Are you looking to improve your business productivity? Is managing your business inventory getting out of hand?
An effective inventory management tool can enable companies to swiftly take advantage of the changing market demands at substantially low prices. This will also assist in the proper functioning of the supply chain system which might change their potential customers into actual customers. The following strategies can help in improving business productivity through inventory management software to deliver better results: Categorize the Products The categorization of the inventory stocks is important. There are many products which a company tends to sell and holding them at one warehouse is a tedious task. Therefore, a user-friendly system of categorization is helpful as it classifies the items based on value and documentation. One of the most famous methods to do it is “ABC classification”. This system also keeps the inventory tracking system up to date. TYASuite catalog management feature can also help you to create catalogs for all your products which provides a point of differentiation amongst them. Integrate Mobile Technology By integrating your inventory with mobile technology, it will improve your business productivity effectively. This can also help in warehousing management by controlling and tracking the stocks and shipping them at the right time and location. It can also drive towards a better supply chain thus, in turn, improving customer satisfaction. Use of Efficacious Data Analysis Feature From time to time every company needs to analyze its inventory and requires forecasts for the future. A built-in analysis tool will speed up the process which will be fruitful for the profit margins of the organization. Also, the company can keep an update about the stocks to its increasing demand in the market through an inventory tracking tool, which will tell exactly when to reorder the products. Invest In Training Training your staff to work with the modern Cloud ERP software in a constructive way is essential. This will dramatically enhance the workflow and the results which you were hoping would be achieved in less time. This is one of the main strategies for improving business productivity as, without prior knowledge about warehouse management software, these staff members won’t be able to function properly; for only you to realize months down the line that you haven’t accomplished the result you were hoping for. Upgradation of Shipping Structure Proper and successful inventory management largely depends on the warehousing and shipping system of the company. If the packages are not handled carefully and delivered at the correct time, then this could harm the reputation of your company. This problem can be tackled by a flexible inventory management software, which will lead to overall efficiency in the warehousing facility of the organization. This can be accomplished through TYASuite’s supplier management and barcoding/RFID feature which enhances your shipping structure altogether. We at TYASuite family always thrive our best to cater to the best experience you can have in the industry with inexpensive ERP Cloud software. Try TYASuite plug and play ERP software which provides you with the best services at affordable prices. Grab our FREE TRIAL version now before the offer vanishes with a blink of an eye! Do you have any idea why is Project Management frequently time taking and wasteful? Is it accurate to say that you are always consistently updating spread sheets, and participate in weekly meetings? I believe it is a waste of time as well as effort. You may have a full overview of your project, with a small help from the correct software. There is a lot of project management software solutions out there, helping you keep steady over every project.
What is Project Management Software? Project Management Software is utilized by a broad scope of businesses for project planning, scheduling, and resource allocation. It empowers project managers and whole teams to manage their quality management, budget, and all documentation exchanged all through a project. This software additionally fills in as a platform for encouraging collaboration among project partners. What Makes Excellent Project Management Software (PMS)? From finding deliverables to handling assets and from spending management to collaboration with team individuals, there is a ton to be viewed as when running and overseeing projects. This remains constant while picking the correct project management software too. Here's top-notch of the leading 6 critical aspects of a project management tool to direct you in your choice. 1. Task lists – Having the option to allocate and update the status of projects with the goal that everybody in your team is on a similar page is essential. 2. Timetables – Numerous tools offer schedules, milestone or Gantt chart tools that enable you to comprehend where a task can be easily fitted into the project in general and how much time to finished it. 3. File sharing – Having the option to share and compose critical project archives takes out time squandered looking for files. 4. Communication – This is basic in project management as a simple stream of communication means fast and straightforward critical thinking. 5. Reporting – This is significant for all teammates with regards to updating themselves on the project all in all. This is likewise colossal for project managers who need to guarantee that the project is advancing and tasks are being done in a timely way. 6. Automated Alerts- Automated reminders ensures that no deadline is missed and the tasks are finished on time within the budget. By considering these aspects, let's take a look at the 12 best project management software to increase your productivity. 12 Best Project Management Software Of 2020 1. TYASuite Project Management Software TYASuite's Project Management (PM) tool helps businesses effectively manage their tasks and projects based on dependencies and milestones. Team leaders can handle the overall project cost on a real-time basis. Team leaders can assign tasks to teammates and handle priorities and due dates. The platform streamlines billings based on intimates team members, milestones, and managers on the possible overruns and a lot more. TYASuite's Project Management Software is an outstanding cloud project planning tool that helps organizations to turn into competitive and sets them apart from the rest of the world. Functionalities Involve:
