Sync your retail data and optimise your eCommerce business with ease

Sync your retail data and optimise your eCommerce business with ease
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This article was published on: 7/08/20 3:42 PM

Sync your retail data and optimise your eCommerce business with ease

The Dictionaries define data as factual information that is based on reasoning, observation, discussion or calculation. Data is therefore more useful than you actually realize. It comprises the power to help optimize your entire supply chain system.  Organising data improves operational efficiency and helps to integrate your business systems to deliver optimal profits.

 

Data trends from sources like sales, inventory, fulfillment reports, etc can provide real time insight into your retail business. Daily or weekly analysis extracts critical information for better management and optimized operations.

To extract the maximum benefit out of your data the first step is to structure it. Data structuring is a particular way of storing and organizing information so that it can be retrieved and used most productively when required.. This can be achieved only if all of your supply chain operations are in sync and the data generated is saved in the cloud ERP software.

Your data is ever growing along with your eCommerce business. The sale of consumer goods via the internet has grown significantly over the last few years. You might have all the data stored with you but it needs to be well structured and planned. Data which is fragmented and stored in excel sheets. Can never be put to optimal use. A best fit ERP software integrates and streamlines all your business data and processes it automatically resulting in success and growth in less time.

Drawbacks Of Manual Data update

  • Erroneous input of data – Entering and manipulating data in Excel is a manual process, spreadsheets are extremely susceptible to human error. 
  • Duplication– Manual updates are subject to duplication or erroneous data. With so many files being sent around, it is  difficult for team members to keep track of them all and mistakes happen
  • Not agile enough- Spreadsheets are designed to evaluate two-dimensional data. To gain a more in-depth insight, other dimensions must be manually created.

Not user-friendly- The majority of spreadsheet users find it difficult to create complex formulas. Their knowledge is limited to simple functions like “sum”, “average” and “sort.” For advanced applications, the average users must turn to co-workers with advanced training in Excel.

The need for consolidated data in retail business:

 

To be a smart e-seller and have consistent business growth, you should know how to use the existing and upcoming tool of data. There are several unavoidable reasons for the same.

1. Forecast Demand and Replenishment
Demand is a key factor for reaching an optimal turnover of goods and growing revenue as a result. Expenses for storage have to be optimized, otherwise, financial troubles are guaranteed. With the availability of structured and systematic data, retailers use it to analyze their stock levels. It reduces unnecessary items in the inventory and reallocates the resources as required.

2. Boost Sales and Determine the Best Pricing
Retail margins are what determine the revenue. But if prices are too high, customers will less likely buy from you. That is the reason why price formation is so crucial for e-commerce. You can see popularity on different items, the approximate number of sales, etc. What’s more, all this is possible in a real-time mode. Data allows you to make data-driven decisions and optimize the business effectively observing the holistic picture.

3. eCommerce Trends

E-commerce retailers are engaging with new technologies to increase business productivity. They consistently work to get the best results by analyzing their past strategies. With all the data available at a single click they aim to move forward with the growing eCommerce trends. A tailor-made forecasting system which is capable of pulling data from multiple sources and analyzing it — that’s what it takes.

4. Customer satisfaction and loyalty:

Data helps retailers to understand the demand pattern of the customers. It enables them to think of more engaging and interactive ways to increase customer satisfaction. It enhances customer loyalty and repeat purchase. Your e-commerce store can do the same and monitor users’ preferences to suggest the most relevant goods. So think about data-driven suggestions to enhance the experience of customers and boost your sales. Retargeting of potential buyers can also be done to drive more customers and sales.

The optimal use of Retail Data

Stock and Inventory Data

Keep stock of every item as managing the entire inventory generates a huge amount of data. It is important in making updates in inventory levels and stock-outs across multiple channels. Keep an eye on these inventory level reports:

 

  • Total Counts of SKU’s
  • Cost of Inventory
  • Out of Stock % of SKU’s
  • Inventory Availability of Fast Moving SKUs
  • Products With Zero Order In Last Month

Data in Warehouse Management

Customers today want real-time updates on their product orders. They want entire information about the product’s availability prior to the purchase. They even want to have quick access to the manufacturing details of the product they want to buy. How will you provide them with the information if you do not have them in your system?

