Miller Industries Enhances Towing Equipment Business with Infor

Infor and Miller Industries, Inc., a world leader in towing and recovery equipment, have partnered to roll out a comprehensive, cloud-based solution for faster strategic business decisions and better business process management. Adding to Miller Industries’ use of Birst analytics, they will have access to Infor’s multi-tenant cloud environment, including the Infor LN global ERP (enterprise resource planning) cloud solution, Infor CloudSuite™ Automotive, Infor CloudSuite™ Workforce Management (WFM), Infor OS (Operating Service), the Infor Data Lake, and the Infor Coleman AI (artificial intelligence) Platform. These tools will enable the company to combine internal and external data sets, more precisely analyze and forecast workforce and business performance and, ultimately, better manage its business processes. Though there will be some challenges implementing these new solutions and getting their company acquianted with Infor’s technology suite, this was an opportunity that Miller Industries could not pass up.

 

For Full Article, Click Here

Infor Delivers Coleman AI Platform

Infor announced the general availability of its Infor Coleman AI (Artificial Intelligence) Platform for embedded machine learning models. This platform offers the speed, repeatability and personalization needed for enterprises to fully operationalize AI – and is the key building block for Infor’s Intelligent CloudSuite. Per the infor website, “The Infor Coleman AI Platform is a pervasive machine learning platform that operates below an application’s surface. It mines data and uses powerful machine learning to help improve processes such as inventory management, transportation routing, and predictive maintenance.” The Infor Coleman AI Platform is named after trailblazer NASA mathematician and physicist Katherine Coleman Johnson, who’s work at the space center helped with the moon landing missions. The Infor Coleman AI Platform is a giant leap forward for AI at scale — incorporating deep reservoirs of network data to help serve the needs of human workers and to help make connected devices smarter.

 

For Full Article, Click Here

3 Challenges of CRM Implementation SMBs Face in 2019

Customer engagement and satisfaction is crucial for business clout. That’s why customer relationship management (CRM) systems are such a necessary platform for small to medium sized businesses (SMBs) to utilize to stay relevant in their customer’s minds. These softwares provide useful databases, analytics and techniques to not only store customer information, but gain insight to trends, performance reviews, and future plans. Most importantly, they help your sales team manage and maintain valuable customer relationships. This fast growing software market isn’t slowing any time soon, though there is still some hesitation from potential users. The problem that SMBs face is their struggle to achieve their sales goals even with CRMs in place.

Victor Iryniuk at Business2Community shares 3 challenges that SMBs face during CRM implementation.
  • Challenge 1: Absence of mobile CRM – Studies show that 65% of sales who use CRM on their mobile devices achieved sales goals. If your company still uses a desktop-only version of CRM, check if it’s available on mobile.
  • Challenge 2: Relying on third-party CRM integrators too much – Do small research beforehand: tools like Zapier are specialized in connecting different software tools. So even if your CRM has a handful of native integrations, it can have hundreds of free third-party integrations available to users.
  • Challenge 3: Wrong CRM system – Never choose CRM in a rush. Define your workflow, prepare requirements to CRM and think who will use it before you commit.

No matter the size of your firm or your customer base, you should keep in mind some of these challenges that can come up and to hopefully avoid or prepare for repercussions if such events occur. With the right adjustments, SMBs will see a change in their sales goals.

 

For Full Article, Click Here

Infor and Signavio Announce Strategic Partnership

One of Infor’s latest partnerships is with Signavio, a leading provider of business transformation solutions. This Berlin, Germany and Burlington, Massachusetts based company is partnering strategically with the tech giant and will focus on delivering stronger implementation accelerators to Infor customers worldwide. This collaboration provides added value to both companies. Signavio CEO Dr. Gero Decker says of the partnership, “Ultimately, we believe customers can benefit from Signavio’s powerful process mining and process management capabilities, combined with Infor’s Implementation Accelerators, which can help enable smarter and more informed decisions across a variety of business functions.” With this partnership, both companies deliver solutions and services to organizations seeking to replace their existing enterprise resource planning (ERP) solutions with new, modern, industry-specific applications.

 

For Full Article, Click Here

Chart of Accounts when using Activities

, ,

The Chart of accounts is recommended to be consistent for GL and Activities.  The Activity field, when populated, already differentiates the JE entry line from one to the same account without an activity specified.  This allows for easily determining how much was booked to a specific account and also split the bookings to a specific account into project related or not.

Account Categories in the AC module also allow you to have a separate chart of accounts, if desired, from your GL Chart of Accounts.

Since an account category is required when an activity is entered, it allows for a separation of the GL and AC charts if separation is desired.

Many users default in the Account Category so this value doesn’t have to be specified on each transaction that uses an activity throughout the system.  The defaulting could occur on GL20 instead of GL00 if the accounting unit used in the transaction would alter the way you would account for the project/activity posting.

Three Ways Technology Can Help Protect Your Real Estate Investment

Real estate and technology have been partners in crime in the way to sell a technologically advanced home, though not many agents or companies embrace many tools in their business practices. A recent Forbes article shares how technology can be a great asset when investing in real estate. There are many technologies available that can help you protect your investment.

