ERP Software Cost – Direct And Indirect Costs

Jul 16 2020 Published by under Uncategorized

ERP software cost includes all the direct and indirect costs incurred, from purchasing the software till implementation process is completely over. Some costs are clearly evident in this process while some are silent or hidden. Generally an incomplete analysis of ERP cost would just include the expenses to be made in purchasing of software and hardware whereas total cost of ownership of ERP goes far beyond than just these.

By a survey conducted way back in 2002 it was estimated that an implementation of ERP on an average cost $15 Million ranging from $0.5 Million to $300 Million, but it is quite an old estimate, times have changed a lot since then and there surely would be major change in the average cost of implementation. However, the factors affecting the cost have not changed and more or less remains same as they were right at the beginning. The cost of purchasing the software and cost of installing the hardware necessary for running the ERP are two basic cost centers involved with ERP ownership. Apart from the purchasing cost the cost involved in making the system run in the form of manpower, system software, purchase of software for security features and checking third party intrusion, license renewal fees etc should also be taken into account.

Implementation process involves lots of activities and these days most of them are preferred to be done by taking help of external consultants like functional analysis of the company to prepare ‘as is’ document. Similarly, for technical analysis and GAP analysis services of experts or agencies are availed to get the best output and independent opinion. These services incur costs and increase total cost of ownership of the ERP. Indirect cost in these activities are those man hours which have been invested by the in-house staff for getting these activities done, these costs are ignored most of the times, but have crucial impact on total cost of ERP implementation.

To provide sufficient training, companies need to invest decent amount of money firstly in hiring trainers or paying the consultants imparting training to handle the ERP, hiring technical staff to support the ERP and training them according to the software and hiring or developing existing managers as ERP consultants for future needs. All of these add up to the total cost of ERP software.

Cost of tools and software required for integration with external entities, for optimum utilization of the ERP and for integration with present system also cost and these costs vary according to the scope of implementation and ERP software itself. Some ERP software may need lot of these tools and software and some may not.

Data conversion is another activity that involves cost depending upon the nature of the ERP and the format and media on which old data has been stored. Actual cost of data conversion can be accessed only by putting together all of these factors and sometimes it can be quite high. Testing of ERP its components, performance and user acceptance is a compulsory process which has to be conducted before going live and this activity also incurs cost on the company to increase total ownership cost of the ERP. Some companies may spend more money on one process and another may spend less but for calculating actual and realistic cost of ownership of ERP all of these cost centers are needed to be included.

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How Event Software Increases Your Efficiency and Reduces Your Costs

Jul 14 2020 Published by under Uncategorized

Reducing the number of events you are running is one way to handle budget reductions; however automating a number of the event processes involved is the more proactive and effective way of managing budget cuts. Most event organisers, whether in a local authority or in the commercial events market, just want to do more for less and the implementation of an online event software solution can help them achieve this by:

  • Reducing staff costs through the automation of processes
  • Promoting a paperless office through the implementation of a fully web based solution
  • Closely monitoring and managing budgets and costs
  • Giving you time savings through the integration with all internal business applications
  • Implementing an unlimited user site licence which can be used across multiple services / disciplines
  • Providing multiple deployment options with low installation costs

Event Efficiency & ROI

Event managers in both the commercial market and within local authorities can improve the efficiency of their event management practices by making use of event software. An online event solution, once implemented, will ensure your organisation adopts best practice event management processes by controlling and managing the automation of these activities from one central location. Utilising a software solution designed specifically for event management has proven to have huge cost and time saving benefits through the management of the following activities:

  • Website Integration
  • Event Microsites
  • Online Registration
  • Event Communication
  • E-Invite
  • E-Survey
  • Badge Production
  • Resource Management
  • Management of Financials
  • Travel Management
  • Meeting Scheduler
  • Event Reporting and Analysis

Measuring your event ROI is now more important than ever but how do you know how efficient your events are? Using event software is an effective way to increase efficiency, generate more revenue back to your business and to sustain your customers. Face to face event marketing is one of the easiest ways to measure whether you have met your event objectives and can be further simplified if you have the necessary tools in place, such as those found within an event software solution.

It is imperative that you are able to quantify the results and feedback post event and measure costs such as cost per delegate and overall event profitability; therefore allowing you to provide accurate projected sales forecast to your business. Event management systems let you do this and will process your event data for you making the evaluation and reporting process much simpler, less time consuming and more cost efficient.

Self Service Web Portal

So your budget has been reduced but how do you guarantee that your events don’t suffer because of this reduction? One way is to capture a delegates/citizens journey online through a self service web portal, this will demonstrate not only how committed you are to ensuring your delegates/citizens event journey is smooth but also ensuring your information is up to date, clean and accurate.

