ERP Software Solutions

After years building event-driven systems. Here are the top 4 mistakes I have seen: 1. Duplication Events often get re-delivered due to retries or system failures. Without proper handling, duplicate events can: • Charge a customer twice for the same transaction. • Cause duplicate inventory updates, messing up stock levels. • Create inconsistent or broken system states. Solution: • Assign unique IDs to every event so consumers can track and ignore duplicates. • Design event processing to be idempotent, ensuring repeated actions don’t cause harm. 2. Not Guaranteeing Order Events can arrive out of order when distributed across partitions or queues. This can lead to: • Processing a refund before the payment. • Breaking logic that relies on correct sequence. Solution: • Use brokers that support ordering guarantees (e.g., Kafka). • Add sequence numbers or timestamps to events so consumers can detect and reorder them if needed. 3. The Dual Write Problem When writing to a database and publishing an event, one might succeed while the other fails. This can: • Lose events, leaving downstream systems uninformed. • Cause mismatched states between the database and event consumers. Solution: • Use the Transactional Outbox Pattern: Store events in the database as part of the same transaction, then publish them separately. • Adopt Change Data Capture (CDC) tools to track and publish database changes as events automatically. 4. Non-Backward-Compatible Changes Changing event schemas without considering existing consumers can break systems. For example: • Removing a field might cause missing data for consumers. • Renaming or changing field types can trigger runtime errors. Solution: • Maintain versioned schemas to allow smooth migration for consumers. • Use formats like Avro or Protobuf that support schema evolution. • Add adapters to translate new schema versions into older ones for compatibility. "Every schema change is a test of your system’s resilience—don’t fail it." What other mistakes have you seen out there?

Environmental Science graduates can enhance their career prospects by learning the following software tools: 1. GIS Software: Tools like ArcGIS and QGIS for spatial data analysis and mapping. 2. Remote Sensing: Software like ENVI and ERDAS Imagine for satellite image processing. 3. Data Analysis Tools: Excel, R, and Python for analyzing environmental data. 4. Environmental Modeling: Tools like MATLAB, HEC-RAS, and SWAT for modeling ecosystems and water resources. 5. Climate Analysis: Software such as WEAP (Water Evaluation and Planning) and SDSM for climate impact assessments. 6. Sustainability Tools: SimaPro or GaBi for life cycle assessments (LCA). 7. Air Quality Monitoring: Tools like AERMOD and CALPUFF for air pollution modeling. 8. Energy Analysis: HOMER and RETScreen for renewable energy project planning. Proficiency in these tools ensures graduates stay competitive and effective in environmental science roles.

ERP Systems ≠ Procurement Tech. The terms "procurement tech" and "digital procurement" often get confused with general enterprise IT tools. Your ERP system is NOT the same as a specialist procurement tech stack. ERP systems are (mostly) relics from the 1990s and early 2000s. Companies don't replace them because they're almost impossible (and very expensive) to replace from the ground up. They're also the essential backbone of what most businesses run on as an operating system. Procurement, at the time these ERPs were designed 25-30 years ago, was still in an administrative buying function called Purchasing in most businesses. Things have changed. Procurement has undergone a metamorphosis. ERP is not fit for purpose when it comes to the functionality for managing strategic procurement teams. Legacy ERP systems have a crappy UI/UX if you use them for transactional purchasing. They CAN perform these tasks reasonably effectively, but... Users hate them. Suppliers can't interface with them. Result: email overload. Burnt out Procurement teams spending 30-50% of their time on admin tasks that should be automated. In the second half of the 2000s, Source-to-Pay suites entered the stage. Coupa is probably the most famous example that's still around and still in a market-leading position today. These offered a better option to manage procurement operations in a system specifically designed for them. The downside? They can be a bit rigid, and increasingly look dated compared to newer Intake and Process Orchestration tools. S2P suites offer broad functionality, but often not with the depth required for category specific requirements, nor the consumer grade UX necessary for occasional requisitioners or approvers. Then you've got the best-of-breeds, or point solutions. These gathered momentum around 2018, and exploded during the pandemic. They offer simple and user-friendly solutions for one or more specific pain points. Often cheaper, with faster implementation. Integration may pose problems though, with disparate systems that all need to talk to each other in larger organisations. Now, we've also got "hybrid / mini suites" too, which kind of sit somewhere in between There's no right or wrong answer which is best. It depends on your budget, organisational maturity, and how quickly you need to see ROI. Knowing the differences and the pros and cons of each approach, however, is an absolute necessity. Need some guidance? Talk to me. ************************************* 👋 Hi, I'm James. I'm passionate about modernising our profession, thinking differently, and escaping the winter to somewhere warmer.   🦄 Confused about procurement tech? Grab our FREE Tech Maps (see top profile)