Data in warehouse management allows you to conclude how customers’ behaviour may change. Also, the expectations they have from the manufacturers and supply chain leaders.

It also makes the omnichannel process smooth. The reports from warehouse analysis are helpful in utilizing warehouse space more optimally.

Logistics and Wholesalers Data

In eCommerce, it gets essential to know your tie-ups, partnerships, vendors, logistics partner.

Make it easy through Vendor and Logistics management reports. You gain insights into the previous purchase orders, delivery and pick-ups and prices to improve your future decisions.

 

Many times the retailers have to maintain a range of software solutions for each function and employ resources to update those systems. Since supply chain operations have a lot of processes to take care of manual data updations in each system is a huge task! Manual data handling has the risk of errors and duplications.

Expand ERP software – India’s best fit ERP company for manufacturers in retail business is one such complete operations management solution that seamlessly integrates with various functions and ERPs in an organization. This ecommerce solution is designed to assimilate and share process data without error or duplication on all the other existing ERP integrations.

Expand ERP helps businesses just like yours to get the most out of your data. We provide you with the best solutions to increase your operational efficiency.

 

Request a free demo with us today!

Top 4 key strategies for eCommerce and Retail industry to implement post Covid 19

Retail industry to implement post
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This article was published on: 31/07/20 3:30 PM

Top 4 key strategies for eCommerce and Retail industry to implement post Covid 19

“It is not the strongest of the species that survives,nor the most intelligent,but the one most responsive to change.”

– Charles Darwin

The survival of businesses has become the top priority after the economic slump created by the pandemic. Affected services may take some time to get back to the normal cycle of business even after the lockdown period is over and so, however, it is evident that the graph will rise once people are back to their daily routines, not being restricted to stay home anymore. And to strategize around such possible behaviour of consumers becomes highly important.

It is a common looming question in every entrepreneurs mind now to  look for answers on how to proceed once the lockdown is over and we at Expand ERP have incessantly been monitoring the situation, taking updates on all new establishments, figuring out ways by which SMEs, brands and e-commerce retailers can cope up with the effects.

Expand ERP – the best fit ERP company in India will help you with strategic technology and tools with which you can reset your business afresh.

With the following top 4 strategies you can plan out a road map to a sound future of your retail business.

1. Complete digitisation for Supply Chain Operations

 

Complete automation of supply chain operations has always been a top priority for most businesses to speed up processes and reach exponential growth, but now it has turned into a necessity.

The most important aspect of getting eCommerce businesses back on track will be strengthening of your inventory,warehouse and logistics processes. Automation of warehouse operations and real-time updates of the delivery progress helps companies focus on rapid actions ensuring there are no cases of out-of-stock items or delayed deliveries. Expand ERP WMS keeps a track of your inventory even when your business is stopped and gives you real-time data.

Constant checks on stock-keeping units, SKUs, maintenance and uninterrupted order processing are all positive aspects of onboarding automation. Delivery of items, all the way to the last mile can be done by implementing specific logistics guidelines, which include technological driven support such as live updates and efficient tracking of products, delivery through drones managed by a team sitting remotely at various locations and turning inventory systems digital.

As ‘contactless deliveries’ have become an essential  trend to ensure the safety of both employees and customers, enabling doorstep deliveries will ensure a happy customer experience along with loyalty attached to the brand.  This could be achieved by integrating with high-end logistics partners that ensure efficient management of orders and deliveries will prove beneficial. Expand ERP – India’s best ERP company has integrated with third party logistics like Blue dart and Shiprocket for your easy and convenient deliveries.

2. Shift to Omnichannel Commerce 

 

Multi channel retail,although new to the Indian market, has now gained traction and continues to be adopted by major brands and businesses. The lockdown phase could not have made a better case for this method to be implemented as increased demand for essential goods and services can be Pre lockdown, the eCommerce volumes in India have seen a 51% increase in the overall consumption, making it the highest amongst other countries around the globe in terms of online shopping. A smartphone in every hand, with hundreds of platforms to buy from, all contributed to this huge flow of demand and consumer growth was seen throughout this time making it more critical for businesses to practice omni channel presence to ensure a consistent approach to manage orders, inventory and retail stores post the lockdown period.

