As a Chief Financial Officer specializing in manufacturing, I enjoy working to mitigate a wide variety of risks. Mitigating risk is a data-driven exercise, which is the kind of exercise I enjoy, especially when my efforts are augmented (along with my eyestrain), by increasingly intelligent AI machines empowered with cognitive technologies. (more…)
There seems to be quite a lot of confusion around Cycle Counting vs. Stocktaking. So, before we discuss the importance of Cycle Counting, we will need to understand WHAT Cycle Counting is, and What Cycle Counting is NOT: What is a Cycle Count? Traditional inventory audits or stock takes, involve counting all of the stock that the organization has on a particular date. Typically this is [...]
Nowadays, we take information technology (IT) for granted and simply expect it to be intuitive to use and for it to simplify our lives. IT enables our personal and business processes and actions to help us lead organized and effective lives. But the ins and outs are completely interconnected. You cannot have one without the other, and successful outcomes rely on what’s put in. [...]
How does BI differ from ERP? ERP systems essentially integrate all the disparate functions within your business and overcome the so-called ‘silo mentality’ by creating a single, centralized data architecture. The ERP software collects, stores and manages data relating to business activities. The principal output of ERP software is business efficiency and cost-savings. (more…)
If I had ever, in my youth, invented an acronym, I believe it would have been ‘GARR’. GARR represents the repetitive processes that countless financial workers have suffered through since the invention of…well…finance. Finance, almost by definition, requires attention to detail, and for a finance worker, the details are in the data. And if you rely on data, then somebody needs to GARR: (more…)
Far too often “trend reports” in an industry are all about trends that only the largest companies can implement and take advantage of. The Fortune 500 has the resources to fill in the gaps that might not be apparent when innovative technologies and processes are first rolled out. This affects everyone else in the industry and adoption is initially slow due to the high [...]
Digital transformation is achievable for all manufacturers. A ‘DX’ strategy unlocks real value today and transforms your business for future success. The problems that digitalization solves strike at the very heart of manufacturer’s challenges today. What is real and what matters right now is how technology can solve immediate problems. Manufacturers are under competitive pressure to deliver better goods at lower costs. They want to reduce [...]
Many SMEs experience growing pains as they attempt to make the transition from a small to medium-sized business. Our team at K3 Syspro spends much of its time talking to manufacturers about the challenges they face in scaling up their operations and explaining how building digital resilience is a key part of any growth story. A comprehensive ERP system is able to equip business [...]
Digitization is one of the most important business trends of recent years, but how exactly can digital transformation improve your business? If you’ve been running a business anywhere in the world over the last few years, you’ll have undoubtedly heard multiple references to digital transformation. You may already have begun to digitize aspects of your enterprise. (more…)
Contact Us