𝗪𝗵𝘆 𝗱𝗼 𝘀𝗼 𝗺𝗮𝗻𝘆 𝗘𝗥𝗣 𝗺𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗮𝗶𝗹? 𝗕𝗲𝗰𝗮𝘂𝘀𝗲 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝘁𝗿𝗲𝗮𝘁 𝗶𝘁 𝗹𝗶𝗸𝗲 𝗮 𝘀𝗶𝗺𝗽𝗹𝗲 𝘀𝗼𝗳𝘁𝘄𝗮𝗿𝗲 𝗽𝗮𝘁𝗰𝗵, not the business transformation it truly is. Listening to my network, there seems to be a rush to complete ERP migrations, as fast as possible, with SAP S/4HANA plans driving most of it. But an ERP system is more than just an IT upgrade. It’s a chance to redesign how your business operates and build a solution architecture that supports agility and innovation. While necessary, these migrations often become redundant without proper alignment to business goals. Something, I've seen happen! Here some get rights to consider: ◉ 𝗔𝗹𝗶𝗴𝗻 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗮𝗻𝗱 𝘁𝗲𝗰𝗵 𝗴𝗼𝗮𝗹𝘀 Ensure that IT and business leaders are on the same page. ERP systems serve broader business objectives, such as innovation, improving procurement strategies, and enhancing supplier relationships. ◉ 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗼𝘂𝘁𝗰𝗼𝗺𝗲𝘀, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝘁𝗼𝗼𝗹𝘀. Instead of getting caught up in the technology itself, be clear about the business benefits you'd like to achieve. New ERP functionality can be of support to achieve goals like efficiency, cost reduction, and agility. ◉ 𝗦𝗶𝗺𝗽𝗹𝗶𝗳𝘆 𝘄𝗼𝗿𝗸𝗳𝗹𝗼𝘄𝘀 𝗮𝗻𝗱 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 𝗲𝗻𝗱-𝘁𝗼-𝗲𝗻𝗱 Don't just migrate complex, outdated processes but streamline them end-to-end. Reevaluate processes for efficiency and desired outcomes. ◉ 𝗜𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗰𝗵𝗮𝗻𝗴𝗲 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 - 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗶𝗻 𝘁𝗿𝗮𝗶𝗻𝗶𝗻𝗴 ERP migrations often fail due to poor user adoption. Beyond training, invest in communication & ongoing support showing the value and relevance of the system to users. ◉ 𝗜𝗻𝘃𝗼𝗹𝘃𝗲 𝗰𝗿𝗼𝘀𝘀-𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝗮𝗹 𝘁𝗲𝗮𝗺𝘀 ERP impacts every area of the business, so cross-team collaboration is essential. Involve stakeholders from finance, procurement, IT, and operations ensures the system meets everyone’s needs. ◉ 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗱𝗮𝘁𝗮 𝗾𝘂𝗮𝗹𝗶𝘁𝘆 - 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗰𝗼𝗺𝗽𝗿𝗼𝗺𝗶𝘀𝗲 An ERP system is only as good as the data it processes. Ensure that data is clean, consistent, and reliable before migration. Dirty or incomplete data is one of the biggest challenges post-go-live. ◉ 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘀𝗲 𝗦𝘆𝘀𝘁𝗲𝗺 𝗳𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗼𝘀𝗮𝗯𝗶𝗹𝗶𝘁𝘆 Choose an architecture which allows for future-proofing and integration of new features, scalability and integration. Business models evolve, and your ERP must evolve with them." ◉ 𝗦𝗲𝘁 𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝘁𝗶𝗺𝗲𝗹𝗶𝗻𝗲𝘀 - 𝗶𝘁'𝘀 𝗻𝗼𝘁 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗯𝗲 𝗾𝘂𝗶𝗰𝗸 𝗶𝗳 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝘃𝗲 Don’t rush an implementation. ERP migrations are complex and require time to integrate properly. A phased approach allows for troubleshooting and mitigates a risk for failure. ❓Any other "get rights" i missed and you would add from your experience. #erp #businesstransformation #migration #sap4hana