The brands that implement omni channel sales have not only seen an increase in sales, but ensure that the hyperlocal delivery model enables enhanced customer experience leading to increase in brand loyalty.

3. Diversifying Supply Sources 

 

Owing to the lockdown, there has been a huge gap in product sale and services which has caused overstocking  in warehouses and manufacturing plants and these stocks need first attention as soon as operations go back to normalcy.  To control  having dead stocks it is viable to prioritize stocks as per their date of expiration which will help in a regular order processing cycle.Items which have shelf life need to be disposed earlier with urgency to avoid wastage.

Apart from that, the drawback of having only a single source for supplies has resulted in stock outs for the demanded services as well, and so focusing on finding multiple sources of supply will enable you to handle situations like these in a better way in the future. 

However, consumer’s demands will increase gradually and once that happens you will need to be ready and updated with all your stocks to avoid any further delays. Thus, it is imperative that the warehouse management solution that you implement should provide technologically advanced features such as Batching, FIFO and Cycle Count to ensure that your warehouse operations will run smoothly and restrict any more interruptions in your business. Expand ERP software provides such facilities through the ERP system and ensures hasslefree warehouse management.

4. Increase your Customer Service Management 

 

In current times there is nothing left to be unique other than personalization. Each and every customer needs to feel that they are important and can reach out to your business with all their issues. Customer care support has been a part of organizations for long but the change in dynamics caused by social distancing and people being stuck up in their homes, the burden increases as customers would have a lot of time in their hands to register their concerns, and your lack of connection can prove futile. Thus, a friendly customer relation is crucial to maintain old as well as new potential customers.

Brands need to incorporate strategies that will help them create a strong social presence and focus on developing products and services based on consumer requirements. The customer care systems will have to incorporate a deep and highly integrated backend system and this will be possible by introducing ERPs/CRMs that are deeply integrated with order and warehouse management systems to ensure real-time communication with consumers and drive focus to what services are highly required from your end to the consumer. These practices will not only save your business but help it venture into better business opportunities.

Restoring to normalcy  will surely take time, but with the right tools and solutions by your side and a well-planned strategy plan to lead entire supply chain operations , it will surely help you build up steadily.

Expand ERP  – India’s best fit ERP software for mid sized manufacturers in the export and retail industry  has constantly supported all  MSMEs  to focus on restoration while being the one-stop technology solution for all daily business operational requirements. We have completed 15 glorious years in building trust and faith in our patrons. We have successfully partnered with many businesses in Kolkata, Delhi, Bangalore, Mumbai, Jaipur and in other cities. We will maintain our goal to spread the latest trend in technology to as many organisations we can reach out to. Our team will focus relentlessly to spread awareness and touch the lives of business owners and help them reach their goals. If your goal as an entrepreneur is to achieve great  heights for your company, Expand ERP Cloud based software is your ultimate route to the peak. Please leave a comment below for more enquiries and information.To book a demo call 9007026542

Top 7 features of a best fit ERP company in India

ERP Company in India
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This article was published on: 17/07/20 10:03 AM

Top 7 features of a best fit ERP company in India

From the widespread adoption of social media to the evolution of mobile apps and cloud computing, the enterprise technology (IT) landscape particularly the enterprise software (ERP) ecosystem has witnessed an exponential growth and technological advancements in the last couple of decades.

ERP systems have been there since the 1980s in India. Primarily only large scale businesses used ERP systems for managing accounts and finance. The systems then were complex and expensive. 1990s was all about inter-functional ERP software integrations. These ERP systems seamlessly integrated accounting, distribution, inventory, logistics and other daily business operations. In the 21st century, ERP systems added several other essential integrations like CRM, HR , SCM. Business analytics and reports etc. Today, the best ERP systems in India are completely well equipped with built-in intelligent automation capabilities, integrated security functionalities, faster updates, cloud based platform, mobile friendly, data-driven and modular offering unmatched flexibility.

An ERP system brings all your business operations together, without which, departments would function on their own individual systems. While this may cater for the day-to-day departmental tasks and processes, in practice, it often leads to departments working in silos. This becomes very inefficient as organisations have to employ additional manual resources to extract and import data from one system to another in order to produce meaningful company-wide reports in which to make better business decisions.Implementing a software from the best fit ERP company in India can also help you to identify inefficiencies within your business by rethinking current practices and processes. Expand ERP is India’s best fit ERP software for mid sized manufacturers in export and retail industry.Our dedicated team, ensures you constant support throughout  the deployment process.

