Businesses are investing in technology to move forward: Epicor Growth Index
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Businesses are investing in technology to move forward: Epicor Growth Index

Phocas partner, Epicor enterprise software compiles the 'Epicor Global Growth Index' annually. The index is used to assess the state of growth in the manufacturing, distribution, retail and e-commerce industries along with what trends impact the bottom line. The 2020 report’s findings show that companies across the globe are investing in technology and IT infrastructure to offset the impacts of global volatility, such as covid-19 and supply chain disruptions. Data analytics is also driving growth and proving worth the investment for most organizations, by optimizing operations (42.7%), increasing sales (44%) and improving profitability (45.3%).

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Topics: ERP - Epicor, data analytics

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Businesses are investing in technology to move forward: Epicor Growth Index

Phocas partner, Epicor enterprise software compiles the 'Epicor Global Growth Index' annually. The index is used to assess the state of growth in the manufacturing, distribution, retail and e-commerce industries along with what trends impact the bottom line. The 2020 report’s findings show that companies across the globe are investing in technology and IT infrastructure to offset the impacts of global volatility, such as covid-19 and supply chain disruptions. Data analytics is also driving growth and proving worth the investment for most organizations, by optimizing operations (42.7%), increasing sales (44%) and improving profitability (45.3%).

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Topics: ERP - Epicor, data analytics

Are you measuring lost sales opportunities?

are-you-measuring-missed-sales-opportunities

Businesses spend, on average, five times more money to acquire new customers, than they do to retain the ones they have. Therefore, it is critical that managers make certain they are meeting their customers’ needs. With detailed insight into customers’ buying habits, your sales team has the knowledge necessary to solve your customers’ problems and generate the most sales opportunities. Measuring lost sales enables your sales team to identify when and where they are falling short, so they are able quickly remedy any issues to the customer’s satisfaction.

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Topics: Job Role - Sales, data analytics

How to monitor business performance with financial analytics

The finance department monitors and analyzes business performance in detail. Yet sometimes it can take awhile to communicate and address issues occurring in different parts of the business that are creating bottlenecks or affecting costs. Companies spend months preparing budgets and yet when the numbers are reviewed a year later a company's performance isn’t always aligned. To get the maximum benefit from your financial data, using dynamic reporting tools in data analytics software will allow you to better monitor performance metrics, visualize the numbers and deal with 'unexpected' issues.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Dynamic reporting, data analytics

How effective sales pipeline management generates revenue growth

The sales pipeline plays an essential role in any successful company – from the construction industry to turf and garden suppliers. According to a recent Vantage Point study, 72% of sales managers have regular meetings with  employees about the pipeline. However, 63% of respondents say their companies are not managing the pipeline effectively because they are not learning or responding adequately to it. While unexpected opportunities arise, there is a direct correlation between effective sales pipeline management and strong revenue growth.

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Topics: Job Role - Sales, Strategy, Management and Performance, Industry - Retail, Dynamic reporting, data analytics, cross-selling

Get visible data and improve business outcomes

increase-data-visibility-into-your-business

Business leaders want to make decisions faster and with more efficiency.  Without visible data that is accessible and organized, it’s nearly impossible to make well-informed decisions. Liked driving a car on a foggy road at night, you will have difficulty identifying the best route or avoiding potential obstacles on the road. However, with data visibility, you have the clarity to make good decisions at the right time, as well as the flexibility to respond to potential challenges.

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Topics: Industry - Electrical, Job Role - Executive, decision-making, data analytics

Take control with self-service data analytics

take-control-with-self-service-business-analytics

Nearly all companies in today’s world have one common goal: keeping the user experience simple. This reduction in size, steps, and clicks does not mean the technology is any less sophisticated — in fact, it’s just the opposite. In relation to data, self-service data analytics solutions enable users of all skill levels to independently access, query and analyze company data.

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Topics: Job Role - Inventory/Operations, Job Role - Marketing, data analytics, data visualizations

How do you feel about data?

Data means many things to different people. How does data make you feel? Does it keep you up at night because it’s not solving problems but sparking more questions. Or do you prefer to put data in the too hard basket because you believe the cost of storing, securing, analyzing and sharing it outways the business benefit. Perhaps you feel completely in control of your data and turn to it for every decision. Does accurate and timely data help you know what's happening in your business and be an empowered leader? Phocas asked several general managers, finance and IT professionals and purchasing and inventory folk how they feel about data. Here's what they said….

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Topics: Job Role - Finance, Job Role - IT, Job Role - Executive, Job Role - Inventory/Operations, data analytics

What's new in manufacturing software?


In manufacturing, most companies can’t make products any faster or cheaper, so they need to achieve efficiencies through data and the back office. ERP, data analytics and the new Epicor Data Analytics (EDA) Financial Statements manufacturing software helps facilitate these gains. Many manufacturers using Epicor ERPs benefit from the partnership between Phocas and Epicor and use the white-labelled Epicor Data Analytics plus EDA Financial Statements to do systematic analysis of their data and monitor KPIs.

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Topics: Industry - Manufacturing, Financial Statements, data analytics, data visualizations, KPIs and metrics

How to automate financial statements in minutes

What does the month-end look like in your business? Does the finance team spend a lot of time pulling data from your enterprise resource planning (ERP) system into spreadsheets so they can manipulate it into the standardised format? Is there a lot of wasted effort, double checking and renaming? For many, the process of preparing the data is a huge time waster and takes a lot away from analyzing the data. A new finance solution allows the accounting department to quickly customize and automate financial statements like the income or profit and loss statement and balance sheet in minutes.

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Topics: Business Intelligence Basics, Job Role - Finance, Financial Statements, Dynamic reporting, data analytics

5 ways to reduce finance admin time with data analytics

Most professionals complain of spending too much time doing tactical and administration work and neglecting the value-add duties. In the finance team, there is growing interest from the rest of the organization to provide more business advice, so there is a pressing need to adopt digital tools to automate processes, so instead of number crunching it can focus more on strategic tasks. A significant challenge for the finance team is selecting the right financial data analytics software, which integrates ERP financial transactions and customer interactions and fulfils expectations.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Dynamic reporting, data analytics

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