Month: January 2021

The role of ERP is undeniable in today’s business world because this integrated system helps a company to store all their imperative information of all departments, processes, operations, etc. safely and securely.

The prime objective of an ERP software is to integrate all the business process and operations (including accounting, marketing, manufacturing, human resources, and so on) and this way it enhances the productivity and efficiency of a company.

But a business needs to invest a chunk of money and effort for planning, training, and implementation of a sophisticated ERP system in the company.

Since the Cloud-based ERP system has penetrated in the market, so with the help of it even a small or medium-sized company can adopt a sophisticated ERP system for their betterment.

And most importantly, for this Cloud-based ERP implementation, the company needs to invest only a fraction of the cost with minimal resources.

Accounting plays a pivotal role in any business because it represents the financial status of the company in front of its contenders.

ALSO READ: Guide on Tips to Choose the Best Manufacturing ERP Software

You can consider accounting as a system which helps the organizations to take the right and effective decisions by measuring and summarizing business activities.

But many small and medium-sized companies in Saudi Arabia needs to focus on their core business activities so that they can sustain in this steep competitive market.

Moreover, they don’t have adequate resources to manage accounting activities professionally.

Here enters the Cloud-based accounting ERP software which enables taking data off of paper and out of spreadsheets and into the cloud.

These cloud accounting software solutions help Saudi businesses to opt for cloud-based ERP solutions for the betterment of their businesses.

Cloud-based ERP account software simplifies your manual workflow, extirpates errors, and helps the employees of Saudi Arabian companies to focus on their core business activities which can help them to thrive in the market.

Finally, the Cloud-based accounting ERP streamlines all intricate and complex processes by automation.

These software solutions also help you to save a chunk of time which you can invest in another way.

Companies which are adopting cloud-based accounting software require less initial server infrastructure to store data.

Moreover, they don’t need much IT staff and manpower to maintain it or update the cloud accounting system.

With fewer overhead expenses and no new software purchases, this cloud accounting software saves a lot for the businesses.

But for the rest of the world, the scenario is completely different.

When a company grows, they need greater software license and higher maintenance costs as well as new licenses and fees for database, systems management and other software solutions.

ALSO READ: How Do ERP and Cloud Computing Differ? 

Best Accounting Software in Saudi Arabia

The market is very throbbing in Saudi Arabia and hence, companies (irrespective of their sizes) are trying to use the best accounting software in Saudi Arabia so that they can stay ahead of their competitors.

Choosing good and effective accounting software is a tedious job for all entrepreneurs in Saudi Arabia.

Small and medium companies that decide to keep records of their own business independently need an accounting cloud project management software that will save time and also lessens the costs.

Choosing the best online accounting software for your businesses could be a very daunting task, as the suitability of one or the other applications depends on a plethora of factors, especially user needs, preferences usability, and compatibility with other programs.

ALSO READ: Influence and Importance of ERP System in Different Industries

How to Choose a Cloud-Based Accounting Solution for Your Business in Saudi Arabia?

Not every company in Saudi Arabia owns an accounting ERP, but most of the medium and large companies have an accounting ERP.

At the initial stage, all the companies face a dilemma about whether to develop their own ERP or use an existing one on the market.

The recent trend suggests that most of the companies are willing to prefer the use of existing ERPs in the market.

They usually integrate some additional modules (specifically needed for the company) to the existing one.

Still, many companies in the market that use own ERP.

ALSO READ: What is Negative Inventory and How Can you Prevent it?

Once the company has chosen an accounting ERP (either own development, or from the existing one in the market), the next difficult stage is to implement the ERP within the company.

An ERP is a form of work and organization of data that will have to adapt the employees and executives of the company.

To choose an ERP accounting solution, a company must consider various factors like the degree of specialization, the size of the organization, the scalability of the ERP, security and many more.

Most Used Accounting Software in Saudi Arabia?

Are you looking for the most used ERP accounting software in Saudi Arabia?

There are many ERP companies in Saudi Arabia who offer the best ERP accounting solutions to the companies.

The most used accounting software solutions in Saudi are Tally solutions, Peachtree, Solution Dot, SAP, Oracle, Tranquil and Infor LN.

ALSO READ: What Are the Different Ways to Improve the Procurement Process?

Advantages of Cloud-Based ERP Software Solution

Cloud-based ERP solutions have a plethora of advantages over other solutions.

That’s why businesses in Saudi are opting for these software solutions.

Let’s check out some of the advantages of ERP software solutions.

