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Category: Software

Straight Line Depreciation and Reducing Balance Depreciation

Straight Line Depreciation This refers to the approach of charging the cost of an asset evenly over the period that such an asset will be useful and it is the best approach to use when; There is no actual estimate of the pattern of economic benefits that the asset is anticipated to deliver over its useful life. Economic benefits of an asset are expected to be realized evenly over its…

ARTIFICIAL INTELLIGENCE IN MANUFACTURING

ARTIFICIAL INTELLIGENCE IN MANUFACTURING The world today has become a platform where technology wishes to rule us all; a place in which living seemingly has become a lot easier and comfortable, due to the usage of gadgets. Today, there are tools and machines which when used make work faster, efficient and effective as well. These developments in modern times has evolved into the advent of artificial intelligence (AI). Artificial intelligence…

THE BENEFITS OF INTEGRATING ERP AND BI IN BUSINESS

BENEFITS OF INTEGRATING ERP Organizations, in recent years are increasingly committing greater amount of resources to get an integrated Enterprise Resource support (ERP) and Business intelligence systems implemented. The business world as well is becoming more competitive, dynamic and innovative. Complex systems are introduced almost every day to meet the tight goals that stare on us. These systems has become the basic business tools, which has brought great impact on…

WAVE PICKING IN WAREHOUSE

WAVE PICKING in Warehouse For a better way to ensure productivity in goods and services, especially to meet the demands of customers, the management team of a company often get tasked with the responsibility of setting up a system to compensate the loopholes that come up during business operations. In production, one of these is the strengthening of the warehouse management. This idea rooted chiefly in ensuring procedures known as…

Three Principles You May Forget In The Implementation Of ERP System

Principles You May Forget In The Implementation Of ERP System Business is dynamic and the ability for one to continue operating to the foreseeable future largely depends on its responsiveness to the changing business trends. To give flexibility and convenience to consumers, it is imperative to respond to the changing technological trends in business. ERP software (or enterprise resource planning software) is a software that is designed to be used…

How An Amazing Technology Can Change Your Business

Technology in Business The business world is becoming more and more innovative. Business technology which goes to the very foundation of business is on the rise. Technology is the primary driver of the world. Customers are always looking for new experiences while businesses are on the move to find new ways of minimizing operational cost in order to maximize profit. If you are ready to match up, why not take…

Difference Between Internet Of Things (IOT) And Industrial Internet Of Things (IIOT)

Difference between IoT and IIOT Internet Of Things (IOT) began as an emerging trend and has now become one of the changing elements that is driving the world in many respects. This is because there is an increased appreciation for smart objects, which tends to make life easier. In recent times, almost every appliance we use, ranging from iron, clothing, cars and other household electronics have some level of connectivity…

Cash Accounting

Cash Accounting Any business needs a clear record of all monetary transactions coming in and leaving the establishment, because this is what indicates whether it is financially stable of not. Cash accounting also known as cash-basis accounting is one of the financial recording approaches mostly used by small business establishments. Under this particular approach any financial transaction is recorded when it is actually incurred and not before. This includes all…

How to Innovate Without Blowing Your R&D Budget

Innovation without Blowing Your R&D Budget Speaking to Fortune, the late Steve Jobs stated that the degree of innovation does not rely on the amount of R&D dollars an organization has. For many companies, any problem is countered by throwing money at it. However, Jobs believed that creativity and genuine genius should be enough to win over money when coming up with an innovation. Indeed, cost reduction is not always…

What happens when your budgeting goes wrong?

What happens when your budgeting goes wrong A good budget should not have errors, miscalculations, or lack of oversight. This can have detrimental effects on the running of the business and can lead to its collapse. However, when the worse comes to worst, here are a few tips on how to deal with unexpected issues arising from your business budget and how one can plan ahead to avoid a repeat…