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Given the uncertainty of today’s business climate, owners and managers have a lot of questions about everything from sales and operations, to logistics and inventory. The answers to these questions will help determine next steps, whether it’s to pursue new products or markets, drop under-performing branches or reduce raw goods in the face of industry slowdowns. All of these are real scenarios, and making decisions on gut feel or based on traditions are likely to result in disappointments, or worse, losses. Data analytics has never been more important to help organizations find answers to their critical business questions and help owners and executives understand how their businesses are truly performing.
Data Analytics From The Source
For most companies, there are multiple sources of data, as well as untapped data silos where undervalued information may reside. Keeping pace with this growing data, as well as ensuring key pieces of information are considered for decision making, can be exhausting. Many ERP systems, as important as they are to business processes, were not created for intuitive data access and analysis. In addition, if Excel spreadsheets are the foundation of your reporting, then true data analysis can be challenging as you are limited to the static numbers that you can see, and not perhaps the beauty of the details beneath the surface. This is why understanding business performance, truly digging into the details to find answers to shape strategic decision-making, is challenging.
But this is why Epicor Data Analytics (EDA) is so valuable to businesses. EDA was built from the ground up to provide access to intuitive data analytics for users of all skill level. Data is critical to everyone’s role, so limiting access and analysis to specialists, or managers and higher, limits what team members can do within their roles and responsibilities.
Perhaps the strength of EDA and data analytics is the ability to turn raw information into easy-to-understand dashboards and scorecards. Modern data analytics systems such as EDA enable users to quickly and easily connect diverse data sources into a single source of truth, and conduct ad hoc analysis. The software does most of the heavy lifting, presenting results in interactive dashboard that can be shared with other team members, customers and decision-makers.
Measuring Business Success
Converting the data into a visual presentation such as a chart, graph or table, eliminates much of the guesswork, providing clear indicators of challenges and opportunities. In addition, with a simple click, users can drill-down, or use advanced dashboard filters, to view the underlying transactions or take the analysis even further to different angles or more levels of granularity. These fully customizable dashboards and scorecards help companies to combine all of their information into a single location so that the entire business is referring to and analyzing the same information.
Armed with access to a single source of truth, easy-to-use data analytics, easy-to-understand and interactive dashboards and scorecards, team members across the organization can be empowered with the ability to make important, data-driven decisions. This level of information strengthens the ownership that everyone in the company has in their role and area of responsibility. Perhaps more importantly, it makes tracking performance across individuals and departments, and as a whole, easier and more powerful, as owners and executives can monitor the business from all levels, providing a much more comprehensive picture of performance.
Dashboards and Scorecards Webinar
To learn more about EDA, the importance of data analytics and how to use dashboards and scorecards to track business performance, watch the recorded webinar:
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.
Today, businesses are trying to make important decisions accurately and efficiently — and to do that, you need access to the right information. But, keeping up with all of the available data can be exhausting – from sales figures and inventory data to financial management information. Do you know how your business is really performing?
EDA Dashboards and Scorecards Webinar
Dashboards and scorecards give valuable insights into your business and allow your teams to uncover new opportunities and improve efficiencies. Join our webinar, Dashboards & scorecards: How is your business really performing and discover how you can turn your raw data into actionable insights to open up new opportunities, reduce costs and streamline processes with Epicor Data Analytics.
In this webinar, you’ll learn how to:
- tailor dashboards to your business needs
- summarize an entire database in a single interface
- create an overarching view of your business that can be accessed anytime, anywhere.
When:
September 10, 2020
1PM ET
During this webinar, you’ll see EDA dashboards and scorecards firsthand and learn how you can become a trailblazer in self-service, reporting, dashboards and analysis. We look forward to seeing you there.
About Epicor Data Analytics
Epicor Data Analytics (EDA), powered by Phocas, is an easy-to-use cloud service with powerful tools to help you reduce costs, identify new opportunities, and speed decision-making.
- Stay up-to-date with the daily changes of your business
- Eliminate time-consuming and error-prone manual reporting processes
- Visualize data across all of your business systems from production to sales
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.