• Budget-friendly: These software solutions are quite affordable which means they will never burn your pocket. These software solutions are ideal for small and medium-sized companies where budget is a constraint.
• Access anywhere: You can access this software anytime anywhere with any device. This is the key feature that today’s businesses demand. Cloud manages everything without a glitch.
• Increase productivity: This software helps you to collaborate with all. And thus, it automatically increases the overall efficiency and productivity.
• Scalable: This solution is highly scalable which means you can do any changes or add new technology seamlessly as the business grows. This can be done quickly when required without engaging the resources.

ALSO READ:  Benefits of Integrating E-Commerce and ERP

Is Your Data Secured with Cloud-Based Accounting Software?

Cloud-based accounting solutions provide a secure method of storing all imperative financial information than other solutions.

For example, if a company owns several computers or laptops which are thronged with critical financial information, then this could be lost or stolen.

If this happened then it can lead to an information breach.

On the other hand, cloud-based accounting leaves no trace of financial data on computers or laptops of the company.

All crucial data that is stored in the cloud is encrypted and password protected.

ALSO READ: What Is Cloud Data Protection?

Sharing data is now a simple and facile job.

With cloud-based accounting, two people need access rights to the same system with their unique passwords.

Lastly, cloud providers usually possess backup servers in two or more locations.

If one server network goes down, you can still access your data.

The information which is stored in the cloud can only be destroyed or damaged in a fire or natural disaster.

Now, you have enough idea regarding how cloud-based ERP solutions help businesses in Saudi Arabia to proliferate in the competitive market.

ALSO READ: What are the Reasons for ERP Failure?

Tranquil is a prodigious IT company which offers the best cloud ERP Saudi Arabia. The company embraces its clients with a wide range of ERP solutions including project management, inventory management, accounting management, procurement management, HR & payroll management and many more. The company is serving its clients ardently for more than 12 years and helps the businesses to run their operations in a hassle-free way by using various ERP solutions. To know more about our company and its products, just visit the official website.

If you want to kickstart to your businesses by using various ERP solutions, you should get in touch with us without wasting any time.

ERP software plays a quintessential role for every business because it can provide agility to accommodate the complex and emerging workloads.

That’s why businesses are highly dependent on this ERP software for their betterment.

But the markets are crammed with a plethora of enterprise resource planning system software solutions, hence it is a daunting task for you to choose the best ERP solutions for your business.

Because only the right enterprise resource planning systems encourage organizations to secure their sensitive business data and information safely.

By utilizing all these information businesses can make wise decisions which will help them to reach the success of zenith.

So, how to choose the right ERP software for your business?

You should consider certain crucial factors to make this process simpler and facile.

But before digging this, let’s take a look at different types of ERP software solutions that are available in the market.

ALSO READ: Questions to Ask Before ERP Implementations

Different Types of ERP Software Solutions

• On-Premise Software:

  This type of software is installed and controlled over its own physical location hardware. It is usually maintained by the installer.

• Hosted Software:

  You need to maintain this type of software yourself on servers that might be rented or owned. You can connect this software to the internet so that you can monitor it easily. Moreover, you can access it from anywhere in the world as per your requirement.

• SAAS (Software As a Service):

  This type of software is maintained and monitored by the software provider. You only get a license for using it for a certain period. If you have the internet, then you can easily access it from anywhere in the world.

What Factors Do You Need to Consider Before Selecting an ERP Software Solution?

An effective ERP software solution will conglomerate all the business processes and will help your organization to make data-driven decisions and uplifts business productivity.

You can consider a few solution software tools for handling different works of your organization.

For example, you can go for financial management to improve your control over the assets and accounting, CRM will provide you to maintain better customer relationships, project management software is ideal for monitoring your projects, and project planning software will help you to plan your projects deal with reporting, analysis and much more.

The Benefits of Using an ERP Software Solution

An ERP software solution offers multifarious benefits to your organizations.

• ERP encourages you to coordinate with other operation, partner, vendors and suppliers in collaboration or partnership.
• This software platform offers new locations, industries and geographies with fewer efforts.
• You can go for a single ERP solution and then, uplift it easily by as per your business needs and requirements.

How to Choose the Right ERP Solution?

This can be an appalling job when you are looking for the most accurate ERP solution for your business. But still, a few tips and tricks will help you to manage the situation.

1. Research as Per Your Need

This is the most vital approach before ordering management ERP solutions for your business.

You need to do some serious researches of your business requirements and needs.

