensure machinery is up-to-date and working in the most effective, productive, and efficient way
  • Have controls in place to eliminate defects. Acknowledge where there are showstoppers and eradicate them at the source

2. Perform routine stock checks

Critical information involved in inventory management includes knowing exactly how much of each item is available in stock.

Simply tracking what was purchased against what was sold does not guarantee the full picture. Food and Beverage products can get lost, stolen, or damaged after they have been registered at the warehouse.

Lost items may go unreported until the right person becomes aware, many times after mistakes in procurement and purchasing have already been made.

Remedy this problem by regularly reviewing physical inventory for comparison with current records.

3.  Study customer behavior and leverage the benefits of big data

One of the benefits of using big data is the ability to make accurate predictions. Customers often display different purchasing patterns for Food and Beverage products depending on the time of year.

Many purchasing patterns may be obvious for example, seasonal holidays such as Thanksgiving, Christmas, and New Year. However, there are also circumstances where businesses won’t be able to recognize specific patterns without some form of data analysis. To assist consider performing some best practice analysis of inventory:

  • Always keep track of how often you are restocking selective items and try to identify any pattern or trend that may or may not be seasonal and may be due to other external factors that affect your product flow
  • Study the peaks and valleys in customer orders. Understanding customer behavior allows you to avoid over and under ordering, enabling optimal inventory balance
  • Big data means managing a lot of data, therefore, the more data that can be analyzed the better. Keep all inventory data, even data that has been archived for long-term storage. Big data analytics can be very effective for inventory management, even flagging problems that you didn’t realize existed

If you don’t have a system in place that helps you address all these practices, Sage X3 is your answer! Talk to one of our experts at IWI Consulting Group and we will be happy to schedule a demo and provide a product tour that will help you understand how Sage X3 can help you optimize your inventory management.

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Why are Businesses choosing Sage Intacct over other Solutions?

Why do Businesses Choose Sage Intacct?

One of the most important business decisions for any organization is deciding which business management solution to adopt. Sage Intacct is a leading cloud ERP solution and is particularly popular with small to medium-sized businesses.

As a solutions partner, IWI Consulting Group helps growing businesses implement ERP solutions every day. By employing an effective discovery process, IWI Consulting Group is perfectly positioned to uncover crucial insights into an organization’s unique requirements based on its growth strategies, challenges, markets, and information management. The choice of ERP solution is so important because choosing the right solution directly impacts whether the business will climb the ladder to ultimate success and mastery.

Why is Sage Intacct so popular with burgeoning small to medium-sized businesses? Here are four of the most common reasons businesses choose Sage Intacct:

Reason1: Licensing Flexibility

One of the most important features cited by businesses about Sage Intacct lies in its licensing flexibility. Not all users in an organization require the same level of access to Sage Intacct.  Sage Intacct offers licensing options that range from users requiring full access to casual uses that don’t require full access. What this means is that an organization needn’t pay the same licensing fee for a user that only requires access on an infrequent or limited basis as a user that incorporates Sage Intacct in every aspect of their workflow. Essentially, with Sage Intacct, the organization only pays for what it uses!

Reason2: Cloud-Native Implementation

A cloud-native solution has many benefits. With a cloud-native solution, there is no need to install software on servers locally and then maintain those servers and software. It is a fully-managed service and thus Sage takes care of all the underlying infrastructure, so you don’t have to. With a cloud-native solution then, hardware maintenance is a thing of the past. So there is the ease of maintenance, and your organization is assured of a highly available, reliable, and scalable solution.

Reason3: Partner Integrations

Sage Intacct’s flexibility extends to its integration capabilities. Sage Intacct Marketplace integrates with over 200 partners for a comprehensive and extensible solution that meets the various requirements of every business and helps future-proof your business as your business requirements change and grow over time. Sage Intacct integrates with partners that help with payroll, point of sale, tax management, time and expense, CRM, e-commerce, inventory management, finance and admin, and business management. Over 75% of Sage Intacct customers have seamlessly integrated multiple Marketplace solutions!

Reason4: Flexible and Powerful Chart of Accounts

Most solutions implement a hardcoded structure for an organization’s chart of accounts. Consider, to track 4 locations, 5 departments, and 5 projects, an organization would require 100 account code combinations! The result is an overly complicated and unwieldy set of codes. Furthermore, if a new location or department needs to be added, it could wind up forcing the business to add hundreds of accounts. Instead, Sage Intacct helps simplify your organization’s chart of accounts. All that is required is that your business configure a set of primary account codes. Sage Intacct supports tagging transactions and operational data using dimensions, offering a unique and flexible way to track and report data, while simultaneously simplifying the organization’s chart of account. By tagging with dimensions rather than using hardcoded accounts Sage Intacct supports adding metadata and context to your business’s data. Once created, a dimension may be used for any transaction.

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