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July 5, 2018

Benefits of Integrating eCommerce with ERP

Why Integrate eCommerce and ERP?

Most ERP implementations include integration with third-party add-ons to allow for such things as payment processing and tax compliance.

eCommerce integration with ERP system lets you avoid data duplication and/or manual data entry — allowing you to keep multiple systems in sync while ensuring you have a single version of truth. Integrating your eCommerce sales channels with your ERP system allows you to operate more efficiently as a business. Your main types of data – order, inventory, item, customer, and shipping/tracking – are communicated between your once independent systems.

eCommerce can be deployed as a standalone solution, but manually entering or exporting/importing data from the eCommerce store into backend systems is time intensive; which means, as a merchant, you are not able to provide an accurate view of product data, available inventory or latest pricing and promotions in real-time. And if shipping and tracking details are not sent on time, it can cause significant disruptions in merchandise procurement and delivery, leading to customer dissatisfaction, returns/refunds and eventually loss of revenue.

When these processes aren’t automated, it’s easy to make mistakes. Shipping addresses can be entered wrong. Incorrect inventory levels can lead to overselling. Product information could be incomplete, incorrect, or missing.

Ultimately, your customer experience is at stake, when you don’t integrate.

Business Benefits of eCommerce Integration

  1. Reduce manual entry to save time and increase throughput while reducing errors, when entering order, inventory, item, customer and shipping data

Accurate and intuitive product classification is also extremely important in ensuring that consumers find what they are looking for fast. Product attributes that are relevant to product categories make it faster for your customer to find the product they are looking for in a large catalog.

Having a robust integration that reads data feeds in real-time for new or updated products is extremely important in ensuring that all your channels have the same version of truth.

  1. Provide up-to-date order information, including shipping and tracking data

Customers (B2B and B2C) want up-to-date information on the status of their orders.

Customers want to get their tracking details, not just on the entire order but on individual items as well.  They also want the ability to have in-transit details aggregated from multiple shipping carrier and email notifications once an item is shipped.

  1. Inventory Integration – eliminate manual data entry and costly human errors

Avoid manual data handling errors and save time by syncing products & categories. Information are being fetched at regular intervals from ERP to eCommerce.

  1. Provide competitive shipping rates and services by integrating with third-party shipping APIs.

As a merchant, you may have negotiated rates with shipping carriers, or may support only specific shipping methods – which means that these shipping methods are all configured in your ERP system.

With an integrated web store, you can have shipping rates and services pulled directly from logistic carriers, and the shipping rates you support in your ERP system. The integration between the ERP and the eCommerce store enables the store to seamlessly display the supported rates and services that are in the ERP.

July 2, 2018

Introducing Microsoft Dynamics NAV 2018

A proven solution for your business

Microsoft Dynamics NAV 2018 connects key functions within your organization. Thus the solution helps you to increase productivity and to simplify your business process. Dynamics NAV 2018 runs in the Microsoft cloud or/and on your servers – the choice is yours.

The new features and functionalities of Dynamics NAV 2018, that have been added to the ERP solution since version NAV 2017, include, among others, an even more intensive Office 365 integration, an optimization of the Web Client and the visual appearance, as well as enhance­ments, especially in the financial accounting and inventory manage­ment.

Microsoft Dynamics NAV 2018 Feature Highlights:

 

General new features

With the new version, the user is fully supported during setup and configu­ration by various set­up wizards accompanying the user step by step in defining the para­meters for a certain module or area. In addition, all classic set­up pages can now be called at one single place, categorized by area. Another new feature is the ability to change the role center directly in the Web Client without logging off and to create user task lists that can pint to certain ERP-specific tasks, support prioritization and repetition, and can be connected to defined pages or reports. Version 2018 also allows the user to generate a PDF preview of reports in all major browsers (previously only Internet Explorer).

 

New financial accounting features

In financial accounting, dimension filters can now be applied to all dimen­sions. These are avail­able, among others, in the chart of accounts, general ledger, accounts pay­able and receiv­able. Certain Excel reports, such as balance sheets, profit & loss, cash flow state­ments or traw balance sheets, can now also be constantly updated via Excel. More­over, lists (e.g. journals) can now be accessed in Excel and changes written back, taking business logic into account. Both require an Office 365 account. Dynamics NAV 2018 also offers an additional sub­ledger for employees with individual “employee” ledger entries as well as an account type “employee” in the general journal (e.g. for settling travel expenses). .