Month-End Activities for Financial Statement Preparation Month-end closing activities are essential for producing accurate and reliable financial statements. A comprehensive breakdown of the steps: 1. Pre-Month-End Preparations Review Open Transactions: Ensure all revenue, expense, and asset transactions are recorded. Set Deadlines: Communicate closing deadlines to all relevant departments. 2. Reconcile Accounts Reconciliation is crucial to ensure the accuracy of financial data. Bank Reconciliations: Match all bank account balances to the general ledger. Subledger Reconciliations: Verify AR, AP, and inventory balances against respective subledgers. Intercompany Reconciliations: Ensure transactions between entities are matched and recorded correctly. 3. Record Accruals and Adjustments Accurate financial reporting requires capturing all relevant expenses and revenues. Accrued Expenses: Record any incurred but unpaid expenses (e.g., salaries, utilities). Deferred Revenue/Expenses: Adjust for revenue or expenses recognized but not yet due. Prepaid Expenses: Allocate monthly portions of prepaid items (e.g., insurance). 4. Depreciation and Amortization Fixed Assets: Post depreciation journal entries based on asset schedules. Intangible Assets: Record amortization expenses as per the company’s accounting policy. 5. Revenue Recognition Review and recognize revenue in compliance with applicable accounting standards (e.g., ASC 606 or Ind AS 115). Ensure revenue is correctly matched with expenses (matching principle). 6. Variance Analysis Compare actual results against budgets or forecasts. Investigate and document significant variances for review by management. 7. Inventory Valuation Perform inventory counts (if applicable). Adjust for shrinkage, obsolescence, or write-offs. 8. Consolidate Financial Data Consolidate data from all business units or entities. Eliminate intercompany transactions during consolidation. 9. Review General Ledger (GL) Accounts Trial Balance Check: Ensure the trial balance is balanced. Adjusting Entries: Post-correcting entries for identified errors. GL Reconciliation: Match balances with supporting documentation. 10. Tax-Related Adjustments GST/VAT Reconciliation: Match tax filings with the GL. Deferred Taxes: Calculate and record deferred tax assets/liabilities. 11. Prepare Financial Statements Income Statement: Summarize revenues and expenses to calculate net income. Balance Sheet: Ensure all assets, liabilities, and equity are accurately recorded. Cash Flow Statement: Compile operating, investing, and financing activities. 12. Final Review and Approvals Management Review: Provide draft financial statements for managerial review. Audit Trail: Ensure all entries have supporting documentation. Approval: Obtain necessary approvals from department heads or senior management. #rtr #accounting #finance #brs

Here's a concise 12-step process for month-end closing: 1) 𝐅𝐢𝐧𝐚𝐥𝐢𝐳𝐞 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬: Ensure all monthly transactions (invoices, expenses, etc.) are recorded. 2) 𝐑𝐞𝐜𝐨𝐧𝐜𝐢𝐥𝐞 𝐒𝐮𝐛𝐥𝐞𝐝𝐠𝐞𝐫𝐬: Match AR, AP, Inventory, and Fixed Asset subledgers to the general ledger. 3) 𝐑𝐞𝐜𝐨𝐫𝐝 𝐀𝐜𝐜𝐫𝐮𝐚𝐥𝐬: Recognize earned but unbilled revenue and incurred but unpaid expenses. 4) 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐟𝐨𝐫 𝐃𝐞𝐟𝐞𝐫𝐫𝐚𝐥𝐬: Adjust for unearned revenue and prepaid expenses. 5) 𝐂𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐞 𝐍𝐨𝐧-𝐂𝐚𝐬𝐡 𝐈𝐭𝐞𝐦𝐬: Record depreciation, amortization, and bad debt expense. 6) 𝐏𝐞𝐫𝐟𝐨𝐫𝐦 𝐁𝐚𝐧𝐤 𝐑𝐞𝐜𝐨𝐧𝐜𝐢𝐥𝐢𝐚𝐭𝐢𝐨𝐧: Match bank statements to internal cash records. 7) 𝐑𝐞𝐯𝐢𝐞𝐰 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐋𝐞𝐝𝐠𝐞𝐫: Analyze account balances for accuracy and unusual items. 8) 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐓𝐫𝐢𝐚𝐥 𝐁𝐚𝐥𝐚𝐧𝐜𝐞: Generate an initial summary of all account balances. 9) 𝐌𝐚𝐤𝐞 𝐀𝐝𝐣𝐮𝐬𝐭𝐦𝐞𝐧𝐭𝐬: Record any necessary correcting entries identified during review. 10) 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭𝐬: Produce the Income Statement, Balance Sheet, and Cash Flow Statement. 11) 𝐀𝐧𝐚𝐥𝐲𝐳𝐞 𝐑𝐞𝐬𝐮𝐥𝐭𝐬: Review financial statements for reasonableness and perform variance analysis. 12) 𝐅𝐢𝐧𝐚𝐥𝐢𝐳𝐞 𝐚𝐧𝐝 𝐑𝐞𝐩𝐨𝐫𝐭: Secure records and distribute financial reports to stakeholders.

