If you are a new business owner, or maybe you are just starting your career and could use some business related knowledge, you should learn more about Enterprise Resource Planning or ERP. ERP is a business tool that is used to plan all business activities in a way that would make it easier for managers to make data-driven decisions.
ERP enabled accounting, human resources, and sales employees to access a unified database to acquire the information they need to do their jobs with maximum efficiency. ERP software functions as a single source of knowledge, which means there will never be duplication of data and the integrity of the information will always be protected. This sophisticated tool has multiple value-added features that business professionals rely on to run their businesses successfully. If you are interested in learning more, here is everything you need to know about ERP:
Successful ERP implementation is key
As mentioned earlier, ERP system Philippines has become a comprehensive business tool that all businesses, regardless of size, can benefit from. However, these systems are not cheap, and as a small business owner you need to do some research before deciding to implement ERP software. Starting by asking your potential partner these essential questions will increase your chances of finding the right implementation partner. As they implement a seamless implementation for your business, you can reap all the rewards of ERP:
How much experience does this partner have?
At this point, all potential ERP implementation partners are all the same as far as you are concerned. However, what will make you favor one over the other is the type and depth of experience the partner has in implementing ERP for other similar companies that they can identify with.
How are the comments of previous clients?
Like any type of research, you should collect some feedback from past clients to understand more about the potential failures of your potential implementation partner. ERP implementation experts understand that theirs is a complicated job, which is why they generally like to share success stories on their company website and include them in their sales presentation.
Is this partner available to provide after-sales support?
Only a few in-house small business IT professionals have the skills to implement and maintain the successful operation of an ERP tool. Your ideal partner should have the resources to provide you with post-implementation support and troubleshooting to ensure your ERP is fully operational at all times.
This is a very important requirement in a potential ERP implementation partner and should be sufficient to favor one partner over the other. Also keep in mind that as your business grows your operations will become more demanding and you will need to upgrade your existing ERP tool to get up to speed. The best way to do this is to partner with an implementation company that understands your growth potential and is looking to build a long-lasting business relationship.
Cloud-based ERP
By using cloud technology, best ERP system Philippines has become even more efficient as it runs on external servers, eliminating the burden of maintaining a dedicated server room from small businesses. Cloud-based ERP also allows for multiple annual upgrades, as opposed to the costly 5-10 year, as is the case with regular ERP tools.
Today, cloud-based ERP tools support mobile devices, analytics, and the latest technologies to support the continuous advancement of businesses. All of these features will help companies reduce their operating expenses so they can afford to invest in more research and development and ultimately become more profitable.
As you've read before, this article was just a glimpse into the expansive world of ERP and the must-have values it brings to any business. There is no one-size-fits-all solution, you need to do your due diligence to find out what exactly you need the most when planning to introduce ERP to your small business. Consider your budget and the tips shared throughout this article to help you make the right decision and move your business forward.
All About SSS Contribution Table 2019
Do you know that there is a new SSS Contribution Table?
Do you know that the amount of the monthly SSS contribution has increased?
Well, you heard it right!
As of April 2019, all members and employers will now refer to the new 2019 SSS Contribution Table when paying SSS contributions to the Philippine Social Security System.
New SSS 2019 Contribution Table
Please refer to the SSS Contribution Table for official website according to your membership, whether you are an Employed Member, Self Employed, Voluntary Spouse, Non-Working, or OFW Member.
EMPLOYED MEMBERS
If you are an employed member, you really don't need to worry about this because your employer or their HR staff will be the one updating your information and making the necessary deductions for your SSS contributions.
But in case you want to know, the minimum monthly salary credit or MSC for a regularly employed member is ₱ 2,000 and the maximum MSC is ₱ 20,000.
For Self-Employed, Voluntary, and Non-Working Spouse, since you pay your SSS contributions voluntarily or personally, you would have to enter the updated amount of your SSS contribution as of April 2019.
For example, if you make ₱ 5,000 per month and previously paid a monthly contribution of ₱ 550, now it will be ₱ 600.
The monthly salary credit or MSC remains the same at ₱ 5,000. The MSC is used to calculate your SSS benefits.
The minimum MSC for freelancers, volunteer members, and non-working spouse is ₱ 2,000 and the maximum MSC is ₱ 20,000.
The Non-Working Spouse's contribution will be based on 50% of your working spouse's MSC.
In the event that 50% of the reported monthly income of the working spouse does not correspond to any MSC in the Contribution Program, the immediately higher MSC will be the base.
OFW MEMBERS
For OFW members, the minimum contribution is ₱ 960 for the MSC of ₱ 8,000. The maximum monthly contribution is ₱ 2,400 for the MSC of ₱ 20,000.
Since most OFWs pay in advance and usually annually (throughout the year), if you have made advance payments for 2019, you will have to pay additional payments for the months of April to December 2019 with the increase applicable contribution according to the SSS New Contribution table 2019.
If, for example, you paid the maximum amount of click here ₱ 1,760 per month for all of 2019 in the amount of ₱ 21,120:
₱ 5,280 for January, February and March 2019 (₱ 1,760 per month x 3)
₱ 15,840 from April to December 2019 (₱ 1,760 per month x 9)
Option 1: If you want to pay the new maximum contribution which is $ 2,400 per month (for MSC Php 20,000), you will have to pay an additional $ 5,760 (additional $ 640 per month x 9)
Option 2: If you want to withhold your contribution and do not want to pay an additional amount, your SSS contribution will be posted under the MSC of ₱ 14,500.