Some decisions hold primary importance in deciding the eventual fate of a business. Implementing the best ERP software is surely one of them. There are a multitude of benefits to be reaped through the implementation of an ERP software for your business. However, it is assured that the benefits conferred upon a business by a suitable ERP system are huge and outweigh the expenditure and effort any day. One should always ensure before you finally go for one. Their importance in business processes are:

  1. Save Financial Resources- Though ERP systems may seem to be hefty on the pocket, in the long term they do in fact help to save your organization’s money. An ERP integrates the diverse fragmented systems that are present in organizations. Through this cost-efficiency is achieved and the business process is in a far better shape. The need for users to be trained on different systems for different purposes is eliminated thus saving you both time as well as money.
  2. Collaboration is enhanced– ERP companies in India across the spectrum offer the functionality of sharing editing data. They also serve to make the data more secure and restrict access according to the need at hand. You do not have to be concerned about the accuracy and completeness of data as all of it is compiled, shared, stored and accessed through the same piece of software.
  3. Enhanced Analytics- Through the use of the correct ERP software generating reports may be generated promptly and with ease. These reports may contain a wide range of data like expense statements, income statements and custom reports which have their basis on trends and metrics. Such reports facilitate the process of quick and effective decision making. With the perfect fitment test, you will be able to match your needs with the best fit ERP company in India. (attach fitment test)
  4. Enhances productivity- In the absence of an ERP system you and your staff members experience redundant operations and wastage of precious time and manpower in manually conducting repetitive tasks. These at the end of the day have the potential of negatively affecting the bottom line. ERP systems eliminate the wastage of time making your business more productive, efficient and profitable.
  5. Satisfied Customers – Some ERP softwares come bundled with CRM which help to have happy and satisfied customers. The right combination of ERP softwares and CRMs help in conducting a variety of tasks related to Leads Management. They facilitate the generation of leads and help to acquire better customers. Better customer service leads to long term customers.
  6. Compliance with rules and regulations – Compliance with statutory law and relevant regulation is really a major pain for most business organizations. When you are able to successfully complete an ERP implementation you get the advantage of being able to comply with norms with comparative ease through data and reports.
  7. Better management of production and inventory- In the situation that your business makes use of an inventory or produces something, an ERP software helps to manage these aspects. It results in making optimum use of efforts and takes out the guesswork from your work.

Satya Nadella, CEO Microsoft, rightly says, “If you don’t jump on the new, you don’t survive.”

Team Expand strives each day to build an acumen in innovations in technology. Expand ERP – India’s best fit cloud ERP software is completely geared to manage your organisation online with ease and make it future-ready. Embrace Expand ERP software solutions for a time-tested, homegrown, comprehensible, best fit,  cost-effective and robust business automation software. To know more call.. 9007026542

Know how 5 best practices helps you manage multiple companies with a best fit ERP software

Multiple companies connected with one ERP system
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This article was published on: 13/07/20 10:32 AM

Know how 5 best practices helps you manage multiple companies with a best fit ERP software

“Every success story is a tale of constant adaptation, revision and change.”

-Richard Branson

Growth is good news. However, managing it efficiently can be a nightmare. Scaling up your organisation can be an administrative challenge. 

Most organisations find themselves stretched between multiple databases, simply implementing what worked initially across their new locations. Information often ends up scattered across different databases, and reports have to be sorted together from various sources. This takes unnecessary time to compile and results in several human errors.

Managing a company is complex. It only multiplies with each new sub company added to the list especially when it comes to accounting, reporting and managing resources.

What your team will need is access to reliable reporting and analysis that will give a clear overview of progress happening.

The following 5 practices can help manage multiple companies from a centralised system as and when you scale.