  1. Streamline the process. – A recent article by Navitas Capital says that artificial intelligence is no longer in its infancy: We are on the verge of AI disrupting both real estate and construction, which have been behind the curve of applying artificial intelligence relative to other industries.
  2. Improve efficiency. – If you are an investor, there are many moldable, cloud-based software solutions that can drive deal flow more efficiently and effectively.
  3. Use automation. – While the human factor is still there in CRE, automation is key, and there are many tools available today that can automate investment.

There are many factors that investors should be aware of in real estate and we have the technology to help make such deals more efficient and streamlined. Incorporating tech can help to truly transform the process, all the while protecting your investment.

 

For Full Article, Click Here

In The Flow: How To Master Your Brain’s Peak Productivity

The concept of “flow states”, according to Csikszentmihalyi, is the “mental state of operation in which a person performing an activity is fully immersed in a feeling of energized focus, full involvement, and enjoyment in the process of the activity.” This concept was once thought to be the natural talent found in artists and geniuses, though with future research anyone is capable of channeling a “flow state”. Michael Metcalf at Trello shares how the concept of flow states can help us as business professionals work better in the office. Metcalf explains how flow delivers both enjoyment and challenge in our work and can hugely increase satisfaction and productivity.  He says that anyone involved in contemplative, creative, or thoughtful endeavors can achieve a state of flow, just follow these 4 steps (a more detailed explanation of each step can be found in the original article – link at the end of this article):

  1. Make Sure You’re Focused On The Right Tasks
  2. Practice Makes A Perfect Flow State
  3. Find The Right Environment
  4. Take Care Of Your Creative Health

The flow state is a good challenge for those who struggle finding enjoyment in their jobs as well. While you may think how mundane your every day may be, by sparking creativity and productivity by tapping into your flow state, you may find self satisfaction and enrichment as well.

 

Original Post by By Michael Metcalf on Trello

For Full Article, Click Here

The Technology Of The Future Is Changing Business Today

Artificial intelligence (AI) has been a hot topic ever since it was first introduced. Thanks to the likes of tech billionaires Elon Musk and Jack Ma it’s been put in the spotlight more than ever. The reality is AI is the future of technology and we must be prepared for it. Serenity Gibbons at Forbes shares that AI and machine learning is already transforming the business world, and it’s only the beginning. Companies that are currently succeeding with AI are reorienting their entire business model around the technology. Of course there’s always going to be a few hurdles when implementing any new technology and AI is no exception. however, Gibbons explains how early adopters understand that the technology is still in its infancy and embrace any challenges that accompany integration because they would rather face those difficulties now than miss out on the opportunities AI will present in the near future.

Gibbons shares some steps for business leaders to take if they are considering planning an AI implementation. These steps can minimize short-term challenges and maximize long-term value.

  1. Align AI use with specific business objectives.
  2. Turn existing jobs into “superjobs.”
  3. Teach your team to work with data and AI solutions.

While some may have thought AI would take over the workforce, the opposite is true. Inevitably, these jobs will require new skills and new business processes. The World Economic Forum predicted a whooping 58 million new jobs thanks to AI from 2018 to 2023. So instead of fearing the future of tech in the business world, it’s time to start embracing it.

 

For Full Article, Click Here

Creating a “Bursted” Income Statement

, ,

To create an income statement for some accounting units, create an Accounting Unit list on MX10 that includes the companies and accounting units that you want to include in the report. Specify that list when running the GL293 and presto – an Income Statement with just those company-accounting unit combinations desired.

This can also be done by creating company groups if the “bursting” should be done by different companies.

A Level group can also be used which is great if one of your Accounting Unit levels signifies a reporting level.  As with the MX10 list, using RW70 level groups can also create a “bursting” effect to the GL293 Income Statement report.

Of course, creating different RW100 reports can also create the same effect and can be run together as a whole on RW100 by specifying a Report Group for example.  Use the same Format for all of the reports, and create different Row definitions that allow you to “burst” the income statement into different accounting groups.

How to make the right decisions about your ERP systems

Enterprise Resource Planning (ERP) systems are a huge asset in today’s businesses. However, there is still some hesitation when considering integrating such systems. Not only is it a question of cost, time, and labor, but the organizational structure around a new system that managers must consider.  Not only is the decision about your ERP solution one that you will not revisit for a long time, but it’s also one that will influence how your business operates for the foreseeable future. The ERP decisions you make today will directly impact the efficiency of your business. Steve Ronan at BizJournal shares some things to consider if your company is evaluating a major change to your ERP systems.

  • Value planning – Defining how the systems will add value to the business – both quantitatively and strategically
  • Selection – Defining business processes, key requirements, adding value, short-listing vendors, and setting aside implementation time
  • Budgeting – Considering licensing, infrastructure, bandwidth, investment, and staffing costs
  • Program management/implementation – executing the implementation with discipline and predictability
  • Governance and sustainability – How will you ensure that future decisions about system changes control risk and don’t create unnecessary complexity and chaos?

Keep in mind when exploring ERP systems, look for experienced consultants in both vendor-aligned firms and independent implementation practices.

 

For Full Article, Click Here