Most enterprises are automating their Quoting process, either with a standard software vendor or custom software. My previous article “Quoting: Common Challenges” summarizes the business challenges in the quoting process and what enterprises should evaluate before adopting an industry-proven solution. While talking to several customers, a set of fundamental questions arise and getting answers to these questions …
Let’s face it. Cloud computing isn’t on everyone’s wishlist for 2019 and beyond yet. Organizations are slowly charting the path to Cloud but nobody is really there except of course the Cloud providers themselves Why? Cloud computing worked well for batch operations or high-performance computing. But for someone looking to port their on-prem applications to …
Among the core processes and problems of Configure-Price-Quote, configuration-related problems tend to be the most complex. Product modeling has been one of the earliest applications of Artificial Intelligence due to its complex nature. The history of the challenges and evolution of configuration systems from simple rule-based systems to knowledge-based systems is an interesting read in …
In this competitive world, quick and accurate order promising is the key to retain existing customers and to attract new customers, Oracle Global Order Promising acknowledges quick delivery promises that your customers can rely on. Oracle’s global order promising capabilities comprise of robust support for distributed global order promising and multi-level supply-chain from available to promise, capable …
Do the standard reports from your ERP work? No, most of the standard reports which are developed during an ERP implementation do not help the financial user(s) during the time of busy month-ends or for any analysis. Generally, the reports are run in ERP systems but get published in Microsoft Excel to perform calculations and …
ASC606 has many provisions for revenue recognition, but here are the 6 key considerations that will impact the majority of the companies implementing the standard. The considerations are pricing, loyalty, rebates, sales compensation, royalties, and billing. Organizations should check their current revenue recognition practices around these items and understand how it will change with the …
Rebates are the incentives given to customers to buy or consume more goods and services that will meet the rebate criteria and earn the rebate amount. Typically rebates are offered in multiple tiers with higher tiers offering larger rebate amounts which will encourage customers to buy more goods and services. Because rebates are a future …
From January 2018, companies in the US have to report their revenue according to the new Accounting Standards Codification (ASC) 606. The new standard is the joint effort of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). US companies will follow the ASC 606 standard issued by FASB while companies …
Companies whose manufactured products and processes, such as those in life sciences (medical devices, pharmaceutical, biotechnology, biopharmaceutical), aerospace, food and beverage, and some chemical companies, are increasingly regulated by government agencies. These manufacturing companies must keep detailed records of their design, inventory, and product manufacturing processes. Current practice in many of these regulated industries is …
Forecasting accurate revenue is a key capability that companies want from their QTC investment. In majority implementations of QTC, customers forecast revenue from opportunities in pipeline and order bookings. But these forecast numbers are not accurate as the revenue numbers can change before opportunities are converted into bookings, and bookings may not reflect the right …