Implementing an online event solution with a fully functioning web self service portal will allow delegates to access their personal information from any location at any time. Delegates/citizens can view and book onto events via the categorised sections of the portal, from the comprehensive search mechanism and via the events calendar. Once booked onto an event, reminders, notifications and updates can easily be communicated to all relevant parties. Using an online, multi faceted event solution will enable you to manage, monitor and control all services online through a fully functioning self service portal. The portal will mimic your existing website using your specific branding and domain URLs for commercial and government services and for all types of events such as;

  • Seminars
  • Workshops
  • Conferences
  • Internal corporate meetings
  • Training courses and
  • Incentives
  • Registrar appointments
  • MOT registrations
  • Bikeability
  • Outdoor activities
  • Refuse collection
  • Pest control

The event booking portal is your delegates/citizens online view into the events/appointments that you are running and is the one place where they can manage their event bookings and their online events profile. An online comprehensive self service web portal will allow the event manager to be well organised, multi-task and provide your organisation with clear efficiency gains such as time savings, cost savings and improved event performance.

In the case of local authorities this will cut down costs significantly as delegates/citizens are only able to book appointments dependent on certain criteria. Using an example of booking a registrar appointment for notices of marriages, the criteria required to book such an appointment is dependent on a large number of variants. Applicants must answer a set of questions such as whether it is a civil partnership or not, nationalities, country of residence, district they live in, age, time of residence in said district etc. An online self service booking portal in such a case provides a cohesive journey for the citizen/delegate asking them these required qualification questions, leading to the final stage of allowing them to book an appointment online (if they meet the set criteria). If they are unable to book an appointment due to a failure to meet the requirements, the reasons are explained along with action steps to help them get to the next stage in the process. Giving citizens/delegates the ability to book appointments online in this way ensures the registrars time is utilised efficiently.

In the case of a commercial events organisation, utilising a self service portal has a number of clear and defined efficiency benefits, from clean and accurate data through to enhanced delegate management. A self service event portal will allow the delegate to register online – from the point of booking, to payment, to registering on the day; ensuring the delegates’ journey is quick, painless and error free. Events that have low efficiency are events that have been poorly organised and managed and will leave the delegates with an inadequate experience, resulting in reduced delegate attendance for future events.

Event management software can help event managers plan more successful events with a greater level of efficiency. But the benefits aren’t just to the event managers – delegates/citizens can reap the rewards of more flexible and appropriate communication, fewer errors and improved event experiences. With the event management industry being hit with rising costs, reduced budgets and lower delegate attendance, it’s crucial that businesses organising events are as efficient as possible and continually find ways to improve their event processes. It is the companies that tackle efficiency issues head on, and employ the use of technology who will ensure their events are successful now and in the future.

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How to Handle Increasing Costs During Software Development

Jul 12 2020 Published by under Uncategorized

However, each company wants to minimize their project costs and be able to develop a viable product with respectable set of features. One best way to introduce cost efficiency is to opt for bespoke software development services. In other words, you should hire third-party/individual resources for your project or even in some cases completely outsource your project to a third-party company.

Using Agile Software Methodology

Often just categorized as a modern concept for software development, Agile is much more than that; especially if you are looking for a rapid turnaround time for feature development. Agile allows faster development of a set of features through sprints and milestones. Practiced through a Product Owner, who figures out the features in the product scope; Agile allows defining the critical path of features, their order and how features should be developed in the project lifecycle.

The project team is a primary stakeholder in defining the time required to develop a feature. The time is a variable that determines the sprint velocity. After a few sprints, the product backlog is continuously groomed with more visibility and discipline in taking on further features for development. The momentum continues, the team formation becomes stronger with each resource knowing their set of tasks.

Agile, in essential is a core principle which when practiced in its true spirit allows a more focused discipline including significant decrease in software development costs. Its primary advantage is to work with a handful of resources, who are zoned in in achieving their tasks, working in a close-knit set with cross-communication and cross-collaboration as key factors.

By hiring a custom software development company for your project, you can shift the entire project development risk to a third-party who takes up the project with utmost responsibility of delivering the solution on the decided time and budget. As a result, you have your hands free to take other dimensions of product management such as the strategy of marketing, and selling the product to customers. Nowadays, it’s all about having ways to branch out and establish your market presence. Through outsourcing your project, you give yourself the leverage to focus on other aspects of product management to ensure your product is well received in the market place.

Minimum Viable Product

At times, custom software development companies get overboard and want to accommodate every single whim of their customers. However, it’s important to know the difference between must-haves and wish-list. Not every requirement is going to give your product an edge against competition. Some features are better to let go and concentrate on developing a minimum set of features that are workable, tested and give users a seamless experience.

Using Open Source Software

The best part about specialized software development solutions is that anything under the sun has been tried by someone out there; unless your idea is as unique as the word unique itself. However, some part of your software is already similar to some remote open source software that is available to you for reusing in your code. Yes, you’re welcome!

So, basically what this means is that you can add a code component in your project that’s already available as a plug-in which is a tested, verified component awaiting to give you a certain functionality without additional resource, and time required from your end. However, you do need brains to integrate that component with your code and also test whether the component works with your product or not.

With the right developer who has the smarts for tackling open source software and incorporating it wisely in the existing code, your project gets the right boost in getting a proper workable component.

DevOPs are Life Saviors

DevOPs when part of your project team can be one of the main stakeholders with advice on infrastructure, performance and efficiency aspects of the product. They are also the main people to advice on deployment of the product on machine, and how the project is transferred to the operations team as smoothly as possible. Although, the DevOPs seem like an overhead but their inclusion in the project team helps you prevent from hidden costs that may affect the successful timely delivery of the project.

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