Slate board with balance on it surrounded with candles on the back

Forget Your Competition

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Some of the most frequently repeated principles regarding business are concerned with competition. We are constantly being reminded to study, track and outperform our competitors. This advice, however, can lead us astray if it causes you to focus on what others are doing rather than maintaining emphasis on your own efforts.

 

Be Aware of the Competition

You should not ignore the competition or deny that it exists. That would be silly and counterproductive. It’s helpful to be aware of your competitors and to know what they’re up to. For example, if one of your leading competitors releases a new product in your niche, you will naturally be concerned and want to know everything about it. It’s sensible to keep a watchful eye on your industry and to be familiar with the players. There is no denying that competitors can have an impact on factors such as product features, prices and policies. It’s equally important, however, not to become obsessed with the competition.

 

When to Forget About the Competition

Essentially, you should take note of what your competitors are doing and then get back to your real job, which is to focus on your own products, services and, most of all, customers. Too many companies forget this and keep the spotlight on other businesses, those they are trying to outshine. This strategy can easily backfire. For example, if your advertising and promotional campaigns are constantly discussing why you are superior to Product X or Company Y, you are inadvertently calling attention to these other products and companies. Even when you are criticizing something, you are causing people to think about it. What you want people to be thinking about is you.

 

Where to Keep Your Focus

Your primary focus should be on your own business, products and customers. When you try too hard to beat the competition, you are going to be neglecting these crucial issues. Remember, few products are unique in every way. It’s pretty much guaranteed that there will be competitors who offer something similar to you. It’s also true that you are never going to control 100 percent of your market. Fortunately, it’s not necessary for you to beat your competitors into the ground in order to succeed. Your job is to provide the best possible value to your customers so they don’t have a reason to go anywhere else. The best way to do this is to foster an ongoing relationship. Developing that interchange allows you to offer the best possible products and services, clearly convey the benefits you provide and show your customers how much you value them.  The more effective you are at catering to your customers, the less bothered you will be by others in your industry. While you want to be aware of your competitors, they should never be your main concern. Differentiate yourself by offering the best possible customer service every day. Create loyal fans and they will be your best salespeople.

Baim Storming Sessions

Social Media for Distributers and Manufacturers

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Back in the day, when you wanted to get the word out about your products and services, you would have taken out an ad in the Yellow Pages. You paid for each year’s edition. It was costly and static and there was no way to determine if anyone even saw your listing. Social media is like the Yellow Pages on steroids. When you are the owner of a business or in charge of maintaining relationships with customers and vendors, it is important to know how to connect and maintain communication at all times.

When you implement social media for your own brand or business, you can open a dialogue with customers, vendors, and other potential business partners or associates you may work with in the future. Social media is an ideal outlet to promote brands with giveaways, contests, and announcements. It is a great platform to build professional relationships.

Why Social Media is Essential for Distributors and Manufacturers

Social media is a powerful tool for distributors and manufacturers. These platforms provide an opportunity to maintain ongoing communication with both customers and suppliers. They enhance the supply chain and business relationships. With the right social media strategy, distributors and manufacturers can increase brand visibility, foster engagement, and open new channels for business growth.

The Benefits of Social Media

Social media networks are completely free to use for both personal and business purposes. There is a very short learning curve. Since many of us already have personal Facebook and Twitter accounts, it makes sense to take the next step and create a brand page for your business and since most of us already have personal accounts on Facebook and Twitter, it’s a no brainer to move to the next level and create a brand page for your business.

Registering for an account on platforms like Facebook, Twitter, Pinterest, or Tumblr allows you to instantly expand your brand’s reach, regardless of the products or services you offer. When you register for an account of Facebook, Twitter, Pinterest or even Tumbir, you can instantly increase the reach you brand has regardless of the types of products and services you are trying to sell. Create social media pages for your business online to help build long-lasting relationships with potential customers and clients regardless of the industry you represent.

