Order Management Systems: Streamlining Business Intelligence

Every business irrespective of its size is profit oriented. The growth and success of any business is determined by its expansion, profit margins and revenue collected. During the initial stages of business, responding to customer needs and demands is easy as is the orders are also minimal.   However, as business expands the enterprises need to expert methods to ensure the correct procurement of products and services, track orders, sales and inventory so as to maintain better customer relationships.

The technologically enabled business world today makes use of a number of automated procurement and order management systems to maintain and manage the smooth functioning of the supply chain network. With the development of e-commerce, organizations have greater scope for business expansion and thus tend to make use of the cloud based business procurement process. Such automated purchasing process strengthens the value network of the organization by integrating the buyers and suppliers with the help of IT systems.

The cloud-based procurement systems goes way ahead of the traditional purchase order software and eases out post award management functions by automating the end-to-end workflow from order, delivery to invoicing.  Further, the use of order management systems enables the enterprises to track the progress of the product or service. Inefficiencies in the ERP system or order management process will lead to loss of revenue, hamper customer relationship and inability to integrate with eprocurement process.

The leading market player shave designed and developed order management systems, which would provide visibility and control over the supply chain activities. These systems can integrate well into the ERP and warehouse managing systems of the value networks. The cloud process based order management system has the ability to incorporate the entire logistics from order to delivery and supports a web based order placement from the customer’s ERP systems.

These cloud based order management system provide high degree of functionality through a connectivity platform that paves way for automatic allocation of transport, validation of inventory, routing details and destination, stock updates and sales orders. The system is also designed to provide real time data to supply chain organisation to ensure improved management of delivery processes. From the organizations point, these cloud process based order management software brings about a significant reduction in cost, helps to track and trace consignments. With its real-time reporting mechanism and 24/7 access, it records higher asset utilization, quicker implementation and streamlined business intelligence for a higher Return of Investment.  


Also read on - Purchase order software, Supply chain management solutions

Expense Management Software: Hassle Free Corporate Travel Management

Expense Management Software: Hassle Free Corporate Travel Management

Organizations irrespective of its business and employee size needs to have a proper system in place for managing its expenses and the smooth functioning of its resources. Expense management system with its policies and procedures, technologies and services is deployed by organizations to process and pay employee-incurred expenses for travel and entertainment. However, as organizations become global entities, the expanse of the business network spreads beyond geographical boundaries making management of these expenses worldwide a difficult proposition. .
Nevertheless, with the global economic scenario looming large on the organizations to cut corners in its expenses, business travel expenses are also affected. In a globalized business environment with offices and branches spread worldwide, the multicultural multinational workforce has to be managed, organized and directed to meet organizational goals and objectives. Though technological innovations have paved way for a virtual interaction and communication with the workforce, it may not be as effective as the face-to-face interaction. Hence, cutting down on business travel expense on the part of key professionals may not always be a viable option.
Effective business travel management and spend analysis is a prerequisite to strategic sourcing. However, relying on manual processes will result in use of man-hours and increased transaction costs. Automation of this processes either through use of software implementation or through web-based on-demand applications from SaaS providers will pave for better management control and reduced transaction costs.
A number of service providers have designed and developed software for managing of business travel expense. However, the leaders in the industry have exploited the cloud computing technology and have designed software for digital management of the business travel expense and any other expense initiated by the employees and management worldwide. This cloud based business travel expense management software provides end-to-end visibility, control and enhanced spend analysis across the expenses in comparison to the traditional expense management software.
The cloud based corporate travel and expense management software with its various modules offers a number of benefits for the organization.  Through effective accounting, invoice handling, travel booking, cloud collaboration with banks, airlines, travel agents and hotels this is automation and optimization of travel expenses. Further, it greatly reduces travel and travel administration costs, provides improved control through compliance with tax regulations and laws prevalent in the region, real-time information of the value network, eliminates repetitive manual task and expedite the travel claim approvals thus paving way for a hassle free business travel

