Using a Cloud Based ERP is like traveling on a plane. You don’t know the pilot, you just avail the utilities and comfort. You don’t have to fix an engine – and yet you fly- and you fly higher and higher.

As companies flourish, they take advantage of technology more and more to manage all the processes needed to do business. First, you look for accounting software, then an inventory management program, and maybe finish it off with a CRM.

What is ERP?

Enterprise Resource Planning (ERP) software is a system that is going to provide you a complete solution for all your business requirements. It replaces all the different small software with a unified platform for all the processes. (more…)

Lead Source

The lead source is the primary source by which a lead came from to your website. When you need to evaluate the value of your marketing campaigns, a lead source is an important piece of data you use for that purpose.  In today world, online marketing takes preference, marketers intend to meet consumers where they like to research.  The following may be the important online lead sources.

Blogging

Blogging is an important lead source.  You can make your websites the most effective for users through blogging efforts.   Think about the person who doesn’t know about your company, one day he finds your latest blog through a long tail search, gets the information about your company, and becomes your lead. (more…)

Balance Sheet

The balance sheet is a financial statement that provides information about company’s Assets, Liabilities, and shareholder equity, as of a specific date. The balance sheet gives the idea to the investors what the company owns and owes.  The information which is required to complete the balance sheet finds on the Company’s General Ledger.

Balance Sheet Formula

Total Assets = Total Liabilities + Shareholders’ Equity

In a balance sheet, the total sum of Assets must equal to the total sum of Liabilities and owner’s equity.  The assets account represent company own assets. While liabilities shows company’s all debts, and owner equity show company’s owner investment and past earnings. (more…)

Account Receivable

An account receivable is an amount which a debtor has to pay to the company within time against receiving the products or services from the company.  An account receivable is also called trade receivable.  Monitoring of account receivable is also very important for a company for follow up from those clients who have not paid their amount due.

Example

ERP Gold sells its software to his client and allowed him to pay within 30 days. Until that time when a company will receive the whole amount, it will be recorded as an account receivable.  An account receivable is treated as the current asset on a company balance sheet. (more…)

Concentrate on your Core Product

Giving more attention and research on a product can make your product and service more valuable in front of your clients. It is most important for small businesses to separate themselves by focusing on the exclusive potential and core products they bring to prospects.

Target the Right Customer

It is important to understand your potential market and target customer, your product may not have the same value for everyone.  For example, the interest of 18-year-old person will be different from 60-year-old man, you can select target market after defining key attributes.  (more…)