In today’s business environment, organizations need the flexibility to adjust their metrics to adapt to current market conditions — not spending time looking in different places to get basic reports on the status of business operations. Introducing: EDA Financial Statements, which allows for timely, accurate and accessible financial reporting.
EDA Financial Statements Webinar
Join our webinar to see how modern finance leaders configure statements for their entities as well as branches, departments, product lines and more. And with permissions in place, empower users to proactively manage their performance and effectively answer their own questions.
In this webinar, we’ll uncover:
- why it’s urgent to advance from static spreadsheet reporting
- automated consolidation and presentation of month end reports
- ways to empower managers with information they need to perform
- a centralized source of timely and accurate financial data
- why secure cloud access is critical for business continuity
- how to do so much more than analyze AR/AP and ledger data in EDA
When:
August 25, 2020
2PM ET
During this webinar, you’ll see EDA Financial Statements firsthand and learn how you can become a trailblazer in financial self-service, reporting, dashboards and analysis. We look forward to seeing you there.
About Epicor Data Analytics
Epicor Data Analytics (EDA), powered by Phocas, is an easy-to-use cloud service with powerful tools to help you reduce costs, identify new opportunities, and speed decision-making.
- Stay up-to-date with the daily changes of your business
- Eliminate time-consuming and error-prone manual reporting processes
- Visualize data across all of your business systems from production to sales
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.
Epicor Data Analytics (EDA), powered by Phocas, is an easy-to-use cloud service with powerful tools to help you reduce costs, identify new opportunities, and speed decision-making.
- Stay up-to-date with the daily changes of your business
- Eliminate time-consuming and error-prone manual reporting processes
- Visualize data across all of your business systems from production to sales
EDA factsheet – Download
EDA customer success story – Download
EDA top-ranked Highlights in Business Application Research Center (BARC) Report – Download
Epicor Data Analytics Prebuilt Content Packs
Each of the currently available Epicor ERP content packages for EDA provides starter dashboards and deep integration into a specific set of Epicor ERP data. You have the freedom to build onto these content packs with any additional fields from Epicor ERP and augment from any other data sources, such as Salesforce and ADP.
Epicor Data Analytics for Sales (sales, orders, quotes)
Quickly discover business trends by visualizing the sales data in your Epicor system. Get deeper insight into sales results by account, location, geography, order, and more.
Answers questions like:
- What is my average sales and gross margin by invoice?
- Who was buying, but is not buying now?
- Where are we succeeding geographically?
Gain full visibility into:
- Net sales
- Quantity shipped
- Quantity ordered
- Material cost
- Fixed burden
- Variable burden
- Labor cost
- Other cost
- Gross margin
Epicor Data Analytics for Materials (inventory, purchasing, and shipping)
Improve the productivity of what is likely your largest fixed asset—your inventory—by making sure you invest in the right inventory mix. EDA can help you see your inventory data more clearly.
Answers questions like:
- What is our current inventory value today?
- What are our potential inventory shortfalls?
- What is on order in my open POs?
- Where are my shipments?
Gain full visibility into:
- Quantity on hand
- Inventory value
- Cost
- Allocated
- Backordered
- On PO
- In transit
- Quantity ordered
Epicor Data Analytics for Financials (AR/AP and general ledger)
Improve overall visibility into your business by drilling down into categorized accounts and transactions within your income statement and balance sheet.
Answers questions like:
- What are this year’s actuals versus last year’s actuals by account?
- How long is money held up in accounts receivable?
- What payments are receivable and what invoices are due?
- Did we take advantage of discount terms and how much did we save?
Gain full visibility into:
- Amount paid
- Terms taken
- Allowed
- Bad debt amount
- Amount receivable
- Owing
- Items invoiced
- Invoices paid
- Memos
- Terms taken
- Transactions for income statement and balance sheet
Epicor Data Analytics for Production (production, reporting and quality)
With the production content pack for Epicor ERP and iScala, make certain that quality products are produced for the right customer at the right time—for the right price and profit margin.
