How to Protect your Business in Case of a Tax Audit

In the latest issue of Manufacturing Today, Mary Floate speaks to Rob Sinfield, VP of Product at Sage, about getting manufacturers ahead of the curve so they are not chasing but are actually setting trends. GETTING AHEAD OF THE CURVE IN MODERN MANUFACTURING Rob Sinfield, VP Product, Sage, ended up in the ERP industry almost by mistake. “I started out thinking I was going to change the world as a risk manager and auditor, but realized pretty quickly that it wasn’t what I wanted to do. I worked for a global manufacturing company initially and several subsequent moves later, decided that I wanted to get behind the scenes and cross over into software implementation. I felt there was a misalignment between software vendors’ product and the operational capabilities in the hands of the customer. In the past, frameworks often required a huge amount of technical knowhow from a customer perspective, in terms of day-to-day implementation. I wanted to move away from that scenario to be able to deliver capabilities that could be readily and easily deployed.” As VP of Product, Rob is responsible for the design, development and delivery of software solutions to manufacturers and distributors. “I look after a number of different teams that are focused on creating tailored customer solutions to ultimately deliver on our promises. Another aspect of my job is to look at what is happening form a policy and trend perspective. My goal is to get manufacturers ahead of the curve, so they are not chasing but are actually setting trends”, he explains. In terms of trends and current challenges facing the sector, Rob breaks them down into three distinct areas. “There are technological, macro-economic and perspective challenges that manufacturers face. All three areas of challenges need to be considered, but not in isolation. Legislation and societal trends are driving technological changes, and macro-economic circumstances are impacting all of them. So, it’s the perfect storm, but it’s not all bad. There are some really great things that are going to out of this as well. To read the full interview, check out the March issue of Manufacturing Today (pages 10 – 15). For questions about how Sage X3 can further help your manufacturing business, contact us.

As more and more companies continue to invest in ERP as a strategy for business growth, getting the most from their IT investment becomes a major concern for many organizations. In maximizing the returns on ERP investment, the key is for organizations to be proactive. Most organizations before implementing a business management solution would have already defined their business goals. In addition to ensuring that the ERP purchased has the right features and functionality needed to meet those goals, companies must also implement the solution in an efficient and effective manner and develop metrics to determine how well the system delivers on its objectives. To reduce the risks and hassles that come with implementation, including technical, security and date management risks, companies need to use a proven methodology that ensures the ERP solution is put into operation as quickly as possible. The right strategy will also help ensure that the ERP implementation is on time, within budget and fully addresses the organization’s business objectives. You can’t improve what you can’t measure Developing metrics that correspond to business objectives and using those metrics to measure progress is key in maximizing ERP ROI both initially and over time. Unless the results of ERP solutions are measured, organizations will never know if their business processes are getting better or worse. Defining key performance indicators [KPIs]) that needs to be measured is crucial to determining the success of an ERP project. The right KPIs should reflect strategic value drivers and align all business units, departments and individuals with clearly defined targets and benchmarks to create accountability and track progress. When determining which KPIs to use, businesses should measure both factors that are of particular interest to their business and adopt overall vertical industry metrics, so they can compare their performance to that of other companies in their industry. A trusted advisor such as Net at Work with expertise in a wide range of industries can help your organization pick out the right industry-specific KPIs. For more tips on making the most from your ERP investment, download our whitepaper.

Businesses in the cosmetics industry face a number of obstacles when it comes to keeping their costs low and their profits high. There’s a remarkable amount of competition in the industry along with the pressure to develop and release new products at a rapid rate. The best way for cosmetics companies to stay on top of these challenges is to streamline their supply chain and come up with solid distribution methods. Find out how Sage X3 can assist with supply chain management to make cosmetics business more efficient and profitable than ever before. Keep Data Up to Date With Sage X3, you have the ability to seamlessly track every product in real time. When any member of your team enters or updates information, it’s automatically tracked across every system to make sure that no pertinent details are lost along the way. A single entry provides reliable, up-to-date data to all involved departments. This software acts as the central hub for your business thanks to cloud functionality that allows information to be accessed anywhere at any time. From steps of development, creation, and shipment to the moment it arrives at its intended destination, you can check in to see precisely where your products are in the supply chain. You can view your inventory at a glance and zero in on which product, colors, scents, or sizes are running low or performing well. Sage X3 also allows you to receive automatic alerts for any issues that arise so that they can be addressed and resolved quickly. By taking advantage of this feature, you can reduce time to market and improve productivity. Gain Insights Into Your Business Sage X3 allows you to access in-depth analytics on demand so you can see precisely where your supply chain and distribution methods are thriving or lagging. Use the real-time visibility mentioned above to pull together up-to-date reports that will help you make critical decisions in regards to your business. Sage X3 features intuitive intelligence tools that make it easier to analyze data across all departments, including sales, purchasing, manufacturing, inventory management, and delivery. When you have important meetings to attend and need to present information to your team, these tools provide the assistance you need to summarize and clarify important data. Use graphical representations of key statistics to help drive decision-making across your business. Recognize and Capitalize on Trends One unique thing about the cosmetics industry is that trends are always changing. Most cosmetics industries have to constantly develop new products in order to keep up with their competition. Sage X3 makes it easier for cosmetics companies to do this by making it possible to manage an incredibly diverse inventory of products. Use Sage X3 to look closely at how each of your products is performing. Look at weekly or monthly overviews of your distribution numbers in order to look for particularly high- or low-performing products. You can even have these reports automatically generated to help you stay on top of the latest trends in the beauty industry. Sage X3 keeps key data for decision-making at your fingertips. Contact us to learn even more about how this software can streamline your cosmetics supply chain and distribution.