You DON’T need fancy tools to do a rigorous techno-economic analysis! I mostly use number one on the list below. Techno-economic assessment (TEA) combines technical performance with economic feasibility, making it an essential tool for evaluating innovative technologies. Here are 5 tools that directly support the economic assessment and cost modeling components of TEA: 1. Excel / Google Sheets Why Use It? Perfect for beginners and widely accessible, spreadsheets are a great starting point for even comprehensive cost models, cash flow analysis, and scenario testing. Best For: Quick calculations, sensitivity analysis, and creating customised templates for specific projects. 2. Aspen Plus with Aspen Economic Analyzer Why Use It? Aspen Plus integrates seamlessly with the Aspen Economic Analyzer to combine process simulation with detailed cost estimation. You can model chemical processes and automatically calculate capital and operating costs. Best For: Projects requiring integrated process and economic evaluation. 3. Python Why Use It? Python’s flexibility and powerful libraries (e.g., NumPy, Pandas, Scikit-learn) allow you to create custom models for TEA. It’s particularly useful for automating repetitive tasks and conducting sensitivity analyses. Best For: Advanced modeling, data handling, and Monte Carlo simulations. 4. HOMER Pro Why Use It? A specialized tool for modeling energy systems, HOMER Pro optimizes the design of microgrids, renewable energy systems, and hybrid projects by balancing technical and economic performance. Best For: Renewable energy TEAs, especially for off-grid or decentralized systems. 5. GAMS (General Algebraic Modeling System) Why Use It? GAMS is a high-level modeling tool for optimization and economic analysis, allowing you to build custom TEA models for energy systems, industrial processes, and more. Best For: Advanced, large-scale TEA with custom scenarios. Each tool has its strengths and limitations. As you progress with TEA, you’ll find opportunities to combine tools—e.g., using Aspen Plus for process simulation and Excel for cost modeling. The key is to start with a tool that fits your needs and gradually expand your toolbox as you tackle more complex projects. Which tools do you use for your techno-economic analysis? #Research #ChemicalEngineering #Scientist #Sustainability #Science #Professor #PhD #Consultant

The biggest businesses can get major programmes horribly wrong. Here are 4 famous examples, the fundamental reasons for failure and how that might have been avoided. Hershey: Sought to replace its legacy IT systems with a more powerful ERP system. However, due to a rushed timeline and inadequate testing, the implementation encountered severe issues. Orders worth over $100 million were not fulfilled. Quarterly revenues fell by 19% and the share price by 8% Key Failures: ❌ Rushed implementation without sufficient testing ❌ Lack of clear goals for the transition ❌ Inadequate attention and resource allocation Hewlett Packard: Wanted to consolidate its IT systems into one ERP. They planned to migrate to SAP, expecting any issues to be resolved within 3 weeks. However, due to the lack of configuration between the new ERP and the old systems, 20% of customer orders were not fulfilled. Insufficient investment in change management and the absence of manual workarounds added to the problems. This entire project cost HP an estimated $160 million in lost revenue and delayed orders. Key Failures: ❌ Failure to address potential migration complications. ❌ Lack of interim solutions and supply chain management strategies. ❌ Inadequate change management planning. Miller Coors: Spent almost $100 million on an ERP implementation to streamline procurement, accounting, and supply chain operations. There were significant delays, leading to the termination of the implementation partner and subsequent legal action. Mistakes included insufficient research on ERP options, choosing an inexperienced implementation partner, and the absence of capable in-house advisers overseeing the project. Key Failures: ❌ Inadequate research and evaluation of ERP options. ❌ Selection of an inexperienced implementation partner. ❌ Lack of in-house expertise and oversight. Revlon: Another ERP implementation disaster. Inadequate planning and testing disrupted production and caused delays in fulfilling customer orders across 22 countries. The consequences included a loss of over $64 million in unshipped orders, a 6.9% drop in share price, and investor lawsuits for financial damages. Key Failures: ❌ Insufficient planning and testing of the ERP system. ❌ Lack of robust backup solutions. ❌ Absence of a comprehensive change management strategy. Lessons to be learned: ✅ Thoroughly test and evaluate new software before deployment. ✅ Establish robust backup solutions to address unforeseen challenges. ✅ Design and implement a comprehensive change management strategy during the transition to new tools and solutions. ✅ Ensure sufficient in-house expertise is available; consider capacity of those people as well as their expertise ✅ Plan as much as is practical and sensible ✅ Don’t try to do too much too quickly with too few people ✅ Don’t expect ERP implementation to be straightforward; it rarely is