Also read on - eGovernment, supply chain management solutions

End-User Tools Expense Management Software

The management of business travel expenses is necessary to reduce costs and lead times, improve control on the process, deploy simple and easy processes to elevate customer satisfaction levels and generate more revenues. The modern day business travel expense management demands more effective and quality processes that cannot be met by traditional software. The requirement for a highly competitive travel expense management process that delivers extraordinary performances is a necessity. The cloud-based process is the optimum model that provides the following services

• The cloud-based process tools provides the users with simple and flexible interfaces so that they can maintain their profiles, make bookings, reconcile invoices, report expenses etc., easily without any assistance. The tools facilitate the end users in administrative functions for configuring BPR and managing data, reporting and follow-ups.
• The expense management software helps the end-user to connect to travel agencies, airlines, hotels, taxi companies, credit card companies, banks etc. It helps in building a reliable business process network and facilitates the exchange of information accurately between the business partners and therefore helps in deploying an end-to-end travel process automatically.
• The business travel expense management software provides optimum master data management services by maintaining the account plans and the hierarchy existent in the organization. It also maintains a database with personal information. The profile database is updated regularly from the end-user’s back-end systems and this information is shared in the business process network. As the same master data is shared by all the parties the completion of the travel process is achieved successfully.
• The cloud-based business travel management process is continuously updated and innovative strategies for facilitating enhanced services are implemented.
• The process helps the end-users to connect to third parties and avail their services such as video conferencing facilities for hosting meetings without traveling or currency conversion providers.
• The expense management software is equipped with consistent monitoring and management capabilities. This facilitates the master data to be shared accurately in the business process network.
• The process is deployed on a scalable and secure environment and the end-users can choose the level of service without the fear of any risks. It also provides support in the management of technical processes and ensures that the operations are not disrupted or affected adversely at any point of time.

The cloud-based expense management software provides you high returns with an efficient management of your business travel expenses. It leverages the processes in the business network with the help of simple and effective tools.

Also Read On: Order Fulfillment Process, Supply Chain Management Solutions

The management of business travel expenses is necessary to reduce costs and lead times, improve control on the process, deploy simple and easy processes to elevate customer satisfaction levels and generate more revenues. The modern day business travel expense management demands more effective and quality processes that cannot be met by traditional software. The requirement for a highly competitive travel expense management process that delivers extraordinary performances is a necessity. The cloud-based process is the optimum model that provides the following services

• The cloud-based process tools provides the users with simple and flexible interfaces so that they can maintain their profiles, make bookings, reconcile invoices, report expenses etc., easily without any assistance. The tools facilitate the end users in administrative functions for configuring BPR and managing data, reporting and follow-ups.
• The expense management software helps the end-user to connect to travel agencies, airlines, hotels, taxi companies, credit card companies, banks etc. It helps in building a reliable business process network and facilitates the exchange of information accurately between the business partners and therefore helps in deploying an end-to-end travel process automatically.
• The business travel expense management software provides optimum master data management services by maintaining the account plans and the hierarchy existent in the organization. It also maintains a database with personal information. The profile database is updated regularly from the end-user’s back-end systems and this information is shared in the business process network. As the same master data is shared by all the parties the completion of the travel process is achieved successfully.
• The cloud-based business travel management process is continuously updated and innovative strategies for facilitating enhanced services are implemented.
• The process helps the end-users to connect to third parties and avail their services such as video conferencing facilities for hosting meetings without traveling or currency conversion providers.
• The expense management software is equipped with consistent monitoring and management capabilities. This facilitates the master data to be shared accurately in the business process network.
• The process is deployed on a scalable and secure environment and the end-users can choose the level of service without the fear of any risks. It also provides support in the management of technical processes and ensures that the operations are not disrupted or affected adversely at any point of time.

The cloud-based expense management software provides you high returns with an efficient management of your business travel expenses. It leverages the processes in the business network with the help of simple and effective tools.