 

New inventory features

Dynamics NAV 2018 surcharges based on gross weight and volume can now be assigned. Gross weight and volume are taken from the item card and units are converted based on this information. Another new addition is the opportunity to adjust vendors with OCR for an even more accurate re­cognition of invoices. Moreover, items can now be classified (category and further attributes) based on images (using a cloud-based Azure Machine Learning Algorithm).

 

Connect Workflows with Microsoft Flow

Internal workflows in Dynamics NAV 2018 can now be connected to Microsoft Flow. One use for this would be the approval process for quotes and orders. The approval can be done directly in Outlook, whereby the Dynamics NAV integration also allows the document to be displayed directly in Outlook (assuming Office 365).

 

Better extensibility and adaptability

Fields and their position can now be adjusted (i.e. fade in and out) in the Web Client. The respec­tive ad­justments are made across role centers and users and are stored as ex­tensions. Visual Studio Code can also be used as an additional develop­ment environ­ment for Dynamics NAV 2018.

June 6, 2018

Sundown run on 25th March 2017

As the Chinese proverb goes – ‘a single pair of chopstick break easily, but many pairs of chopsticks can sustain the pressure of not breaking.’ This teaches us that teamwork plays an important role in every aspect of an organization. This is evident in the recent Sundown Run where CyanSYS – led by our Managing Director and Chief Operating Officer – took part in the 5km, 10km and 21km run.

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June 6, 2018

2017 FRS Seminar 2017 – Rising to the Challenges

Foo Kon Tan LLP is one of Singapore’s most established and respected accountancy practices. Foo Kon Tan LLP, Chartered Accountants of Singapore and its associated companies provide a full range of assurance, tax and advisory services to help clients navigate the ever changing dynamics of the business and regulatory environments in the domestic as well as global markets. Today, they are amongst the top 7 accountancy practices in Singapore.

Come August 17, they are conducting the following seminar to give an overview on what is sustainability reporting, how does it impact the company and its stakeholders, and how does it affect company valuation? Foo Kon Tan LLP’s Director and Partners will also take this opportunity to go through the introduction of the new revenue recognition standard.


Programme Outline

Revenue Recognition – A closer look at the new revenue recognition standard, FRS 115
Revenue recognition will change dramatically with the introduction of the new standard, FRS 115 Revenue from Contracts with Customers. All organisations will face some challenges and additional work in relation to the implementation of the new standard. This will have a significant impact for many, especially entities where the current FRS provides little application guidance. Since FRS 115 was first introduced few years ago, there have been some clarifications and changes made. Now, get updated on the changes, clarifications and the sectors that are most affected by FRS 115.

Preparing for the New Financial Instruments Standard, FRS 109
FRS 109 Financial Instruments will replace FRS 39 Financial Instruments: Recognition and Measurement. The new Standard is complex and will have a considerable impact on financial performance, operations and financial reporting systems, especially in relation to the new impairment requirements. What are the changes between FRS 109 and FRS 39? Are you ready for the upcoming changes, in particularly the expected credit losses model, a paradigm shift?

Sustainability Reporting
A sustainability report goes beyond the financial, employee, environmental and social data; it demonstrates how the company integrates broader risks and opportunities into its long-term strategy, risk management, operating policies and procedures, and the trade-offs between these issues. This means that sustainability reporting pulls together information that sits in separate reporting strands to explain how the firm creates value for its customers and stakeholders. What are the reporting requirements in the Singapore context? How do you implement sustainability reporting?

Please click here for more details and to register.
June 6, 2018

LS Retail Platinum & Gold Award in Singapore and Malaysia

For more than two decades, LS Retail has been developing easy and practical software solutions to make the shopping and dining experience a pleasure worldwide. LS Retai products and solutions are sold through a global partner network and have been installed in more than 66,000 stores in over 120 countries.

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June 6, 2018

CyanSYS Private Limited Complied with IRAS Accounting Software Requirements FY2017

IRAS recognises the importance of accounting software in helping businesses comply with their tax obligations, and CyanSYS is proud to announce that their software are compliant with the latest IRAS (Inland Revenue Authority Singapore) requirement. The Company’s accounting software is approved for the second year running by IRAS from 1st March 2017 to 28th February 2018.

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June 6, 2018

Komugi

Komugi is a bakery and café chain offering delicious, handmade Japanese breads, cakes and confectioneries in various locations across Malaysia. The Komugi team of Japanese pastry chefs bake everything daily to ensure their customers enjoy the freshness and true quality of the brand.