You should make certain questions related to your business processes and internal review which helps you to outcast your contenders.

Make a detailed analysis of your reviews and research to find out what your competitors are doing and how they are meeting customers’ expectations.

Once you have identified the process, analyses it closely and calculated all the benefits, costs and payback period, you will certainly able to choose the right ERP software solution.

If required, you can hire an ERP consultant in this process to make it effective and simpler.

As per Panorama’s 2017 ERP report, 70% of companies who have implemented ERP software needed customized solutions for their businesses.

Therefore, you should consider those vendors who can meet your needs and requirements.

You should ask them to customize the product so that it can meet all your expectations.

ALSO READ: ERP Software to Enhance your Purchase Management

2. Be Cautious while Selecting the Right Vendor for ERP Solution

As per Panorama’s 2017 ERP report, near about 46% of companies who hired ERP vendors were dissatisfied, whereas only 21% were satisfied and rests were neutral.

So, you should be very careful while selecting the right ERP vendor.

• Your vendor’s experience plays a prime role while you are planning to implement an ERP software solution for your business. Because an experienced vendor will help you with the right system which will improve your organization’s productivity and growth. On the other hand, a novice implementation partner might not provide you with the expected results even when they deploy a highly sophisticated and delicate ERP system.
• Some vendors won’t provide after-sales support and service. They just disappear after selling their products. So, you should choose a vendor who has an exceptional after-sales support record.
• Every employee may not get comfortable with ERP software so ask your vendor to provide training sessions so that everyone can learn it.
• Ask your vendor clearly how long they are going to take for the implementation.
• To implement customized ERP software, vendors need to have a detailed inspection of your business processes. So, provide them with your requirements and business needs.
• An ERP software will certainly uplift your processes which will automatically increase monetary benefits, so it’s good to confirm benefit realization time.

If your company wants to customize online project management operations, then you should choose a local or regional ERP vendor as your budget is a constraint.

Moreover, they will provide better communication and support to your businesses.

ALSO READ: Guide on ERP Configuration vs ERP Customization

3. Choose the Scalable Software

This is another criterion that you need to consider while choosing an ERP project management system.

The prime aim of implementing ERP software solution is to enhance the profit and growth of your business.

So, you should prefer an ERP system that is scalable and can be upgraded to support the growing intricacies as the business grows.

If your system can be scalable, you don’t need to deploy new ERP project management tools and this can save a chunk of money and time for you.

4. Always Consider ROI, not Just Only Cost

While implementing ERP software, you don’t only need to consider the investment and price alone; you also need to think about ROI.

A comprehensive ERP software system manifolds business profits and efficiencies.

But if you go for a less-suited ERP software which is relatively economical or less pricy at the beginning, then you may need to do a lot of customization as per your business needs which can automatically enhance the cost.

ALSO READ: Guide on How Do ERP Systems Work

5. Local, Cloud, or Hybrid

Before implementing your ERP software, you need to decide what kind of platform you want for the software.

You need to choose between the local, cloud, or hybrid models.

Each platform has their own upsides and downsides.

For example, local installations demand a high investment.

On the other hand, cloud software systems need cautious integration evaluation and compatibility testing before data migration.

While hybrid systems with careful customization are apt for your businesses and they provide you with a practical solution.

ALSO READ: Important ERP Modules and Features

6. Planning for Mobile

Has your company implemented BYOD at your offices?

If not, then, you need to implement it soon to run everything in a hassle-free way. New age employees and Millennials are always seeking for the flexibility at their workplaces.

But implementing BYOD is not a facile job as it has many challenges.

So, you should choose an ERP software that is not only mobile-friendly but also has adequate security features so that all your sensitive and imperative data is encrypted and secure.

An apt ERP software is suitable to blend all business operations, automate data-driven processes, and performance together.

On the contradictory, an unsuitable or mismatched system has the capacity for enhancing errors, which can be tarnishing your market reputation.

When so much is at stake, you should meticulously choose the right ERP software solution for your business.

Tranquil is an eminent IT company which is specialized in ERP implementation. The company offers the clients in selecting the right ERP software for them which can suit all their requirements and needs. The company offers various project management software solutions and project management apps to the clients.

As a company, we are equipped with the best-in-class implementation techniques which can save your money, time, and effort. Our ERP software solutions will certainly generate a higher ROI for your business. To learn more about our company and its products, just visit our official website. If you want to simplify your business processes and make organizations more agile, you should get in touch with us as soon as possible.