Hi, everyone. Welcome back. And thanks for joining me for lesson one. What is an earpiece system? I'm Jennifer Nicholson. Thank you for joining me to learn about choosing implementing an earpiece system for your organization.

First of all, what the heck is an earpiece system? I'm sure you've all heard the lingo, especially since you're taking this course. But do you really know what it is? here P is short for enterprise resource planning. It is typically software that consists of a group of integrated business management programs that an organization can use to help run his business. This type of system can collect organized, store process, interpret and report all kinds of data and can be customized to meet your specific business needs.

Does your business need an earpiece system? Well, all businesses are comprised of many different processes and you are likely operating a number of independent systems at this time. The benefit of an integrated earpiece system is that everything flows together. Reduces manual entry and the risk of errors that come with it. Enter a transaction once or better yet, have the computer enter it. And this transaction will flow through to AR AP, sales costs, inventory, etc, etc.

These systems also have tons of potential for data analysis, which enables you to manage your business better. Do you really need it though? That depends on a lot of factors that we'll talk about today. There are endless options that run the gamut from relatively simple, inexpensive, to very complicated and costly. Many factors will determine what type of system makes sense for your business. What can an earpiece system do?

Many people think of an earpiece system as accounting software, accounts payable, accounts receivable, General Ledger and financial statement preparation. That is one component of any RP system but only a tiny part of what is available to help your business operate more effectively. yr p modules are separate organizational systems that are linked together to facilitate the flow of information between business functions and manage connections to outside stakeholders. Some of the common ear p modules are as follows. Of course, financial accounting, the core module of any earpiece system, an earpiece system will automate and integrate your financial processes results in error free transaction processing. This was an earth shattering transformation for my previous organization.

As we were operating with an S 400 system from the early 1990s, which is the prehistoric days of accounting software. The system was about to crash any moment there was no backup and no solution. So we had to make the change. So this is often the catalyst for implementation of an MRP system and a natural first phase of your process. Start with the accounting system and add on in stages. And here are pieces that can help with your management accounting and your budgeting process.

By having a department had prepare his or her own budget, and then consolidating for the entire company. progress against budget can then easily be tracked and results can be manipulated to look at information in numerous different ways. activity based costing can also be used in monitored. Human Resources. an earpiece system can be used to control many HR functions, including time and attendance and vacation tracking, payroll processing and calculating remittances. My previous organization had significant training requirements for employees you do the dangerous nature of the work in the shipping business.

Our earpiece system was able to track training by employees and flag areas of concern. Manufacturing, an earpiece system can manage and monitor all stages of a manufacturing process, including engineering scheduling, capacity, workflow management, just in time production, etc. and feed this information into the management accounting model to determine costing order processing. Today's earpiece system can do everything from order entry, credit checking, inventory control, shipping, sales, analysis, and reporting and sales commissioning. This information can be linked to the manufacturing supply chain and accounting modules to ensure you have the inventory required when it is required and that sales are appropriately recorded. Thorough data analysis is available to monitor sales trends to determine where adjustments are required throughout the supply chain.

Supply Chain Management speaking of supply chain planning, scheduling, purchasing, inventory and warehousing can all be easily managed through your earpiece system. Project Management, Project Costing resource planning billing, time and expense management can all be tracked through your earpiece system. Customer Relationship Management, most earpiece systems offer CRM modules or can be easily interfaced with popular off the shelf software such as Salesforce. CRM systems allow you to track all customer interactions in real time, record results of meetings scheduled follow up, etc. Thank you for joining me. In the next module we will talk about what types of systems are available