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6 Ways Disconnected Data is Harming Your Business

Yikes!

Disconnected data – What is it?

no​ The spreadsheet that your warehouse manager has off to the side to track his inventory levels and expected shipments from your key suppliers.

no The email orders from your dealer portal waiting to be manually keyed into your ERP. 

Disconnected data is a set of information stored separately from the main system that is used to run your business (your ERP system). The data is valuable and lack of visibility to that data creates problems throughout the organization. Far more than you realize.

A 2023 study by enterprise automation provider Snaplogic and Vanson Bourne researchers showed the following:

  • A quarter (25%) believe that disconnected data is causing the development of new
    products or services to be too slow, leaving them trailing behind competitors
  • Over six in ten (61%) are finding projects being constantly delayed by slow data
    integration
  • Nine in ten (90%) business users are required to complete tasks at work that they find
    boring and repetitive
  • Respondents are spending 32 minutes a day, on average, moving data from one system
    to another, equating to 19 working days per year

Yikes!

Here is an article that I came across on LinkedIn that spells out the 6 ways disconnected data could be harming your business: https://www.linkedin.com/pulse/inefficient-workflow-management-impact-disconnected-software-systems/

Crossroads RMC has the expertise to eliminate disconnected data. With decades of integration experience, Crossroads’ consultants can get your systems talking to one another and providing real time updates to and from your ERP system. This eliminates duplicate data entry, increases employee efficiency and provides a wholistic view of that data that you need to make the best decisions possible for your business.

Crossroads RMC FAQ on Integrations:  

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Tips:  LX | BPCS | M3

I'm reposting this checklist for things to consider in order to finish out the current year, and plan for next year…

  • Are your accounting records up to date so you can make a projection of how the current year will turn out?
  • Are all account reconciliations up to date to facilitate the closing of the books after year end?
  • Are there accounts receivable that should be reserved for or written off prior to the end of the year?
  • If your business carries inventory, do you need to plan a physical count as of the end of the year?
  • Has depreciation on your fixed assets been recorded during the year? Have you considered depreciation on current year additions?
  • Have all new asset purchases and bank loans been recorded on your books?
  • Are there any liabilities, for example, pending legal actions or warranty issues, which will need to be recorded prior to year end? 
  • Do you have a plan in place to properly “cut-off” revenue at year-end to properly match revenue and expense?
  • Will there be bonuses, profit sharing contributions or discretionary retirement plan contributions paid prior to the end of the year? How will these payments affect cash flow?
  • Will you be in compliance with your bank covenants at year end?
  • Do you need to make arrangements to receive statements as of the end of the year for cash value of life insurance, loan balances, etc.?

Optimize Your Manufacturing Today!

Key Performance Indicators measure how effectively your performance objectives are being achieved.

  • Have you defined KPIs for your company?
  • Are you measuring them effectively?
  • Is everyone in your company aware of what the KPIs are?

If you haven’t already done so, consider tying personal performance objectives directly to the company’s performance objectives. Doing so can greatly increase the likelihood that the company’s goals will be met.

Optimize Your Manufacturing Today!

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Tips: LN | Baan

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

  • Bank Statement Workbench (tfcmg5610m100)
  • Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

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