I wanted to share an update on what EstesGroup is doing today to keep our community safe and our delivery services moving forward, as well as specific steps we are taking to continue to deliver the solutions your business relies on. I encourage you to regularly check our website, which contains the latest operational updates and links to additional information on specific events. We will also be reaching out individually to clients and partners over the next several days.
EstesGroup Continuity and Wellness Activities Update
Remote Work Tests As part of our ongoing preparedness with respect to the COVID-19 spread, we are activating business continuity plans to continually test various teams’ remote work capabilities. This is done to ensure we maintain service levels and resolution times, regardless of where our teams are physically located. We were founded as a remote-work company, and we have refined our tools and procedures over the past 16 years of operations. As such, we feel confident that we can continue to deliver the exceptional remote service you have come to depend on from EstesGroup.
Limited Travel In line with CDC recommendations, we have decided to limit much of our team’s travel schedules. Our teams are ready and able to conduct most of our delivery work virtually, as they have for many years. While we’ll miss our face time, we feel this is the right choice to support the health of everyone.
Remote Delivery Enablement Some of our clients have asked for assistance in preparing their teams for better remote and home-based work, including security, access, backup, and remote connectivity. We welcome any questions you may have or assistance you may require in helping to make your remote working environments as efficient and effective as possible.
Health and Safety Finally, the health and safety of our colleagues, their families, and our communities are the highest priority. We continue to encourage everyone to follow the preventive measures recommended by the CDC to stay healthy and slow the spread of the virus, including:
Clean your hands frequently
Avoid touching your face
Stay home if you feel ill
EstesGroup is well-positioned and prepared to work through this pandemic. Although we feel our plan is good for our partners, our colleagues, and our community, confusion may arise as we move through this situation. We ask for your patience as the situation progresses. Please feel free to reach out at any time with questions or concerns.
Right on the Money: Epicor Prophet 21 for Rebate Management
Achieving profitability through distribution management software has never been easier. With the technology available in Epicor’s Prophet 21, automation can quickly optimize workflow across the distribution spectrum. In the critical area of rebate management, Prophet 21 rebate management modernizes supplier administrationby streamlining the process of tracking and collecting. This, in turn, minimizes administrative costs and maximizes overall profitability for your business.
Prophet 21 Leaves No Money on the Table
With Mardi Gras upon us, if you were a Mississippi gambler playing your odds on one of the French Quarter’s finest felts, you’d want to maximize whatever deals were available—without showing your cards prematurely or leaving any money on the table. In a similar shake, the key to successful rebate management lies in the ability to define a robust set of conditions basedon varying supplier parameters. This allowsfor automated downstream processing and transactional accuracy. This minimizes the internal costs of administering rebates, while maximizing those available. Prophet 21’s vendor rebates support a similar strategy of capitalizing on what’s available, leaving no money on the vendor’s proverbial felt.
Prophet 21 Makes Payables Playable
Because Prophet 21 is a highly configurable application, it can meet the needs of a variety of different vendor scenarios. Setup for rebates begins with the overall system settings. The System Settings form allows users to configure enhanced rebate functionality. Under the general settings within the Account Payable business area, “Enhanced rebate functionality” can be enabled. This sets the stage for further downstream system configuration.
Financial settings are made at the company level, where default general ledger accounts for rebates and rebate allowances are defined. Subsequent settings occur at the vendor and customer levels. Prophet 21 rebate tracking can be enabled for individual vendors—and this allows P-21 users to differentiate between rebate-applicable and non-rebate-applicable suppliers. Further settings at vendorlevel enable the user to override the rebate and the rebate allowance accounts defined at the company.At the vendor level, rebate variance-handling settings can also be defined. At the customer level, the default rebate location can be optionally defined.
The jackpot of P-21’s automated rebate functionality resides within the Sales Pricing pages. A number of possible rebate methods can be defined within these screens, including the following:
The Value Method: This specifies a cost-after-rebate value, which is subsequently compared to the base cost at the time of invoicingto determine a rebate amount.
The Multiplier Method: This allows you to specify your costs as a percentage of the primary supplier cost, with the remaining value at time of invoicing resulting in your rebate.
The Flat Method: This allows for a flat rebate amount to be placed against the supplier cost.