When you use social media to advertise your brand, there are fewer limitations and restrictions when it comes to reaching specific audiences. You can quickly add posts, images, and updates to your social media accounts to keep viewers and potential customers informed of new releases, sales, discounts and upcoming news you want to share.

Another side benefit is that you can reach customers outside of your immediate target demographic. You can make educated guesses, but you don’t always know where your next customer is coming from. A robust Twitter account gets your message out to the entire world and brings those outside your circle to the table.

Social Media for Business Purposes

Social media is a great way to maintain communication with everyone from family and friends to business associates and networking partners. Perhaps you are seeking new professionals to partner with, or maybe you are on the lookout for new companies for an advertising opportunity, social media helps to save time as opposed to using traditional print methods to market.

When you have social media accounts set up to represent your business or brand, you can easily reach out to ask questions. It’s also a great medium and to get input from individuals who are already your fans online.

A word to the wise: the more consistently you update your social media pages for your business, the easier it is to build a larger base of fans and followers. When you keep your online followers interested and engaged in the content you publish, it is easier to increase sales and through word of mount, peak interest in your brand.

Harnessing Social Media for Enhanced Connectivity with Mayer Group

Social media has become an invaluable tool for distributors and manufacturers. It allows them to connect with customers, vendors, and partners more efficiently than ever before. At Mayer Group, we specialize in helping businesses optimize their online presence. Contact us today to learn how we can help you implement a social media strategy adjusted to your industry and boost your brand’s visibility and engagement.

Piggy bank above a calculator

Should I Purchase my ERP or Rent it?

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Enterprise resource planning software is more essential than ever before and if you want to gain an edge over your competitors, you must ensure that you are making the most out of your systems. For small to medium-sized businesses, Midsize Enterprise Resource Planning (ERP) software is a worthy upgrade from less encompassing programs like QuickBooks.

However, using ERP software involves a number of decisions such as determining whether renting on a monthly basis or if purchasing is best for your business. Here are a few tips for choosing whether to rent or buy your ERP software.

Which is Cheaper?

Ultimately, one option will be more cost-effective for your particular business in the long run and saving money on software gives you the flexibility to spend elsewhere. If you know which package you want to purchase and want to commit for the long term, it may be best to buy it outright.

When you buy, you own your system and your data. Typically, you get a return for your investment within 5 years. When you pay a monthly fee for a SaaS-based solution, your data is hosted in the cloud environment and you pay a recurring monthly fee.

The convenience of a rented solution is not dealing with, worrying about, purchasing or maintaining infrastructure. To answer which path is cheaper, compare cost over 5 years. In most cases, purchased solutions end up being the less expensive alternative.

Is Flexibility Important?

By renting your ERP software, there are limits to customizations. For those new to ERP, having the ability to report on data from within the system is crucial. Having the ability to add custom reporting fields is a benefit of a purchased solution. Work with an experienced provider who can assess your needs and determine which system works best for your organization.

Are There Options?

The software economy is moving toward a model where applications tend to be rented or cloud-based. However, a one time capital expenditure may be more suited for companies that prefer not to commit to a monthly fee.

If you are interested in taking advantage of a cloud solution, purchased solutions can be placed in a hosted environment, and you won’t have to worry about infrastructure expenses. This can be a valuable middle ground for businesses that want to own their ERP but avoid the overhead of on-premise infrastructure.

The Right Size For You

ERP software is valuable for businesses of all sizes. This is because, as it allows owners and managers to focus on what they do best instead of dealing with financial nuances and logistics.

However, it is important to choose the right package for you. You have to decide whether it is best to make a one-time purchase and maintain a program, or rent it and pay ongoing costs.

Buy or Rent ERP: Making the Right Decision

Choosing whether to buy or rent ERP software depends on your business’s requirements, budget, and operational goals. Renting provides flexibility and avoids large upfront costs, but buying offers long term savings and greter control over customizations. Understanding the benefits of each option is important to making an informed decision.