Also Read On: Order Fulfillment Process, Supply Chain Management Solutions

Speed Up Your Financial Transactions Efficiently

With developments in computer, internet and other software applications, most organizations are resorting to electronic payment process for their financial transactions. The reason is that, this process is fast and contributes efficiently to the smooth operational flow of an organization.

Today, the market records the presence of eminent brands and companies that provide the users and customers with easy financial transaction methods such as electronic payment process solutions. Furthermore, these processes are an essential part of the Cloud Processes as well. They enable you to optimize and mechanize the overall manner in which you will handle the electronic financial transactions. At the same time, the inefficiency caused due to manual administration and tedium is eliminated. Other benefits include minimized processing time and enhanced processing accuracy.

The new age electronic payment processes has the ability to effortlessly incorporate your company’s system along with your collaborating business members and their respective systems. The business process networks too taken into account. There are configurable and well-defined business rules. As a result, you have total authority over the master data, for instance, its accessibility, integrity across the pertinent value network of the partners.

Electronic payment process and invoice creation

Service providers of electronic payment process solutions offer an invoice management platform that helps to receive and generate electronic invoices and save them with the present legal requirements accordingly. Various types of invoice include the invoices based on:-

• Transport
• Orders
• Travel
• Periodic invoices, for instance, mobile phone and electricity

The processes that are included in the automated credit card processing transactions for travel expenses, comprising electronic payment process are listed below:-

• Credit card transaction receipts regarding all travel expenses
• Reconciliation of expenses against the travel booking
• Generating reimbursement for travel costs
• Transfer of data to the salary system for payment with salary

Electronic payment process leads to a certain set of benefits to the organizations and companies using it. Some of them are listed below-

• Enhanced cash flow
• Enhanced saving
• Enhanced customer satisfaction and loyalty
• Improved visibility of processes, that includes invoice and payment processes.
• Brings down the administrative cost to a great extent along with enhanced accuracy
• Has the capability to cope with any alterations in your ever-changing business environment

All these processes and benefits together provide a competitive advantage to the organization using the modern day electronic payment process.

Also read more on: Digital management, spend analysis

Importance of Cloud based Supply Chain Management Solutions

Supply chain management solutions are of great significance to every business organizations today. The two important aspects of revenue recognition are availability of products and sound market coverage. Both these aspects are dependent on sound implementation of the supply chain strategy. Simply put, as soon as a new product is advertised and launched in the market, all sales counters need to have it for customers to purchase. Any delivery bottlenecks that hinder the product delivery will make the customer loose demand and interest on that particular product that might in turn lead to low revenue. Transportation network management and design thus are of great significance to marketing strategy and supporting sales. 

Two other important elements of supply chain management solutions are inventory visibility and inventory control. In any operations, these two elements are considered as cost drivers and have an effect on bottom lines included in the balance sheet. To any organization inventory is synonymous to value and is an asset. Every organization has its own criteria for inventory turnaround. It refers to how many times the same have been replaced and sold within a year.  Hence, the inventory health is indicative of the business health and condition.

Speaking of a global business scenario sometimes completed goods inventories are stopped at various distribution centers and locations, and are organized by third parties. There are cases when they are also held up in pipeline transportation rather than retail stocking points.  Owing to the fact that, any kind of inventory loss is synonymous to value loss, a sound control of inventory and visibility is an important aspect of the supply chain management function. 

Today, service providers of supply chain management solutions use Cloud process for effective results. These cloud based solutions help various kinds of companies, for instance manufacturing, distribution, consumer good, transportation, third party logistics and retail to enhance and attain real-time authority on the supply chain. It works in the following three steps or approaches:-

• Streamline – Helps in setting up a supply chain with transparent quantifiable processes.
• Focus – Helps in recognizing and concentrating on the concerns that requires attention.
• Improve- Helps in making apt business decision that in turn optimizes and improves the supply chain process.

Supply chain management solutions with Cloud processes offers web-enabled visibility that covers up every supply chain customers and members to provide higher customer value and minimized cost.  

Also read on:

order management system, digital management