Answers questions like:
- What are my resource earned hours?
- Do I have differences in production rates between shifts?
- How do I improve the overall effectiveness of my resources?
- What is the most frequent cause for product rejections?
Gain full visibility into:
- Good quantity
- Total quantity
- Good value
- Total value
- Estimated setup hours
- Estimated production hours
- Actual production hours
- Actual production
- Rework hours
- Actual setup hours
- Actual setup rework hours
- Production run standard
- Production labor rate
- Setup labor rate
- Production burden rate
- Setup burden rate
- Actual labor cost
- Actual burden cost
- Rework labor cost
- Rework burden cost
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.
As of June 2020, Epicor is no longer delivering enhancements for Epicor Advanced Financial Reporting (AFR), but bug fixes are still available for existing customers on maintenance, and the product is still in the Active Support stage. However, AFR is expected to move to Sustaining Support by 2021.
If your organization is looking for an alternative product by Epicor that gives more value and benefit to your business, Epicor can offer you three great financial reporting products that are fully integrated with Epicor ERP and provide the same capabilities as Epicor Advanced Financial Reporting and much more.
Epicor Advanced Financial Reporting (AFR) Resources
- Epicor XL Connect – New demo for AFR migration
- Epicor Financial Planner (EFP) – New edition: Financial Reports by EFP – New demo
- Epicor Data Analytics (EDA) – New module: Financial Statements – New promo video
To support the migration to these products, a new, very beneficial, non-time limited migration offer is available to every Epicor ERP customer on active AFR maintenance when migrating to Epicor XL Connect or EFP.
EDA Financial Statements is also a great option at your discretion, however for this product, the new non-time limited migration offer does not apply.
Further information:
- AFR Migration Offer Flyer – Download
- Epicor ERP Financial Reporting Solutions – 5-minute presentation | FAQ
Contact us using the link below for further details on the offer!
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.
Epicor Data Analytics 7.3.0
Epicor Data Analytics (EDA) Release 7.3.0 has gone live and is now available to EDA customers. This release contains several bug fixes, new features, and key improvements. Here are the biggest takeaways to appear in the Epicor Data Analytics 7.3.0 update. For more information on the capabilities and functionality of Epicor ERP, click the more info button below.
Nested Grids In Epicor Data Analytics 7.3.0
The new “marquee” feature for the Epicor Data Analytics 7.3.0 release, grid nesting allows users to create an “expand/contract” report within the EDA grid. Grouped by dimension, the nested grid will allow up to three levels of detail to be displayed. This can include everything from customer data, purchase history, and product information. Whatever data you wish to associate in the view, your preferences can be saved, added to the dashboard of your choice, or exported.
The Nested Grids Feature Is Useful On Many Levels. A full video of the nested grids feature and its capability can be viewed, here.
Data Snapshot Retention In Epicor Data Analytics 7.3.0
Administrators syncing data within Epicor Data Analytics 7.3.0, retention of historical snapshots can be an invaluable tool when working with datasets. To use the feature, tick the ‘Retain snapshot’ box when adding a file in Sync. Retention periods can be set for both daily and monthly periods. This feature is especially useful when working with data that is updated in real-time, allowing you to retain and view historical snapshots at-will.
Reference Your Snap Shots For An Easy Look Back At Historical Data.
Retained data can be viewed by navigating to Administration > Sync sources and selecting the relevant source to view in more detail. In the example below, each snapshot is identified by its timestamp according to the retention period previously set by the user.
Enable and Disable Sync Items Functionality In Epicor Data Analytics 7.3.0
Administrators who have been looking for a veritable pause button when it comes to data sync will find just that with the new Enable/Disable Sync Items functionality released in EDA 7.3.0. The function is easy to engage. All admins need to do is tick enable box in the Data Items panel prior to sync taking place.
Enabling And Disabling Sync For Your Items Is A One-Click Action.
Newly added items and items being edited can also be enabled or disabled for sync using the same method.
Enable Sync When Adding A New Item With A Single Click. You Can Always Disable Later If You Choose.
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.