Starting small

When the first Komugi Bakery & Café locations opened in Malaysia, they were using a local Point of Sale software, Raptor POS, to manage their sales. Each POS had its own database, which meant that when it was time to update prices, products or promotions, the IT staff was forced to remotely access every single store to perform the updates during the night. This was very time consuming and inefficient.

They also had problems with the database located at POS level, which caused discrepancies in the business data at the central database.

In their headquarters Multiple Rewards, the company managing the Komugi brand in Malaysia, used UBS as their accounting software. This system could however only manage general accounting, forcing the team to enter sales manually in the accounting system, after having collected the sales information from every single Komugi outlet.

All in all, Komugi was unable to exchange data easily internally, and a lot of manual work was required to compile and verify all the data coming from different stores, before manually entering the information into UBS accounting system.

The need for a powerful and reliable system

Komugi2-300x207As the business grew and Komugi opened more stores, the company realized that these disconnected systems were holding them back, wasting Komugi’s time and money on manual processes which could be automated.

When the company decided to look for a faster, more powerful and reliable system, they contacted CyanSYS , an LS Retail partner based in Singapore. CyanSYS advised the company to implement LS Nav Hospitality, a complete management system for hospitality businesses based on Microsoft Dynamics NAV.

Timely and accurate reporting

Komugi-300x207With LS Nav Hospitality, Komugi is now able to generate reports quickly and efficiently. With the old system, it took at least 2 hours to generate sales reports, forcing the staff to to manually access each store remotely – all the while, working after business hours in order not to disrupt the business. Now, thanks to LS Nav, Komugi’s sales reports are always up-to-date in the system. This enables executives to create action plans in response to real-time trends, and take smart decisions that have a direct impact on their bottom line.

Easier expansion

Today Komugi can manage its whole chain in one single business management system.

LS Nav Hospitality also simplifies and supports the brand’s growth. Multiple Reward is satisfied with how easy and quick it is to open new stores: it only takes a day to the Komugi IT team to roll out the core technology in new locations.

June 6, 2018

Microsoft D365: Release In July

Microsoft announced the official name and release date of its new cloud ERP solution. D365 will officially be available in July.

The cloud-based all-in-one business management solution, which was formerly known as Dynamics 365 “Tenerife”, will have the full functionality of Microsoft Dynamics NAV. The On-Premise version will continue to exist.

Starting July 1st 2018, Dynamics 365 Business Central will be available in Singapore in two price packages: “Essential” and “Premium”. The “Essential” version contains all the key modules, such as those required for finances, operations, sales and customer service, as well as human resources, project and supply chain management, whereas the “Premium” edition has additional modules for service order management and manufacturing.

D365 is intended to upgrade entry-level accounting software and ERP legacy systems easily and quickly. Updates are performed automatically by the cloud solution to eliminate complex upgrade processes. The basic functionalities integrate with other Microsoft cloud services (e.g., Office 365) and can be customized and extended with PowerApps, Microsoft Flow, and Power BI for specific, growing, and changing business needs.

Microsoft’s primary goal is to create a flexible cloud platform through automated tasks and workflows (using familiar tools such as Office, Outlook, Word, and Excel), networked data and intelligent technologies to offer users a standardized and efficient way of handling business transactions. The created company networking will be helpful to make informed decisions. D365 has also a new modern user interface to provide a better overview and increase productivity.

NAV07_18_Dynamics-365-Business-Central-768x259]With the enhanced user experience, its extensibility, and the full functionality of Dynamics NAV, the all-in-one business management solution offers many benefits – particularly for companies, which are looking for a flexible solution that grows and changes with them just as their requirements.

June 6, 2018

CyanSYS Private Limited Complied with IRAS Accounting Software Requirements FY2018

IRAS recognises the importance of accounting software in helping businesses comply with their tax obligations, and CyanSYS is proud to announce that their software are compliant with the latest IRAS (Inland Revenue Authority Singapore) requirement. The Company’s accounting software is approved for the third consecutive year by IRAS from 28 May 2017 to 31 December 2019.

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June 6, 2018

Microsoft Dynamics NAV 2016 (accounting) compliant with Singapore IRAS

Photo of human hands holding pencil and ticking data in documents

It is important for new startups or any small-medium businesses to have proper and reliable accounting software that comply with tax obligations and regulatory reporting right from start of their formation.

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