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ERP is the heart of any mid to large size enterprise. An ERP has to constantly evolve to match the dynamic requirements of the different growing businesses. An organization's ERP system play a crucial role in shaping the company's growth, it not only streamlines the business process but also helps to achieve efficiency, speed and accuracy. In this article, let's unfold some of the ERP trends that are robust, affordable and powerful to use. 1. Migrating to smart ERPs In today's fierce competitive world, organization leaders prefers migrating to some of the smartest ERP Software systems. ERP vendors are keen to incorporate AI capabilities into the existing ERP offerings. An intelligent ERP system that's built in with enhanced features & integrated with the cutting-edge technology to drive efficiency with capabilities of IoT, advanced Analytics and Artificial Intelligence (AI) that allows slicing and dicing of data. Intelligent ERP systems have the real-time forecasting, excellent analyzing capabilities which enables users to gain real-time insights of the business process, improved decision making & efficient usage of resources. 2. Internet of Things (IoT) In today's connected world, multiple products & devices are connected to the Internet, enabling more data to automatically push into the ERP systems. It gives a transparent view of the activities including supply chain management, inventory, shipping partners etc. The appropriate usage of data funnel is incredible which is essential for business and industries of all verticals. Being an expensive affair, many organizations cannot afford to connect majority of the products to connect to the Internet. However large enterprises began to implement IoT ecosystems and leverage ERP tools to plunge on the data created by establishing this connection. 3. Cloud ERP One potential trend to watch out in 2018 is the extensive usage of cloud software. Using Cloud, you can readily access information from any ERP. ERP

Doing a static business in today's cut throat competition is like living on the edge of a mountain. One miscalculated step, and everything would go down the cliff. Technologies to techniques, everything is changing the speed never even wondered and thus everyone has to be on their toes to quickly adapt and get going with the change. With a tremendous roar happening around Business process improvement, there are many theories and concepts being constantly adapted, molded and remolded.One concept which works well for one enterprise may just flip another enterprises and bring nothing good out of it. It is therefore very essential to understand each concept and choosing the best one to incorporate in your business. There are two basic concepts which are used interchangeably by everyone but have a huge difference in terms of their application. Two such concepts are: Business Process Management and Business Process Re-engineering. Let's first begin by understanding the two concepts. Business process management is described as a process and management discipline that analyzes, implements, documents, monitors, controls and sometimes redesigns the business processes. On the other hand, Business Process Re-engineering is a "radical approach" to current business process. Business process reengineering necessarily means replacing the existing system. Business process re-engineering does not prophesize on documenting or implementing certain changes in the existing business processes. It only takes into consideration the input and the desired output and comes up with an efficient process to achieve the aim. Business Process Management can be looked at as a soft approach which considers the current processes, and believes in flexibility. However, the business process reengineering strives to create a perfect process from scratch and lays emphasis on replacing manual labor by automation. Business Process Management is a continual process which aims at attaining efficiency throug

Due to increasing global demand for high performance polymers Evonik's Resource Efficiency Segment is significantly expanding its production capacity for polyetheretherketone (PEEK) at the Changchun (China) site. In addition, the innovation pipeline is being continually expanded with new products

Robotic Process Automation Technology has replaced and restored many old ways of communication, transportation, and way of doing things. So much so that now, technology is all set to take over human workforce also. No, it's not exaggeration. It is near future. By employing software, based on artificial intelligence using machine learning, all the redundant tasks like keeping records, performing basic calculations and innate transactions, can be made human free. The technology that works to robotize the jobs which require humans is called as Robotic Process Automation. Robotic Process Automation can be very convincingly labeled as 'the driver of the future'. RPA aims at automating the processed which are otherwise carried out by humans in a business. The machines (or the software) are designed in such a way that they are capable of interpreting the message and manipulate the data in the required way. Process automation has always been a part of many organizations, reducing the job of employees and making machine operation independent has always been one of the many functions of Business Process Management. Robotic Process Automation takes it to another level, Robotic Automation makes the machines smart, and enables them to gather, calculate, report and sometimes manipulate data thus reducing human interference by automating problem understanding and decision making. What is RPA? RPA is the process of enabling a system to function in the same way as it would function with human logic without actually employing any human. It is a derived from three technologies, namely: workflow automation, screen scaping and artificial intelligence. Huge and complex but rule-based processes are tailored and automated with RPA. Where is RPA used? RPA sits at the top of all processes; it synchronizes all the processes together and generates results which are overwhelming. RPS is employed in almost all the phases of business processes. Front-end operations: RPA finds its appl

In last few decades, Businesses have diversified themselves so much. From once a barter system to now crypto currencies in trend, Business has evolved leaps and bound. So has the approach of doing business. Business is no more a mere commerce between two enterprises but has become a science and subject of study. A lot of thought and research goes into developing a good business trait and efficient business processes. Business doesn't only mean a huge company with huge machinery and a grand infrastructure, with time and technology as a business can be as compact as a website or just a mobile application. However, the one thing that creates a business is its execution! For a business to bloom and flourish, it is extremely important that its processes are optimized and function smoothly. To add value to the business processes it is important to develop a strong understanding of the business processes. There are different methods and techniques to deal with a human resource intensive business and a different approach to enhance an automated process. Since the processes are different in nature, the optimization aim and methods are different too. Before using any technique it is thus essential to first understand the types of Business Processes your line of business falls in. The business processes typically are of three types: * Primary Process ( also termed as essential process) * Support process * Management process. Primary process: The primary process is the fundamental line of business of the enterprise. It deals closely with the core values of the business and the value chain. As the name suggests, a primary process is a basic process through which the enterprise delivers services/ products to its clients. Dealing this process is very crucial as this is the fundamental process as it directly affects the deliverables to the clients. These processes form an integral part of an organization and need to be paid close attention to. The aim in optimizing this process i

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Evonik has completed the process of the acquisition of PeroxyChem Netherlands B.V., Delfzijl, to become a fully owned company of the Evonik Group. With the Closing of the transaction on October 30th, 2015 PeroxyChem Netherlands B.V. has been transferred to Evonik.

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