When automated rebate capture is not possible, you can determine manual rebates through Prophet 21’s Manual Rebate Entry screen. For payments, P-21 supports check and debit memos, which are applied with the AP module as if they were cash receipts. Beyond automated and manual rebates, Prophet 21’s EDI solution supports outgoing rebate requests to vendors and incoming rebate payments from them. And in the event that a rebate needs to be reversed, the Rebate Reversals screen allows you to completely reverse the original posting.
Prophet 21 Means You Don’t Have to Gamble to Grow
Epicor Software Corporation has a strong reputation for providing powerful functionality for the distributionindustry. With real-time tracking and optimal automation, Prophet 21 immediately boosts profitability and enables further success by bringing cloud and e-commerce technology to any distributor looking to grow or transform business. With fast implementation at minimal investment, Prophet 21 ERP allows you to keep your purse strings tight and leave no money on the table.
If you’ve recently decided to implement an ERP system like Epicor ERP at your company, you have a couple of options for where to deploy the system. You can either have it hosted on your in-house server or it can be hosted on a cloud server. Here is a look at each of these options.
In-house servers are a more traditional route to providing the software your team needs to get its job done. The server is physically located at your place of business. Some of the reasons why this is still the best answer for many companies include:
You maintain complete control of the server. You are not reliant on the cloud for your security, but rather are able to find a custom solution to handle your security needs on your own
You can upgrade your system any time you’d like without paying additional hosting fees
All of your critical data remains in-house, with no access by third-parties
Unfortunately, there are some downsides to in-house hosting as well, including:
A large upfront investment in hardware and infrastructure
Space for your server room is required, as well as IT support
You have no guarantees regarding uptime or the time it takes to recover your data
You are responsible for backing up your data and you may be more likely to suffer data loss if there is a disaster in your area
Hosted Cloud Servers
Hosted cloud services allow you the opportunity to have access to the same software you would use with an in-house server, yet the software is accessible in the cloud. The benefits of host-based cloud services include:
The ability for your staff to access files even when they’re out of the office. Cloud-based services are available anywhere where there is an internet connection
You avoid the stress and expense of maintaining an in-house server, including the expense of having IT staff
Your host provides security, a disaster recovery plan, and an uptime guarantee
Hosted cloud services are scalable, meaning you pay for the services you need, when you need them, rather than shelling out money for services you don’t need simply because they were available in your big-box solution
You can initiate backup and restore processes from anywhere. Data on the cloud can be backed up in intervals as short as every fifteen minutes, which minimizes the potential for data loss
Your host will provide upgrades when they become available, ensuring that you’re using the newest technology available
The downside to hosted cloud servers includes:
The inability to access your files if your internet is down
You must pay a monthly hosting fee for the service
You may be limited on the amount of data and files you can store due to storage availability and cost
Which is Better?
Which solution is best for you depends greatly on the size of your business, the potential for growth, and the industry you’re in. If you have limited funds for investing in IT staff or infrastructure, or you don’t want the stress of maintaining your own server, a hosted cloud server may be the ideal solution for you. However, if you wish to be in control of your server, or if you deal with a lot of sensitive information — such as customer health records or financial data — and don’t feel comfortable with allowing a third-party to access that information, you may fare better with hosted services in-house.
EstesGroup is pleased to provide expert assistance in determining whether your business is best served by hosted cloud services or hosted services on your in-house server. Contact us today so we can begin exploring your options with you.
Download our Epicor ERP On-Premise (In-House) vs Cloud Hosted Calculator by filling out the form.
The A&D industry is facing growth and dynamic change. In striving for quality and status, it is facing challenges in maintaining both. From the procurement of raw materials to the introduction of new technologies that will impact production (and everything in between), there are industry-specific challenges that manufacturers must face. Fortunately, there is ERP software that has been developed for use in the Aerospace and Defense Manufacturing industry that can help with those challenges.
AS9100 and ITAR Compliance (Dynamic Compliance):
The rigorous demands of the regulatory environment aren’t going to go away anytime soon. Your ERP software has regulatory features built-in throughout, providing you with enhanced traceability and audit management that not only assists you in achieving compliance but helps you prove that you’re compliant, as well.
