NO MORE HASSLE: HOW AN INTEGRATED ENTERPRISE SOLUTION SIMPLIFIES YOUR BUSINESS OPERATIONS

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1 NO MORE HASSLE: HOW AN INTEGRATED ENTERPRISE SOLUTION SIMPLIFIES YOUR BUSINESS OPERATIONS October 2017 Tel: (855) Us:

2 Enterprise companies use a variety of software to keep operations going on a daily basis. From updating accounting practices and invoices to tracking inventory movement, the right software helps your company become more efficient across the board. However, many of these programs were created by different developers, and may not co-operate well with other programs. Having multiple software solutions across company departments can lead to issues like miscommunication, confusion, lack of access across different users, and time sink to try to manage multiple platforms. It can also cost you money. For example, when your company first started out, you likely began by using QuickBooks to manage your finances and customer invoices. As your product availability and demand grew, you probably also instituted an inventory management program. And if you started to hire more employees, you probably used a separate system entirely to track their hours and pay. Trying to manage those three programs in tandem can become complicated, and there s no guarantee they will work well together. Having an assortment of software to address your business needs can lead to a number of problems, including a decrease in employee productivity, creating obstacles when it comes time to scale, putting a huge strain on your IT department, increasing difficulty of meeting industry compliance standards, and miscommunication between departments. The bottom line of all of these problems translates to a big-time loss in profit. On the other hand, having a single software that tracks all of these systems in one place can help you avoid all of these problems while increasing your yearly profits. Using a streamlined enterprise business solution will make it possible for your company to track all of the systems at hand and avoid the complicated issues that come from using a mishmash of software. What Happens When You Don t Have a Plan For Your Enterprise Software No business intends for their enterprise software solution to become redundant or complicated. Most of the time, these issues come about because of lack of planning. Most of the time, supervisors and managerial staff implement software when there is an urgent need for a solution. However, acting under these time pressures means that these companies don t make the best decisions when it comes time for purchasing decisions. Here are some of the biggest problems that come up when you neglect to plan out your software purchases. Page 2

3 Uncoordinated Software Software created by different developers has no guarantee of working correctly with other programs. There are thousands of programs out there, and each one of them uses different code. While some software is tested for compatibility with other programs, testing your current programs with any new program can be a hassle and might even cause unnecessary issues. Any changes to an operating system environment increase the likelihood of bugs in your system. One of the big reasons that Apple is known for having a more secure product is because they don t allow for third-party software. They only support software that has been tested or comes from an approved developer, so they can better guarantee how your systems will perform. You need to be able to depend on your technology at any given time, so you can t afford an unstable software environment. Third-party software is also more susceptible to system exploits, which can compromise the security of your data. In addition, you ll need to transfer some business records from one application to another. Some characters have different meanings from program to program, so what displays properly in one circumstance may not display at all in another. Trying to transfer files may become impossible, and could require you to rely on error-ridden manual data entry. Page 3

4 Scaling Obstacles As your company increases in size, the demands on your existing systems will expand. A collection of software that might have worked for a smaller company might crumble under the pressure of a mid to large size organization. Un-integrated databases also make it almost impossible to see business performance data in real time. Seeing reports from finance, fulfillment, marketing, and sales departments helps you make informed decisions about the directions your company needs to follow. The amount of time it takes to check in to multiple databases and acquire this information can be too difficult to pursue, leaving companies in the dark about the state of their business. The larger your company, the more data you need to track on a regular basis. While you can hire more employees to better process that data, you ll still need to put forth the time and effort required to manage those employees. That includes training time and handling potential HR complications. Software complications mentioned above can become a serious issue as your company increases in size. Dealing with software bugs on a large scale can become a huge drain on productivity and work time. It also creates complications that your IT department might not be able to handle. IT Strain The more things that can go wrong in a software environment, the more your IT department has to work to contain the issue. IT employees will likely spend most of their time trying to figuring out what went wrong with the latest software crash. This will take time away from their ability to support your clients and employees with other technical issues. Page 4

5 An estimated 75% of companies do not have the staff necessary to fight off security threats. These include cyber attacks and other large data breaches. There s no telling when a hacker will choose to target your company, and your team needs to be ready. If they re constantly dealing with software bugs, they might not even notice a security breach until it s too late. Overworked employees are 31% more likely to look for a new job than those who are comfortable with their workload. Putting too much stress on your IT department by forcing them to work with complicated software structures send them the message that you don t care about their time or effort. Compliance Issues Companies who use leased equipment have to ensure they keep up with industry compliance rules. Changes in lease standards are difficult to keep up with and require constant work to stay current. One of the latest examples of this is the FASB standard ASC 842. Aspects of this new regulation could affect most public companies when it takes effect in This standard requires all companies to report their leases on their asset balance sheet. For example, FedEx has $15 billion worth of leased equipment that currently isn't reported on their balance sheet. This new industry standard will require public companies to gather as much data as possible on their existing leases, and record information about new leases. Current systems make it difficult to track lease records on top of asset and other financial data. Not being able to record this information will make it incredibly difficult to adjust company policy to comply with this regulation without losing thousands in profit. Companies like FedEx need to capture information on all of their leased assets, so they can create an effective plan for compliance without losing profits from reporting $15 billion on their balance sheet. ASC 842 could result in a loss of leased equipment for companies who are unable to comply. This new leasing standard could make it difficult to track leased equipment. Current software programs may not be equipped to track assets and value of the leased equipment. Companies can try to purchase another type of software which will enable them to track leased assets and put them on the balance sheet, but this will jeopardize data security and workflow efficiency. Miscommunication While miscommunication may not seem like a big deal, it translates to a huge loss of profit for any company. On average, most companies lose $62.4 million each year as a result of miscommunication, while small companies lose $420,000. For many organizations, that's the difference between continuing to operate and being forced to shut down. Page 5