Tailored ERP Solutions for Your Unique Business Needs with Mayer Group

At Mayer Group, we specialize in helping businesses navigate the complexities of ERP implementation. Whether you’re looking to purchase a full-scale ERP solution or prefer the flexibility of a SaaS model, we can help personalize the right ERP system for your needs. Contact us today to explore how Acumatica Cloud ERP can optimize your business processes and support your long-term growth strategy.

Operation room

How ERP Helps With Business Finances in the Medical Device Sector

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Since the very beginning of the computing revolution, business software has enabled new milestones in productivity and operational control. Throughout many industries, companies that implement ERP are able to realize improvements remarkably quickly. Few would disagree that this is an era of expansive business regulations, as well. In particular, corporate finance rules are becoming more numerous and complex. ERP software provides crucial support for responsible firms that prioritize compliance.

The medical technology sector has long valued cutting-edge applications for business. In this growing industry, up-and-coming companies and veteran firms alike value innovative software. There is a growing need for inventory management software for medical device manufacturers or distributors. Medical devices are valuable enough that any amount of loss or damage can affect professional reputations and corporate bottom lines.

Exact Macola is a great example of a business software solution for small to midsized medical device manufacturers or distributors. Innovative and critically well respected, this product supports medical device manufacturing and distribution with serial lot traceability. This sophisticated functionality allows companies to control their inventories with conscientious care. With Macola, Exact has solidified its reputation in the world of business software. Importantly, this company is an established developer that will support its products for many years to come.

Wherever ERP is fully implemented, businesspeople report improved internal transparency and communication. Historically, midsized and larger companies have struggled to understand discrepancies between multiple data sets. With different departments working from differing versions of the same data, it is understandably difficult to realize maximal efficiency. Manually resolving discrepancies is a time-consuming process that can distract from more important tasks. With ERP software, data is streamlined and stays consistent throughout the organization. With this consistency, cross-departmental initiatives and projects can operate far more smoothly.

Like many other industries, the medical technology sector is facing new challenges along with increased opportunities. While the aging of the general population ensures a strong need for medical devices, political and regulatory changes can limit profitability. Instead of passively reacting, cautious firms are acting now to improve efficiency. ERP solutions like Exact Macola can diversely improve workflow processes for medical device manufacturers and distributors. Throughout the business world, ERP applications like these are proving their qualities time and time again.

calculating expenses

Does Your Business Really Need Enterprise Resource Planning?

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Remember when your accounts receivable department consisted of a person with a sharp pencil, an adding machine, and a four column ledger?  Or how about when your inventory was handled by the high school kid who came in on Saturdays and counted what was in your warehouse?  While a trip down memory lane may bring a smile to your face, it will not bring clients to your retail space.

Today’s consumers are looking for much more.  Tech savvy and easily distracted by your competitors, consumers are doing their research on the fly.  They search the internet for today’s deals and the latest thing.  And they expect instantaneous, smooth service when they interact with your business as well.  This mindset extends beyond individual consumers into the business sector, as wholesale clients have similar expectations.

With the fast pace of business today, it may be time to get back to the basics of what really makes a business both productive and profitable for all concerned.  You know the answer.  Successful businesses keep up with consumer demand, and do it professionally.

To that end, modern businesses usually employ some type of enterprise resource planning technology.  Today’s ERP software must be much more agile than yesterday’s versions.  Examining the components of a comprehensive ERP system can greatly improve your position in the marketplace.

For instance, automation of accounts receivables does much to reduce the time your office staff spends on producing manual invoices, and also ensures quick delivery of those invoices to clients.  This in turn leads to improved cash flow, a real bonus to every business owner.

But a comprehensive ERP solution goes well beyond this.  Integrated software systems can trigger the creation of invoices when the order is filled, while also keeping a much more accurate and up-to-the-minute account of inventory status.  Such a system eliminates the redundancy of entering information into an inventory database and a receivables database.  What was done twice can now be done just once.  It is easy to see how this integrated approach saves time and money.

The same is true for your payables department.  Largely eliminating the need for written checks, an integrated ERP system greatly reduces labor-intensive tasks, freeing your staff to work on more profitable areas of your operation and providing for up-to-the-minute reporting of your cash position.

