Insights, updates, and best practices for ERP implementation and management
Summary Your ERP system is at the heart of your day-to-day operations and the key to your ongoing success. Why is it then that so many an ERP implementation is the stuff of nightmares, despite well-documented and proven best practices in the market? Sure, you could argue that product functionality is the most important thing here. Even though the road … Read More
Summary Enterprise Resource Planning (ERP) tools are used to manage the day-to-day business operations in a number of industries, including procurement, accounting, supply chain management, human resources, and more. The right ERP system provides your business with an effective way of viewing, distributing, and managing its most critical resources across the entire organization. The ERP market in the United States … Read More
Summary The distribution landscape is amid a remarkable transformation that brings unprecedented challenges and opportunities. A driving force behind this shift is none other than digital transformation, a buzzword that has taken almost every industry by storm. Digital transformation, in its simplest form, is the integration of digital technology into all areas of a business, fundamentally changing how you operate … Read More
Summary At 10X ERP, we understand these unique security challenges. That’s why we've designed our ERP system with a steadfast focus on security. We’ve integrated modern web security best practices and top-tier tools right into the fabric of our platform. Our goal is to offer peace of mind to our users, ensuring that security is not just a side feature … Read More
Understanding the terms ERP (Enterprise Resource Planning) and MRP (Material Requirements Planning) can feel like navigating a labyrinth, especially when you consider their shared acronyms and history. While they do overlap in some areas, each system provides its own unique capabilities and levels of performance. MRP software primarily enables manufacturers to manage material-related aspects of their business, including inventory control, … Read More
Read the official press release on Business Wire Houston, TX — 10X ERP, a new software company, has announced the launch of their cloud-based ERP software, specifically designed to meet the needs of small to medium-sized distribution businesses. The solution, which launched successfully with its first client on March 1, 2023, offers an intuitive, fast, and user-friendly experience. Its core … Read More
Retail stores sell goods directly to the end user in small quantities, typically in either a brick-and-mortar or ecommerce store. Wholesale suppliers, on the other hand, sell wholesale goods in larger quantities to store owners and others within a number of industries, who then sell the goods to the end consumer. Selling products wholesale provides access to a diverse range … Read More
A timesheet is a data table that tracks the total hours an employee has worked during a set period. Businesses may use timesheets to track time spent on tasks, clients, or projects. Larger businesses use software or apps to track employee hours, but paper-based timesheets will suffice for smaller companies with fewer employees. In this article, we'll share a few … Read More
Your business plan is a great way to organize and provide a map to make your business idea a reality. It's an essential component of raising finance and attracting investors, business partners, or managers. According to Harvard Business Review, the most successful entrepreneurs write their business plan between six to twelve months after deciding to start their business, increasing their … Read More
Your balance sheet is one of the most important financial statements you'll ever use. It presents a clear and critical insight into the financial health of your business. It's used by potential investors that want to evaluate whether or not to invest in a company, business owners that want to craft more effective business strategies, or internal departments that want … Read More
Supply chain management is vital to any business. It’s defined as the system encompassing the logistics of producing and selling commercial goods, including resource acquisition, product development, and delivery. Traditional Supply Chain Models (and Their Meaning) Supply chain management is usually broken down into six separate categories. All six supply chain models have the same goal, rely on similar components, … Read More
The FIFO method, or First In, First Out, is an asset management and valuation method in which the assets produced or acquired should be sold, used, or disposed of first. FIFO makes the cost flow assumption that the oldest inventory's costs are included in the income statement's cost of goods sold (or COGS), while the remaining inventory assets are matched … Read More