Project.co is a customer-facing project management tool that interfaces your team with your customers' in a single place. Each bit of work you do can be configured as its project, with its conversation feed, notes, team, tasks, and payments. You can likewise record time spending on every project. A wide range of project and task is accessible, including scheduler, calendar, and Kanban board — to give you the ideal diagram of the work that is occurring inside your team. Functionalities Involve:
Toggl Plan is a powerful project management software to simplify your task designation cycle and visualize which tasks have been finished. If your team regularly works together with different departments, this may be a helpful solution for you. Functionalities Involve:
Another free tool that accompanies an assortment of highlights for task and project managers is nTask. This tool has several free-extend functionalities for anybody looking to function as an individual or a senior project manager. nTask underpins numerous projects or tasks creation simultaneously. Users can likewise characterize team leader jobs, financial plan, achievement and time tracking measures that are specific to essential projects. Understanding the necessities of cutting edge project directors, nTask likewise offers an interactive Gantt Chart highlight. It very well may be personalized by a straightforward and simplified system to adjust the project to progressing changes. Functionalities Involve:
Teamwork is a project management module and collaboration tool that helps remote and in-house teams remain productive and gainful. Each project lets you effectively transfer files, chat with teammates, assign tasks and deadlines. By centralizing your project data, you can help dispose of more mistaken assumptions and missed deadlines. Functionalities Involve:
Ramco Project management is the most efficient and robust solution accessible to address the needs related to thorough project management and increase operational significance. The application provides the skills, knowledge, abilities, tools, and method required to handle and account projects to meet or increase stakeholder expectations. With Ramco Project management you will be able to assure planning and managing the project management tasks and resources. You can track goals and milestones and measure them against real-time performance. Functionalities Involve:
Freedcamp is a reliable and feature-packed project management software that is intended for personal and business use. Each project has its milestones, tasks, files, time, conversations, issue monitor and calendar. The dashboard provides you with a useful, compact diagram of what's happening in your team, including projects, activity, and tasks. Functionalities Involve:
Asana is one of the most famous project management software utilized by a vast number of individuals across 192 nations, has a straightforward and easy to use interface. The across the board tool lets you make sheets to visualize which stage your task is in and use tracking to monitor completed tasks that need your consideration. Functionalities Involve:
Teamwork is also a project management software that has some expertise in uniting telecommuters. Also, it allows you to make teammates status updates, so your distant team know their associates' timetables. It additionally gives client support features, including the choice to dole out tickets or view client emails in a single place. Functionalities Involve:
Wrike stands apart as a special project management software for teams who need the choice to modify work processes and alter and update projects from the platform. The tool offers the capacity to layer calendars and colour code, and its mobile structure permits associates to update project data in a hurry. You can add remarks to segments, documents, or videos, and make custom fields to send out data generally applicable to your organization. Functionalities Involve:
Paymo's free variant permits accessibility for one user. Yet if you you're a freelancer or you have a little team, this could be a productive alternative for monitoring billable hours and invoicing customers. Alongside monitoring accounts, Paymo additionally permits you to compose project deadlines, create to-do lists, and keep steady over your spending plans for different projects at once. Functionalities Involve:
ClickUp gives a couple of notable highlights to modify the across the board project management tool to suit your teammates, including the alternative for every user to pick one of three distinct approaches to see their tasks and projects relying upon particular inclination. If your marketing team covers sales, plan, or advancement, this is a compelling solution, as it gives highlights to those four teams. Functionalities Involve:
If you want to pick the right plug & play project management tool, it's essential to think about factors, for example, the size of your team and business, the number of highlights you need and which of those functions you most worth. In any case, I think you'll rapidly understand that having such a tool in place will make your daily work a lot simpler. TYASuite Project Management Software can be used for organizations across industries like Real Estate Development firms, Software development companies, Real estate project Management organizations, Contract-based manufacturing businesses, EPC Companies, and a lot more. Then, what are you waiting for? Choose TYASuite, which is the only plug & play ERP to manage all your product effectively and successfully. START YOUR FREE TRIAL TODAY! Searching for the correct manufacturing software for your SME is essential to productivity and success for a lot of reasons. It can help you boost your supply chain by providing automation, visibility, digital transformation and control and, helping you effectively scale your business and advance your existing systems without a huge spend. Undoubtedly, your business could profit from an enterprise resource planning or ERP software. Top ERPs for SME list can help you evaluate the right software for you. It can help you simplifies numerous features of your organization in a single platform. Below are the software’s or modules which can streamline your process:
ERP Software Can Help You Streamline - Inventory - Procurement - Finances - HRM - MRP - Production - Sales - Analytics Top 7 Reasons to Move into an ERP Software
1. Provides Real-Time Data -- Analytics are crucial to any business that desires to adjust to the ever-changing requirements of the buyer and the business. Perhaps the best part about a top ERP is that it tracks data across numerous departments that you most likely at present treat as discrete substances, giving you top to bottom analytics so you can change varying to get the most ideal outcomes. This likewise helps you perceive how different capacities influence each other. 2. It Boosts Customer Service -- One of the things that numerous SME notices when beginning with an ERP is precision. Since you have definite visibility of materials, inventory, progress, planning, transportation, and more, there's a much lower danger of error and disappointed clients. Did you understand that some purchasers (that is, 88%, as per an ongoing study) anticipate that the capacity should follow their shipments? The privileged ERP software can furnish you with precise, automated traction of order for a more joyful purchaser base, also exact inventory updates. 3. It Helps Build Your Business -- At the day's end, developing organizations need a greater amount of everything, including work, warehouse space, marketing, and time. Most manufacturing software works hard to advance what you've already got and made space for a lot more. For instance, the privilege ERP could help you exploit your warehouse so you can store more products without expanding your office's impression or put resources into more storage. So, they're intended for scaling and growing your business ERP. 4. It Streamlines and Simplifies -- Offering a real-time perspective on the entirety of your principle measures under a solitary framework, an ERP platform simplifies and streamlines huge numbers of your organization's operations. For some organizations, this means cutting back from different software for a one that puts all your essential capacities under one umbrella. It additionally makes a focal, vast centre point that requires just a single software for all departments. 5. It Decreases Costs -- All of these advantages cooperate towards one fundamental objective — cost savings. A very much picked ERP solutions can set aside your money by diminishing error, keeping clients happy, forestalling inventory excess or deficiency, tracking expenses, and write-offs, and lessening operational expenses by monitoring and automating the entirety of your organization's finances. A framework that spares you and your worker's time will likewise save you heaps of cash by permitting you to assign work somewhere else. Top Consideration While Choosing an ERP Consideration No. 1: Your Current Process Did you understand that 16% of associations trying to execute another ERP software are doing as such to replace their local frameworks? If you're searching for a further developed, tailorable system that goes beyond Excel, Tally, QuickBooks, and other tools that you've become out of, at that point, it's time to change to an ERP. Fortunately, the vast majority of these products are set up to help you from a basic and restricted system to full-fledged ERPs, so your present framework will help you choose which software is ideal. For instance, if you're changing from QuickBooks to ERP, you'll need to choose software that is viable with QuickBooks so you don't need to invest a huge amount of energy modifying databases without any preparation. Note that there are likewise an assortment of projects that cause changing from Excel To ERP a breeze, so if you need to keep up any current databases, ensure that you pick a choice that is intended to make the progress as straightforward as conceivable specifically for Excel users. Consideration No. 2: Your Specific Production Process and other business process To limit your determination much further, it helps if you select your software by manufacturing measure. There are ERP software’s that are built specifically for exact manufacturing works, for example, discrete, measure, blended mode manufacturing, light assembly (kitting), engineering to order (ETO), make to order (MTO), job shop (shop floor) professional services, wholesale or industrial distribution. While picking a tool that isn't mode-centric may work fine and dandy, contingent upon your specific business, it helps if you have exceptional tools that help your manufacturing mode. For example, if your organization practices process manufacturing, your ERP will have extra management works that enable you to plan, sort, and produce prepared merchandise, with extra solutions for simplifying measure specific capacities, similar to security laws and guidelines. Consideration No. 3: Your Industry Besides the manufacturing mode, ERP frameworks are likewise classified by the business in which they serve. Once more, this can help simplify certain organization-specific contemplations — for some organizations, the essential contemplations here are industry guidelines, security needs, and security laws — to help guarantee that each industry challenge is considered with your software choice. For example, if you are a maker of food and refreshment products, you'll need to consider numerous things that may not influence organizations in other businesses, for example, FDA compliance and inventory storage. While pretty much every industry ought to consider choosing a software that has been grown specifically for their realm, it's more significant for some rather than others. Those in agriculture, aerospace and defense, automotive, food and beverage, chemicals, consumer packaged goods, health, and medical devices, energy, petroleum and coal, transportation, industrial machinery, biotech, and pharmaceuticals must take extraordinary consideration in picking industry-specific ERPs to guarantee compliance and security on all processes. Consideration No. 4: Costs At last, you have to decide on a budget for your ERP. This sounds sufficiently straightforward, but costs can be fairly misleading in any significant software