The documentation of a processes cycle is the first step towards improving business process optimization. This exercise helps map the flow of documents, data, and transactions, identifying the duplications and redundancies. The output helps eliminate process and operational inefficiencies and almost always results in the automation of repetitive tasks.
27
Oct
Oct
With the world in turmoil, businesses all over have been struggling. Most companies are implementing austerity measures to tide over the lean times. However, this is also an inflection point as enterprises realize that agility will be a crucial element of their post co-vid business strategy. And here, outsourcing/co-sourcing can help.
29
Jul
Jul
When starting, many companies make the mistake of not paying attention to their working capital cycle. This can be detrimental as the business can quickly run out of cash, resulting in reliance on a line of credit which comes at a cost.
27
Jul
Jul
Inventory management is essential for all businesses. The biggest challenge that a business faces regarding inventory is balancing demand with adequate supply. If there is no inventory management strategy in place, the company runs the risk of running out of inventory, resulting in lost sales and customers or holding stock that does not sell. Hence no business can expect to run efficiently without a proper inventory management strategy in place.
13
Mar
Mar
Automation in sales order processing and invoicing is essential in the modern-day connected business world. Manual handling of this process is expensive due to the use of employee resources, as well as the cost of errors and omissions. Retailer policies generally do not allow companies to fix errors or omissions beyond 90 days of the shipment date. If any are discovered, fixing such errors or omissions is a significant task.
09
Mar
Mar
Automation in sales order processing and invoicing is essential in the modern-day connected business world. Manual handling of this process is expensive due to the use of employee resources, as well as the cost of errors and omissions. Retailer policies generally do not allow companies to fix errors or omissions beyond 90 days of the shipment date. If any are discovered, fixing such errors or omissions is a significant task.
03
Feb
Feb
The accurate and timely calculation of trade promotion cost is a challenge faced by all consumer-packaged goods companies. The absence of an in-house capability to calculate and record this expense can result in unprofitable sales without management knowledge. Since companies can receive retailer deductions as late as 1-24 months after the date of an actual sale, companies must have visibility around trade promotion offers to the customers, what these sales represent in terms of trade promotion cost.