Supply Chain Risk Management:
An A&D company’s supply chain is always at risk due to factors such as unexpected shifts in demand, last-minute design changes, and even political shifts that can make it difficult to procure the raw materials you need. Your manufacturing ERP can provide you with the visibility of your supply chain that you need to monitor, respond to, and manage supply changes throughout the production cycle.
Supply Chain Complexity Creep:
Introducing new technology into your production cycle can result in what’s known as supply chain complexity creep. This is a slowdown of your work processes as workers learn the new technology and master its integration into the supply chain. Your ERP for A&D manufacturing helps to alleviate complexity creep by providing you with the ability to monitor and analyze the data generated from every step of the process so you can make quick decisions based on real-time information.
Product Lifecycle Management (PLM):
In an industry as complex as A&D manufacturing, you need the ability to manage all of the information required at every stage of the product’s lifecycle in order to manage your processes cost-effectively and within compliance. Your ERP system should provide powerful PLM capabilities to handle a massive range of processes and even the longest of product lifecycles.
The Aerospace & Defense sector has particularly complex processes that are marked by stringent regulations, rapid changes, and intricate engineering. Thankfully, EstesGroup has your need for a highly adaptable ERP system covered. For more information, contact us.
Cloud-based computing allows users to access their software applications on shared computing resources, thus avoiding the costs of managing and maintaining their own data center. It’s an ideal option for those who need guaranteed up-time and want the most up-to-date software applications available. More and more business is turning to cloud ERP software as well, as it provides the anywhere-access of all cloud applications and features a lower up-front investment.
What Is Cloud ERP Software?
ERP software integrates your business processes to foster automated workflows and provides you a full view of all of the various aspects of your business that make it work, including sales, finance, and production. The only major difference between cloud ERP software and on-premises ERP software is the physical location of the software. However, if that physical location is at the vendor’s data center and made available to you through the internet, you are able to access the software from anywhere.
The History of Cloud ERP
ERP software is now entering the phase where data is flowing freely across all aspects of a business and providing the ease and precision of automated workflows. It wasn’t always that way, however.
In the early 1960s, the original ERP was the pioneer computer system installed at a manufacturing plant in order to track materials. Two decades ago, business solutions were maintained on space-eating machines on premises of all types of businesses. ERP software was sold in large, cumbersome packages with questionable functionality.
Customizing that software required hiring someone to configure it through millions of lines of software code. If you had a problem, it would take a team of engineers to figure it out.
There were a number of issues that necessitated the progress of ERP to the cloud. The biggest of those issues is that the expense of the data center, the IT team, space for the computers, the computers themselves, the code writer and the engineers caused the powerful benefits of ERP software to be little more than a dream to everyone but the largest and most profitable companies. Further, the processes of inputting and accessing the information left little room for alternatives, and noncompliance with procedures was high as frustrated employees refused to conform to the system’s process changes.
Benefits of Cloud ERP
In addition to providing a cost-effective solution for businesses of all sizes, without the demands of on-premises deployment, cloud ERP offers many other benefits, such as:
No upfront software licensing fees
The vendor handles all software updates and upgrades, meaning you and your employees always have access to the latest versio
Access to your data wherever you are
You pay only for the cloud services you need and you’re easily able to add more as your business grows or your needs change
A fixed monthly rate for the software that you rely on
Data is backed up regularly and there is a disaster recovery plan in place
Your vendor provides data security and your vulnerability to attacks is diminished, as your data is not located on premises
A limited amount of time is needed for implementation, meaning you can take advantage of the benefits of your cloud ERP a lot sooner
Why Cloud ERP Is Right for Your Business
Is your business in the process of growing and, therefore, requires a scalable solution? Do you have limited funds to invest in hardware, software, and IT personnel? Do you want guaranteed up-time and the knowledge that your data is recoverable in the event of a disaster? Do you want the peace of mind that comes with knowing exactly how much you’re going to pay each month for the business technology you require? Are you ready to start using your ERP system as soon as possible? If you answered yes to any of these questions, then cloud-based ERP is a great solution for you. Contact us for more information.
Want to know if EstesCloud Epicor ERP Hosting Makes Cents for your company? Download our free Epicor ERP On-Premise vs. Hosting Calculator