4 drawbacks of Excel as an Inventory Management Tool

September 23, 2016 by  
Filed under Featured Articles, Front Page

 

4 drawbacks of Excel as an Inventory Management Tool

nachoali / Pixabay

Microsoft Excel has always been one of the most widely used tools to manage tabular and columnar data. It has also been useful in creating charts and graphs and make calculations. Above all, Excel is inexpensive and easily accessible. These features make Excel an ideal tool for small businesses with limited operations. Since it has been around for a long time, most users are familiar with it and no special training is required.
However, for large companies that need to manage huge databases, Excel is simply not enough and despite having a similar row and column look and certain features like performing calculations similar to order fulfillment and inventory management softwares.
Among others, here are 4 important drawbacks of Excel:
Very Manual and prone to errors
Since data is manually entered, any mistyping in entering stock quantity or formulas can have a huge fallout. Ditto for entering data in a wrong column or row. When there are columns and columns of data, detecting and rectifying these errors would be a time-consuming nightmare. Besides, manual updates are always slower than real-time updates.
Difficulty in sharing large Excel files
Another minus is the huge size of a data heavy Excel file. When a lot of data is fed into an Excel spreadsheet, it becomes too large in size to be sent via e-mail and can frequently crash a company’s network.
Prone to frauds and reduced accountability
Data security is compromised greatly as virtually anyone having access to an Excel file and a mala fide intent can make difficult to detect alterations and save the file. Thefts and intentional stock damage are thus difficult to detect.
The spreadsheet lacks an audit trail for data since information is merely updated and no history of the same is available. Though a ‘last modified date’ is available, it is impossible to pinpoint who exactly worked on the modification.
No concurrent collaboration possible
Multiple users cannot simultaneously work on an Excel file. This means that only one user can make changes to the file at a time. If subsequent users need to update the inventory in the file, they would need to wait, resulting in the loss of time.

Although Excel can be a good reporting tool on business statistics, only specialized software can eliminate errors, provide real-time updates and support and track multiple users.

3 Reasons Professionals use Co-working spaces

September 15, 2016 by  
Filed under Featured Articles, Front Page

Co-Working spaces are not new. Over the past few years, they have become much more upscale. They no longer signify a business that started with a bare bones budget. Co-Working spaces are used by smart professionals with thriving businesses. When you work in Singapore Serviced Offices, you will have a lot of options that make it easy for your clients and collaborators alike.
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Here are three reasons professionals use Co-Working Spaces:
1) Meeting Room Rentals- Many times you may need to meet with clients or partners for a project and you need to make a professional impression. Singapore Serviced Offices can provide this for you. This is how you convey your competency and build trust in your business relationships. Clients feel more comfortable in a professional co-working space. Collaborators will see you as the natural leader of the project, no matter what title you have.

2) Shared office space- whether you are the main tenant or the lesser tenant, you can benefit from shared office space in Singapore Serviced Offices. Lesser Tenants can share the costs of utilities and maintenance. For the Main Tenant, the unused space is large or small; demand will still be there. A company could maximize their available space further by implementing a hot-desking policy for part-time members of staff, thus making more desk space available.

3) Professional postal handling- If you relocate your business, or otherwise change your company’s mailing address, making sure that you still receive all of your mail can be a valid concern. Not only do you need peace of mind that you will receive your mail, but you also need to know that mail delivery will be prompt, allowing you to deal with matters as they arise and not miss any opportunities presented. A mail forwarding service ensures that your post is sent on to you.

Singapore Serviced Offices offers the best line of offices and services you could find. No more need run your office the old fashioned way,
Check out Singapore Serviced Offices and start projecting your professional image.

The New Regular Contributor for the Huffington Post

September 12, 2016 by  
Filed under Featured Articles, Front Page

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There are only a few blogs that have the type of prestige that the Huffington Post offers. Now that I am a regular contributor, I plan to give people materials that will make them thoughtful, hopeful and motivated to reach their goals.

Being a blogger for the “Huff-Post” has been a long time goal of mine. When I say a long time, I mean that for the last few years, it has been a goal of mine. I had another goal reached this year that took four years to achieve. It’s been a long time since I did something that took me years to accomplish. And, it’s close to my birthday, I feel like celebrations are in order.

The main this is, I have another platform in which to serve my tribe and keep them informed, engaged and motivated. The wait is worth it!

I’ll let you know as soon as a post the first article or video, and
if you are on the email list, you will always get a heads-up!

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