    1. Consistent labelling across all databases- Synchronizing your master records across all your companies is essential when it comes to making sure that Vendor IDs and Vendor Names always match. Before entering data into your Expand ERP software system, ensure all  the conventions for labelling vendors, as well as other important information. Consider those conventions when feeding in data. A simple step like this saves time and ensures consistency across all your database,  making it easier to gather the information when needed without any complications. For example, one vendor with two separate IDs, or with two slightly different names, means reports may include only selective information when needed.
    2. Extra attention to security – Unlike many companies who apply the same security system across all databases, manage your  multiple companies with a whole broader security concern. Never be complacent when it comes to sensitive information instead ensure special protection.  Take time when setting up your system to go through the permissions and ensure you’re happy with each user’s level of access. Restriction of permissions, limiting employees to the information they need to perform their duties will add to neat filtering of access to information and data. This will involve better management of the multiple companies.
    3. Accounts charts need to be in sync – It is better to decide which accounts to use for which kinds of data, and ensure your team follows the same chart of accounts when entering data. Accounts must be consistent across all your companies to be effective. If accounts match, it prevents cross-company confusion and inaccurate reporting. Consistency is very crucial to match revenues across multiple companies.
    4. Create a systematic protocol to manage multiple companies – Rather than running multiple databases, use a Multi-Entity Management module integrated on your ERP software to:
a. Run all your companies from a single database, saving your time and money.
b. Reduce duplicate entries and consolidate your data into a single set of master records
c. Strengthen security, share data between companies while still restricting access, making reports and companies invisible where necessary.
d. Use the same chart of accounts for each company separately.
  1. Use a tool in your ERP software that pulls both individual and consolidated reports – Using a reporting tool of your ERP software will make pulling individual companies and consolidated reports possible. You may need to train a member of your team as the manager to manage your reports. Either way, a good reporting tool will give your company the ability to get an accurate picture of accounts across all companies without having to filter multiple databases for the information required.

A best fit ERP software will solve most of your challenges with integrated modules for Leads, HR, CRM, Accounts and Finance, Production, Warehouse and Inventory, third party e-commerce, personal market place etc.

Expand ERP is India’s best fit ERP cloud software for midsized manufacturers in export and retail industry. It is the best ERP software company in Kolkata with headquarters in Bangalore. Expand ERP has empowered several organisations for over 15 years. It is a home grown software for the Indian business. It is designed to fit into your company’s unique needs. 

It has all the integrations like Leads Management, Warehouse Management, HR and Payroll, Accounts, eCommerce, Shipping, market place and various others to suit your special needs. 

Expand ERP Software is a solution for managing your company/companies completely online. We also provide hasslefree online implementation within 28 days and constant training and support post implementation. 

If you are still unsure of how to manage your multiple companies with a centralised system, book a demo with us to show you the way to scale your organisation. We hope this article brings some value to your worries. For more information call.. 9007026542

Know how Automating Export documentation can save significant time and resources

Automating Export documentation- ERP Software in Kolkata
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This article was published on: 10/07/20 2:42 PM

Know how Automating Export documentation can save significant time and resources

Business automation has become a must-have for any organisation that wants to be future-ready. The future is technology. Automation is the only respite for achieving desired goals within the timeline for any company. Export industry is a notch ahead of any other industry. Dealing with overseas clients with different languages and cultures, rules and regulations, currency and conversions etc involves a lot of brain racking work. Export documentations is the most difficult task to sort so that no legalities are missed which can end up the company owner behind bars. A best fit ERP cloud software can solve most of these challenges faced by an export company. Expand ERP is India’s best fit ERP solution for manufacturers in the Export industry. It is the best ERP company in Kolkata with Headquarters in Bangalore.

Every export taking place in the company goes through defined steps of documentation like invoice, packing list, bill of exchange, shipping bill etc. Whether you are in an exporting business or someone who uses exporting services, you know that there can be a lot of paperwork involved. There is a lot of paperwork that can often seem endless and repetitive.

Instead of performing repeatedly the same tasks, it should be a simple set of few button clicks automating Export documentation to complete. Here we have taken the example of export documentation but in business no matter how simple or complex a task, if it is repetitive then it should be automated to save time and eliminate the possibility of error. For example every invoice generated should be emailed to the customer; every dispatch should be emailed to the customer and a group of seniors. These are examples of simple tasks but there are numerous possibilities of errors. Even if it is done without error it is highly possible that every email is in a different format. Such automation involves time and money but once done properly, it has huge advantages like Performance and Efficiency, Consistency and error free (Same standard professional output and no errors no corrections), Easy for anyone to learn and get going.