6 A lack of centralized information makes it difficult for everyone at the company to be on the same page. If accounting has different numbers than the sales department, employees from each area will end up making decisions based on faulty information. If the sales floor believes that inventory is fine, while accounting sees there is a crucial shortage of product, that company won't be able to meet their customer demand and could lose valuable clients. Having accurate information is crucial to being able to communicate effectively. When your systems are not integrated, you run the risk of any of your departments having inaccurate data, resulting in poor business decisions. Decreased Flexibility and Productivity When your employees have to take time to deal with software complications, it takes away from their ability to address other important work processes. IT support staff can't work on creating and maintaining automation systems, or improve other technology like company websites and software if they are spending all of their time dealing with programming bugs. Non-IT employees will also have to work around the complications that come from un-integrated software systems. Manually transferring data from one system to another takes time and is inefficient. One example is that many companies have a different point of sale software and inventory management software programs. Products from inventory are constantly cycling through and change on an hourly basis. Trying to sync sales from point of sale to inventory in order to reflect accurate inventory numbers will not reflect real-time data. Some platforms may work well together, but unless they come packaged together, there are no guarantee things will go smoothly. Even if they do come together, separate platforms introduce more computer code that can become corrupted and create issues. Bogged down software makes work processes go slower, and hampers productivity. If you are trying to expand, your company's growth will be hampered by distracted employees. This will limit the ways in which your business can expand, and can prevent your company from the profit you would otherwise get. Page 6

7 Introducing Pangata, Your Integrated Enterprise Software Solution The best thing you can do to avoid all of these problems is to employ an integrated enterprise software solution. Using a dedicated enterprise software platform provides the following benefits: n Information sharing n Process automation n Smaller IT workload n Accurate forecasts n Reduced costs n Increased company mobility n Safer, more stable integrations n Security only one system to track instead of several Pangata Powered by Asset Panda makes it possible for you to address all of your business software needs in a single platform. Using this software, you can create custom mobile applications in a matter of hours instead of months. This app will contain all of your information and environment requirements and provide you with a custom system perfectly suited to your company's needs. Pangata is designed to be an entire business process tool. You can use it for asset management, calibration and maintenance, certification tracking, compliance standards, facilities management, help desk ticketing, workflow processes, e-commerce inventory tracking for sellers on platforms like Etsy and ebay, and more. This platform makes it possible for you to customize your enterprise business solution. No two companies work the same way, so you shouldn't have to make do with a system better suited for another industry. This customization makes it possible for your enterprise solution to replace development processes that take months to create. With Pangata, you'll be able to manage and organize crucial business data with ease. Additionally, Pangata is structured in such a way that you don't have to worry about ASC 842 compliance. You'll be able to track exactly which items are subject to ASC 842, as well as what needs to be done in order to make it compliant. This centralized system will also be able to track expenses of making your equipment compliant, which of your employees is working on making your assets ready for inspection, and other integrated steps necessary to meet with this new regulation. Page 7

8 How is Pangata Being Used Now? Pangata was created as a natural expansion of the way some of our current customers use Asset Panda. We found that some of our clients were using the app in ways that weren't in the original intention, but that ended up being of most benefit to their company. For example, NEXCLEAN uses Asset Panda to access real-time feedback from their customers. NEXCLEAN provides medical equipment deep cleaning services to healthcare companies. The application makes it possible for them to provide current data about the status of equipment to their customers. Better For You Meals uses Asset Panda to not only track meals delivered, but also to assign custom actions for drivers to drop meals off. This allows them to maintain a more efficient workflow, as well as track the number of meals they are able to provide to those in need. Page 8

9 Asset Panda took these use cases as inspiration to create Pangata, a fully-featured version of our original asset tracking solution. Now your company can have exactly the kind of support and tools necessary accessible from employee smartphones. Asset Panda uses Pangata to track workflow processes. It makes it possible for us to manage implementation keys for thousands of clients, and ensure that we deliver the best possible outcome. It makes it easier for us to communicate as a team, set targets, and achieve milestones. One of our clients who started with Asset Panda uses Pangata to manage their fleet vehicles. They're able to store all information related to their fleets, like location, maintenance, and life cycle. They can also track vehicle calibration, test electrical equipment, and check employee certifications to see who can use specific types of machinery. These certifications have to be renewed every month, and Pangata makes it possible for them to stay on top of certificate renewals, employee compliance, and facilities management. Another one of our clients is a charity organization that uses Pangata to track donations made to their cause. They're also able to use it to track all of the services that are being provided to their cancer patients. Their needs went beyond asset tracking, and Pangata was able to help them track the various aspects of their business. If you're looking for an integrated enterprise business solution, Pangata will make it possible for you to create a custom solution that provides exactly what your business needs in a matter of hours. Sign up for a free demo customized to your business needs today! Page 9

10 About Asset Panda Asset Panda, the most powerful, yet simple to use asset tracking software in the world, enables clients to track their IT assets exactly how they want, and from the mobile devices they already carry. The platform may be accessed either online or via free mobile ios and Android apps that sync with the cloud. The apps include a mobile barcode scanner, so there s no need to purchase a separate handheld barcode scanner. Users can add voice notes, videos, documents or photos to the asset s information. The tool allows users to view check-in/check-out status, GPS location, lease/purchase information, complete maintenance history, insurance information, and the depreciation and in ation calculations your accounting and compliance teams require. Companies of every industry sector and size including some of the world s biggest brands have chosen Asset Panda to help them manage millions of dollars worth of vital assets. Tel: (855) Us: info@assetpanda.com Headquarter Office: 3001 Dallas Parkway, Suite 580, Frisco, Texas Copyright Asset Panda