integration. What you really ought to consider is the ROI of your ERP. The approximate cost of manufacturing software execution changes generally, from $4,000 to over $1 million, but this isn't the cost you ought to be worried about. Rather, you should consider the direct front spend less your potential returns to decide the ROI (Return on Investment) of the transition. One of the large things SMEs need to consider cost-wise is licensing. There are two essential sorts of license costs with regards to ERPs — on-premise ERP (commonly paid with an enormous, one-time licensing fee) or cloud-based/SaaS ERPs (ordinarily paid for on a for every client, per-month premise). Since they're paid per client, cloud-based ERPs are regularly a smarter, more practical solution for organizations that have fewer employees or who just need to give out licenses to a little group of employees. The two alternatives ought to oblige for scale, should your business need space to grow. Top 6 ERP Software for Small and Medium Businesses As should be obvious, choosing the privilege ERP is a business-by-business choice, and there is nobody size fits all way to deal with manufacturing software. So, the accompanying six ERPs are a portion of our generally mainstream and adaptable choices for SMEs, and they are for the most part worth your decision. Note that these ERPs can be authorized either on-premise or on the cloud, but we are displaying them as cloud-based (SaaS) frameworks, as this is normally the most ideal alternative for SMEs. 1. TYASuite — The TYASuite ERP is the most prominent cloud-based ERP Software, which helps in growing your business ERP in India and other parts of the world. It involves financial management, supply chain, inventory, production management, compliance, asset management, project, CRM, and warehouse management solutions. When it’s licensed as a cloud-based ERP software, it’s always up to date and offers reliable, subscription-based financing. 2. E2 Shop System — Shoptech ERP is also a cloud-based and provides flexible financing and leasing alternatives for up to 300 clients. It offers solutions for all facets of including shipping, manufacturing, data collection, scheduling, estimating, purchasing, and accounting, but it’s also best-known for its Shop Floor Control. 3. Cetec — This ERP provides a manufacturing management solution at an amazing rate tag (just $40 per user/month when licensed as a SaaS). Few features of the cloud-based Cetec ERP are manufacturing quoting, CRM and sales management, inventory management, quality assurance, mobile warehousing, and more. 4. Sage 100 and 300 — Sage provides cloud-based enterprise management service with integrated solutions for finances, sales, customer service, inventory, manufacturing, and distribution, among other functions. The 100 - 300 products are both outstanding and cheap for SMEs. 5. Epicor — Epicor has been in the business for more than 40 years, and has built a flexible and affordable ERP that suits a wide assortment of manufacturing, including MTO, discrete, ETO, mixed-mode, and a lot more. It’s an outstanding choice for businesses in highly specialized domains, such as defense, aerospace, and medical tools. Wrapping Up If you are unable to decide which one is the best and most tailored to your business objectives and processes, you can get in touch with us at TYASuite. We are a one-stop-solution to all your manufacturing needs. Have a glance at TYASuite plug and play ERP software, which lets you customize the software according to your business needs for a seamless experience. Get your FREE TRIAL version of TYASuite’s plug and play affordable ERP software now and open a new world of great prospects that will ultimately bring prosperity to your business. [Payment of certain amounts by an e-commerce operator to an e-commerce participant].
Finance Act 2020 introduced a new section in the form of Section 194O to the Income Tax Act 1961 related to collection of tax by E-Commerce Operator. The below changes have taken effect from October 01, 2020. We have summarized the provisions of section 194O in an easy to understand language as below: 1) An e-commerce operator (i.e. E-Marketplace) must deduct TCS @ 1% (0.75% for FY 20-21) at the time of credit of amount of sale of goods or services or both to the account of an e-commerce participant (i.e. Seller on e-Commerce Platform) or at the time of payment thereof to such e-commerce participant. 2) TCS shall be calculated on gross payment amount. This means if any charges are deducted by E-Commerce operator that shall not be reduced for TCS calculation. 3) TCS is also applicable and shall be deducted even if the Seller has directly delivered the goods/services and/ or received the payment directly from the purchaser if the transaction was facilitated by an e-commerce operator. 4) TCS shall not be deducted from Individuals and HUFs if the gross amount on the platform doesn’t exceed/doesn’t likely to exceed Rs. 5 lakhs for that year. However, to get this exemption, the e-commerce operator must collect Permanent Account Number or Aadhar Number of the seller. 5) No other TDS shall be applicable to transactions where TCS has been deducted by E-Commerce Operator or it is exempted based on the above amount limit for Individual or HUF Sellers. 6) In case the Seller does not furnish PAN or Aadhar Number to the e-commerce operator, TDS shall be deducted at the rate of 5% under section 206AA of the Act 7) The Limit of Rs. 5 lakhs shall be calculated by E-commerce operators for themselves for each seller. Explanation of Certain Key terms: a) "Electronic commerce" it implies that the supply of items or services or both, including digital items, over a digital or electronic network. b) “E-commerce operator" it implies that an individual who own, operate and control digital or electronic platform or facility for electronic commerce. c) "E-commerce participant" it implies that an individual who is a resident in India selling items or offering services or both, incorporating digital items, through a digital or electronic platform or facility for electronic commerce. d) "Services" involve "technical service fees" and "professional service fees", as described in the Explanation to section 194J. |
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