– Exporters have reduced rework due to errors by 75%. Man hours spent for documentation have reduced by 60% and output is now more professional and reliable with EXPAND ERP for exporters.

Counter Export challenges with Expand ERP softwarebest ERP company in Kolkata :

Export houses depend on effective export control processes throughout their supply chain. The legal ramifications of violating export laws can be a huge challenge. Freight forwarder, customs broker, sea vessels crew, warehouse management all these can be simply managed by single export business software. To supply the highly competitive order shipments, freight exceeds in volumes of sales and profits, you need an ERP.

3 Reasons why Exporters need a best fit ERP software

  1. Financial reporting accuracy – all invoicing and purchase orders can be consolidated and kept track of through erp.
  2. Enhances speed and agility – ability to respond faster to customer needs and deliver service promptly.
  3. Details of shipment – and ERP scheduling application is crucial for optimising work hours and properly utilising resources. This will allow tracking of order details anytime, anywhere.

Every export company should own 2 things:

  1. An export compliance program.
  2. Export documentation software that standardises the export paperwork.
Export documentation is required for goods leaving one country for another to ensure a variety of things.
  1. Ensure proper taxation and dues are accounted for
  2. Ensuring products don’t land in the hands of people banned from receiving goods
  3. Ensure public and environment safety

Export documentation keeps those who export within the bounds of export compliance.

Common compliance issues are:

  • Consistent problems with errors or omissions on documentation 
  • Not obtaining specific approvals or licenses for special items (guns/weapons, medications, animals, plants, etc.)
  • Shipping goods to restricted destinations 
  • Shipping goods to a person or business already on the restricted parties or denied persons list

EXPORT REQUIREMENTS AND REGULATIONS

Requirements and regulations can vary by country. These can be set by the Indian government or the destination country for a multitude of reasons. It’s up to the exporter to ensure that all requirements and regulations are followed prior to shipment to make sure all documentation is in order.

Common documents include a Commercial Invoice, Packing List, Certificate of Origin, and Shipper’s Letter of Instruction to the Freight Forwarder. There could also be product-specific or country-specific documents.

One of the features within Expand ERP is the Requirements Guide. As a user, this is your manual to navigate through creating and managing export documents to ensure compliance between India and the destination country.

Restricted Parties denied screening:

If you’re exporting, you need to know who you’re shipping to and make sure that they aren’t on a government list somewhere that says they aren’t allowed to receive goods for one reason or another.

Reasons can vary, but the ultimate result is to comply and not provide them with goods because of any restrictions they may be under.

Benefits of Expand ERP – the best fit ERP company in Kolkata for Export industry:

  • Timely export order entries into the system has allowed companies to plan out their production or procurement activities well in advance.
  • Single system for everything export – documentation, post shipment and financial accounting. Companies do not have to manage separate spreadsheets for various activities
  • Flexibility to validate accounting entries with exchange rate present in the Shipping Bill have ensured company accountants to book the exact value of export sales
  • Auto-computation of fluctuation due to difference in exchange rate’, has reduced significant amounts of time spent on manually calculating the exchange rate and entering it into the system.
  • Tracking of the various export incentives with their values has also become easier since they are being entered as additional information in the shipping bills section.
  • Packing credit availed and it’s utilisation along with balances and interest has become easier to track as they are being tagged with the realisation or discounting of bills
  • Shipment and post shipment statuses such as goods under dispatch, goods in transit come from the ERP itself since various dates such as B/L Date, LR Date, LEO Date are being entered by the customers.
  • Remittance statuses such as documents being sent to the bank, pending negotiation and realization pending are available from the system itself.

 

Various KPIs, BI and MIS available for the management so that they can take quick and effective decisions.

If you are in search of the best ERP software in Kolkata for your export industry, Expand ERP is fully equipped to deliver the best solution for your complex business process. Further the software is intuitive and can easily be used by anyone with basic computer knowledge. Its user-friendly interface makes things easier for one and all. Also you need not worry about capex and infrastructure investment as it is cloud-based. Expand ERP provides a solution with over a decade of knowledge and research to process all export documentations and financials with ease.Schedule a demo with us to find out more details or call at… 9007026542