Not to be ignored are the benefits of ERP solutions which include a nimble CRM component.  With such a system, you can keep your finger on the pulse of your business by understanding consumer trends as they pertain to your enterprise.  This information is invaluable to the modern business owner, as it enables a rapid response to customer demand and optimizes your position in the marketplace.

For more information about how ERP software can work best for you, please contact us today.  We will be glad to help you reach your goals with seamless efficiency and optimum performance.

Clothes arranged properly based on its colour

Advantages of ERP Software for Retail

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Enterprise Resource Planning (ERP) systems are software programs that integrate data and retail business processes into a unified Information System (IS).

Prior to development of  ERP software, the retail industry was consigned to manage all inventory data separately. It’s like going back to accounting using an adding machine.

Fortunately today there are efficient software programs that tie all the logistics of most industries together into one comprehensive program to store, manage, collect and interpret information from all segments of the processes. 

DMS Retail, an online ERP newsletter, says that ERP manages the information from the manufacturing and delivery sector, manages inventory, tracts the cost of production and planning and follows marketing and sales data. 

The system functions from a central database that holds all the data relating to the various modules. In order to achieve a smooth utilization, the ERP system uses various hardware and software units. The system is designed to expedite the applications and optimize internal business processes across an organization. ERP has become the most competitive tool for retail organizations.

The ERP software packages have an enterprise wide reach that offers cross-functional capabilities to the organization. The different functional departments involved in the operations or inventory processes are integrated into a single system. An ERP program takes care of the various business processes such as logistics, order entry,  and warehousing. It integrates different business functions such as accounting, marketing, strategic management and the human resource management.

For more information about how we can help you with your ERP needs, contact us.

Discussing ERP Implementation Strategies

Using a Software Reseller

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Software resellers provide a number of benefits to businesses– especially when compared to buying directly from the distributor. When using a software reseller, the client is able to interact with a smaller company; this makes getting customer support and assistance easier, especially when the company is heavily focused on providing customers with the support that they require regardless of the type or size of purchase that they made.

Support for newly purchased software is fundamentally important for businesses of all sizes, and purchasing from a software reseller is one of the primary ways to ensure that a business receives the support necessary to avoid interruptions to organizational procedure as a new piece of software or system is integrated into the overall framework of the organization.  It can also help a business understand better the software they are purchasing– this can help newer, smaller businesses avoid costly mistakes when first looking for software solutions to common business problems.

Some resellers even offer higher value points to their customers: these resellers are known as  “Value Added Resellers,” or VAR.  These resellers offer the same benefits as other software resellers, but they can sometimes specialize software even more for the client or customer, essentially building the perfect platform for a business from the generic software platform provided by the software company.  

Building company-specific systems helps streamline business processes regardless of the market niche; it provides organizations with more freedom to explore other business options as well, because of the specialized nature of the software. The Mayer Group provides both software resale services and VAR software resale services to organizations in a number of different fields, as well as an in-house, U.S.-based customer support solutions for businesses of all shapes and sizes.

ERP on-site

Is ERP On-Site the Best Business Solution for You?

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Everyday companies are facing the challenge of how to enhance productivity. Deciding to go with cloud hosting verses ERP (enterprise resource planning) on-site software is tedious since there is really no right or wrong choice, but rather an issue of accessing your company needs and forming a strategy to find the best solution. Here are some advantages to consider regarding on-site software as a viable solution to your business needs. There are numerous advantages to utilizing on-site software, control being the most appealing. Consideration of on-demand or cloud hosting requires no data licensing costs, new infrastructure requirements along with employing third-party services.

With data security being an increasing concern companies are looking for ways to take back control preventing data leaks, security threats and other problems related to sensitive data. By deploying the ERP on-site model a company has the freedom to oversee their systems, data and most important the peace of mind that comes from knowing that critical business infrastructure resides in-house. If companies view employing IT as an investment, that investment is directly proportional to the requested scale solution. The average time frame for an on-site program is approximately 5-7 years.