❓ The technology may be able to help you transform, but how do you assess if the company has the internal capability to support the transformation?   Question received during the webinar "Experience GROW with SAP" (recording 👉 https://lnkd.in/gv-KWHKy) The successful implementation of transformation requires an understanding of an organization’s readiness to change. Identifying and evaluating the factors that affect an organization’s ability to adapt to new processes, technology & workflows. ☝ If you are asking this question - you are already on a right track. Majority of change initiatives fail, because we fail to do a first step - assess, if the ambition and organizations CAPABILITY and CAPACITY to support the transformation is there. ** Capability can be built, borrowed or bought. But more important, has organization capacity to do this on top of business as usual? ** Capacity means all leaders, employees and stakeholders are giving priority, focus and attention to transformation. Coming back to the initial question about assessing capabilities and readiness for change 👇 I, personally, like the ** Business Transformation Management Methodology ** (BTM2), which offers a comprehensive framework to address various facets of business transformation, including assessing a company's internal capability to support transformation efforts. According to BTM2, evaluating a company's readiness and capability for transformation involves multiple dimensions, such as organizational structure, culture, employee skills, technological infrastructure, and existing processes. More about this methodology by Rob Llewellyn here >> https://lnkd.in/gKEzbPyp Top 7 capabilities: 1️⃣ Strategic Visioning and Alignment: Are you able to define a clear and simple "Case for change"? The "Why". Defining a compelling transformation vision aligned with business strategy and ensuring stakeholder commitment is essencial. If people don't understand the why - stop here. 2️⃣ Leadership and Governance: Does everyone understand that to run the Transformation you need a proper governance structures, strong leadership who can inspire teams through change. 3️⃣ Change Management: Managing organizational change effectively, addressing resistance, and fostering adaptability needs focus. Are you ready? 4️⃣ Risk Management: How good is organization to understanding and managing risks? 5️⃣ Process Management: You will need End-to-End process definition and management. Do you run your business in functions or you talk processes? 6️⃣ Technology Management: How strong is your Technology team? You need a leader who can build bridge between Business & Technology. 7️⃣ Talent and Competency: Ensure your core team has experience to handle changes. Best is to hire someone who already went the same way at least once. Don't try to learn from your mistakes. How would you assess readiness? #sappartner #BTM2 #transformation

Modern ERP systems have enabled many parts of sourcing activities to be put into a single enterprise wide edifice of “truth”; from planning what to buy , when to buy and from whom to buy to the eventual fructification of the whole cycle of activities that traces a contract between a supplier and the firm to the receipt of goods and services to the perpetual cycle of supplier relationships that pervades the entire life of the supplier engagement as firms seek circular procurement partnerships (repetitive and constantly innovating to improve) and not a linear display that must start with contracting and end with the receipt and payment to the supplier. This in short is referred to the Supplier Life Cycle engagement. Supposing you want to buy an equipment, you cannot simply restrict yourself to the procurement of the equipment alone together with the service agreement as a onetime affair, but a circular process that enables you to partner with the supplier throughput the life of the equipment right up to the eventual end of life, after which the supplier could be involved in various recycling of the parts of the equipment such that the process remains sustainable. The life cycle engagement has other numerous connotations as during the running of the equipment all the necessary innovation needed on the equipment can only be done if the supplier is part and parcel of every running hour of the equipment. As the life cycles are getting shorter, the demand on innovation rises that much and it is only expected that the supplier remains entrenched with the firm in a myriad of exchanges that must be on a platform that makes allowance for all vital information to be stored and easily retrievable. In modern times this falls in the realm of Big Data, which essentially is a seamless continuous exchange of terra-bytes of information that can be visualised and put to best use by algorithms. But even in small measures, much of the supplier interactions are not part of the legacy ERP systems most firms use. Even when you have plugged most of the gaps in your ERP systems by adding several other layers of added re-inforcements, you will still find that the quest for finding the missing gaps still remain in our systems that incorporate the modules that sit on top of the ERP modules. These systems often fail to capture all data related to supplier interactions for several reasons, like Limited functionality, Data silos, Lack of integration Limited scalability Obsolete technology Poor user experience Lack of governance and standards Addressing these challenges often requires investing in modern, integrated, and scalable solutions that can effectively capture, manage, and analyze supplier data throughout the entire lifecycle. Thus migrating away from legacy systems towards cloud-based platforms specifically designed to address the complexities of SLCM, is the way forward. #procurement #clouderp #SRM #sustainablesourcing #slc #scm #scmforum #circularity