ERP on-site allows for complete visibility into all the important processes, across various departments in an organization. Multiple geographic locations are also supported by network infrastructure. Although you need a license, the company owns the software. In addition to the upfront cost along with the annual maintenance /subscription renewal ranges about 20-25%.

Is ERP on-site the right choice for you? The answer lies in accessing your company’s needs and applying the best strategy. Cloud hosting is one choice among many, the good thing is it’s not the only option to consider for your business. Your option to determine the best way to grow your company is neither right or wrong however ERP on-site is recommended.

Contact us today to find out more information about how our consultation staff can help you with your manufacturing, distribution and service needs.

Doctor providing information to his colleague

ERP for Medical Devices

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The Medical Device industry is closely related to digital health which involves merging of the genetics and digital revolutions with health, living and society. It permits you to track, manage, and improve wellness as well as improve efficiency in healthcare delivery. Some of the important elements of the medical device industry are:

  • Wireless devices
  • Hardware sensors
  • Microprocessors
  • The Internet
  • Mobile area networks
  • Genomics
  • Health information technology

Enterprise resource planning, (ERP), for medical devices is software that allows your organization to use an integrated applications system to manage your business and automate back office functions. Compliance with the Food and Drug Administration and other regulatory bodies is a challenge in the business world. Fortunately, ERP systems bring together the tools needed to meet these challenges. Some of the benefits are:

  • More efficient workflows.
  • Visibility into processes for ongoing improvement.
  • Data re-entry prevention.
  • Improved data security.
  • Facilitation of collaboration activities.

Medical Device manufacturers need customer relationship management capabilities that support relationship sales strategies, mobile field sales, service support, inventory management, marketing, and accounts planning. Two software products available are:

  • Role-Based Workbenches which increase productivity up to 50 percent. They allow workflow to be configured for each user’s role.
  • A Mobile Metrics application that gives you access to your data from a tablet or smartphone anywhere, anytime.

Being successful in the Medical Device industry depends on your company’s ability to produce high quality products faster than your competition. ERP software solutions provide excellent financial management, product management and customer relations management.

For more information contact us.

Well-Integrated Manufacturing Software

5 Reasons You Need Well-Integrated Manufacturing Software

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When choosing a manufacturing software, you have many options available. Whether you are a fresh start-up looking to lay down the groundwork for your operations or you are looking to overhaul and increase the annual profit margin of your business, whatever your situation, you know that ERP software has worked for businesses like yours. You want to find the most cost-effective, productive option. So, here’s a few key focal points to consider:

 

Manufacturing Software for Long-Term Management

You want manufacturing software that will break down the key data for management, so you know the long-term decisions you need to make. First and foremost, you need a software which will give you the comprehensive, bird’s-eye view you need.

 

Manufacturing Software for Supervisors

In addition to the bird’s-eye view, you want manufacturing software that will let you know what is really going on at any point in time. Your ideal manufacturing software should know, moment-by-moment, what you have on hand in terms of personnel and other resources, and who is responsible for handling those resources.

 

Manufacturing Software That Is User-Friendly

As has been said many times, the best software in the world is not going to do much good if you don’t know how to use it. Make sure that you have taken the chance to see live demonstrations of the software, how it works, how it tracks information, how you ask for data, how reports will be presented. Consider making a list of the kinds of data you’re looking for, information you want to make sure will be in there and reports you must have.

 

Manufacturing Software That Will Achieve Buy In

Your manufacturing software has to work for all your employees. As with any major software implementation, make sure you have notified and properly trained all who will be using it. Even if you cannot please everyone in your company, advance notification can do wonders, as well as carefully soliciting opinions.

 

Manufacturing Software That Will Suit Your Business

Last but by no means least, look for the manufacturing software that will work with your unique business model. Find an ERP vendor that you are willing to view as a business partner, working together for your needs.

Mayer Group would love to be that partner. For more information on Macola 10 and our integrated suite of manufacturing software products, contact us today, and let’s get started.